Treasury managers from Bank of Ayudhya revealed that the baht opened the market this morning at 33.34 baht / dollar, appreciated from The market closed yesterday evening at 33.37/39 baht/dollar, moving in the opposite direction of the region that weakened after the dollar strengthened due to further concerns. Covid-19 epidemic situation and the tendency of the US Federal Reserve (Fed) to reduce the amount of the bond purchase program according to the measure Quantitative Easing (QE) Down
“Today, the baht opened the market to appreciate in contrast to the region. It may be from the previous one that it was already very weak. During the day, the baht is quite volatile. from the buying and selling pressure of importers and exporters,” said a treasury manager.
treasury Estimated the movement of the baht today at 33.30 – 33.45 baht / dollar.
THAI BAHT FIX 3M (19 Aug) is at 0.33838% while THAI BAHT FIX 6M is at 0.28745%.
- important factor
- The yen was at 109.84 yen/dollar from yesterday evening at 109.63/64 yen/dollar.
- The euro was at $1.1681/euro from 1.1690/94 yesterday evening.
- Baht/dollar exchange rate The BOT’s interbank weighted average stood at 33.409 baht/dollar.
- Minister of Finance reveals the case of the Governor of the Bank of Thailand proposed to the government to borrow an additional 1 trillion baht to heal
and take care of the economy after covids unfold that There has not been any discussion about the additional loan proposed by the Bank of Thailand because the Ministry of
Finance still has money that can still be used to manage during the covid situation from the issuance of the Royal Decree Loan 500 billion baht, which is still enough to support
Used to heal the current covid situation.
- News reports said that the Ministry of Finance is preparing to propose The Cabinet considers to maintain the VAT collection at the rate of 7% (tax included)
local) for the sale of goods, services or imports in all cases subject to further VAT. after the expiration of the original tax
On September 30, 64, it is expected to propose to extend the 7% VAT for another year, effective from October 1, 2004 to September 30, 65 to help reduce the burden.
living expenses for citizens And part of the VAT rate will be transferred to the local government under the law.
- Executive Vice President, Krungthai COMPASS Research Center, Krung Thai Bank, said that the Thai economic forecast has been adjusted.
This year, growth of 0.5%, which is the lowest level of the projected range of 0.5%-1.3% from the previous projection of the middle value of 0.9%.
from the COVID-19 situation
- “Supatanapong” pushes the Thai private sector to invest more Continuing innovation Creating Economic Opportunities After COVID pointing to the state to accelerate the construction of the ecosystem
High-tech, low-carbon industries, quality tourism, “SCG” raises the idea of ”Now Normal” to adapt innovation-digital immediately, pointing out that 4 businesses reach
Time to turn crisis into opportunity
- The chairman of the Trade Competition Commission (KhorKhor.) revealed that he is currently watching business mergers because it found that half
In the first year of 1964, more than 20 businesses reported mergers, which was beyond expectation. and also found that it is a business group that usually does not
merger, even before The NCCC has assessed that More businesses will combine to survive. Most of the businesses reported to be merged
Service business Technology business in the start-up group and most of them were owned by foreigners.
- The Thai Chamber of Commerce discusses the advisory committee of the Prime Minister struggling to find a way to “open a safe city”, proposes to do “Bangkok Sandbox” as a pilot to open a business
Retail, but employees – citizens who come to use the service must be vaccinated. or have no detectable results Before expanding the results to other businesses, ready to join hands with the CCP-
The Ministry of Public Health has established safety standards for infection control businesses.
- The U.S. Department of Labor said initial claims for unemployment benefits fell to 348,000 last week.
It was the fourth straight week of declines and the lowest level in 17 months since the outbreak of the coronavirus in the United States.
US in March 2020 from 377,000 the previous week.
- Goldman Sachs lowered its quarterly gross domestic product (GDP) growth forecast.
The US third year is down to 5.5% from the original forecast of 9%, and inflation in the US is expected to rise above expectations for the rest of the period.
of this year
- The US Dollar is strengthening against the major currencies. In trading at the New York Stock Exchange last night (Aug. 19),
Received the Federal Reserve (Fed) signaling a reduction in the amount of its bond-buying program following the quantitative easing (QE) this year.
Investors are also buying dollars as a safe haven currency. Amid concerns about the spread of the COVID-19 virus Delta species
- New York gold futures ended lower last night (August 19) on pressure from the dollar’s appreciation and
The US Federal Reserve (Fed) has signaled that it will begin cutting limits on its quantitative easing (QE) bond purchase program this year.
this
- Investors will keep an eye on the Fed’s annual meeting in Jackson Hole, Wyoming, on Aug. 26-28.
More clear signs of interest rate direction including the trend of reducing the QE limit in the said meeting
.
