Falling baht a sign of things to come

[connda]

23 hours ago, snoop1130 said:

The baht has weakened against the US dollar, opening at Bt30.70 on Tuesday after closing at 30.67 the day before.

You gotta be kidding me.  One day of data fluctuation and "the sky is falling" for the THB.  

[connda]

23 hours ago, NCC1701A said:

but but doom gloom...

Somebody put the cub reporter on the financial desk today methinks.

[Skeptic7]

FALLING BAHT?!? What?!? Falling USD and most every other currency against the Almighty THB.

 

And 23 hours later...

 

30.54 (approx 6 yr low)

 

1 Year Chart 

Edited July 3, 2019 by Skeptic7

[ukrules]

1 hour ago, steven100 said:

Every major currency just keeps dropping ....

AUD 21.38  XE this morning ... next step 20.90 .....  and the US will be 29.00 soon ... with the GBP 36.90 

 

When will they stop dropping.

Dropping against what? Each other?

[ukrules]

2 hours ago, Suradit69 said:

If that's your criteria for currency manipulation, then the US administration is doing all it can to make the dollar cheaper and all the "western" counties encouraging zero or negative rates are mega manipulator so despite their denials. 

Just pointing out the hypocrisy, many countries manipulate their currency, Thailand denies this completely.

[Mavideol]

2 hours ago, soalbundy said:

weed

are you high 555 Wednesday at 11.58 am and now Wednesday 6,19 pm is at 30.56×

[Mavideol]

51 minutes ago, ukrules said:

Just pointing out the hypocrisy, many countries manipulate their currency, Thailand denies this completely.

since when does Thailand agrees on anything, they always deny anything and everything, Thainess slogan "it's not me it's them"

[Searat7]

Every time I read one of these reports here it seems that just the opposite happens in actuality ! A crystal ball might be more useful lol

[khaowong1]

Times, they are a changing.  Many of us remember what the baht vs dollar was like many years ago.  I think it was 42 baht to the dollar when I first came to Thailand. 

Edited July 3, 2019 by khaowong1

[Damrongsak]

26 minutes ago, khaowong1 said:

Times, they are a changing.  Many of us remember what the baht vs dollar was like many years ago.  I think it was 42 baht to the dollar when I first came to Thailand. 

When I first went, it was about 20.4 Baht to the dollar.  1977.  In 1998, it went to 46.8. 

 

https://fxtop.com/en/historical-currency-converter.php?A=1&C1=USD&C2=THB&DD=01&MM=01&YYYY=1977&B=1&P=&I=1&btnOK=Go!

[Mac98]

There is a much more reliable way to decifer baht valuation: When I arrive the baht becomes stronger, when I depart it plunges. I will have to keep everyone informed as to my travel plans.

[adammike]

2 hours ago, Damrongsak said:

When I first went, it was about 20.4 Baht to the dollar.  1977.  In 1998, it went to 46.8. 

 

https://fxtop.com/en/historical-currency-converter.php?A=1&C1=USD&C2=THB&DD=01&MM=01&YYYY=1977&B=1&P=&I=1&btnOK=Go!

It was tied to the dollar untill 1997 you got 25baht for a dollar.

[Skeptic7]

37 minutes ago, adammike said:

It was tied to the dollar untill 1997 you got 25baht for a dollar.

Yes and No. It was "pegged" to the USD from 1956-1973 @ ฿20.8 : $1...from 1974-1978 @ ฿20 : $1...not sure what happened between then and 1984 when it was pegged @ ฿25 : $1, as there was alot of fluctuation between ฿20 and ฿25 in those years. 

 

So it was actually at ฿20 : $1 in 1977, as Damrongsak stated above. It was not pegged at ฿25 until mid-1984 or thereabouts and remained so pegged until 1997 when the Baht collapsed (The "Tom Yum Goong" Crisis) which triggered a chain reaction throughout the region...known as the Asian Financial Crisis or "Asian Contagion".

 

That was the best of times!!!   ????  ???? 

[Thingamabob]

When Brexit is either accomplished or revoked Sterling will start to recover up to around 50+ baht to the pound. 

[Damrongsak]

19 hours ago, Skeptic7 said:

Yes and No. It was "pegged" to the USD from 1956-1973 @ ฿20.8 : $1...from 1974-1978 @ ฿20 : $1...not sure what happened between then and 1984 when it was pegged @ ฿25 : $1, as there was alot of fluctuation between ฿20 and ฿25 in those years. 

 

So it was actually at ฿20 : $1 in 1977, as Damrongsak stated above. It was not pegged at ฿25 until mid-1984 or thereabouts and remained so pegged until 1997 when the Baht collapsed (The "Tom Yum Goong" Crisis) which triggered a chain reaction throughout the region...known as the Asian Financial Crisis or "Asian Contagion".

 

That was the best of times!!!   ????  ???? 

My bro-in-law sent a fair amount of money back to Thailand from the US just prior to the collapse.  He got about 25 Baht and it soon went over 40. He screwed himself.

Edited July 4, 2019 by Damrongsak

[Skeptic7]

2 minutes ago, Damrongsak said:

My bro-in-law sent a fair amount of money back to Thailand from the US just prior to the collapse.  He was got about 25 Baht and it soon went over 40. He screwed himself.

And now we're all SCREWED! ???? 

[RocketDog]

On 7/2/2019 at 10:38 PM, OJAS said:

Whereas the USD has only "rebounded" against the THB by 0.1% by my reckoning.

 

Fake news, I think.

Not fake, but also not news.

Twice wrong OJAS. ????

[Naam]

On 7/3/2019 at 9:08 PM, Damrongsak said:

When I first went, it was about 20.4 Baht to the dollar.  1977.  In 1998, it went to 46.8.

in january 1998 i received 55.25 Baht for 1 US-Dollar.

[Naam]

On 7/2/2019 at 5:30 PM, snoop1130 said:

Last night the market was highly active due to the finalization of the US-China trade war

what finalisation pray tell?

[Damrongsak]

25 minutes ago, Naam said:

in january 1998 i received 55.25 Baht for 1 US-Dollar.

I looked up Jan 1998 in that link I posted.  Jan 12th - 56.1. 

[adammike]

1 hour ago, Damrongsak said:

I looked up Jan 1998 in that link I posted.  Jan 12th - 56.1. 

But that was during the Asian financial crisis,a year earlier you would have got 25 because the Baht was tied to the US dollar.At one moment it was 90 for a pound great if you changed a lot of pounds but not a good basis for long term budgeting.

[Damrongsak]

5 minutes ago, adammike said:

But that was during the Asian financial crisis,a year earlier you would have got 25 because the Baht was tied to the US dollar.At one moment it was 90 for a pound great if you changed a lot of pounds but not a good basis for long term budgeting.

I went through my own Asian financial crisis in Thailand, 1977-79. I was in the Peace Corps making about 3,000 Baht per month.  But beer and girls were reasonably priced back then.  555

[Mikisteel]

Just now, Naam said:

in january 1998 i received 55.25 Baht for 1 US-Dollar.

Ok sorted get in the time machine and get back. If it's not possible. Zip it cos that was over 2 decades ago. 

[Mikisteel]

I think we are about to see a change in our favour. For 8 years the rulers did not need to manage this country they just needed to manage the order. Now they have to manage the country and already they are delayed. Infrastructure in decline, exports priced out of competition and neighbouring countries improving dramatically. If holiday bookings are down surely these are the real signs. 11% down on previous year is horrific.

 

I believe it is time to check and check and check until the card falls in our favour. 45 baht to £ by September. 52 by December.

 

 

[john west]

Mikisteel. Hoping you are right and the Baht much too strong and it depends on the currency manipulators here and around the World
It also depends on this damn Brexit and over 2 years now??

Edited July 8, 2019 by john west

[Mark1066]

On 7/7/2019 at 1:22 AM, Mikisteel said:

I think we are about to see a change in our favour. For 8 years the rulers did not need to manage this country they just needed to manage the order. Now they have to manage the country and already they are delayed. Infrastructure in decline, exports priced out of competition and neighbouring countries improving dramatically. If holiday bookings are down surely these are the real signs. 11% down on previous year is horrific.

 

I believe it is time to check and check and check until the card falls in our favour. 45 baht to £ by September. 52 by December.

 

 

I really doubt the Baht is going to fall by 18%, or the GBP is going to appreciate by 18%, within the next 8 weeks. Or even a combination of the two.

[PolarAttack]

For the Canadian dollar today was a good day regarding the baht rate. July 12th

[Skeptic7]

2 minutes ago, PolarAttack said:

For the Canadian dollar today was a good day regarding the baht rate. July 12th

Just wait till next week. ????

[spidermike007]

The baht is down to 30.90 as of this morning. It is not about the strength of the dollar. It is about the power of the baht. The dollar is maintaining parity with most currencies right now. Yet, the baht is completely out of proportion to where is should be, considering how dysfunctional the government is here, and how weak tourism is (despite fake protestations to the contrary by some officials, who have a bizarre relationship to an abstract concept known as "truth"). This new administration actually has a finance minister with a business background, which is a bit of a miracle, considering how little in the way of merit, takes place within this administration, and how meaningless the concept is to the Thai army. 

 

No doubt, the strong baht is taking it's toll on the Thai economy. From tourism, to exports, condo purchases by foreigners, foreign investment, etc., the high baht has to be making a negative impact. 

[fusion58]

Leave us not forget, USD/THB was ~34-35/1 before we put the reality TV pinhead in the White House.