webfact Posted March 4, 2019 Share Posted March 4, 2019 Thai central bank says it has acted on rapid moves in baht FILE PHOTO: The Bank of Thailand logo is pictured in Bangkok, Thailand, August 5, 2016. REUTERS/Chaiwat Subprasom BANGKOK (Reuters) - Thailand's baht is likely to remain volatile and the central bank has taken action on excessive moves in the currency to help the private sector adjust, the central bank said on Monday. The baht's strength is mainly due to a weak dollar and Thailand's current account surplus, but its price moves are in line with the currencies of emerging markets, Assistant Governor Vachira Arromdee said in a statement. "In certain periods when the baht's rise is fast and not in line with economic fundamentals, the central bank has closely taken care of it," she said. The baht traded at 31.80 per dollar at 0830 GMT, its lowest in almost six weeks. But it has still strengthened 2.4 percent this year, making it the second-best performing currency in Asia after the Chinese yuan. The baht hit a five-year high against the dollar on Feb. 20. Vachira said after a meeting with a shipping group that a slowdown in Thailand's exports has been caused by external factors amid concerns about a trade war, while there has only been a small impact on shipments from currency fluctuations. The private sector should hedge against currency risks, she added. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Jacqueline Wong) -- © Copyright Reuters 2019-03-05 Link to comment Share on other sites More sharing options...
Popular Post smedly Posted March 4, 2019 Popular Post Share Posted March 4, 2019 the baht is trading to suit certain people and companies who are moving and investing money overseas at the cost of exports and tourism 35 2 5 3 Link to comment Share on other sites More sharing options...
Popular Post sungod Posted March 4, 2019 Popular Post Share Posted March 4, 2019 'The baht hit a five-year high against the dollar on Feb. 20. ' Dont understand this part, looking at XE.com historical data I saw that it was it highest over 5 years in mid 2015 (36.4), in Feb it was 31.87. I would have thought Reuters would be more accurate, or am I missing something here? 2 5 1 2 Link to comment Share on other sites More sharing options...
Popular Post Sophon Posted March 5, 2019 Popular Post Share Posted March 5, 2019 1 hour ago, sungod said: 'The baht hit a five-year high against the dollar on Feb. 20. ' Dont understand this part, looking at XE.com historical data I saw that it was it highest over 5 years in mid 2015 (36.4), in Feb it was 31.87. I would have thought Reuters would be more accurate, or am I missing something here? Yes, you are looking at it the wrong way round. When the Baht is strong you get fewer THB for your USD, so the point in 2015 you refer to when the USD got you 36.4 THB/USD would be the point where the THB was at a five year low against the USD. Sophon 23 11 Link to comment Share on other sites More sharing options...
Popular Post PoorSucker Posted March 5, 2019 Popular Post Share Posted March 5, 2019 1 hour ago, sungod said: 'The baht hit a five-year high against the dollar on Feb. 20. ' Dont understand this part, looking at XE.com historical data I saw that it was it highest over 5 years in mid 2015 (36.4), in Feb it was 31.87. I would have thought Reuters would be more accurate, or am I missing something here? You got 36.4 baht for a dollar in 2015. Now you get 31.8 baht for a dollar. Dollar has gone down 4.6 baht / 12.6% compared to the baht. 6 3 Link to comment Share on other sites More sharing options...
Popular Post AhFarangJa Posted March 5, 2019 Popular Post Share Posted March 5, 2019 3 hours ago, smedly said: the baht is trading to suit certain people and companies who are moving and investing money overseas at the cost of exports and tourism Spot on Smedley. I have friends in the markets in U.K. who tell me they will not touch the Baht until it goes back to where it should be, which, apparently is around 65 to a pound....... 4 1 1 19 Link to comment Share on other sites More sharing options...
Popular Post Antonymous Posted March 5, 2019 Popular Post Share Posted March 5, 2019 4 hours ago, smedly said: the baht is trading to suit certain people and companies who are moving and investing money overseas at the cost of exports and tourism The opportunity has been there for any of us to take advantage of the strong baht, whether buying stuff from overseas with baht or investing overseas. I certainly did. I bought GBP investments recently with THB when the rate hit 41 in anticipation of the pound strengthening soon. It fell to 40 three weeks ago, but today the rate is 42+. My expectation is that it will continue to rise. 2 2 Link to comment Share on other sites More sharing options...
Popular Post mikebell Posted March 5, 2019 Popular Post Share Posted March 5, 2019 5 hours ago, webfact said: Thailand's current account surplus, This will swell further with the new Immigration demands? 2 3 Link to comment Share on other sites More sharing options...
Popular Post JAG Posted March 5, 2019 Popular Post Share Posted March 5, 2019 (edited) 1 hour ago, AhFarangJa said: Spot on Smedley. I have friends in the markets in U.K. who tell me they will not touch the Baht until it goes back to where it should be, which, apparently is around 65 to a pound....... Hmm, that would mean a 40+% rise in the cost of the school fees, university fees and the property in the West End! There are some jolly influential people who won't like that. Let's face it, if your son and heir is having to reside in London for the time being, until a little contretemps over a traffic accident is resolved, then the cost of maintaining him (and his "court") needs to be considered. A word in the right ears here and there... I'm sure that is only one example - there will be enough others. I believe that there is quite a community of free spending well funded young Thais in the UK. Edited March 5, 2019 by JAG 12 1 Link to comment Share on other sites More sharing options...
miamiman123 Posted March 5, 2019 Share Posted March 5, 2019 Somebody is manipulating the baht...those vacations, expensive USA cars and university fees are soooo high we gotta do something... hehehe 1 1 Link to comment Share on other sites More sharing options...
Popular Post DPKANKAN Posted March 5, 2019 Popular Post Share Posted March 5, 2019 1 hour ago, AhFarangJa said: Spot on Smedley. I have friends in the markets in U.K. who tell me they will not touch the Baht until it goes back to where it should be, which, apparently is around 65 to a pound....... Please tell them to help it go there quickly somehow...???????????????? 4 2 Link to comment Share on other sites More sharing options...
hotchilli Posted March 5, 2019 Share Posted March 5, 2019 1 hour ago, AhFarangJa said: Spot on Smedley. I have friends in the markets in U.K. who tell me they will not touch the Baht until it goes back to where it should be, which, apparently is around 65 to a pound....... I first visited Thailand in 2001/2002 then it was 65 baht to the British pound (GBP) When I moved here in 2008 it was 55 baht to GBP Now it's somewhere in the very low 40's... 45 baht if I'm lucky !! Link to comment Share on other sites More sharing options...
DPKANKAN Posted March 5, 2019 Share Posted March 5, 2019 (edited) 36 minutes ago, mikebell said: This will swell further with the new Immigration demands? Their only surplus is in tanks, air craft carriers and submarines etc.!! 555 Edited March 5, 2019 by DPKANKAN Spelling 1 Link to comment Share on other sites More sharing options...
Srikcir Posted March 5, 2019 Share Posted March 5, 2019 2 hours ago, PoorSucker said: Dollar has gone down 4.6 baht / 12.6% compared to the baht Or put another way. That Bt800,000 you have in a Thai savings account for your visa lost 12.6% value in USD. 1 2 Link to comment Share on other sites More sharing options...
Popular Post Guderian Posted March 5, 2019 Popular Post Share Posted March 5, 2019 2 hours ago, AhFarangJa said: Spot on Smedley. I have friends in the markets in U.K. who tell me they will not touch the Baht until it goes back to where it should be, which, apparently is around 65 to a pound....... In other words, they will never touch the Baht again. 1 3 Link to comment Share on other sites More sharing options...
smedly Posted March 5, 2019 Share Posted March 5, 2019 1 hour ago, Antonymous said: The opportunity has been there for any of us to take advantage of the strong baht, whether buying stuff from overseas with baht or investing overseas. I certainly did. I bought GBP investments recently with THB when the rate hit 41 in anticipation of the pound strengthening soon. It fell to 40 three weeks ago, but today the rate is 42+. My expectation is that it will continue to rise. I used to hold my money in baht - I now have a sterling account - it takes me 2mins to move money from one to the other, original exchange rate was 54baht - moved back into sterling at 42baht 1 Link to comment Share on other sites More sharing options...
Popular Post whaleboneman Posted March 5, 2019 Popular Post Share Posted March 5, 2019 18 minutes ago, Srikcir said: Or put another way. That Bt800,000 you have in a Thai savings account for your visa lost 12.6% value in USD. Other way around. 1 2 Link to comment Share on other sites More sharing options...
smedly Posted March 5, 2019 Share Posted March 5, 2019 2 hours ago, AhFarangJa said: Spot on Smedley. I have friends in the markets in U.K. who tell me they will not touch the Baht until it goes back to where it should be, which, apparently is around 65 to a pound....... current price should be about 45-47 once the uncertainty over Brexit is removed, depending on other normal factors sterling could reach 50 against the baht and 145 to USD, I see no upside in the Euro - in fact it could well have a melt down as the EU implodes Link to comment Share on other sites More sharing options...
Baerboxer Posted March 5, 2019 Share Posted March 5, 2019 1 hour ago, JAG said: Hmm, that would mean a 40+% rise in the cost of the school fees, university fees and the property in the West End! There are some jolly influential people who won't like that. Let's face it, if your son and heir is having to reside in London for the time being, until a little contretemps over a traffic accident is resolved, then the cost of maintaining him (and his "court") needs to be considered. A word in the right ears here and there... I'm sure that is only one example - there will be enough others. I believe that there is quite a community of free spending well funded young Thais in the UK. I think you have a point about a cadre of influential elites who might want to influence (and always have) exchange rates to take advantage. But I doubt your example. More than enough in foreign currency earnings to maintain substantial investments in various currencies to hedge against forex movements. Link to comment Share on other sites More sharing options...
Baerboxer Posted March 5, 2019 Share Posted March 5, 2019 (edited) 13 minutes ago, smedly said: current price should be about 45-47 once the uncertainty over Brexit is removed, depending on other normal factors sterling could reach 50 against the baht and 145 to USD, I see no upside in the Euro - in fact it could well have a melt down as the EU implodes Not if Britain crashes out of the EU with no deal! Then expect the pound to plummet. If you look at the pound baht, over the last several years, the pound as been weakening linearly. I keep a record of all my currency changes from 2004 time. The pound has gone down over the years from 71 to around 40 at the moment. Even without Brexit is was on a downward trend. The decline would be less steep without Brexit but still downward. Most Banks were saying the 1.45-1.50 pound to dollar was too high pre Brexit and suggesting the range 1.20-1.25 was more realistic. But the markets don't do what the Banks think! So who knows? Edited March 5, 2019 by Baerboxer 1 Link to comment Share on other sites More sharing options...
Eric Loh Posted March 5, 2019 Share Posted March 5, 2019 3 minutes ago, Baerboxer said: Not if Britain crashes out of the EU with no deal! Then expect the pound to plummet. The consolation being a boon to the manufacturers and a swing from dependence on its financial services. Link to comment Share on other sites More sharing options...
Guest Posted March 5, 2019 Share Posted March 5, 2019 4 hours ago, sungod said: 'The baht hit a five-year high against the dollar on Feb. 20. ' Dont understand this part, looking at XE.com historical data I saw that it was it highest over 5 years in mid 2015 (36.4), in Feb it was 31.87. I would have thought Reuters would be more accurate, or am I missing something here? the 36.4 is the dollar being high and the baht lower i think Link to comment Share on other sites More sharing options...
Sandman77 Posted March 5, 2019 Share Posted March 5, 2019 And how bot will weaken the baht now ? What option the have? In 2004 when I was first time here 1500€ was enough a month for 2 people living a good life!Now i need between 3000 and 3500€ a month espassaly in the south and islands ! I not belive anything about the retirement international fakes statistics thailand is now to expensive for all !Gesendet von iPhone mit Thaivisa Connect 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted March 5, 2019 Share Posted March 5, 2019 Must be buying tanks from china in US dollars ! Link to comment Share on other sites More sharing options...
JAG Posted March 5, 2019 Share Posted March 5, 2019 1 hour ago, Baerboxer said: I think you have a point about a cadre of influential elites who might want to influence (and always have) exchange rates to take advantage. But I doubt your example. More than enough in foreign currency earnings to maintain substantial investments in various currencies to hedge against forex movements. Yes, to blame the Red Bull fellow is probably an exaggeration. That said, in the "Alice in Wonderland" world in which the most influential echelons in this country live, such behaviour (on the part of all of all of them) is both likely and credible! Link to comment Share on other sites More sharing options...
bizboi Posted March 5, 2019 Share Posted March 5, 2019 ..."Its all the fault of those pesky e-cigarettes " said Big J when asked what he was going to do about a strong baht!! Link to comment Share on other sites More sharing options...
geoffrobbo Posted March 5, 2019 Share Posted March 5, 2019 8 hours ago, smedly said: the baht is trading to suit certain people and companies who are moving and investing money overseas at the cost of exports and tourism A strong Baht is very useful if you want to buy expensive imported items. For example, submarines, tanks, warplanes, weapons etc. 1 1 Link to comment Share on other sites More sharing options...
stud858 Posted March 5, 2019 Share Posted March 5, 2019 Tons and tons of foreign currency wants to be Thai. I can only imagine it's coming from mega rich outside sources thinking that Thailand will be a pretty neat place in a little while. Link to comment Share on other sites More sharing options...
smedly Posted March 5, 2019 Share Posted March 5, 2019 1 hour ago, geoffrobbo said: A strong Baht is very useful if you want to buy expensive imported items. For example, submarines, tanks, warplanes, weapons etc. or an EPL Football team 1 Link to comment Share on other sites More sharing options...
hobobo Posted March 5, 2019 Share Posted March 5, 2019 4 hours ago, hotchilli said: I first visited Thailand in 2001/2002 then it was 65 baht to the British pound (GBP) When I moved here in 2008 it was 55 baht to GBP Now it's somewhere in the very low 40's... 45 baht if I'm lucky !! My daughter came to visit me in July 2008 and commented on how well the Pound was doing. On 15 July it was 67.114 THB to 1 GBP, https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-THB-2008 Link to comment Share on other sites More sharing options...
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