Foreign reserves up by US$1.5 billion as of Nov 4

Thailand’s foreign reserves as of November 4 stood at US$181.6 billion (6.353 trillion baht), representing an increase of US$ 1.5 billion (53 billion baht) based on foreign exchange rate at 35.30 baht/dollar, according to the Bank of Thailand.

Foreign reserves a week earlier amounted to US$180.1 billion or 6.325 trillion baht.

Forward position stood at US$2.18 billion, representing an increase of US$300 compared to last week’s forward position, resulting in a net increase of foreign reserves to $203.4 billion � an increase of $1.2 billion compared to last week’s net foreign reserves increase of $ 2.022 billion.

Revolving cash of the private sector and commercial banks’ deposits with the Bank of Thailand stood at 1.65 trillion baht compared to last week’s 1.63 trillion baht, reflecting high liquidity in the economic system.

Monetary experts attributed the increase of foreign reserves to the increase in the value of assets which include gold and foreign currencies compounded with Thailand’s trade surplus and current account surplus for October.

However, baht remains weak like most currencies in the region after foreign funds have returned to the US as foreign investors predicted that the US economy will pick up under Donald Trump’s presidency with his policy to stimulate the US economy.

Source: Thai Public Broadcasting Service (Thai PBS)