webfact Posted June 18, 2020 Share Posted June 18, 2020 Baht fluctuates amid speculation by foreign investors By THE NATION The baht opened at 31.16 to the US dollar on Thursday morning (June 18), strengthening from its previous close of 31.23. The Thai currency is expected to move between 31.05 and 31.25, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities. The US stock market on Wednesday night fell by 0.4 per cent, after it had increased for three consecutive days, while Euro Stoxx 600 recovered by 0.7 per cent, after Jens Weidmann, the Deutsche Bundesbank president, revealed European Central Bank policies to purchase risk assets. His statement lifted the German Ten-Year Treasury to -0.39 per cent, and the US Treasury dropped by 0.72 per cent. The strategist said that the central banks of Taiwan and Indonesia were expected to reduce their interest policy rate from 1.0 per cent and 4.25 per cent, respectively. Moreover, the Bank of England would increase its asset buying by 100 billion pounds, and keep the interest rate at 0.1 per cent. In the financial market, the dollar fell by 0.3 per cent, compared to other main currencies, while the yen and franc were strengthened as safe haven assets. The baht has been fluctuating more, due to speculation by foreign investors and selling by importers. However, the strategist said that the baht could trade at a more weakened rate like before the coronavirus spread. Source: https://www.nationthailand.com/news/30389835 -- © Copyright The Nation Thailand 2020-06-18 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted June 18, 2020 Popular Post Share Posted June 18, 2020 10 minutes ago, webfact said: previous close of 31.23. The Thai currency is expected to move between 31.05 and 31.25, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities. Gotta love a strategist that predicts it could go either up or down 5 1 7 Link to comment Share on other sites More sharing options...
NumbNut Posted June 18, 2020 Share Posted June 18, 2020 6 minutes ago, RichardColeman said: Gotta love a strategist that predicts it could go either up or down Best job in the world... how can you be wrong? 1 Link to comment Share on other sites More sharing options...
CNXexpat Posted June 18, 2020 Share Posted June 18, 2020 4 minutes ago, NumbNut said: Best job in the world... how can you be wrong? It could stay where it is, then he is wrong ???? 1 1 Link to comment Share on other sites More sharing options...
MasterBaker Posted June 18, 2020 Share Posted June 18, 2020 Dirty Farangs strike again 1 Link to comment Share on other sites More sharing options...
CorpusChristie Posted June 18, 2020 Share Posted June 18, 2020 3 minutes ago, MasterBaker said: Dirty Farangs strike again How does that fit into this story ? 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted June 18, 2020 Share Posted June 18, 2020 Easy for them to speculate. 10-year average USD/Baht: 32.40. Fair to say Baht at today’s exchange rate will not bode well for exporters, western tourism or expats. Thailand clearly the most expensive country in SE Asia. Link to comment Share on other sites More sharing options...
Popular Post Traubert Posted June 18, 2020 Popular Post Share Posted June 18, 2020 7 minutes ago, Isaan sailor said: Easy for them to speculate. 10-year average USD/Baht: 32.40. Fair to say Baht at today’s exchange rate will not bode well for exporters, western tourism or expats. Thailand clearly the most expensive country in SE Asia. Except Singapore, Malaysia, Chinese Hong Kong, Japan and S Korea. 1 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted June 18, 2020 Share Posted June 18, 2020 2 minutes ago, Traubert said: Except Singapore, Malaysia, Chinese Hong Kong, Japan and S Korea. Singapore a city-state. Would be like comparing Bangkok prices to upcountry prices. And last time I checked on my globe- Hong Kong (another city/state) and South Korea and Japan are not located in SE Asia. But you don’t need a globe—just use google maps... 1 Link to comment Share on other sites More sharing options...
fulhamster Posted June 18, 2020 Share Posted June 18, 2020 8 hours ago, RichardColeman said: Gotta love a strategist that predicts it could go either up or down But you need to worry when he already knows how high or low it could go. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted June 18, 2020 Share Posted June 18, 2020 18 hours ago, webfact said: However, the strategist said that the baht could trade at a more weakened rate like before the coronavirus spread. Lol Link to comment Share on other sites More sharing options...
Sydebolle Posted June 19, 2020 Share Posted June 19, 2020 Baht fluctuates until it will flatulent - good luck! 1 Link to comment Share on other sites More sharing options...
OJAS Posted June 19, 2020 Share Posted June 19, 2020 On 6/18/2020 at 11:32 AM, webfact said: while the yen and franc were strengthened as safe haven assets. The baht also appears to be a safe haven asset these days. 1 Link to comment Share on other sites More sharing options...
Trillian Posted June 19, 2020 Share Posted June 19, 2020 (edited) 19 hours ago, Isaan sailor said: Easy for them to speculate. 10-year average USD/Baht: 32.40. Fair to say Baht at today’s exchange rate will not bode well for exporters, western tourism or expats. Thailand clearly the most expensive country in SE Asia. A 10 year average exchange rate is meaningless, trend and value are best defined by the MA200 day which is currently even higher at 32.59. Most worrying is the future trend is towards 29.3 - 30.0 https://www.tradingview.com/chart/USDTHB/vlzWk300-USDTHB-Long-term-Sell-Signal/ Edited June 19, 2020 by Trillian Link to comment Share on other sites More sharing options...
Isaan sailor Posted June 19, 2020 Share Posted June 19, 2020 41 minutes ago, Trillian said: A 10 year average exchange rate is meaningless, trend and value are best defined by the MA200 day which is currently even higher at 32.59. Most worrying is the future trend is towards 29.3 - 30.0 https://www.tradingview.com/chart/USDTHB/vlzWk300-USDTHB-Long-term-Sell-Signal/ Either way, corporations will not relocate here with a constantly rising Baht. And exporters will no longer compete on the world markets. Tourists? Maybe they won’t notice or care—but some will, and make other plans. investors may see a stable government here—but an unstable currency will take a toll eventually. Link to comment Share on other sites More sharing options...
Trillian Posted June 20, 2020 Share Posted June 20, 2020 On 6/19/2020 at 3:32 PM, Isaan sailor said: Either way, corporations will not relocate here with a constantly rising Baht. And exporters will no longer compete on the world markets. Tourists? Maybe they won’t notice or care—but some will, and make other plans. investors may see a stable government here—but an unstable currency will take a toll eventually. The Baht is not unstable, the USD has swung from 89 to 99 over the space of 18 months, that's what makes the exchange rate fluctuate. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now