Big Businesss urges weaker baht | Bangkok Post: business

BoT urged to weaken rising baht

Big-business coalition cites harm to exports

Published: 5 Feb 2013 at 00.00
Newspaper section: Business

The private sector is stepping up its pressure on the Bank of Thailand to ease the baht's strength, saying the central bank should look at the possibility of an interest rate cut and tax measures to cope with foreign capital inflows.

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), which comprises the Federation of Thai Industries (FTI), the Thai Chamber of Commerce and the Thai Bankers' Association, met yesterday to discuss the impact of the strong baht, which was quoted yesterday at 29.75 baht against the US dollar.

JSCCIB chairman Payungsak Chartsuthipol said strong foreign capital inflows had strengthened the baht and short-term fluctuations had adversely affected exporters.

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spiceman
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Discussion 8 : 06 Feb 2013 at 04.428
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Khun Bangmodker #6, if Obama stops spending money he doesn't have, there will be no need for the FED to print money out of thin air by $1.5 trillion a year, every year in the last 5 years, right? Right now, the US debt ratio is exceeding 100%, compare to Thailand's 40%. The US debt ratio will soon reach 200% at an accelerating pace with nothing to show for it, except mounting debt and persistently higher unemployment. Can any nations tax, borrow, and print money out of thin air its way into prosperity? In short, the US will soon become like Greece, a failed state. This is the reason why the Dollar is sinking and the Baht is rising.
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spiceman
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Discussion 7 : 06 Feb 2013 at 04.247
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Khun Bangmodker #6, the FED use to be an independent body whose job was supposedly to ensure stability and integrity of the US Banking System, but not anymore. Today, the FED is just like any other branches of the White House. That's how, after more than 4 years since the Subprime Mortgage Fiasco, ZERO senior executive bankers have been prosecuted and sent to jail. The last Saving & Loan Crisis a little more than a decade ago, nearly 1,000 bankers ended up in jail. If you want to know the truth, watch "PBS Frontline 2013 The Untouchables." It is 55:39 min long, OK?
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bangmodken
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Discussion 6 : 05 Feb 2013 at 18.336
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D1,Khun Spiceman : Obama is not printing the money. The private bank you call the FED is. Obama just borrow the money with interest. This invention by the Rothchilds,who owns most of the "central banks" in the west,is the greatest scam of all times yet most people are not even aware that they're getting robbed by them. LOL!

And we often criticize Thais for being un-educated yet most of us are oblivious to how our own Countries are (mis)managed. Humble pie,anyone?
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onlyasking
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Discussion 5 : 05 Feb 2013 at 16.035
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The Economist published its newest Big Mac index. According to this the Baht is under valued with 33% (should be B20 to 1 USD). On a more serious note, its not Baht thats too strong its the $ thats weakening. Wait untill the bond market bubble pop and then you will see what happens to the $, BP and Euro.
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dao
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Discussion 4 : 05 Feb 2013 at 09.144
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Healthy markets float .
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djay
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Discussion 3 : 05 Feb 2013 at 07.393
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Interesting that the baht is getting stronger against the dollar, but petrol in Thailand keeps going up. Reverse logic...
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boons
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Discussion 2 : 05 Feb 2013 at 07.222
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The problem is compounded by the fact that the BoT is sitting on mountains of foreign denominated debt and actually can't easily afford to reduce the value of the baht as it increases their debt burden. Thailand is an 80% export economy, and the banking sector is ignoring this in favor of an economy fueled by expanding credit. We have seen this movie before in Greece and Spain and we know how it ends.
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spiceman
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Discussion 1 : 05 Feb 2013 at 05.291
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I think they are barking up the wrong tree. What they need to do is to tell Obama to stop massively inflating the US Dollar (printing money out of thin air)!
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