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


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3 minutes ago, Will B Good said:

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!!

Your immune system must be pretty robust, I though mine was as well.  Many of the places we frequented before getting sick were cash free and only used bank transfer because they were afraid of money transferring the virus.

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3 hours 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.

IMO the Euro will be badly affected by EU member states having to pay for gas in Roubles but the USD will rise, not affected by the gas and seen as a safe haven.  Only currency which can be printed without inflationary effect.

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4 minutes ago, thaibook said:

IMO the Euro will be badly affected by EU member states having to pay for gas in Roubles but the USD will rise, not affected by the gas and seen as a safe haven.  Only currency which can be printed without inflationary effect.

But will that solve the Thai banks  eg. Thai gov. problem ...?

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58 minutes ago, Clydesdale said:

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.

Bs.. its been right where t is for years.  Manipulated and strong

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1 hour ago, david555 said:

so a 1000 000 Thb would be a  logic new amount .

And that would mean retirees keeping taking 200,000 out of money going into the Thai economy. Banks happy. But not retailers, restaurants, and the like. 

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Just now, John Drake said:

And that would mean retirees keeping taking 200,000 out of money going into the Thai economy. Banks happy. But not retailers, restaurants, and the like. 

It should only follow a logic we got 25% more in those years following yearly inflation .....

BTW  does the petrol company's pity anyone he has to pay more than before .... no .... so that is how it goes in the World 

 

But you are right in the less consumption ....... but it does not stop the spiraling trend of rising costs and need of increasing demands for higher compensation ($ £€¥...)

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Let us only hope the Th. Gov / Th. banks  go NOT restrict transferring out of Thailand as of now it is easy to send money out , as that would disturb really 

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7 hours ago, arick said:

Can somebody tell me what the rating is? I can't seem to see it in the article. 

The rating is some value corrupted by financial interests. 

 

 

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5 hours ago, Boomer6969 said:

Yeah, nothing  beats stability when it comes to currencies, hope it stays in the 32-34 range to the USD. Some guys are dreaming of getting a 50% increase on their pensions. Would be just enough to get drunk a couple of times, and then to consequences of the cataclysm would make them even poorer than before.

 

Just got this from my pension fund:

 

"In accordance with the UNJSPF Pension adjustment system, there will be an 8.6 per cent cost-of-living adjustment to the US dollar track of periodic benefits for this year. The adjustment will be applied effective 01 April 2022. Cost-of-Living Adjustment (COLA) letters with these details will be issued by the end of April 2022."

 

Is this good new? Nope.

Plus there was just a COLA increase of 5.9% to social security. 

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5 hours 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.

This is very likely to happen to be honest. Russia now demands payments for its resources in Rubles for any country that has put sanctions on Russia. So demand for Rubles is very likely to rise, just so countries like Germany can get their gas from Russia.

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4 hours ago, ThailandRyan said:

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

Thailand may get roubles anyway.

 

Russia is now invoicing gas sold to the West to be paid for in roubles.

 

It may ask that Thailand takes roubles for whatever Thailand exports to Russia.

 

I am not even an amateur economist, so I am unable to support my supposition with whatever financial logic, if any, would encourage that.

 

 

 

 

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12 minutes ago, racket said:

Get your money out from

this country ASAP! 

i am bizzy doing that already 3 years.... in slow motion .....????, now just the last part from immigration, the last 400K + needed for living costs for the last 5 month's awaiting .... ????.....leaving LOS 

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