Thailand is heading for a rare current account deficit this year with the country missing out on the billions of dollars earned from tourism, likely piling more pressure on the nation’s already battered currency. Southeast Asia’s second-largest economy may post a current account shortfall of $10.3 billion, or 2% of gross domestic product, the first […]
Read MoreThe Bank of Thailand plans to test its Retail Central Bank Digital Currency (Retail CBDC) in next year’s second quarter, allowing all related parties to participate in the testing process. The central bank studied and surveyed Retail CBDC implementation with all stakeholders, including consumers, financial institutions, merchants, the government sector and others. Based on the […]
Read MoreCharoen Pokphand Foods Plc (CPF) has won plaudits from the Public Health Ministry for its successful implementation of the bubble and seal measure, in line with the government’s aim to safeguard factory workers and communities against Covid-19 infections. Sathit Pitutecha, deputy public health minister, praised the company for correct implementation of public health measures concerning […]
Read MoreThe baht opened at 33.35 to the US dollar on Friday, unchanged from Thursday’s closing rate. The Thai currency is likely to move between 33.30 and 33.45 during the day, Krungthai Bank market strategist Poon Panichpibool said. Poon explained that the baht had not weakened in proportion with the strengthening of the dollar, as exporters […]
Read MoreThailand’s second-quarter GDP growth expanded 0.9% quarter-on-quarter, and at a better-than-expected 7.5% year-on-year, versus a consensus forecast of 6.4% and JPMorgan’s estimate of 6.8%. Nonetheless, as a country highly reliant on tourism and with the continued limits on cross-border travel, we expect a full recovery in Thailand back to pre-Covid-19 levels to only be achieved […]
Read MoreBank Indonesia and the Bank of Thailand launched a cross-border QR payment linkage on Tuesday, under which consumers and merchants in both Indonesia and Thailand can make and accept instant cross-border QR payments for goods and services. This connection is the first to link retail payment system operators in both countries. It also marks a […]
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