Baht under pressure from BOT measures

[Susco]

14 minutes ago, Mucky said:

Weird.

No money circulating from tourist..

High export cost via soaring baht. 

Mass unrest in bkk with protest's everyday.

Mass unemployment.

Yet baht keeps surging ??? 

 

 

Taken all those factors into account, maybe after all it isn't the baht that is surging, but foreign currencies that are going down the drain.

 

However the baht has made the biggest gains, other Asian currencies have also increased against western currencies, and I doubt that all those Asian governments are manipulating their currencies

 

Edited November 19, 2020 by Susco

[Mavideol]

6 hours ago, keith101 said:

So what has been done ? 

it's slowly (very) slowly depreciating....it's at 1 USD = 30.41 Baht this morning was around 30.19 let's keep our fingers crossed  that will reach 32 by end of the week (2 days 555 )

[bkk6060]

Always find it interesting how the entire world seems to fluctuate based on the US markets.

Anyway, as the Baht gets stronger gold keeps taking a dump and the US markets are near highs.  Gold forecasters were saying 2300 on a 2nd US stimulus which seems dead now due to promising vaccines.

I would get out of gold before it goes much lower maybe to 1500. 

I see the Baht under 30 soon.

Good luck.

Edited November 19, 2020 by bkk6060

[Isaan sailor]

So I read some comments on another forum, and one chap seemed to understand why the Baht has gone so high vs USD (and all connected western currencies).

All about the 1%.  Wealthy Chinese buy condos and other real estate, (perhaps to rent daily to zero baht tourists).  The purchase takes Baht, and that lowers the Baht reserves in the local bank.  Money for the condo purchased, goes to the Thai 1% , and they in turn, buy high end western things or travel worldwide.  Bahts become scarcer—and so the Baht rises.  Of course, with foreign money, everyone involved gets a cut.

interesting theory—what do you think?

[Time to grow]

4 hours ago, Thaifly88 said:

interest rates are one way a central bank can have some control of exchange rates

 

Is there another way?

[Mavideol]

7 minutes ago, Time to grow said:

 

Is there another way?

printing more money

[Time to grow]

2 hours ago, natway09 said:

Interest rates are at an all time low, what else can they do ??

 

Central Bank Digital Currencies (CBDC's) will allow them to go to negative interest rates. CBDC's will also provide the means for vaccine tracking and vaccine enforcement should that become a thing. 

[Isaan sailor]

8 minutes ago, Time to grow said:

 

Is there another way?

Sure, stop taking foreign inflows—just turn off the spigot for a few weeks.

[Susco]

20 minutes ago, Isaan sailor said:

So I read some comments on another forum, and one chap seemed to understand why the Baht has gone so high vs USD (and all connected western currencies).

 

So to be correct, there was one chap on that other forum that was posting what you have wanted to hear for the past year. Nothing to do with him having any knowledge.

 

22 minutes ago, Isaan sailor said:

All about the 1%.  Wealthy Chinese buy condos and other real estate, (perhaps to rent daily to zero baht tourists).  The purchase takes Baht, and that lowers the Baht reserves in the local bank.  Money for the condo purchased, goes to the Thai 1% , and they in turn, buy high end western things or travel worldwide.

 

I very much doubt that the Chinese, or any foreign community for that matter, has been buying much in Thailand in the past 7-8 months, as they weren't allowed entrance.

 

25 minutes ago, Isaan sailor said:

Bahts become scarcer—and so the Baht rises.  Of course, with foreign money, everyone involved gets a cut.

interesting theory—what do you think?

 

That you should get better informed, instead of believing the conspiracies you have been spouting ever seen you signed up to this forum, because they don't add up to the reality

[Abmong]

This better not be a repeat of 1997 when speculators were allowed to play with the currency. If that happens again there'll defo be a full blown revolution not just protests.

[kensisaket]

2 hours ago, NCC1701A said:

It is a chart for today to show the reaction to the announcement.  

Exactly; and, it has been expanded to make it look like there was a much more significant reaction than there really was.  

[Skeptic7]

8 hours ago, worgeordie said:

Another no news, is good news, report from the Nation,

wake me up when it drops 10 %.......????

regards Worgeordie

I agree another No News story, but if you look at the chart in the OP article above...

...almost time for that Wake Up call...

USD has dropped 9% from April to Nov. 

Edited November 19, 2020 by Skeptic7

[Skeptic7]

1 hour ago, Mucky said:

Weird.

No money circulating from tourist..

High export cost via soaring baht. 

Mass unrest in bkk with protest's everyday.

Mass unemployment.

Yet baht keeps surging ??? 

 

It's the bulletproof baht. Nothing can put a dent in it. Been going on since 1998.

Edited November 19, 2020 by Skeptic7

[metisdead]

An off topic post and a reply has been removed. 

[Isaan sailor]

Turn of the foreign (Chinese) money spigot, that’s they need do.  The Baht will go down.

[Traubert]

23 minutes ago, Isaan sailor said:

Turn of the foreign (Chinese) money spigot, that’s they need do.  The Baht will go down.

Myth.

[JeffP]

Get it back up to £1= B50 or above.

[Isaan sailor]

25 minutes ago, Traubert said:

Myth.

Myth?  Prove it’s a myth.  Chinese inflows bring western currencies down.

[Susco]

1 minute ago, Isaan sailor said:

Myth?  Prove it’s a myth.  Chinese inflows bring western currencies down.

 

Explain how inflows of Chinese money into Thailand can take other currencies down.

 

 

[Isaan sailor]

4 minutes ago, Susco said:

 

Explain how inflows of Chinese money into Thailand can take other currencies down.

 

 

Read my post—Baht under pressure.  You already commented on it.

[Susco]

2 minutes ago, Isaan sailor said:

Read my post—Baht under pressure.  You already commented on it.

 

Thanks for confirming that your claims are pure conspiracies going on in your head, and that you have no reasonable explanation for them

[bwpage3]

2 hours ago, Isaan sailor said:

So I read some comments on another forum, and one chap seemed to understand why the Baht has gone so high vs USD (and all connected western currencies).

All about the 1%.  Wealthy Chinese buy condos and other real estate, (perhaps to rent daily to zero baht tourists).  The purchase takes Baht, and that lowers the Baht reserves in the local bank.  Money for the condo purchased, goes to the Thai 1% , and they in turn, buy high end western things or travel worldwide.  Bahts become scarcer—and so the Baht rises.  Of course, with foreign money, everyone involved gets a cut.

interesting theory—what do you think?

How many condo's do you think they are buying?

 

Thai financials reporting unsold condo's are at an all time high.

[peter48]

 

I would guess you do not 'physically' need your wealthy Chinese investors to be in BKK . Likely there  are social, family and business links. Developers , landlords, purchase properties for rent through 'agents' who do it for them. Companies do it for people based abroad. Same in NY, London or BKK etc. There are some big property bargains out there & Chinese being on top of Covid can go hunting I  would think

2 hours ago, bwpage3 said:

How many condo's do you think they are buying?

 

Thai financials reporting unsold condo's are at an all time high.

 

[Isaan sailor]

I think it’s obvious that foreign inflows drive the Baht upwards.  And Chinese have the biggest share in this.  No other investors could profit more from these massive  zero-Baht tours.

[J Town]

At 0730 on 20 Nov I got a Transferwise rate of 30.39

[sandyf]

12 hours ago, JeffP said:

Get it back up to £1= B50 or above.

Not much chance of that. BOT intervention has minimal effect compared to UK politics. 

[sandyf]

3 hours ago, Isaan sailor said:

I think it’s obvious that foreign inflows drive the Baht upwards.  And Chinese have the biggest share in this.  No other investors could profit more from these massive  zero-Baht tours.

And obviously foreign inflows from Thailand has driven the Yuan upwards.

from the OP

 

"Thailand is not the only country where vaccine optimism has boosted the currency. Chinese state banks have also been active in yuan markets to try to rein their nation's currency."

 

[brianthainess]

22 hours ago, webfact said:

Thailand's central bank has intervened in the baht

How?????????????????????????

[Isaan sailor]

14 minutes ago, brianthainess said:

How?????????????????????????

They turned down the spigot flow of foreign funds—about a half turn.

[Traubert]

4 hours ago, Isaan sailor said:

I think it’s obvious that foreign inflows drive the Baht upwards.  And Chinese have the biggest share in this.  No other investors could profit more from these massive  zero-Baht tours.

Another myth. The numbers show that the Chinese spend more per capita than anyone else. Member Saengd proved it on here.