The historic news of the UK’s referendum decision to LEAVE the EU means that the Baht is 48 to 1 pound sterling currently although the currency and markets look to be rebounding already from the shock result.
The future is surely in a GU or Global Union rather than all these seperate trade deals around the world.
Whatever your views on ‘Brexit’ we can take pride in the fact that the UK population has not let itself be bullied by big business and people in a democracy can still really make a difference.
Dave Cameron announced that he will be stepping down in October.
The margin was 52%-48% in favour of leave with over a million votes majority.
We still don’t know the long term effects on the currency for those worried about the sterling/baht exchange rate. The expected weakening of the Thai Baht reported last week may counteract any initial shock on the currency this year.
Forecasts from K Bank point to the baht weakening against the U.S Dollar by the end of the year. Looming interest rate hikes in the United States and the potential of the U.K leaving the European Union are to blame.
The bank’s capital market research department asserts that the baht will weaken in the second half of the year as global uncertainties push the currency downward.
A brief but colourful round up this week, look out for new features coming soon.
Rice Exports Up 11 % First Half 2016
Malaria Drug Resistance on Thai-Myanmar Border
Aung San Suu Kyi to Discuss Workers Rights on Thai Vist
Robbing Ladyboys Back On Pattaya Streets (Unsurprisingly)
As reported by BT earlier this year – Thai Tourism Grows 12%
This week’s Video: