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Baht Depreciates Due to Political Factors: Money Manager’s Outlook and Market Analysis

A money manager from Bank of Ayudhya revealed that the baht closed this evening at 34.61 baht / dollar, a slight depreciation from The market opened this morning at 34.60 baht/dollar due to political factors in the country where the market is still waiting for clarity on the vote. choose the prime minister by moving against the region’s appreciation of the yuan During the day, the baht moved within the range of 34.53 – 34.69 baht/dollar.

“The baht moved against regional currencies, which appreciated along with the yuan. From political factors that are not clear about voting for the prime minister, “said the money manager.

money manager Estimates the movement of the baht on Monday at 34.55-34.75 baht / dollar.

Important Factors The yen was at 138.43 yen/dollar, from 138.00 yen/dollar this morning, the euro at 1.1231 dollars/euro, from 1.1215 this morning/euro. The SET Index closed today at 1,517.92 points, up 23.90 points. +1.60% Trading value 43,640.01 million baht Summary of trading volume by group Foreigners net buy 1,770.64 million baht (SET+MAI) Spokesman of the Bank of Thailand (BOT) reveals that the current political situation is still highly uncertain. Difficult to assess because

I don’t know when I will get a Prime Minister and form a government. The delay will affect the disbursement of the government budget for the year 2024 in

part of the disbursement of investment budget for large projects Including the inability to create new investment projects.

Permanent Secretary of the Ministry of Finance Revealing the case if the annual expenditure budget for 2024 is expected to be delayed by about 6 months.

because there is no new government The Ministry of Finance has a plan in place. Sufficient amount of money has been prepared to support business continuity.

economy

The chairman of the board of the Thai Chamber of Commerce and the Board of Trade of Thailand believes that yesterday’s vote for the prime minister was

The democratic process that the parliament has tried to go forward with its best, which Mr. Pita Limcharoenrat Candidate Prime Minister not yet

able to pass the vote the first time Which still has a 2-3 vote as it was originally scheduled to come out on July 19 and 20, 2023 after

From now on, all 8 coalition parties would go back to understand and negotiate to find a new common way again. and must continue to monitor the situation

close up

The International Monetary Fund (IMF) says China’s economy is slowing down. due to weak private investment

down while exports slowed down. and domestic demand declines After the Chinese economy made a strong performance in the first quarter after

The Chinese government announced the abolition of the zero COVID policy and opened up the country.

A senior official at the People’s Bank of China (PBOC) said the bank will use various policy tools such as protection ratios.

commercial bank reserves (RRR) and medium-term loan (MLF) programs to tackle the challenges facing China.

G7 finance ministers are scheduled to hold talks on July 16 on the sidelines of the G20 meeting in India to discuss

support ukraine Multilateral Development Bank (MDB) Reform and International Taxation

2023-07-14 10:49:44
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