snoop1130 36116 Posted December 4, 2019 Share Posted December 4, 2019 Thai baht is likely to weaken, central bank deputy governor says FILE PHOTO: A Thai Baht note with the images of King Maha Vajiralongkorn and the late King Bhumibol Adulyadej is seen during the coronation of King Maha Vajiralongkorn in Bangkok, Thailand, May 4, 2019. REUTERS/Navesh Chitrakar BANGKOK (Reuters) - Thailand's baht <THB=TH> currency is likely to weaken on more foreign selling, a lower current account surplus and reduced dollar-related gold trading flows, a deputy governor of its central bank said on Wednesday. Market sentiment has changed and foreign investors now think the baht, Asia's top performing currency this year, may not rise much further because its strength is already much beyond the country's fundamentals, Mathee Supapongse told reporters. "That makes the baht not a safe haven as it was before," he said. "It is moving more on a downward trend after a one-way rise earlier." The central bank's two interest rate cuts this year have also eased upward pressure on the baht by making the Thai yield curve the lowest in Southeast Asia and less attractive, Mathee said. Still, the baht has appreciated 7.5% against the U.S. dollar so far this year, hurting Thai exports, a key growth driver. The gold trade had helped push the Thai currency to a six-year-high as traders who had exported gold repatriate their dollars back to exchange the proceeds for baht. The Bank of Thailand remains concerned about the strength of the baht and is ready to take action against any rapid gains, either through intervention or additional steps, Mathee said. On Wednesday, the central bank, the Federation of Thai Industries and commercial banks discussed how to handle the baht's strength, he said, without giving further details. -- © Copyright Reuters 2019-12-04 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to post Share on other sites More sharing options...
toofarnorth 6376 Posted December 4, 2019 Share Posted December 4, 2019 Today 39.5 - Quid , 'Its getting better all the time .' Link to post Share on other sites More sharing options...
brokenbone 3469 Posted December 4, 2019 Share Posted December 4, 2019 take your time, im in no rush to get my moneys worth Link to post Share on other sites More sharing options...
lujanit 5490 Posted December 4, 2019 Share Posted December 4, 2019 Weaker? Not my experience yesterday when I transferred AUD to baht via Transferwise. The baht was stronger than a month ago. Link to post Share on other sites More sharing options...
torturedsole 2526 Posted December 4, 2019 Share Posted December 4, 2019 Pattaya's on its uppers the baht on its downers and all within the space of a week. LOS is the gift that keeps on giving. Link to post Share on other sites More sharing options...
anterian 3134 Posted December 4, 2019 Share Posted December 4, 2019 When it comes to the Pound it is difficult to separate out Thai effects from Brexit effects. Link to post Share on other sites More sharing options...
torturedsole 2526 Posted December 4, 2019 Share Posted December 4, 2019 6 minutes ago, anterian said: When it comes to the Pound it is difficult to separate out Thai effects from Brexit effects. True, but the strength of the baht is significant and it shows. Hence, TAT glossing over the worst high season in recent years as one only has to look out of the window. It really is that bad for the Thais. Link to post Share on other sites More sharing options...
worgeordie 60644 Posted December 4, 2019 Share Posted December 4, 2019 58 minutes ago, snoop1130 said: beyond the country's fundamentals, If that's true it should be dropping like a stone, regards worgeordie Link to post Share on other sites More sharing options...
AlexO 66 Posted December 4, 2019 Share Posted December 4, 2019 9 minutes ago, worgeordie said: If that's true it should be dropping like a stone, regards worgeordie No chance. Because tourism is down? The Hi,So's are still looking to make purchases abroad so stronger the Baht is the more they can buy. The Military toys from China are currently about 6% cheaper than last year do you think they care about a crash in property prices or a drought that will hit many, many breadline Thai's Link to post Share on other sites More sharing options...
Five and Nine Bkk 13 Posted December 4, 2019 Share Posted December 4, 2019 The baht is not going to weaken. He's just blowing smoke. Link to post Share on other sites More sharing options...
Misterwhisper 19718 Posted December 4, 2019 Share Posted December 4, 2019 2 hours ago, snoop1130 said: Still, the baht has appreciated 7.5% against the U.S. dollar so far this year, hurting Thai exports, a key growth driver. Thank you for clarifying that, Mr. Mathee. You seem to have a much better understanding of the dynamics than our DPM in charge of economy and finances, Somkid Jatusripitak, who firmly believes the Thai economic slowdown is solely the result of global recession and has nothing - absolutely nothing! - to do with the currently overvalued THB: Link to post Share on other sites More sharing options...
StayinThailand2much 8615 Posted December 4, 2019 Share Posted December 4, 2019 1 hour ago, Five and Nine Bkk said: The baht is not going to weaken. He's just blowing smoke. And if not, the Thai baht can always blame the other currencies for being "too weak"... Link to post Share on other sites More sharing options...
Number 6 2561 Posted December 4, 2019 Share Posted December 4, 2019 What a laff. Trying to talk the THB down. This is really too funny. Link to post Share on other sites More sharing options...
saengd 2980 Posted December 4, 2019 Share Posted December 4, 2019 2 hours ago, anterian said: When it comes to the Pound it is difficult to separate out Thai effects from Brexit effects. There is no GBP/THB pair per se, GBP/THB is calculated via GBP/USD....look at a five or ten year chart of GBP/THB and then the same period for GBP/USD. Link to post Share on other sites More sharing options...
EricTh 5683 Posted December 4, 2019 Share Posted December 4, 2019 They have been talking about Baht weakening for years now..... Just another misleading news. Link to post Share on other sites More sharing options...
kevin612 1844 Posted December 4, 2019 Share Posted December 4, 2019 I don’t like the word likely, I want completely. Link to post Share on other sites More sharing options...
Laza 45 3240 Posted December 4, 2019 Share Posted December 4, 2019 6 hours ago, lujanit said: Weaker? Not my experience yesterday when I transferred AUD to baht via Transferwise. The baht was stronger than a month ago. Nov 4th it hit 20.94 but it was downhill from there to a couple of days ago..th $Au is on an upward trend at the moment.. 20.76 this morning.. Here is the X-Rates graph.. https://www.x-rates.com/graph/?from=AUD&to=THB&amount=1 Link to post Share on other sites More sharing options...
MaxYakov 2924 Posted December 4, 2019 Share Posted December 4, 2019 And HERE is the X-Rates USD graph showing around 30.30 on December 4th. Where can I get 30.30/USD? I can't get that at Bangkok Bank, that's for sure (because their profit/cut on the transaction). Link to post Share on other sites More sharing options...
webfact 183850 Posted December 4, 2019 Share Posted December 4, 2019 Strengthening baht poised to reverse course, says BOT By The Nation BOT deputy governor Mathee Supapongse says the baht is on a declining trend. The baht is on a declining trend, Bank of Thailand (BOT) deputy governor Mathee Supapongse said on Wednesday (December 4). “The baht is now moving two-way against the US dollar, and unlike the one-way appreciation of the past it is on a weakening trend." He urged exporters and importers to hedge against the baht's volatility and its implications. The BOT has implemented many measures to rein in the baht, such as limiting the amount of baht for non-resident baht accounts and issuing measures to relax capital flows to encourage Thai individuals to invest in financial assets abroad while exporters are allowed to park more money abroad. Investors are allowed to use dollars for trading gold in the Thailand market. “Foreign investors have changed their perspective about values of emerging market currencies and they think the baht will not rise further. Investors now short the baht after they previously longed the baht,” Mathee said. Moreover, Thailand’s current account surplus is reducing, easing the pressure on the baht. The indirect impact of the central bank twice cutting policy rates has also lessened pressure on the baht, he said. “Investors may no longer consider baht as a safe haven asset as they see the baht has diverged too much from economic fundamentals, so there is high chance that the baht could reverse course,” he added. Thai business leaders on the same day, however, still voiced concerns over the strengthening of the baht. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) issued a statement urging the government to help small and medium-sized enterprises impacted by the stronger baht. They said the central bank’s recent measures may prevent the baht's rise in the short run. If the baht continues to rise it would have a negative impact on the country's competitiveness, they said. The baht rose about 7 per cent against the US dollar since early this year. Currently it has moved slightly over Bt30 to the dollar. The weighted-average interbank exchange rate on Wednesday was Bt30.29 per dollar, according to the BOT. Source: https://www.nationthailand.com/business/30379086 -- © Copyright The Nation Thailand 2019-12-05 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to post Share on other sites More sharing options...
canuckamuck 30675 Posted December 4, 2019 Share Posted December 4, 2019 Should go nicely with next year's recession. Link to post Share on other sites More sharing options...
legend49 5365 Posted December 4, 2019 Share Posted December 4, 2019 11 hours ago, worgeordie said: If that's true it should be dropping like a stone, regards worgeordie They are waiting for the sun to rise in the western sky! Link to post Share on other sites More sharing options...
TheAppletons 3486 Posted December 4, 2019 Share Posted December 4, 2019 3 hours ago, MaxYakov said: And HERE is the X-Rates USD graph showing around 30.30 on December 4th. Where can I get 30.30/USD? I can't get that at Bangkok Bank, that's for sure (because their profit/cut on the transaction). You could have obtained 30.24 THB for one USD yesterday at Superrich. Expecting to obtain a commercial grade rate as an individual consumer making a small transaction is rather naive (x-rates uses a blend of commercial grade rates to arrive at the rates they display.) Link to post Share on other sites More sharing options...
klauskunkel 26458 Posted December 4, 2019 Share Posted December 4, 2019 13 hours ago, snoop1130 said: Thai baht is likely to weaken, central bank deputy governor says Don't count on it, the Thai Baht is different - it is Thai. Link to post Share on other sites More sharing options...
TheFishman1 5402 Posted December 5, 2019 Share Posted December 5, 2019 Hilarious more talk TIT Link to post Share on other sites More sharing options...
30la 2027 Posted December 5, 2019 Share Posted December 5, 2019 13 hours ago, snoop1130 said: Market sentiment has changed and foreign investors now think the baht, Asia's top performing currency this year, may not rise much further because its strength is already much beyond the country's fundamentals, Mathee Supapongse told reporters. Are you pulling the brake? After you and your cronies brought the country to a very low level and after continuously telling that the country is in continuous growth, you thought it was better to brake, probably very slow to give even the least chance to do a bit of speculation! What you've destroyed is hard to describe! I'm not talking about us FARANG, we survive ... Link to post Share on other sites More sharing options...
Laza 45 3240 Posted December 5, 2019 Share Posted December 5, 2019 3 hours ago, MaxYakov said: And HERE is the X-Rates USD graph showing around 30.30 on December 4th. Where can I get 30.30/USD? I can't get that at Bangkok Bank, that's for sure (because their profit/cut on the transaction). You won't get the official rate anywhere.. but if you use TransferWise your transfer cost will be minimal and as close to the official rate as you can get.. if you can do better elsewhere let me know.. please. I don't believe Bangkok Bank take a cut on an electronic transfer.. I haven't seen any on my transfers.. I get what TransferWise tell me they are sending less their fee.. No 220 Bt ATM fee.. no fee from my bank.. I do my transfers using a Visa debit card.. there are other options.. and the fees may be higher using those options.. Link to post Share on other sites More sharing options...
miamiman123 867 Posted December 5, 2019 Share Posted December 5, 2019 My Thai wife works in Bangkok at a vitamin supplement office. These are high quality Imported vitamins. She told me today that she lost 4 previous customers, who are Thais with Australian husbands to her company that has a office in Vietnam. High baht and higher shipping from Thailand is the reason. Link to post Share on other sites More sharing options...
jesimps 8437 Posted December 5, 2019 Share Posted December 5, 2019 12 hours ago, Brigand said: A mix of both, but the pound could well go up a noticeable amount after the election result if there is a Tory majority. A hung parliament or a Labour coalition will send it tumbling again. Once there is some certainty in the UK for the markets to be relaxed about and the baht starts to go where it belongs then the pound might well head back towards what it's really worth ... which is about 50-55 baht. You're right, but the fact that a lot of the usual Labour supporters back there can't see beyond their next pint, Dregs Corbyn's latest pie in the sky promises might hit home with them. At least this time the Tory's manifesto doesn't include any nasties like the last one. I honestly think that Terrible Theresa was trying to ensure a small majority to keep us in the EU. Link to post Share on other sites More sharing options...
bananafish 511 Posted December 5, 2019 Share Posted December 5, 2019 Lets get back to 50+ THB = 1 GBP and hassle free visas please. Link to post Share on other sites More sharing options...
IAMHERE 4677 Posted December 5, 2019 Share Posted December 5, 2019 14 hours ago, snoop1130 said: reduced dollar-related gold trading flows Where does this gold come from; I thought the only gold mine in Thailand had been shut down. Link to post Share on other sites More sharing options...
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