Baht drops against dollar to 5-year low, poised to drop further

[webfact]

 

By Panithan Onthaworn

 

The baht weakened to 34 baht against the US dollar on Tuesday, its lowest point against the greenback in five years, due to growing concerns on global economic situations, with analysts warning of further losses.

 

The Thai currency opened at 34.07 baht per US dollar on Tuesday, a level not seen since 2017, weakening from Monday’s close of 34.04.

 

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Poon Panichpibool, a market strategist at Krungthai Bank, said the currency market is avoiding mounting risks arising from the Federal Reserve’s interest rate hikes and the Covid-19 outbreak situation in China. 

 

Full story: https://www.thaienquirer.com/39692/baht-drops-against-dollar-to-5-year-low-poised-to-drop-further/

 

-- © Copyright Thai Enquirer 2022-04-26

 

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[MyFriend You]

40 Baht per $$ by years end. -  Oh wait!!  -  I said that last year.............oh well, this may entice some tourists, 34 baht per $$ is nothing to sneeze at.

[potless]

Sterling also weakening steadily against the Dollar. The subject of exchange rates crops up on the forum from time to time. Members who may be interested can view historic exchange rates at the following website www.xe.com/currencycharts (sorry cant provide the link but easy enough). Choose the currencies you want to compare from the dropdown menu. Then choose the time period for up to 10 years.  

[Isaan sailor]

Lord knows we’ve suffered enough from an inflated Baht.  Will ride this horse a long as we can.

[hotchilli]

The teflon baht will recover.

[RichardColeman]

UK could publish the greatest financial figures ever and the pound would just blip for 24 hours before settling lower against the baht. 

[kingstonkid]

Silly question but is it a good time to transfer money into thailand

 

[CrunchWrapSupreme]

9,034.41 THB is now in your account.
That was really fast. Your money arrived in 4 seconds.
Transfer details
Amount:
268 USD
Rate:
34.105

[earlinclaifornia]

52 minutes ago, kingstonkid said:

Silly question but is it a good time to transfer money into thailand

 

I just transferred my $1400 stimulus 33.99

Edited April 26, 2022 by earlinclaifornia

[Iamfalang]

the trend is your friend.

 

definitely going to get weaker....that's 100%.   how weak?   nobody knows, but weaker than you think.

 

I'll guess 37 to United States of America currency, the only currency accepted in 87 countries.  joking, but not really joking.  lol

[thailand49]

I've a bit shocked everytime it gets close to 34 the powers to be send it back down last time just a few months ago it went to 33.84 next day here we go it went to 31.95 in less than two weeks.  Now we are back?????

[kingstonkid]

13 minutes ago, earlinclaifornia said:

I just transferred my $1400 stimulus 33.99

I still think it is hillaryous THAT UNCLE JOE  and Aosee give  money to people t hat live outside the country.

 

Might also be a bit jealous as Petit Pierre has not done the same for me.  LOL

[Skeptic7]

The Bulletproof Baht may be down, but it is never OUT. It's the Superman of currencies. 

[zzaa09]

57 minutes ago, Skeptic7 said:

The Bulletproof Baht may be down, but it is never OUT. It's the Superman of currencies. 

An easy guess that it might drop a couple full points amid the upcoming new "opening" dates. 

By July we might see the Baht holding at 36 +

 

In a round about convoluted manner, it benefits most everyone - even the domestic circles.

[Skeptic7]

4 minutes ago, zzaa09 said:

An easy guess that it might drop a couple full points amid the upcoming new "opening" dates. 

By July we might see the Baht holding at 36 +

 

In a round about convoluted manner, it benefits most everyone - even the domestic circles.

I'm onboard and in the "hopeful" camp...just seen THB's uncanny resilience too many times before.

[DrJoy]

5 hours ago, potless said:

Sterling also weakening steadily against the Dollar. The subject of exchange rates crops up on the forum from time to time. Members who may be interested can view historic exchange rates at the following website www.xe.com/currencycharts (sorry cant provide the link but easy enough). Choose the currencies you want to compare from the dropdown menu. Then choose the time period for up to 10 years.  

Sure its weakening, when the country is run by a sweet little ancient lady, what do you expect?

[1FinickyOne]

2 hours ago, kingstonkid said:

Silly question but is it a good time to transfer money into thailand

 

better than yesterday, but not as good as tomorrow... 

[saakura]

General elections are due in less than 12 months, so huge loads of cash stashed abroad will need to be brought back and converted to Baht for buying votes, so we can expect this to drop a bit more and be at that level for a while.

Edited April 26, 2022 by saakura

[ThailandRyan]

34.21 this afternoon when I transferred over my US federal tax return, a nice bonus of 1k baht over a few days ago when I was going to send it, but alas it was the weekend in the US and it would have sat queued until today anyway....lol 

[Isaan sailor]

It never fails.  Whenever I transfer USD to Baht—the Baht falls even more.  Happened again today @ 34.23.  Not really complaining though.

[Tropposurfer]

Im honest: I'm a greedy bar steward ... so I'm happy to know that my home currency will also benefit from the drop. 

[Onerak]

3 hours ago, kingstonkid said:

I still think it is hillaryous THAT UNCLE JOE  and Aosee give  money to people t hat live outside the country.

US does not discriminate people based on where they live but there is no universal health coverage like most Europe. 

[Lite Beer]

Quote

Silly question but is it a good time to transfer money into thailand

Not if it is Sterling. Falling against the Teflon Baht.

[Caldera]

Sink, baby, sink! I'm loving it, each and every satang I can get my grubby hands on. ????

[konaboy]

could the war have any effect?

[Mac Mickmanus]

The S % P has also started falling , how will that effect the $'s price ?

I previous was told by some people on here that the S&P always rises and you are guaranteed a 6% return on investments there 

[Onerak]

6 hours ago, Mac Mickmanus said:

The S % P has also started falling , how will that effect the $'s price ?

S&P is falling because of FED rate hike (which leads to higher dollar value) and FED control of money and investors are drumming up the fear of a US recession. A good time to buy as much BAHT as possible. 

[Onerak]

6 hours ago, Mac Mickmanus said:

I previous was told by some people on here that the S&P always rises and you are guaranteed a 6% return on investments there 

It has been rising for almost decades and made a million people 401K/real asset millionaire last year alone. It has to take a break and resume its gain again maybe by next year if no recession hits or within another three years if a  recession hits. 

Edited April 26, 2022 by Onerak

[wombat]

Just buy more Baht with the Foreign Exchange money all the sponsor's and punters are sending....the bloke that normally does this must be on holidays.

[flexomike]

11 hours ago, Isaan sailor said:

It never fails.  Whenever I transfer USD to Baht—the Baht falls even more.  Happened again today @ 34.23.  Not really complaining though.

hey I made my large yearly transfer a couple of months ago, it was dropping pretty fast so I didn't want to take a chance and wait, only got 32.12, if I did they same transfer today it would be over 30,000 baht more, if it weren't for bad luck I'd have no luck at all - 555