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BoT: Exchange rate not a tool

107 Thailand has no intention of using the exchange rate as a tool to gain an unfair trade advantage and competitiveness over trading partners, says the Bank of Thailand. The central bank’s comments came following the issue of a US Treasury Department report that placed Thailand on the monitoring list of 10 countries labelled potential currency manipulators. The other nine countries on the list are China, Japan, South Korea, Germany, Italy, Singapore, Malaysia, Taiwan, and India. The US Treasury Department issued its report titled “Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States” on Dec 16. According to the report, Thailand has been put on the monitoring list for having a significant bilateral trade surplus with the US of over US$20 billion and a material current account surplus of more than 2% of GDP.

US asks India to limit forex intervention

US asks India to limit forex intervention US Treasury Department added India to the monitoring list countries which are branded as currency manipulators while Switzerland and Vietnam were named as currency manipulators. The US has asked India to allow the exchange rate to move to reflect economic fundamentals and limit foreign exchange intervention. US Treasury Department added India to the monitoring list countries which are branded as currency manipulators while Switzerland and Vietnam were named as currency manipulators. Over the four quarters through June 2020, four major US trading partners Vietnam, Switzerland, India, and Singapore intervened in the foreign exchange market in a sustained, asymmetric manner, the US Treasury Department said.

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