With the endeavors of policy makers in the previous year, the bath has risen by nearly 10 percent against the USD. Should the Bank of Thailand seek to assuage US concerns and avoid a range of possible penalties this year, it would likely lead to gains for its currency, potentially reducing its export competitiveness. The bath of Thailand. (Photo: Bnews.vn) According to the National Statistical Office of Thailand, Thailand’s trade surplus with the US was estimated at USD 16.7 billion at the end of October 2017, and its current-account excess has been more than 10 percent of the gross domestic product (GDP) as of September 2017. Thailand has passed the two percent intervention threshold and is one of the 16 countries cited by the US as running high trade surpluses with the US. Thailand is also among nations with the biggest percentage gains among Asian emerging markets in their foreign-exchange reserves last year. Source: VNA
The reason is due to the stable exchange rates and low interest rates (lower than 3 percent of loans in VND a year), so businesses took advantage of the foreign currency loans to reduce costs.Similarly, the country’s foreign currency loans also were up 11.5 percent in the first ten months of 2017 compared to the end of 2016. According to the National Financial Supervisory Commission, the main reason is also due to the import demand being higher than to last year.According to circular of the State Bank, the foreign currency loans will be invalid by the end of 2017. So, the…... [read more]
The interbank dollar exchange rate has advanced 185 VND per dollar, or0.9 percent, since September when the central bank committed to keepingthe forex fluctuation under 1 percent until the end of this year. Following the move, Vietcombank on Dec. 14 also lifted the dollarexchange rates by 8-10 VND over the previous day to 21,015/21,019 VND.Vietinbank quoted the greenback at 21,018/21,021 VND while Eximbank andACB figures were 21,000/21,021 VND. On the black market, the greenback stood at 21,130/21,180 VND per dollar, up 30 VND over the previous day. Vice chairman of the Lien Viet Post Bank, Nguyen Duc Huong said therewas…... [read more]
According to statistics, total investment capital for Thai Nguyen Province’s new rural area construction program in the 2011-2013 period reached over VND22 trillion, including VND1.74 trillion from direct capital, VND1.75 trillion from indirect capital, VND14 trillion from credit capital, VND3 trillion from businesses and other financial resources. In addition to direct capital from the state, Thai Nguyen Province issued a resolution for each period. In the 2012-2015 period, the province adopts mechanisms and policies to support the building of rural infrastructure. In the 2013-2015 period, the provincial budget supports minimum investment capital of VND2 billion per year per main commune…... [read more]
ODA disbursement increased by 10 percent in the first nine months of this year compared to a year agoODA disbursement in the first nine months of this year reached US$4.105 billion, an increase of 10 percent compared to the same period last year. This amount included US$4.015 billion in preferential loans, with the remainder being grants. Over US$350 million was disbursed in September alone. According to the Ministry of Planning and Investment, ODA disbursement achieved positive results thanks to a number of measures to prevent negative impacts. For example, the conference on promoting disbursement organized on March 29 between the…... [read more]
According to the Cambodian side, Thai troops fired artillery shells ontothe disputed area in the vicinity of the 1,000 year-old temple Ta MonThom in Cambodia's Oddar Meanchey province bordering Thailand's Surinprovince.Meanwhile, sources from the Thai army were quoted assaying that the fighting broke out at 10 a.m and fires were heard at thedisputed area. At least 12 soldiers were killed and 23others were injured on both sides during the first three days of theirclashes in the vicinity of two ancient temples known as Ta Moan Thom andTa Kwai to Cambodians and as Ta Moan and Ta Krakei to Thais. According…... [read more]
