Rising kyat hurts tour operators
June 22, 2011 by TTRweekly Staff
Filed under Myanmar, News
Yangon, 22 June 2011 – The strengthening of the kyat against the US dollar is causing problems for tour operators in Myanmar who have already quoted wholesale contract rates to overseas agents.
Myanmar Times reported travel agents were predicting financial losses due to variations in the currency.
“The price of travel packages will have to increase,” said Yangon’s EPG Travel managing director, Ko Aung Naing.
Singapore costly place to live?
June 9, 2011 by AFP
Filed under News, Southeast Asia
SINGAPORE, 9 June 2011 – Singapore has overtaken Hong Kong to become the third costliest economy in Asia for expatriates’ daily needs because of its strengthening currency, human resource firm ECA International said Wednesday.
It said the Singapore dollar, which has surged by more than 10%t against the greenback, pushed the city-state to third place above Hong Kong, with Japan and South Korea remaining the two most expensive countries.
ECA International carries out a survey twice a year by measuring a basket of common items purchased by expatriates in more than 400 locations globally, such as dairy produce, vegetables, clothing and meals out.
Thai baht hits 13-year high
BANGKOK, 9 September, 2010 – The Thai baht smashed a 13-year record against the US dollar on Thursday as the country’s prime minister predicted continuing strength for the currency, while fears over the impact on exports persist.
The unit surged to 30.85 against the dollar – its best since August 1997 – as premier Abhisit Vejjajiva said further advances were not “beyond expectation”.
“I cannot say that it will reach 29 baht but it’s likely to get stronger,” he said, adding that the Bank of Thailand was now closely watching the inflows of funds thought to be helping drive the baht’s strength.
Thai baht soars to two-year height
BANGKOK, 2 September, 2010 – Thailand on Thursday ordered the central bank to keep a close eye on the baht and “prepare measures” after the currency soared to a 29-month high against the US dollar, the finance minister said.
Travel industry sources expressed concern as the Thai baht also gained against the UK pound and Euro. They estimate a strong baht could raise the cost of travel to Thailand by as much as 15% when compared with costs in 2009. A stronger baht makes Thailand more expensive for travellers from key markets such as UK and all the Euro currency countries.
