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Prayuth Seeks To Expedite Measures To Tackle Household Debt Burden

THB

Spot USD/THB last changes hands at THB31.163, barely changed on the day. A break above Jun 4 high/50-DMA at THB31.275/31.277 would give bulls a green light for targeting May 18 high of THB31.510. Bears need losses past Jun 11 low of THB31.030, before taking aim at the 200-DMA, which kicks in at THB30.787.

  • The baht has been the worst performer in the Asia EM basket this year, losing almost 4% against the U.S. dollar thus far.
  • PM Prayuth said Tuesday that relevant state agencies, including the Bank of Thailand, have been ordered to put more effort into finding ways to address the rising household debt burden. Prayuth noted that "within six months, related agencies are required to reduce the interest rate of personal loans, microfinance and nanofinance small-scale debtors, teachers and cooperatives, as well as car and motorcycle leasing businesses" (as cited by the Bangkok Post).
  • As a reminder, the Bank of Thailand will provide their latest update on foreign reserves on Friday.

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