54 minutes ago, Chivas said:

 

 

but Sterlings interaction is only via its own fix off the USD on the opposite side of the currency pairings as regards Sterling/Baht

 

 

 

 

Sure but the OP is about Thailand manipulating exchange rate. And of course Thailand has no control over the $/pound. But they are involved with baht/$ and again it is these two pairings that produce baht/pound = $/pound x baht/dollar.

 

1 hour ago, Chivas said:

 

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

 

 

Don't worry about being polite as I can see your economic ignorance is shining bright.  And as for my day job well I don't really need one any more. However as I have said before this thread is about currency manipulation ,not immature banter, which your country has suspected Thailand of for some time.

Edited April 12, 20215 yr by Excel

On 4/11/2021 at 1:55 PM, offset said:

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 

 

It restored itself to roughly where it was, as expected.

On 4/11/2021 at 4:17 PM, Excel said:

But ignorance is not an excuse for  your protaganisitic replies

 

You must be talking in a mirror

On 4/11/2021 at 3:55 PM, Excel said:

1.00 British Pound =

42.122891 Thai Baht   Ex.com

From the link provided by MB in your quote:

 

"The Thai government has put restrictions on currency trading with other countries to limit currency speculation. Offshore banks (banks outside Thailand) cannot exchange THB with foreign currency. They must instead exchange for the Thai Offshore Baht (THO). The offshore Baht is taxed by the Thai government.

 

This Pound Sterling and Thai Baht convertor is up to date with exchange rates from April 12, 2021".

 

It's worth saying that neither MB's link nor your quote refer to midpoint exchange rates, that is the value of the currency pair before the banks premium is added or subtracted, aka buy or sell rates, in Thailand that is typically about 50 satang.

 

 

What a ridiculous thread. The stupidity of some people on here is breathtaking.

On 4/12/2021 at 6:44 PM, Excel said:

On 4/12/2021 at 5:14 PM, Chivas said:

 

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

 

 

Expand  Expand  

Don't worry about being polite as I can see your economic ignorance is shining bright.  And as for my day job well I don't really need one any more. However as I have said before this thread is about currency manipulation ,not immature banter, which your country has suspected Thailand of for some time.

 

Now if only you were smart enough to understand that the US has accused Thailand  of manipulating their currency to keep it WEAKER than its should be

Edited April 17, 20215 yr by Susco

58 minutes ago, Susco said:

 

Now if only you were smart enough to understand that the US has accused Thailand  of manipulating their currency to keep it WEAKER than its should be

Yes, true of course but it's the means by which they are being accused of doing that. Thailand has operated a trade surplus for the past seven years, this has resulted in foreign currency reserves increasing year on year which is a key factor of currency strength. The reason there has nearly always been a trade surplus is a combination of restrictive practices, high taxation on imports and a lack of willingness to allow meaningful foreign competition (in order to preserve home grown industry, products and services). Those people who think that Thailand is manipulating the Baht by diverting currency from this to that, don't understand how the markets work.

Edited April 17, 20215 yr by Brierley

On 4/10/2021 at 12:34 PM, BritManToo said:

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.

Wise is open on Saturdays and XE is open 7 days a week.

 

XE on Friday was 42.9629, Saturday 43.0655

Wise on Friday was 43.0275, Saturday 43.1268

 

No drop at all this weekend, but a small rise.

20 hours ago, billd766 said:

XE on Friday was 42.9629, Saturday 43.0655

 

Dropped from 43.2 when I checked on Saturday to 42.5 now on Sunday.  Similar pattern as the last couple of weeks and it'll jump back up tomorrow if it follows this pattern.  I know the OP accusing the Thai government of causing this was made on a Saturday, but it's just the usual trading pattern IMO, and can also be seen in some of the exchanges around town every weekend.

On 4/12/2021 at 12:44 PM, Excel said:

Don't worry about being polite as I can see your economic ignorance is shining bright.  And as for my day job well I don't really need one any more. However as I have said before this thread is about currency manipulation ,not immature banter, which your country has suspected Thailand of for some time.

There is no need to divert money from health care to inflate the baht. All that has to be done is to rig a press conference using normal USA/GB procedures ie the media are told in advance what questions they should ask the finance minister

The question the minister is asked runs as follows...Do you think the thai baht is over valued

If the minister wants the baht to collapse he answers ...yes and we will not interfere if the baht goes down in value

If the minister wants the baht to rise in value then the answer is ....no we have only recovered back to pre 1997 rates