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Supattanapong Outlines Risks To Economy, Thailand Eases Rules On Overseas Arrivals

THB

Spot USD/THB trades +0.103 at THB32.355 amid a flare-up in Russia-Ukraine tension. Bulls need a clearance of Nov 18 low of THB32.565 and Jan 20 low of THB32.822, former breakout levels, to get some more reprieve. Bears need a fall through Feb 18 low of THB32.088 to see a resumption of the downtrend.

  • Dep PM Supattanapong said that the Thai economy faces risk factors including high inflation, rising energy prices, Covid-19 outbreaks and hefty household debt. He added that the escalating Russia crisis is fuelling inflation, which poses a short-term risk to Thailand's economic growth.
  • Worth noting that Thailand's national Covid-19 task force has agreed to ease entry requirements for overseas arrivals under the Test & Go scheme. The second PCR test will be replaced with a rapid antigen test, while mandatory health insurance coverage will be reduced.
  • Thailand's Customs Dept will release trade data by the end of this week. Consensus looks for a widening in headline trade deficit.

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