What's with the Baht? ???

[SheungWan]

7 minutes ago, whiteman said:

I feel sorry for all the older moaning poms over here that will now clog up the foot paths outside 7/11s with beer in hand after moving out of the bars. The pound is crashing 

Yes. Right. Like the Australian Dollar has been doing so much better during the same period.

[yuiop]

This has almost nothing to do with Brexit.

Economic dominance of western countries on Asia is well over now, and this is reflected by the appreciation of all major asian currencies against USD, GBP, EUR etc during the last years.

This is a general trend and is there to stay. Forget the 50b to the usd or 70b to the gbp, it won't come back anymore, unless exceptional events such us war etc.

jm2c

[Different]

Good news, the dollar now equals 32.75 baht and hopefully raising.

[SheungWan]

2 hours ago, Different said:

Good news, the dollar now equals 32.75 baht and hopefully raising.

Marginally down on 24 hours and 1 month. Just stable really.

[SheungWan]

On 12/11/2018 at 11:54 AM, yuiop said:

This has almost nothing to do with Brexit.

Economic dominance of western countries on Asia is well over now, and this is reflected by the appreciation of all major asian currencies against USD, GBP, EUR etc during the last years.

This is a general trend and is there to stay. Forget the 50b to the usd or 70b to the gbp, it won't come back anymore, unless exceptional events such us war etc.

jm2c

Do talk us through the Indian Rupee then.

[ExpatOilWorker]

3 hours ago, Different said:

Good news, the dollar now equals 32.75 baht and hopefully raising.

Don't count on it:

 

From Bloomberg.

“There are not many countries like Thailand where the local economy is getting better but inflation is benign,” Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl, said. “This characteristic could be considered as the best of breed among EM currencies.” He expects the baht to strengthen to 30.7 per dollar by end-2019.

 

 

[morrobay]

On 12/11/2018 at 11:54 AM, yuiop said:

This has almost nothing to do with Brexit.

Economic dominance of western countries on Asia is well over now, and this is reflected by the appreciation of all major asian currencies against USD, GBP, EUR etc during the last years.

This is a general trend and is there to stay. Forget the 50b to the usd or 70b to the gbp, it won't come back anymore, unless exceptional events such us war etc.

jm2c

Oh really, is that why both the VN dong and PH peso have both depreciated against the US dollar in last 2 years? From about 22500/$ to 23300 and peso from 49 to 53/$. The Thai baht will depreciate when the BOT stops buying baht with foreign reserves to defend it's currency. And the day is coming. Does anyone really believe the claim by BOT  of having over 200 billion $ in foreign reserves? That's more than the UK and Germany. And more than total Thai exports last year. 

Edited December 14, 2018 by morrobay
Add

[mogandave]

2 hours ago, morrobay said:

Oh really, is that why both the VN dong and PH peso have both depreciated against the US dollar in last 2 years? From about 22500/$ to 23300 and peso from 49 to 53/$. The Thai baht will depreciate when the BOT stops buying baht with foreign reserves to defend it's currency. And the day is coming. Does anyone really believe the claim by BOT  of having over 200 billion $ in foreign reserves? That's more than the UK and Germany. And more than total Thai exports last year. 

yes, but they're getting all the new deposits for retirement visas...

[soalbundy]

14 hours ago, morrobay said:

Oh really, is that why both the VN dong and PH peso have both depreciated against the US dollar in last 2 years? From about 22500/$ to 23300 and peso from 49 to 53/$. The Thai baht will depreciate when the BOT stops buying baht with foreign reserves to defend it's currency. And the day is coming. Does anyone really believe the claim by BOT  of having over 200 billion $ in foreign reserves? That's more than the UK and Germany. And more than total Thai exports last year. 

These figures are uncontested by the IMF and international finance experts.

[soalbundy]

On 12/13/2018 at 6:21 PM, SheungWan said:

Marginally down on 24 hours and 1 month. Just stable really.

and a 40% chance of a recession in 2 years.

[Ban Phe Dezza]

On 12/13/2018 at 6:21 PM, SheungWan said:

Marginally down on 24 hours and 1 month. Just stable really.

Wish my Dollar was 32 baht not the lousy 23 we get

[morrobay]

6 hours ago, Ban Phe Dezza said:

Wish my Dollar was 32 baht not the lousy 23 we get

This is what I've been trying to clear up: For example suppose you receive an income from 20 years working  in Australia that is equal in years and work exactly to someone receiving an income from the US. Both parties did same work at same level for 20 years. Isnt it correct that the Australian receives 32/23 = 1.4 more Aus$ than the US worker. And therefore the incomes converted to to baht are equal. 

Edited December 15, 2018 by morrobay

[SheungWan]

2 minutes ago, morrobay said:

This is what I've been trying to clear up: For example suppose you receive an income from 20 years working  in Australia that is equal in years and work exactly to someone receiving an income from the US. Both parties did same work at same level for 20 years. Isnt it correct that the Australian receives 32/23 = 1.4 more Aus$ than the US worker. And therefore the incomes converted to to baht are equal. 

Answer: No.

[SheungWan]

6 hours ago, Ban Phe Dezza said:

Wish my Dollar was 32 baht not the lousy 23 we get

But 'er better than the 4.18 baht I get per dollar, whatever that means re the above.

Edited December 15, 2018 by SheungWan

[Banana7]

7 hours ago, Ban Phe Dezza said:

Wish my Dollar was 32 baht not the lousy 23 we get

It's still too high and should be down to about 20-21 baht for AUD and less for NZD by 2020.

[lannarebirth]

On 12/15/2018 at 1:09 AM, morrobay said:

This is what I've been trying to clear up: For example suppose you receive an income from 20 years working  in Australia that is equal in years and work exactly to someone receiving an income from the US. Both parties did same work at same level for 20 years. Isnt it correct that the Australian receives 32/23 = 1.4 more Aus$ than the US worker. And therefore the incomes converted to to baht are equal. 

Uh, no. Current minimum wage in Australia is about 235% of the US minimum wage.

Edited December 16, 2018 by lannarebirth

[morrobay]

1 hour ago, lannarebirth said:

Uh, no. Current minimum wage in Australia is about 235% of the US minimum wage.

Converted to US dollars  $13/$7 is about 1.8 time more Australian income. For this to apply to my post above then the 1$/$1.8 must also apply to retirement income. In that case the Australian has a greater income converted to baht for same work, same years worked.

[mogandave]

Not many people working for minimum wage in the US

[SheungWan]

4 hours ago, mogandave said:

Not many people working for minimum wage in the US

2.2 million recorded on or below. But not evenly spread: 5 states the figure is over 5%. That's 1/20.

[mogandave]

2.2 million recorded on or below. But not evenly spread: 5 states the figure is over 5%. That's 1/20.

Nice try, but only about half a million earn the minimum wage.

The hourly workers earning less than minimum are service workers like wait & bell staff that actually earn much more that minimum.

[BritManToo]

Just now, mogandave said:

Nice try, but only about half a million earn the minimum wage.
The hourly workers earning less than minimum are service workers like wait & bell staff that actually earn much more that minimum.

 

1

Most rural adult workers (80% of the Thai population) earn less than 3000bht/month.

1/3 of the minimum wage.

[SheungWan]

16 minutes ago, mogandave said:

 

Nice try, but only about half a million earn the minimum wage.

The hourly workers earning less than minimum are service workers like wait & bell staff that actually earn much more that minimum.

 

I am referring to figures provided by the US BLS (Bureau of Labour Statistics). Please be so kind to tell us where you get your figures from. It is because you didn't bother, that I did.

Edited December 17, 2018 by SheungWan

[mogandave]

I am referring to figures provided by the US BLS (Bureau of Labour Statistics). Please be so kind to tell us where you get your figures from. It is because you didn't bother, that I did.

[mogandave]

And it seems to be trending down...

[SheungWan]

34 minutes ago, mogandave said:

 

Nice try, but only about half a million earn the minimum wage.
The hourly workers earning less than minimum are service workers like wait & bell staff that actually earn much more that minimum.

 

Where is the reference to that anywhere which removes 1 million+ from the BLS figures to your claimed half million total?

Edited December 17, 2018 by SheungWan

[mogandave]

Where is the reference to that anywhere which removes 1 million+ from the BLS figures to your claimed half million total?

Million and a half.

[theguyfromanotherforum]

If it wasn't already low enough, Canadian dollar seemed to have tanked against baht overnight.

[searcher22]

2 hours ago, theguyfromanotherforum said:

If it wasn't already low enough, Canadian dollar seemed to have tanked against baht overnight.

I believe the Canadian dollar has sunk to an all-time low today VS the baht:  23.16 B

[mogandave]

I believe the Canadian dollar has sunk to an all-time low today VS the baht:  23.16 B

Lowest in 20 years, not lowest ever.

Never got as high as 23 until the crash in 97.

[SiamAndy]

In January 2016, I remember getting 36 Baht to the USD, right now it is about to drop below 32 Baht if using the Thai bank exchange rates. Will the exchange rates get any worse?