US government shutdown not seriously affect Thailand

BANGKOK, October 2 (TNA) - The research house of Thailand's Siam Commercial Bank (SCB) says that the temporary "federal government shutdown" in the United States currently is unlikely to seriously affect Thai exports to the US market and the Thai economy consequently. The research think tank of Thailand's oldest commercial bank explained that most Thai exports shipped to the US market are durable goods, namely electronic and electrical appliances, which should not have any impact on local consumers' decisions during the temporary shutdown by some US government agencies. Meanwhile, executives at the capital markets business division of Kasikorn Bank (KBank) acknowledged that the US shutdown could cause fluctuation of the Thai baht only in the short term when people and businesses are closely following up whether such the shutdown, the first in the United States in 17 years, would be prolonged, and are waiting for results from negotiations on Washington's move to raise its debt ceiling on October 17, causing the Thai currency to likely hover around 30.75–31.50 baht a US dollar. The temporary shutdown by some US government agencies followed the Democrats-controlled Senate and the Republican-led House of Representatives failed to strike a last-minute deal to pass the 2014 government budget due to their different positions on a new healthcare law, known as "Obamacare". (TNA)