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.
The Importance of E-Wallets for Online Gaming Sites
With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.
Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures
The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.
BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.(more…)
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