Blake7 Posted January 26, 2007 Share Posted January 26, 2007 That's exactly what happened in May '97 when baht in Singapore 23.5 and 25 in Bangkok. People loaded up suitcase with millions and flew to Changi, changed them back and returned to Don Muang. Illegal of course. A few were caught as one read in the Bangkok Post but some got away with it and made millions. Who ? Corrupt politicians whose baggage was not inspected. Anyone named ? Some one whose name begins with the letter 'T' Dont suppose you got a link to this story? Link to comment Share on other sites More sharing options...
helitool Posted January 26, 2007 Share Posted January 26, 2007 Interesting reading! wallstreetwindow.com/usdollar.htm?gclid=CIKw9rfG_YkCFQtkYQod4kteNA Link to comment Share on other sites More sharing options...
wilko Posted January 26, 2007 Share Posted January 26, 2007 unless currencies etc go up and down in value nobody can make any money....so who d'you think is causing the fluctuations Link to comment Share on other sites More sharing options...
konangrit Posted January 26, 2007 Share Posted January 26, 2007 (edited) GBP still dropping like a lead balloon, under 66/£ to 65.875/£ now. 33.65/$ Edited currency denomination. Edited January 26, 2007 by konangrit Link to comment Share on other sites More sharing options...
konangrit Posted January 26, 2007 Share Posted January 26, 2007 Wow, dropped to 64.775/£ since I made that post! Link to comment Share on other sites More sharing options...
konangrit Posted January 26, 2007 Share Posted January 26, 2007 xe.com Universal Currency Converter ® ResultsLive mid-market rates as of 2007.01.26 08:25:05 UTC. 1.00 USD United States Dollars = 32.9937 THB Thailand Baht 1 USD = 32.9937 THB 1 THB = 0.0303088 USD Under THB33/$ ! Link to comment Share on other sites More sharing options...
pkrv Posted January 26, 2007 Share Posted January 26, 2007 Errrrrr.... increased in value - not dropped. If you are already invested in Thailand your assets have increased. Link to comment Share on other sites More sharing options...
konangrit Posted January 26, 2007 Share Posted January 26, 2007 Yeah, noticed that I put the wrong denomination in. I've got 3M in the bank, I'm happy. Link to comment Share on other sites More sharing options...
dave111223 Posted January 26, 2007 Share Posted January 26, 2007 AHHH, just hit 32! (32.99/$ according to XE) this is crazy? But when i was at the bank today the rate was almost 36/$ how does this work? Surely there are some people making a killing off this? Link to comment Share on other sites More sharing options...
chiang mai Posted January 26, 2007 Share Posted January 26, 2007 Baht devaluation, here we come! Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2007 Share Posted January 26, 2007 crazy! Link to comment Share on other sites More sharing options...
konangrit Posted January 26, 2007 Share Posted January 26, 2007 (edited) Naam, how do you explain all these sharp spikes? Is it the BOT unsuccessfully attempting to intervene? Edited January 26, 2007 by konangrit Link to comment Share on other sites More sharing options...
buriramboy Posted January 26, 2007 Share Posted January 26, 2007 so theoretically i could go now and buy $1000 for 33,000 baht give or take and when the BOT intervenes again at 8am Monday morning and sends the baht back to 36, i can then go sell my $'s for 36,000 baht????? BB Link to comment Share on other sites More sharing options...
cclub75 Posted January 26, 2007 Share Posted January 26, 2007 so theoretically i could go now and buy $1000 for 33,000 baht give or take and when the BOT intervenes again at 8am Monday morning and sends the baht back to 36, i can then go sell my $'s for 36,000 baht?????BB Yes and no. I think you're confused with on and off shore markets. To explain you : You take out some THB from thailand. Outside, you sell them for 33, against USD (off shore market) . Then you go back to Thailand, and you sell your USD against THB at 36. When we say that THB is going from 36 to 33, you have to understand that there are 2 markets. Link to comment Share on other sites More sharing options...
Mid Posted January 26, 2007 Share Posted January 26, 2007 that's the rub ................... for us it's theory , others play the game Link to comment Share on other sites More sharing options...
buriramboy Posted January 26, 2007 Share Posted January 26, 2007 just so i am clear the price quoted on CNBC (channel 77 on UBC) is that the onshore or offshore price, i am presuming the offshore price but basically haven't got a clue, cheers. BB Link to comment Share on other sites More sharing options...
OOLEEBER Posted January 26, 2007 Share Posted January 26, 2007 Right now 16.14 Thai time xe.com is showing 25.75 to AU$1 Now it's getting scary. Before 1% to 6% was extrordinary in 48 hours but now it's looking like things could go south big time. As an exporter this is scary. There's so much volatility out there. I agree with the poster about the spikes. <deleted>. There must be some dudes at BOT who are looking for the nearest window right now. There are a lot of countries and institutions who must be skimming s**t loads from the BOT right now. DUH ! And as for the junta's ideas on how to control the economy...jeezzz. I could have done better when I was 8 years old. Oh... and as for the deposed Mr T. Am I the only one who thinks his economic policies were pretty d*mn good? Thank goodness for Thai Visa, I feel so much better now Ive got that off my chest. Now....where's my Chang? Link to comment Share on other sites More sharing options...
oz457 Posted January 26, 2007 Share Posted January 26, 2007 (edited) Hmm, can someone tell me which exchange rate is the correct one from a market point of perspective? The onshore (inside Thailand) or the offshore exhange rate. I have some euro money inside Thailand. Should I quickly exchange the money or should I wait? Any help would be appreciated. Edited January 26, 2007 by oz457 Link to comment Share on other sites More sharing options...
chiang mai Posted January 26, 2007 Share Posted January 26, 2007 Hmm, can someone tell me which exchange rate is the correct one from a market point of perspective? The onshore (inside Thailand) or the offshore exhange rate.I have some euro money inside Thailand. Should I quickly exchange the money or should I wait? Any help would be appreciated. Just sit, wait and be patient, this is not over yet and as we speak both USD and GBP are gaining. Link to comment Share on other sites More sharing options...
bkkandrew Posted January 26, 2007 Share Posted January 26, 2007 (edited) Has anyone been to Super Rich today? What is their rate spread on GBP, EUR and USD? Edited January 26, 2007 by bkkandrew Link to comment Share on other sites More sharing options...
buriramboy Posted January 26, 2007 Share Posted January 26, 2007 just been watching UBC, Bloomberg is quoting 33.8 baht to the $ and CNBC is saying 35.8, who is right?? Link to comment Share on other sites More sharing options...
JimsKnight Posted January 26, 2007 Share Posted January 26, 2007 just been watching UBC, Bloomberg is quoting 33.8 baht to the $ and CNBC is saying 35.8, who is right?? Baht to £ =65.77! Baht to $ =33.65 Roller Coasters still rockin'!! Hang on back there! This rides about to shake us all over the place! Link to comment Share on other sites More sharing options...
Cyberstar Posted January 26, 2007 Share Posted January 26, 2007 unless currencies etc go up and down in value nobody can make any money....so who d'you think is causing the fluctuations Wouldn't things make sense if it were the same guy(s) selling Bahts at e.g. 34 and bying them back at 35.5? Link to comment Share on other sites More sharing options...
turnip Posted January 26, 2007 Share Posted January 26, 2007 Time to move to Cambodia. You can do a tart for 330baht! Nice. Link to comment Share on other sites More sharing options...
JimsKnight Posted January 26, 2007 Share Posted January 26, 2007 (edited) Time to move to Cambodia.You can do a tart for 330baht! Nice. Baht still rising in strength! Topfield! Its time for action stations! I'll hold the suitcase open while you shovel the baht in! Edited January 26, 2007 by JimsKnight Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2007 Share Posted January 26, 2007 just been watching UBC, Bloomberg is quoting 33.8 baht to the $ and CNBC is saying 35.8, who is right?? Bloomberg is right. Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2007 Share Posted January 26, 2007 Baht devaluation, here we come! devaluation? how many bottles of Chang today? Link to comment Share on other sites More sharing options...
jumbo2 Posted January 26, 2007 Share Posted January 26, 2007 Baht devaluation, here we come! devaluation? how many bottles of Chang today? Remember this statment made by the BOT: When the Thai currency closed at 35.09 on Friday Dec. 15, Tarisa instructed her team to keep working all weekend so she could announce an effective policy on Monday Dec. 18. She would have preferred to unveil details ahead of a weekend to give investors time to digest the measures, but the baht had moved to a ``precarious'' level. ``We did not have the luxury of waiting for another weekend,'' she said. We are well and truly thru the 35 lvl now ....wonder what they are up to this weekend!!!! Link to comment Share on other sites More sharing options...
britmaveric Posted January 26, 2007 Share Posted January 26, 2007 I'd like to know who's fking with the currency other than the BOT, WHO ARE THESE SPECULATORS???? Link to comment Share on other sites More sharing options...
mitrapaap Posted January 26, 2007 Share Posted January 26, 2007 I have a lot depts in euro and $$$ maybe transfer money now or wait or if wait loos?difficult situation we import a lot and sell with low profit, any change can be a good profit or loosing a lot money I'm in the export business like you. Western buyer logic goes like that: When the exchange rate moved from 30B for a $ to 40 B for a $ then our customer asked us to lower the prices because we get more Baht for every $ they pay us. When the Baht moves in the other direction, like now, they say you can keep your price becuase you buy the raw material in $ so now you pay less Baht when buying raw material. The buffalo is always the vendor. Link to comment Share on other sites More sharing options...
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