Baht strengthens a tad

[webfact]

Baht strengthens a tad

By THE NATION

 

 

The baht opened at 30.21 to the US dollar on Thursday, strengthening from 30.25 at close on Wednesday.

 

The Thai currency is likely to move between 30.10 and 30.30, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

 

On the Wednesday night, the S&P 500 Index increased by 0.2 per cent due to strong performance by energy stocks, after the price of WTI crude oil rose by 1.4 per cent.

 

Meanwhile, the Stoxx 600 Index decreased by 0.1 per cent after sales of some profitable stocks, which grew last month.

 

Moreover, the US ADP report said employment in private organisations in November rose by 307,000 positions, but this showed that companies are still concerned about the economic situation next year. However, most firms believed the US government would launch a stimulus package by the end of this year, the report added.

 

In the financial market, the dollar weakened by 0.1 per cent, while the US Ten-Year Treasury yield rose by 2.5 basis points to 0.95 per cent, the highest so far this week.

 

Jitipol said most currency investors decided to hold main currencies, such as the Japanese yen, Australian dollar or Swiss franc.

 

In Thailand, the baht continued to move in a narrow range. Investors are watching the direction of the currency exchange policy as well as capital flows, he added.

 

Source: https://www.nationthailand.com/news/30399016

 

-- © Copyright The Nation Thailand 2020-12-03

 

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[1Gringo]

get it back to 40 where it belongs!

[Chivas]

25 minutes ago, 1Gringo said:

get it back to 40 where it belongs!

 

lol with record Foreign Currency Reserves (despite no tourism) the Baht is exactly where it deserves to be against the USD

I don't like it anymore than anyone else but Thailand is not the 3rd world country it was 30 years ago

[Isaan sailor]

A hands-off approach to the Baht—let it burn.

[hotchilli]

3 hours ago, 1Gringo said:

get it back to 40 where it belongs!

60

[Scott Tracy]

Baht dropping against the pound as I write this. Now 40.5347 baht per pound. Oh, rising against the pound now, 40.5264. I haven't followed the dollar/baht saga, but I have to admit I'm a little war weary over the baht up/baht down. The difference being 0.04 baht per dollar... Is this really news? 40 baht difference on $1000 dollars? Baht is now 40.5313....

[Isaan sailor]

Baht strengthens a tad?  For the forlorn USD, the mighty Baht up 96 Satang over 30 days.  And no doubt will strengthen a tad tomorrow.

[Susco]

13 minutes ago, Isaan sailor said:

Baht strengthens a tad?  For the forlorn USD, the mighty Baht up 96 Satang over 30 days.  And no doubt will strengthen a tad tomorrow.

 

In the meantime the Euro keeps strengthening against the baht in the same period.

 

Maybe it is not the Baht that is getting stronger Duh

[Isaan sailor]

1 hour ago, Susco said:

 

In the meantime the Euro keeps strengthening against the baht in the same period.

 

Maybe it is not the Baht that is getting stronger Duh

So you take pleasure in our pain?  We don’t cheer when the Euro tanks.  For now, I use cash only, and put away the credit cards.  Good luck with your Euro.

[CharlieH]

Troll comment removed.

 

Please do not get personal in your comments.

[Susco]

1 hour ago, Isaan sailor said:

So you take pleasure in our pain?  We don’t cheer when the Euro tanks.  For now, I use cash only, and put away the credit cards.  Good luck with your Euro.

This thread is about the Baht strengthening, which I proved already to be incorrect, by showing that the Euro is increasing against the Baht.

 

Other posters have mentioned other currencies strengthening against the baht, and i'm sure there are even more.

 

Where did i say that I had pleasure in the USD weakening, which is actually what is happening.

 

Keep your baiting posts to yourself

[Chivas]

Again posters on the thread under the impression there is a "direct" exchange rate between Sterling or the Euro against the Thai Baht still not grasping there are two currency pairings that make up the number crunch

 

In the Euro case its been its resurgence against the USD that has seen its increase against the Baht

 

Sterling has been holding its own against the Baht purely because its increased against the USD which has offset the Bahts strength against the same USD.....Should we go no deal however expect Sterling to heavily drop against the USD which will heavily impact on Sterling/Baht probably dropping us to around 36