Connect with us

Banking

Thai Baht currency control mulled by central bank

The Industry Minister proposed measures to help business owners, such as the promotion of Thai Baht as a currency for international trade to reduce the risks from US Dollar currency fluctuation

Published

on

forex 001

BANGKOK, 15th August 2019 (NNT) – The Minister of Industry has held talks with the Bank of Thailand’s Governor over measures to control the fluctuation of Thai Baht currency, minimize impacts faced by SMEs and promote the import of machinery during this time to take advantage of the stronger currency.

The Minister of Industry Suriya Juangroongruangkit held talks with Bank of Thailand’s Governor Veerathai Santiprabhob and expressed his satisfaction with Bank of Thailand’s existing measures and attempts to control the currency.

The Industry Minister proposed measures to help business owners, such as the promotion of Thai Baht as a currency for international trade to reduce the risks from US Dollar currency fluctuation, encouraging business owners to purchase currency exchange insurance packages and encouraging them to import machinery during this time while Thai Baht currency is stronger.

The Ministry of Industry will be discussing with the Board of Investment (BOI) plans to issue tax incentives for machinery importers, which will help weaken the Thai currency and help increase competitiveness among local SMEs.

Meanwhile, Deputy Prime Minister Somkid Jatusripitak today held talks with executives at the Ministry of Industry, proposing guidelines for the BOI to support further investments by the private sector, including the machinery purchasing promotion and other support measures for SMEs.

Source link

Click to comment

Leave a Reply

Banking

The Thai banking system remained resilient in Q3 2021 says BoT

The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.

Published

on

64cb74e9 atm bank

The Thai banking system remained resilient with high levels of capital fund, loan loss provision and liquidity to serve an important role in assisting borrowers and accommodating loan demand to support economic recovery amidst uncertain COVID-19 situation, said Bank of Thailand latest press release.

(more…)
Continue Reading

Economics

Stable outlook for APAC sovereigns as growth rebounds and debt stabilizes

Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.

Published

on

moodys flare

Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.

(more…)
Continue Reading

Recent

Most Read

Join 14,204 other subscribers