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The Bank of Thailand is in talks with the People's Bank of China on encouraging businesses to settle bilateral trade in yuan and baht. The aim is to reduce foreign exchange risk amid dollar volatility.
The central banks plan to meet next month, building on their 2021 renewed currency swap arrangement.
Wider yuan-baht settlement would reduce Thai importers' dollar exposure on Chinese trade, a modest change for feed and commodity buyers' currency hedging costs. The direct effect on grain or feed prices is limited.
bangkokpost.comSomruedi BanchongduangApr 27, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
