kuffki

I too have been surprised by the strength of THB. Sitting here, the problems that should cause some weakening, seem so real. However, I think there are a few reasons why THB has failed to fall against most currencies and in particular USD.

Firstly, Thailand, along with several (not all) Asian countries has not suffered a huge deterioration in the health of it's banks. I am sure there is some deterioration in credit quality of the Thai bank loan books, but not to the extent of the US, UK, Icelandic, Eurozone banks. So prima facie, there is no need for a huge devaluation to take place.

Secondly, yes growth rates have slowed, will slow more, may be negative, but in comparison to some major developed economies, the Thai economy is doing OK in relative terms. Also compare to S Korea and Singapore, Thailand is doing ok in relative terms, for example.

Thirdly, the political issues that I personally thought would cause some weakness, did not do so. In hind sight, I think most long term investors in the Thai economy are used to such issues and looked past them.

Fourthly, I do not know, but suspect that there must be some small supporting action by BOT for THB, as and when it might be needed. My assumption is the BOT does not want THB to be weak otherwise hedge funds might smell blood and start to try and force THB much lower.

Fithly, The previous action by BOT to introduce exchange controls, drove away a lot of THB holders who have not come back. Those that remain are in THB for the longer term and short term speculators are scared of exchange controls being tightened again. So THB is not in play.

Summery, whether THB does eventually start to fall depends on how well the economy does against other economies. For sure Thailand's economy will deteriorate, but so will others. Just look at S Korea and Singapore. So if Thailands economy slows, but at a lower rate than others, the currency may well not lose much ground, if any.

Thanks for your intelligent post-thats another theory.

Because the theory about BOT having high reserves and selling off/buying thai baht would keep the value up, but what would happen when they sell off the lot?

Just today BBC ran 30 mins segment on Thailand's economy and did interviews with Finance Minister, PM etc.

According to that show, Thai economy is suffering enormously and things are looking worse by day, some did mention that the forecasted growth was infact optimistic and it is more likely to be at 0 or even in negative. They also mentioned that in the last 3 months 500 000 people lost their jobs.

So is it strong due to economic condition or BOT? Possibly both, but once again what would happen once reserves are empty and economy is still slow if not crashing?

I believe for Thailand to pull through this crisis, they should devalue the currency to attract foreign investment, increase exports and get the tourism.

For Example, UK being the largest investor in Thailand with current exchange rate of 46 baht, i am sure would put off many orders. Current rate is almost half the value it was 5 years ago, same goes for AU$, from 30 baht down to 22 baht. Funny enough most of my clients are from those 2 country's and my orders were still strong as i did not adjust/increase the prices, but now that i have no option but to increase the prices-many customers stop odering and going to buy in China.

Anyhow-Waiving visa fees i doubt would make any difference to economy, Slashing airfares by up to 50%, firstly will attract budget tourism not to mention i do not think is actually a "true " statement.

Just checked out rates on Thai airway site and the rates are higher then before, so i think they put up the prices to now slash it-so in fact no change.

Just trying to get some idea on where to meet girls foreigners living in Thailand age 20-35?

I am 32 year old man from Australia and after living in Thailand for past 5 years, i no longer can "do" Thai girls

Can never get good conversation or any decision besides "up to you"

I am getting older and like to settle down, just do not see myself ever marrying Thai, and for business reasons unable to return back home.

So would be nice to meet some women from Western or Eastern world, make friends and may be be

Anyone knows where those girls hide?

Hi everybody!

I am located in Samui and need to renew my visa B non imm in 2 weeks.

We've has until now a 3 months visa issued in Penang with no problem.

We now wnat to apply for a 1 year visa and heard Penang only delivers them to companies with 8M THB capital (which we have not!).

We were told to go to Kota Baru, the only problem is that we have a 10 months baby and cannot think of taking him on a 12 hours bus trip (plus the trip back!)

If we were sure to get the one year visa, we would be ok to pay more and fly to wherever needed (in South East Asia, I mean:-)

Could you tell me if you know anything about Lao, Cambodia? Burma???

I also checked the flights Koh Samui- Penang (or Subang) and then kota Baru, possible thing to do though not convenient at all as flights schedule really don't match!

Thanks in advance for your help!!

The easiest way is to contact Siam Legal, for approx AU$500 they take care of everything and you would not need to fly anywhere, just check out their site.

You would only need to post your passport to them and they will take care of the rest. I know its available for UK, USA EURO and AU citizens for sure, but see the site for more info

I have seen on some postings and also in google people mentioning something about 3 or 5 year Non-Immigrant "B" Multiple entry Visa that now is available in Australia, but could not find any info on it on any official website or Thai embassy

Does anyone have any idea or more information on it?

The IMF website you quote says Oct 2008 reserves were 103 billion USD. What's the problem?

"Current Data: In Millions," So is not it 103 million not billion

You can easily google it. Thai foreign reserves were 111 billion USD on Dec. 31, 2008.

Ok, so who to trust?

International Monetary Fund?

or

Statement by Bank of Thailand?

Naam is right, the Thai reserve is well over 100 billion dollars.

Yes he is http://www.imf.org/external/np/sta/ir/tha/eng/curtha.htm

Note the last update and the notes stating"Current Data: In Millions of US Dollars (end of period)"

Again goes to show how much people know and research prior to posting!

Well Chiang Mai, you are a platinum member with over 2500 posts, so you tell me after reading the original post,who has addressed the actual question,who understands basic economics or exchange rates?Just the fact that some people think 10,000 baht is a lot of money goes to show their ability's

So you right, no point in wasting time. I was hoping to get an educated responses with some theory's, instead got some blah blah about blah

member britmaverick explained it already and i second his explanation. you of course are so wrapped in your own incoherent blah-blah

-I have been living in Thailand for past 5 years...

-Can anyone please explain how thai baht remain sooooo strong?

-I understand that Thai baht is measured compared to USD

-I have studied business, and consider myself a fairly smart man, but...

that you don't listen to the only logical explanation which, by the way, was discussed by presenting facts and figures in several other threads

Naam! just the fact that you have over 7500 posts shows you have no life but to spend it on the computer! 110 billion is Chinese reserve not Thai-get your facts straight before posting it.

Its amazing!!! so many posts and so few people actually posting something useful!

Just proves the point of how many people have nothing to do but sit around and post"crap" and believe how smart they are

I was going to post an important opinion that I thought would help the debate but then I realized, you would believe it to be crap so I've decided not to waste my time or yours.

Well Chiang Mai, you are a platinum member with over 2500 posts, so you tell me after reading the original post,who has addressed the actual question,who understands basic economics or exchange rates?Just the fact that some people think 10,000 baht is a lot of money goes to show their ability's

So you right, no point in wasting time. I was hoping to get an educated responses with some theory's, instead got some blah blah about blah

Its amazing!!! so many posts and so few people actually posting something useful!

Just proves the point of how many people have nothing to do but sit around and post"crap" and believe how smart they are

You are all missing the point and comparing the Thai economy today to the Farang economies that we thought existed just SIX MONTHS ago.

I am too tired to write a lot on this subject now, but take the following simple premises

- The west is in debt to Asia

- The west has moved its production to Asia

- The west has moved its technology to Asia (just look at the number of Asian students in the west studying USEFUL technology and not history of frigging art)

- The west has unbelievably and inconceivably immense problems with the banking industry (can you relate to one trillion of ANYTHING)

- There are still MORE problems to surface in the west with pension schemes and banking bailouts (have you seen an INCREASE or REDUCTION in the reports or figure coming out?)

- large and increasing unemployment and who is to pay for it?

- massive government overhead in the economies

Anybody care to argue its not true? Anybody see a solution?

Now look at Thailand

- net exporter

- no banking problems

- no pension scheme disaster on the way

- trade surplus

Just take any of the negatives in the West and give me a corresponding negative here. I can't find a single one.

The only reason I can find in all of the posts in TV, talking to friends, tourists that people think the problem will be bad here is that WITHOUT EXCEPTION they all think that Asia NEEDS the WEST.

My answer is WHY?

It seems blatantly obvious to me that Asia does NOT need the West in the medium to long term.

In the same way that the west had it's industrial revolution, wars and economic recovery thereafter WITHOUT Asia, now Asia is standing in the same position but FAR FAR better positioned.

The west, in my opinion, has totally blown it with greed, the uncontrolled, unregulated banking system and compliant politicians too scared to do anything to stop it all.

Open your eyes, and just watch the ticker on http://www.bloomberg.com/?b=0&Intro=intro3

Do you see any bailouts in Asia? Banking failures?

I am now having sleepless nights wondering how to limit the damage to my finances and re-establish a secure future which I had just six months ago before Iceland collapsed, exchange rates went wild and interest rates came down to zero.

If you are sitting complacently then I suggest that you

- have enough to ride out any eventuality or

- cannot do anything because you are tied up to a pension or assets you cannot move or

- have not tried to understand what is happening in the world and hope the problems will just go away or

- are already involved in Asia with a secure income

let the flaming start...

Wow, so lets assume when you talk about Asia you mean China, Korea, Thailand, Singapore etc RIGHT?

Have you been drunk for the last few months or do not watch the news and read the papers?

China-big problems, Korea-currency almost crashed, big economic trouble, Singapore-officially in recession

Thailand- no problems at all!!!

What is Thailand an exporter of? and where does it export? How can you possibly write the rubbish you have written?

If west does not buy, what and where would Thailand sell?

What does Thailand manufacture? Tell me one Thai owned company who has gone international besides Thai Airways

All manufacturing in Thailand is western owned, Most developments are Western owned, not to mention supermarket chains such as Tesco, Carefour etc

Who and what money has built Thailand?

All auto manufacturing is suffering worldwide so your Thailand exports-gone to sh***t

All electronics gone down and loosing money, clothing manufactures are in China not in Thailand, rubber, steel etc is all down world wide, so again who needs whom? What is Thailand with out the West?Where was Thailand 40 years ago and where it is now, who has made it to what it is? Who owns all hotel chains? Who owns all resorts? who owns half of if not all contstruction company's

Please do not write stupidity without having common sense to analyse the facts.

I'm not sure that I personally want to engage in many more of these "why is the Baht so strong", "when is the baht going to crash" and "should I change my foreign currency today" threads, but some of the things you wrote are simply so wrong that you need to read some of the other threads on these subjects and correct your understanding on these matters, which is currently so far adrift it's not even funny.

Ok, no direspect Chiang Mai, but if you do not want to be engaged, why the hel_l are you posting then?!

and of course all the things i wrote were wrong and yes i should read the papers and yes i have no understanding at all. Now you are at ease and can move on to other posts!

Wow, so lets assume when you talk about Asia you mean China, Korea, Thailand, Singapore etc RIGHT?

Have you been drunk for the last few months or do not watch the news and read the papers?

China-big problems, Korea-currency almost crashed, big economic trouble, Singapore-officially in recession

Thailand- no problems at all!!!

What is Thailand an exporter of? and where does it export? How can you possibly write the rubbish you have written?

If west does not buy, what and where would Thailand sell?

What does Thailand manufacture? Tell me one Thai owned company who has gone international besides Thai Airways

All manufacturing in Thailand is western owned, Most developments are Western owned, not to mention supermarket chains such as Tesco, Carefour etc

Who and what money has built Thailand?

All auto manufacturing is suffering worldwide so your Thailand exports-gone to sh***t

All electronics gone down and loosing money, clothing manufactures are in China not in Thailand, rubber, steel etc is all down world wide, so again who needs whom? What is Thailand with out the West?Where was Thailand 40 years ago and where it is now, who has made it to what it is? Who owns all hotel chains? Who owns all resorts? who owns half of if not all contstruction company's

Please do not write stupidity without having common sense to analyse the facts.

well, thanks for the first flame.

1. If the West does not buy, then maybe the developing East can? Lots of potential to develop here and the Asians are keen to own cars, houses, and all the other stuff that the West has been enjoying but produced in the East, and the Asians are very keen to work for it. Who in the West would spend a month's salary on a mobile phone? In Thailand this is not unusual.

2. So Western companies have invested in Asia. Well, that seems to confirm EXACTLY what I said. Here is the future and they want to be a part of it. I suppose the question is whether they sell the products in the West or in the East. Do they care provided profits come in? The question you should ask is why they are not investing in the West.

I absolutely agree that without the West Asia would not be at the level of economic development it is now. The mistake is to think that they will CONTINUE to need the West for future economic expansion. And THAT is the point I am making.

I did not say that things would be easy anywhere on the globe, but I did say that Asia is much better positioned to survive and profit, even WITHOUT the West.

12DrinkMore, I agree with you there, but the point i was trying to make was, all Asian country's have been hit and affected, may be not to extreme like other country's. But it seems that Thailand is the only country that is not suffering at all.

Reading the papers everyday, they keep talking about the problems, but looking at the exchange rate-it does not seem to show.

Hmmm, so what you are saying is Thailand has the greatest economy in the world?! better then Japan, UK, China, etc

Every single country in the world has been affected by the crisis but not Thailand. Do not you think its little mad to even write this kind of statements?

What is Thai economy based on to make it so strong? HMMMM rice? lol

I did not say it has the greatest economy in the world. I said their economy has been performing well over the last few years. They have had growth rates of between 4-7 % over the last few years and the UK has had growth of less than 2%. They also do not have the debts of the UK and their banks are sounds unlike the UK. Maybe you have missed the news lately but the UK government has had to pour in and promise near £800 billion towards its banks, that makes your currency look like shit to outside investors. The Thais have yet to do anything remotely like that amount. As for writing what I did, No I do not think it is mad. Happens to be true.

Why are you talking about UK? and where did i say i was from UK and it was my currency?

I can clearly assume you are Thai-right?!

So Indian economy which had growth of 9% must also be mismanaged-since their economy is suffering with 9% growth, so does Chinese, Japanese, Korean,Australian-which mind you had strong growth for past 8 years of 6%-7% per year and even now still has 1%-2% growth in the last quater.

In Thailand, even if the banks were suffering-no one would tell you, you would simply loose the money and then go scream outside of parlament house.

Not to mention Thai Government did issue a statement they will support the bank and have ALREADY poured billions and are going to pour more billions into economy-READ THE PAPERS

[Here is another mind blowing fact

Exchange rate in Bangkok is NOT the same as in Pattaya

While in Bangkok Bangkok Bank was changing AUD$1 =24.40 Thai Baht, where in Pattaya on that same day i was able to get AUD$1=25.60 Thai Baht(only for cash exchange)

So figure this one out!

Same bank, same time, same currency but different rate

You are all missing the point and comparing the Thai economy today to the Farang economies that we thought existed just SIX MONTHS ago.

I am too tired to write a lot on this subject now, but take the following simple premises

- The west is in debt to Asia

- The west has moved its production to Asia

- The west has moved its technology to Asia (just look at the number of Asian students in the west studying USEFUL technology and not history of frigging art)

- The west has unbelievably and inconceivably immense problems with the banking industry (can you relate to one trillion of ANYTHING)

- There are still MORE problems to surface in the west with pension schemes and banking bailouts (have you seen an INCREASE or REDUCTION in the reports or figure coming out?)

- large and increasing unemployment and who is to pay for it?

- massive government overhead in the economies

Anybody care to argue its not true? Anybody see a solution?

Now look at Thailand

- net exporter

- no banking problems

- no pension scheme disaster on the way

- trade surplus

Just take any of the negatives in the West and give me a corresponding negative here. I can't find a single one.

The only reason I can find in all of the posts in TV, talking to friends, tourists that people think the problem will be bad here is that WITHOUT EXCEPTION they all think that Asia NEEDS the WEST.

My answer is WHY?

It seems blatantly obvious to me that Asia does NOT need the West in the medium to long term.

In the same way that the west had it's industrial revolution, wars and economic recovery thereafter WITHOUT Asia, now Asia is standing in the same position but FAR FAR better positioned.

The west, in my opinion, has totally blown it with greed, the uncontrolled, unregulated banking system and compliant politicians too scared to do anything to stop it all.

Open your eyes, and just watch the ticker on http://www.bloomberg.com/?b=0&Intro=intro3

Do you see any bailouts in Asia? Banking failures?

I am now having sleepless nights wondering how to limit the damage to my finances and re-establish a secure future which I had just six months ago before Iceland collapsed, exchange rates went wild and interest rates came down to zero.

If you are sitting complacently then I suggest that you

- have enough to ride out any eventuality or

- cannot do anything because you are tied up to a pension or assets you cannot move or

- have not tried to understand what is happening in the world and hope the problems will just go away or

- are already involved in Asia with a secure income

let the flaming start...

Wow, so lets assume when you talk about Asia you mean China, Korea, Thailand, Singapore etc RIGHT?

Have you been drunk for the last few months or do not watch the news and read the papers?

China-big problems, Korea-currency almost crashed, big economic trouble, Singapore-officially in recession

Thailand- no problems at all!!!

What is Thailand an exporter of? and where does it export? How can you possibly write the rubbish you have written?

If west does not buy, what and where would Thailand sell?

What does Thailand manufacture? Tell me one Thai owned company who has gone international besides Thai Airways

All manufacturing in Thailand is western owned, Most developments are Western owned, not to mention supermarket chains such as Tesco, Carefour etc

Who and what money has built Thailand?

All auto manufacturing is suffering worldwide so your Thailand exports-gone to sh***t

All electronics gone down and loosing money, clothing manufactures are in China not in Thailand, rubber, steel etc is all down world wide, so again who needs whom? What is Thailand with out the West?Where was Thailand 40 years ago and where it is now, who has made it to what it is? Who owns all hotel chains? Who owns all resorts? who owns half of if not all contstruction company's

Please do not write stupidity without having common sense to analyse the facts.

I have been living in Thailand for past 5 years and now i am beyond puzzled.

Can anyone please explain how thai baht remain sooooo strong?

I understand that Thai baht is measured compared to USD, Fine, so AUD, POUND, EURO, YEN and all other currency's have lost against USD-but not the Thai baht.

What is keeping it strong? Sex tourism-NO, Tourism-NO, Investment-NO,Manufacturing-NO, Exports-NO

Even funnier, during the airport closure thai baht got stronger.

I have studied business, and consider myself a fairly smart man, but i am just unable to wrap my head around the stength of Thai Baht

Any ideas?

The economy of Thailand has been performing well over the last few years with a lot of growth. Other countries have not therefore their currency has taken a hit. Now the Thai economy has hit a brick wall with the current economic crisis in the world their currency will not be as strong but compared to other major currencies it should be ok as other countries economies are in a much worse state than Thailand.

Hmmm, so what you are saying is Thailand has the greatest economy in the world?! better then Japan, UK, China, etc

Every single country in the world has been affected by the crisis but not Thailand. Do not you think its little mad to even write this kind of statements?

What is Thai economy based on to make it so strong? HMMMM rice? lol

Didn't exports rise over 20% last year alone? And this year is expected that exports will remain near this high level here in Thailand. Compare Thailand's exports for the last ten years and I think you'll get an idea of the the relative strength of this economy.

I do not know where you got this figures, but according to Thai media, last year exports dropped by 30% and orders for 2009 dropped by further 30%

"And this year is expected that exports will remain near this high level" -is this wishfull thinking or desperate hopes?

Just simple maths, if the factory's are laying off people-it means they do not make the money and the reason why they do not make the money is because the orders are dropping which in turn means exports DOWN not UP!

GM, LG, SONY, and hundreds of others have already laid off thousands and unemployment is reaching 1000 000 and this is official, what about unofficial-double that?

So how in the hel_l can you believe the exports are strong and up?!

Without a doubt Bank of Thailand(BOT) during it's thing to keep it strong, a no brainer haven't you notice the baht is always strongest around the 1st and middle of the month, i.e., farang pay days.

HAHA

http://www.thaivisa.com/forum/What-s-Talk-...se-t234186.html

might find some useful info here

Cheers Geo, just looked through it and now it does make more sense. Just failing to see what good it does for the country lol. But i guess i would have to be a thai politician or economist to understand

HEY All, can anyone please help to find small moving company to move me from Bangkok to Pattaya.

Do not have much at all, would most likely fit into a small van or pick up.

If may be you own a pick up or know someone, please help.

Have been looking for a few weeks now and cannot find anyone.

Any help or suggestions would be much appriciated

Why dont you just rent a pick up?

Honest answer? hehe-too scared to drive in BKK, its bad enough to be a passenger sometimes

Being propped up by the BOT - plain/simple.

Thanks Chivas, i guess i am not as smart as some

britmaveric-it is not that simple, because they have to be able to back it up with something, otherwise it may lead to some serious trouble in the near future.

May be i should of added in the original post that only people who know what they talking about should respond

So if you do not know economics but like to appear smart, and really want to reply-then just post something like "yes it is puzzling" or "good questions" etc

PS. Thanks again Chivas for being "normal"

I find the search useful - but maybe it will not help you

What do you mean by "search"? Search what? where?

I can send you number, see the other topic.

If you could that would be great.

I send email to the address given in previous post-but it bounced back(email not valid)

Thanks in advance

I have been living in Thailand for past 5 years and now i am beyond puzzled.

Can anyone please explain how thai baht remain sooooo strong?

I understand that Thai baht is measured compared to USD, Fine, so AUD, POUND, EURO, YEN and all other currency's have lost against USD-but not the Thai baht.

What is keeping it strong? Sex tourism-NO, Tourism-NO, Investment-NO,Manufacturing-NO, Exports-NO

Even funnier, during the airport closure thai baht got stronger.

I have studied business, and consider myself a fairly smart man, but i am just unable to wrap my head around the stength of Thai Baht

Any ideas?

Have been aware of the Elite card since it started but didn'f find it interesting in the beginning due to the annual fees etc.

Try and keep your story straight. The Elite card didn't have annual fees in the beginning. They were a much later add-on.

He's a Troll.But a wanna be Elite troll.

None I know (myself included )with the means to by the Thai Elite card,did it.Simple common sense.If you think you have to show your wealth,and being chaffered in a Beemer is the experience of your life,then the Thai Elite card is right for you.Defending it is an accessory.

GOOD ONE [/sizeHe's a Troll.But a wanna be Elite troll.