Thai currency to move within Bt29.80 and Bt30.30 range this week

[webfact]

Thai currency to move within Bt29.80 and Bt30.30 range this week

By THE NATION

 

 

Between December 28 and January 1, Kasikornbank expects the baht to move within the range of Bt29.80 and Bt30.30 against the US dollar.

 

KResearch said the key factors to be monitored closely are the global Covid-19 situation, the central bank’s report on economic and monetary conditions for November and foreign fund flows into the country.

 

Meanwhile, the US economic data to be released this week include October property price index, November pending home sales data and weekly unemployment claims report. Market participants may also eye the Chinese purchasing managers’ index (PMI) for December, which may shed light on the state of the private sector.

 

The baht fell early last week in line with other regional currencies, while the dollar strengthened as a safe-haven currency amid heightened concerns about the Covid-19 situation both at home and overseas.

 

The baht, however, pared some losses, while the greenback suffered sell-offs amid position adjustment after the Thai government announced Covid-19 control zoning, but did not enforce a national lockdown.

 

On Friday, the baht stood at Bt30.08 to the US dollar compared to Bt29.83 on the previous Friday (December 18).

 

Source: https://www.nationthailand.com/news/30400334

 

 

-- © Copyright The Nation Thailand 2020-12-28

 

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[khwaibah]

Xe at USD 30.13.????

[CrunchWrapSupreme]

I've been getting 29 on my Chase Visa. A night out at the pub for 1500 baht, which I used to roughly calculate to be $45, is now $52. Bah.

[Virt]

1 hour ago, CrunchWrapSupreme said:

I've been getting 29 on my Chase Visa. A night out at the pub for 1500 baht, which I used to roughly calculate to be $45, is now $52. Bah.

 

One might think that is not a lot, but those 7 bucks a day is 1400 less Chang beers pr year ????

[The Theory]

฿1 makes a big difference. It does not matter for beer or food, especially with low interest rates that lowered many expats income as well. 

[lovethai123]

are they doing something which they shoudnt be doing. 

 

the recent outbreak seems to have no effect on baht. 

[Susco]

10 hours ago, CrunchWrapSupreme said:

I've been getting 29 on my Chase Visa. A night out at the pub for 1500 baht, which I used to roughly calculate to be $45, is now $52. Bah.

 

Must have been quite a while you had a night out last time

[Susco]

31 minutes ago, lovethai123 said:

the recent outbreak seems to have no effect on baht. 

 

Did you expect that because there are now a few hundred infections, in a country of 70 million, the baht would crash by 50% within the next few hours?

[kingofthemountain]

1 hour ago, lovethai123 said:

are they doing something which they shoudnt be doing. 

 

the recent outbreak seems to have no effect on baht. 

The problem is nothing seems to have any effect on the baht

and since a long time now. 

 

in the past it was usual to talk about the ''teflon'' Thai tourism as the industry

wasn't affected at all by the big events (tsunami, bird flu, red against yellow and so on)

eventually the whole sector was destroyed by covid 19

 

imo we can now call it the ''teflon'' baht

 

[YAHF]

At least in England Dick Turpin wore a mask when robbing people and Robin Hood gave back proceeds of crime back to the poor people.

[Soikhaonoiken]

4 hours ago, lovethai123 said:

are they doing something which they shoudnt be doing. 

 

the recent outbreak seems to have no effect on baht. 

Yes, they are manipulating the Baht, and have done for year's, they should let it find its true value, and it will be a lot higher than $30.30

[hotchilli]

19 hours ago, webfact said:

Between December 28 and January 1, Kasikornbank expects the baht to move within the range of Bt29.80 and Bt30.30 against the US dollar

[madmen]

8 hours ago, lovethai123 said:

are they doing something which they shoudnt be doing. 

 

the recent outbreak seems to have no effect on baht. 

Why would it? 

[sitti]

4 hours ago, Soikhaonoiken said:

Yes, they are manipulating the Baht, and have done for year's, they should let it find its true value, and it will be a lot higher than $30.30

nope, that's wrong. Why would Thailand make Baht stronger, they actually want weaker Baht. It's the US with trillions of dollars they have been printing. Expect Baht to get even stronger when next administration issues bigger stimulus.

[sawademe]

10 hours ago, lovethai123 said:

are they doing something which they shoudnt be doing. 

 

the recent outbreak seems to have no effect on baht. 

 

we could say the same about the situation in the states and the us stock market....

 

it's almost as if central bank money printing has dissociated finance from reality ????

[lovethai123]

11 hours ago, Susco said:

 

Did you expect that because there are now a few hundred infections, in a country of 70 million, the baht would crash by 50% within the next few hours?

was expecting atleast 1 baht depreciation to the dollar.

[kingofthemountain]

7 hours ago, Soikhaonoiken said:

Yes, they are manipulating the Baht, and have done for year's, they should let it find its true value, and it will be a lot higher than $30.30

They are not manipaluting the baht, it will be difficult to do this as they are part of the world

financial system with some forms of control in place.

However they are not making what they could do to weakened the baht at his ''real'' valor

(I am sorry to disagree with you, i don't develop here but for obvious reasons the ''real'' valor

of the bahts isn't a lot higher than $30.30)

3 easy measures to put in place

1\ control and limit the influx of money coming in the country

they already control and limit the outflux, they need to reverse this

2\ print more money and use it to help the people

double the monthly allocation for the elder and disabled, and put in place

a real health care and unemplyement benefits net

3\ use a part of the tons of foreigns currency reserves actually ''sleeping'' in the BOT coffers

to improve the education system,the safety on the roads and so on

[khunkarl]

22 hours ago, lovethai123 said:

are they doing something which they shoudnt be doing. 

 

the recent outbreak seems to have no effect on baht. 

 The baht does not even follow the economy, obviously as the economy is <deleted>. I remember when the reds and yellows clashed in Bangkok a decade ago, even burning skyscrapers, the baht did not weaken, on the contrary it strengthened! Only in Thailand

[Banana7]

BOT has too many restrictions on currency outflows from Thailand.  Too many to list here.

 

Bottom line is that there are lots of rich Thais, and foreigners with billions of baht, ready to move out of Thailand, but BOT must give them permission. Oh, those billions of baht aren't really desirable in any other country, so they would have to be converted into more desirable currencies like EUR, USD, GBP, etc. in Thailand.