Thai baht is worst performing currency in Southeast Asia

[ThailandRyan]

6 minutes ago, Isaan sailor said:

So Baht @ 31.23 USD is cause to celebrate? I’ll drink a can of Singha, and wait for 34. Maybe then, some imported red wine.

I would like to see that as well, but I will take any amount of an increase rather than a decrease in my transfers.  April had always been a decent month to make a large transfer in the past. 

Edited April 2, 2021 by ThailandRyan

[kevin612]

It is just two weeks, but Thai baht is very strong for last couple years.

[n00dle]

14 hours ago, ThailandRyan said:

Was at 31.34 this morning when I made my monthly transfer from My US bank to Kasikorn.  Now its at 31.26, but 1 year ago it was at 33.10 per 1 USD.  I would not be surprised if it gets to 32

And two months ago it was 29 ish

[orang37]

11 hours ago, John Drake said:

I guess all the cash for the CP deal to buy Tesco Lotus has gone through now.

 

alternative interpretation:   all the cash brown-envelopes and transfers to out-of-country banks for the CP deal to buy Tesco Lotus has gone through have been celebrated in  million-baht pretty-parties at Thonglor casinos.

[IamNoone88]

The Bat will go to 20 to the USD within 10 -15 years as the US currency becomes less relevant.

[sandyf]

58 minutes ago, Isaan sailor said:

So Baht @ 31.23 USD is cause to celebrate? I’ll drink a can of Singha, and wait for 34. Maybe then, some imported red wine.

Fat chance on the wine, a better rate on the baht is not going to stop the tax increases.

[USMC RETIRED 15]

13 hours ago, ExpatOilWorker said:

 

Or back to 29.9....

 

Danish Mgt_Macroecon Update_March 15, 2021 by Dr Kirida TDRI.pdf 2.04 MB · 18 downloads

This forecast couldn't be more wrong unless manipulation was in the forecast....USD strength follows the strength of the 10 Year Treasury Yield...and that is expected to continue rising this year and under the Biden administration which will continue to strengthen the dollar over the next 4 years.  Now if these so called forecasts from Thai banks continue to show the baht sub 30 level, then you know manipulation is coming.

Edited April 2, 2021 by USMC RETIRED 15

[orang37]

That insanely optimistic forecast graphic was clipped: you don't see the source is the Bank of Thailand.  

 

Edited April 2, 2021 by orang37
teething pain after re-birth as insect

[Fex Bluse]

When China has finished taking over much of Asia, they will be propping up SEA currencies as they have been doing to some extent. Military conflict will also come soon. Save your money and be ready to snatch up some assets on the cheap. China will almost certainly try to take Taiwan..

[Excel]

12 hours ago, John Drake said:

 

I guess all the cash for the CP deal to buy Tesco Lotus has gone through now.

Most of his cash and his Pals also is stashed in Europe or offshore so no doubt the money for the deal was paid out from there, not Thailand. Thats exactly why the currency was being manipulated over the past 2 years or so. Now if course a triple whammy is upon them. Lack of foreign inflows from tourists due to Covid,  incompetence in the generals and their sycophants together with their puppetmasters running the country and the storm approaching from potential major public disturbances.  All looks fair for good exchange rated again later.

[Misterwhisper]

Why would I care? I am still stuck in unwavering nostalgia in the not so distant past, when the baht was pretty stable... at an exchange rate of 38 to the US$.

[Excel]

56 minutes ago, IamNoone88 said:

The Bat will go to 20 to the USD within 10 -15 years as the US currency becomes less relevant.

Apart from such a ridiculous forecast based upon what economic rationale ? is that the same Bat that brought in Covid ? ????????

[ThailandRyan]

1 hour ago, n00dle said:

And two months ago it was 29 ish

Exactly, and that is why it has made a difference in my recent transfer, well at least for myself.  Would I like it to be better, of course I would.  I think all of us would like nicer exchange rates.

[Isaan sailor]

6 minutes ago, ThailandRyan said:

Exactly, and that is why it has made a difference in my recent transfer, well at least for myself.  Would I like it to be better, of course I would.  I think all of us would like nicer exchange rates.

Baht down another 10%—we celebrate. 
Baht up anther 10%—Good morning Vietnam.

[Cake Monster]

16 hours ago, snoop1130 said:

BANGKOK -- The Thai baht was the worst performer among commonly traded Southeast Asian currencies during the first quarter, as its fundamentals were eroded due to lack of tourist spending.

So why, I must ask, has it taken a whole Year to discover that the Thai Bahts " Fundamentals " have been eroded due to a lack of Tourist spending.

Very strange

[chilly07]

4 hours ago, SheungWan said:

GBP has gone down since the vote to leave the EU. Current recovery due to making a deal with the EU. No-deal Brexit would have sent it crashing again.

Still down from 51 to 36 after the referendum so the so called deal did nothing. The current 43 is a response to the vaccine program after 150000 deaths. Nothing to do with EU or Bozo. Might go up a bit more if they can stop squabbling over vaccine supplies!

[Caldera]

The worse, the better.  In my book. 

 

[BernieOnTour]

Well ... I wouldn’t be too sad, if the Baht would loose even more ! ????

 

... spring 2010, I got 50 Baht to the Euro, now it’s 36.65 ...

[Percy P]

15 hours ago, Susco said:

 

 

You see that 35.3 ?

 

That's where I transferred 300K USD to my foreign currency account with Kasikorn, with the intention to exchange them when it would reach 36 in the next month or so.

 

THey are still in the account lol

Good move,  £ is raising its head too.

[JohnHans]

Great news.

[anchadian]

3 hours ago, IamNoone88 said:

The Bat will go to 20 to the USD within 10 -15 years as the US currency becomes less relevant.

That's very interesting to know.  I certainly couldn't have made that projection.  

 

By the way, what bat are we talking about?

[malibukid]

the U.S. economy is recovering from the pandemic and the SP 500 hit 4000 yesterday.  meanwhile Thailand is far behind the rest of the world in vaccinations.

[John Drake]

49 minutes ago, Caldera said:

The worse, the better.  In my book. 

 

 

The same actually goes for most Thais as well. Strong baht only helps the 1 percent.

[metisdead]

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[Red Forever]

10 hours ago, daveAustin said:

Yep, that and some German scientist will discover some 0.0000000000001% discrepancy in the AZ vaccine that will save one life by abolishing it and yet kill 100,000 and blame it on the UK with the upshot being the baht climbs 3 points just to turn the screw on the exphats a little bit more. Stroll on!!!

Anti EU rant perchance.

You "won", get over it!

[Red Forever]

7 hours ago, JonnyF said:

In fairness to the THB, the GBP has risen against a multitude of currencies since we left the EU. It's also about 6% up on the Euro since New Year.

 

 

You Quitters just don't get it do you?

Any excuse to shoehorn how "well we're doing" since leaving the most successful trading bloc.

Shakes head .....

10 hours ago, daveAustin said:

Yep, that and some German scientist will discover some 0.0000000000001% discrepancy in the AZ vaccine that will save one life by abolishing it and yet kill 100,000 and blame it on the UK with the upshot being the baht climbs 3 points just to turn the screw on the exphats a little bit more. Stroll on!!!

Anti EU rant perchance.

You "won", get over it!

[natway09]

Worst performing ????

What rubbish, the country next door in total  turmoil has a currency that is useless

 

[Bradmeister]

ING out of Singapore pedicts 34 baht to the dollar by yesrs end. Woot woot

[csmith]

..… and then there is cryptocurrency ...… 

[WHansen]

1 hour ago, Red Forever said:

You Quitters just don't get it do you?

Any excuse to shoehorn how "well we're doing" since leaving the most successful trading bloc.

Shakes head .....

Anti EU rant perchance.

You "won", get over it!

Correct. We won