Thai Baht Finally Getting Weaker

[Chivas]

Breached 33 and holding. Clear skies to 33.5 now clearly 20,000 infections today is unnerving traders

 

 

 

 

[Rinrada]

34 minutes ago, Sticky Rice Balls said:

Your Move Thailand....pain is a motivator.

....whatever one wishes for I hope this does NOT Happen...????‍♂️..Thailand, Georgia and Iran are likely candidates to be Moved to the UK government’s red list of “high risk” countries at the upcoming review of International Travel rules, according to "experts"?.

The next announcement is expected to take place on 5 August as part of the Department for Transport’s tri-weekly update of the travel traffic light lists.

 

Independent data flagged the three destinations as potential red list additions due to soaring Covid-19 infections, with Thailand and Iran both surpassing their previous records for total new daily cases.

 

There are already 60 countries on the Red list, with government guidance stating that people “should Not travel to red list countries or territories”.

[Rinrada]

20 hours ago, Rinrada said:

....whatever one wishes for I hope this does NOT Happen...????‍♂️..Thailand, Georgia and Iran are likely candidates to be Moved to the UK government’s red list of “high risk” countries at the upcoming review of International Travel rules, according to "experts"?.

The next announcement is expected to take place on 5 August as part of the Department for Transport’s tri-weekly update of the travel traffic light lists.

 

Independent data flagged the three destinations as potential red list additions due to soaring Covid-19 infections, with Thailand and Iran both surpassing their previous records for total new daily cases.

 

There are already 60 countries on the Red list, with government guidance stating that people “should Not travel to red list countries or territories”.

Looks like Thailand is still on UKs Amber list..good..Also Bahrain,UAE and India...now  Amber (from red)...so Gulf Air,Etihad and Emirates are a go....dee mak..

[Chivas]

Still weakening out......all the way to 35 please !

 

[Globaleyes]

On 3/16/2021 at 9:12 AM, Advocate said:

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.

What?  Are you saying that any serious investor hasn't already priced that in?  That they would wait until it happens before they sell? 

[Chivas]

Weaker and weaker by the hour (or stronger depending on your point of view !)

 

 

[Chivas]

That was a catastrophic week for the Baht against its benchmark. Further words superfluous

 

 

 

Edited August 7, 2021 by Chivas

[ExpatOilWorker]

Nomura expects the baht to weaken to 34 to the dollar in the near term, supported by a more pro-growth central bank that’s likely to lower its key rate.

 

The fiscal deficit will balloon to 10.1% in the year ending September, from 6.4% the previous fiscal, as tax revenue trails target and the government borrows more to fund virus stimulus, according to Nomura. The public debt-to-GDP ratio may be raised to 70% next month to meet the need for greater borrowing.

 

https://finance.yahoo.com/news/thailand-first-twin-deficit-nearly-210000490.html

[whiteman]

pound now only 45. 42 a drop of 1.7%    usa $33.34 holding up quite well

[Chivas]

5 hours ago, whiteman said:

pound now only 45. 42 a drop of 1.7%    usa $33.34 holding up quite well

Yes drop to 45.42 is purely Sterling/Dollar related unfortunately.

Baht though virtually unchanged last couple weeks bouncing around the 33.30 mark

[ExpatOilWorker]

You take your eyes off the ball for a split second and the baht is up to it old tricks again.

 

 

[tonray]

3 hours ago, ExpatOilWorker said:

You take your eyes off the ball for a split second and the baht is up to it old tricks again.

 

 

It's because the Federal Reserve stubbornly refuses to even discuss raising interest rates..before you know it...the next crisis will be upon us giving them another reason to keep rates near zero.

[EricTh]

The Baht has gone up again.... hooray for some

[Chivas]

On 8/25/2021 at 2:05 AM, EricTh said:

The Baht has gone up again.... hooray for some

Heavily being bought by the Thais on the forex markets using huge Foreign Currency Reserves to prop it up

Nothing to do with the Fed and its interest rates as indicated on thread

 

The only point is how long they will do it for this time......couple weeks ago they did it for 3 days immediately stopped and the Baht weakened again

 

Simply depends on how much they want to "waste" in the market. I have little doubt it wont last long

Edited August 26, 2021 by Chivas

[EricTh]

1 hour ago, Chivas said:

Heavily being bought by the Thais on the forex markets using huge Foreign Currency Reserves to prop it up

Nothing to do with the Fed and its interest rates as indicated on thread

 

The only point is how long they will do it for this time......couple weeks ago they did it for 3 days immediately stopped and the Baht weakened again

 

Simply depends on how much they want to "waste" in the market. I have little doubt it wont last long

 

Who are the 'Thai' that you mentioned? Are they the Central Bank of Thailand or just ordinary Thai?

 

Edited August 26, 2021 by EricTh

[Chivas]

5 hours ago, EricTh said:

 

Who are the 'Thai' that you mentioned? Are they the Central Bank of Thailand or just ordinary Thai?

 

I really shouldn't take the bait but what do you think....?

[Chivas]

Baht starting to weaken out again after previously gaining strength against the USD

Straight out to 32.90 and a sharp weakening today

[ExpatOilWorker]

1 hour ago, Chivas said:

Baht starting to weaken out again after previously gaining strength against the USD

Straight out to 32.90 and a sharp weakening today

The past 20 days strong run for the baht was a bit premature.  The Delta force is with us again so let's aim for 33.5 this time around.

[billd766]

On 3/16/2021 at 9:20 AM, ExpatOilWorker said:

This report forecast a stronger baht, so maybe enjoy the 30+ to the US$ for as long as it last, soon it could be 29 again.

 

Danish Mgt_Macroecon Update_March 15, 2021 by Dr Kirida TDRI.pdf 2.04 MB · 20 downloads

I doubt that there any financial people in the world who can see past 2021 with any degree of accuracy.

 

Who among them predicted the 2008 crash, Brexit etc?

 

Also most financial "experts" are employed to work in companies. If they were any good they would be working for themselves and be billionaires by now.

[Isaan sailor]

About time the Baht behaves. Expats have suffered too long.

[billd766]

On 3/16/2021 at 4:12 PM, Advocate said:

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.

Wise this morning gave  forex rate of thb/GBP of 45.3352.

 

I have no idea where or when you got the rate of GBP 1 = 42.49 THB from.

 

AFAIR the rupee has never been the currency in the UK.

[billd766]

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..

At 7:30 this evening the forex rate GBP/THB was this.

 

https://wise.com/gb/currency-converter/gbp-to-thb-rate?amount=1

 

1.00000 GBP = 45.53590 THB.

 

That is up from 11am this morning.

 

It peaked on August 6th at 46.4633

 

On 31st December 2020 it was 40.6576.

 

A big upturn in less than 9 months.

 

I transfer my pensions via a Wise borderless account.

Edited September 13, 2021 by billd766
Added extra text

[Scott]

Off-topic posts reported and removed along with replies.  The topic is not about Brexit.

 

[KhunBENQ]

Euro is also back on the right track, 38.89 now.

14 hours ago, billd766 said:

I transfer my pensions via a Wise borderless account.

Same to me.

A mate has his pension directly paid to his Thai bank account.

And again the Euro had dropped significantly before months end (almost touched 38)

[ExpatOilWorker]

Another week and we should have this strange dip behind us.

 

[Rinrada]

Thailand still on the Red card...????

[Chivas]

3 hours ago, Rinrada said:

Thailand still on the Red card...????

It will be on the UK's red list indefinatly partly because I have little doubt the UK have no confidence whatsoever in the "declared" infection numbers

 

I reckon this time next year before Brits get a chance to go again even then doubtless with restrictions

 

Until I can turn up at Suvarnabhumbi with just a Covid Certificate, Passport and a smile then I'm out.....

[ExpatOilWorker]

The baht is now at a 4 years low. Still some way to go before it hit the the 20 years low of 36.42, but at this rate we could get there.

 

[ExpatOilWorker]

Interesting. From the Post.

 

The Bank of Thailand has revised the current account deficit for 2021 from the earlier projection of $1.5 billion to $15.3 billion, in line with lower foreign tourist arrivals.

 

From now on until the end of this year, he expects the baht to fall to the lowest rate at around 34 baht to the greenback, rising to the highest level at 32.4 baht.

[Old Croc]

From XE, Oct 21, 2021.

 

1 AUD = 25.1501 THB