While digital assets are still on the radar of local banks seeking long-term growth opportunities, they plan to be more cautious when investing in them amid a volatile market, say banking chiefs. Prudent investment is a key factor for controlling risks amid high market volatility, according to the banks. SCB 10X, a corporate venture capital […]
Read MoreThe baht extended losses on Friday after the country’s central bank said inflation was under control and that future rate hikes would be strictly data-driven, bucking a firmer trend among regional currencies. The baht fell 0.4% after Bank of Thailand (BoT) governor Sethaput Suthiwartnarueput said inflation would peak in the third quarter before returning to […]
Read MoreThe Bank of Thailand (BoT) will prevent inflation from rising sharply, but at the same time ensure that any monetary policy adjustments are gradual, BoT governor Sethaput Suthiwartnarueput told a news conference on Friday. The central bank is expected to raise its key interest rate from a record low of 0.50% at its next meeting […]
Read MoreKasikornbank (KBank) forecasts the baht will weaken more than previously projected because of the US Federal Reserve’s hawkish rate hikes. KBank revised its baht projection to 35 against the US dollar at the end of this year from a previous forecast of 33.50 baht to the dollar. The adjustment is based on the Fed’s tightening […]
Read MoreThe baht opened at 36.78 to the US dollar on Friday, strengthening from Thursday’s close of 36.87. The currency is expected to move between 36.65 and 36.90 during the day, Krungthai Bank market strategist Poon Panichpibool predicted. He said the baht’s weakening may slow down as the dollar is weakening. Though the Thai currency could […]
Read MoreTourism revenue this year may total 1.2 trillion baht, below the government’s target of 1.5 trillion, if there are no additional support or stimulus schemes as the fiscal budget for tourism in 2023 has been heavily cut, according to Tourism and Sports Minister Phiphat Ratchakitprakan. Mr Phiphat said the proposed stimulus packages comprise a 1-billion-baht […]
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Thailand
