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Banks downgraded as the Thai economy faces a liquidity crisis caused by war and tourism barriers


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1 minute ago, RichardColeman said:

I sure bet the new ex-bargirl G/f of a man I just met hopes this does not happen. She  is planning I think on completely fleecing him when he sells his house and all his UK assets in the coming months to come and live here !

Don't understand. She'll be getting more baht than before, unless the GBP is tanking too.

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6 hours ago, ezzra said:

wouldn't want that to happen, i got <deleted> load of bahts in Thai banks at the moment, not to mention my properties... 

FYI, cash/baht is being decimated (due to inflation. E. g. Eggs are up ~10% this week). And the property market is stagnant at best here. Certainly not like in California. 

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44 minutes ago, wombat said:

 

With that pesky treasury buying baht with the money in the foreign exchange account it isn't going to happen.

The flow on from Europe having to pay for gas in Roubles not US dollars is only just starting to be felt.

If I was into doing the currency thing I'd be offloading $US and buying Roubles...the only place that Roubles can go is up in value and the only place $US can go is down.

Congratulations on your sanctions.

Wonder if the BOT will exchange the USD Greenbacks for Rubles to help support and back their friends in Russia.

Edited by ThailandRyan
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54 minutes ago, Lacessit said:

I wish just once I could time my transfers at peak value, got 24.8 baht last week.

Never mind, I suppose it's better than being Russian.

The guarantee on deposits up to 1 million baht may be next.

Or maybe 2 million, you never know what genius ideas they have in government to get everyone out of the country.

 

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1 hour ago, Lacessit said:

I wish just once I could time my transfers at peak value, got 24.8 baht last week.

Never mind, I suppose it's better than being Russian.

The guarantee on deposits up to 1 million baht may be next.

I rememember being disappointed when we only used to get 28/29 for the

$Aus must have been 11/12 years ago.

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I am surprised it has taken so long. The banks in Thailand has lent billions to the construction industry to erect unsaleable buildings. This is in part due to Covid but was a problem before the pandemic occurred as the property market has been in recession for years due to oversupply. If bad debts were correctly provided for then I wouldn’t be surprised to learn that they have been trading while insolvent which is illegal. This is an accounting and enforcement issue so provides good opportunities for banks to show their appreciation. 

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11 minutes ago, CiderFizz said:

.......................... The banks in Thailand has lent billions to the construction industry to erect unsaleable buildings. This is in part due to Covid but was a problem before the pandemic occurred as the property market has been in recession for years due to oversupply.........................

I agree with you. And they still cannot (or do not) stop building if you just look around.

What is a mystery to me though, is why prices for property for have not unhalfed.

Edited by moogradod
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4 hours ago, tonray said:

Time to up the Retirement Visa requirements to shore up the banks...ha ha ha...maybe OA Visa "Bank Failure" insurance ?

It is anyway a very long time it was brought up to 800 000 Thb ....i got since that 2008 already a 25 % increase on my pension in those 13 years (at a 2% a year approx)...so a 1000 000 Thb would be a  logic new amount .

But the bad tourisme factor withold them i to do this i guess ....( Let's hope ????)

Edited by david555
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6 hours ago, Gold Star said:

The high flying Baht may get it's wings clipped.

Nothing very high-flying recently about THB, which has been trading weak (but not necessarily against GBP and EUR, which have their own problems). Should certainly go weaker on high oil price.

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Just now, ThailandRyan said:

Fever, Upper respiratory, Nausea, Dizziness, Fatigue, sneezing, coughing and a loss of taste and smell.  Day 11 my taste and smell started coming back. Today Day 12 starting t finally feel free of the brain fog and the congestion has decreased.  No my sinuses are the major issue.  Slept for a few days almost all day long.  The GF had the same symptoms except she had a monster fever for 3 days and a major headache.  She after 14 days is still congested and coughing, yet yesterday her ATK test came back negative while mine still shows a slight line at the T. So tell me more, it may be mild for some but I was one step from driving to the hospital with the GF until her fever at 39 broke finally and her headache went away.

Yikes. Sounds horrific......cannot believe me and the wife have not caught it......spent most of the pandemic in the bars around Khlong Toei before being vaccinated or traveling back and forth to the UK afterwards!!

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3 hours ago, Lacessit said:

I wish just once I could time my transfers at peak value, got 24.8 baht last week.

Never mind, I suppose it's better than being Russian.

The guarantee on deposits up to 1 million baht may be next.

I now transfer my Nz pension and other funds,  through wise. That way, I only do transfers when the rates are quite high, like yesterday.. 

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