BORDER TRADE ENTREPRENEURS’ OPINIONS REGARDING THE EXCHANGE RATE FLUCTUATIONS BETWEEN THAI-BAHT AND MALAYSIAN-RINGGIT
Keywords:
Exchange rate fluctuations, Exchange rate, Border Trade EntrepreneursAbstract
This survey aims to study Thai-Malaysian border trade entrepreneurs' trade behavior and opinions on the exchange rate fluctuation of Thai baht and Malaysian ringgit. The target group is 344 entrepreneurs operating their businesses in Narathiwat province. The statistics employed for analyzing the obtained data include percentage, average, and standard deviation.
The results showed that most of the entrepreneurs' trading behavior is in the clothing business, following by fresh food/fruits and vegetables, consumption goods, agricultural utensils, and electricity kits. Having been in a business field for more than five years, the majority of the entrepreneurs view the fluctuations that its most significant impact is on imports and exports. Several businesses are vulnerable to make an offer of goods and services trading. Sales of advance tour package sales are declined. Tourists are more cautious about spending. This circumstance has brought about lower revenues and profits as well as risks and losses. To hedge against these obstacles, it is suggested to promote bank-FX forward contract with the determination of the future rate and the use of local currency.
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