Fake news!

I just checked this article and the heading reads

"Overseas Thai workers unable to pay debts back home due to baht appreciation"

So, either they corrected it on their website, or someone is telling porkies ????

 

2 hours ago, Misterwhisper said:

Is this a case of serious misreporting by The Nation?

 

I have just looked up the USD:THB exchange rate and it is 30.86 THB for 1 USD. Or are they talking about the CAD, which stands at 23.49.

If she lives and works in Canada, then yes, it's probable the CAD that's meant here. 

im a frequent visitor to Thailand and have a family to support myself,can remember my first visit to this beautiful country when the exchange rate was 72 baht to the British pound. When the recession hit the baht dropped overnight to 54 from around 68 and its continued dropping ever since. The country has been run by the army in recent years,yes they've improved roads,hospitals and much more however the banks have continued to remain strong ? Corruption has been rife in recent years - tourism has dropped to around 42% ex pats have had to move back to the U.K. Exports have also dropped because of the Thai baht - remember reading in the Bangkok post,Thai banks have purposely devalued the baht as they f/c the markets ahead. I'm predicting the baht will crash as it cannot sustain its current level. Those overseas Thai workers will struggle to repay there agreed payments in turn some will lose there houses and land,that's inevitable I'm afraid,. Also foreign travelers have a right to complain as when taking money from atm Thai bank your charged a different rate and your penalized 250 baht to get your money and under the current exchange rates that makes trips to Thailand less appealing. Today's exchange rate between 36 & 38 baht to the pound. If it continues to devalue the pound then i will be left with no other option than remove my family and move back to England on a full time basis. Tourism has seen bars shops and businesses cease trading within the last 2yrs 

Kannada is working in Canada...?

I think for those from the EU as me many set 30 THB for EUR now as a final limit. Now we are scratching the 33mark (1% fee Transferwise included to the midmarket rate).

Never seen a worse rate. It is also because the EUR is super-weak, but still in other countries (because their currency is not so strong at the same time) it gets more appealing.

3 hours ago, spidermike007 said:

No, that is not correct. The woman was working in Canada. 22 baht sounds about right for the looney, especially when transferred from overseas. Actually closer to 23, but some commissions and fees are involved, probably. No doubt this is taking it's toll on millions of Thai people, between overseas workers, people working in the export industries, and people working in tourism. The overly inflated value of the baht is decimating alot of families, hurting alot of good and honorable ex-pats, and tourists alike. One can only hope with the continue gross incompetency of this administration, combined with the dramatic decline in tourism, that the baht eventually corrects itself, and assumes it's rightful place at a far lower rate than it currently occupies! 

No, the reason she's feeling it is our land locked low priced oil which has knocked the shit out of our dollar. A few years back we were almost par with the US buck, this has dick to do with the Thai Baht

3 hours ago, spidermike007 said:

No, that is not correct. The woman was working in Canada. 22 baht sounds about right for the looney, especially when transferred from overseas. Actually closer to 23, but some commissions and fees are involved, probably.

Actually the article says

 

3 hours ago, webfact said:

one US dollar fetching only Bt22 – a large drop over the usual Bt30 rate

If they meant CAD, then why Bt30 rate... last time it was there it was 2014, not exactly "usual".

 

So no mattter how you want to look at it, there is one or two huge mistakes in the article, or the workers have been seriously scammed, or both.

The Nation: "When you think about it, the real victims of an over-inflated Baht are the Thai people in Western nations."

 

She should be thankful that she is allowed to work without restrictions!

We are blackballed in her country of origin and targeted by their immigration.

Is it time for them to consider some compromise? NO! They tighten restrictions on us.

Seriously no articles from them should be believed ever .

3 hours ago, edwinchester said:

If ever there was an article proving The Nations journalists know next to nothing about the subject they're reporting this is it.

What else is new? Journalism in Thailand is right up there with being a policeman when it comes to doing a good job.

1 hour ago, androokery said:

Kannada is working in Canada...?

To crown this rubbish article.  Im sure they mixed up her name with the country. Unbelievable.

Don’t care. Thais are not the only ones who feel the pinch.

""Mom! I got a job writing stories for the Nation!"

"You don't want to herd buffalo any more?"

4 hours ago, PhonThong said:

Someone is really ripping them off.  The USD today is at 30.89 baht. 

It's not about the Trump dollar here. 

The mathematical illiteracy of journalists never ceases to astound me. Those in my native country of Australia can be just as bad.

4 hours ago, webfact said:

Thai labourers from the northeast who are working overseas urged the new government on Thursday to address the fall in the value of baht currency, which has seen one US dollar fetching only Bt22 – a large drop over the usual Bt30 rate.

Are there no pyramid schemes abroad for 'em to plug into to make up the shortfall .. 

Unlucky.. Welcome to my world..

2 hours ago, BestB said:

I am guessing they sending it back via western union which gives crappy rate and also charges high fees so it may in the end work out to be 30% less than the actual rate

Guess wrong.

That was in the bad old days 10-15 years ago.

Most are savvy enough to send via bank to bank these days.

Even illegal migrant workers have a way or a friend of sending money via the banks.

Back to the Op.

Yes it is badly written and badly reported.

However, bar the odd decent intelligent post that spotted reporting/translating foibles, the majority of posts are the usual bitter, twisted "serve 'em right" xenophobic rants. Our exchange rate is crap, and i'm hurting, so Som Nom Na.

Pathetic.

By the way, i'm hearing even migrant workers in South Korea are suffering with the exchange rate and sending money home.

Just another Nation error. Should have stated Canadian Dollar, not US. Only takes a quick look at the exchange rates to determine the error, but Nation reporters are not up to the internet technology apparently. Sad media.

Yes flawed but the meat came thru workers cannot pay their debts in Thailand, geez guys get over it

Misleading title. It's not baht plunge but baht strength.

 

The baht is strengthening against most currencies.

 

It should be Canadian dollar and not US dollar. Can't they do some editing first before publishing?

At least one Thai understands and has first hand pain that many expats feel. 

Is this the same lady who complained in a video a couple of years ago that the baht was too weak and she was repaying all her debts too quickly?

 

No, didnt think so either.

- Overseas Thai workers unable to pay debts back home due to baht plunge -

Its not due to the Baht plunging, its due to it RISING. And the 22 baht exchange is Canadian dollar not US. Just a couple of minor typos  geeez.

I'm sure this will be twisted into "Dem dere Farangs deliberately making it hard for workers abroad"

19 hours ago, webfact said:

The plunge in value has made earnings that they have sent back to Thailand shrink significantly and has left them unable to repay debts at home.

Som nam na.... what goes around comes around.... welcome to the expat world !!!

Thailand is getting more and more expensive 

Wrong use of the word 'plunge'. Maybe a translation error ?

35 minutes ago, hotchilli said:

Som nam na.... what goes around comes around.... welcome to the expat world !!!

See what i mean?

I rest my case.

 

14 hours ago, thaiguzzi said:

the majority of posts are the usual bitter, twisted "serve 'em right" xenophobic rants. Our exchange rate is crap, and i'm hurting, so Som Nom Na.

Pathetic.