THB exchange rate to Euro steadily climbing for 1 month now

[BritManToo]

34 minutes ago, Susco said:

Here it is again, now please remind me when Covid started, and find me the rates of 41 to the Baht in the 10 months prior to that date.

COVID started when they closed the borders, March 20th as far as I'm concerned.

My invoice for 41.2276 was dated 3 Feb, so that was 6 weeks before COVID by my count.

 

Looking further back, I got 41.7155 in May 2019 ........... 41.823 in April 2019 .......

Would it just be easier if you just choose a start date for COVID you're happy with rather than me guessing.

 

Edited July 20, 2020 by BritManToo

[Oldie]

5 minutes ago, Paiman said:

A bit of 1997 would be nice.

 

Back then Thai government could not support their currency against the US$ and had to let it free float. 

I think it was around 55 then. And the banks paid unbelievable high interest rates. I was here at this time already but was sadly too scared to buy a lot of Baht. 

 

The question now is how the banks will survive Corona. Next year in August the deposit insurance will be reduced to 1 Million only (at the moment it is 5 Million). I think if the banks get into troubles the Baht could follow.

[OneeyedJohn]

14 minutes ago, Paiman said:

A bit of 1997 would be nice.

 

Back then Thai government could not support their currency against the US$ and had to let it free float. 

I remember that, was on holiday here to watch Tiger Woods, and was getting 95 baht to the £.

 

Hotel would only accept dollars, taxi drivers getting assaulted.

 

Crazy, crazy time.

[CNXexpat]

Investors don´t like unclear political situations and I guess the new protests will make the Baht fall. 

[Sophon]

2 hours ago, Susco said:

Thanks for confirming that you could NOT exchange at 41 Baht on 15 April, as per your screenshot it was 40.32 on that day

But that was not what you said.

Quote

Pound hasn't been above 40 for the last 10 months

So clearly your claim was wrong, the Pound has been above 40 many times over the last 10 months. Or are you of the mistaken belief that in order for the Pound to be "above 40" the rate has to break 41?

[hotandsticky]

7 minutes ago, Sophon said:

But that was not what you said.

So clearly your claim was wrong, the Pound has been above 40 many times over the last 10 months. Or are you of the mistaken belief that in order for the Pound to be "above 40" the rate has to break 41?

 

 

He just keeps lying and digging himself deeper.....

 

 

Attention seeking I imagine............... probably raised on the bottle rather than the t1t

[tiocfaidh]

2 hours ago, Oldie said:

In my experience the Baht is tied to the USD and here to a certain range. If the Euro goes up against the Baht it is because the Euro goes up against the USD. 

The UAE Dirham is pegged to the US Dollar and this is what it looks like. The Thai baht is not pegged to the dollar.

[KhunBENQ]

A completely derailed thread. Thanks for that

OP was starting about Euro to Thai Baht.

Just as a reminder.

Instead endless bickering and insult about GPB/THB rate and what the correct source is.

Neither any Thai bank TT rate or even Notes rate makes sense as a basis for discussion.

Currency market rates like shown by xe.com or transferwise.com makes sense.

Deduct about 0.5 Baht and you get Thai bank TT or the like.

GBP/THB currency market rate on 15. April 2020 was 41.5221.

 

Would be nice to get some comment/guess on future(!) development of THB vs. EUR, GBP etc.

The weakness seems a mix of economic (Covid) related factors and political (step down of competent ministers, problems finding adequate successors).

Political rates can be short lived.

 

[soalbundy]

22 hours ago, sezze said:

Looking at the chart , it looks like it has broken huge resistance at high 35 lvl , might now be heading to 37.5 , but in these times idk . Theres so much more going on then just charts , and it is difficult to tell .

The Euro, Pound, Aussie Dollar aren't going up, the Baht is going down.

[Peter Denis]

15 hours ago, KhunBENQ said:

...

Would be nice to get some comment/guess on future(!) development of THB vs. EUR, GBP etc.

The weakness seems a mix of economic (Covid) related factors and political (step down of competent ministers, problems finding adequate successors).

Political rates can be short lived.

 

Below an updated monthly overview as of today (Transferwise real exchange rate).

Already the 4th consecutive week that after the weekend (no trading) the Euro keeps steadily climbing against the THB.

 

[Farang99]

23 hours ago, stouricks said:

Look at GBP to THB since 1st July, 38 up to 39.8.

Today it has cracked the 40 baht ceiling. Long may the rise continue! The happy days when the baht hung around 60 seem like a mirage

[Farang99]

23 hours ago, stouricks said:

Look at GBP to THB since 1st July, 38 up to 39.8.

[owl sees all]

23 hours ago, Susco said:

Thanks for confirming that you could NOT exchange at 41 Baht on 15 April, as per your screenshot it was 40.32 on that day

Exchange rate on April 15th 2020 was 40.95.

[kingdong]

22 hours ago, Susco said:

 

COVID didn't start 2 months ago.

 

Just Sayin

 

And because you all elected an idiot to run the pound into the ground, you can't blame the Thais for that

the pound was overvalued just like the baht,the pounds levelled now its the bahts turn,you can't buck the markets.

[Logosone]

1 hour ago, Peter Denis said:

 

Below an updated monthly overview as of today (Transferwise real exchange rate).

Already the 4th consecutive week that after the weekend (no trading) the Euro keeps steadily climbing against the THB.

 

Well, spotted, the Euro has been climbing steadily, against all currencies. This has nothing to do with weakness of the Thai economy, it has everything to do with the Euro.

 

The Euro is the anti-Dollar. Because the demand for the dollar was very weak due to the fact that Covid19 started to recede as a threat in Europe and Asia but was still a threat in the US, plus there were vaccine rumours, and due to the fact that initial hopes of recovery reduced demand for the ultimate safe-haven currency, dollar, this in turn meant currencies like Euro, and indeed GBP could make a comeback. A small one.

 

The massive EU stimulus package continues to drive demand for the EUR.

 

If the EU fail to agree a stimulus package then the EUR will fall. If they agree, there could be another slight rise in the EUR.

[Isaan sailor]

I think China rearranging their currency basket—buying Euros, selling USD.  Funny, though, when the Euro rises precipitously, it seems to drag the USD up...

[Logosone]

9 minutes ago, Isaan sailor said:

I think China rearranging their currency basket—buying Euros, selling USD.  Funny, though, when the Euro rises precipitously, it seems to drag the USD up...

No, generally when the EUR rises the USD falls and vice versa. You will notice currently when the EUR was rising the USD was falling. That's because the EUR is the anti-dollar.

 

China may rearrange a little, but if they start selling their US holdings in large numbers the price would fall dramatically so they can't sell in big numbers.

[Peter Denis]

10 minutes ago, Logosone said:

No, generally when the EUR rises the USD falls and vice versa. You will notice currently when the EUR was rising the USD was falling. That's because the EUR is the anti-dollar.

 

China may rearrange a little, but if they start selling their US holdings in large numbers the price would fall dramatically so they can't sell in big numbers.

Both the Euro and the US $ (as well as other currencies like GBP or Aussie $) have been rising against the THB during the last month.  The rise of the Euro was approx twice as strong than the rise of the US $ against the THB, hence the Euro did also strengthen against the US $. 

But it is the THB that has declined the most.

[bolt]

Western economies overpowered Thailand from 1990-2010 (ish)

Thailand made some great gains over the west 2010-2019

The THB now appears to have reached its peak, ( but I’ve been hearing this from expats for the last 10 years, it will crash, it has too crash)

 

Meanwhile, exports are already declining. They dropped for the third straight month in May, falling 5.79% from a year earlier. That was worse than the 3.6% decrease analysts had projected in a Reuters poll.

The country’s central bank could give in to pressure and cut rates to curb the rising baht, economists said. Still, they were not optimistic about the effectiveness of such a move.

I believe the Thai central bank are (were) completely stubborn to weaken the THB, but perhaps this is now changing

Edited July 21, 2020 by bolt

[Logosone]

Just now, Peter Denis said:

Both the Euro and the US $ (as well as other currencies like GBP or Aussie $) have been rising against the THB during the last month.  The rise of the Euro was approx twice as strong than the rise of the US $ against the THB, hence the Euro did also strengthen against the US $. 

But it is the THB that has declined the most.

Obviously if you look a small snapshot that can happen. However, if you look at the big picture you will see that the USD has been falling against the TBH from 1st April to 1st July. It has now, as of today, nowher near regained the same level as of 1 April.

 

However EUR has. It did not have the same pronounced fall 1 April to 1 July which the USD did, it as up and down against the THB. Now having regained and passed the previous high of April.

[Logosone]

But you are right, actually they were both up against THB in July. 

 

So maybe this does have something to do with the Thai economy.

[ThaiFelix]

On 7/20/2020 at 12:16 PM, hotandsticky said:

 

 

He just keeps lying and digging himself deeper.....

 

 

Attention seeking I imagine............... probably raised on the bottle rather than the t1t

I bet he is a Trump supporter, they never give in even when the writing is on the wall lol

[Max69xl]

On 7/20/2020 at 8:57 AM, sezze said:

Looking at the chart , it looks like it has broken huge resistance at high 35 lvl , might now be heading to 37.5 , but in these times idk . Theres so much more going on then just charts , and it is difficult to tell .

It's mainly because of the $ which gets weaker every day. Every currency getting stronger against the $, gets stronger against the THB. 

[Logosone]

52 minutes ago, Max69xl said:

It's mainly because of the $ which gets weaker every day. Every currency getting stronger against the $, gets stronger against the THB. 

Exactly right.

[maxcorrigan]

On 7/20/2020 at 9:19 AM, Susco said:

Sure, 2018 was before covid

 

Pound hasn't been above 40 for the last 10 months

40.1209 This morning 22/07 10am

[Max69xl]

53 minutes ago, maxcorrigan said:

40.1209 This morning 22/07 10am

Just 39.7125 TT buy rate at Bangkok Bank this morning.  

[Logosone]

USD Index broke through the support of 95. Will be interesting if it keeps sliding as people say or starts to recover.

 

[Peter Denis]

Euro keeps climbing slowly but steadily against THB.

- - - -

Below a screenshot from TransferWise.

Last month rate (June 23) > 1 Eur = 34,8717

Today (July 23) > 1 Eur = 36,6049

 

Edited July 23, 2020 by Peter Denis

[Logosone]

Yes, Dollar weakness continues. There are rumours the SP will go southwards. 

 

 

[Peter Denis]

When I started this thread July 20, the exchange rate was 1 Eur = 36,2839

The THB exchange rate to Euro has been steadily climbing for over 1 month now.

It looks as if today it will go over 37 THB.

- - - -

Below a screenshot from TransferWise.

Last month rate (June 27) > 1 Eur = 34,6795

Today (July 27) > 1 Eur = 36,9526