Banking

Dollars go Home

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

Published

8 years ago

June 11, 2013

Bahar Karaman

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.

Asean

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

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Published

3 weeks ago

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Asian Development Bank

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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.

Published

3 weeks ago

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Olivier Languepin

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Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

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Published

4 weeks ago

March 22, 2021

Headline Editor

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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