webfact Posted December 14, 2020 Share Posted December 14, 2020 Weakening dollar raises questions on baht's direction By THE NATION The baht opened at 30.12 to the US dollar on Monday, weakening from the previous close of 30.04. The Thai currency is likely to move between 29.9 and 30.4 this week and between 30.05 and 30.25 on Monday, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities. Last week, the baht strengthened to Bt30 to the US dollar, raising concerns in the market about the currency’s direction in the future. This week, Jitipol advised investors to monitor capital flows. He added that if the market believed that the US would issue fiscal policies to support the economy next year, the purchasing power would increase for the Thai currency and bond. Another issue to monitor this week was a meeting of the Federal Open Market Committee (FOMC). The meeting result will be announced on Thursday. Observers expect the FOMC to freeze the US interest rate at 0 to 0.25 per cent. In addition, China’s economic numbers would be revealed on Tuesday, while the Bank of England and Bank of Japan will hold their committee meetings on Thursday and Friday respectively. Jitipol predicted that the US currency would weaken this week. The dollar index this week would tend to move between 90.2 to 91.2 points from the present 90.9 points. Source: https://www.nationthailand.com/news/30399561 -- © Copyright The Nation Thailand 2020-12-14 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted December 14, 2020 Popular Post Share Posted December 14, 2020 UP...its always..UP, never mind what happens here or in the rest of the World it seems. regards Worgeordie 3 Link to comment Share on other sites More sharing options...
Traubert Posted December 14, 2020 Share Posted December 14, 2020 Good news. 3 Link to comment Share on other sites More sharing options...
Popular Post Agusts Posted December 14, 2020 Popular Post Share Posted December 14, 2020 (edited) It's just amazing to see baht at 30 in Covid19 time , if you ask me it's not free floating but manipulated hard..., it must effect their export and competitiveness.... It was only at these levels last year this time and then in 2013... Edited December 14, 2020 by Agusts 3 Link to comment Share on other sites More sharing options...
Popular Post PatOngo Posted December 14, 2020 Popular Post Share Posted December 14, 2020 2 hours ago, worgeordie said: UP...its always..UP, never mind what happens here or in the rest of the World it seems. regards Worgeordie When the trough is constantly replenished with Baht, it makes sense to keep it high so the snouts can buy cheap dollars! 2 1 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted December 14, 2020 Popular Post Share Posted December 14, 2020 The baht opened at 30.12 to the US dollar on Monday, weakening from the previous close of 30.04 The Thai currency is likely to move between 29.9 and 30.4 this week and between 30.05 and 30.25 on Monday, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities. Is this the same overpaid, useless clown that says it could go up or down every week ? 5 2 Link to comment Share on other sites More sharing options...
Popular Post JimGant Posted December 14, 2020 Popular Post Share Posted December 14, 2020 Just now, PatOngo said: it makes sense to keep it high so the snouts can buy cheap dollars! Pray tell, what artificial means are they using to keep it high? It's staying high because the Thai economic fundamentals are very sound (tho' the 2021 economy may affect this ). If they had artificial means at hand, they'd be adjusting matters to support the export markets. 6 2 3 Link to comment Share on other sites More sharing options...
PatOngo Posted December 14, 2020 Share Posted December 14, 2020 3 minutes ago, JimGant said: Pray tell, what artificial means are they using to keep it high? It's staying high because the Thai economic fundamentals are very sound (tho' the 2021 economy may affect this ). If they had artificial means at hand, they'd be adjusting matters to support the export markets. Ok Jim. 1 Link to comment Share on other sites More sharing options...
Popular Post Agusts Posted December 14, 2020 Popular Post Share Posted December 14, 2020 49 minutes ago, JimGant said: Pray tell, what artificial means are they using to keep it high? It's staying high because the Thai economic fundamentals are very sound (tho' the 2021 economy may affect this ). If they had artificial means at hand, they'd be adjusting matters to support the export markets. Many governments and central banks around thre world control and manipulate their currency, are you saying it's not possible...!? ???? 3 1 Link to comment Share on other sites More sharing options...
HappyinNE Posted December 14, 2020 Share Posted December 14, 2020 With all the Western Central Banks printing money and trashing their currencies something has to go up. The US will expand their printing, in my opinion, so it is time to buy gold and Bitcoin. 1 Link to comment Share on other sites More sharing options...
Popular Post Laza 45 Posted December 14, 2020 Popular Post Share Posted December 14, 2020 1 hour ago, JimGant said: Pray tell, what artificial means are they using to keep it high? It's staying high because the Thai economic fundamentals are very sound (tho' the 2021 economy may affect this ). If they had artificial means at hand, they'd be adjusting matters to support the export markets. Exactly... .Because of expected stimulus American bond yields are going down which strengthens outflows. Thailand's interest rate is low.. but still higher than the US.. which attracts inflows. Even the $Au is on the way up at the moment.. for the same reasons.. Blaming the Bhat's rise on manipulation is just plain conspiracy theory.. 4 Link to comment Share on other sites More sharing options...
thailand49 Posted December 14, 2020 Share Posted December 14, 2020 They already know it is moving? why not just move it to 35 -1 USD set it and call it a day and work around that number? ???? 1 Link to comment Share on other sites More sharing options...
Traubert Posted December 14, 2020 Share Posted December 14, 2020 Some of you have some strange ideas about how currencies work. 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted December 14, 2020 Share Posted December 14, 2020 Better to lose Mekong waters, and gain submarines, bullet trains and those sweet mysterious foreign inflows at BoT. 2 Link to comment Share on other sites More sharing options...
Traubert Posted December 14, 2020 Share Posted December 14, 2020 20 minutes ago, Isaan sailor said: Better to lose Mekong waters, and gain submarines, bullet trains and those sweet mysterious foreign inflows at BoT. How are they mysterious? They are available for viewing by interested parties? Link to comment Share on other sites More sharing options...
Dumbastheycome Posted December 14, 2020 Share Posted December 14, 2020 The Baht has risen against the $US no more or less than currencies of perceived safe haven value or gold. The reality of it is that the US$ is an imposed exchange comparison that has no genuine value at all ! Given the multiple trillions printed by the US it would have almost no value at all if the Gold Standard was still in effect. For the majority serviceable "debt" is now the measure of relative wealth. Why do you think Bezos laughs like a freakin demon? 2 Link to comment Share on other sites More sharing options...
Solinvictus Posted December 14, 2020 Share Posted December 14, 2020 10 minutes ago, Dumbastheycome said: The Baht has risen against the $US no more or less than currencies of perceived safe haven value or gold. The reality of it is that the US$ is an imposed exchange comparison that has no genuine value at all ! Given the multiple trillions printed by the US it would have almost no value at all if the Gold Standard was still in effect. For the majority serviceable "debt" is now the measure of relative wealth. Why do you think Bezos laughs like a freakin demon? Bitcoin seems to be more of an endeavor as more money continues to be printed..again..and again. If, I can recall, there isn't even a 'gold standard' to back the dollar. But that has been for years..Correct me if I'm mistaken.. Link to comment Share on other sites More sharing options...
EricTh Posted December 14, 2020 Share Posted December 14, 2020 14 minutes ago, Solinvictus said: Bitcoin seems to be more of an endeavor as more money continues to be printed..again..and again. If, I can recall, there isn't even a 'gold standard' to back the dollar. But that has been for years..Correct me if I'm mistaken.. No, there is no gold to back the dollar. If some country were to have an international gold-backed currency, the dollar would crash hard. They are just making money out of thin air. 2 Link to comment Share on other sites More sharing options...
Dumbastheycome Posted December 14, 2020 Share Posted December 14, 2020 15 minutes ago, Solinvictus said: Bitcoin seems to be more of an endeavor as more money continues to be printed..again..and again. If, I can recall, there isn't even a 'gold standard' to back the dollar. But that has been for years..Correct me if I'm mistaken.. Perhaps research the history of the move to the US$, the history of Fort Knox, and how historically the US coerced the world into the debt scenario it controls to this day, how it has suppressed attempts to return to a gold trade standard, and how China is threatening that control. 1 Link to comment Share on other sites More sharing options...
chilli42 Posted December 14, 2020 Share Posted December 14, 2020 6 hours ago, Agusts said: Many governments and central banks around thre world control and manipulate their currency, are you saying it's not possible...!? ???? It’s not impossible but it is difficult, expensive and comes with other unintended consequences. Link to comment Share on other sites More sharing options...
Chivas Posted December 14, 2020 Share Posted December 14, 2020 6 hours ago, Agusts said: Many governments and central banks around thre world control and manipulate their currency, are you saying it's not possible...!? ???? Buying your own currency on International markets is not manipulation in the way you're claiming Link to comment Share on other sites More sharing options...
thailand49 Posted December 15, 2020 Share Posted December 15, 2020 12 hours ago, Traubert said: Some of you have some strange ideas about how currencies work. I agree! living here does that to a person you read their leaders comments one day it is too high, so after a few days it starts to move in the other direction, then the B.O.T. steps in and once again it moves the other way, the place is going to hell and they tell you the world is pouring money into Thailand " a safe short term investment " then the next day they tell you it was all " speculation "? Whatever way it suppose to work after a while it is just a blurred????????? my school days I barely got by Econ 101 today it is the same????? 1 Link to comment Share on other sites More sharing options...
Leaver Posted December 16, 2020 Share Posted December 16, 2020 On 12/15/2020 at 8:13 AM, thailand49 said: I agree! living here does that to a person you read their leaders comments one day it is too high, so after a few days it starts to move in the other direction, then the B.O.T. steps in and once again it moves the other way, the place is going to hell and they tell you the world is pouring money into Thailand " a safe short term investment " then the next day they tell you it was all " speculation "? Whatever way it suppose to work after a while it is just a blurred????????? my school days I barely got by Econ 101 today it is the same????? Thailand is manipulating it's currency. https://thethaiger.com/hot-news/economy/us-treasury-mulls-putting-thailand-on-its-watchlist-as-a-currency-manipulator 1 Link to comment Share on other sites More sharing options...
thailand49 Posted December 17, 2020 Share Posted December 17, 2020 10 hours ago, Leaver said: Thailand is manipulating it's currency. https://thethaiger.com/hot-news/economy/us-treasury-mulls-putting-thailand-on-its-watchlist-as-a-currency-manipulator Yes, I've known for sometime but I hesitate to come out and state exactly that reason I don't want certain people who have their head in the sand quoting me and make statements or " you got any proof " so I kind of make a joke about it. 1 Link to comment Share on other sites More sharing options...
Agusts Posted December 17, 2020 Share Posted December 17, 2020 Below 30 a dollar today... ! They think it's Xmax and high season as usual and tourists are pouring in, so push it down like last year this time....!? lol 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted December 17, 2020 Share Posted December 17, 2020 (edited) Baht at 7-year high on USD. I hope they’re satisfied now. Or will they shoot for an 8-year high? Edited December 17, 2020 by Isaan sailor Link to comment Share on other sites More sharing options...
Chivas Posted December 17, 2020 Share Posted December 17, 2020 4 hours ago, Isaan sailor said: Baht at 7-year high on USD. I hope they’re satisfied now. Or will they shoot for an 8-year high? Purely down to huge inflows of money and record foreign currency reserves Quite capable of going to 28 1 Link to comment Share on other sites More sharing options...
Chivas Posted December 17, 2020 Share Posted December 17, 2020 We can only be thankful that for now Sterling/Dollar is at $1.35 because if a no deal Brexit emerged that could well go to $1.20 With Dollar/Baht at 29.88 at time of post that will put Sterling/Baht at......35.8 ouch Link to comment Share on other sites More sharing options...
whiteman Posted December 17, 2020 Share Posted December 17, 2020 The N.Z.$ SEEMS TO BE PICKING UP STEAM Link to comment Share on other sites More sharing options...
Popular Post moe666 Posted December 17, 2020 Popular Post Share Posted December 17, 2020 On 12/14/2020 at 1:16 PM, Agusts said: It's just amazing to see baht at 30 in Covid19 time , if you ask me it's not free floating but manipulated hard..., it must effect their export and competitiveness.... It was only at these levels last year this time and then in 2013... Do some real research, the bhat is getting stronger because most western countries have done a horrible job of controlling the virus thus endangering there economies. People are putting a lot of money into the Thai bond market as well as the Thai stock market, because Thailand is being looked at as a strong economy because they have controlled the virus. Start looking at it as the Thai bhat is stronger and the dollar is weaker as opposed to the knee jerk reaction that it is being manipulated. A bit of education is golden 3 Link to comment Share on other sites More sharing options...
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