Chivas Posted August 8, 2019 Share Posted August 8, 2019 Mods/Admin Consider perhaps putting a very short explanation as to how foreign currency is calculated at the top of this sub forum. The amount of people that have absolutely no idea how their own bottom line exchange rate is calculated is staggering. Its frightening how many assume that the Euro Sterling AUD Kiwi Dollar etc etc have a direct exchange rate with the Thai Baht. Only the USD has that priviledge and for everyone else its the sum of two currency pairings of which movement in either will affect the bottom line Link to comment Share on other sites More sharing options...
Chivas Posted August 8, 2019 Share Posted August 8, 2019 Baht continuing to gain strength Thursday against the Greenback clearly totally oblivious to yesterdays rate cut Link to comment Share on other sites More sharing options...
DaveBKK Posted August 8, 2019 Share Posted August 8, 2019 Thai SET is up 6.81% YTD. With China RMB plunging and India cutting rates Thailand is viewed as a safe haven. More money will be pouring in and the baht will strengthen. Thailand doesn’t want this. I wouldn’t be surprised to see deposit controls implemented. Ie foreign deposits being held for certain period of time and penalities taken if withdrawn early with no interest paid during the period. They’ve done this before. Link to comment Share on other sites More sharing options...
mindfulness Posted August 8, 2019 Share Posted August 8, 2019 5 hours ago, bbbbooboo said: Hmmm.... I guess at the end of the day tourists will go where their money has most value. At the moment it’s not Thailand and with the Thai’s homophobic immigration attitudes tourists and falang are looking elsewhere. Som nom na? xenophobic you pillock ! Link to comment Share on other sites More sharing options...
totally thaied up Posted August 8, 2019 Share Posted August 8, 2019 Can't people see everything is pegged to the USD. It is USD and your problems at home. My forecasts for the AUD are dreadful for the next so many years. If they get to the levels I think they can get, my wife and I will be going home as inflation here plus the AUD rate has just knocked it out the park. Most Aussie pensioners will not have the money to stay without digging into there savings. The AUD will weaken, the Thai baht will peg itself to the USD for now. The RBA will weaken rates and we may not have enough ammunition. Our share market was at a all time high. It is just a perfect storm. Link to comment Share on other sites More sharing options...
john1000 Posted August 8, 2019 Share Posted August 8, 2019 Thailand seems a dumping ground for investors. Most Western countries including the dollar, have weakened against the Baht. Sterling taken a hit everywhere re Brexit stuff. Sadly seems a stand off at the moment. Feel for people who budgeted on a fixed income a few years ago. Link to comment Share on other sites More sharing options...
Isaan sailor Posted August 8, 2019 Share Posted August 8, 2019 Too bad BoT didn’t raise interest rates .25 basis points. Maybe the Baht would have gone down for a change... Link to comment Share on other sites More sharing options...
Brunolem Posted August 8, 2019 Share Posted August 8, 2019 25 minutes ago, john1000 said: Thailand seems a dumping ground for investors. Most Western countries including the dollar, have weakened against the Baht. Sterling taken a hit everywhere re Brexit stuff. Sadly seems a stand off at the moment. Feel for people who budgeted on a fixed income a few years ago. If you are an investor, the kind like Soros, not Toyota, you look for markets offering positive rates AND a stable currency/political environment. Many countries offer better rates than Thailand... India for example... but are not seen as so stable (see the crisis in Kashmir). Stability is paramount for investors who prefer not having to hedge against multiple risks. This is why a lot of money is currently flowing to the US dollar and, to a much lesser extent, to countries such as Thailand. Another thing that is attractive to some specific investors, is that Thailand regulations regarding money transfers are soft compared to many other countries. People who have a lot of cash can park it rather easily in Thailand, hence Russians and others buying condos by the dozen... one guy I know off has over a hundred in a single residence in Pattaya... Multiply this by hundreds of wealthy foreigners, and it starts to add up... Link to comment Share on other sites More sharing options...
Gumballl Posted August 8, 2019 Share Posted August 8, 2019 22 hours ago, Chivas said: Made absolutely no impression on Dollar/Baht in fact the Baht has in fact mariginally gained strength since that release against the USD Be patient, grasshopper. Link to comment Share on other sites More sharing options...
Naam Posted August 8, 2019 Share Posted August 8, 2019 4 minutes ago, Brunolem said: People who have a lot of cash can park it rather easily in Thailand, hence Russians and others buying condos by the dozen... buying a condo means parking cash because it's a breeze to sell it? Link to comment Share on other sites More sharing options...
Brunolem Posted August 8, 2019 Share Posted August 8, 2019 9 minutes ago, Naam said: buying a condo means parking cash because it's a breeze to sell it? They never sell, they rent, so they can make a nice legitimate income from their (not always clean) cash. By "park", I mean recycle or launder. Years ago, a guy owned almost the whole soi Pattayaland 2, in Pattaya, including half a dozen go go bars, restaurants, where he had spared no expense... this made absolutely no sense businesswise... Link to comment Share on other sites More sharing options...
Time to grow Posted August 8, 2019 Share Posted August 8, 2019 In this day and age, why would anyone be allocated in fiat anyway? It doesn't take an economist to read the writing on the wall. Gold, Silver, or Bitcoin are clearly the answer to the long foretasted demise of all fiat. Or just continue to believe in a failing system, complaining all the way down. Link to comment Share on other sites More sharing options...
Chivas Posted August 8, 2019 Share Posted August 8, 2019 1 hour ago, Gumballl said: Be patient, grasshopper. Patient ??? For what ?? USA or UK make a change in base rates either way and forex moves sharply. The Baht had zero reaction whatsoever to yesterdays move. Going to take a lot more to weaken it out to 33 Link to comment Share on other sites More sharing options...
Gumballl Posted August 8, 2019 Share Posted August 8, 2019 23 minutes ago, Chivas said: Patient ??? For what ?? USA or UK make a change in base rates either way and forex moves sharply. The Baht had zero reaction whatsoever to yesterdays move. Going to take a lot more to weaken it out to 33 Patience (or forbearance) is the ability to endure difficult circumstances such as perseverance in the face of delay; tolerance of provocation without responding in annoyance/anger; or forbearance when under strain, especially when faced with longer-term difficulties. Patience is the level of endurance one can have before negativity. It is also used to refer to the character trait of being steadfast. Antonyms include hastiness and impetuousness. Enough said. Link to comment Share on other sites More sharing options...
Chivas Posted August 8, 2019 Share Posted August 8, 2019 1 minute ago, Gumballl said: Patience (or forbearance) is the ability to endure difficult circumstances such as perseverance in the face of delay; tolerance of provocation without responding in annoyance/anger; or forbearance when under strain, especially when faced with longer-term difficulties. Patience is the level of endurance one can have before negativity. It is also used to refer to the character trait of being steadfast. Antonyms include hastiness and impetuousness. Enough said. What are you going on about ?? I would suggest a course in foreign exchange might assist you better than googling the definition of patience. Link to comment Share on other sites More sharing options...
Brer Posted August 8, 2019 Share Posted August 8, 2019 Don’t want to be a doomsayer, however many are forecasting a strengthening baht. Time to buy some gold or baht? I think some investment outside fiat currency might be a better option. Link to comment Share on other sites More sharing options...
randy723 Posted August 8, 2019 Share Posted August 8, 2019 thebaht is staying the same against the USD but the Philippine pesos went from 50 per 1 USD to over 52. here we come to the Philippines where we get more for our money and that is in more than one way also Link to comment Share on other sites More sharing options...
sydneyjed Posted August 8, 2019 Share Posted August 8, 2019 Would say this has more to do with what happened with the Chinese reaction to the US trade war.Will be interesting to see where this goes now if the THB remains high as economically Thailand could find itself well and truly alienated with every other trading partners currency bearing the brunt.Interesting times ahead you would think and the bubble may be about to pop! Link to comment Share on other sites More sharing options...
Brunolem Posted August 8, 2019 Share Posted August 8, 2019 23 minutes ago, Brer said: Time to buy some gold or baht? I think some investment outside fiat currency might be a better option. Indeed... Link to comment Share on other sites More sharing options...
NightSky Posted August 8, 2019 Share Posted August 8, 2019 7 hours ago, davidst01 said: so why would you fix your rate if rates are falling... hope you didnt do it Because the fixed rate was much cheaper than the floating rate for first 3 years and then two years at percentage points below Bank of Thailand rates (MRR - 2.5%) which is why I asked about rates for those those two unpredicatable years where we are tied in the contract. Link to comment Share on other sites More sharing options...
johnarth Posted August 8, 2019 Share Posted August 8, 2019 9 hours ago, Berkshire said: Exactly. Lowering interest rates will hopefully discourage foreign money coming in, which should result in the weakening of the baht over time. I'm constantly amazed that so many expats buy into the nonsense that the Thais are "manipulating" the THB to make it stronger. It makes no sense....if one understands anything about international finance and basic economics. I will differently go along with it makes no sense so who is doing it are other counties really buying out Thailand Link to comment Share on other sites More sharing options...
Skeptic7 Posted August 8, 2019 Share Posted August 8, 2019 No surprise here. Should NEVER have raised last December. Another cut or 2 should be in the forecast. Link to comment Share on other sites More sharing options...
Pablosbmb Posted August 8, 2019 Share Posted August 8, 2019 9 hours ago, Berkshire said: Exactly. Lowering interest rates will hopefully discourage foreign money coming in, which should result in the weakening of the baht over time. I'm constantly amazed that so many expats buy into the nonsense that the Thais are "manipulating" the THB to make it stronger. It makes no sense....if one understands anything about international finance and basic economics. Next you will say there is no Thai Mafia in Phuket! Link to comment Share on other sites More sharing options...
bender92 Posted August 8, 2019 Share Posted August 8, 2019 On 8/7/2019 at 5:17 PM, Chivas said: Made absolutely no impression on Dollar/Baht in fact the Baht has in fact mariginally gained strength since that release against the USD Yes, just now I saw that the dollar is below 30. Link to comment Share on other sites More sharing options...
Brer Posted August 8, 2019 Share Posted August 8, 2019 You can buy a lot of US dollars with a strong baht, a lot of gold too, just wonder how many Thai millionaires are stacking gold bars into Swiss vaults. You can bet your life that the Thai’s aren’t buying paper gold either. Link to comment Share on other sites More sharing options...
yodsak Posted August 8, 2019 Share Posted August 8, 2019 8 minutes ago, bender92 said: Yes, just now I saw that the dollar is below 30. 30.74 Link to comment Share on other sites More sharing options...
Chivas Posted August 8, 2019 Share Posted August 8, 2019 36 minutes ago, bender92 said: Yes, just now I saw that the dollar is below 30. No Dollar/Baht is 30.77 at time of posting....it was around 30.82 at time of that quarter point news release Link to comment Share on other sites More sharing options...
Naam Posted August 8, 2019 Share Posted August 8, 2019 5 hours ago, Brunolem said: 5 hours ago, Naam said: buying a condo means parking cash because it's a breeze to sell it? They never sell, they rent, so they can make a nice legitimate income from their (not always clean) cash. By "park", I mean recycle or launder. poor people accusing those well off of crimes without any evidence are disgusting. Link to comment Share on other sites More sharing options...
Naam Posted August 8, 2019 Share Posted August 8, 2019 11 hours ago, Isaan sailor said: Conjecture: ChiComs made deal to dump their maturing USD bonds into Thai bonds (aka hot money inflows). This ongoing deal began several years ago. Now we have high Baht, damaged exports and precarious tourism. China gets safe investments to help fund BRI. Link to comment Share on other sites More sharing options...
Naam Posted August 8, 2019 Share Posted August 8, 2019 1 hour ago, bender92 said: Yes, just now I saw that the dollar is below 30. put that bottle away Link to comment Share on other sites More sharing options...
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