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BoT Extends Debt Relief Measures For SMEs, Prawit Denies Snap Elex Speculation

THB

Spot USD/THB reopened lower today, tracking overnight losses in the DXY, and had a brief look under Jun 2 low of THB31.130. The rate last trades -0.045 right at THB31.130, with bears looking for a dip through May 10 low of THB31.048. Conversely, a move through Jun 4 high of THB31.275 would give bulls a green light for targeting May 18 high of THB31.510.

  • The BoT announced Thursday that commercial banks will be allowed to pay interim dividend for 1H2021 (albeit there are some strings attached) and extended debt relief measures for SMEs through the end of the year.
  • Thai Parliament approved the gov't's THB500bn borrowing plan to fund economic measures amid the Covid-19 outbreak.
  • Dep PM Prawit pushed back against suggestions that a snap election might be called, despite the gov't having more than a year of its current term left.
  • Thai Industry and Labour Ministries will discuss measures to prevent Covid-19 outbreaks in factories today.
  • The BoT will publish their weekly foreign reserves data today, while next week's docket features little beyond the BoT's next update.

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