Baht Weaker as Omicron Surges, Dollar Spikes

[snoop1130]

 

BANGKOK (NNT) - Krungthai Bank market strategist Poon Panichpibool predicted that the Thai currency would move between 33.45 and 33.65 per US dollar, noting that it could be even weaker because of the pressure from the strengthening dollar and the Omicron outbreaks.

 

The Public Health Ministry raised the Covid-19 alert level to 4 so Thai investors will need to speculate if foreign investors are worried about the Omicron situation. The situation may prompt foreign investors to adjust their asset allocations including reducing possession of Thai assets and Thai stocks in the short term.

 

However, there has not been a large sell-off of short-term bonds, which signifies that foreign investors do not expect the Thai currency to devalue in a drastic manner.

 

The baht’s key resistant level is anticipated to range from 33.20 baht to 33.30 baht per US dollar.

 

-- © Copyright NNT 2022-01-07

 

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[worgeordie]

But .....it always seems to bounce back .

regards worgeordie

[RichardColeman]

Easy to see where Anutin and co start spouting tourist nonsense

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=1W

Edited January 7, 2022 by RichardColeman

[Soikhaonoiken]

6 hours ago, worgeordie said:

But .....it always seems to bounce back .

regards worgeordie

Also with the little help of manipulation.... 

[Isaan sailor]

9 hours ago, worgeordie said:

But .....it always seems to bounce back .

regards worgeordie

You got that right.  They can’t leave well enough alone.

Edited January 7, 2022 by Isaan sailor

[hotchilli]

11 hours ago, snoop1130 said:

However, there has not been a large sell-off of short-term bonds, which signifies that foreign investors do not expect the Thai currency to devalue in a drastic manner.

History has proven the baht to be teflon coaated.

[brianthainess]

While with the rest of the worlds currencies the Baht is stronger. As usual just about the USD. ????

[sandyf]

2 hours ago, hotchilli said:

History has proven the baht to be teflon coaated.

It is about management of foreign reserves and lessons learned from financial crisis.

Towards end of last year, Thailand  was substantially higher than UK  and not  a lot below US. Pre pandemic about 13th in the world.

 

https://knoema.com/atlas/Thailand/topics/Economy/Short-term-indicators/Foreign-exchange-reserves

 

https://knoema.com/atlas/United-Kingdom/topics/Economy/Short-term-indicators/Foreign-exchange-reserves

 

https://knoema.com/atlas/United-States-of-America/topics/Economy/Short-term-indicators/Foreign-exchange-reserves

[StayinThailand2much]

2 hours ago, hotchilli said:

History has proven the baht to be teflon coaated.

Has nothing to do with the baht, but rather the ridiculously high foreign currency reserves, among the highest in the world.

Edited January 8, 2022 by StayinThailand2much

[crazykopite]

Yesterday I transferred £1,000 via Wise was in my SCB within 5 minutes got 45,400 ,00 Thai baht along way off when in 2005 I was getting 74 baht to the £ but better than last weeks rate 

[BritManToo]

5 minutes ago, crazykopite said:

Yesterday I transferred £1,000 via Wise was in my SCB within 5 minutes got 45,400 ,00 Thai baht along way off when in 2005 I was getting 74 baht to the £ but better than last weeks rate 

What were you getting in 1997?

[placeholder]

14 hours ago, worgeordie said:

But .....it always seems to bounce back .

regards worgeordie

Are you aware that there's a downside to bounces?

https://www.google.com/search?q=dollar+to+baht&oq=dollar+t&aqs=chrome.0.69i59j69i57j69i60.2059j0j4&sourceid=chrome&ie=UTF-8

 

[KhunLA]

Spikes ... ????

 

When it's ฿40 / $1 ... I might call it a spike.  Only care if it goes below ฿30, anything above ฿35, that will bring a big smile to my face.

 

Anything in between, isn't news worthy.

[digger70]

3 hours ago, brianthainess said:

While with the rest of the worlds currencies the Baht is stronger. As usual just about the USD. ????

Yea funny that hey. I don't care about the $US

I get paid in $AUD  and the THB is still 0,9 THB stronger than 1 Month ago.

[John Drake]

15 hours ago, worgeordie said:

But .....it always seems to bounce back .

regards worgeordie

At least it always seems to do so right before social security transfers my monthly payment around the 3rd.

[sandyf]

2 hours ago, digger70 said:

Yea funny that hey. I don't care about the $US

I get paid in $AUD  and the THB is still 0,9 THB stronger than 1 Month ago.

You should care about the USD. Thailand has a significant amount of USD in the foreign reserves, a move that followed the financial crisis. A stronger USD helps prop up the baht.

[OneeyedJohn]

I transferred today at 45.72 to the £

 

[digger70]

2 hours ago, sandyf said:

You should care about the USD. Thailand has a significant amount of USD in the foreign reserves, a move that followed the financial crisis. A stronger USD helps prop up the baht.

Why should I, I get paid in $AUD  I only look at what the rate is for AUD THB sometimes it goes up a bit sometimes it goes down a bit. over the last 10 yrs it has gone down a Lot.

They said the THB was Weakening ,That's only against the $US Not against the $AUD. 

I  only will start Laughing when we get THB 30 Like 10 yrs ago. (ain't gonna happen ) 

it's now THB 24 for a $ AUD  So don't tell me to care about the $US.

[sandyf]

16 hours ago, digger70 said:

I  only will start Laughing when we get THB 30 Like 10 yrs ago. (ain't gonna happen ) 

it's now THB 24 for a $ AUD  So don't tell me to care about the $US.

You took it the wrong way round.

You will only ever start laughing if the USD were to nosedive, something I certainly care to happen.

The days of 75/£ are now a distant dream.

[BritManToo]

1 hour ago, sandyf said:

The days of 75/£ are now a distant dream.

35/pound lasted a lot longer than 75/pound.

Why concentrate your thoughts on a brief and anomalous high?

At 45/pound we're still doing a lot better than the Australians/NZers and Canadians.

They're down 20% and we're only down 10% on the past 10 years.

Edited January 9, 2022 by BritManToo

[sandyf]

5 hours ago, BritManToo said:

35/pound lasted a lot longer than 75/pound.

Why concentrate your thoughts on a brief and anomalous high?

At 45/pound we're still doing a lot better than the Australians/NZers and Canadians.

They're down 20% and we're only down 10% on the past 10 years.

Hardly brief. It was 60/£ when I first came in 99 and rising, it was another 10 years before it was back down around that mark. Down to around 51 when brexit kicked it in the teeth, but I never saw 35, think the lowest I ever exchanged at was just over 37, XE shows the lowest point at 36.9 in Aug 2019.

I take it you can show us for how long and when it was at 35/£.

[KhunLA]

GBP loss against the THB had nothing to do with a 'free floating' market, or what is suppose to resemble it.  That was punishment for Brexit.  You can thank the Rothschilds / Central Banking / EU for that.

 

 

[gamb00ler]

On 1/8/2022 at 12:43 PM, John Drake said:

At least it always seems to do so right before social security transfers my monthly payment around the 3rd.

You could always fool them by having your SS deposited to a US bank and then jump on the expected bounce after the usual SS payment date.  555

[worldexpress]

Let's go, 40! 

I think 40 is a very nice number all parties can live with.

[Isaan sailor]

1 hour ago, gamb00ler said:

You could always fool them by having your SS deposited to a US bank and then jump on the expected bounce after the usual SS payment date.  555

That’s how I do it.  SS goes into US bank account—then bring in $$ only when the rate suites you (or whenever you really need it).  I can’t see any real advantage rate-wise to auto-depositing SS.  And SS doesn’t care if expats direct payments to a US account.

Edited January 9, 2022 by Isaan sailor

[Metapod]

would love for the dollar to be 35+ again