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Thread: Usd / thb

  1. #1
    ub2me
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    Usd / thb

    A bit of relaxation of the USD/THB FX rate, at least for the moment ....


    http://www.bloomberg.com/news/2011-0...k-selling.html

    Thailand’s interest-rate swaps rose to the highest level since 2009 on speculation the central bank will boost borrowing costs to curb accelerating inflation.

    The Bank of Thailand raised the one-day bond-repurchase rate by a quarter point to 2.25 percent on Jan. 12 and signaled further increases, citing inflationary pressures. Consumer prices rose 3.03 percent in January from a year earlier, the most in five months, according to official data released on Feb. 1. The baht declined for a second day after global funds sold $191 million more local equities than they bought this week through yesterday.

    “Thailand will continue to raise rates, and the swap markets are pricing in potential gains in the short-term policy rate,” said Hideki Hayashi, a global economist at Mizuho Securities Co. in Tokyo. “Close attention will be paid to the inflation data.”

    The one-year onshore swap, the fixed cost needed to receive a floating payment, rose two basis points to 2.115 percent as of 3:34 p.m. in Bangkok. It reached 2.135 percent, the highest level since June 2009.

    Benchmark borrowing costs will climb to 2.75 percent by the end of June, according to the median forecast of 15 economists surveyed by Bloomberg. Policy makers meet next on March 9.

    The yield on the 3.125 percent bond December 2015 was unchanged at 3.55 percent after rising for four straight days through yesterday. A basis point is 0.01 percentage point.

    The baht slid 0.1 percent to 30.75 per dollar also on concern China’s interest-rate increase this week will reduce demand for Thai goods in the nation’s biggest export market. Asia’s largest economy bought 12 percent of Thai shipments in December, official data show.

    “There is some concern on the export outlook from China’s tightening, weighing on the regional currencies,” Mizuho’s Hayashi said.

    To contact the reporter on this story: Yumi Teso in Bangkok at yteso1@bloomberg.net

    To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

  2. #2
    Organic AI Quarky's Avatar
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    I think you should start a thread here Rob...
    Last edited by Quarky; 14th February 2011 at 05:52.

  3. #3
    The artist formally known as Wabbits Thai Dreamer ผู้เพ้อฝัน wabbits's Avatar
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    31 bt for a Oz dollar so this will help the sponsors.

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