Baht could sink even further, analyst warns

[Neeranam]

8 minutes ago, Sir Dude said:

The elite must have spent enough overseas and acquired sufficient foreign currency... time to bring it all home and swallow up even more assets in Thailand as the time is ripe for preditory cheap aquisitions and become even richer. This obviously requires a change in the exchange rate to their favour. If they do this now, then they will be set just right for when the pandemic ends and the recovery starts. Rinse & repeat.

I remember Taksin and Chavalit in 1997, they made so much money then based on inside information. 

[khunPer]

Many thanks...???? -keep up the good work...????????

[todlad]

6 hours ago, nightfox said:

Don't need to be no analyst to see this was coming...

Good point yet it's not that long since they were forecasting a rate of 27 to the GBP.

[Boomer6969]

2 hours ago, sandyf said:

In that time the progress on infrastructure has very significant but gets viewed with contempt by many.

Indeed.

[Never Been Abroad]

What's the cheapest way to change my pounds into Baht?

 

I'm in the UK, don't have a Thai bank account, or a work permit.

[SomchaiCNX]

1 hour ago, tonray said:

My major expenses are food and health insurance...not much gonna change there. Fresh produce and meat/fish produced locally. Not worried about inflation here...much better to have a strong dollar.

Correct, for me too but the industries, car, oil, steal, textile etc etc that you indirectly need as well depends mostly on imports.

 

[Boomer6969]

1 hour ago, mikebell said:

My State Pension has remained at 350 quid a month for the last 13 YEARS after working for 39 years in the UK.  If only I was French!

I am, but when I was working in France 25% of my disposable income went into social security. Most of it used to subsidise the middle class lifestyle of the (voluntarily) unemployed immigrant masses. Now I have to fight to get my state pension, and what I'll get makes it second worst return on investment I ever made. The worst being the Australian pension where I get absolute zero for not having enough years of residence.

 

Please be happy to be British..

[SheungWan]

8 minutes ago, Never Been Abroad said:

What's the cheapest way to change my pounds into Baht?

 

I'm in the UK, don't have a Thai bank account, or a work permit.

How much are you wanting to change?

[G Rex]

17 minutes ago, Never Been Abroad said:

What's the cheapest way to change my pounds into Baht?

 

I'm in the UK, don't have a Thai bank account, or a work permit.

You can transfer it to my Thai bank account - I will look after it for you ????. Lol

[Gottfrid]

6 hours ago, nightfox said:

Don't need to be no analyst to see this was coming...

You do realize the reason is Covid, right? Now the baht goes down as they have a top in infections and deaths. Later it will stabilize and go up again.

[Pootegg]

7 hours ago, RichardColeman said:

Finding it hard to think of a good reason as to why this is not a bad thing

The values of my fixed assets in Thailand keeps decreasing v GBP. In my case not hard to think why this is a bad thing.

[daveAustin]

5 hours ago, vandeventer said:

Yes, it gives you more money in the bank, but prices will go up on most things. I hope you like rice.

No they won’t. Many factors but  Thailand has never been as expensive under a high baht. 

[fusion58]

Quote

Baht could sink even further, analyst warns

 

#silver lining

[Chelseafan]

7 hours ago, RichardColeman said:

Finding it hard to think of a good reason as to why this is not a bad thing

Imports mainly and it devalues hi-so Thais overseas buying power ????

[FarangJon]

Thanks god. That was long overdue.

Please back to 55 Baht per € as it was once in 2003/2004.

[gk10012001]

2 hours ago, Sir Dude said:

The elite must have spent enough overseas and acquired sufficient foreign currency... time to bring it all home and swallow up even more assets in Thailand as the time is ripe for preditory cheap aquisitions and become even richer. This obviously requires a change in the exchange rate to their favour. If they do this now, then they will be set just right for when the pandemic ends and the recovery starts. Rinse & repeat.

An interesting post, and definitely possible and on the minds of well to do Thais.  But is the magnitude of their wealth sufficient to drive changes?

[gk10012001]

8 minutes ago, FarangJon said:

Thanks god. That was long overdue.

Please back to 55 Baht per € as it was once in 2003/2004.

Oh man.  My first trip was in Sep 2004.  over 40 Baht per USD $.  I almost bought a condo for 1 million baht then, which in the long run probably would have been an OK investment given the amounts I later spent on hotels on all my subsequent trips, especially considering how low the exchange rate got.  Of course this assumes I would have had no issues with the condo, neighbors, crazy association rules, damages, thefts, repairs, etc..

[3NUMBAS]

theres not much to support it

[jacko45k]

1 minute ago, gk10012001 said:

I almost bought a condo for 1 million baht then, which in the long run probably would have been an OK investment

Glad I didn't buy into that VT timeshare myself.....

[mickyr55]

8 hours ago, RichardColeman said:

Finding it hard to think of a good reason as to why this is not a bad thing

Why is it a good thing?? prices are rising faster than the Bhatt is falling E20 petrol this time last year  Bt17 now Bt29 per litre, Makro many foodstuffs are rising weekly so the few extra Bhatt per £ or $ are very quickly disappearing in rising prices. ☹☹

[RichardColeman]

1 hour ago, Pootegg said:

The values of my fixed assets in Thailand keeps decreasing v GBP. In my case not hard to think why this is a bad thing.

The value of your fixed assets only decrease if your intention is to sell them and move back to the UK, Otherwise it makes no difference to you whatsoever, in fact if your fixed assets are housing, you could probably increase your property value as the pound increases. 

[eddysacc]

 

2 hours ago, Never Been Abroad said:

What's the cheapest way to change my pounds into Baht?

 

I'm in the UK, don't have a Thai bank account, or a work permit.

You could open an account with Transferwise.

I use them for years and they have a good reputation.

 

It is possible to hold differently currency accounts in one time.

 

For example could you change British Pounds to Thai Baht and hold it as long as you want.

You could also exchange the THB to many other currencies at any time.

 

PM me if you have questions.

[placeholder]

9 minutes ago, mickyr55 said:

Why is it a good thing?? prices are rising faster than the Bhatt is falling E20 petrol this time last year  Bt17 now Bt29 per litre, Makro many foodstuffs are rising weekly so the few extra Bhatt per £ or $ are very quickly disappearing in rising prices. ☹☹

Is the fact that petrol prices are rising in the UK the fault of the baht, also? Petrol prices are rising worldwide. This has nothing to do with the baht per se. As for food prices rising faster than the baht is falling, you have some evidence to support that? And cherry-picking certain food items is no way to go about it.

[jacko45k]

8 minutes ago, placeholder said:

And cherry-picking certain food items is no way to go about it.

Cherries are hard to come by......

[placeholder]

6 minutes ago, jacko45k said:

Cherries are hard to come by......

Not at this time of year.

[Stubby]

11 minutes ago, placeholder said:

Is the fact that petrol prices are rising in the UK the fault of the baht, also? Petrol prices are rising worldwide.

It's true, petrol prices are rising everywhere.  The oil industry must be the only business where price fixing is not a crime. You'd think OPEC would increase output to keep costs reasonable amid a global pandemic. Also, oil prices are closely linked to inflation... not that the producers give a monkey's.

Anyway, I digress, but couldn't resist a cheeky response to the above.

Stubby

[banagan]

About time, back to a realistic level. 

[placeholder]

6 minutes ago, Stubby said:

It's true, petrol prices are rising everywhere.  The oil industry must be the only business where price fixing is not a crime. You'd think OPEC would increase output to keep costs reasonable amid a global pandemic. Also, oil prices are closely linked to inflation... not that the producers give a monkey's.

Anyway, I digress, but couldn't resist a cheeky response to the above.

Stubby

Actually, oil prices aren't that influential in respect to inflation anymore. There have been huge improvements in efficiency since the the 80's.

https://www.investopedia.com/ask/answers/06/oilpricesinflation.asp

[scubascuba3]

7 minutes ago, Stubby said:

The oil industry must be the only business where price fixing is not a crime. 

Price fixing seems fine in Thailand, so often manufacturers don't compete on price

[NeoDinosaw]

7 hours ago, 10baht said:

Sorry fellows, I would have like to see : Thai govt says no need to panic  baht is not going lower. 

Maybe the Thai Gov got this wrong !!