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Bank of Thailand (BoT) minimise impact of baht rise on exports

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Bank of Thailand (BoT) Assistant Governor Suchada Kirakul on Tuesday downplayed mounting concerns over the continued strengthening of the baht, saying the situation would not affect the export competitiveness because the currency had appreciated in the same direction with other currencies in the region.

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Since early this year, she said, the Malaysian ringgit had strengthened most by 3.3 per cent, followed by the Thai baht by 3.18 per cent, the Indonesian rupiah by 3.17 per cent, and the Korean won by 2.68 per cent.

From early March until now, the baht had risen by 2.23 per cent, the fourth after the ringgit by 2.6 per cent, the rupiah by 2.5 per cent and the Korean won by 2.3 per cent.

Mrs. Suchada said the baht had appreciated because foreign investors had shifted their investment from low-risk assets to high-risk assets, particularly Asian stock markets including Thai bourse, as they believed the global economy had recovered markedly.

via BoT shrugs off impact of baht rise on exports.

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Asian Development Bank

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Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

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Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

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Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

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