Thailand is a stand out emerging market this year, despite the prolonged political uncertainty.
It’s attracted $13B in foreign investment, second only to South Korea in emerging Asia economies.
Bloomberg’s Haslinda Amin reports on “Daybreak Asia.” (Source: Bloomberg).
Since the beginning of 2016, the US dollar is down almost 4% against the Thai baht.
3 Reasons to Be Optimistic About the Baht Right Now
Probably one of the most important factors for the rise of the Baht is the continued weakness of the US dollar, which most experts agree is going to continue declining throughout the rest of the year.
The Thai Baht, our beleaguered currency, has had something of a difficult few years. Successful debt and inflation crises have eroded the value of the Baht numerous times, not least the events of 2015-16, which saw the Baht plunge to some of the lowest levels against the Dollar in history.(more…)
BoT warns against illegal use of Thai Baht-denominated Stablecoins
It has come to the Bank of Thailand’s attention that a new stablecoin, THT, has been created abroad on the Terra Platform.
Mr. Pruettipong Srimachand, Assistant Governor of the Legal Group, Bank of Thailand (BOT), has revealed that recent developments have seen the private sector attempting to create cryptocurrencies utilizing underlying assets or fiat currencies as an anchor to minimize price volatility. Such cryptocurrencies are known as stablecoins.(more…)
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