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Thai Crisis
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The situation is worsening in Thailand. Junta, Coup, Rumors, Elections, Terror In the South... The country is on a bumpy road. Like often before. But this time, it's different. The key to understand the present turmoil is the inevitable... disparition of
Recent Posts Tagged With 'Currency'
Chart, foreign currency reserves and US Treasuries : “Gimme more”
Britney Spears ? Nope. The Bank Of Thailand. Time passes and the BOT pursues with a striking constance -like all the other asian central banks- their suicidal mission : buying US Dollars, mountains of it, and worse US Treasuries, AKA US debts in US...
Exchange rate Drama : more non sense coming from so called “exporters”
The Exchange Rate Drama is unfolding. And some lala businessmen are crying like babies. Thailand’s exports are unlikely to achieve 10% growth next year if the government leaves the baht’s appreciation unchecked, exporters warn. “Ong...
Dance of the suckers : thai Central bank “intervenes” to curb THB gains
We had an interesting string of events this week : -dollar was hammered -gold shot up … and Asian central banks said to be intervening in currency markets overnight by buying dollars included South Korea, Hong Kong, Taiwan, Thailand, the Philip...
Chart, foreign reserves, and exchange rate
Gold 1, 2, 3 lift off ! 1042 USD/ounce last night ! Cause and effect of a crashing US Dollar… Time to update the charts about the foreign currency reserves of the Bank Of Thailand. Like virtually all central banks in the world, the BOT is happ...
Foreign currency reserves, + 17 % in august : the Bank Of Thailand on a crash course
The chart speaks by itself. Foreign currency reserves (+ forward positions) reached 138 billions USD at the end of august, an increase of 18 % y-o-y, compared to august 2008 ! But meanwhile… the USD is losing ground versus the THB… Let&#...
The 122 billions USD question : should Thailand use its foreign currency reserves ?
Since a few weeks, we hear calls for the BOT to use its foreign currency reserves, in order to boost the domestic economy. People don’t understand why the government should borrow billions of USD… when the BOT has a total of 122 billions ...
Chart : US Treasuries, BOT foreign currency reserves and USD-THB exchange rate
Here is an update of my first article about thai holding of US Treasuries. But with some goodies. First a definition : United States Treasury security is a government debt issued by the United States Department of the Treasury through the Bureau of t...
Chart, foreign currency reserves : BOT stockpiles USD… like other BRIC countries
Et voila ! The “beggar thy neighbor” virus strikes again ! The BRICs are buying dollars at the fastest pace since before credit markets froze in September, protecting exports even as leaders of the biggest emerging markets consider altern...
Currency nonsense : “THB is too strong” dixit Chamber of Commerce
The baht is currently too strong at 34 to the US dollar and the Bank of Thailand should step in to stabilise it at a realistic rate, Archava Taolanond, honorary chairman of the Thai Chamber of Commerce, said on Tuesday. Mr Archava suggested the centr...
Chart, BOT’s reserves : forward positions are going down, the coal mine canary makes some noise
I wrote last december : The forward positions play the role of the coal mine canary. What are forward positions ? Forward positions = Bank of Thailand’s forward obligations to buy (long) or sell (short) foreign currency against Thai Baht (official ...
