Baht is rising fast

[Nanaplaza666]

3 hours ago, davidst01 said:

Im unsure and thus asking.... if its rising does it mean its good for me if Im intending to convert some baht to euro and english pounds cash??

thanks

Only if you made your money here ,not if you changed euro's to baht few years ago , and now change back .

[White Christmas13]

15 minutes ago, EricTh said:

 

Now, 1 AUD can only get you 21 baht

maybe in Thailand but not in Australia

I was quoted 19.1 baht yesterday in Perth

[Stevemercer]

Most countries are trying to drag down their currencies to boost exports and keep a lid on imports (e.g. drive up the price of things brought from overseas so as to encourage domestic manufacturing).

 

Thailand is doing the opposite, presumably, to give a leg up to competing ASEAN countries, like Vietnam, Malaysia and Indonesia, and to help boost their economies.

 

Perhaps it also helps the Thai government buy new submarines and other military goods from overseas, thereby boosting the economies of those countries.

 

And it helps the common people of Thailand by allowing them to buy more imports, rather than made in Thailand products. Unless, of course, the Thai government erects tariff barriers against these imports to protect its own domestic products. Of course, no one but Thais will be able to buy these products because they will be too expensive for import due to the high Baht.

 

Expect China to continue to push its currency down presumably to counter American tarrifs. So maybe Chinese investment in Thailand will slow down.

 

So, yes, well done the Thai government for helping out its competitors.

Edited May 16, 2019 by Stevemercer

[Naam]

1 hour ago, Kurtf said:

Good. That means the dollar is sinking and gold is going up. ????

gold hasn't gained a single cent for the last FIVE YEARS.

 

[Mavideol]

20 hours ago, moe666 said:

If you are a US tax payer talk to Trump his new tariffs have caused the dollar to fall

yeah... MAGA currency manipulating to keep dollar low to increase US goods exports...funny thing China was doing the same and Trump called them currency manipulators... old saying, it's not me it's them

[Mavideol]

2 minutes ago, Naam said:

gold hasn't gained a single cent for the last FIVE YEARS.

 

thanks, told that to my wife (she's a gold investor freak) and she didn't believe me

[rascalman]

Fact America has been the whipping boy by many countries. Enough its over now. So we have to educate ourselves please. 

Trump is a great leader who has and continues to be beat up by no damn good democrats. 

[Naam]

3 minutes ago, rascalman said:

Fact America has been the whipping boy by many countries. Enough its over now. So we have to educate ourselves please. 

Trump is a great leader who has and continues to be beat up by no damn good democrats. 

[onera1961]

US treasury thinks Thailand is manipulating Baht to keep it week for export advantage. It's is already in Treasury departments' currency watch. Currency traders are speculating Baht will be around 25/USD in three years.

 

I don't know how a country can manipulate a free market currency like Baht to make it strong, unless they peg the currency to dollar. But there are ways to make it weak like buying dollars from the open market by printing its own currency. But Thailand does not have to do that because its coffers is full of foreign currency due to tourist revenues. 

Edited May 16, 2019 by onera1961

[yodsak]

13 hours ago, mshs said:

It's been rising since the floods of 2011.

 

 

 

[Jingjock]

18 hours ago, sanemax said:

Well done  to the Thai Nation , it people and  its economy , they all worked hard to make the Baht a strong currency .

  All the"not doing to well* Westerners who want to live like kings on a small income  will have to move to Pakistan or Turkey or somewhere  else

Great post INSANE Max

[theboogeyman]

“The Baht is the strongest Asian currency this year as reported by Bangkok Post today.“. Oh that’s definitely not true currently the strongest Asian currency is the Kuwaiti Dinar.  The Thai baht currently ranks number 20 out of the 48 countries in Asia.  So it’s actually not doing that well at all.  The USD Exchange Rate is still a little up and down but not that bad just not as good as it used to be.  I was surprised that the baht is doing better than the Japanese Yen which is unusual, so the baht is doing slightly better but best in Asia, no not even close far from it.  The fact that the baht currently ranks a little better than the Japanese Yen right now tells me just how temporary the baht’s minor success really is.  

 

And by the way the Chinese Yuan ranks number 14 above the Thai baht which currently ranks only 20 in Asian currencies.  

 

Basically the baht is having a little bit of success but it’s grossly over exaggerated the Thai baht ranks number 20 out of the 48 Asian countries.  

[Bkkjimbo]

What the last guy said. Looking at Thai baht every day versus GBP and it is erratic. BTW 12 victory versus Superrich-12 victory is the real deal. Take note.

[kevin612]

Every rate is a good rate without a lady

[theboogeyman]

Actually the current Exchange Rate was 31.56 baht to the USD but apparently it just bounced back up to 32 again. The Exchange Rate is supposed to be doing a lot better this year and it’s looking like it will either do better or stay about the same. The baht to USD Exchange Rate still has very optimistic projections.

 

Although whenever I’m at the bank once a month I always look back at the Exchange Rate board and the Eros and the USD are always doing the best. Whenever I read that world currency exchange rate board at the bank I always just thank God that my money is not the Australian Dollar or the British Pound.

 

 

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[BestB]

19 hours ago, sanemax said:

Well done  to the Thai Nation , it people and  its economy , they all worked hard to make the Baht a strong currency .

  All the"not doing to well* Westerners who want to live like kings on a small income  will have to move to Pakistan or Turkey or somewhere  else

Were you not the one crying about paying 100 baht for a beer in a gogo bar not too long ago?????

[theboogeyman]

Were you not the one crying about paying 100 baht for a beer in a gogo bar not too long ago?[emoji848]

WHAT!!! Who paid 100 baht for a beer in a go go bar? I believe go go bars are mostly just in Bangkok. I pay less than 100 baht for my favorite kinds of imported beer here in Korat. 120 baht max depending on the restaurant if it’s Corona, Guinness, and a few other kinds. 80 baht for a Beer Lao if I remember right. Although there is one fancier place that I remember was charging 200 baht just for a Corona I don’t know if that’s still the same because we haven’t been back there for a while. Right now I’m down with the flu or influenza so I don’t even want to think about anything else except water.


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[david555]

1 hour ago, Mavideol said:

thanks, told that to my wife (she's a gold investor freak) and she didn't believe me

in 2009 I paid 13800 baht for a 1 baht gold chain , today price for 1 baht gold is 19400 baht, show me your wife is  not right ,... explain me ? 

I think more you try to deceive her , so you don't have to buy more for her ….

Edited May 16, 2019 by david555

[Captain 776]

23 hours ago, moe666 said:

If you are a US tax payer talk to Trump his new tariffs have caused the dollar to fall

This set my B S meter into the RED zone.

The highest the Stock Market has been in HISTORY.......not in the 2 yrs of his Presidency.......in HISTORY.

Highest other economic and employment numbers in 50 yrs.

 

I am sure your home country is significantly worse.

Edited May 16, 2019 by Captain 776
Addition

[Captain 776]

31.58 right now against USD.........EXPLAIN how that relates to rising fast

[theboogeyman]

31.58 right now against USD.........EXPLAIN how that relates to rising fast

Well that’s actually the point it’s not actually rising fast. The baht ranks 20th in all of Asia lol.


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[theboogeyman]

31.58 right now against USD.........EXPLAIN how that relates to rising fast

In fact it hasn’t really budged in the last few years at all except to decline a little bit once in a while. Bottom line the OP is wrong period. I just didn’t want to be so blunt about it.


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[theboogeyman]

It’s actually staying about the same and it declines a little bit once in a while honestly no the baht isn’t rising fast in fact it’s not really going anywhere. It’s risen a little bit over the last 10 years I guess you could say that lol.


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[JaiLai]

8 hours ago, makecoldplayhistory said:

It's not bad news if you're earning baht. Pretty good, really. 

only good if you're moving it out the country.

[sandrabbit]

what none of you have mentioned is about how much the elite make from a strong baht sending money abroad, car companies etc are complaining but have you seen the central bank trying to control the rate? 

it's deliberate, imagine how much money the rich elite are making transferring abroad for the future?

Edited May 16, 2019 by sandrabbit

[ericthai]

17 hours ago, mshs said:

It's been rising since the floods of 2011.

 

- Nature attempts to claim back the farmlands bringing silt and gooey-glop to the auto-plants.  Royal Thai govt. extends tax-holiday and other subsidies in an effort to restart the auto-plants.

- At about the same time, Kiwi dollar commences it's lower-rates cycle. (Currently, Kiwi rates on par with Aussie and lower than Looney and the Greenback.)

 

In response to the above 2, Japanese money-centers switch from +Kiwi /-Yen to +THB/-JPY.

A strengthening THB attracts the weaker Euros, Brexiters into Thai "property" or THB strengthening the THB further.

 

Looks like the THB is very tightly wound.  And could stay wound for a very long time, perhaps a decade from here.

Or it could unwind tomorrow, suddenly like it did in 1997 when lacking foreign reserves to support the peg (25 to the dollar), the THB was floated, bringing Hedge-Funds into the picture, driving down the THB to 56 to the dollar in 6 months.

Those were the days!

[Lancelot01]

18 hours ago, mshs said:

It's been rising since the floods of 2011.

 

- Nature attempts to claim back the farmlands bringing silt and gooey-glop to the auto-plants.  Royal Thai govt. extends tax-holiday and other subsidies in an effort to restart the auto-plants.

- At about the same time, Kiwi dollar commences it's lower-rates cycle. (Currently, Kiwi rates on par with Aussie and lower than Looney and the Greenback.)

 

In response to the above 2, Japanese money-centers switch from +Kiwi /-Yen to +THB/-JPY.

A strengthening THB attracts the weaker Euros, Brexiters into Thai "property" or THB strengthening the THB further.

 

Looks like the THB is very tightly wound.  And could stay wound for a very long time, perhaps a decade from here.

Or it could unwind tomorrow, suddenly like it did in 1997 when lacking foreign reserves to support the peg (25 to the dollar), the THB was floated, bringing Hedge-Funds into the picture, driving down the THB to 56 to the dollar in 6 months.

Hedge your bets?

[Naam]

5 hours ago, Mavideol said:

thanks, told that to my wife (she's a gold investor freak) and she didn't believe me

why should she believe you? our wives know <deleted> everything better than we do.

[jmd8800]

On 5/15/2019 at 10:01 PM, donnacha said:

Terrific idea. Do you have his phone number?

You might be able to catch him at a McDonald's Drive Thru

[Naam]

46 minutes ago, sandrabbit said:

what none of you have mentioned is about how much the elite make from a strong baht sending money abroad, car companies etc are complaining but have you seen the central bank trying to control the rate? 

it's deliberate, imagine how much money the rich elite are making transferring abroad for the future?

your insight seems to indicate that you belong to this elite. or are you just rehashing barstool fairytales heard from envious poor Farangs?