Thai Baht improves this week?

[peter48]

Does anyone know why the THai Baht has revived itself compared to UK pound?  In two weeks the pound has dropped to 44 something from 46 something? 

[david555]

i guess (only a guess ) the opening of the vaccination rollout over the country , and different age categories might give a renewed trust in Thailand handling and possible recovering of the covid 19 pandemic , and so a slight favoring economic preview ...?

 

And so the Thai baht's Teflon skin appears again ????

Edited August 25, 2021 by david555

[a3tsw]

It’s not just £ , over the last 2 Days it has risen against € $ ¥ and against local currencies Ringit , Singapore $

[stubuzz]

There a FED meeting in the US tomorrow.

[david555]

18 minutes ago, stubuzz said:

There a FED meeting in the US tomorrow.

But that does not explain baht wins also on € & Pound and other currencies

Edited August 25, 2021 by david555

[tomyami]

Export prices of some grades of white rice increased one percent due to new inquiries and the strengthening of the Thai baht.

[dabhand]

The improvement seems to have coincided with improved exports reported for July 2021.. Better than expected results.

 

https://www.thestar.com.my/aseanplus/aseanplus-news/2021/08/23/thai-exports-rise-203-year-on-year-in-july-beating-forecast

[david555]

29 minutes ago, david555 said:

But that does not explain baht wins also on € & Pound and other currencies

 

Edited August 25, 2021 by david555

[peter48]

30 minutes ago, stubuzz said:

There a FED meeting in the US tomorrow.

Unsure of your link with Fed's decisions or indications of future moves . Is it if dollar goes down developing economies like Thailand tend to benefit? 

[Moonlover]

28 minutes ago, david555 said:

But that does not explain baht wins also on € & Pound and other currencies

The Thai Baht cannot rise against one other currency and not the rest of them. It's all or nothing (unless one of the other ones fall of course, which can happen)

[david555]

8 minutes ago, Moonlover said:

The Thai Baht cannot rise against one other currency and not the rest of them. It's all or nothing (unless one of the other ones fall of course, which can happen)

That is what many hoping , Thai baht keeps loosing , but how come then my poor €  was low to small  36 baht for my Euro before , and when i came Th. in 2009 47.70 baht for my € by KK when changing a plot cash .....was the FED in holiday or so lately ? ???? ....., Teflon baht on the rise ...? or "The Biden $ effect " ( Afgh.) ....

Edited August 25, 2021 by david555

[bamboozled]

Thailand just but a huge amount of gold to shore up the banking...whatever that means exactly. But I think that news is today so it doesn't explain the past week of losses but would most likely make for a stronger baht, in my confused mind.

[1FinickyOne]

57 minutes ago, david555 said:

But that does not explain baht wins also on € & Pound and other currencies

There is never much 'explaining' that can be done on small moves in short periods of time... the line up and down is rarely straight... 

[david555]

Just now, 1FinickyOne said:

There is never much 'explaining' that can be done on small moves in short periods of time... the line up and down is rarely straight... 

so same for the commenting on it then ...?

[1FinickyOne]

22 minutes ago, david555 said:

in 2009 47.70 baht

oh my, 2009 - things do and will change.. 

[1FinickyOne]

Just now, david555 said:

so same for the commenting on it then ...?

comment all you want... surely that will move the markets as you like - - or maybe not

[david555]

2 minutes ago, 1FinickyOne said:

oh my, 2009 - things do and will change.. 

Hence my avatar as my € a sudden began sliding afterwards  together with the British pound ,  my  € needed a parachute to slowdown the fall ????

Edited August 25, 2021 by david555

[david555]

Just now, 1FinickyOne said:

comment all you want... surely that will move the markets as you like - - or maybe not

was not meant on my commenting only ....????

Edited August 25, 2021 by david555

[ezzra]

I need the THB to get stronger as i need to convert truck load of it to AUD to buy a property in Melb...

[david555]

3 minutes ago, ezzra said:

I need the THB to get stronger as i need to convert truck load of it to AUD to buy a property in Melb...

same for me in a way , leaving Thailand in 2022 so  all my baht to buy €'s.... and it was looking so nice before  at my € at a narrow 36/35 thb for a € ????..... anyway having good hope for it ????

Edited August 25, 2021 by david555

[seajae]

aussie dollar has dropped from 24.6 to 23.9 against the baht in the last week, not too bad 

 

[Caldera]

Overthinking it is probably futile, but what I can say is, I don't like it one bit!

[peter48]

Interestingly the pound dropped somewhat yesterday on Covid worries as there's a growing view expressed in FT about Isreal ( most ahead on vaccs but new rising cases) & today in FT on growing UK deaths,vaccine fading for most elderly since Jan/Feb etc and new term only weeks away as weather cools. All this is compouded by Brexit concerns on serious labour shortages, declining exports to EU & supply chain problems. 

 

In the end be it UK or US or Thailand its Covid figures which will determine currency rates as more cases means more stunted business growth. 

[thailand49]

It is anyone else when it comes to Thailand, unprofessionally I guess someone in power didn't like it being so weak so flipped the swtich?????

[MrJ2U]

17 hours ago, david555 said:

i guess (only a guess ) the opening of the vaccination rollout over the country , and different age categories might give a renewed trust in Thailand handling and possible recovering of the covid 19 pandemic , and so a slight favoring economic preview ...?

 

And so the Thai baht's Teflon skin appears again ????

Unfortunately. 

[Presnock]

I am no expert when it comes to  currency fluctuations but I also think logically and can look at

past data based on my many years here in LOS.  I notice that for the most part, at the end of one

month and the first few days of the following month, the local currency gets strong so foreign

currencies can't get as good an exchange.  Then as the month moves on, the local currency will

dive again until near the end of that month.  This has been happening more often than not.  I also

figure that most ex-pats would be transferring monies upon receipt from funds/organizations at

the beginning of each month vice changing funds throughout the month.  But, like I said I am no

expert but it looks to me like someone might be fudging the numbers for local currency strength.

 

[Chongalulu]

17 hours ago, Moonlover said:

The Thai Baht cannot rise against one other currency and not the rest of them. It's all or nothing (unless one of the other ones fall of course, which can happen)

Yes it can! Currencies often move independent of each other for their own reasons. To ascertain a single currency’s performance it’s measured (and averaged) against a set basket of currencies.

[kennw]

46 minutes ago, nchuckle said:

Yes it can! Currencies often move independent of each other for their own reasons. To ascertain a single currency’s performance it’s measured (and averaged) against a set basket of currencies.

Look at Moodys latest, Credit rating agency Moody’s has maintained Thailand’s credit rating at Baa1 with a stable outlook, in its annual credit analysis published yesterday, saying the government’s robust financial foundation allows the country to handle economic challenges.

[Isaan sailor]

1 hour ago, thailand49 said:

It is anyone else when it comes to Thailand, unprofessionally I guess someone in power didn't like it being so weak so flipped the swtich?????

HiSo's have a continuing need for the latest and greatest western cars, you know.

[shackleton]

I would think the pound to the American Dollar is the key a few months. Back $1.43. This week $1.37.50

The pound hovering around this price range hopefully not heading south 

In the coming days / weeks