All eyes on Thai baht

Quick Summary:

The direction of the Thai currency for the remainder of the year is critical for local industries after the Federal Reserve cut interest rates as expected last Wednesday, putting more pressure on the Bank of Thailand's Monetary Policy Committee (MPC), which has held steady on rates since last year.

As a result, exporters need to protect against exchange rate losses as baht appreciation could continue until year-end as funds from both fixed income and equity markets flow into Thai markets.

For Viriya Lappromrattana, senior executive vice-president of I V Global Securities, the Fed's outsized rate cut means there is greater pressure on the Bank of Thailand to follow suit in slashing borrowing costs.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaIndiaIndonesiaJapanSouth KoreaMalaysiaPhilippinesSingaporeSwedenTaiwan

Topics: Markets Baht Dollar Bank Rates Thai Year Central Thailand Last Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-23 @ 04:45:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 2109 words

Reading Time: 12 minutes read

Sentences: 73 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 22651776

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 3 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 15 hours ago

Coverage Areas: Thailand

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #66

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