Baht hits lowest level in seven months amid virus worries

By The Nation

 

 

The baht depreciated to its lowest level in seven months on Thursday morning (January 30), touching Bt31.17 to the US dollar, down from Wednesday’s close of Bt31, Kangana Chockpisansin, senior analyst at Kasikorn Research Centre, said.

 

nvestors are worried about the impact of China’s virus outbreak, leading to sales of the baht. 

 

The research house said that other currencies in the Asian region also had weakened along with the baht. Sales of Thai shares by foreign investors are also attributed to the weakening of the baht, Kasikorn Research said, predicting the baht would move in a range of Bt31 to 31.20 against the greenback.

 

The impact of the coronavirus outbreak is seen as cutting into Thailand's current account surplus which in recent years had resulted in a relatively large surplus and pushed up the baht. This had caused concern among exporters who blamed the stronger baht for the slump in exports.

 

Source: https://www.nationthailand.com/business/30381297

 

-- © Copyright The Nation Thailand 2020-01-30

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And long may it continue.......dive dive dive....

Keep it dropping!

I'll celebrate when the thb/eur goes over 37 again, this is where it was when I first moved in. I also have a few large expenses coming soon so I'll gladly save a few % on my money transfers

11 minutes ago, yokat said:

I'll celebrate when the thb/eur goes over 37 again

When I came here, I was more lucky and the thb/eur was over 50 for a while, that time will never come again. However never say never again ^^

Bloody good news ,they might get the English going back there again 

It's just a blip. Gonna take a lot more than the flu to send it spiraling 

Edited January 30, 20206 yr by madmen

2 minutes ago, madmen said:

It's just a blip. Gonna take a lot more than the flu to send it spiraling 

Like a Chinese depression? 

WOW! What the lovely 'guests' wishes for Thailand!!!

Anyone surprised about the new immigration laws? I dunno about the Baht diving, but the immigration laws will sure rise...

Who's to blame?

5 minutes ago, ravip said:

WOW! What the lovely 'guests' wishes for Thailand!!!

Anyone surprised about the new immigration laws? I dunno about the Baht diving, but the immigration laws will sure rise...

Who's to blame?

Maybe the baht will dive and TAT will be courting the farang...'come back, all is forgiven', 'it was all a misunderstanding'.

15 minutes ago, Tayaout said:

Like a Chinese depression? 

Why do you say that?  What economic data are you using 

Edited January 30, 20206 yr by madmen

GOOD! 

Edited January 30, 20206 yr by metisdead
Oversize bold font reset to normal.

Be nice if they could spend this large surplus on things like the poor hospitals and education instead of tanks and Hublot's???? 

Bad news, coronavirus epidemic continues to spread.

 

Good news, Thai baht dropping in value. Sometimes out of disaster comes relief.

41 minutes ago, Tatman95 said:

Bloody good news ,they might get the English going back there again 

I could see it happening. Full page ads in US and European magazines encouraging us to enjoy the pearls of the Orient in Asia. Until we get a pandemic of our own.

Virus 10 Baht 0 !

16 minutes ago, sammieuk1 said:

Be nice if they could spend this large surplus on things like the poor hospitals and education instead of tanks and Hublot's???? 

There's lotsa Hubs in Thailand.

Wuuhuu! THB went down 0.01 in value compared to the NOK since yesterday lol

 

????

32 minutes ago, madmen said:

Why do you say that?  What economic data are you using 

China has put industrial city on lockdown. Multinational are closing stores and offices. It will slow down China economy while they resolve their issues and it will take several months to over a year. This will be felt worldwide. 

 

https://www.bloomberg.com/news/articles/2020-01-29/virus-blow-to-china-s-economy-to-be-worse-than-sars-nomura-says

 

https://www.forbes.com/sites/mikeboyd/2020/01/27/sudden-free-fall-chinaus-air-traffic/#701e9d0b208c

4 hours ago, petermik said:

And long may it continue.......dive dive dive....

Does this mean we want a full blown outbreak here? ????

I did better than that I got 31.19 to the dollar at exchange this afternoon. 

1 hour ago, sammieuk1 said:

Be nice if they could spend this large surplus on things like the poor hospitals and education instead of tanks and Hublot's???? 

With the military running the country it will never happen

36 minutes ago, BRUFC said:

Maybe the baht will dive and TAT will be courting the farang...'come back, all is forgiven', 'it was all a misunderstanding'.

Keep your fingers crossed. The 'farang' myth is fading fast, not only in Thailand,but around the world. It's not necessary for an explanation, posts herein on TVF is enough - it is just that one needs to read it with an open mind.

When the virus problem is solved the Baht will rise again.

I don't know about other countries, but Australia had around 450 deaths from the flu last year. Fewer than 200 deaths in a country of well over one billion would suggest it's not time to panic yet.

Edited January 30, 20206 yr by teatime101

Not gonna lie, I like it! 

Go Thailand Go!!!  

yes go down Thailand!!!

6 hours ago, yokat said:

I'll celebrate when the thb/eur goes over 37 again, this is where it was when I first moved in. I also have a few large expenses coming soon so I'll gladly save a few % on my money transfers

Your a lucky guy. I was here when the euro was 50. ☹️

3 hours ago, ravip said:

Keep your fingers crossed. The 'farang' myth is fading fast, not only in Thailand,but around the world. It's not necessary for an explanation, posts herein on TVF is enough - it is just that one needs to read it with an open mind.

Away with your racist nonsense pal.