Once Asia’s top performer, the Thai baht is now becoming the region’s worst-hit currency

[nauseus]

1 hour ago, Nong Khai Man said:

But It DOES.....

Max daily swing that day was 0.3% - not exactly going to stop the earth's rotation is it?

 

If you had 200 bucks and bought 100 dollars worth of baht at the top and then at the bottom, the difference received would be 10 baht. I never mentioned "changing" money anyway.

 

 

 

 

[MyFriend You]

On 7/28/2021 at 2:13 AM, Isaan sailor said:

From 32.94 to 32.84.  Looks like 10 Satang to me.

Down 10 Satang, yes. "Trouncing???"  Naaah come back in 4 weeks.     ????

[MyFriend You]

On 7/26/2021 at 10:05 PM, GroveHillWanderer said:

According to fxtop.com, it never got above 80 at any point in 1997. They show that its highest ever rate was just below 91 (90.6745) in January 1998.

 

Pound to baht historical exchange rates

 

 

These may be delayed or unofficial rates - (the happy face scares me).   I too received 100 baht per $$ Travellers Cheques and 100$$ bills in China Town at my favorite Gold Store, I exchanged $14000 and got B1.4 Mil.............I take graphs like these with a grain of salt as one more, different site, will show different graph and a different rate.............I only know what I did.   Hey, the first few days after the crash, mid-July 97, the hotels were still trying to bilk people for 25 baht a dollar!!................Peace

[nauseus]

59 minutes ago, TunnelRat69 said:

These may be delayed or unofficial rates - (the happy face scares me).   I too received 100 baht per $$ Travellers Cheques and 100$$ bills in China Town at my favorite Gold Store, I exchanged $14000 and got B1.4 Mil.............I take graphs like these with a grain of salt as one more, different site, will show different graph and a different rate.............I only know what I did.   Hey, the first few days after the crash, mid-July 97, the hotels were still trying to bilk people for 25 baht a dollar!!................Peace

I guess that gold shop is no more then. ????

[johnarth]

On 7/26/2021 at 9:39 PM, AwwYesNice1 said:

Waiting for the baht to tank and then I'm buying back in.

me too I watch the stock exchange every day, share prices still going down

[Thunglom]

On 7/27/2021 at 3:29 AM, Mac Mickmanus said:

You didn't leave the E.U which is why your currency hasn't risen by 20 % .

   Does the U.S.A have something similar to the E.U that they could leave ?

you are 100% incorrect - at one point the pound was in parity with the Euro.

since the referendum 2016, it's dropped by about 20%.

 

Edited August 1, 2021 by Thunglom

[Thunglom]

cheap at is good for visitors and expats on fixed external incomes.......but nowhere near as good as it was 15 years ago.

 

Those being paid in baht may be <deleted> off as there invest/retirement funds will take a dive.

however for the Thai economy cheaper baht can mean cheaper exports and more expensive imports - Thai economy relies a lot on exports so it may well help them recover from Covid.

 

The other side of the coin is that it also reflects the international view of Thailand's prospects of recovery - i.e. NOT GOOD.

[metisdead]

Some inflammatory posts and replies have been removed. 

[Mac Mickmanus]

1 hour ago, Thunglom said:

you are 100% incorrect - at one point the pound was in parity with the Euro.

since the referendum 2016, it's dropped by about 20%.

 

We were talking  about U.S $ , we werent talking about the Pound or the Euro 

[Thunglom]

2 hours ago, Mac Mickmanus said:

We were talking  about U.S $ , we werent talking about the Pound or the Euro 

Oh dear....never mind - probably wrong anyway.

 

[scubascuba3]

The last week or so Thai baht has got stronger against other currencies, I can't see any good reason for it? maybe govt support?

[Isaan sailor]

30 minutes ago, scubascuba3 said:

The last week or so Thai baht has got stronger against other currencies, I can't see any good reason for it? maybe govt support?

I agree.  Government doesn’t want the label, Asia’s worst performing currency”.  So now we have Asia’s best weekly performing currency.  It’s insane.

[KhunBENQ]

1 hour ago, scubascuba3 said:

The last week or so Thai baht has got stronger against other currencies, I can't see any good reason for it? maybe govt support?

EUR/THB was actually quite stable around 39 until yesterday morning (August 24). And just now another dive for the EUR/THB.

 

Edited August 25, 2021 by KhunBENQ

[JayBird]

1 hour ago, scubascuba3 said:

The last week or so Thai baht has got stronger against other currencies, I can't see any good reason for it? maybe govt support?

It had a drop followed by a quick rebound.  There was no significant news or economic event to fuel this.

 

Could be outside influence (a bank, firm, etc.) making large transactions/bets.  But nothing that the fundamentals should support.

 

This week there was some positive economic data/news:

-- Improved exports YoY: However, anyone who looks into this would realize that last year was very low.

-- News about the economy potentially opening up: Again, anyone who is following this would not place too high of a value on this news.

 

The only interesting things I see on the wire:

11:04:31 PM	RTRS		THAI CENTRAL BANK SAYS ECONOMY QUITE RESILIENT
10:49:02 PM	RTRS		THAI FINANCE MINISTER SAYS FISCAL POSITION REMAINS STRONG
10:48:49 PM	RTRS		THAI FINANCE MINISTER SAYS GOVT CAN RAISE DEBT TO GDP CEILING IF NEED BE

24 Aug - 01:59:48 AM	RTRS		Thailand to keep VAT unchanged at 7% for another two years

 

Personally, I would not have thought this would result in a nearly 2% drop (now looking at USD/THB @ 32.72 with a -0.52%).  Meanwhile at this moment, the .DXY is showing + 0.15%

 

I would have to say there may be a strong possibility that there is influence not-fundamentally driven that is causing this.

 

 

Edited August 25, 2021 by JayBird

[KhunBENQ]

2 minutes ago, JayBird said:

It had a drop followed by a quick rebound.

Rebound didn't hold. Look at the diagram. Today more erosion.

USD no different:

 

[scubascuba3]

1 hour ago, KhunBENQ said:

EUR/THB was actually quite stable around 39 until yesterday morning (August 24). And just now another dive for the EUR/THB.

 

Over the last month, not that stable 

[gk10012001]

It should be hit hard.  Thailand's governent is so corrupt, from a large scale investment point of view.  And with a change in government on the horizon given the past history timeline of Thailand coups

[mahtin]

Should have made that transfer on Monday instead of yesterday. Joys of forex.

[3NUMBAS]

it was always a house of cards with no substance

[Isaan sailor]

When the USD, Euro, Pound and even the Chinese Yuan all fall in unison vs Thai Baht—it sure looks like intervention on the part of Bank of Thailand.  When’s the last time these currencies nosedived together for 2%?
Why defend the Baht?  Face issue—don’t want label as SE Asia’s weakest currency?  Pure lunacy.

[mahtin]

 

Yes, Mr. P.M.

 

 

[matchar]

Could it be the government are borrowing significant amounts of money from abroad?

Perhaps they have been weakening the baht in preparation by importing lots of gold.