Thailand currency

Myanmar approves use of Thai currency in border trade

BANGKOK (AP) — Myanmar’s military-led administration has agreed to accept the Thai baht as the official currency in border trade transactions and is planning a similar arrangement for the use of the Indian rupee, seeking to limit reliance of the country against the US dollar in trade. The State Administrative Council said on Tuesday that […]

Thailand currency

BSP plans pilot digital currency

The Bangko Sentral ng Pilipinas (BSP) plans to launch a pilot central bank digital currency (CBDC) soon, its chief has said. “As a next step, the BSP aims to deploy in the short term a pilot implementation of the CBDC which we call the CBDCPh project,” Bangko Sentral Governor Benjamin Diokno was quoted in a […]

Thailand currency

Myanmar government allows payment in local currency at Thailand-Myanmar border as Ministry of Health reports 1,819 new Covid-19 cases

YANGON, March 4 (Xinhua): Myanmar has allowed direct payment in Thai baht or Myanmar kyat for trade at the Thailand-Myanmar border, according to a statement released by Myanmar’s Central Bank on Friday. The statement said that direct payment in baht or kyat will be allowed at the Thailand-Myanmar border to boost bilateral trade, facilitate the […]

Thailand currency

Bitcoin overtakes fixed ruble as more valuable currency as Russian sanctions bite

Bitcoin’s total market value has surpassed that of the plummeting Russian ruble as speculation grows that the digital coin and other cryptocurrencies could help Moscow cushion the blow of international sanctions. Russia’s invasion of Ukraine triggered a series of economic sanctions from governments around the world, sending the Russian currency plunging to record lows and […]

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Review of the Chinese central bank’s digital currency: the e-CNY

Econography March 1, 2022 Review of the Chinese central bank’s digital currency: the e-CNY By Ananya Kumar All eyes were on China’s central bank digital currency, e-CNY, during the Beijing Winter Olympics. The e-CNY pilot operated in ten regions of China before being introduced at the Beijing and Zhangjiakou Olympics venues in February 2022. As […]

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Explained: Why the central bank’s digital currency troubles have lessons for India and others

Some of the world’s first digital currency experiments are running into hurdles and could serve as lessons for the Reserve Bank of India, which plans to launch his central bank digital currency (CBDC) next fiscal year. Recently, a digital currency used by seven Caribbean countries experienced issues that kept it offline for more than a […]

Thailand currency

BI targets local currency settlements to reach $2.78 billion in 2022

Jakarta. Bank Indonesia, the country’s central bank, is optimistic that the value of trade and investment transactions settled in local currency will increase by 10% this year, adding a layer of protection against future global shocks. Bank Indonesia Governor Perry Warjiyo said on Wednesday that the value of local currency settlement transactions had increased over […]

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A Snapshot of the Nigerian Central Bank’s Digital Currency1 – Technology

To print this article, all you need to do is be registered or log in to Mondaq.com. introduction In the recent past, the world has witnessed an influx of technological advancements, especially in the financial sector, leading to the development of new forms of money, including central bank digital currency (“CBDC”). A CBDC is an […]

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China aims for Olympic gold with its digital currency

Among the many benefits China planned to host the 2022 Winter Olympics, one of the biggest and most subtle was the boost it would give its digital currency. The Games would show China’s mastery of financial innovation, accelerate the move towards a cashless society and, at their most ambitious, undermine the position of the US […]

Thailand currency

China’s digital currency rollout could be a model for the West

This month, during the Beijing Winter Olympics, China is set to showcase its digital yuan to the world, becoming the first major global economy to roll out a central bank digital currency (CBDC). From Feb. 4, foreign nationals will be able to convert foreign currency into digital yuan, according to reports, and will receive a […]

Thailand currency

3 Thai regulators team up to issue digital currency payment guidelines

Three Thai regulators have teamed up to offer more clarity on the use of digital currencies for payments in the country. Led by the Bank of Thailand, government agencies said digital currencies are too volatile and prone to cyber theft to be used as payment methods and pose a risk to the country’s financial system. […]

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10% of the world’s population owns some form of cryptocurrency, with Thailand leading the way

Global adoption of cryptocurrency has taken off in recent months as the sector continues to record an increase in valuation and popularity. However, global crypto ownership remains relatively low but continues to pick up, led by specific regions. According to data acquired by Finbold, approximately 10.2% of the global Internet-using population owns some form of […]

Thailand currency

Why is the dollar likely to lose its status as a global currency?

The dollar will lose its status as the world’s reserve currency, say experts from one of the largest investment banks JP Morgan Chase, and it will happen very soon. Why are the world’s major financial institutions ready to sign a verdict on the dollar? Global central banks are driving US currency out of reserves, and […]

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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, […]

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Switzerland tests digital currency payments with top investment banks

A general view of the Swiss National Bank (SNB) building in Zurich, Switzerland December 16, 2021. REUTERS/Arnd Wiegmann Join now for FREE unlimited access to Reuters.com Register ZURICH, Jan 13 (Reuters) – The Swiss central bank has successfully used digital currency to settle transactions involving five commercial banks, the Swiss National Bank said on Thursday, […]

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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 currency

The next wave: Africa’s single currency could be digital

November 29, 2021The Next Wave offers a futuristic analysis of BizTech and innovation in Africa. Subscribe here to get it delivered straight to your inbox on Sunday at 3pm (WAT). Good year. January is going to be a very long month, or a very normal month, depending on how much money you saved with Detty […]

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CBSL issues clarification to clear up confusion over forced foreign currency conversion

Central Bank statement Recent rules issued by the Central Bank of Sri Lanka (CBSL) regarding the repatriation and conversion of export earnings into Sri Lankan Rupees (LKR) have been misinterpreted by some parties with special interests. In particular, unfounded speculation has been maliciously spread that CBSL rules require the forced conversion of all workers’ remittances […]

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Bahrain Central Bank oversees JPM Coin digital currency testing – Ledger Insights

Wednesday, the Bahrain Central Bank announced that an essay by JP Morgan JPM part digital currency system had been successfully completed. First announced in May, the tests involved commercial bank ABC and its customer Aluminum Bahrain (ALBA). ALBA used the corporate blockchain system for real-time US dollar payments with US counterparties who are also JP […]

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BSP and Bank of Japan renew currency swap agreement GMA News Online

The Philippines and Japan renewed their currency swap agreement, which took effect on the first day of 2022. In a statement, the Bangko Sentral ng Pilipinas (BSP) said it has signed the third Bilateral Exchange Agreement (BSA) amendment and reformulation agreement with the Bank of Japan, acting as the minister’s agent of Finance of Japan. […]

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Peso goes from best currency in emerging Asia to worst currency in a week

(Bloomberg) – The Philippine peso became the worst performing currency in Emerging Asia in December, after being the best, as the seasonal increase in remittances dried up. Strategists see the bearish momentum continuing. Bloomberg’s Most Read The currency fell around 2% last week, wiping out any gains from the first three weeks of December that […]

Thailand currency

Monetary values ​​in terms of Special Drawing Rights – Markets

WASHINGTON: The International Monetary Fund (IMF), the Treasury Department’s monetary values ​​in terms of Special Drawing Rights (SDRs). ====================================================================================== December 31, 2021 ====================================================================================== Currency units per SDR SDR per Currency unit ====================================================================================== Currency 23-Dec-21 22-Dec-21 21-Dec-21 20-Dec-21 ====================================================================================== Chinese yuan 0.112158 0.112259 0.112359 0.112324 Euro 0.808092 0.80857 0.808617 0.807641 Japanese yen 0.006256 0.006267 0.006299 0.0063072 […]

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The current state of development of central bank digital currency (CBDC) around the world

In the first week of November 2021, the Bank of England and the UK Department of Finance announced their intention to conduct a “formal consultation” on the creation of a central bank digital currency or CBDC. If the consultation is successful, Britons can look forward to the creation of a blockchain-based digital currency that will […]

Thailand currency

Monetary values ​​in terms of Special Drawing Rights – Markets

WASHINGTON: The International Monetary Fund (IMF), the Treasury Department’s monetary values ​​in terms of Special Drawing Rights (SDRs). ====================================================================================== December 24, 2021 ====================================================================================== Currency units per SDR SDR per Currency unit ====================================================================================== Currency 23-Dec-21 22-Dec-21 21-Dec-21 20-Dec-21 ====================================================================================== Chinese yuan 0.112158 0.112259 0.112359 0.112324 Euro 0.808092 0.80857 0.808617 0.807641 Japanese yen 0.006256 0.006267 0.006299 0.0063072 […]

Thailand currency

Thai central bank to test digital retail currency later than expected

BANGKOK (Reuters) – Thailand’s central bank said on Friday it plans to test its retail central bank digital currency (CBDC) for the public in late 2022, later than expected, as an alternative payment option. The pilot project, previously scheduled for the second quarter of 2022, will assess the use of the CBDC in cash-like activities […]

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What are the currency effects?

A weekend of bad news drove the markets down sharply at Monday’s opening. The Netherlands has imposed a strict lockdown and many other countries are considering further restrictions. The euro has again shown relative strength, but is far from completely reversing as the EURUSD remains in a consolidation pattern. Monday’s session starts lower with strong […]

Thailand currency

Monetary values ​​in terms of Special Drawing Rights – Markets

WASHINGTON: The International Monetary Fund (IMF), the Treasury Department’s monetary values ​​in terms of Special Drawing Rights (SDRs). ====================================================================================== December 17, 2021 ====================================================================================== Currency units per SDR SDR per Currency unit ====================================================================================== Currency 16-Dec-21 15-Dec-21 14-Dec-21 13-Dec-21 ====================================================================================== Chinese yuan 0.112367 0.112503 0.112362 0.112499 Euro 0.810985 0.806423 0.808549 0.807353 Japanese yen 0.006268 0.006293 0.006291 0.006304 […]

Thailand currency

GT exclusive: Myanmar accepts yuan as official currency of settlement for border trade with China

The port of Ruili in Yunnan province (southwest China) connects the country to Myanmar. Photo: IC Use of the yuan in Myanmar Myanmar has accepted the Chinese yuan as the official settlement currency for border trade with China, in an effort to alleviate its shortage of US dollars and other foreign currencies, while the Southeast […]

Thailand economy

Thai economy will return to pre-pandemic level in 2023, central bank governor says

BANGKOK, Dec 12 (Reuters): Thailand’s economy is expected to return to pre-pandemic levels in the first quarter of 2023 and its recovery will be slower than in some other countries in the region, the central bank governor said at a briefing. a business forum recently this week. . “Recovery will be slow and uneven…because Covid-19 […]

Thailand currency

Monetary values ​​in terms of Special Drawing Rights – Markets

WASHINGTON: The International Monetary Fund (IMF), the Treasury Department’s monetary values ​​in terms of Special Drawing Rights (SDRs). ====================================================================================== December 10, 2021 ====================================================================================== Currency units per SDR SDR per Currency unit ====================================================================================== Currency 9-Dec-21 8-Dec-21 7-Dec-21 6-Dec-21 ====================================================================================== Chinese yuan 0.112778 0.112614 0.112476 0.11225 Euro 0.8092 0.808706 0.806172 0.807376 Japanese yen 0.006289 0.006307 0.006299 0.006327 […]

Thailand currency

Monetary values ​​in terms of Special Drawing Rights – Markets

WASHINGTON: The International Monetary Fund (IMF), the Treasury Department’s monetary values ​​in terms of Special Drawing Rights (SDRs). ====================================================================================== December 10, 2021 ====================================================================================== Currency units per SDR SDR per Currency unit ====================================================================================== Currency 9-Dec-21 8-Dec-21 7-Dec-21 6-Dec-21 ====================================================================================== Chinese yuan 0.112778 0.112614 0.112476 0.11225 Euro 0.8092 0.808706 0.806172 0.807376 Japanese yen 0.006289 0.006307 0.006299 0.006327 […]

Thailand currency

Switzerland is no longer seen as a currency manipulator

According to the latest US Treasury Department report released this week, Switzerland is no longer defined as a currency manipulator, a status it has held for some time. © Diego Grandi | Dreamstime.com To be classified as a currency manipulator by the US Treasury, a nation must meet three criteria. It must have a bilateral […]

Thailand currency

France, Switzerland run multicurrency wholesale CBDC trial – Ledger Insights

Today, the BIS Innovation Hub shared the results of Jura project, the wholesale central bank digital currency project (wCBDC) which involved both the Banque de France and the Swiss National Bank. Other participants included SIX Digital Exchange (SDX), Natixis, UBS, Credit Suisse, Accenture and R3. The experiment aimed to enable instant settlement of foreign currency […]

Thailand currency

Vietnam, Taiwan exceed US Treasury currency thresholds, Thailand on watch list

Vietnam, Taiwan exceed US Treasury currency thresholds, Thailand on watch list Thailand is still one of 12 countries on the US Treasury Department’s “Watch List” of major trading partners that deserve special attention in their monetary practices. (photo from Bangkok post) Vietnam and Taiwan again crossed U.S. Treasury thresholds for possible currency manipulation and improved […]

Thailand currency

Bank of Indonesia wants digital currency to benefit real economy

The Bank of Indonesia is exploring central bank digital currency (CBDC) as legal tender because it wants digital currency to benefit the real sector of the economy and not just become a financial asset for the benefit of the few. Cryptocurrency investments in Indonesia topped IDR 478 billion ($ 33 ​​billion) in the first seven […]

Thailand currency

Monetary values ​​in terms of Special Drawing Rights – Markets

WASHINGTON: The International Monetary Fund (IMF), the Treasury Department’s monetary values ​​in terms of Special Drawing Rights (SDRs). ====================================================================================== November 26, 2021 ====================================================================================== Currency units per SDR SDR per Currency unit ====================================================================================== Currency 24-Nov-21 23-Nov-21 22-Nov-21 19-Nov-21 ====================================================================================== Chinese yuan 0.112292 0.112311 0.112096 0.112013 Euro 0.80393 0.807234 0.806924 0.805926 Japanese yen 0.006228 0.0062712 0.0062542 – […]

Thailand currency

No bank charges, please: the central bank’s digital currency will make payments like emails

Cross-border payments are inefficient, often slow, opaque and expensive. Businesses around the world made $ 23.5 trillion in cross-border transactions in 2020, equivalent to 25% of global GDP. Companies also paid bank charges of $ 120 billion (excluding currency conversion fees), which is equivalent to one-third of Singapore’s GDP, according to a recent analysis by […]

Thailand business

BoT unveils new debt consolidation measures

The Bank of Thailand (BoT) has trumpeted its success in helping pandemic-hit borrowers consolidate their debt, with its latest move aimed at further easing their repayment burdens. The BoT will now help individuals consolidate their mortgage and personal loan debts held with different lenders into one institution via refinancing. Previously, the central bank only allowed […]

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 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 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 economy

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

A view of Bangkok Harbor along the Chao Phraya River is photographed at sunset in Bangkok, Thailand on June 2, 2021. REUTERS / Athit Perawongmetha / File Photo Register now for FREE and unlimited access to Reuters.com Register Thailand’s GDP contracts 0.8% yoy in Q3 vs. + 7.5% in Q2 Q3 GDP seen at -2.5% […]

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 currency

Authorities toughen rules to limit foreign currency outflows

In light of dwindling foreign exchange reserves, falling remittances and rising imports, the government has started to tighten rules to limit the outflow of foreign currency. The Immigration Department has reduces the minimum exchange rate The amount that Nepalese citizens traveling abroad must take with them ranges from $ 500 to $ 1,000. But the […]

Thailand business

BoT adds guidelines for debt consolidation

BoT adds guidelines for debt consolidation Move aims to reduce interest burden The Bank of Thailand (BoT) plans to implement additional guidelines for the debt consolidation program to help retail borrowers reduce interest rate charges. The BoT has prepared additional debt relief options to help borrowers ease their debt burden amid the latest protracted Covid-19 […]

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

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 Thai economy suffers the biggest economic recession since 1997

The Thai economy has suffered its biggest annual economic contraction since the Asian financial crisis of 1997 due to the fallout from the coronavirus. Encourage the government to reduce its GDP forecasts for 2020 and announce more stimulus measures. Data from the state planning agency showed that a 100% drop in foreign tourism dealt the […]

Thailand economy

Thai economy czar hit by party revolt at pandemic turn

BANGKOK – The Thai coalition government was rocked by an internal revolt within the pro-military Palang Pracharath party, the largest in the 19-party alliance, with political daggers targeting a technocratic and economic faction that was to open the way out of the coronavirus crisis. The upheaval was sparked this week after the abrupt resignation of […]

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

Thai economy grows slower than expected in third quarter of 2019

BANGKOK (BLOOMBERG) – Thailand’s economy grew slower than expected in the third quarter and the government lowered its growth forecast for the full year as the country grapples with the impact of the US trade war -Chinese and a strong currency. Gross domestic product rose 2.4% from a year ago, the National Council for Economic […]

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

Can Prayutnomics help the Thai economy? – The diplomat

Advertising As the controversial newly elected Thai government takes shape, one of the main areas that junta leader-turned-civilian Prime Minister Prayut Chan-o-cha will face is managing the economy, which has been of particular concern. for Southeast Asian State in recent years. These are not good times for Thailand’s economy. Lightly, a Bangkok Post An August […]

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 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, […]

Thailand economy

Thai economy sees signs of recovery in Q2

BANGKOK (Reuters) – Thailand’s central bank announced yesterday that Southeast Asia’s second-largest economy would avoid recession this quarter and said manufacturing and consumption “started to show signs of recovery” in May.The Bank of Thailand (BOT) issued its positive assessment while releasing a data set showing the economy, battered by months of political tensions, continued to […]