10 Jul 2020
Financial Markets
The Baht traded at the weaker side of THB31.00/USD in line with some other regional currencies. The Baht also fell after the Bank of Thailand signaled that a stronger Baht could have negative impacts on Thailand’s economy, while related officials have considered needed measures to help stabilize the... Read more
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7 Jul 2020
Financial Institutions
According to the latest information, Thailand’s outstanding household debt in 1Q20 fell by THB 3.56 billion compared to the previous quarter – down to THB 13.47 trillion, the first such drop in four and a half years, and close to the outstanding household debt of THB 13.48 trillion in late 2019; due... Read more
26 Jun 2020
The Baht rose in line with other regional currencies amid easing lockdown measures. The Asian currencies were also supported by an assurance that the phase one US-China trade deal is still intact. The Baht rose slightly after the BOT’s MPC kept its policy rate unchanged at 0.50%. However, the Baht’s... Read more
22 Jun 2020
The Bank of Thailand (BOT) is forging ahead with its Phase II package of relief measures for small borrowers, which will emphasize relieving the financial burden of retail debtors by lowering the interest rate ceiling on credit cards and personal loans, as well as cutting the interest rate for refin... Read more
Regarding the Monetary Policy Committee (MPC) Meeting on June 24, 2020, KResearch has assessed that the committee will consider putting the policy rate on hold at 0.50 percent as it waits to gauge the effectiveness of the monetary and fiscal measures that were previously issued. These measures inclu... Read more
19 Jun 2020
The Baht traded in a narrow range against the US dollar. The Baht weakened early to mid-week along with other regional currencies, as the US dollar gained as a safe-haven currency amid worries about a second wave of the COVID-19 pandemic, especially in the US and China. The US dollar was also suppor... Read more
12 Jun 2020
The Baht broke the THB31.00/USD level to hit an over 4-month high of THB30.83/USD. The Baht rose early in the week in line with net foreign bond purchases, US dollar sales coming from exporters, as well as technical US dollar selling orders. In addition, the US dollar faced sell-offs after the Fed s... Read more
5 Jun 2020
The Baht hit the strongest level in 2-1/2 months, as the currency traded near THB31.45/USD. The Baht rose along with other regional currencies, as well as net foreign Thai stock and bond buying orders. The Baht gained, although the Bank of Thailand (BOT) has signaled to closely monitor the Bath’s mo... Read more
4 Jun 2020
In April 2020, many countries around the world, including Thailand, began to implement lockdown measures to combat the coronavirus (COVID-19) pandemic. This has resulted in economic stagnation. At the same time, foreign investors became net sellers of Thai stocks and bonds. Meanwhile, the Baht has g... Read more
29 May 2020
The coronavirus (COVID-19) pandemic has altered the business environment of commercial banks in two ways: 1) The speed of disruption has become faster; and, 2) There has been a “New Normal” environment in the commercial banking business. Such changes have inevitably affected business model of commer... Read more
The Baht gradually rose after having fallen early in the week on sell-offs of Thai stocks and bonds by foreign investors. Meanwhile, the US dollar was supported by its safe haven appeal amid rising tensions between the US-China. The Baht rebounded later in line with other regional currencies on hope... Read more
25 May 2020
The Monetary Policy Committee’s decision to trim its policy rate on May 20, 2020 has prompted commercial banks in Thailand to cut their interest rates once again a few days after that. Large commercial banks have concurrently announced to reduce their minimum loan rates (MLR), minimum retail rates (... Read more
22 May 2020
The Baht gradually strengthened, but pared gains somewhat at the end of the week. The Baht rose early in the week in line with the recovery of risky assets on hopes for the COVID-19 vaccine, which supported other regional currencies, as well. In addition, the sell-offs of US dollar by exporters and ... Read more
18 May 2020
KResearch expects the Monetary Policy Committee (MPC) to consider adjusting interest rate downward by 0.25 percent from the current level of 0.75 percent to 0.50 percent, amid this risk-prone economic environment. The Thai economy has been significantly affected by the outbreak of COVID-19, as it ex... Read more
15 May 2020
The Baht rose against the US dollar, and hit a 2-month high of THB32.02/USD around mid-week. The Baht rose amid net foreign bond buying orders and signs for reopening economic activities in many countries. Meanwhile, the US dollar fell on a disappointing US April CPI data, posting the biggest drop i... Read more
8 May 2020
The Baht rose to a 1-1/2 month high against the US dollar. The Baht edged down early in the week in line with net foreign stock and bond selling orders, while the US dollar rose as a safe-currency on worries about the global economic recession. However, the Baht rebounded strongly later in the week,... Read more
24 Apr 2020
The Baht rose slightly before paring gains somewhat later in the week. The Baht strengthened during early- to mid-week amid US dollar-selling orders from exporters, and net foreign bond buying orders. The Baht and other regional currencies also gained along with other risky assets, led by oil prices... Read more
17 Apr 2020
The Baht traded in a narrow range but rose slightly later in the week. The Baht weakened earlier in the week amid concerns about the impacts of COVID-19 on the global economy, including that of Thailand. However, the Baht recovered later in the week on USD-selling orders from exporters, while the US... Read more
10 Apr 2020
The Baht rose against the US dollar. The Baht gained early in the week along with other Asian risky assets on the back of hopes that the COVID-19 outbreak would lessen in many countries. Meanwhile, the US dollar faced sell-offs later in the week, after the Fed unveiled new relief measures worth USD2... Read more
8 Apr 2020
On 7 April 2020, the Bank of Thailand (BOT) issued additional measures to assist the private sector in combating the COVID-19 which primarily concern short-term liquidity boosting measures offered to small to medium enterprises (SMEs) that have been affected by the spread of the COVID-19 virus – a g... Read more
3 Apr 2020
The Baht weakened against the US dollar. The Baht was pressured by concerns over the economic impacts of COVID-19 worldwide, including Thailand, as well as net foreign stock and bond selling orders. In addition, the Baht fell along with other regional currencies. However, the Baht pared losses somew... Read more
27 Mar 2020
The Baht recovered, after having briefly weakened to THB33.00/USD amid concerns over negative impacts of the COVID-19 outbreak in Thailand, and net foreign fund outflows. The Baht, however, rebounded later in the week, as the US dollar tumbled on the Fed’s announcement on the unlimited QE measures. ... Read more
24 Mar 2020
The unfolding COVID-19 pandemic has created a new record for the Thai retail insurance market with the total sales of insurance policies projected to reach more than 1 million in March 2020 alone. If so, the total sales of insurance policies overall in 2020 may top roughly 2-3 million, representing ... Read more
20 Mar 2020
The Baht continued to weaken against the US dollar. The Baht fell along with net foreign stock and bond buying orders, as well as concerns about the Thai economic outlook due to the COVID-19 outbreak. The Baht hit a 15-month low of THB32.74/USD before rebounding somewhat later in the week, after sev... Read more
13 Mar 2020
The Baht weakened against the US dollar. The Baht fell while the global and Thai financial markets were highly volatile amid rising concerns towards the WHO’s announcement that the COVID-19 outbreak entered the pandemic phase. The Baht was also pressured by weak regional currencies, and net foreign ... Read more
6 Mar 2020
The Baht moved in the tight range throughout the week, although it strengthened at the end of the week. The Baht was under pressure (in line with other regional currencies) from concerns over the economic impact of the COVID-19 outbreak, while net foreign selling orders for Thai stocks and bonds dur... Read more
28 Feb 2020
The Baht rebounded later in the week, having recouped losses during early to mid-week, after the Baht weakened in line with other regional currencies amid growing concerns about the COVID-19 outbreak outside of China. The Baht also fell on net foreign selling orders for Thai stocks and bonds. The Ba... Read more
21 Feb 2020
The Baht weakened along with the Yuan and other regional currencies amid concerns about the COVID-19 outbreak situation, after there was an increase in COVID-19 infections outside China. In addition, the Baht fell on technical selling orders, after it broke the THB31.50/USD level. Signs of a weak ec... Read more
14 Feb 2020
The Baht rose slightly against the US dollar. The Baht was supported by net foreign buying orders for Thai bonds and strong regional currencies earlier in the week after a report showed that the rate of Coronavirus (COVID-19) infections slowed somewhat. However, news that there was a surge in COVID-... Read more
7 Feb 2020
The Baht weakened later in the week. The Baht rose slightly early in the week due to position adjustments before the BOT’s MPC meeting. However, the Baht dropped later during the rest of the week after the BOT decided to cut its policy rate to 1.00%, while the BOT governor said that although the Bah... Read more
31 Jan 2020
The Baht weakened in line with other regional currencies amid concerns over the economic impact of the novel coronavirus outbreak. In addition, the Baht was weighed down by net foreign stock selling during the week, and domestic US dollar demand at the month-end. ... Read more
24 Jan 2020
The Baht fell against the US dollar. The Baht rose early in the week along with regional currencies amid profit-taking on the US dollar’s gains fueled by strong US economic reports released before. However, the Baht reversed those gains and fell in line with Asian peers, led by the Yuan, on the back... Read more
22 Jan 2020
The reduction in home ownership transfer fee in early 2020 and the Bank of Thailand’s decision to relax its loan-to-value (LTV) regulations for first-and second-time home buyers on January 20, 2020, with the aim of promoting home ownership and increasing consumer house-buying power, will likely give... Read more
17 Jan 2020
Thailand’s household debt continued to surge amid the slowing economy as the size of the household debt relative to GDP rose to 79.1 percent in 3Q19, the highest in almost three years. The high level of household debt nationwide is consistent with KResearch’s survey on household debt and savings in ... Read more
15 Jan 2020
The Bank of Thailand recently revealed details on the improvements of calculation methods for interests and service charges, with the aim of protecting consumers in three areas. These include: 1) prepayment penalties for SME and personal loans; 2) default interests that must be based on outstanding ... Read more
10 Jan 2020
The Baht rebounded later in the week. The Baht moved within a tight range early in the week before hitting a 1-month low of THB30.37/USD in line with weak regional currencies amid concerns over rising tensions in the Middle East, as Iran attacked US troops in Iraq in response to US airstrike on Janu... Read more
3 Jan 2020
The Baht reversed gains and weakened against the US dollar in the first two trading days of the year, but it continued to be traded in a narrow range. The BOT signaled to closely monitor its movement after the Baht broke the THB30.00/USD level to hit a 6-1/2 year high of THB29.75/USD amid thin tradi... Read more
27 Dec 2019
The Baht rose to test THB30.15/USD amid the US dollar’s sell-offs on the back of weaker-than-expected US durable goods and new home sales data. However, the Baht’s weekly movement was tight due to thin trading volume before the year-end holidays. ... Read more
25 Dec 2019
According to the statements of assets and liability (C.B. 1.1) of 14 Thai commercial banks as of the end of November 2019, net loans increased only slightly despite the loan drawdown season. The marginal rise in net loans was due to the negative factors stemming from loan repayment by the business s... Read more
20 Dec 2019
The Baht rose to test the THB30.15/USD. The Baht strengthened on the back of strong regional currencies, led by the Yuan amid news reports that the US and China were close to finalize the first phase of a trade deal. The US dollar faced sell-offs after the Fed signaled that it would not raise its p... Read more
17 Dec 2019
We at KResearch expect that the Bank of Thailand’s Monetary Policy Committee (MPC) will likely keep its policy rate steady at 1.25 percent during the final meeting of 2019 slated for December 18, 2019 pending a domestic economic assessment going forward. ... Read more
13 Dec 2019
6 Dec 2019
The Baht weakened against the US dollar. The Baht faced sell-offs early in the week in line with falling safe-haven currencies and assets, triggered by stronger-than-expected Chinese PMI data. The Baht fell further later in the week to a 1-month low of THB30.38/USD, after the BOT signaled to closely... Read more
29 Nov 2019
The Baht traded in a narrow range almost all trading days of the week. The Baht fell early in the week after both the US and Chinese Presidents signaled a possible trade deal between the two countries. The US dollar also gained on stronger-than-expected 3Q-2019 GDP and October durable goods orders d... Read more
25 Nov 2019
Net loans in October 2019 decreased from the previous month by 87.7 billion Baht amid the pressure on loans at almost all banks, especially from debt repayment by the corporate sector, SME business operators and the government. Nonetheless, retail loans, namely, personal loan and other unsecured loa... Read more
22 Nov 2019
The Baht traded in a narrow range. The Baht fell early in the week on the back of positive developments for the first phase of the US-China trade deal. However, the Baht rebounded and traded in a tight range later in the week after the US President Donald Trump threatened to raise tariffs on importe... Read more
19 Nov 2019
Digital-only banking is a banking business in the modern age that can be categorized into two types based on business models, which aim at different groups of customers: First, digital-only banks which focus on servicing low to medium income earners who face certain limitations in accessing financi... Read more
15 Nov 2019
The Baht strengthened against the US dollar. Regarded as a safe-haven currency, the Baht rose in line with the JPY amid concerns about the US-China trade talks. The US President Donald Trump said earlier in the week that there was no agreement yet to roll back tariffs on imported goods from China, a... Read more
13 Nov 2019
As the Thai economy has shown signs of slowing, the Monetary Policy Committee (MPC) has decided to cut the policy rate for the second time this year to 1.25 percent per annum during its meeting on November 6, 2019. The central bank’s policy rate cut has been passed on to the interest rate reduction ... Read more
11 Nov 2019
When looking back at Thailand’s recent financial history, the search-for-yield behavior has always occurred regardless of how low or high the interest rate was at that given period. At any rate, during the slowing economy, which often comes with a low interest rate environment, people are more likel... Read more
8 Nov 2019
The Baht fell to THB30.43/USD, the weakest level in 3 weeks. The Baht faced hefty sell-offs after the BOT’s MPC decided to cut its policy rate to 1.25% and relaxed rules to facilitate capital outflows and lessen pressure on the Thai baht. Moreover, a weaker Baht was also in line with other safe-have... Read more
7 Nov 2019
On November 6, 2019, the Bank of Thailand (BOT) announced the “Relaxation of rules to facilitate capital outflows and lessen pressure on the Thai Baht”, while the Monetary Policy Committee (MPC) resolved to cut its policy rate to 1.25 percent. Their concurrent actions have caused the Baht to weaken ... Read more
1 Nov 2019
Signs of a slowing economy in terms of exports, domestic spending and relatively low inflation reflect the vulnerabilities of the Thai economy, while the impact from the lackluster exports has begun seeping into the real economic sector. Although the government recently introduced a series of econom... Read more
The Baht traded in a narrow range near THB30.15/USD, which is the strongest level in over six years. The Baht briefly fell early in the week in line with a weaker JPY, which was seen as a safe-haven currency after the US and China signaled that they were close to finalize some parts of their trade d... Read more
25 Oct 2019
Net loans of commercial banks in September 2019 expanded within a limited range, due to lackluster signs of overall economic activity. Moreover, some big commercial banks have exercised a cautious approach in approving loans to ensure the quality of loans. Meanwhile, the growth of small and medium s... Read more
The Baht hit a new 6-year high. The Baht rose along with other regional currencies amid foreign investors’ net buying orders for Thai bonds early in the week. Meanwhile, the US dollar fell on weak US economic data, reinforcing expectations that the Fed would cut its benchmark rate further at the FOM... Read more
18 Oct 2019
The Baht rose to test the THB30.25/USD level last week. The Baht briefly fell early-to mid-week in line with other regional currencies amid concerns about the slower global growth outlook. However, the Baht rebounded later in the week on the back of the US dollar’s sell-offs due to weak US economic ... Read more
17 Oct 2019
Although 3Q19 earnings of Thai commercial banks show that the Thai commercial banking system overall has been able to maintain profitability from extraordinary items, cut expenses from setting aside reserves and undertake efficient cost management, KResearch has assessed that the sluggish Thai econo... Read more
16 Oct 2019
The continuously strengthening Thai Baht has caused worries among the export-related business sector and the domestic tourism industry. Since the beginning of 2019, the Thai Baht has risen 7.4 percent against the greenback and other key major and regional currencies. The Thai currency has surged in ... Read more
11 Oct 2019
The Baht weakened late last week after hitting an over 6-year high of THB30.25/USD. The Baht rose early in the week as a safe-haven currency amid concerns about conflicts between the US and China over their trade renegotiations, as well as between the EU and UK on the BREXIT issue. However, the Baht... Read more
9 Oct 2019
The Baht has appreciated to test THB30.30/USD, representing the strongest in more than six years and Asia’s best-performing currency. The Thai currency has strengthened by approximately 7.4 percent against the greenback, outpacing the Indonesian Rupiah and Philippine Peso, which have appreciated onl... Read more
4 Oct 2019
The Baht strengthened late last week. The Baht fell early to mid-week on weak regional currencies, and risky assets amid heightened trade war tension, concerns over BREXIT, and an economic slowdown in the US and Eurozone. The Baht also tumbled along with net foreign stock selling orders. The Baht, h... Read more
27 Sep 2019
The Baht fell to the weaker side of THB30.60/USD last week. The Baht weakened on the back of net foreign stock and bond selling orders during the week. Meanwhile, most Asian currencies were weighed down by uncertainties about the global economic outlook, and the UK’s BREXIT solution. The US dollar a... Read more
26 Sep 2019
Net loans of commercial banks (14 banks) in August 2019 increased only 3.84 percent YoY, the same growth as the rate registered in July 2019, which is the lowest rate in 21 months. Loan outstandings continue to slow in alignment with the overall economic sentiment. In particular, business loans are ... Read more
19 Sep 2019
We at KResearch expect that the Bank of Thailand (BOT)’s Monetary Policy Committee (MPC) will likely maintain its policy rate at 1.50 percent during the sixth meeting of 2019 slated for September 25, 2019. The fact that 3Q19 economic indicators did not deteriorate from those seen in 2Q19 may give th... Read more
13 Sep 2019
The Baht hit a 6-year high of THB30.36/USD in line with movements of the Yuan and other regional currencies amid positive signals of the US-China trade conflicts. The US delayed to raise tariffs on USD250 billion of Chinese imports until October 15 from October 1, while China announced lists of the ... Read more
10 Sep 2019
Life insurance premiums received in 1H19 totaled THB295 billion, contracting 6.1 percent YoY. In 2H19, the business is likely to slightly rebound, but the mild recovery is not enough to push the overall business performance for the whole of 2019 back to positive territory. Total life insurance pre... Read more
6 Sep 2019
The Baht was volatile last week. The Baht fell early in the week, along with the Yuan and other regional currencies, amid concerns about the US-China trade dispute. The Baht rebounded later, while the US dollar faced sell-offs after the ISM Manufacturing Index showed a contraction in the US manufact... Read more
30 Aug 2019
The Baht hit an almost 2-month high of THB30.55/USD last week. The Baht rose earlier in the week along with other safe-haven assets after the US and China announced to raise tariffs on each other’s goods, heightening tension over the trade war tension. The Baht fell briefly during the week on US do... Read more
23 Aug 2019
The Baht rose against the US dollar. The Baht rose early to mid week, along with other regional currencies while the US dollar faced sell-offs on concerns about the US economic outlook and falling US Treasury bond yields. The Baht extended gains against the US dollar, although foreign investors were... Read more
16 Aug 2019
New reports over the past one month may represent signals confirming that the Bank of Thailand (BOT) is in the process of carrying out two important matters to cope with hefty household debt. These include: 1) determining lending guidelines for low-income earners; and 2) preparation to set common le... Read more
The Baht weakened against the US dollar. The Baht fell along with regional currencies, while the US dollar rose after the US announced to delay imposing tariff on some Chinese imports to December 15. The Baht’s weakness was also in line with net foreign stock and bond selling orders, following sell... Read more
15 Aug 2019
Within one week after the Bank of Thailand announced a policy rate cut, major Thai commercial banks have followed suit by cutting lending rates for their general customers. These banks have slashed their minimum overdraft rate (MOR) and minimum retail rate (MRR) by 12.5-25 basis points, but are keep... Read more
9 Aug 2019
The Baht briefly fell after the FOMC meeting. The Baht rose early in the week, as the US dollar fell further on weak US Non-farm Payrolls data and concerns over the US-China trade tensions. The Baht extended its gains later in the week, although it fell briefly after the BOT’s MPC unexpectedly cut i... Read more
7 Aug 2019
Thailand’s Monetary Policy Committee (MPC) voted 5-2 to cut the benchmark rate for the first time in four years to 1.50 percent, from 1.75 percent, at its meeting, August 7, 2019. The MPC attributed its move to the weakening signs seen in the export sector and domestic demand, which have caused the ... Read more
5 Aug 2019
KResearch projects that the Monetary Policy Committee (MPC) will keep its policy rate steady at 1.75 percent at the fifth meeting of 2019 slated for August 7, 2019. It is expected that the MPC will attach importance to long-term stability at the upcoming meeting as it is experiencing more challenges... Read more
26 Jul 2019
The Baht weakened against the US dollar. The Baht fell early to mid week amid expectations that the Fed might not aggressively cut its policy rate in the near future. The Baht’s weakness was also in line with net foreign bond selling orders. Meanwhile, the US dollar rose on the budget deal between t... Read more
25 Jul 2019
Commercial loans and many types of retail loans grew at a slow pace while SME loans did not recovered in June. This caused June net loans overall to increase only THB10.7 billion or 0.09 percent MoM. When compared to the same period of last year, June net loans expanded at the sluggish pace in almos... Read more
19 Jul 2019
The Baht rebounded later in the week. The Baht weakened early to mid week, along with net foreign bond selling orders. The Baht later reversed those losses and rebounded amid the weak US dollar sentiment, led by disappointing US economic data, and NY Fed President’s remarks that reinforced expectati... Read more
18 Jul 2019
We at KResearch project that net profit overall of commercial banks registered in Thailand will reach approximately THB51-52 billion in 2Q19, declining from the THB52.59 billion reported for 1Q19. Operating profit in 2Q10 may recover at a slower pace because income growth from core business of comme... Read more
15 Jul 2019
The Bank of Thailand (BOT), on July 12, 2019, issued the measures to enhance short-term capital flow surveillance under the measures to prevent Thai Baht speculation formally announced after the central bank had earlier sent signal and expressed concerns over the rapid gains of Thai Baht which had s... Read more
12 Jul 2019
The Baht fluctuated and fell later in the week after the release of BOT’s new Baht measure. The Baht fell early in the week on the US dollar short-covering orders before the Fed Chairman’s testimony to the US Congress. The Baht, however, rebounded after the Fed Chairman’s comment was seen as a signa... Read more
5 Jul 2019
The Baht fell slightly after having hit a 6-year high of THB30.52/USD. The Baht rose on net foreign stock and bond buying orders, while the US dollar fell on weak economic data that reinforced expectations about the Fed policy rate cut. However, the Baht pared those gains later, while the US dollar ... Read more
28 Jun 2019
The Baht strengthened against the US dollar during the week. The Baht hit a new 6-year high of THB30.62/USD early in the week amid expectations that the Fed might cut its policy rate at its meeting in July. However, the Baht fell on position adjustment around mid-week before bouncing back after the ... Read more
25 Jun 2019
Bridge loans and working capital loans for corporate accelerated in May while retail loans in almost every category, especially auto loans as well as secured and unsecured personal loans, continued to increase. Hence, the net loans of 14 Thai commercial banks as of the end of May 2019 rose by almost... Read more
21 Jun 2019
The Baht hit a 6-year high against the US dollar. The Baht fell briefly early in the week, as investors covered their short US dollar positions ahead of the FOMC meeting. However, the Baht rebounded later and hit the strongest level in 6 years at THB30.79/USD after the Fed meeting. Although the Fed ... Read more
20 Jun 2019
KResearch expects Thailand’s Monetary Policy Committee (MPC) to keep the policy rates unchanged at 1.75 percent during its fourth meeting of 2019. The MPC is likely to weigh risk factors to financial stability in its monetary policy. In particular, household debts further accelerated in the first q... Read more
14 Jun 2019
The Baht hit a 3-1/2 month high of THB31.14/USD. The Baht rose along with net foreign stock and bond buying orders earlier in the week. In addition, the US dollar tumbled on an expectation that the Fed might cut its policy rate by the end of the year, and disappointing US economic data, including we... Read more
7 Jun 2019
The Baht hit the strongest level in over 3 months at THB31.28/USD. The Baht strengthened in line with net foreign stock and bond buying orders, while the US dollar fell on the Fed Chairman’s remarks that the Fed would act appropriately to sustain the US economic expansion, fuelling expectation of th... Read more
31 May 2019
The Baht strengthened, after having fallen earlier in the week. The Baht weakened along with other regional currencies that were pressured by concerns about the trade tension between the US and China. However, the Baht rebounded later in the week on net stock and bond buying orders of foreign invest... Read more
24 May 2019
The Baht rebounded later in the week, after having fallen to the THB32.00/USD level. The Baht fell early to mid week, along with the weaker Yuan and other regional currencies amid heightened trade tension between the US and China. However, the Baht pared losses somewhat and recovered later in the we... Read more
17 May 2019
The Baht weakened later in the week. The Baht fell briefly in line with weaker Yuan and other Asian currencies. The Baht later rebounded to a 2-1/2 month high of THB31.45/USD on net foreign bond buying orders, as market participants put focus on the US Treasury’s FX report. However, the Baht fell la... Read more
10 May 2019
The Baht tested the THB31.55/USD level, an over 1-month high, in late week. The Baht rose early in the week amid heightened tension between the US and China on their trade deal. In addition, there were short-covering orders, as Thai financial markets reopened after long holidays. The Baht weakened b... Read more
7 May 2019
In 2018, the number of ATMs and electronic devices used in the commercial banking system contracted 0.98 percent YoY, against the 5.17 percent growth reported for 2017, representing the first shrinkage in 35 years. Such a contraction was consistent with the substantial increase in the number of fina... Read more
3 May 2019
The Baht fell slightly, but still traded within a narrow range around THB32.00/USD. The Baht edged up early in the week, as the US dollar barely drew any support ahead of the FOMC meeting. The Baht weakened later in the week, as the US dollar rose after the Fed gave no signal to cut its policy rate ... Read more
30 Apr 2019
We at KResearch expect that the Bank of Thailand’s Monetary Policy Committee (MPC) will likely keep its policy rate intact at 1.75 percent during the third meeting of 2019 pending an assessment of Thai economic development and results of the implementation of macro-and micro-prudential monetary poli... Read more
26 Apr 2019
The Baht hit a near 4-month low of THB32.10/USD, before paring losses. The Baht fell in line with net foreign selling orders of Thai bonds and weak regional currencies. The US dollar rose on stronger-than-expected US economic data, and also extended gains against the Euro on the back of concerns abo... Read more
25 Apr 2019
The Baht weakened past THB32.00/USD, moving within a range of THB32.02-32.09/USD on April 25, 2019, representing the weakest level since the beginning of 2019 and declining by approximately 1.5 percent from that reported one month ago. The softening Thai currency was consistent with cautious stance ... Read more
Net loans in March 2019 expanded from the previous month but the increase fails to lift the overall loans in 1Q19 back to positive territory. Net loans declined by 0.11 percent compared to the outstanding loans at the end of 2018, attributable chiefly to a steady drop of corporate and SME loans of s... Read more
19 Apr 2019
The Baht fell to THB31.80/USD. The Baht weakened after the reopening of domestic financial markets following long public holidays. The Baht’s weakness was in line with net foreign stock and bond selling orders while the US dollar gained on stronger-than-expected US economic data, including a fall in... Read more
12 Apr 2019
The Bank of Thailand recently sent a warning about increasing risks associated with auto loans due to competitive tactics by some banks in collaboration with some auto companies and car dealers to approve loan amount beyond the collateral value. For example, they did not deduct the discount the cust... Read more
The Baht pared gains later in the week. The Baht rose early in the week on foreign investors’ net buying orders of Thai stocks, while the US dollar fell on a weak US Factory Orders data for February. Later, the Baht pared gains on net foreign bond selling orders, as well as weak regional currencies,... Read more
5 Apr 2019
The cancellation of funds transfer fee via digital channels was the main factor that continued to pressure operating results of Thai commercial banks during 1Q19. It is expected that their fees from other transactions, in particular insurance brokerage, management and advisory fees, may grow at a sl... Read more
The Baht fell later in the week. The Baht rose early in the week in alignment with the Yuan and other regional currencies amid stronger-than-expected Chinese PMI reported for March. However, the Baht’s upside gains were still limited as market participants awaited a clearer picture of domestic polit... Read more