Thailand Avoids U.S. Currency Manipulation Watchlist

Asia Blockchain Review
June 8, 2019

Thailand has managed to avoid being placed on the U.S. monitoring list for currency manipulation, though the kingdom’s central bank, the Bank of Thailand (BOT), will keep apprised of future developments amid tightening criteria by the U.S. Treasury.

As reported by the Bangkok Post, BOT Governor Veerathai Santiprabhob said the nation cannot afford to be overly confident, noting that the central bank will continue to follow up on the situation.

No Countries Labeled As Manipulators

The U.S. Treasury Department recently issued its semi-annual foreign exchange report to Congress in which no country was labeled an outright currency manipulator, but nine were nevertheless placed on the watchlist due to having met some of the criteria.

The five new additions comprised Ireland, Italy, Vietnam, Singapore and Malaysia, joining China, Japan, South Korea and Germany. India and Switzerland had been removed from the list.

Criteria for Manipulator and Watchlist Status

In accordance with the amended criteria, nations with a current account surplus with the U.S. equivalent to 2% of gross domestic product (GDP) are placed on the watchlist, down from 3% previously. The other two criteria are persistent, one-sided intervention in the foreign exchange market with net purchases of at least 2% of GDP, and a trade surplus of at least US$20 billion with the United States.

Nations on the watchlist also face no penalties, but come under closer scrutiny for possible manipulation.

Although the label of currency manipulator does not carry with it any immediate penalty, it nevertheless has the potential to disrupt markets while opening the possibility of sanctions being imposed. Nations on the watchlist also face no

Source: www.bangkokpost.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Credits, Alibaba Cloud Launch Blockchain Solutions to Solve Logistics Issues
Alibaba Cloud and the Credits platform have collaborated to launch blockchain-based solutions for th...

December 13, 2019

Japanese Regulators Approve Lastroots Crypto Exchange
Two years after Japanese lawmakers legalized cryptocurrency as a means of payment, regulators have a...

December 13, 2019

Central Bank of Sri Lanka to Build Blockchain-Powered KYC System
The Central Bank of Sri Lanka has disclosed it is looking for a blockchain company to develop a know...

December 12, 2019

WWF & UnionBank to Develop Blockchain for Philippine Anglers
The World Wide Fund for Nature (WWF) Philippines and UnionBank are working together to develop a blo...

December 12, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us