The Magazine for Asian Investors
The treasurer of the Bank of Ayudhya announced that the baht opened at 32.40 baht/dollar this morning, up from 32.52 baht/dollar.
This development counteracts the region’s weakness against the dollar. This is due to foreign capital flowing into the equity and bond markets.
“The baht appreciated to a new low in the past 5 months, moving in the opposite direction to the region because of the continuous inflow of funds. And today is expected to be supported by gold exporters as well,”said the money manager
Currency managers estimate the baht’s movements today at 32.25 – 32.50 baht/dollar.
– The Bank of Thailand reveals the results of a survey on the trend of loan applications in the first quarter of 2021, growing in all business sectors to be used as working capital, acquisitions, and TTB shows that loan demand has increased for 6 consecutive months, supporting growth in business loans of 8% this year.
– The Ministry of Finance reports government revenue of 758 billion baht for the first four months of fiscal year 2022, above the target of 42.6 billion baht, while the tax collection target of 70 billion baht is due to the economy starting to fully support itself.
– The Director-General of the Ministry of Industrial Works expects Thai investment to increase by 15% again this year when the government declares Covid-19 an endemic disease. To boost the confidence of Thai and foreign investors, Thailand is the only investment destination after many industries have problems with the distribution of production sources as they were hit hard during the coronavirus.