Speculators kept out of baht rise | Bangkok Post: business

ECONOMY

No signs of baht attacks _ Prasarn

Kittiratt opts for cure rather than prevention

Published: 25 Jan 2013 at 00.00
Newspaper section: Business

There are no signs of speculation on the baht nor are heavy sales of the dollar to push up the baht value although short-term investment in the local bond market has soared, says Prasarn Trairatvorakul, the Bank of Thailand's governor.

A man looks at a foreign exchange board in Bangkok yesterday. PATIPAT JANTHONG

Existing regulations are already in place to rein in speculation on the baht such as the limit on foreign investment in the local currency without underlying transactions, he said.

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Ian
Post : 937
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Discussion 3 : 25 Jan 2013 at 08.283
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The Baht is starting to look like a bubble, I have stopped moving Sterling into Thailand and am going to wait it out. Most of my friends are doing the same. Most people talk about tourists and ignore expats, but we buy houses, cars, furniture and white goods, support partners and children; this is an annual flow of money into Thailand much greater than that of a high end tourist staying 2 weeks in a 5* hotel. There are an estimated 2 million non Thai nationals here of whom 1 million are expats from the developed nations.
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oldairman
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Discussion 2 : 25 Jan 2013 at 06.172
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I suppose that the 2 Trn baht they want to borrw from offshorre will also be more expensive now as well.
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boons
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Discussion 1 : 25 Jan 2013 at 04.001
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"Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said baht invention should be avoided even at the expense of exporters."

And to the benefit of?

Thailand is an 80% export economy, It's not as if these "exporters" are some minority sector who may have to "take one for the team". They *are* the Thai economy. Everything else is statistically unimportant. And by he way, tourism might as well be lumped in with the exporters in this case as it is equally adversely affected by the strong baht.
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