The United States Treasury has published a watch list of countries with currency manipulation in order to hopefully gain a trade advantage with the United States and Thailand is not included in the watch list.
However, the Bank of Thailand (BOT) stated that it is still necessary to closely monitor the situation because the United States has adjusted the rules for listing trading partner countries and the global trade is worrisome.
BOT Governor Wirathai Santipraphop stated that the United States Treasury has published a watch list of nine trading partner countries with currency manipulation and Thailand is not included in the watch list.
According to the amended criteria, countries with a current account surplus with the US equivalent to 2% of GDP are put on the monitoring list, down from 3%.
This reflects that over the past two to three years of mutual dialogue between Thailand and the United States, it has been well understood that Thailand has not intervened in the currency for a trade advantage with the United States in any way.
However, it is necessary to maintain the exchange rate, closely follow trading partner countries and closely follow up on the issue because the United States has adjusted the rules in considering listing the countries which distort the currency in many criteria and the competition in the world trade arena has become more intense.
The United States Treasury has published a half-year report which includes nine partner countries from the six existingcountries on the watch list. They consist of China, Germany, Japan, South Korea, Ireland, Italy, Malaysia, Singapore and Vietnam.
Innovative Asian Blockchain Companies Who Are Taking Over
The acceptance and regulation of cryptocurrency in Asia may be polarised depending on location, but one thing is for sure. Companies spanning the whole of Asia value blockchain technology and are putting it to good use.
Asia has always been at the forefront of technological innovation, and that is no different when it comes to blockchain technology. What was primarily developed to make peer-to-peer payments easier has now merged into new areas.(more…)
Building ASEAN Banking Cybersecurity resilience
Technological revolutions come with their own form of risk: cyber risks. The more “digital” banks become, the more channels for potential points of attacks from cyber criminals, who are constantly evolving to exploit new loopholes.
Technology and the internet have undeniably become integrated into our daily lives. Customers’ behaviors continue to evolve and adapt to the technological progresses. In response, new technologies are developed to serve and accommodate customers’ ever-evolving needs.(more…)
Thailand prepares for cryptocurrency challenges
Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete while transactions via electronic payments have increased over recent years.
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...
How is Thailand Bringing Technology to the Table?
In Asia, a country like Thailand has taken the initiative to implement agricultural biotechnology in its industry. The country has...