Thai Baht Going Stronger!

[JimsKnight]

Whatever marvels the BOT / unknown elements etc are doing is causing the baht to act like a nuclear powered rocket as it now stands the baht is at 67.03 to the pound and 34.05 to the dollar!!!

Can it get any stronger!!!?

[pumpuiman]

incredible. 34.14 mid market rate now.

Huge panic when it hit 35 before.

What will BOT do now?

Watch for aggressive tactics and fireworks

[cclub75]

Whatever marvels the BOT / unknown elements etc are doing is causing the baht to act like a nuclear powered rocket as it now stands the baht is at 67.03 to the pound and 34.05 to the dollar!!!

Can it get any stronger!!!?

Yes. We hit 33.80 a few hours ago... And now 34.

RIP Miss "doctor" Tarisa. She's loosing the war. Game over.

Unless : BOT prepares another "unconventional regulation" (that was the word used by Tarisa)...

Anyway : the players understand that the BOT... is screwed.

-Yesterday : BOT announced another "exemption" for the 30 % reserve rule : for local companies who want to borrow money off shore (it took them 1 month to... detect this problem). At that point, all transactions are going to be "exempted" if they continue !

-The interest rates cut (last week) had no effect. And came too late.

-And BOT can't continue to depreciate THB.

-And... thai gvt has now a big communication problem with foreigners... Plus the pressure on the political side with Thaksin's attacks.

They can't afford to give another blow to finance and business community.

I believe that this is a big factor that should restrain BOT to take new "unconventional" decision to curb THB appreciation.

So... the players start to smell the odor of blood... And they increase their attacks.

Meanwhile, we have to aknowledge that USD is not particulary strong. Gold is going up. That's a sign (and a consequence) of the weakness of USD. There is absolutly no reason to believe that USD could rise on the short term.

So, Tarisa ? What would be your next move ? Resign ?

I mean : one month ago, USD at 35 THB was the end of the world for the thai authorities. This level has triggered the capital control.

So, now, at 34 ?

Edited January 25, 2007 by cclub75

[dclaryjr]

incredible. 34.14 mid market rate now.

Huge panic when it hit 35 before.

What will BOT do now?

Watch for aggressive tactics and fireworks

I hope they do something that works--this is killin' me!!

I very reluctantly agreed to build a house (that I won't live in for several years) when the rate was 43baht to the $.

[pumpuiman]

now 34.03!! mid market!!

live mid market rates

Edited January 25, 2007 by pumpuiman

[Gaudente]

incredible. 34.14 mid market rate now.

Huge panic when it hit 35 before.

What will BOT do now?

Watch for aggressive tactics and fireworks

On Bloomberg TV they display 35.79....on yahoo they display 34....interesting market transparency we have here

[Gaudente]

it seems Bloomberg are the morons .....anyway I would like to help Bank of Thailand in its effort to keep baht low, but just this morning my bank DENIED ME to change my baht in $ and swift them to Singapore....speaking of MORONS !

[Pattaya_Fox]

incredible. 34.14 mid market rate now.

Huge panic when it hit 35 before.

What will BOT do now?

Watch for aggressive tactics and fireworks

On Bloomberg TV they display 35.79....on yahoo they display 34....interesting market transparency we have here

It`s been fluctuating by up to 2.5 baht within a few minutes. As said earlier like a roller coaster. Somebody is buying baht in a big way by the look of things and or dumping major foreign currencies. The Euro is also being affected.

[Gaudente]

now also Bloomberg displays 34.20.Why aren't bank open now so that I can change all my THB ?

[pumpuiman]

I'm lucky that I just sent my final house payment last week.

I wanted to wait for a better rate....but the wife talked me into sending it.

Thanks sweetheart

I guess I should take her to dinner....she saved me a bundle!

[churchill]

Does anyone know how much actual currency this idiotic stance by BOT has cost the Country and how much more will it cost before they give up .

[pumpuiman]

Live mid-market rates as of 2007.01.25 13:50:05 UTC.

1.00 USD

United States Dollars = 34.0005 THB

Thailand Baht

[cclub75]

Does anyone know how much actual currency this idiotic stance by BOT has cost the Country and how much more will it cost before they give up .

Very easy

http://www.bot.or.th/bothomepage/databank/...ce/index03e.htm

Look at table 49 : International reserves. And then Foreign currency reserves.

December 2005 : 52. billions USD

December 2006 : 66.9 billions USD

Mai pen rai. Tarisa will pay the bill.

And of course , there is another price : the huge loss of credibility of thai authorities, plus very defiant business and finance communities.

Well done.

Edited January 25, 2007 by cclub75

[LivinLOS]

Dont worry.. Britmaveric will be on in a minute to tell us the Dollar isnt really tanking.. It will turn around any day now.. Dollars rule

Gold up above 650 again.. Will it push through resistance to the 670 levels and base ?? Febs normally a seasonally strong month..

3 years ago I bet against the USD gradually biting off more and more.. Still convinced its long term direction is purely down..

[JimsKnight]

Hmm, wheres the near mythical Topfield with his intuitive crystal ball!!

What News Topfield! Have you found any kryptonite yet to give the baht a few broadsides?! Its on a rocket ship out of control and our American friends are contemplating a noodle soup diet because of it!

Its Friday tomorrow and that could be the cruncher!

[britmaveric]

No worries - the baht will weaken. (one of these times I will be right!!!!)

[cclub75]

No worries - the baht will weaken. (one of these times I will be right!!!!)

Yes. Some day.

Right now, Thailand is the perfect weak link. Like the TV show.

China and Japan ? The scale.

And this is what Thailand doesn't have.

Other countries in SEA ? Philippines, Malaysia, Cambodia, Vietnam, Burma, Indonesia. No comment.

Thailand is in a better shape, more attractive. On a small scale. With a totally clue less "interim" gvt, that is sometimes more concerned by its "face" therefore who is making big mistakes, and a very specific political situation (military coup, attacks from Thaksin, the political necessity to be sweet vis a vis foreigners, etc.).

So it's the perfect target.

Add to this scheme the fact that USD is obviously on a downward trend... And for a long time.

So eventually, BOT will have to admit defeat.

I repeat : 1 month ago, USD = 35 THB, it was the end of the world. So now, at 34 ?

They have setup themselves the trap that, for the second time in 10 years, is going to eat them.

Reminds me a movie : "don't fxxk with the markets" !

[Geppis72]

No worries - the baht will weaken. (one of these times I will be right!!!!)

Yes. Some day.

Right now, Thailand is the perfect weak link. Like the TV show.

China and Japan ? The scale.

And this is what Thailand doesn't have.

Other countries in SEA ? Philippines, Malaysia, Cambodia, Vietnam, Burma, Indonesia. No comment.

Thailand is in a better shape, more attractive. On a small scale. With a totally clue less "interim" gvt, that is sometimes more concerned by its "face" therefore who is making big mistakes, and a very specific political situation (military coup, attacks from Thaksin, the political necessity to be sweet vis a vis foreigners, etc.).

So it's the perfect target.

Add to this scheme the fact that USD is obviously on a downward trend... And for a long time.

So eventually, BOT will have to admit defeat.

I repeat : 1 month ago, USD = 35 THB, it was the end of the world. So now, at 34 ?

They have setup themselves the trap that, for the second time in 10 years, is going to eat them.

Reminds me a movie : "don't fxxk with the markets" !

This is just the beginning, we will have more fun in the next weeks or a month.

100% sure !!

Somebody remember what our wonder financial woman said ?

In long term you will see... in long term we will fix it.....

Somebody else during his speech yesterday to the foreign community

said similar things about long term results and transparency :

FBA changes ....

If they will go head with it, as it is, Big Big problems IN SHORT TIME.

TAT = Quality not quantity .... funny too =

Airport, we want talk about it ...

Visa, no comments...

Airport Imm. Officers... courtesy training course... in process...

Last step to let LOS collapse for real ? Land/house ownership

if they will touch even that the mess will be complete !

All type of foreign: tourist, businessman, landlord, owner of something

here will be touch = collapse

They will pay for all their mistakes, they do not even imagine how long

and how much.

Really sad to say also that at the end who will pay the final bill will be

the normal people not them, like everywhere in the world.

[Hugh Jarse]

Whatever marvels the BOT / unknown elements etc are doing is causing the baht to act like a nuclear powered rocket as it now stands the baht is at 67.03 to the pound and 34.05 to the dollar!!!

Can it get any stronger!!!?

Hope nobody lost out on this as have been advising Thai visa readers everyday for the past week ( to the extend that some readers complained) that the music is bound to stop anytime soon .

Dont be too downhearted until two minutes to eight tomorrow Friday morning as there were signs in the afternoon of the BOT coming in at 35.75. If they do, the baht should weaken. If they don't I'm afraid that 33 will be the next target for the speculators.