Nearly one year ago, Thailand’s military overthrew the
government in a bloodless coup, and commentators immediately began painting
doomsday scenarios around the country’s economy. Since then, the Thai economy has surged, and the Baht has
appreciated by over 20% and isn’t showing any signs of slowing. In response to concerns that the rising
currency would begin to hinder exports and economic growth, Thailand has
introduced a spate of measures designed to hold the currency in check. Namely, Thai businesses and citizens will be
afforded more flexibility in transferring money outside of the country and
keeping Thai currency in offshore accounts. MarketWatch reports:
“In the absence of a clear softening in the currency’s
upward momentum, we expect Thai authorities to continue to apply a variety of
measures — including further reductions in interest rates…”
Read More: Thailand relaxes currency rules to curb baht
Original post by Jimmy Atkinson and software by Elliott Back
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