Baht strengthens

By THE NATION

 

 

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

The Thai currency is expected to move between 31.28 and 31.48, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.

 

The strategist mentioned that US markets last night (Thailand time) opened in a risk state. The S&P 500 increased by 1.2 per cent, the highest level in fifteen weeks.

 

However, US Ten-Year Treasury bonds fell to 0.88 per cent, while German bonds decreased by 4.2 basis points to -0.32 per cent after investors felt the economy would not see rapid recovery.

 

The current financial market trend was related to the dollar and other currencies weakening. The yen strengthened due to investors’ concern that the US might sanction Chinese officials over the Muslim Uighur issue, Jitipol said.

 

In Thailand, the baht moved along with other Asian currencies despite worries over an economic recovery.

 

In the short term, the baht will not strengthen fast, Jitipol said.

 

He advised investors to monitor the US Federal Open Market Committee meeting on Wednesday and Thursday. If the Fed decides to go in for more relaxed monetary policies, additional capital would flow into emerging markets, Jitipol added.

 

Source: https://www.nationthailand.com/news/30389304

 

-- © Copyright The Nation Thailand 2020-06-09

 

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1 Satang  ?

regards Worgeordie

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

31.39 is stronger than 31.40?   really?  is this Math Thai style?

Y

7 minutes ago, BobBKK said:

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

31.39 is stronger than 31.40?   really?  is this Math Thai style?

 

Yes it is. If you are an American swapping out $1 you are now getting 0.1 baht less so the Thai currency is getting stronger

 

 

Edited June 9, 20206 yr by Chelseafan

5 minutes ago, BobBKK said:

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

31.39 is stronger than 31.40?   really?  is this Math Thai style?

You might want to have another look at your post.

2 minutes ago, Chelseafan said:

Y

 

Yes it is. If you are an American swapping out $1 you are now getting 1 baht less so the Thai currency is getting stronger

 

 

one Satang but i guess your point is valid ????

Edited June 9, 20206 yr by BobBKK

Just now, BobBKK said:

one Satnang but i guess your point is valid.

Yes I amended it ????

 

4 minutes ago, Chelseafan said:

Yes I amended it ????

 

Mea Culpa  ???? 

25 minutes ago, worgeordie said:

1 Satang  ?

regards Worgeordie

Many a mickle makes a  muckle.......

This is not new news. The baht has been strengthening against the dollar for the past couple of months.

But the Baht lost against the Euro - like the USD too. 

I repatriated funds when it was at 33.

US markets are sky rocketing now I fear any weakening of the the baht is gone for the time being.

17 minutes ago, statman78 said:

This is not new news. The baht has been strengthening against the dollar for the past couple of months.

Since October 2015 when it was 36.40 in fact, .

 

https://www.xe.com/currencycharts/?from=USD&to=THB&view=10Y

1 hour ago, webfact said:

He advised investors to monitor the US Federal Open Market Committee meeting on Wednesday and Thursday. If the Fed decides to go in for more relaxed monetary policies, additional capital would flow into emerging markets, Jitipol added.

Right!

 

This is polite way of saying that all that really matters is how much fake money the Federal Reserve is willing to create.

 

Some of this fake money is bound to search for better returns than the 0% or less offered in the West, and will land in emerging markets such as Thailand.

1 hour ago, dabhand said:

You might want to have another look at your post.

Give me a break it was writen at the crack of dawn.

 

Dawn wasn't too happy about it mind you ????

 

They need to keep the baht strong until after they have siphoned off most of this 1.9 trillion baht loan. 1 Satang makes quite a difference when exchanging that much.

1 hour ago, Phuketshrew said:

They need to keep the baht strong until after they have siphoned off most of this 1.9 trillion baht loan.

By the way, is there anything new about this loan?

 

Has it been officially confirmed, and did they explain where they plan to sell the bonds?

 

4 hours ago, BobBKK said:

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

31.39 is stronger than 31.40?   really?  is this Math Thai style?

Back to school for you, matey. 

1 hour ago, hobobo said:

Back to school for you, matey. 

READ the previous posts matey  ????

9 hours ago, BobBKK said:

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

31.39 is stronger than 31.40?   really?  is this Math Thai style?

Are you Father Dougal McGuire?

11 hours ago, BobBKK said:

The baht opened at 31.39 to the US dollar this morning (June 9), strengthening from its previous close of 31.40.

 

31.39 is stronger than 31.40?   really?  is this Math Thai style?

Quick on the gun to criticize Thailand ????. You are on the correct forum to criticize Thailand and Thai people even if you are wrong. ????????????????????

19 hours ago, webfact said:

Baht strengthens

Well that will keep all the businesses happy who are trying to trade with the rest of the world.. and keep foreign tourists at bay !

Teflon Baht strikes again.

31 minutes ago, hotchilli said:

Well that will keep all the businesses happy who are trying to trade with the rest of the world.. and keep foreign tourists at bay !

Teflon Baht strikes again.

More like foreign investors strike again.

Edited June 10, 20206 yr by Trillian