The central bank next week will unveil measures for further liberalisation of the foreign-exchange market, facilitating greater outflows to help ease pressure on the baht.”2009 was a challenging year …
Risks persist, though, on fragile global economic recovery,” Bank of Thailand Governor Tarisa Watanagase told a BOT-sponsored conference yesterday.”Capital flows will be more volatile this year. Funds will flow to countries that witness fast recovery. We saw the signals that pressured the baht late last year.
Excessive inflows can lead to asset bubbles if we’re not careful.”Aside from liberalisation, which will also support Thai companies’ relocation of labour-intensive activities elsewhere, currency-hedging tools will be offered to entrepreneurs, in order to ensure reasonable cost.Last year, Thailand welcomed net capital inflows of US$22.6 billion Bt748 billion: $20 billion as trade surplus, $1.5 billion through the bond market and $1.1 billion through the stock market. Inflows boosted foreign reserves, which stood at $134.7 billion as of last November, up from $85.1 billion at the end of 2007.
12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)
The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.
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.
APAC Banks to Face Portfolio Valuation Losses As Yields Rise
The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.
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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