Coronavirus outbreak has turned Asia’s best-performing currency into one of the worst

[Caine]

Typical, the end of humanity is nigh ( coronavirus ). And what do this avarice mob talk about ? you've guessed it money, money, and more money. What an absolute shower of <deleted>.

[champers]

23 minutes ago, Caine said:

Typical, the end of humanity is nigh ( coronavirus ). And what do this avarice mob talk about ? you've guessed it money, money, and more money. What an absolute shower of <deleted>.

Money/currency is the thread topic. If you want to discuss solely Coronavirus take your pick from numerous threads already running or maybe start your own.

[sambum]

20 hours ago, geisha said:

Why did the baht drop last week, 34.60 B to 1 euro , and now it’s back to 34 ?? Is it likely to drop again soon ? 

Same with the British Pound - went up to 41 and now back down to 40

[sambum]

2 hours ago, Bangkok Barry said:

 

I think you misunderstand. What people who live in Thailand dislike so much is that the value of their income from overseas has plummeted - in my case by nearly 50 per cent since I first began to live here. Add to that the massive inflation in Thailand, where prices often increase by 10-20 per cent at a time when the norm in most other countries is 1-2 per cent, it starts to get nasty. So if the value of the currency falls back again, largely due to the idiotic policy of sucking up to the Chinese (remember, many Thais have Chinese background) and discouraging everyone else, I really have no sympathy at all.

 

So it has nothing to do with disliking the place, as you suggest. It has a lot to do with Thailand offering third world goods and services at what are now first world prices. As for the old chestnut of why are you still here (a variant of why don't you go back where you come from), many have family and roots in Thailand.

Well put! I try to explain to my Thai wife about the value of the baht to the British pound, and that I used to get in excess of 70 and now it's down to 40 - it's pointless, as all she understands is the amount of baht I give her every month is just the same!

 

And my pet hate? "why don't you go back where you come from" (NOT from my wife, I hasten to add!)

 

 

[HHTel]

10 minutes ago, sambum said:

Same with the British Pound - went up to 41 and now back down to 40

Yeh but that's to do with Boris' mouth.  It was doing well then he had to open his mouth and put 'no deal' back on the table.  It dropped immediately against the dollar, the baht and others.

[saengd]

4 hours ago, ThailandRyan said:

External from China is where Thailand became dependent.  Purchases of Military goods, and importing the tourists as the primary source of tourism.  Should have spread the wealth and not been so hard on the Western/European tourists.  Back in 2011 the Visa from the US to come here was free.  Now its pushed in a different location.  How about making it a level playing field for all who want to come visit or live here.  The Visa, and extension issues have become another cluster.  Why are folks from the Asean countries held to a different standard for obtaining there extensions of stay, why are they given 2 year extensions for a job related visa extension, when we have to jump through the hoops every year.  If you want the economy to stabilize then you have to soften the stance of Good Guys In/ Bad Guys out. Money talks and <deleted> walks. 

And as things stand it's Chinese money that talks whilst the other one has walked!

[saengd]

3 hours ago, Bangkok Barry said:

 

I think you misunderstand. What people who live in Thailand dislike so much is that the value of their income from overseas has plummeted - in my case by nearly 50 per cent since I first began to live here. Add to that the massive inflation in Thailand, where prices often increase by 10-20 per cent at a time when the norm in most other countries is 1-2 per cent, it starts to get nasty. So if the value of the currency falls back again, largely due to the idiotic policy of sucking up to the Chinese (remember, many Thais have Chinese background) and discouraging everyone else, I really have no sympathy at all.

 

So it has nothing to do with disliking the place, as you suggest. It has a lot to do with Thailand offering third world goods and services at what are now first world prices. As for the old chestnut of why are you still here (a variant of why don't you go back where you come from), many have family and roots in Thailand.

I'm in the same boat that my home currency has also plummeted by 50% against THB. But that doesn't stop me from seeing the country and especially the economy in a fair light whilst not resorting to slagging off everything Thai at every opportunity. 

 

Sadly however you are incorrect when it comes to inflation which has remained very low for many years, that in itself is a part of the problem with the Thai economy. For the past five years especially inflation has remained under 1.0%. https://tradingeconomics.com/thailand/core-inflation-rate

 

Of course inflation is not very low if you consider items outside of the basket of goods that comprise the measure of inflation. For western expats in particular, those who buy imported goods the place can be expensive. 

[bander]

21 hours ago, lazygourmet said:

1997 came to mind. 

I remember that economic crash in 97 who was made by retired Army general Chavalit Yongchaiyudh "Big Jiew" Thailand's 22nd Prime Minister of Thailand from 1996 to 1997.

Why is the thai economy collapsing when army generals trying to run this country? Any conspiracy theory's?  

Rumors that Chavalit made a huge profit from the thai bath collapsing in 97 after he changed all his savings to US$ just days before the crash. Can anybody confirm this?

 

[gerritkaew]

i be pleased to hear this..

Lets hoop this will stay for some time.

[Janner1]

23 hours ago, 4MyEgo said:

The above said, will be keeping my eye on some opportunities, might be a few Rolex's up for sale cheap in a month or two or three.

If you mean the real one’s I think we all know someone who will have borrowed them long before you get to hear of them.

[saengd]

55 minutes ago, bander said:

I remember that economic crash in 97 who was made by retired Army general Chavalit Yongchaiyudh "Big Jiew" Thailand's 22nd Prime Minister of Thailand from 1996 to 1997.

Why is the thai economy collapsing when army generals trying to run this country? Any conspiracy theory's?  

Rumors that Chavalit made a huge profit from the thai bath collapsing in 97 after he changed all his savings to US$ just days before the crash. Can anybody confirm this?

 

Only conspiracy theorists can! Big sigh!!

 

Chavalit didn't make the 1997 crash happen, a number of factors coming together over time did. Offshore foreign currency loans to Thai corporations were the major factor, foreign currency reserves invested in long dated securities was another. It's actually extremely difficult for a single person to crash the economy, believe it or not!!

 

BTW the Thai economy is not crashing, sorry to burst your bubble, exports are just now coming off an all time high, foreign currency reserves are at an all time high and the the currency, THB, was the best performing currency globally last year.

 

 

[Scott Tracy]

It will continue to go up and down like the proverbial whore's draws, as the currency is dependent on other student's performance. 

 

The pound GBP recently has been 37 baht, 42 baht and is now 40.5 baht. No one can tell me this is just to do with the baht. It has a lot to do with confidence in the GBP generally. This applies to all currencies.

[WhatupThailand]

Every thing well said, But this is Karma Payback time, and it is just starting.

 

[saengd]

7 minutes ago, WhatupThailand said:

Every thing well said, But this is Karma Payback time, and it is just starting.

 

Only in your dreams is it so.

[bander]

On 2/6/2020 at 5:41 PM, 4MyEgo said:

I missed that one, x wife back in the old country just gave birth to our first daughter and I was completing my second degree while working as well, my head was truely up my rear, with her post natal depression as well, doctors excuse, with my reply being, nah, she's been like that, i.e. a spoilt Greek Princess since the day I met her, her father took the opportunity to kick her out when he found out about me and there I was, "sucker", true story ????

 

Thank you for sharing, have you tried to join any support groups for "abused husbands"?

[updownbetween]

On 2/6/2020 at 10:41 AM, Lacessit said:

The coronavirus fatalities are far worse than the Chinese authorities are admitting. Entire supply chains are being shut down as cities in China are in lockdown. It is not good news for anybody, with the possible exception of the medical industry.

 

 

This is not good news indeed. it is in fact a disaster. ☹️

 

 

 

 

[Sonhia]

Usual passing of the buck, 555, plus pointing of the finger , which is apparently a rude gesture within fickle Thai culture, much the same as prostitution or gambling being illigal, but allowed to openly continue...

 

Thai cannot lose face, but it is happening.

 

But hey, this complete mess is because of Westerners, after all, who eise is to blame? Westerners are reluctantly accepted because they are viewed as waking ATMs and used as scape goats to point the finger at when things go wrong, and constantly reminded that they are not really welcome by means of persistant racial remarks and gestures.

 

Paradise.. Really?

 

All bad things come to and end...

Edited February 7, 2020 by Sonhia
Edit

[Susco]

On 2/6/2020 at 5:41 PM, 4MyEgo said:

her father took the opportunity to kick her out when he found out about me and there I was, "sucker", true story

Going by your posts and username on this forum, your ex father in law was a man who knew the world.

[garyk]

17 hours ago, saengd said:

Almost everybody in this thread seems to really enjoy being critical of Thailand and seeing the country get hurt or damaged as result of the virus, the baht, the economy, the government. I'm guessing none of you actually live in Thailand and that you're all just posting from bedsits in Morecambe or Bangor, if that's not the case and you actually live here, why are you still here if you dislike the place so much?

I left after 10 years, it is an extremely bad place for tourists and expats IMHO. Pollution, banking that gouges tourists, rip offs, it was ok until the banks, and pollution got out of control. 

I hate to see the virus hurt anyone, but Thailand is a festering tourist trap that is only going to get worse.

Edited February 7, 2020 by garyk

[Bell1234]

Not against the British pound it ain't.. Gained 2% this week against the £

[keysersoze276]

17 hours ago, saengd said:

Almost everybody in this thread seems to really enjoy being critical of Thailand and seeing the country get hurt or damaged as result of the virus, the baht, the economy, the government. I'm guessing none of you actually live in Thailand and that you're all just posting from bedsits in Morecambe or Bangor, if that's not the case and you actually live here, why are you still here if you dislike the place so much?

 

Edited February 7, 2020 by keysersoze276
Wifi or ipad fail

[HHTel]

1 hour ago, Bell1234 said:

Not against the British pound it ain't.. Gained 2% this week against the £

Wrong way round.  GBP weakened against the dollar and other currencies after our leader Boris opened his mouth and put 'no deal' back on the table.

 

Nothing to do with gaining against GBP, quite the opposite.

[4MyEgo]

19 hours ago, bander said:

Thank you for sharing, have you tried to join any support groups for "abused husbands"?

That was back in 99, first thing I did was buy a Kawasaki 1100 and went for long rides every second weekend with a group of 10 of divorced mates, which included her brother and first cousin, we had no issues, they knew how their sister and cousin was. 

 

Kept busy working and studying to finish off my 2nd degree and then landed the big opening which tripled my salary, she then went me for more child support, so I formed a company and gave her what I felt was reasonable, i.e. what she was getting before I completed my degree, no point in throwing money at her and it was all legal, companies have expenses you know, that said as we had the child on a shared cared basis as per the court orders, i.e. one week her and one week me, she had to also pay me child support, however, she too had a company, so what's good for the goose is good for the gander ????

 

Long of the short the child was well looked after when in my care, whilst the mother maintained best she could her new wardrobe, makeup and the rest from whatever she got from the child support that was going towards my daughter.

 

I remarried and have 2 more gorgeous girls, all 3 of my girls love their mum, and 2nd mum, I am happy, the x never repartnered, although she did try on many many many occasions I was told, pity, but sh-t happens I suppose. 

[4MyEgo]

14 hours ago, Susco said:

Going by your posts and username on this forum, your ex father in law was a man who knew the world.

Old school pesant Greek who took the opportunity to destroy both his daughter and sons happiness, total control freak, sticking his nose into everything he could, always making them feel guilty, son is 60 this year, never married, counteless failed relationships because has always wanted his fathers approval, same with the x. Not my problem, total family is warped. I moved on a long time ago and got away from his deranged mind, albeit it my daughter who is 23 is the only grandchild who will inherit millions, so I am happy for her.

 

My user name used to belong to a personal number plate on a car I once owned back in 1974, apart from hiring it out for weddings, it was a Silver Shadow, you can work out the rest ????

 

 

 

Edited February 8, 2020 by 4MyEgo

[ParkerN]

Nonono. Don't be fooled by western thinking. This is all a part of the grand plan. Thailand only allowed te virus to get in in order to make China fell less isolated.

 

The TAT has already said that twice as many Chinese will visit in the second half of the year, so the cash will be made up and then Thailand will power into 2021.

 

Thais know best, and lies do best. Always remember.

 

[Vascoda]

On 2/6/2020 at 9:25 AM, champers said:

he Baht has moved from 39 to 40 against the pound. I won't be dancing in the streets till it gets to 50. Hope I'm still around to see it.

For thousand pound British pensioners, it is a gain of 1,000 baht a month or just over their wife visa requirement and an additional 40 BHT pork soup.

Edited February 8, 2020 by Vascoda

[sydneyjed]

Chinese factories will not be back to normal for at least the next ten days after Chinese New Year..FACT!..just got a email from there!What will this mean in the short term is no one is earning money when they are obviously not able to travel back from provinces to work.Emails from agents and factory executives give the same information as we have..in short they don't know when orders will be started,finished and shipped to companies,outlets and shops ..a nightmare!I can tell you now this is going to cause a whole world of pain and at best a mini- recession if not a long term one..The Chinese certainly didn't/don't want this let alone us!

[saengd]

The factory closures in China and the disruption of the supply chain means that much of Thai manufacturing and assembly business is going to sit idle. That combined with the drought and its impact on agriculture and exports, along with the inevitable drop in tourist numbers, means this year is going to be tough for the Thai economy. 

[Nino1986]

Really is it the Corona Virus to blame? Or Prayut for forcing other investments out, forcing other non-asian foreigners out and letting get Chinese all? It could happen many things that could hurt China in longterm and Prayut putting everything into China was wrong decision, is not about the Virus, and yet those who believe that THB will skyrocket back i really dont believe in that do you really believe to TAT that after virus is stop spreading and dissapear that "double Chinese tourists will come than planned"? I hope Thai people will realise sooner or later that this Military Ranger Prayut is not good for them, just his promises like 2015-2020 Thailand prosperity, well i was 4 from that 5 years in Thailand i really didnt saw much progress than rich became richier and poor poorer, most things are more expensive now, PM 2.5 high every high season, draughts in countryside still same if not worse...BKK didnt change much except from few BTS lines expanded and condominiums built.

[saengd]

31 minutes ago, Nino1986 said:

Really is it the Corona Virus to blame? Or Prayut for forcing other investments out, forcing other non-asian foreigners out and letting get Chinese all? It could happen many things that could hurt China in longterm and Prayut putting everything into China was wrong decision, is not about the Virus, and yet those who believe that THB will skyrocket back i really dont believe in that do you really believe to TAT that after virus is stop spreading and dissapear that "double Chinese tourists will come than planned"? I hope Thai people will realise sooner or later that this Military Ranger Prayut is not good for them, just his promises like 2015-2020 Thailand prosperity, well i was 4 from that 5 years in Thailand i really didnt saw much progress than rich became richier and poor poorer, most things are more expensive now, PM 2.5 high every high season, draughts in countryside still same if not worse...BKK didnt change much except from few BTS lines expanded and condominiums built.

 

"most things are more expensive now,"

 

Core inflation has been less than 1% per year for the past five years.

 

https://tradingeconomics.com/thailand/core-inflation-rate