madmitch Posted August 12, 2020 Share Posted August 12, 2020 Is it the strengthning baht or the weakening dollar? The baht has been relatively stable against most othe currencies. Link to comment Share on other sites More sharing options...
Wombo1 Posted August 12, 2020 Share Posted August 12, 2020 They could also sell down their foreign reserves to buy foreign equipment, then their would be less confidence in the baht. Currently Thailand had the 11th highest reserves in the world 1 Link to comment Share on other sites More sharing options...
mlmcleod Posted August 12, 2020 Share Posted August 12, 2020 The strong baht hits Thailand's exports at a time when tourism is at rock bottom. They are encouraging purchasing outside the country when they need local employment. Eventually they will convert a third world country to an impoverished fourth world country. 1 Link to comment Share on other sites More sharing options...
CNXexpat Posted August 12, 2020 Share Posted August 12, 2020 6 hours ago, KarenBravo said: Swings and roundabouts. Not great for exporters, but very nice for importers. Right - but Thailand is an export nation, they export more than import. 1 Link to comment Share on other sites More sharing options...
kingofthemountain Posted August 12, 2020 Share Posted August 12, 2020 6 hours ago, Banana7 said: There is a lot Bank of Thailand (BOT) can do to lower the value of the baht. There are lots of baht currency restrictions which can be eliminated by BOT. BOT severely restricts the outflow of funds. I totally agree and they could also reduce the inflow of cash there is actualy no control on the money flooding i have personaly seen 3 chineses in their 30' with few old luggages full of cash enter in Kasikorn and deposit the money it took more than 2 hours to the bank machine to count the few millions bahts you can not do something like that in a ''normal'' bank in a ''normal'' country but no problem in Thailand, nobody ask you where the money is coming from amazing Link to comment Share on other sites More sharing options...
scammed Posted August 12, 2020 Share Posted August 12, 2020 6 hours ago, Isaan sailor said: Central bankers to exporters and their millions of employees: sorry, we have orders to keep the Baht strong—go back to the farms for work... no, thailand dont want to end up on US watch list for manipulating currency, its market forces that dictate THB, as it should. im speculating investors are fleeing pound and dollar and look at THB as the safest option, -expect a stronger baht and less exchange Link to comment Share on other sites More sharing options...
holy cow cm Posted August 12, 2020 Share Posted August 12, 2020 Not a good time for the baht to get stronger. Is going to hit US expats and exports hard. I just transferred a very large sum of money 2 weeks ago and am at least happy that it wasn't now or next week. Link to comment Share on other sites More sharing options...
Popular Post herfiehandbag Posted August 12, 2020 Popular Post Share Posted August 12, 2020 (edited) 5 hours ago, potless said: As I am not an economist, I expect to be shot down in flames here. Why cant the Thai gov. just do the same as the west? Print money. Distribute the money to the unemployed which would help to keep local economies afloat and maybe take the edge off a strong Baht? I am no economist either, as the most cursory of glances at my financial affairs would reveal. I am however a keen (if cynical) observer of the way this (my "adopted") country is run. Could I suggest that the economy and it's rather splendid reserves are regarded as belonging to the small if very influential and wealthy section of society to whom this government is beholden, and whose wealth is often (mainly) deposited and invested overseas. Any move such as you suggest which may weaken the currency, would reduce their wealth, and is therefore a non starter. Besides, the unemployed can always go back to their farms... Edited August 12, 2020 by herfiehandbag 3 1 Link to comment Share on other sites More sharing options...
Popular Post kingofthemountain Posted August 12, 2020 Popular Post Share Posted August 12, 2020 6 minutes ago, herfiehandbag said: I am no economist either, as the most cursory of glances at my financial affairs would reveal. I am however a keen (if cynical) observer of the way this (my "adopted") country is run. Could I suggest that the economy and it's rather splendid reserves are regarded as belonging to the small if very influential and wealthy section of society to whom this government is beholden, and whose wealth is often (mainly) deposited and invested overseas. Any move such as you suggest which may weaken the currency, would reduce their wealth, and is therefore a non starter. Besides, the unemployed can always go back to their farms... Sad but true Thailand is run like a private corporation by 1% of the wealthest for their only own interests, to the detriment of all the others 3 Link to comment Share on other sites More sharing options...
DrTuner Posted August 12, 2020 Share Posted August 12, 2020 5 hours ago, potless said: As I am not an economist, I expect to be shot down in flames here. Why cant the Thai gov. just do the same as the west? Print money. Distribute the money to the unemployed which would help to keep local economies afloat and maybe take the edge off a strong Baht? That's the race to the bottom. You don't want to join the group of losers if you absolutely don't have to. Printing money comes at a price to pay later. Thais will silently suffer without much resistance, so let 'em, is the MO of the elites since.. a few centuries? 1 Link to comment Share on other sites More sharing options...
Blumpie Posted August 12, 2020 Share Posted August 12, 2020 7 hours ago, sanuk711 said: So Blumpie, what happens to a country that can see that their only way out of an impending crises --the mass unemployment and everything that comes with it, is to lower their Currency--- What do they (rest of the world) do to a currency manipulator?........... I know in the case of Chine it is---just buy more off of them. What would it be in Thailand's situation? Oh I don't know. I don't set the rules, the world does. The USA has Thailand on its watch list as a currency manipulator. One more time and they will get slapped with it and there are significant consequences. Link to comment Share on other sites More sharing options...
Blumpie Posted August 12, 2020 Share Posted August 12, 2020 4 hours ago, madmitch said: Is it the strengthning baht or the weakening dollar? The baht has been relatively stable against most othe currencies. It only makes sense. The whole worlds economy is swirling right now. Link to comment Share on other sites More sharing options...
3NUMBAS Posted August 12, 2020 Share Posted August 12, 2020 the rise to their doom Link to comment Share on other sites More sharing options...
3NUMBAS Posted August 12, 2020 Share Posted August 12, 2020 1 hour ago, DrTuner said: That's the race to the bottom. You don't want to join the group of losers if you absolutely don't have to. Printing money comes at a price to pay later. Thais will silently suffer without much resistance, so let 'em, is the MO of the elites since.. a few centuries? italy and greece are printing and theyre floating along in the clouds Link to comment Share on other sites More sharing options...
ericthai Posted August 12, 2020 Share Posted August 12, 2020 12 hours ago, KarenBravo said: Swings and roundabouts. Not great for exporters, but very nice for importers. Really?? Did the cheese and wine price go down? Link to comment Share on other sites More sharing options...
Virt Posted August 12, 2020 Share Posted August 12, 2020 All I know if that the lower the thai baht is, the more I spend on a holiday. The higher it is the more I think about prices and spend less. When I look at how much I spent during my 12 times to Thailand, I actually use more money the cheaper it is. Must be some weird kind of reversed psychology. It's cheap so I save more if I use more ???? 1 Link to comment Share on other sites More sharing options...
potless Posted August 12, 2020 Share Posted August 12, 2020 8 hours ago, DrTuner said: That's the race to the bottom. You don't want to join the group of losers if you absolutely don't have to. Printing money comes at a price to pay later. I dont suggest they should damage their currency but maybe some helicopter money to assist those in need. Wishful thinking. Link to comment Share on other sites More sharing options...
Pattaya Spotter Posted August 13, 2020 Share Posted August 13, 2020 (edited) Good to see that the BOT understands the limit of its role in managing Thai monetary policy and Thailand's obligations as a member of the World Trade Organization and under its bilateral trade agreements with other countries. Edited August 13, 2020 by Pattaya Spotter Link to comment Share on other sites More sharing options...
Popular Post Artisi Posted August 13, 2020 Popular Post Share Posted August 13, 2020 On 8/12/2020 at 9:54 AM, KarenBravo said: Swings and roundabouts. Not great for exporters, but very nice for importers. if that's the case, why is it that all imports are seeing vast increases in price - of course its not gouging as no Thai would do that ..... 1 2 Link to comment Share on other sites More sharing options...
Artisi Posted August 13, 2020 Share Posted August 13, 2020 On 8/12/2020 at 9:55 AM, hotchilli said: Got it in one... I have friends in manufacturing, domestic and exports, they all say exports are now 50% of what it was last year and continuing to fall. good- might just knock a bit of sense into some people - but on the other hand maybe it wont - just increase the prices as usual - that will fix the problem ..... 2 Link to comment Share on other sites More sharing options...
KhunFred Posted August 13, 2020 Share Posted August 13, 2020 (edited) "A hard rains a gonna fall..." Edited August 13, 2020 by KhunFred 1 Link to comment Share on other sites More sharing options...
lavezzi Posted August 13, 2020 Share Posted August 13, 2020 On 8/12/2020 at 6:52 AM, potless said: As I am not an economist, I expect to be shot down in flames here. Why cant the Thai gov. just do the same as the west? Print money. Distribute the money to the unemployed which would help to keep local economies afloat and maybe take the edge off a strong Baht? You are inflating the bath so prices go up and the exchange rate remain the same. Link to comment Share on other sites More sharing options...
Artisi Posted August 15, 2020 Share Posted August 15, 2020 On 8/13/2020 at 6:39 PM, lavezzi said: You are inflating the bath so prices go up and the exchange rate remain the same. The Thai's are already doing a great job on inflating the Baht without additional effort. On 8/13/2020 at 6:39 PM, lavezzi said: Link to comment Share on other sites More sharing options...
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