BOT expected to check baht's volatility as currency weakens

By THE NATION

 

 

The baht on Thursday (March 19) opened at Bt32.56 per US dollar, weakening from Wednesday’s close of Bt32.47.

 

The Thai currency is expected to move at between Bt32.45 to Bt32.75 per US dollar, SCB Securities senior market strategist Jitipol Puksamatanan said.

 

“The baht faces a sharp problem of liquidity. Also, its daily direction is clearly pointed by the direction of Asian stock markets,” he said. “However, we believe that the Bank of Thailand would step in to take care of the baht’s fluctuation in the future, since the current currency movement was improper for businesses.”

 

On Wednesday night, the S&P 500 and Euro Stoxx 50 contracted by 5.18 and 5.72 per cent, respectively. At the same time, the dollar has strengthened continually by 3 per cent, while its index rose by 98 points, due to investors’ concerns on the slowdown in the economy, the virus situation, and the US government’s policies.

 

“One currency needing close monitoring at this time is the UK pound, which has fallen to its lowest level since 1985,” the strategist said.

 

Source: https://www.nationthailand.com/news/30384398

 

-- © Copyright The Nation Thailand 2020-03-19

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6 minutes ago, webfact said:

“One currency needing close monitoring at this time is the UK pound, which has fallen to its lowest level since 1985,” the strategist said.

Way its going they we could be wiping our bottoms on fivers soon

if they want some tourists back they better let it go to around 35 baht to the USD.... but that's just me being selfish

Edited March 19, 20206 yr by Mavideol
missed the currency info

2 minutes ago, Mavideol said:

if they want some tourists back they better let it go to around 35.... but that's just me being selfish

I hope you are talking about the USD rate and not the GBP rate ????

Edited March 19, 20206 yr by Maverell

1 minute ago, Maverell said:

I hope you are talking about the USD rate ????

sure...sorry will correct

10 minutes ago, RichardColeman said:

Way its going they we could be wiping our bottoms on fivers soon

Be cheaper than bog roll....saw double pack of Andrex super soft on eBay for 100 quid

10 minutes ago, baansgr said:

Be cheaper than bog roll....saw double pack of Andrex super soft on eBay for 100 quid

I'm actually wondering if my luggage contains a dozen toilet rolls will be pilfered by Thai luggage handlers tonight on the night bird

Totally knackered here in Australia ! Today at Vasu   B18.5 to A$1. Down 2 baht in 2 days. 

1 hour ago, Mavideol said:

if they want some tourists back they better let it go to around 35 baht to the USD.... but that's just me being selfish

I just read that the USD was strengthening worldwide during this volatile period largely because it's the world's reserve currency.  So yeah, maybe 35 is possible....at some point.

I returned to the UK on the 20th last month missing my fathers death by hours but the only fortuitus decision/thing that has gone my way the last month was to pack my suitcase with toilet and kitchen rolls to prevent it getting crushed in transit and can now while away the hours days weeks and months now stranded here building towers out of my priceless commodity???? 

Make everyone happy.  Devalue the Baht--how about 30% lower?

1 hour ago, sammieuk1 said:

I returned to the UK on the 20th last month missing my fathers death by hours but the only fortuitus decision/thing that has gone my way the last month was to pack my suitcase with toilet and kitchen rolls to prevent it getting crushed in transit and can now while away the hours days weeks and months now stranded here building towers out of my priceless commodity???? 

Need to do like that:

1 hour ago, CptnAhab said:

Need to do like that:

That wont work

     I thought currency manipulation is a crime, So when is something to get done. 

On 3/19/2020 at 4:21 PM, CptnAhab said:

Need to do like that:

IQ tests are no longer being used. The new method is to start with plus 150, and deduct one point for each loo roll you have stored in the cupboard.

On 3/19/2020 at 2:49 PM, Isaan sailor said:

Make everyone happy.  Devalue the Baht--how about 30% lower?

The Bhat is being kept artificially strong to keep the top hisos in and out of the country happy, when they exchange their legitimate and illegitimate earnings for goods and property in Europe and the US. That this is destroying Thai exports and tourism matters not one jot to them, never did.