The baht opened at 33.46 to the US dollar on Wednesday, its lowest in three years and unchanged from Tuesday’s closing rate. The Thai currency is likely to move between 33.40 and 33.55 during the day, Krungthai Bank market strategist Poon Panichpibool said. He said the baht was likely to be volatile and weaken due […]
Read MoreThe latest travel warning from the US Centers for Disease Control and Prevention (CDC) against travel to Thailand has exacerbated the tourism outlook for the third quarter, with all hopes now resting on the high season. “With a surge of daily infections and record high fatalities being reported, the flow of travellers will automatically drop, […]
Read MoreThe lowering of deposit protection to a maximum of 1 million baht this month is unlikely to impact the confidence of the depositors on the financial institutions, said Krisada Chinavicharana, the Finance Ministry’s permanent secretary. According to the Deposit Protection Act, deposit protection will be lowered to a maximum of 1 million baht per account […]
Read MoreThe overall sentiment of foreign businesses operating in Thailand has plunged, as foreign investors are growing concerned about the severe Covid-19 infections and a delay in Thailand’s vaccine allocations. The new foreign business confidence index (FBCI), which gauges foreign business sentiment in Thailand, stood at only 27.7 in the second quarter of this year on […]
Read MoreSavings rates by locals at Thai and foreign commercial banks have more than doubled over the course of the pandemic, new data has revealed, with large depositors contributing the overwhelming majority of additional money. However, the lowering of deposit protection to a maximum of 1 million baht this month is unlikely to impact large depositors, […]
Read MoreModern trade sentiment fell to a three-year low due to the prolonged Covid-19 outbreaks, while operators were increasingly concerned about their liquidity and supply chains, according to a quarterly survey. The University of the Thai Chamber of Commerce (UTCC) on Monday reported that the modern trade sentiment index stood at 45.3 points (out of 100) in […]
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