Thailand currency

Thailand Tax Agency to Finalize Digital Currency Tax Guidelines in January 2022

Digital currency investors in Thailand will soon have a well-defined tax policy starting this month, the country’s tax authorities have revealed. Thailand’s tax department said it was working on clear criteria for calculating withholding tax on profits from digital currency trading, which it expects to finalize before the end of January. Thai Prime Minister Prayut […]

Thailand currency

Visa to test digital currency services

Visa Inc has joined rival Mastercard Inc in offering central banks a way to test retail apps for digital currencies they might issue. The card payment provider would begin piloting a program this spring with ConsenSys Inc, a blockchain software company, after discussions with about 30 central banks on goals related to government-backed digital currencies, […]

Thailand currency

Implications of the New Thai Central Bank (CBDC) Digital Currency

The popularity of Bitcoin and other decentralized cryptocurrencies continues to send ripples through the financial world. Private companies like Meta (formerly Facebook) have already started developing their own competing cryptocurrencies, and central banking institutions are also working on similar concepts. The introduction of a CBDC (Central Bank Digital Currency) in Thailand is set to begin […]

Thailand economy

Minister of Finance: Thai economy will recover in 2023

The government intends to pour 1 trillion baht into the economy which, together with positive figures from growing trade and export sectors, are expected to fuel all of the economic expansion slated for 2022. 300 billion baht have l The government’s injection will come from investments by state-owned enterprises, while another 600 billion comes from […]

Thailand business

Thai c.bank authorizes interbank debt consolidation to help debtors

BANGKOK, Nov.22 (Reuters) – Thailand’s central bank has cleared debt consolidation at all financial institutions to help retail debtors pay lower interest rates, an official said on Monday, as policymakers are trying to mitigate the impact of coronavirus outbreaks. Debtors can combine their unsecured debt with home loans from different banks, rather than the same […]

Thailand business

Thai central bank clears interbank debt consolidation to help debtors

BANGKOK: Thailand’s central bank has cleared debt consolidation at all financial institutions to help retail debtors pay lower interest rates, an official said on Monday, as policymakers try to mitigate the impact of coronavirus outbreaks. Debtors can combine their unsecured debt with home loans from different banks, rather than the same lenders as before, Suwannee […]

Thailand economy

Thailand’s economy likely contracted in third quarter due to COVID-19 restrictions

After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast Asia’s second-largest economy shrank 0.8% in July-September from a year earlier, according to forecasts medians of 13 economists surveyed. On a quarterly basis, gross domestic product (GDP) likely contracted by 2.5% seasonally adjusted over the same period after […]

Thailand currency

PBOC and ECB exchange views on digital currency

Visitors view information on a booth promoting e-CNY at an exhibition in Beijing. [Photo by Chen Xiaogen/For China Daily] Central bank director says global monetary ties can help defuse risks The People’s Bank of China, the Central Bank and the European Central Bank have “regular technical exchanges” on aspects such as the design, applications and […]

Thailand economy

Thai economy likely contracted in third quarter due to COVID-19 restrictions – Reuters poll | Invest News

BENGALURU (Reuters) – Thailand’s economy likely returned to contraction in the last quarter, delaying a nascent recovery as strict restrictions to contain the spread of COVID-19 hit consumption and an already struggling tourism sector, said Reuters poll revealed. After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast […]

Thailand currency

Thailand’s biggest mall tests digital currency

Central Retail Corp, a leading retail company in Thailand, is testing a digital currency among its employees. Once the sandbox phase is over, the retail giant plans to expand service to customers and the general public, according to a report by Bloomberg. C-Coin, a blockchain-powered cryptocurrency, is offered to 80,000 Central Retail Corp employees around […]

Thailand economy

Thai baht continues to collapse as foreign investors leave Thailand

Krungthai Bank market strategist Poon Panichpibool yesterday reported that the Thai baht is likely to hover between 32.80 and 32.95 as foreign investment continues to leave the Kingdom. He said foreign investors decided to sell their assets in Thailand due to the uncertainty caused by the Covid-19 situation in the country. He too would lead […]

Thailand economy

Thailand’s economy hit hard by China-US trade war, strong baht and COVID-19

Thai exporters have been hit by the continued appreciation of the Thai baht. The currency’s strength was attributed to Thailand’s large current account surplus and foreign exchange reserves, supported by a strong economic base. BANGKOK – During a censorship debate targeting Prime Minister and Defense Minister General Prayut Chan-o-cha, Pheu Thai Party opposition MP for […]

Thailand economy

Coronavirus pandemic speeds up cashless transactions in Thailand

Thailand is emerging as a society that uses less cash as consumers use digital networks and devices, with money transfer stimulus programs and the pandemic accelerating cashless transactions with PromptPay as the he whole world economy is moving towards a cashless world. Registration on PromptPay, the money transfer platform initiated by the government as part […]

Thailand economy

The BoT announces that the Thai economy will shrink by 5.3% in 2020

Due to the coronavirus (COVID-19) epidemic, Thailand’s economy will contract significantly in 2020 and headline inflation will turn negative, the Bank of Thailand said in a press release. According to the latest data released by the Bank of Thailand, Thailand’s GDP could contract 5.3% in 2020, a sharp drop from its previous projections of 2.8% […]

Thailand economy

What does a rise in the baht mean for the Thai economy? – The diplomat

Advertising The Thai baht has been the best performing currency in Emerging Asia since 2018. Year over year, it has climbed more than 8% against the US dollar, and this year hit its highest level in six years. But according to headlines and comments, the hard currency has lowered the country’s competitiveness and worsened both […]

Thailand economy

Strength of Thai baht raises concerns over slowing Thai economy

A foreign exchange bank teller counting Thai baht banknotes in Bangkok, Thailand. Getty Images The Thai baht has soared against the US dollar this year, far more than many other emerging market currencies. This strength, however, is causing concern as the country’s domestic economy weakens, analysts said. Since the start of this year, the Thai […]

Thailand economy

Strong baht: currency that beats the world adds to challenges for Thailand’s economy in 2019

The baht has surged on Thailand’s $ 207 billion foreign exchange reserves, a current account surplus and a weak dollar triggered in part by the Federal Reserve’s recent conciliatory trend. An increase in the baht adds to the challenges facing Thailand’s trade-dependent economy this year. The baht’s rise of around 5% against the dollar over […]

Thailand currency

Thailand: currency manipulator? | Foreign Relations Council

The Trump administration appears to view currency manipulation primarily as an issue with China. But “money” is actually a much larger issue. Safer: Thailand Change rate Korea, Taiwan and Singapore all have larger current account surpluses, relative to their GDP, than China. All have intervened to limit the appreciation of their currency over the past […]

Thailand economy

The Problem with Thailand’s Economy – The Diplomat

Advertising When Thai coup plotters quickly disbursed over $ 3 billion owed to farmers from the deposed government’s politically crippled rice price subsidy program, it appeared that the country’s new military rulers had the will and the means to break the bureaucratic inertia which had blocked budgetary expenditure under successive elections. administrative. A year later, […]