Advocate Posted March 16, 2021 Share Posted March 16, 2021 On 3/15/2021 at 2:55 AM, daveAustin said: Yep. GBP also doing alright, though a bit under early noughties 75. They'll need it to do something to the downside if they want exports make up shortfall on tourism at least! The British rupee? GBP 1 = 42.49 THB a long way from 75. There is no possibility of a resurgence of the British rupee. The opposite is more likely as Brexit unravels further. 1 1 Link to comment Share on other sites More sharing options...
Chivas Posted March 16, 2021 Share Posted March 16, 2021 18 minutes ago, Advocate said: The British rupee? GBP 1 = 42.49 THB a long way from 75. Dollar/Baht wasn't bouncing around 30 at that time !! When Sterling/Baht was around 75 Dollar/Baht was bouncing around 40/41 Two currency pairings make up the number crunch. There is no "direct" exchange rate between Sterling/Baht. Movement in either pairing affects the bottom line Hopefully Sterling/Dollar will increase towards $1.50 over the coming two to three years which will help us nicely Link to comment Share on other sites More sharing options...
Popular Post Rinrada Posted March 16, 2021 Popular Post Share Posted March 16, 2021 FIO.....Today in 1997...... 1997 British Pound Sterling = 85.101 Thailand Baht 1997 US Dollar = 61.346 Thailand Baht.......Chai... 1 2 Link to comment Share on other sites More sharing options...
Advocate Posted March 16, 2021 Share Posted March 16, 2021 3 hours ago, Chivas said: Dollar/Baht wasn't bouncing around 30 at that time !! When Sterling/Baht was around 75 Dollar/Baht was bouncing around 40/41 Two currency pairings make up the number crunch. There is no "direct" exchange rate between Sterling/Baht. Movement in either pairing affects the bottom line Hopefully Sterling/Dollar will increase towards $1.50 over the coming two to three years which will help us nicely The Brexit unraveling will dash those hopes as far as GBP is concerned. 2 1 Link to comment Share on other sites More sharing options...
ThailandRyan Posted March 16, 2021 Share Posted March 16, 2021 5 hours ago, PETERTHEEATER said: Do you not understand that Thailand is THE HUB of oil imports. But to where, then, do they export the surplus? ???? Saving it for the Moon Rockets and Submarines. 1 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted March 16, 2021 Popular Post Share Posted March 16, 2021 (edited) Stop dreaming about the peak rates and golden era after the Asian crisis at the end of 1997, beginning of 1998. The golden era ended sometime in 2009. Sharp downturn for most from then. Guess you know what triggered this? Edited March 16, 2021 by KhunBENQ 4 Link to comment Share on other sites More sharing options...
Popular Post Moonlover Posted March 16, 2021 Popular Post Share Posted March 16, 2021 11 hours ago, sandyf said: The baht is tied to the dollar, the dollar has weakened, as can be seen with GBP and EUR, but that will probably reverse with the stimulus bill so the every chance the baht will strengthen again. The Thai Baht has not been tied to the USD since 1997. 4 Link to comment Share on other sites More sharing options...
Meat Pie 47 Posted March 16, 2021 Share Posted March 16, 2021 9 hours ago, DUNROAMIN said: Still a long way to go to 27B to 1 AUD. This was where it was 5 years ago. No today's rate is 28.83 to 1 AUD Link to comment Share on other sites More sharing options...
DUNROAMIN Posted March 16, 2021 Share Posted March 16, 2021 22 minutes ago, Meat Pie 47 said: No today's rate is 28.83 to 1 AUD WOW, I must have missed something. Link to comment Share on other sites More sharing options...
Advocate Posted March 17, 2021 Share Posted March 17, 2021 16 hours ago, Rinrada said: FIO.....Today in 1997...... 1997 British Pound Sterling = 85.101 Thailand Baht 1997 US Dollar = 61.346 Thailand Baht.......Chai... 1997 was a special case because that was when the Asian financial crisis of that time occurred affecting many Asian countries. The British rupee currently has downward mobility as Brexit unravels. 2 1 Link to comment Share on other sites More sharing options...
Advocate Posted March 17, 2021 Share Posted March 17, 2021 12 hours ago, Meat Pie 47 said: No today's rate is 28.83 to 1 AUD What are you smoking? Or is a money changer ripping you off on changing Baht to AUD? ???? 2 Link to comment Share on other sites More sharing options...
KhunBENQ Posted March 17, 2021 Share Posted March 17, 2021 (edited) 14 hours ago, Meat Pie 47 said: No today's rate is 28.83 to 1 AUD Wishful thinking or mixed up the digits? 1.00 Australian Dollar = 23.83 Thai Baht https://www.xe.com/currencyconverter/convert/?Amount=1&From=AUD&To=THB Edited March 17, 2021 by KhunBENQ 1 Link to comment Share on other sites More sharing options...
ThailandRyan Posted March 17, 2021 Share Posted March 17, 2021 USD is picking up a few Satangs as the week moves on 1 USD to THB | Convert US Dollars to Thai Baht | Xe 1.00 US Dollar = 30.814288 Thai Baht 1 THB = 0.0324525 USD 1 Link to comment Share on other sites More sharing options...
Popular Post Chivas Posted March 17, 2021 Popular Post Share Posted March 17, 2021 16 hours ago, Advocate said: The Brexit unraveling will dash those hopes as far as GBP is concerned. I'm no Boris lover (make no mistake the geezer is utterly catastrophic running our Country) but I'll happily wager a Case of Singha that Sterling/Dollar will be higher at the end of 2021 than it is today 3 Link to comment Share on other sites More sharing options...
Popular Post Chivas Posted March 17, 2021 Popular Post Share Posted March 17, 2021 (edited) 16 hours ago, Moonlover said: The Thai Baht has not been tied to the USD since 1997. I think people get confused over "tied" to the Dollar as opposed to taking its "fix" off the USD as every currency does As you rightly say the "peg" to the USD ended in 1997 but it still needs to take its "fix" off the USD 365/24/7 to enable currency exchange rates to be number crunched So whilst its not pegged/tied to the USD that floating ratio is relevant to absolutely every person worldwide visiting Thailand no matter where we originate from. I had a PM overnight claiming what the hell was I talking about when I said there was no "direct" exchange rate between Sterling/Baht..... When I politely showed the two currency pairings and how its calculated in response I got "well how come I can see Sterling/Baht in exchange booths on display" You can lead a horse to water lol.... Edited March 17, 2021 by Chivas 1 2 2 Link to comment Share on other sites More sharing options...
sandyf Posted March 18, 2021 Share Posted March 18, 2021 On 3/16/2021 at 12:03 PM, Isaan sailor said: Not exactly. It seems more likely the Baht is pegged to the Chinese Yuan. The Yuan has given up its gains on last six months—as has the Baht. They should peg the Baht to the USD again—but use 33 Baht (not 27 Baht) to the USD. Then watch the economy rocket up. You would have to show me where I said "pegged". Following the financial crisis Thailand took the decision to hold the bulk of it's foreign reserves in USD. The baht is tied to the dollar, wherever the dollar goes the baht will follow. 2 Link to comment Share on other sites More sharing options...
Popular Post Brierley Posted April 15, 2021 Popular Post Share Posted April 15, 2021 On 3/18/2021 at 8:46 AM, sandyf said: You would have to show me where I said "pegged". Following the financial crisis Thailand took the decision to hold the bulk of it's foreign reserves in USD. The baht is tied to the dollar, wherever the dollar goes the baht will follow. What you wrote about the Baht going wherever the Dollar goes is true, but not 100%. BOT operates a "managed float" of exchange rate control, otherwise known as the cheaters float. What that means in practice is that USD/THB will respond to FOREX market forces as long as BOT agrees, if they do not agree they are permitted to intervene to influence the rate. Since THB (for delivery) is not freely traded on global markets, virtually all the transactions that influence its value, occur inside Thailand. 3 1 Link to comment Share on other sites More sharing options...
Excel Posted April 15, 2021 Share Posted April 15, 2021 1 hour ago, Brierley said: What you wrote about the Baht going wherever the Dollar goes is true, but not 100%. BOT operates a "managed float" of exchange rate control, otherwise known as the cheaters float. What that means in practice is that USD/THB will respond to FOREX market forces as long as BOT agrees, if they do not agree they are permitted to intervene to influence the rate. Since THB (for delivery) is not freely traded on global markets, virtually all the transactions that influence its value, occur inside Thailand. And as I said before in here, and it can be subject to manipulation for that very reason. Let's see if they make the upcoming report as a currency manipulator. Of course those forum members who consider themselves world economic experts may disagree by using that old argument "they all do it" but so what that if they do it is still manipulation. 1 Link to comment Share on other sites More sharing options...
Popular Post Brierley Posted April 15, 2021 Popular Post Share Posted April 15, 2021 11 minutes ago, Excel said: And as I said before in here, and it can be subject to manipulation for that very reason. Let's see if they make the upcoming report as a currency manipulator. Of course those forum members who consider themselves world economic experts may disagree by using that old argument "they all do it" but so what that if they do it is still manipulation. There are two point regarding currency manipulation. The first is, THB is not a freely convertible currency, it is not available in any quantity outside of Thailand and as I said previously, it cannot be exported in any great quantity. It therefore is almost impossible for anyone outside of Thailand, such as traders or hedge funds, to take a position against the Baht. THB is traded globally of course but never for the delivery of hard currency. The result is that manipulation or any unnatural forcing of the Baht can only occur within Thailand. The second point is that any manipulation of the Baht in-country by the BOT would leave a paper trail of some kind. The common belief is the BOT uses their foreign currency reserves to sell USD and buy THB in order to strengthen the Baht. That approach of course is the exact opposite of what BOT was doing actually doing, pre-pandemic, when they were selling Baht and buying USD, in an attempt to keep a lid on THB and prevent exporters from being squeezed. The FCR are held not only in USD but in the 24 trading currencies most used by Thailand, along with gold, THB and Special Drawing Rights. Any change in the balance of those resources would show up as a significant loss or gain as it did previously. If anyone knows of another way BOT can manipulate the Baht, without it being seen, I'll be keen to know what it might be. Personally, I think the risk is too great, especially with the US watching the Baht like a hawk. 2 2 1 Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted June 17, 2021 Share Posted June 17, 2021 Nice drop over night. I guess the market didn't fancy the 120 days opening up idea. 1 Link to comment Share on other sites More sharing options...
Rinrada Posted June 17, 2021 Share Posted June 17, 2021 Thought the Pound might have hit 45...but no...just looking now at 43.80 down approx 1 baht from a few weeks ago...Stayed at 44 for almost a month..Roll on tomorrow...Never be the same as 97...in 97 way back..again but all in the lap of the gods ....MPR.. 1 Link to comment Share on other sites More sharing options...
balo Posted June 17, 2021 Share Posted June 17, 2021 I am waiting for the baht to get back to 2010 levels. Then we can have a party again . 2 Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted June 19, 2021 Share Posted June 19, 2021 Sweet deal. Fingers crossed, we might get 31.5 next week. 2 Link to comment Share on other sites More sharing options...
worgeordie Posted June 19, 2021 Share Posted June 19, 2021 On 6/18/2021 at 1:38 AM, Rinrada said: Thought the Pound might have hit 45...but no...just looking now at 43.80 down approx 1 baht from a few weeks ago...Stayed at 44 for almost a month..Roll on tomorrow...Never be the same as 97...in 97 way back..again but all in the lap of the gods ....MPR.. 43.35 on Super Rich today, I thought with UK opening up, trying to get back to some form of normalcy ,Sterling has been in free fall this week. regards Worgeordie 1 1 Link to comment Share on other sites More sharing options...
Chivas Posted June 20, 2021 Share Posted June 20, 2021 (edited) 21 hours ago, worgeordie said: 43.35 on Super Rich today, I thought with UK opening up, trying to get back to some form of normalcy ,Sterling has been in free fall this week. regards Worgeordie Totally unrelated to the Baht All down to Sterling weakening against the USD on the opposite side of the pairings on talk of US rate rise. Baht is completely flat and range bound as it has been been these last few years Sterling/Baht dropped off the back of it obviously Edited June 20, 2021 by Chivas 2 Link to comment Share on other sites More sharing options...
Caldera Posted June 20, 2021 Share Posted June 20, 2021 Sink, baby, sink... 1 Link to comment Share on other sites More sharing options...
Rinrada Posted June 20, 2021 Share Posted June 20, 2021 One last big Wise transfer before the pound tanks...eh.....???? Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted June 21, 2021 Share Posted June 21, 2021 We got 31.5, do we dare hoping for 31.75 by the end of the week? 1 Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted June 22, 2021 Share Posted June 22, 2021 Sweet Jesus, Christmas is coming early this summer. 1 Link to comment Share on other sites More sharing options...
Rinrada Posted June 22, 2021 Share Posted June 22, 2021 On 6/20/2021 at 12:00 PM, Chivas said: Totally unrelated to the Baht All down to Sterling weakening against the USD on the opposite side of the pairings on talk of US rate rise. Baht is completely flat and range bound as it has been been these last few years Sterling/Baht dropped off the back of it obviously Back over 44 again... Link to comment Share on other sites More sharing options...
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