Thailand news today | The Thai baht plunges to 38 against the USD for the first time in 16 years
The fugitive Thai baht has depreciated to 38 versus that U.S. dollar even faster than economists predicted. The last time the baht hit 38 to the dollar was 16 years and two months ago, on July 26, 2006.
The devaluation of the baht is attributed to the increasing strength of the US dollar. The dollar index has risen to 114, causing several currencies around the world to depreciate. The US dollar continues to appreciate on continued increases in federal funds.
Pressured by high inflation rates and a depreciating baht, Thailand’s Monetary Policy Committee will meet today to discuss raising interest rates to 1% from 0.75%. The interest rate hike will increase interest rates between Thailand and the US with the aim of temporarily strengthening the baht and “supporting the economic recovery”.
Though Thailand’s flagging baht may have a silver lining for the tourism industry. The president of the Thai Hotels Association (THA) says the flagging baht is one of several factors making Thai tourism more attractive in the post-pandemic era.
THA President Marissa Nunbhakdi says now that the Test & Go and Thailand Pass programs have been scrapped, momentum has been built for the borders to reopen. She said the weak baht could help the tourism industry as tourists now have more money to spend in Thailand.
However, Marissa noted that she’s not sure the weak baht will help offset high transportation costs. She said the rise in airfares has impacted the number of foreign tourists flying to the kingdom. Marissa said that this market has remained lower than expected for the past several months.
According to the Thai government, more than five million foreign tourists arrived in the “Land of Smiles” between January 1st and September 8th. The total number of foreign visitors was 5,018,172, spokesman Thanakorn Wangboongkongchana said.
The Tourism Authority of Thailand estimates that the number of tourists will reach 10 million based on advanced flights and hotel bookings for the next three months.
Hibiocy announced the release of their Anti-Covid nasal sprayis scheduled to hit shelves on October 1st. The spray is a domestic invention, occurred in Thailand by medical researchers at Chulalongkorn University School of Medicine. The design prevents Covid from entering the body through the nose.
The company that makes it is a subsidiary of Rojukiss International, and its CEO announced yesterday that the nasal spray will be available in stores from Saturday. Like most Covid drugs, the creators called it something catchy. The spray is sold under the brand name “VAILL CITITRAP Anti-Cov Nasal Spray”.
In Thailand, a team of doctors and researchers at the university have developed the nasal spray for home use. Hopefully the spray can be a preventive safety against coronavirus infections. We’ll see if it gives people the confidence to take off their masks.
The nasal spray works by coating the inside of your nose and preventing the Covid virus from being absorbed into the body through the nasal cavity. Dosing the spray every six hours or three times a day should protect users from the virus.
The director of the Health System Research Institute hailed the Thai creation as innovative. Hibiocy has now also registered patent rights for the nasal spray. It is now ready for commercial distribution and sale.
Thailand extends the legal limit of cancellation from 12 to 20 weeks. The new law will come into effect 30 days after it was announced by the Ministry of Health Royal Scoreboardwhich was released yesterday, September 26th.
The new law provides that pregnant women in Thailand can legally terminate a pregnancy up to 20 weeks old, as long as they consult a doctor first. The doctor will provide the woman with all the information to help her make her own decision before legally authorizing the abortion.
In January last year, the Thai parliament voted to legalize abortion for the first trimester (up to 12 weeks). However, criminal penalties remained in place for women who terminated pregnancies longer than 12 weeks and did not meet criteria set by the country’s Medical Council.
Similarly, any person or clinic found to be performing abortions after the 12-week limit would face fines and jail time.
The penal sanctions remain in place for abortions longer than 20 weeks.
police and residents in Chiang Mai pushed in American Man stopped driving his yellow go-kart on a public road after pointing out the danger he posed to himself and others.
A dashcam video of the yellow single-seater go-kart was uploaded to Thai social media on September 21. The kart races in the left lane of Klong Chonlapratarn Road or Canal Road in Chiang Mai’s Hang Dong district.
Most local residents agree that the kart is too small, too low and not easy for other vehicles to see on the road.
The kart is owned by an American who lives in the area. It has no motor and is operated like a bicycle. The rider has to climb in, sit back and pedal to get it moving.
The yellow kart was involved in a pickup truck accident on Mahidon Road in Chaing Mai in 2018. No injuries or casualties were reported from the accident, but local residents don’t want him using the kart again.
Hang Dong Police Station acknowledged that Chiang Mai locals have reported the man multiple times because of the danger he poses to everyone.
Police said the foreigner stopped using the kart after being warned but would then use it again.
The alien said…
“My car does not violate any Thai laws. It has no motor.”
However, the police emphasized that the cart was illegal under the Land Traffic Code because it could endanger other road users. The police added that they would again warn the foreigner about the kart.
According to Section 6 of the Land Traffic Act, people are not allowed to use vehicles that are in an unstable condition or vehicles that could cause danger or affect the lives of others. Anyone not following the law will be fined up to 500 baht.
Annual organizers Naga Fireball Festival hope that the gala will once again capture the imagination of all visitors after a few barren years of the Covid-19 pandemic.
The festival returns to Isaan’s Nong Khai province on October 10, and organizers predict a bonanza event that will help boost the province’s economy by up to 80%.
Nongkhai Chamber of Commerce President Sasritphon Wichitwong promises the best Naga Fireball Festival yet and believes it will capture the imagination of residents and tourists alike.
The festival takes place at the end of Buddhist Lent on October 10.
The Naga Fireball Festival, or Bang Fai Phaya Nak in Thai, celebrates the mythical Phaya Nak, a giant snake believed to live in the Mekon.
Crowds gather and sit along the 250-kilometer bank of the Mekhon in Nong Khai and Bueng Kan provinces to watch the fireballs rise from the river at night. The glowing spheres of different sizes rise in the air to about 150 meters and then disappear.
Locals believe the fireballs are released by the giant snake that lives in the Mekong. It’s like the local version of Santa Claus.
Aside from watching the fireballs rise, the festival features merit ceremonies, artistic performances, boating competitions, Thai boxing, and a pedestrian mall full of street food shops.