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Bank of Thailand to extend the Renminbi – Thai Baht Bilateral Swap Agreement

Under this BSA, as in the previous agreement, the amount of RMB 70 billion or THB 370 billion shall be made available for a period of 3 years.

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The People’s Bank of China (PBC) and the Bank of Thailand (BOT) signed the Extension and Amendment Agreement to extend the Renminbi – Thai Baht Bilateral Swap Agreement (BSA).

Under this BSA, as in the previous agreement, the amount of RMB 70 billion or THB 370 billion shall be made available for a period of 3 years.

The swap transactions between the BOT and the PBC will provide an access for both
central banks to the local currency of the other party. This would bolster confidence of the private sectors as well as financial institutions on the availability of local currency for cross-border trade and investment settlement.

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Banking

Thai central bank steps in to curb baht price’s surge

The baht has risen about 5.6 percent against the US dollar this year, becoming Asia’s best performing currency, putting more pressure on Thailand’s export-driven economy at a time when global demand is cooling

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The Bank of Thailand is taking measures to control short-term capital inflows, while continuing to relax restrictions on outflows to cope with the strong baht, according to minutes of a policy meeting last month.

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Banking

SCB cuts GDP growth forecast to 3.1%

The EIC has revised downwards its Thai economic expectations in 2019 to 3.1 percent from 3.3 percent, largely as a result of the trade war between the United States and China

National News Bureau of Thailand

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SCB cuts GDP growth forecast to 3.1%

Bangkok, (NNT) – Government investment remains the main factor in steering the economy as the trade war between the United States and China has affected exports, tourism and investment.

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Political uncertainty takes toll on Thai growth

The country’s growth rate is projected to fall from 4.1 percent in 2018 to 3.5 percent in 2019, according to the World Bank’s Thailand Economic Monitor, released today.

Olivier Languepin

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According to the World Bank’s Thailand Economic Monitor (July edition), risk to the economic outlook in Thailand are primarily domestic.

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