Thailand’s domestic currency (baht) is experiencing its worst January since 2020 with a loss of nearly 4% versus the US dollar, and heavy outflows signal more downfall for the currency.
Hanoi (VNA) – Thailand’s domestic currency (baht) is experiencing its worst January since 2020with a loss of nearly 4% versus the US dollar, and heavy outflows signal more downfallfor the currency.
The baht has becomethe biggest loser this year as global funds shun Thai assets amid a debatebetween with the nation’s government and central bank on how to stimulate theflagging economy, according to Bloomberg.
Thai DeputyFinance Minister Julapun Amornvivat said that the government last week wasconcerned that borrowing costs hovering at a 10-year high are holding backrecovery. That’s after the central bank pushed back against rate cut calls,saying lowering borrowing costs can’t fix structural problems in the economy.
Alvin Tan, headof Asia FX strategy at RBC Capital Markets in Singapore, said that the baht willcontinue to feel the drag from the growing political backlash against itscurrent level of policy rates.
He said he’slooking for dollar-baht to trade in a range of 36.0-36.50 in the coming weeks.Thai baht (THB) closed at 35.63 last week.
Foreigninvestors’ net equity outflows have reached 808 million USD this year totally whileThailand’s benchmark stock index fell to a three-year low last week amid growthconcern. The country’s debt isn’t proving attractive either as the market sawoutflows after recent bond defaults and a major accounting scandal shookinvestors.
Nicholas Chia, amacro strategist at Standard Charꦗtered Bank SG Ltd, said that the ongoingrecovery in Thailand’s tourism is baht-positive. However, per capita touristspending and Chinese arrivals in 2023 lagged pre-pandemic 🌄levels./.
The Thai cabinet has approved six proposals by the Minister of Tourism and Sports to build up regional partnership in promoting tourism of the Association of Southeast Asian Nations (ASEAN).
Thailand's economy grew by 1.8% in 2023, down from the 2.6% year-on-year, as the manufacturing and export sectors contracted, the country’s Finance Ministry said on January 25.
Thailand recorded a total of 85,300 companies registered as new businesses in 2023, the highest number in a decade, with combined registered capital of over 560 billion baht (over 15.72 billion USD).
Thailand and China on January 28 signed an agreement to waive visa requirements for each other's nationals within the framework of China’s Foreign Minister Wang Yi to Bangkok.
Anti-dumping duties will continue to be imposed on producers from China and Japan while those on relevant exporters from the RoK and Vietnam will be terminated, starting from June 23.
A specialist police unit has acquired a fleet of off-road vehicles to help officers navigate rough, unpaved terrain – and flood waters – to respond more quickly to public security incidents.
The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.
The talent programmes mark another milestone in the technical partnership between PETRONAS and the Energy Institute, which focuses on three pillars: promoting decarbonisation and operational excellence through innovative solutions, enabling informed decision-making with expert advice, and nurturing the next generation of energy professionals.
The firefighters found an active blaze at the lorry depot located in the city of Pasir Gudang near the state capital of Johor Bahru, with flames spreading quickly due to strong winds and igniting a neighboring disused oil storage area.
Investigators believe the operation is part of a broader scam network involving romance scams, where victims are lured into fake relationships and persuaded to transfer money.
Ambassadors, Consuls General, along with staff and their families, joined traditional sports and cultural activities of Southeast Asia and performances bearing regional identity, thus contributing to strengthening unity and the ASEAN community spirit in New York.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
Tourists in Bangkok, Thailand. (Photo: AFP/VNA) 
