Thai central bank to promote yuan-baht trade settlement
The BOT has been cooperating with other Asian central banks to establish local currency settlement frameworks, which aim to encourage the use of regional currencies for trade, investment, and tourism.
ASEAN members have agreed to increase the use of local currency transactions and push for a better regional payment connectivity, in a move that could be seen as a continuing shift in de-dollarization in the region.
ASEAN Central Banks Consider Dropping US Dollar, Euro and Yen in favour of local currencies
ASEAN Finance Ministers and Central Bank Governors are meeting to discuss reducing dependence on major global currencies in favour of local currencies for financial transactions.
How to Trade the EUR/USD Currency Pair: Professional Tips
The behaviour of the EUR/USD pair is a kind of indicator showing the comparative condition of the US and EU economies. If the US economy steadily grows, and problems arise in the EU, the EUR/USD decreases.
The US dollar has significantly strengthened against other currencies while the baht weakened to Bt32.33-32.35 against the dollar at the opening today – a decline in line with other currencies in the region.
Foreign capital starts flowing back to the United States, said Bank of Thailand governor Prasarn Trairatvorakul, following the improvement in the US economy.
