US Lists Thailand on Currency Watchlist

Prachachat•International•249d ago

Reader Briefing

The U.S. Treasury has placed Thailand on its 'Monitoring List' due to concerns over potential currency manipulation, alongside countries like China and Taiwan.

•Thailand has been added to the U.S. Treasury's 'Monitoring List' for countries potentially manipulating their currency.
•The decision was based on Thailand meeting two out of three criteria: a global current account surplus greater than 3% of GDP and a trade surplus with the U.S.
•The U.S. Treasury is increasing scrutiny of global foreign exchange practices, although no major trading partner was found to be manipulating its currency in the latest report.

Overview

•On January 29, the U.S. Treasury Department's currency report was released, listing Thailand on the 'Monitoring List' due to potential currency intervention.
•The U.S. Treasury Department added Thailand to its 'Monitoring List' for countries that may engage in currency manipulation or intervention.
•Thailand was added because it met two criteria: a global current account surplus exceeding 3% of GDP and a trade surplus with the U.S.
•Thailand is now on a list with 10 countries, including China, Japan, South Korea, and Taiwan, indicating increased U.S. focus on exchange rate practices.
•The U.S. Treasury stated it is increasing scrutiny of countries' foreign exchange practices, including interventions against both depreciation and appreciation.
•The U.S. Treasury explained that countries meeting two of the three key criteria (trade surplus with the U.S. of at least $15 billion, global current account surplus >3% of GDP, and persistent one-sided net foreign currency purchases >=2% of GDP) are automatically added to the list.
•The U.S. Treasury noted China's lack of transparency regarding exchange rate policies, but did not label it a currency manipulator, avoiding potential trade conflict.
•Countries on the monitoring list will be analyzed for broader government policies influencing foreign exchange markets, such as capital controls or state investment funds.

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Source: Prachachat (Original)

Key Quotes

U.S. Treasury Department

"The U.S. Treasury Department has added Thailand to the 'Monitoring List' for potential unilateral currency manipulation or intervention."

กระทรวงการคลังสหรัฐเพิ่มประเทศไทยเข้าไปใน “รายชื่อประเทศที่ต้องจับตาดู” อาจปั่นหรือแทรกแซงค่าเงินฝ่ายเดียว

U.S. Treasury Department

"The U.S. is increasing its scrutiny of countries' foreign exchange practices, according to the Treasury's currency report released on January 29 local time."

รายงานค่าเงินของกระทรวง ซึ่งเผยแพร่เมื่อ 29 มกราคม เวลาท้องถิ่นว่า สหรัฐกำลังเพิ่มการตรวจสอบอย่างเข้มงวดมากขึ้นเกี่ยวกับการปฏิบัติด้านอัตราแลกเปลี่ยนของประเทศต่างๆ

U.S. Treasury Department

"China 'stands out among our major trading partners for a lack of transparency regarding their exchange rate policies and practices.'"

จีน “โดดเด่นในบรรดาคู่ค้าสำคัญของเรา ในด้านการขาดความโปร่งใสเกี่ยวกับนโยบายและแนวปฏิบัติด้านอัตราแลกเปลี่ยน”

Key Entities

Place

United States(สหรัฐ)ℹ️

The country issuing the currency monitoring list and imposing economic scrutiny.

Thailand(ไทย)ℹ️

The country added to the U.S. 'Monitoring List' for potential currency manipulation.

China(จีน)ℹ️

A country listed on the U.S. 'Monitoring List', noted for lack of transparency in exchange rate policies.

Vietnam(เวียดนาม)ℹ️

A country previously on the U.S. 'Monitoring List' for currency practices.

Taiwan(ไต้หวัน)ℹ️

A territory listed on the U.S. 'Monitoring List' for potential currency manipulation.

Japan(ญี่ปุ่น)ℹ️

A country listed on the U.S. 'Monitoring List', with inquiries regarding its recent currency exchange rate.

South Korea(เกาหลีใต้)ℹ️