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


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11 hours ago, Eric Loh said:

US dollar is sucking up all the air in capital flows attracted by the prospect of US rate hikes and the safe-haven sanctuary fanned by impending slow growth in China and Europe. All currencies bow to the mighty dollar but for how long. Big rate hikes and inflation will deflate US domestic spending and will lead to unemployment and recession. When the situation improve in China and Europe, US dollar will reverse course. Baht will recover with the impertus from trade surplus in March and the better tourist in-flows post May. Those who wish to take advantage of the weak Baht for exchange purposes need to time yourself to reap the best reward. 

Let's not get overconfident about the situation in China. It has badly mishandled the real estate situation. And its mismanagement via lockdowns of the covid pandemic is now turning dire. All part of Xi's increasing  heavy-handedness in dealing with the economy. 

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Not many talk about inflation here as there is very little now.  But, it is coming especially since the government just announced they will no longer be supplementing the higher fuel prices.

I would keep an eye on the exchange and make larger transfers when it appears to be peaking. 

Edited by bkk6060
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9 hours ago, Skeptic7 said:

It's down against USD...the measuring stick...but your point is well taken. USD is strengthening and up against most other currencies.

Exactly... we are looking at dollar strength here. That is the currency the baht tries to keep within a range with. It is significant that it is outside that range 

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35 minutes ago, jacko45k said:

Exactly... we are looking at dollar strength here. That is the currency the baht tries to keep within a range with. It is significant that it is outside that range 

A stronger Dollar is a gift to exporters.  I hope they can take advantage of this, and help the economy.

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1 minute ago, Isaan sailor said:

A stronger Dollar is a gift to exporters.  I hope they can take advantage of this, and help the economy.

There is certainly been talk of that lately, with fruit exports to China, labour exports to KSA... but we have fuel imports on the other side of the coin. 

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Yep, THB is at a 5 year low  against the SGD$ so I closed out my Citibank Singapore account & got 60,000 THB more than I had in my budget spreadsheet… 

 

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Oh wait, we’re we talking about USD$ ????

Edited by Mike Teavee
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11 hours ago, placeholder said:

Let's not get overconfident about the situation in China. It has badly mishandled the real estate situation. And its mismanagement via lockdowns of the covid pandemic is now turning dire. All part of Xi's increasing  heavy-handedness in dealing with the economy. 

China never dealt well with crisis, reminds me of Mao's 1958 sparrow's war  555

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40 minutes ago, Isaan sailor said:

Baht comes roaring back today—up almost a full percent on the USD.  Other westerns go down in sympathy .  All hail the mighty Baht…

US yield curve is flattering, gold price rebound, emerging markets expecting rates increase and their stocks have been positive for last 2-3 days. Perhaps signs that USD strength has plateau and stage of reversing. Thailand has a current account surplus in March and may have contributed to Baht sentiment. 

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46 minutes ago, Isaan sailor said:

Thanks for your thoughts and information.  Nevertheless, it feels quite disturbing and suspicious when the USD nosedives on a Friday afternoon.

Politics...... maybe they need to put a down payment for the F35's ..... 555

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39 minutes ago, Mavideol said:

Politics...... maybe they need to put a down payment for the F35's ..... 555

Pretty good guess.  Look at USD to Vietnam Dong today—Dollar rose up.  USD to Philippians Peso today—flat, or a slight rise.  In Southeast Asia, only Thailand’s currency rose dramatically today—very suspicious.

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