2 hours ago, miamiman123 said:

The “Thaitanic”... break out the life rafts! 

They will get saved by the Subs .

How about lowering the interest rates to match other countries, that would stop the inflow of so called "Hot Money"

in short order.

Problem solved.

2 hours ago, Denim said:

Prayut added that the government has prepared a host of measures to cope with employee layoffs at some companies and shutdowns at others.

 

THE MEASURES

 

1)   Look the other way

2)   Deny the problem is serious

3)   Propagate fake news that there are more new factories opening than old ones closing

4)   Encourage the unemployed to spend spend spend.

5)   Silence government critics

6)   Discourage tourists but expect more to come.

7)    Ban opposing political parties on trumped up charges.

 

 

 

 

 

 

 

 

You missed one . . .  ???? get the TAT to supply the statistics.

2 hours ago, RichardColeman said:

Translation : They would wait for it to go down on its own and take the credit by making up some fanciful policy in retrospect

Bloomberg has already forcast a reversal in the value of the baht due to worsening economic factors. Not human intervention...

Much to late as tourists/foreign investors/potential expats who have gone elsewhere unlikely to return.

51 minutes ago, digger70 said:

They will get saved by the Subs .

Is that food or football?

REALLY??????  HOW?????  WHEN???  

Thai baht appears to be paired with USD,  GBP exchange rate is half of what it was in 2005.  the USD has faired much better than the GBP,  in this time span.  the other factor was the Brexit vote. 52 baht to the pound before the vote.

Edited December 25, 20196 yr by bluemoonpattaya
line missed

It’s a shame that this government is clueless on how to regulate its currency. 
 

Bring in some experts from overseas.

5 hours ago, ezzra said:

Tell me about it, the USD TT rate stand at 30.40 baht to 1 usd, this is a fantastic rate and good for those who convert THB to USD...

 

Where did you get that rate. Oanda shows 30.09 ThB for 1 USD. Pound also down against the USD which makes it worse for Brits - back to between 38-39 ThB again!

10 minutes ago, brucegoniners said:

It’s a shame that this government is clueless on how to regulate its currency. 
 

Bring in some experts from overseas.

 

You are joking! And where might these experts all be hiding? 

 

 

A lot of nonsense in the posts above.

 

Comments show that the posters have no idea how currency markets work.

 

For the baht to go up, it has to be bought with...foreign currencies.

 

Assuming that rich Thais wanted to push the baht up, they would need to buy baht with the foreign currencies they own.

 

And we are not talking about a few millions, because to move a currency market you need a lot of money...and the rich don't have that much cash on hand, especially foreign cash...most of their wealth is in assets.

 

On top of that, they would gain nothing in the process, having to sell their dollars at a loss, only to buy them back later...

 

The fact is that Thailand is one of the rare countries that is not debauching its currency, making it attractive to those in search of safe markets.

 

This is causing pain to Thailand in the short term, but countries that are engaged in destroying their currencies (US, UK, EU, Japan...) will suffer much much more in the not too distant future...

 

Think about the grasshopper and the ant...

 

16 minutes ago, Brunolem said:

A lot of nonsense in the posts above.

 

Comments show that the posters have no idea how currency markets work.

 

For the baht to go up, it has to be bought with...foreign currencies.

 

Assuming that rich Thais wanted to push the baht up, they would need to buy baht with the foreign currencies they own.

 

And we are not talking about a few millions, because to move a currency market you need a lot of money...and the rich don't have that much cash on hand, especially foreign cash...most of their wealth is in assets.

 

On top of that, they would gain nothing in the process, having to sell their dollars at a loss, only to buy them back later...

 

The fact is that Thailand is one of the rare countries that is not debauching its currency, making it attractive to those in search of safe markets.

 

This is causing pain to Thailand in the short term, but countries that are engaged in destroying their currencies (US, UK, EU, Japan...) will suffer much much more in the not too distant future...

 

Think about the grasshopper and the ant...

 

 

You are right. Thailand enjoys a healthy current account balance and excellent foreign currency reserves. Plus, as you say,  the not debauching of its currency makes it attractive to those in search of safety. Prior to the devaluations the interest rates were very attractive too, and are still better than most and most offshore rates.

 

Despite what some TVF posters insist on posting Thailand is viewed somewhat differently by the currency markets!

 

Bloomberg forecast a reversal - but when is another question; and one they don't answer. Has strengthened again at the moment.

Edited December 25, 20196 yr by Baerboxer

Don't bother.  Baht should reach parity with USD.  That way, I can return to USA as a multimillionaire.

4 hours ago, tropo said:

https://www.bloomberg.com/news/articles/2019-12-22/thai-baht-asia-s-best-performing-currency-faces-reversal

A good read.  Thanks for the link.

4 hours ago, malibukid said:

i am boycotting the baht. spend my money elsewhere.

Viet Nam seems a favourite place.

7 hours ago, Robert Tyrrell said:

So far what I’ve seen is

ALOT OF HOT AIR !! and Brown Envelopes getting FATTER !!

Meanwhile the reality of honest working hard Thai People’s lively hoods being destroyed !!  

.......????????????

8 hours ago, ezzra said:

Tell me about it, the USD TT rate stand at 30.40 baht to 1 usd, this is a fantastic rate and good for those who convert THB to USD...

 

8 hours ago, ezzra said:

Tell me about it, the USD TT rate stand at 30.40 baht to 1 usd, this is a fantastic rate and good for those who convert THB to USD...

What you talking about 30.08 is the dollar at TT currency in Pattaya

2 hours ago, Baerboxer said:

 

Where did you get that rate. Oanda shows 30.09 ThB for 1 USD. Pound also down against the USD which makes it worse for Brits - back to between 38-39 ThB again!

Where does this guy get his figures 

6 hours ago, RichardColeman said:

11 hours ago, webfact said:

He said the measure is expected to be launched soon.

Translation : They would wait for it to go down on its own and take the credit by making up some fanciful policy in retrospect

They keep making these statements and the doing nothing. I expect they are hoping one of them will coincide with the actual fall of the THB and then take the plaudits. I bet they're bringing in all sorts of different fortune tellers to predict the fall. The one that get's it right will be rewarded handsomely. 19th century government in action.

 

I think any government plans in this country to form a committee, hold an investigation, meetings, or feasibility studies, normally leads to one outcome.

A number of fat cats getting fatter, and richer, and millions of baht being distributed in the plain brown paper envelopes. 

 

A failure to plan, is a plan to fail.

 

Sadly they have had their noses in the trough too long, and obviously enjoyed the benefits of the out of control strong baht.

I left Thailand for Vietnam.  I have been here for 2 weeks and have met at least 10 other farang who, like me , gave up on the LOS. THE BIGGEST REASON IS NOT THE BAHT.. MY ONE YEAR VISA FOR VIETNAM TOOK 10 MIN OB LINE AND COST $150 USD!!!!

Thailand did not want the 120,000 baht that i spend there every month 

Stupid government!!!!

I feel welcome in Vietnam.

I would have perfered to stay in Thailand. 

is this a warning of an impending devaluation?

 

10,000 baht notes next week maybe?

 

 

Several words spring to mind. [<deleted>]

 

"Management Economics."

 

Both of these are sadly misunderstood in Thailand. 

Many industries are built around domestic and export markets. 

Domestic is normally made during normal periods and exports are made using incremental rates.

 

Quite simply if the domestic economy is out of kilter the ability to manufacture for export does not have a sound footing..

Throw in the rampant baht and in a nutshell nobody can produce anything for export in Thailand. 

Not only does it depend upon the daily local consumption  but also overseas countries being able to buy at an affordable baht rate.

 

Currently costs about 30% more to buy any product made in Thailand and export it...

So how do you export?

 

The big companies rely heavily on 2 shift 100 hours a week production. 

 

It's simply not happening. 

And when the multi national companies pull out, they need huge incentives to return...

Edited December 25, 20196 yr by metisdead
Profane acronym removed.

Conscription for 10 years?

Look for 28 soon.  Anytime one of these clowns starts spouting off, you know things will get worse.

The Thai economy is where the elites want it to be. 

_{I am quite happy as it is, keeps all those nasty tourists away....}

Why would they tell Donald Trump they want to devalue their currency. He's going to put a bunch of sanctions on them. He doesn't give a toss whether poor or middle income countries and people get poorer. In fact he wants that to happen so that he and his buddies can get richer. 

Posts using trolling memes have been removed.