Thai Baht Finally Getting Weaker

[ExpatOilWorker]

We just broke 32.0. This party will just never end!

 

 

[Isaan sailor]

1 hour ago, ExpatOilWorker said:

We just broke 32.0. This party will just never end!

 

 

Finally, currency traders realize that Thailand not the best emerging market to invest in.  Covid out of control, and late to the vaccine party.

[Chivas]

Weakening out to 35 would keep 99% well happy the 1% being the Expats paid in Baht and remitting back to home !

 

 

[riclag]

3 hours ago, Isaan sailor said:

Finally, currency traders realize that Thailand not the best emerging market to invest in.  Covid out of control, and late to the vaccine party.

I posted in another thread a few months ago, how the Covid crisis in Thailand  wasn't really showing significant  signs of the Baht  weakening !  Which imop was rather confusing seeing that tourism and jobs were at a all time low !

 

Its refreshing to see the weakening finally ,especially, when one want's to get more bang for the buck ,so to speak !

 

Unfortunately, I fear it won't last long ! I read on a news site earlier today, that the BOT is considering  adjusting  the  Foreign Exchange regulations framework WTM,to cope with the economic volatility !

 

It sure would be nice to see those 2015-2016 rates again at 35 and 36!

 

 

 

 

Edited June 29, 2021 by riclag

[Rinrada]

 On the other hand        

Exporters expect to Gain from weaker Baht...

..Export stocks in Many industries are Expected to gain from a 6% Depreciation of the Thai baht since mid-May as the prospects of US economic recovery and an inflation rate hike has caused the US dollar to rise, according to KTBST Securities.

29 Jun 2021 at 04:00 Almost hit the 1 Pound = 45 recently...swings and rounda...etc.. 1997...well and truly  history...

[Chivas]

I see its closed against the benchmark at 32.13

Looks like it was higher yesterday at one point intraday at 32.22

 

Good to see for everyone unless you're an expat paid in Baht

[stament]

3 hours ago, Chivas said:

I see its closed against the benchmark at 32.13

Looks like it was higher yesterday at one point intraday at 32.22

 

Good to see for everyone unless you're an expat paid in Baht

 

I do see further weakening particularly if the sandbox is delayed or covid rates continue to increase.  Do I hear another rates cut - surely not!

[Chivas]

Right out to 32.49 now

[CrunchWrapSupreme]

Teaching in Thailand, as you know, often doesn't pay too well. Especially out here in Issan. But the trick is to get home, then do a little online tutoring, for some good ol' greenbacks. ???????????? Certainly made my day. ????????????

[ExpatOilWorker]

8 hours ago, Chivas said:

Right out to 32.49 now

Yeah, this have been a sweet ride. We might even break the 2 year high of 33.08 in a few weeks.

 

 

[lolalol]

14 minutes ago, ExpatOilWorker said:

8 hours ago, Chivas said:

Right out to 32.49 now

Yeah, this have been a sweet ride. We might even break the 2 year high of 33.08 in a few weeks.

 

 

 

Looks like the COVID chart.

 

 

 

 

 

 

 

 

[Chivas]

Dropping further and further now

Sterling has breached 45 at the time of post

[Isaan sailor]

It takes a full blown pandemic to finally cut the damned Baht down to size.  Thailand no longer an emerging market—and currency traders seem to have gotten the message.

[ExpatOilWorker]

It just dropped 0.2 points in 4 hours.

We might get 33 by the end of the day.

[Chivas]

42 minutes ago, Isaan sailor said:

It takes a full blown pandemic to finally cut the damned Baht down to size.  Thailand no longer an emerging market—and currency traders seem to have gotten the message.

9000 plus infections in last 24 hours and Thailand knows a full lockdown is coming

[KhunBENQ]

Euro at 38.688 near 3 year high.

But more than a Baht missing to the 5 year high (39.8563, September 2017).

Edited July 9, 2021 by KhunBENQ

[Chivas]

Just looking via google finance and Sterling finished week at 45.33 and Dollar at 32.63

Not seen Sterling at that level since the drops subsequent to the 2016 referendun result partly aided by Sterling gaining against the USD whilst at the same time the Baht weakening out against the same USD

Double whammy in Brits favour for once

[Henryford]

Typical i did a Sterling transfer on Thursday at 44.75 but by Friday it was 45.21

 

[sucit]

If we breach and hold that 93 area things could get real juicy. Otherwise, get your large transfers in now! 

[Chivas]

5 hours ago, sucit said:

If we breach and hold that 93 area things could get real juicy. Otherwise, get your large transfers in now! 

This is entirely Baht weakness now not Dollar strength albeit the end result is the same

 

[spidermike007]

Let us hope the baht completely tanks. The economy is sure in the toilet. Exports are down. Investment is way down. Shopping is way down. New car sales are way down. 

 

Foreign investors are taking their money out of Thailand, as it is considered highly unstable, and being run by children, who sure look like adults.

 

Likely the only thing that is up, are Thai police and official imports of heroin. Got to make up for the shortfall somewhere. 

[stament]

looks to be going in one direction.............

[balo]

11 hours ago, stament said:

looks to be going in one direction.............

Which way ?

[Chivas]

Touched 32.81 earlier currently at 32.77 as conditions worsen in Thailand with record infections

This will go right out to 35 over the next 6 weeks

[Nojohndoe]

All very nice that exchange rates are improving for many. Unfortunately that will also mean that the price of imported products such as the food items of preference to many expats will rise accordingly.

And fuel . And ..and..and.

Thai exporters may enjoy the advantage .

[Leaver]

13 hours ago, Nojohndoe said:

All very nice that exchange rates are improving for many. Unfortunately that will also mean that the price of imported products such as the food items of preference to many expats will rise accordingly.

 

But no problem if you drink local beer. ????  

[ourdon]

I note with interest that the ADB (Asian Development Bank)  has lowered this years forecast for Thailand from 3% to 2%..  That makes it the lowest forecast for any Asean country. 

 

Also next years forecast rising to the dizzying heights of second from bottom is conditional on a successful vaccine rollout and the effective staged opening of the various parts of the economy including tourism.

 

Yeah, I think I'll hold off on buying Baht for a bit

 

Edited July 20, 2021 by ourdon

[Chivas]

Dropping sharply now

This will be 35 by end of September heading towards 36 with Covid now out of control

 

 

Edited July 31, 2021 by Chivas

[ExpatOilWorker]

13 hours ago, Chivas said:

Dropping sharply now

This will be 35 by end of September heading towards 36 with Covid now out of control

 

 

It has kind of paused just under 33.

Might be a slow crawl uphill from now on.

 

[nkg]

6 months ago, I remember reading that Thailand's exports were very strong. I looked into it a little more closely, and discovered that it was Thailand's "gold exports" that were leading the boom. Sounds great. Except ...

 

Thailand doesn't have any active gold mines. The "gold exports" were ordinary Thai people selling their gold to generate emergency cash.