Baht up again to 29.84 per dollar | Bangkok Post: breakingnews

Speculators push up baht again

Published: 22 Feb 2013 at 11.19
Online news:

The value of the baht advanced Friday, halting a two-week loss, on speculation that the country's accelerating economic growth will attract investment.

Gross domestic product (GDP) rose a record 18.9 per cent year on year during the last quarter, taking 2012's rate to 6.4 per cent. That was more than the 6.1 percent in Indonesia, the only economy in the region that is larger than Thailand's.

Overseas funds bought $1.9 billion more sovereign notes than they sold in February, according to the Thai Bond Market Association, while 10-year debt yields fell three basis points this week to 3.62 per cent.

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pointman-1
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Discussion 3 : 22 Feb 2013 at 14.003
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Evidently, the Thai-Government has an excellent trade representative. With Thailand, running trade surpluses along with strong economic growth, I still see the possibility of the Thai-Baht strenghtening to 28 Thai-Baht to the U.S. Dollar.
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onlyasking
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Discussion 2 : 22 Feb 2013 at 12.092
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In the economy everything that goes up comes down again and everything that comes down goes up again.In this process a balance are always reached, unless governments interfere with markets. Government interferance in world markets have reach such a point that without major economic restructuring we are going to see a collapse of markets as never seen before.
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boons
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Discussion 1 : 22 Feb 2013 at 11.561
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"The economy is very strong".

No it is not. The economy *feels* very strong because of hot money inflows in desperate search of yield, unsustainable populist policies, wage hikes and because of reckless credit expansion to unqualified borrowers.

Make no mistake, Thailand is a 75% export economy in a world of collapsing import demand. Most other countries are feeling the pinch, but Thailand is only too happy to create a magical (if short lived) expansion in the face of global contraction. If the economy is booming, what is the industry behind the boom? And don't say "autos". lol.
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