Are funds being diverted to manipulate the economy again ?

[Excel]

Apologies if this is not in the right forum but I thought it general issues.  Just looked at the exchange rate and whereby the GBP/THB was all week in the 43s it is now dropped back to 42s.    So I thought given the latest covid wave in Thailand set to be more economically devastating to the already weak Thai economy  then the previous two, is there a possibility that the Thai government are diverting vast sums from the healthcare areas where it is vitality needed in order to manipulate the baht again ?

[Pilotman]

It is 42.84, hardly a significant drop from 43.17 as was a few days ago. This just looks like normal fluctuation,. not manipulation. 

[Excel]

8 minutes ago, Pilotman said:

It is 42.84, hardly a significant drop from 43.17 as was a few days ago. This just looks like normal fluctuation,. not manipulation. 

It peaked 43.58 Tuesday, as at time of original posting it was 42.76. Yes I would call a 1.9% change a significant drop in 4 days. Aware that Fridays are time for profit taking but last week it actually rose again on the Saturday.

[dabhand]

The lower GBP/THB rate just reflects the fact that the GBP lost value against the USD in the last few days. The currency market operates on cross trades with the USD being the link for providing the other quoted rates. Looking at the USD/THB rate the trend continues to be down, for the THB, with the current rate at 31.46, a near 6 month low.

 

[stevenl]

"is there a possibility that the Thai government are diverting vast sums from the healthcare areas where it is vitality needed in order to manipulate the baht again ?"

Sorry, economics doesn't work that way.

[BritManToo]

1 hour ago, Excel said:

Just looked at the exchange rate and whereby the GBP/THB was all week in the 43s it is now dropped back to 42s.

Exchange rate at the weekend is not really relevant, all the financial exchanges are closed.

Although I've noticed a steep drop throughout many previous weekends, which instantly recover at open of international money markets on Monday.

[Chivas]

When are some going to grasp that only the USD has a direct exchange rate with every worldwide currency lol

 

[Excel]

3 hours ago, stevenl said:

"is there a possibility that the Thai government are diverting vast sums from the healthcare areas where it is vitality needed in order to manipulate the baht again ?"

Sorry, economics doesn't work that way.

How little you know

[morrobay]

18 hours ago, dabhand said:

The lower GBP/THB rate just reflects the fact that the GBP lost value against the USD in the last few days. The currency market operates on cross trades with the USD being the link for providing the other quoted rates. Looking at the USD/THB rate the trend continues to be down, for the THB, with the current rate at 31.46, a near 6 month low.

 

The baht/pound is from:  1.37$/pound x 31.46baht/$ = 43.1

 

[Wiggy]

I don’t know, but my wife seems to transfer funds to manipulate my economy. 

[Excel]

6 hours ago, morrobay said:

The baht/pound is from:  1.37$/pound x 31.46baht/$ = 43.1

 

Today 42.12 to the pound

[morrobay]

3 hours ago, Excel said:

Today 42.12 to the pound

https://coinmill.com/GBP_THB.html#GBP=1

[Excel]

15 minutes ago, morrobay said:

https://coinmill.com/GBP_THB.html#GBP=1

1.00 British Pound =

42.122891 Thai Baht   Ex.com

[morrobay]

5 minutes ago, Excel said:

1.00 British Pound =

42.122891 Thai Baht   Ex.com

Just do a Google search: pound to baht. 43.1  . The point missed evidently is the pound to baht is derived from $/pound x baht /$. I guess your denial here is in defence of your OP. 

[Excel]

8 minutes ago, morrobay said:

Just do a Google search: pound to baht. 43.1  . The point missed evidently is the pound to baht is derived from $/pound x baht /$. I guess your denial here is in defence of your OP. 

Nothing to do with denial. XE.com is a reputable FX site.  But ignorance is not an excuse for  your protaganisitic replies so you are now on ignore.

[Caldera]

Wouldn't they use a major currency for any such shenanigans, instead of the GBP?

 

[Pilotman]

On 4/10/2021 at 11:12 AM, Excel said:

It peaked 43.58 Tuesday, as at time of original posting it was 42.76. Yes I would call a 1.9% change a significant drop in 4 days. Aware that Fridays are time for profit taking but last week it actually rose again on the Saturday.

it is back above 43 today, which rather proves my point. 

[Excel]

1 minute ago, Pilotman said:

it is back above 43 today, which rather proves my point. 

XE.com now

1.00 British Pound =42.124247 Thai Baht

What point was that ?

[offset]

1 minute ago, Excel said:

XE.com now

1.00 British Pound =42.124247 Thai Baht

What point was that ?

 

That type of drop happen last weekend but it went back up first think on Monday morning, Travelwise are still offering 43.138 for 20 hrs

[Excel]

Just now, offset said:

 

That type of drop happen last weekend but it went back up first think on Monday morning, Travelwise are still offering 43.138 for 20 hrs

That exchange rate was as quoted by xe.com 5 minutes ago, not last week. Please read the posts fully.

[Pilotman]

4 minutes ago, offset said:

 

That type of drop happen last weekend but it went back up first think on Monday morning, Travelwise are still offering 43.138 for 20 hrs

exactly 

[offset]

53 minutes ago, Excel said:

That exchange rate was as quoted by xe.com 5 minutes ago, not last week. Please read the posts fully.

I did read your post correctly this is the second weekend that the pound as dropped over the weekend according to xe.com I will wait till Monday morning to see what the rate is then 

[NoshowJones]

On 4/10/2021 at 10:57 AM, Pilotman said:

It is 42.84, hardly a significant drop from 43.17 as was a few days ago. This just looks like normal fluctuation,. not manipulation. 

It is back up to where it was on Friday, it dropped about one baht on Sat, then today (Monday) it is back to where it was on Friday, around 43.14.

[Excel]

3 minutes ago, possum1931 said:

It is back up to where it was on Friday, it dropped about one baht on Sat, then today (Monday) it is back to where it was on Friday, around 43.64.

XE.com just showing it as 43.12. But anyway the higher the better

[NoshowJones]

1 minute ago, Excel said:

XE.com just showing it as 43.12. But anyway the higher the better

Sorry, my mistake, I will go and edit it.

[Pilotman]

1 hour ago, possum1931 said:

It is back up to where it was on Friday, it dropped about one baht on Sat, then today (Monday) it is back to where it was on Friday, around 43.14.

But one of our number on here seems obsessed by small fluctuations in the rate, I couldn't live like that.  It is what is is.  As I can't influence it, I can't be bothered to be that bothered about it.  

[BritManToo]

14 hours ago, Excel said:

That exchange rate was as quoted by xe.com 5 minutes ago, not last week. Please read the posts fully.

the financial markets are closed at the weekends.

 

Any  changes in XE on Saturday or Sunday are not really related  to anything.

change your money on weekdays!

[Excel]

1 hour ago, BritManToo said:

the financial markets are closed at the weekends.

 

Any  changes in XE on Saturday or Sunday are not really related  to anything.

change your money on weekdays!

What has changing money got to do with the topic  of currency manipulation ?

[morrobay]

18 hours ago, Caldera said:

Wouldn't they use a major currency for any such shenanigans, instead of the GBP?

 

Sure they would. As you can see the way to decrease baht to pound is to decrease baht/$. From 1.37 $/pound x 31.46baht/$= 43.1 Just plug in 30 baht/$ and pound drops to 41.1

And I think the baht is being manipulated by those that  not coincidentally  benefit as well as have power to manipulate

 

[Chivas]

4 hours ago, morrobay said:

Sure they would. As you can see the way to decrease baht to pound is to decrease baht/$. From 1.37 $/pound x 31.46baht/$= 43.1 Just plug in 30 baht/$ and pound drops to 41.1

And I think the baht is being manipulated by those that  not coincidentally  benefit as well as have power to manipulate

 

 

I'm being incredibly polite but dont give up your day job !!

 

Baht takes its "fix" off the USD 24/7 (as does every worldwide currency) but Sterlings interaction is only via its own fix off the USD on the opposite side of the currency pairings as regards Sterling/Baht

 

Dont confuse matters. What we want is the Baht to weaken out to 33 (plus) against its benchmark. The other side of the pairings can take care of themselves hopefully...Sterling/Dollar  Euro/Dollar AUD/Dollar etc etc