泰铢快速升值已削弱了泰国出口和旅游业的竞争力。Ratanakorn表示，尽管在今年下半年进行了大规模 干预，但只能缓解波动。希望减少波动性，不希望泰铢升值到损害出口商和经济的程度。央行没有设定 具体的泰铢价值目标，且由于国际协议无法操纵汇率。 泰国央行还宣布了一项贷款担保计划，预计在未来一至两年内将推动新增信贷1000亿泰铢。该计划将于 2026年1月启动，将为符合条件的中小企业提供最高1亿泰铢的贷款担保。 Ratanakorn并称，在关键利率降至三年低点后，如有必要可能进一步放松货币政策，但降低利率并不能 解决结构性问题。 新华财经北京12月26日电（王姝睿）在黄金交易激增推动泰铢飙升后，泰国央行行长Ratanakorn周五表 示，央行已采取积极行动以缓解泰铢的波动性。 今年以来，泰铢兑美元已升值10.3%，目前交投于31关口附近，为逾四年来的最高水平。交易商在海外 市场以美元出售黄金后，会将美元兑换成泰铢，这构成了推动泰铢走强的关键资金流。Ratanakorn此前 表示，泰铢升值是由"巨大"的黄金交易量驱动，与基本面不符。 美元走弱、资本流入以及泰国高于预期的经常账户盈余也助推了泰铢的涨势。泰铢的强势加剧 ...

泰国财政部常务秘书Lavaron Sangsnit周二在紧急召开的新闻发布会上表示，财政部正在研究对线上黄 金交易征收营业税，泰国央行也在研究对黄金交易实施交易限制。 泰铢兑美元汇率一度上涨0.3%至31.089，连续第五天上涨，创下四年新高。此后，泰国财政部召开了新 闻发布会。泰铢上涨可能会削弱泰国的出口竞争力，从而加剧经济增长面临的阻力。 三个多月以来，泰国当局一直关注着黄金交易对泰铢的影响。9月份，泰国央行会见了泰国黄金交易商 协会的代表，并敦促他们密切监测黄金交易。 推荐阅读：泰国据悉考虑对实物黄金交易征税 以减缓泰铢升值步伐 Vitai表示，与黄金交易相关的外汇流动加大了泰铢升值压力。泰国民众出售黄金后，会将所得美元兑换 为本币，通常会推高泰铢。 泰国央行此前指示商业银行加强对黄金交易商所有卖出美元交易的文件审核。Vitai称，监管机构还在向 泰国财政部寻求批准，以便允许央行要求主要黄金交易商上报更详细的外汇交易数据。 新浪合作大平台期货开户 安全快捷有保障 责任编辑：李肇孚 泰国财政部和泰国央行在考虑对部分黄金交易征税，并实施交易限制。黄金交易活动激增，被认为是推 动泰铢升至多年高位的原因。 "泰 ...

注：泰国央行、财政部和证券交易委员会就泰铢汇率临时召开记者会。 责任编辑：李肇孚 责任编辑：李肇孚 泰国央行行长Vitai Ratanakorn表示，泰铢升值源于黄金交易量增加。 Vitai周二在非例行记者会上表示，15家国内黄金交易商的收入在2025年增长了39%。 泰国央行行长Vitai Ratanakorn表示，泰铢升值源于黄金交易量增加。 Vitai周二在非例行记者会上表示，15家国内黄金交易商的收入在2025年增长了39%。 注：泰国央行、财政部和证券交易委员会就泰铢汇率临时召开记者会。 ...

（原标题：?揭秘2025年"东南亚最强货币"泰铢背后的双引擎：关税"意外助攻"与黄金潮汐） 首先，毋庸置疑的是过于强势的泰铢使泰国本土制造产品在海外市场更昂贵。泰国商务部统计数据显 示，该国出口在10月以一年多来最慢的速度增长。 智通财经APP获悉，东南亚核心主权货币之一泰铢正迈向八年来兑美元的最大年度涨幅，2025年迄今， 泰铢兑美元涨幅已经高达10%，同期涨势罕见同时胜过新加坡元以及马来西亚令吉、印度尼西亚盾，堪 称东南亚最强货币。乍看之下，几乎没有什么能够解释其相较东南亚区域主权货币的出色表现。泰国经 济远非强劲增长可言，并且受到旅游业持续疲软、高家庭负债以及对美国出口被征收19%关税的重大拖 累。 在华尔街分析师们看来，泰铢的这轮罕见货币走势部分主要由金价上涨以及特朗普关税政策"意外带来 的提振效应"所推动，并且泰铢汇率上行正使这个东南亚国家重点依赖的出口型制造商竞争力下降，并 加剧了新任总理阿努廷·查恩维拉库尔所面临的挑战——其领导的泰国政府将在2月面对一场提前选举。 为何泰铢如此强势? 泰国货币在2024年年中开始兑美元持续走强，差不多就在政府推出经济刺激计划推动出口规模，以及交 易员们在美联储最 ...

东南亚核心主权货币之一泰铢正迈向八年来兑美元的最大年度涨幅，2025年迄今，泰铢兑美元涨幅已经高达 10%，同期涨势罕见同时胜过新加坡元以及马来西亚令吉、印度尼西亚盾，堪称东南亚最强货币。乍看之下，几 乎没有什么能够解释其相较东南亚区域主权货币的出色表现。泰国经济远非强劲增长可言，并且受到旅游业持续 疲软、高家庭负债以及对美国出口被征收19%关税的重大拖累。 在华尔街分析师们看来，泰铢的这轮罕见货币走势部分主要由金价上涨以及特朗普关税政策"意外带来的提振效 应"所推动，并且泰铢汇率上行正使这个东南亚国家重点依赖的出口型制造商竞争力下降，并加剧了新任总理阿 努廷.查恩维拉库尔所面临的挑战——其领导的泰国政府将在2月面对一场提前选举。 为何泰铢如此强势? 泰国货币在2024年年中开始兑美元持续走强，差不多就在政府推出经济刺激计划推动出口规模，以及交易员们在 美联储最新一轮降息周期之前开始抛售美元的同时期。今年以来，外汇交易员们对于美元作为储备货币地位的疑 虑也为这轮上涨提供了强大支撑。 强势泰铢会有什么问题吗? 泰铢近期的大部分涨势由金价(黄金兑美元)大幅上涨带来的外溢效应，与美国劳动力市场走软所推动——美国就 ...

（文章来源：每日经济新闻） 每经AI快讯，12月22日，泰铢进一步升值，兑美元汇率达到31.200，创下自2021年6月中旬以来的最强 水平。 ...

Core Insights - The Bank of Thailand plans to implement new measures to alleviate the pressure of the Thai baht's appreciation and strengthen regulation of gold foreign exchange trading [1] Group 1: Currency Management - The Thai baht has appreciated approximately 1% in the past week, driven by factors such as a weak US dollar, increased foreign exchange settlements by exporters, capital inflows into bonds, and a global gold price increase of over 4% [1] - The central bank intends to raise the limit on foreign exchange income that companies can retain abroad, with this adjustment expected to take effect by the end of the year, aimed at enhancing corporate foreign exchange management flexibility and reducing upward pressure on the baht [1] Group 2: Gold Trading Regulation - The Bank of Thailand is intensifying scrutiny of capital flows related to gold, requiring financial institutions to conduct stricter due diligence procedures before transactions [1] - The central bank recommends that the Ministry of Finance mandates large gold traders to report transaction data to improve monitoring systems and assess the impact on the currency [1]

Core Viewpoint - The Thai Baht is expected to appreciate against the US Dollar from 2025 to 2026, driven by strong economic fundamentals and external factors [1] Economic Forecast - The average exchange rate for USD to THB in 2025 is projected to be 32.9, with a range of 32.4 to 33.4, representing an appreciation of approximately 6.8% compared to the previous year [1] - For 2026, the average exchange rate is expected to be around 31.8, with a range of 31.3 to 32.3, indicating a further appreciation of 3.2% from 2025 [1] Factors Influencing Baht Appreciation - The appreciation of the Baht is influenced by four main factors: 1. Continued weakening of the US Dollar providing external support for the Baht [1] 2. Persistent fiscal surplus and strong trade performance in Thailand, establishing a solid economic foundation [1] 3. Recovery of international investor confidence leading to sustained capital inflows into Thai bonds and stock markets [1] 4. Rising global gold prices providing additional support for the Baht [1] Short-term Uncertainties - Despite the positive outlook, there are several short-term uncertainties affecting the Baht's appreciation, including: - Temporary strengthening of the US Dollar [1] - Volatility in global capital flows [1] - Geopolitical tensions and trade frictions [1] - Fluctuations in international oil and commodity prices [1] External Influences on Competitiveness - Global economic conditions, changes in the energy market, and fluctuations in major currencies will significantly impact Thailand's export competitiveness and the recovery of the foreign tourist market [1]

Core Insights - Thailand's export value is projected to grow by 5.7% year-on-year in 2025, with an expected growth rate of 5.8% in August 2025, aligning with forecasts [1][2] - Significant growth in exports of electronic products, particularly computers and integrated circuits, with a 12.8% year-on-year increase in exports to the United States in August [1] - Gold exports continue to rise, with over 50% of gold exported to Switzerland [1] - Agricultural exports have decreased by 13.5% year-on-year, notably due to a significant drop in rice exports, influenced by India's new rice export policies and the appreciation of the Thai baht [1] Export Performance - The total export value for the first eight months of the year increased by 13.3% year-on-year, but a significant reduction is expected for the remainder of the year due to anticipated impacts from U.S. tariff policies and a slowdown in electronic product exports to the U.S. [1] - Potential increases in import tariffs on semiconductor products by the U.S. could adversely affect Thailand's semiconductor and related electronic equipment exports, significantly impacting overall export performance [1] Currency Impact - From early 2025 to September 23, the Thai baht appreciated by approximately 7%, affecting exporters more than the reduction in order volumes, as export goods are typically priced in U.S. dollars [2] - Exporters relying on domestic raw materials, such as rubber, plastics, and food industries, are more adversely affected by the baht's appreciation compared to other sectors [2]

Core Viewpoint - The appreciation of the Thai Baht is expected to lead to a 17% decrease in tourism revenue for Thailand, as stated by the Director of the Tourism Authority of Thailand, Tapernee [1] Group 1: Currency Impact - From January 1 to September 19, the Thai Baht appreciated approximately 8% against the US dollar, changing from about 34 THB per USD to around 31.6 THB per USD [1] - The appreciation of the Baht increases travel costs for foreign tourists, affecting expenses such as airfare, accommodation, and dining [1] Group 2: Competitive Landscape - The currency trends of competing tourist destinations are contrasting; for instance, the Japanese Yen depreciated by 6.22% and the Vietnamese Dong by 3.38% [1] - The stronger Baht reduces Thailand's attractiveness compared to other regional countries, leading to a projected loss in tourism revenue [1] Group 3: Consumer Behavior - Budget-conscious foreign tourists may reduce spending or choose to travel to cheaper destinations, while some affluent Thai citizens may opt for outbound tourism, further impacting domestic tourism revenue [1]