Foreign capital starts flowing back to the United States, said Bank of Thailand governor Prasarn Trairatvorakul, following the improvement in the US economy.

He said on Tuesday that Thailand has witnessed some outflows as well. He urged all businesses dealing with foreign income to stay fully alert for volatility.

Thanks to the outflows, US dollar has gained against major currencies. The Thai baht has fallen to a new 1-year low, near 31 per dollar. At 8am today, the baht was at 30.78 per dollar, against the end-2012 closing at 30.60.

More foreign capital is expected to return to the US, if the US Federal Reserve Board decides to end the quantitative easing before 2014. The Stock Exchange of Thailand has tumbled today, losing 66.97 points at 2.35pm to 1,461.58 points.

Standard & Poor’s Ratings Services yesterday also revised the ratings outlook of the US from “negative” to “stable” on receding fiscal risks. The US’s ratings “’AA+/A-1+” were affirmed.

via Foreign capital starts to flow back to US – The Nation.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand to further regulate payments in crypto-currencies

The three institutions intend to avert potential impacts on the country’s financial stability and economic system, the Bank of Thailand, the Securities and Exchange Commission and Ministry of Finance said in a joint statement.

Bank of Thailand warns of risks of cyber theft when using cryptocurrencies

The future looks promising for cryptocurrencies in Thailand after Siam Commercial Bank Pcl – Thailand’s oldest private bank- invested 17.85 billion baht ($525 Mln) to buy 51% of Thailand’s leading digital asset exchange, Bitkub Online Co.

Thailand leads the world in adoption of next-gen financial services

More change has occurred in Thailand’s banking scene in the last two years than had occurred during the previous ten years, with the rate of change continuing to accelerate at pace.