Baht appreciation expected to be short-lived

[webfact]

Baht appreciation expected to be short-lived

By The Nation

 

Deputy PM Supattanapong Punmeechaow

 

The Thai currency will only strengthen for a short period as foreign investors are flocking to the markets, including Thailand, to seek profits at the end of the year, Deputy PM Supattanapong Punmeechaow said.

 

He added that the Bank of Thailand was closely monitoring the situation.

 

Meanwhile, the Federation of Thai Industries chairman Supant Mongkolsutree said the baht has risen 8.2 per cent since April this year to around Bt30.34 against the US dollar.

 

He added that the baht appreciated more than the Vietnamese dong, which means exports from Thailand are more expensive that those from its main competitor.

 

He said the baht has risen by 10 per cent if counting back from March this year, when it was Bt33 against the greenback.

 

Supant believes the most appropriate value for the baht should be Bt32 to the dollar.

 

Source: https://www.nationthailand.com/business/30398108

 

-- © Copyright The Nation Thailand 2020-11-18

 

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[Rodbayne94]

Baht 50  =  1 dollar U.S.A
PERFECT

[soalbundy]

3 hours ago, Rodbayne94 said:

Baht 50  =  1 dollar U.S.A
PERFECT

I don't think so, the dollar is losing ground not just against the Baht, huge national debt and political chaos. Citigroup expects the dollar to lose 20% next year. America is losing its soft power under Trump, the recently formed free trade group in Asia-Pacific zone consists of 15 nations, including China but not America which has largely ignored Asia and left the field open to China, Asia is the next powerhouse and America has deserted it (should have attended those intelligence meetings eh Trump)

[RotBenz8888]

4 hours ago, webfact said:

Baht appreciation expected to be short-lived

Onky been 20 years or so. 

[Paul Henry]

Thai Govt. Don't forget you are trying to bring back tourist. A high baht will not do that along with losing export markets. Act now!. Forget about your own personal gains, put Thailand first.

[Susco]

6 minutes ago, Paul Henry said:

Thai Govt. Don't forget you are trying to bring back tourist. A high baht will not do that along with losing export markets. Act now!. Forget about your own personal gains, put Thailand first.

 

When the tourists come back the baht obviously will rise even more.

 

Maybe the reason for those rises is tens of thousands of miles away from Thailand

[hotchilli]

6 hours ago, webfact said:

Supant believes the most appropriate value for the baht should be Bt32 to the dollar.

So make it happen....

[Gandtee]

One of Thailand's attractions as a holiday destination was that it was relatively cheap. Not anymore. Why would anyone in the west travel a few thousand miles for sea and sun when they can it it far more cheaply on the doorstep?

[2530Ubon]

Forget about tourism, that's not coming back for quite some time  - especially now that 500k in the bank is required for a 60 day tourist visa.

Act now to protect your exports - It's the only income stream you have, and these exports are getting less and less competitive each time the Baht strengthens.

[hotchilli]

20 minutes ago, Gandtee said:

One of Thailand's attractions as a holiday destination was that it was relatively cheap. Not anymore. Why would anyone in the west travel a few thousand miles for sea and sun when they can it it far more cheaply on the doorstep?

My friend who is now residing back in Germany with his Thai wife & daughter holiday in Egypt, they have a one month stay in a beach resort all inclusive, food, pool, amenities, creche etc. Only buy booze.

They say it costs half the price of a 2 week stay in Thailand, with flights substantially less.

Not sure about this year though.... that's another issue.

[JusticeGB]

Ask TAT for a definitive answer and it will change from hour to hour ????????

[puck2]

The covid-pandemie makes/has made a lot of economic problems in The USA and the EU. Many people of the middle and lower class will not consider having holidays in Thailand or anywhere else in a foreign country. Lower tourism = lower THB.

 

At the moment the THB seems to be a haven for the money of currencies with covid troubles. That rises the THB, although the Thai economy is struggling thanks to the (in)competence of the military leadership.

Edited November 18, 2020 by puck2

[pegman]

2 hours ago, Susco said:

 

When the tourists come back the baht obviously will rise even more.

 

Maybe the reason for those rises is tens of thousands of miles away from Thailand

? Please explain. I'm on the opposite side of this planet and only 8,000 miles away from there.

[mr336]

4 hours ago, soalbundy said:

I don't think so, the dollar is losing ground not just against the Baht, huge national debt and political chaos. Citigroup expects the dollar to lose 20% next year. America is losing its soft power under Trump, the recently formed free trade group in Asia-Pacific zone consists of 15 nations, including China but not America which has largely ignored Asia and left the field open to China, Asia is the next powerhouse and America has deserted it (should have attended those intelligence meetings eh Trump)

Yea Trumps had all bad numbers his whole presidency. And the $ falling in Covid times. What a loser. Must have been fraud all thru the 2016 election. Crazy people thinking fraud in 2020. Joe's the most trusted name in America. Did I mention loser?

[Isaan sailor]

“Baht appreciation expected to be short-lived”

How ‘bout, exports expected to be short-lived?

And where did they get that USD 30.34 on the Baht?  Try 30.20 today.

Might need to have a word with those Chinese money traders...

[Bangkok Barry]

2 hours ago, Gandtee said:

One of Thailand's attractions as a holiday destination was that it was relatively cheap. Not anymore. Why would anyone in the west travel a few thousand miles for sea and sun when they can it it far more cheaply on the doorstep?

 

And often find better quality, better infrastructure, better attitude. As you say, Thailand's main appeal was that it was good value. Now it isn't. The only thing that still is are top-end hotels.

[Mavideol]

3 hours ago, hotchilli said:

So make it happen....

agree... actions speak louder then words  555

[Isaan sailor]

57 minutes ago, Bangkok Barry said:

 

And often find better quality, better infrastructure, better attitude. As you say, Thailand's main appeal was that it was good value. Now it isn't. The only thing that still is are top-end hotels.

And pretty girls.

[KhunBENQ]

4 hours ago, 2530Ubon said:

Forget about tourism, that's not coming back for quite some time  - especially now that 500k in the bank is required for a 60 day tourist visa.

True. Winter high season is already in the bin.

 

2 hours ago, Isaan sailor said:

And where did they get that USD 30.34 on the Baht?  Try 30.20 today.

Money market rate right now 30.30. Seven day high 30.35.

Cash exchange, credit card rates etc. all different and lower.

[ChipButty]

It;s ok my Bitcoin is doing good

[hotchilli]

1 hour ago, Isaan sailor said:

And pretty girls.

I preferred them 10 years ago, now they're mostly packing a few extra kg's

[Isaan sailor]

21 minutes ago, KhunBENQ said:

True. Winter high season is already in the bin.

 

Money market rate right now 30.30. Seven day high 30.35.

Cash exchange, credit card rates etc. all different and lower.

It fluctuates for sure. Today’s low 30:14 on USD.   30.289 now.  Money market rate matters when you use a home country credit card for purchases. Buying Baht though, you get a real haircut on rates.

[Andy from Kent]

I wish I had a baht for each time I've read the baht will stop appreciating.

[jethro69]

29 minutes ago, Andy from Kent said:

I wish I had a baht for each time I've read the baht will stop appreciating.

Yep, that would make a Chang/week ????

[Isaan sailor]

3 minutes ago, jethro69 said:

Yep, that would make a Chang/week ????

Chang gives me a headache next morning.  I stick with Singha.

[Albert Zweistein]

8 hours ago, Isaan sailor said:

Chang gives me a headache next morning.  I stick with Singha.

Heineken to expensive ?

[pegman]

9 hours ago, hotchilli said:

I preferred them 10 years ago, now they're mostly packing a few extra kg's

Stop taking them to KFC

[tukadadoll]

On 11/18/2020 at 11:09 AM, 2530Ubon said:

Forget about tourism, that's not coming back for quite some time  - especially now that 500k in the bank is required for a 60 day tourist visa.

Act now to protect your exports - It's the only income stream you have, and these exports are getting less and less competitive each time the Baht strengthens.

Think patients and asylums. I attempted to buy rubber to export to Australia last year. The factory price here was more expensive than the landed price in Australia when purchased from Malaysia, all due to the  exchange rate.

[Eddy Ozark]

On 11/18/2020 at 12:53 PM, Isaan sailor said:

“Baht appreciation expected to be short-lived”

How ‘bout, exports expected to be short-lived?

And where did they get that USD 30.34 on the Baht?  Try 30.20 today.

Might need to have a word with those Chinese money traders...

Agree. There is no sign the BOT or anyone else in "government" has the least willpower to do anything at all. 

[Eddy Ozark]

On 11/18/2020 at 1:16 PM, Bangkok Barry said:

 

And often find better quality, better infrastructure, better attitude. As you say, Thailand's main appeal was that it was good value. Now it isn't. The only thing that still is are top-end hotels.

True. And the decline started a long time ago.