News Forum - Thai baht and Singapore dollar battle for strongest regional currency

[Thaiger]

China is reopening its borders, pushing economists to predict that an influx of Chinese tourists to Thailand will propel the Thai baht into Southeast Asia’s reigning currency in 2023. But the baht has one regional competitor: the trusty Singapore dollar. Thailand’s economy heavily depends on tourism revnue. In 2019, Chinese tourists made up over 40% of the 40 million tourist arrivals in the kingdom. Beijing’s strict Covid-zero policy kept Chinese tourists away from Thailand for three years, devastating the Thai economy, but things are finally changing. If December inflation numbers reveal that the Consumer Price Index (CPI) is rising as […]

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[Soidog]

I love these stories that the Thai media promote. I wish the British central bank and the media was so positive. The British seem to think it’s their job to destroy the Pound. 
 

On the same day that this story was published in the Bangkok Post, there are at least five other stories warning of a turbulent year ahead, pressure on exports due to a declining global demand, rising power costs etc. 

Most likely just one persons hope on the bet he’s placed on the currency markets. 
 

If it was all so simple as the article suggests, we would all be multi-millionaires. 

[Ramanathan.P]

Hope there is no pandemic wave in Thailand after the Chinese Tourists waves.......

[Dom4Thai]

"The Malaysian ringgit is appreciating against the greenback this week thanks to the Fed’s relaxed interest hikes, but a dismal outlook for commodity prices leads economists to believe it will not be a leading Southeast Asian currency this year." 

Nothing to do with "the Fed's relaxed interest hikes,...", it's because Malaysia has a new Prime Minister in Anwar Ibrahim, the darling of Westeen investors and governments. Malaysia's ringgit had been depreciated greatly when Dr Mahathir refused to accede to IMF's request in the 90s to stop currency controls. When he stood down, his successor did allow the ringgit to float and appreciate, however, it was shortlived because of endemic corruptions, cronyism, and collaborated greed. The ringgit fell treacherously when former PM Najib Abdul Razak was said to be involved in the 1MDB scandal that involved Wall Street, Goldman Sach's senior executives being charged criminally. The upward ringgit appreciation also could be after both Najib and his wife were convicted on some other related corruprion charges. Najib is still undergoing trials in relation to the 1MDB corruption. So, what I am trying to say here is the appreciation of the ringgit has every thing to do with humanity and the rule of law. That's the investors' confidence