BOT holds off on short-term bonds due to a stronger baht

[snoop1130]

BOT holds off on short-term bonds due to a stronger baht

By The Nation

 

 

The Bank of Thailand (BOT) is cutting down on the issuance of short-term bonds at a time when the value of the baht is at its strongest in six years, closing at Bt30.52 against the US dollar on Monday, the Kasikorn Research Centre reported on Monday.

 

Kasikorn said the BOT report on June 28 showed that it was reducing the issuance of short-term bonds, though the central bank has not yet made an official announcement. 

 

“The BOT had taken similar actions in the year 2017. This is a means of reducing capital inflows into the country,” the research centre said.

 

Source: http://www.nationmultimedia.com/detail/business/30372082

 

-- © Copyright The Nation 2019-07-01

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[Mavideol]

4 minutes ago, snoop1130 said:

“The BOT had taken similar actions in the year 2017. This is a means of reducing capital inflows into the country,” the research centre said.

you bet, if they don't do so, the chinese will buy everything

[Naam]

56 minutes ago, Mavideol said:

1 hour ago, snoop1130 said:

“The BOT had taken similar actions in the year 2017. This is a means of reducing capital inflows into the country,” the research centre said.

you bet, if they don't do so, the chinese will buy everything

the reduced issuance of short term bonds has no impact on Chinese buying of any other Thai assets.

[Mel52]

Good, I hope they keep up the currency manipulation because eventually if they keep it up long enough the Thai economy will collapse AGAIN and the US dollar will skyrocket. The USD isn’t even doing that bad right now it’s doing ok just not as good as it was ten years ago. If you look closely at all the exchange rates in Thailand it doesn’t take an expert economist to see what’s going on. Even the United States Treasury Department has been slapping them on the hand for currency manipulation. It’s been going on for years apparently but I hope it doesn’t hurt economic relations with the states because those of us who live here from abroad have to use their banks and transfer money into their banks. I’m using the IDD system now through the US Treasury Department for my monthly pension payments to my Thai bank account and that’s a damn good system so I hope all the corruption and currency manipulation doesn’t mess that up. If you look at outside OFFICIAL sources abroad online the baht is no where near as strong as they claim it is. Clearly someone has been fudging the numbers if you look at the big picture.

 

 

 

 

[Mel52]

I hear there has been currency manipulation in the European Union as well supposedly but I wasn’t able to verify that for sure but regardless it most certainly is not a stronger baht by any means just wait and see what happens it might take a few years but you’ll see

 

 

 

 

[marcusarelus]

5 minutes ago, Mel52 said:

Good, I hope they keep up the currency manipulation because eventually if they keep it up long enough the Thai economy will collapse AGAIN and the US dollar will skyrocket. The USD isn’t even doing that bad right now it’s doing ok just not as good as it was ten years ago. If you look closely at all the exchange rates in Thailand it doesn’t take an expert economist to see what’s going on. Even the United States Treasury Department has been slapping them on the hand for currency manipulation. It’s been going on for years apparently but I hope it doesn’t hurt economic relations with the states because those of us who live here from abroad have to use their banks and transfer money into their banks. I’m using the IDD system now through the US Treasury Department for my monthly pension payments to my Thai bank account and that’s a damn good system so I hope all the corruption and currency manipulation doesn’t mess that up. If you look at outside OFFICIAL sources abroad online the baht is no where near as strong as they claim it is. Clearly someone has been fudging the numbers if you look at the big picture.

What is the Thai government doing to manipulate currency and what sources say the Thai baht is not strong?  

[Mel52]

What is the Thai government doing to manipulate currency and what sources say the Thai baht is not strong?  

Look it up as a teacher of mine used to say

[marcusarelus]

2 minutes ago, Mel52 said:

Look it up as a teacher of mine used to say

I did.  You are wrong.  The Thai government is incapable of manipulating currency.  If they could the Asian Contagion would not have happened in 1997. 

[Mel52]

I did.  You are wrong.  The Thai government is incapable of manipulating currency.  If they could the Asian Contagion would not have happened in 1997. 

Whatever you say

[Mel52]

I did.  You are wrong.  The Thai government is incapable of manipulating currency.  If they could the Asian Contagion would not have happened in 1997. 

I gotta hand it to you that was some damn fast research you did lol [emoji23][emoji23]

[NCC1701A]

9 minutes ago, marcusarelus said:

I did.  You are wrong.  The Thai government is incapable of manipulating currency.  If they could the Asian Contagion would not have happened in 1997. 

it's not 1997 anymore. the Thais learned their lesson and will never let a Farang (the filth George Soros) crash their economy. 

Edited July 1, 2019 by NCC1701A

[marcusarelus]

14 minutes ago, NCC1701A said:

it's not 1997 anymore. the Thais learned their lesson and will never let a Farang (the filth George Soros) crash their economy. 

The point was they could not then and can't now manipulate their currency.  

[marcusarelus]

20 minutes ago, Mel52 said:

I gotta hand it to you that was some damn fast research you did lol

Not difficult as Thais cannot manipulate currency.  If they could the baht would not be so high.

 

Google, Our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said.  

[Mel52]

Not difficult as Thais cannot manipulate currency.  If they could the baht would not be so high.   Google, Our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said.  

 

 

Well, you might need VPN to look up the “real news” and data because of censorship laws here unfortunately but I’m definitely not wrong. They do not like airing their dirty laundry in this country. I’ve read a few bs articles on here about the so called “strong baht” lol but the information is coming from the local media. It’s the government and it does happen do some research on it

 

[Mel52]

Not difficult as Thais cannot manipulate currency.  If they could the baht would not be so high.
 
Google, Our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said.  

Wait a second “Thais cannot manipulate currency.  If they could the baht would not be so high.” That’s why it appears to be so high that’s the purpose of currency manipulation to fudge the numbers and cheat the system. It’s been going on for years. Lots of governments do it but it may eventually lead to their economy crashing if they over do it. Google currency manipulation in Thailand as well as treasury department and maybe use a good VPN service when you do, the information is out there I can find it without VPN probably because of how I have my device configured. Bottom line the information about currency manipulation is a matter of public record. You don’t have to be an expert economist to figure it out if you keep track of the exchange rates here alone.

[Mel52]

it's not 1997 anymore. the Thais learned their lesson and will never let a Farang (the filth George Soros) crash their economy. 

I believe the exchange rate in 97 for the USD was a record high if I remember right from my research and it was a record low back in 1981. The last time the USD dropped seriously low here was back in 1981 I believe during the stock market crash if I recall correctly from my own research. Regardless currency manipulation is happening all over the world it’s a fact and the point of it is to make their currency stronger.

[Mel52]

Not difficult as Thais cannot manipulate currency.  If they could the baht would not be so high.

 

Google, Our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said.  

Currency manipulation is happening all over the world it’s a fact and the whole point of it is to make their currency seem stronger when it’s really not. But if the government cheats to much for too long eventually it will crash their economy here then our exchange rate will skyrocket fast that’s why it’s a bad idea to try to cheat the financial system but eventually it’ll be a good thing for us foreigners so I say go ahead keep it up I can’t wait to see what happens in a few years.

[Mel52]

Not difficult as Thais cannot manipulate currency.  If they could the baht would not be so high.   Google, Our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said.  

 

 

 “Google, Our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said.” LOL [emoji23][emoji23][emoji23]. Uhm no google an official economic source from outside of Thailand. If you want accurate information anyway as in the truth. Try researching it on the United States Treasury Department site and other official websites. The information is out there I’m not posting it because they have some funny forum rules sometimes so you’ll have to research it for yourself bottom line.

 

But seriously you’re siting local media, really? And you actually believe it. Keep in mind the censorship laws.

 

 

[carstenp]

3 hours ago, Mel52 said:

 

I believe the exchange rate in 97 for the USD was a record high if I remember right from my research and it was a record low back in 1981. The last time the USD dropped seriously low here was back in 1981 I believe during the stock market crash if I recall correctly from my own research. Regardless currency manipulation is happening all over the world it’s a fact and the point of it is to make their currency stronger.

 

I do agree. The Thai Bath is very strong. Dkk/THB is at the lowest level since 1995.

[Isaan sailor]

Here’s what we know, from BoT observations.  Foreign inflows are pushing the Baht ever higher.

Here’s what we don’t know—just WHO is this mysterious entity buying long term Thai bonds?  

[Isaan sailor]

When we have an overpriced Baht—every Satang counts.  A little good news from BoT.

Edited July 2, 2019 by Isaan sailor
Sp

[roquefort]

11 hours ago, Mel52 said:

 

I believe the exchange rate in 97 for the USD was a record high if I remember right from my research and it was a record low back in 1981. The last time the USD dropped seriously low here was back in 1981 I believe during the stock market crash if I recall correctly from my own research. Regardless currency manipulation is happening all over the world it’s a fact and the point of it is to make their currency stronger.

 

Please explain why an exporting country like Thailand would want to make their currency stronger. The whole issue the US has with China is because their currency is too weak, not too strong. And therefore cheaper to sell goods and services into the US.

[Srikcir]

The issue of currency manipulation is best indicated by a country having two different market exchange rates for its currency: domestic and international.

The manipulation occurs when the international exchange rate is typically much higher than the domestic exchange rate. Thus for example, the currency on a global scale is overvalued, assuming the domestic rate is the true value of the currency. When China's renminbi/yuan was accepted as a world market basket currency, it had to assure that its domestic currency exchange rate matched its global rate.

Thailand's baht has the same exchange rate globally and domestically. Thus, Thailand is not a "currency manipulator." But it is manipulating its economic indicators by maintaining what seems to be an overvalued baht exchange rate through low long-term bond interest rates that makes (in my opinion) the economy appear more healthy than its actually is. Confounding that healthy picture, however, is the government's economic policies that appear to contradict a healthy economy by persistent injection of economic stimulus.

[roquefort]

36 minutes ago, Srikcir said:

The issue of currency manipulation is best indicated by a country having two different market exchange rates for its currency: domestic and international.

The manipulation occurs when the international exchange rate is typically much higher than the domestic exchange rate. Thus for example, the currency on a global scale is overvalued, assuming the domestic rate is the true value of the currency. When China's renminbi/yuan was accepted as a world market basket currency, it had to assure that its domestic currency exchange rate matched its global rate.

Thailand's baht has the same exchange rate globally and domestically. Thus, Thailand is not a "currency manipulator." But it is manipulating its economic indicators by maintaining what seems to be an overvalued baht exchange rate through low long-term bond interest rates that makes (in my opinion) the economy appear more healthy than its actually is. Confounding that healthy picture, however, is the government's economic policies that appear to contradict a healthy economy by persistent injection of economic stimulus.

I would agree with you that they're making the economy look healthier than it actually is. Question is, why? Ultimately the strong baht is going to hit exports and tourism, the two mainstays of the economy, so they're baking in an almost certain downturn.

[RichardColeman]

40 minutes ago, roquefort said:

I would agree with you that they're making the economy look healthier than it actually is.

100%, you only have to look around you at the empty houses, business premises and bar stools to know that. 

[Mel52]

I do agree. The Thai Bath is very strong. Dkk/THB is at the lowest level since 1995.

There is currency manipulation occurring in the government basically it means cheating the financial system it’s a known fact. So no the baht is not as strong as it appears at all. If they keep it up to much for too long eventually their economy will crash and then the USD and other currencies will skyrocket way above the baht even more so than the USD already is now

 

[Mel52]

The issue of currency manipulation is best indicated by a country having two different market exchange rates for its currency: domestic and international.
The manipulation occurs when the international exchange rate is typically much higher than the domestic exchange rate. Thus for example, the currency on a global scale is overvalued, assuming the domestic rate is the true value of the currency. When China's renminbi/yuan was accepted as a world market basket currency, it had to assure that its domestic currency exchange rate matched its global rate.
Thailand's baht has the same exchange rate globally and domestically. Thus, Thailand is not a "currency manipulator." But it is manipulating its economic indicators by maintaining what seems to be an overvalued baht exchange rate through low long-term bond interest rates that makes (in my opinion) the economy appear more healthy than its actually is. Confounding that healthy picture, however, is the government's economic policies that appear to contradict a healthy economy by persistent injection of economic stimulus.

Apparently the United States Treasury Department has a difference of opinion lol. Look it up.

[marcusarelus]

2 minutes ago, Mel52 said:

Apparently the United States Treasury Department has a difference of opinion lol. Look it up.

I looked it up and they said Thailand was not a currency manipulator.  ????

Edited July 2, 2019 by marcusarelus

[marcusarelus]

6 minutes ago, Mel52 said:

There is currency manipulation occurring in the government basically it means cheating the financial system it’s a known fact. So no the baht is not as strong as it appears at all. If they keep it up to much for too long eventually their economy will crash and then the USD and other currencies will skyrocket way above the baht even more so than the USD already is now

It's not a known fact and the Thai baht has been on an upward trend against the dollar and pound for 20 years.  

[marcusarelus]

3 hours ago, RichardColeman said:

100%, you only have to look around you at the empty houses, business premises and bar stools to know that. 

Your anecdotal evidence is worth nothing.  I look outside and see new construction of mega factories and refineries.  I see new highways and new malls and new homes.  My wife is building the one below she is an engineer employed with Samsung.