Stories tagged with dollar
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Baht on 10-year high against dollar
The Thai baht has appreciated to 33.13 to the US dollar as of January 14, making it the strongest it has been in the last 10 years. The continually weakening dollar coupled with the strong baht is the cause.
The Bank of Ayuthaya foreign exchange department has also predicted the baht would strengthen further against the dollar to eventually breach the 33.00 mark.
Concerns of a US economic slowdown have lead to the current US dollar weakening and the Thai baht strengthening will no doubt have an effect on the number of tourists who choose Thailand as a holiday destination this year.
According to US trade figures for November, Thailand had a trade deficit of US$6.3 billion, which is the highest figure in 14 months; the cause being an increase in imports and fuel prices.
Surprisingly, Thailand’s exports actually showed a rise of 0.4 per cent on the previous month, making it a record one-month high owing to the weaker US dollar.
However, Thailand's Stock Exchange index, along with other regional markets, continued to drop during the morning trading session.
Posted by: Andrew on 14 Jan 2008, 19:36