Appreciated or Revalued?

[morrobay]

Right but  again.  How   is it manipulated. ? 

[mikebell]

If the powers-that-be are going to let the baht 'swing', it suggests they have been manipulating it hitherto.

[TallGuyJohninBKK]

1 hour ago, Excel said:

And also it indicates what many of us have been telling people, which the Thai apologists have been denying all along, that the baht will continue to be manipulated as has been the case the last few years.

 

That's the main takeaway I got from reading the OP report. Nice to see them finally publicly admit it.

 

[morrobay]

How many times do I have to ask.  It's manipulated that's common knowledge  The question again is how is this manipulation done.  That is the " mechanism "  Some of you folks forget your coffee this morning 

Edited March 30, 2022 by morrobay

[thaibook]

2 hours ago, ThailandRyan said:

 

The Baht's fluctuation in its current manipulated state indicates a problem exists for those on the lower end of the food chain.  Then add in the Inflation or stagflation this country is seeing and like everything else an implosion is going to be felt, but by whom.

There is inflation but with growth of even 2%-3% I doubt it could be termed stagflation.

[Joules]

3 hours ago, blazes said:

So long as it swings LOW, so that we can board our sweet chariots from various parts of the world to shop once more at Tesco Lotus...

Tesco?  there is no more Tesco Lotus.  Lotus has become a part of the Great CP Farm to Table Monopoly.

[ThailandRyan]

36 minutes ago, morrobay said:

Sure it is for the benefit of those buying property in other countries etc.  But exactly in what ways is this done and by who?

That is the 64k Dollar question as the old show use to say...

[LosLobo]

4 hours ago, zaZa9 said:

The baht is certainly down.

I got 25 baht for an Australian dollar over the counter  at an exchange yesterday for the first time since late 2017 !

 But of course I still yearn for the days I got a casual 28 to 29 when I first arrived in 2008 !

I remember 2008 well! I retired to Thailand in 2008, based on an exchange rate of 33 baht in July 2008. In October when it dropped to 20 baht, I was wondering if I had made the right decision. In retrospect it was!

[thaibook]

5 minutes ago, morrobay said:

How many times do I have to ask.  It's manipulated that's common knowledge  The question again is how is this manipulation done.  That is the " mechanism " 

What is the evidence?  Prior to covid, Thailand was fiscally conservative with limited government borrowing and with a current account surplus.  Hence one would expect as a general trend  appreciation of the currency.  Interest rate differences between it and its major trading partners can play a role as can domestic borrowng and liquidiity issues. 

 

Overall, I would say changes to the trend whether up or down are more determined by the trading partners' economies than Thai policies.  

[placeholder]

19 minutes ago, morrobay said:

How many times do I have to ask.  It's manipulated that's common knowledge  The question again is how is this manipulation done.  That is the " mechanism "  Some of you folks forget your coffee this morning 

The assertion that it's "common knowledge" is just another way of saying someone believes something but have no hard evidence to support it. Or is there some rigorous statistical analysis somewhere that points to manipulation being the case?

[csmith]

What a great phrase …. “appeared to urge the Bank of Thailand”

[onthedarkside]

A series of off-topic, grammar police posts have been removed or edited.

 

[Captain Monday]

Tourism? Doomed until entry schemes are abolished and quarantine of otherwise healthy people

[Pedrogaz]

I remain skeptical that a slightly cheaper holiday would replace all the negatives surrounding ASQs and stuff. Of course a cheaper baht means more exports for Thailand which will benefit manufacturing.

[brianthainess]

5 hours ago, zaZa9 said:

The baht is certainly down.

I got 25 baht for an Australian dollar over the counter  at an exchange yesterday for the first time since late 2017 !

 But of course I still yearn for the days I got a casual 28 to 29 when I first arrived in 2008 !

I got 24.738 yesterday on TT BKB today down already down 0.1+

[ThailandRyan]

33.70 baht per USD today on a transfer into my K-Bank account.

[Morty T]

I think this is referred to manipulating the currency. Hopefully US safeguards will kick in and raise trade barriers and tariffs on thai goods. Much like the thais do themselves with everything foreign.

[Isaan sailor]

21 minutes ago, ThailandRyan said:

33.70 baht per USD today on a transfer into my K-Bank account.

I got 33.795 on my USD two days ago.  33.39 at the moment.  Mai dee. 

[JimmyJ]

4 hours ago, Excel said:

And also it indicates what many of us have been telling people, which the Thai apologists have been denying all along, that the baht will continue to be manipulated as has been the case the last few years.

How is the manipulation accomplished?

[fulhamster]

6 hours ago, blazes said:

So long as it swings LOW, so that we can board our sweet chariots from various parts of the world to shop once more at Tesco Lotus...

Mr CP will be happy

[Isaan sailor]

OK, Thai planners, now that you’ve let the Baht swing up nearly 2% on the USD in the last 48 hours….could you please let the Baht swing down?

[suzannegoh]

9 hours ago, CartagenaWarlock said:

When is dollar going to be 40 baht. Will transfer a million baht to keep a reserve in Thailand. 

High roller.

[sandyf]

6 hours ago, Excel said:

And also it indicates what many of us have been telling people, which the Thai apologists have been denying all along, that the baht will continue to be manipulated as has been the case the last few years.

So tell us how long can they afford to manipulate a crashing currency, been about the same to the £ for around the last 6 years.

Of course the sudden strengthening in 2016 had to be manipulation, nothing to do with brexit. As in 2019, no chance whatsoever the £ got weaker.

It will  obviously come as a surprise to you that every country in the world manipulates it's currency in line with changing circumstances.

[pokerface1]

6 hours ago, Cake Monster said:

I cannot fathom out why the baht would appreciate as it has done over the last 2 Days or so.

Due to the Russian Invasion of Ukraine, Thailand is going to be one of the Countries that will be hit really hard when all the futures of Raw Materials take effect maybe next Month.

Raw material Commodities costs, such as Oil, Gas and Nickel Etc along with other Commodities such as Wheat and Fertiliser, are going to hit the Economy hard in the Export Sector and Agri Sector.

The only reason that springs to mind is the Forex speculators hedging for a quick profit.

 

The Russian oligarchs are coming to buy up the Thai Baht it's just a rumour so lets see what happens.

[John Drake]

11 hours ago, webfact said:

This leaves the route open to a weakening baht which may boost export competitiveness and tourism receipts in the short term

So, is this an admission that for the past seven years they have kept it artificially strong against the dollar?

[ThailandRyan]

5 minutes ago, John Drake said:

So, is this an admission that for the past seven years they have kept it artificially strong against the dollar?

The Thai baht has been artificially strong for almost a 10 year period, except for a small amount of time when it shrank.  With a lack of true tourism and a lack of exports bringing in a higher GDP and the GDP forecast being lowered as well as inflation occurring one has to wonder, how can this be, especially if the currency reserves have been reduced, but then selling green backs to buy Baht will and does have an effect as well as the constant drivel by this Government......My view unfortunately.

[pokerface1]

5 hours ago, morrobay said:

How many times do I have to ask.  It's manipulated that's common knowledge  The question again is how is this manipulation done.  That is the " mechanism "  Some of you folks forget your coffee this morning 

Countries manipulate the value of their currency by buying and selling in currency markets in order to make their exports cheaper and imports more expensive. that's one way they manipulate the currency.

[sitti]

???? of course when FX doesn't work in your favor,  it's always thailand's fault. 

 

What do you think Western countries especially US have been doing, particularly after Covid started. They have been printing $hit load of money like crazy. That IS the real manipulation. Now they are starting to face the consequences of it. Cough, cough, inflation 

 

Why Baht still remains strong? Thailand didn't print money like crazy. They mainly issued bonds and  country's debt still remains below 60% of GDP. 

[ThailandGuy]

after all these years that everybody was complaining about the strong baht currency they now suddenly see the light because tourist stayed away?  They are not coming because of the ThailandPass requirements. Not because of the (poor) baht exchange. But then again weakening the baht would enable people to come more then once and invest more into the Thai economy. When the baht was 50 to a euro i came twice a year to Thailand. At 35 i will most certainly not. What took them so long to figure this out?

[metisdead]

Off topic posts and replies about US Social Security payments have been removed.