Strong baht sends jitters through Thai export sector

[billd766]

2 hours ago, fulhamster said:

Caption competition ....

 

caption

 

Would you buy a used car from any of those three men?

[happy chappie]

12 hours ago, HeyHeyHey said:

And yet the cost in THB of imported goods never went down.

Yes i agree the importers have been raking it in with the baht buying power and there is no chance of the saving being passed on to the customers.

[Deerculler]

That is no good if what is imported is too expensive.
No logic in that.


Sent from my iPhone using Thaivisa Connect

[Isaan sailor]

Congratulations, Thailand. You now have the most overpriced currency in SE Asia (if not the entire planet).

[madmen]

11 minutes ago, Isaan sailor said:

Congratulations, Thailand. You now have the most overpriced currency in SE Asia (if not the entire planet).

Great for us that sold up and transferred cash to a thai bank regardless of the thousands of posts saying never even bring 1 baht into a thai bank and leave money at home where its safe ????. None of those bar stool wiz kids have admitted they got it wrong..funny that . I love TV !

Edited June 29, 2019 by madmen

[zydeco]

4 hours ago, fulhamster said:

Caption competition ....

 

Which one spilled something on his crotch?

[Cake Monster]

22 hours ago, Lenny Jones said:

Making noise at a G20 and talking "world economy" stuff?

 

Thailand is NOT a big fish in that game.  It needs to devalue the baht to get it's import/export balance correct.

And its protectionism Policy.

[mommysboy]

4 hours ago, RichardColeman said:

Maybe I'm just a daft old codger these days, but if your goods are too expensive due to the high baht, if you have built in profit margins why don't you just drop your prices for a short time to cope with currency fluctuation. Sure better to make some money and stay afloat than lose everything.

Margins are already very tight perhaps.

[marcusarelus]

2 hours ago, Isaan sailor said:

Congratulations, Thailand. You now have the most overpriced currency in SE Asia (if not the entire planet).

UK and USA and Australia are determining the price of the baht why not complain to them.  1.  Tell the UK to forget about Brexit and the USA to find another Pres who knows something about economics and Australia to stop messing with China.  Baht goes down in a NY minute.  

[Nowisee]

5 hours ago, RichardColeman said:

Maybe I'm just a daft old codger these days, but if your goods are too expensive due to the high baht, if you have built in profit margins why don't you just drop your prices for a short time to cope with currency fluctuation. Sure better to make some money and stay afloat than lose everything.

The general practice here seems to be raise prices, lower quality, scam, treat customer poorly or otherwise do everything you possibly can to shutter your business.  

[happy chappie]

4 hours ago, madmen said:

Great for us that sold up and transferred cash to a thai bank regardless of the thousands of posts saying never even bring 1 baht into a thai bank and leave money at home where its safe ????. None of those bar stool wiz kids have admitted they got it wrong..funny that . I love TV !

Yes it's only good if your selling up and going back to the likes of the uk.i sold up and got out on brexit day and averaged 52.5b in my hand but I don't think I'm lucky or done the right thing.

 

 

[Number 6]

Exchange rate should be 35.75

 

Developers and government get to import materials and infrastructure needs cheaper, the 1% get to export their ill gotten gains.

 

Lower the prime rate duh. Print some cash and spend it on infrastructure. Duh.

 

[Number 6]

4 hours ago, madmen said:

Great for us that sold up and transferred cash to a thai bank regardless of the thousands of posts saying never even bring 1 baht into a thai bank and leave money at home where its safe ????. None of those bar stool wiz kids have admitted they got it wrong..funny that . I love TV !

It might be great, but it's just dumb luck. There is absolutely no reason why the currency should be this strong other than manipulation.

 

I've been expecting 1997 for years. It will come. This economy is a house of cards.

[marcusarelus]

4 hours ago, madmen said:

Great for us that sold up and transferred cash to a thai bank regardless of the thousands of posts saying never even bring 1 baht into a thai bank and leave money at home where its safe ????. None of those bar stool wiz kids have admitted they got it wrong..funny that . I love TV !

I was so happy to get my cash out.  There were 4 hurricanes that year blowing through where my house was.  I put the money from the sale in to an Aussie/NZ bank in Singapore then they told me they didn't want an American so I moved it to Thailand.  The timing was driven by the Singapore bank and the American regs taking place many years ago and the rise in value of the Aussie dollar.  I never read Thai Visa back then so I didn't know what a grave error I was making by bringing money into Thailand at 50 baht for the dollar.  Funny - you don't hear them saying how wrong they were, do you?  

 

Now you'd think since we were right - big time- and they were wrong - big time - that they'd ask us what to do now.  But I have never been asked, have you?  

Edited June 29, 2019 by marcusarelus

[kickstart]

On ‎6‎/‎28‎/‎2019 at 1:17 PM, Pilotman said:

sell its reserves 

 What reserves ? where has the money come from for all the new roads ,the big extension of the BTS, high speed trains ,and subs and tanks, etc. 

 Can you  say all this money has come Thai taxes and investments, I think the reserve pot is almost empty. 

This government is a junta ,ex military men ,not economists ,history has shown that military governments can not manage a economy ,only good at spending money .which this lot are doing.

Any one got the IMF phone number ?. 

[elliss]

13 hours ago, RobboR said:

I'd love it just love it if there was a massive collapse and we could go back to the halcyon days of 65 baht to a pound.

 

65/66 was a nice figure, it meant each 1000 baht was 15 quid. Nice and easy!!

 

       Dream on , i will have a large one , of whatever you are on , your bin. 555

       We are going to die poor farang , where is my darling gone , to the village?. 

 

 

Edited June 29, 2019 by elliss
spelling

[mommysboy]

4 hours ago, marcusarelus said:

I was so happy to get my cash out.  There were 4 hurricanes that year blowing through where my house was.  I put the money from the sale in to an Aussie/NZ bank in Singapore then they told me they didn't want an American so I moved it to Thailand.  The timing was driven by the Singapore bank and the American regs taking place many years ago and the rise in value of the Aussie dollar.  I never read Thai Visa back then so I didn't know what a grave error I was making by bringing money into Thailand at 50 baht for the dollar.  Funny - you don't hear them saying how wrong they were, do you?  

 

Now you'd think since we were right - big time- and they were wrong - big time - that they'd ask us what to do now.  But I have never been asked, have you?  

I brought the bulk of my meagre funds over at a very favourable rate but that was just a matter luck and circumstance.  I really don't know what the rate will look like in 5 or 10 year's time.

[daveAustin]

14 hours ago, lamyai3 said:

Asda has imported Singha at £2 per large bottle, or £6 for four. At £1.50 (58 baht) per large bottle, this is now pushing 10% cheaper than the local supermarket prices in Thailand. 

Unfortunately it's not 10% less shiite!

[daveAustin]

14 hours ago, RobboR said:

I'd love it just love it if there was a massive collapse and we could go back to the halcyon days of 65 baht to a pound.

 

65/66 was a nice figure, it meant each 1000 baht was 15 quid. Nice and easy!!

I was there @ mid-70s GBP/THB, not long after it was up to around 92, while everything was much cheaper again... a beer was about 30-40 baht (some may remember the 3-Changs-B100 gig). With inflation/currency fluctuations, Thighland is probably 4x the price it was in the '90s and a lot less fun... no daft curbs on drinking hours and buying booze times back then.

[Assurancetourix]

8 hours ago, kickstart said:

 What reserves ? where has the money come from for all the new roads ,the big extension of the BTS, high speed trains ,and subs and tanks, etc. 

 Can you  say all this money has come Thai taxes and investments, I think the reserve pot is almost empty. 

This government is a junta ,ex military men ,not economists ,history has shown that military governments can not manage a economy ,only good at spending money .which this lot are doing.

Any one got the IMF phone number ?. 

true socialists or even communists;
give me your watch, I'll give you the time 

 

They have already succeeded in the past to be bankrupt - twice! - to the Military Thai Bank by confusing their pockets with the bank's case .

 

No reason they do not continue on this constructive thrust

[Pilotman]

10 hours ago, kickstart said:

 What reserves ? where has the money come from for all the new roads ,the big extension of the BTS, high speed trains ,and subs and tanks, etc. 

 Can you  say all this money has come Thai taxes and investments, I think the reserve pot is almost empty. 

This government is a junta ,ex military men ,not economists ,history has shown that military governments can not manage a economy ,only good at spending money .which this lot are doing.

Any one got the IMF phone number ?. 

you  misunderstand, quantitative easing means the BoT printing more baht to buy dollars.  Just as the UK and EU has done in past years following the 2008 financial crisis.  The National Debt, which you refer to in major projects, does not in itself impact the act of easing the currency, the US proves that fact. 

Edited June 30, 2019 by Pilotman

[morrobay]

11 hours ago, kickstart said:

 What reserves ? where has the money come from for all the new roads ,the big extension of the BTS, high speed trains ,and subs and tanks, etc. 

 Can you  say all this money has come Thai taxes and investments, I think the reserve pot is almost empty. 

This government is a junta ,ex military men ,not economists ,history has shown that military governments can not manage a economy ,only good at spending money .which this lot are doing.

Any one got the IMF phone number ?. 

So are you questioning the $200+ billions in the reported foreign currency reserves? That would be a drastic reduction. Can you/anyone verify this with tangible facts? 

[watcharacters]

9 hours ago, mommysboy said:

I brought the bulk of my meagre funds over at a very favourable rate but that was just a matter luck and circumstance.  I really don't know what the rate will look like in 5 or 10 year's time.

"  I really don't know what the rate will look like in 5 or 10 year's time."

 

No mere mortal does know..!

[Uptooyoo]

A strong baht will actually increase exports in one category: Farang retirees. 

Edited June 30, 2019 by Uptooyoo

[Uptooyoo]

16 hours ago, marcusarelus said:

UK and USA and Australia are determining the price of the baht why not complain to them.  1.  Tell the UK to forget about Brexit and the USA to find another Pres who knows something about economics and Australia to stop messing with China.  Baht goes down in a NY minute.  

The Thai baht's overvaluation and its effect on old retirees in Thailand doesn't even register on the list of global economic concerns. Unfortunately for us, when big global economic players make multilateral agreements, the effect on Thailand is of little concern. We're not the tail that wags the dog.

Edited June 30, 2019 by Uptooyoo

[dallen52]

The whole balance of trade issue does not seem to be well analyzed by the Thai grownups. 

Multinational companies thinkabout investing in Thailand production facilities with a long term vision, encompassing domestic and export markets.

Normally based on 2 shifts and 100 hours a week production. 

And employment opportunities for thousands of local people. 

 

I've been involved in $1 billion plus programmes here, and the current state of the baht is not good news.

They may get the land for the site at a peppercorn agreement price, but it's the facility and equipment investments and ROI that is presently being eroded by the weak domestic take rates coupled with the poor price achievement of export products. 

 

A 500,000 baht vehicle was £10,000 two years ago. 

To buy from Thailand 

Today the same vehicle would be £13,200 ... 

 

Start applying this to everything else made here and the poor tourism fades into insignificance.