Fears for the baht as it hits a 15-year low and Thai economic performance in the medium term

[Lemsta69]

3 minutes ago, brianthainess said:

I left OZ when the AUD was Higher than the USD ????

shoulda converted it all into USD and bought AMZN or $BTC.

[brianthainess]

45 minutes ago, vandeventer said:

With the prices going higher and the Baht going lower this will have a huge effect on the Thai people that don't get a cost of living  increases in pay. example, I get a cost of living increase twice a year on my pension.

????????

[KhunLA]

2 hours ago, sandrew33 said:

Extremely narrow focus of Baht v USD. 

AUD was almost 33 Baht a decade ago it’s now 25 baht. 

Perhaps remove the focus on USD and take a bigger picture view? 

Perhaps join the 21st Century, instead of living in the past.  USD was 53.9 baht 1Jun98.  Who cares, as doesn't help now.  40 in 2020 when I got here, up to 45, then dropped to 29, now back to 35.

 

All I care about is what it will be when it gets deposited in my account here.  Not that there's anything I can do, except rejoice it's not longer 29.

 

Cigarettes used to be $.33 cents a pack for Pall Mall.  My brother and I used to fight over who went to the store to buy them for our parents, as we got the change from $.35 cents.  2 cents bought 2 X 5 pieces of candy that contained 5 pieces inside.  50 chewables ... pure bliss to a 5-6-7 yr old.

 

1st salaried job I got paid < $1 an hour.  Paper route before that was $12 a week and I was happy to have that.  Beginning of the financial empire ????

 

All totally irrelevant to my next deposit at the bank, and how much it will cost to make beef jerky this week for me & the dog.

 

Biggest fear is Singha stopped making Kopper Craft beer, and I now have to go back to Snowy.  Mind you, not the end of the world.

 

 

[brianthainess]

1 minute ago, Lemsta69 said:

shoulda converted it all into USD and bought AMZN or $BTC.

So lose money on the exchange rate, wonder why I never gave that a thought.

Shoulda, coulda, woulda.

[Lemsta69]

2 minutes ago, brianthainess said:

So lose money on the exchange rate, wonder why I never gave that a thought.

Shoulda, coulda, woulda.

lose money, how do you figure that? if you'd bought a big chunk of USD at parity or higher (the peak was AUD1 = USD 1.07 I think), you'd be laughing all the way to the bank right now. 

[Fairynuff]

2 hours ago, jacko45k said:

Why focus on Sterling..... ?

It is a weak currency in a dire political situation and carries massive debt. They just announced 9% inflation there and are heading into widescale strike actions. Third world numbers....

The UK is a basket case that voted to impose economic sanctions on itself.

[Will B Good]

5 hours ago, webfact said:

and a rapidly ageing population

Can't see how they will tackle this as, apart from some cheap labour for construction work.............foreigners will not be allowed in.

 

Merkel, it is claimed, saw this problem and let in the Syrians......Syrian doctors, dentists, architects, surgeons that is.....clever.

[vandeventer]

34 minutes ago, brianthainess said:

I left OZ when the AUD was Higher than the USD ????

That must have pre 1969? You poor guy. But that's the time when I came to Australia and lost almost 40% on the exchange rate , than they floated the Aussie dollar and  it took a nose dive against the USD ever since.

[shackleton]

For those of us who transfer Sterling pounds to Thailand 

I think is wishful thinking for  the Baht rate getting more for the pound

The UK economy  is in a mess cost of living. Fuel food. Now strikes people wanting  more pay 

I can only see the pound suffering against the American $ and Thai Baht 

Hope I am wrong time will tell ????

 

[Mywayboy]

On 6/17/2022 at 11:21 AM, sammieuk1 said:

Was he not Russian yesterday! and today? ???? 

 

58 minutes ago, kevin612 said:

The baht was strong for many years, let it weaken for one year.  Why the heck this dude want baht stay strong forever.

Baht totally overvalued for many years.

Falsely inflated by the powers to be for years I'm afraid.

[Old Croc]

17 minutes ago, vandeventer said:

That must have pre 1969? You poor guy. But that's the time when I came to Australia and lost almost 40% on the exchange rate , than they floated the Aussie dollar and  it took a nose dive against the USD ever since.

The AUD was buying 1.05 USD in April 2013.

 

My superannuation scheme has just announced a rise of 3.5% following interest rate rises in Australia.

[David T Pike]

What fake news! The baht was lower 5 years ago when it hit 36.4 to the dollar.

[crazykopite]

Back in 2005 I was getting 74+ baht to the £ wise rate this morning is 43.4 to the £  . Prices over the past month have risen sharply and here on the islands petrol is now 47+ to the litre a month ago I could buy a cooked chicken in Big C for 109 bht yesterday 130 bht . The bht has been manipulated so much so that by the end of the year I can see it going belly up and who will suffer the normal working people 

[crazykopite]

8 minutes ago, shackleton said:

For those of us who transfer Sterling pounds to Thailand 

I think is wishful thinking for  the Baht rate getting more for the pound

The UK economy  is in a mess cost of living. Fuel food. Now strikes people wanting  more pay 

I can only see the pound suffering against the American $ and Thai Baht 

Hope I am wrong time will tell ????

 

It’s not just the U.K. the rest of the world is suffering there are strikes in Europe as well billions are being invested into the U.K. markets by major companies relocating from overseas its not all gloom and doom but like you I wish I was getting a better rate for my £ . I use wise there fees are way cheaper than the banks and I have always found them to have the best exchange rates .

[SymS]

3 hours ago, ExpatOilWorker said:

Total garbage article. The baht is not at a 15 years low, it was 36.3 to the US-$ back in October 2015.

They did not use the best of words, but they probably mentioned that because that was also the price at one point in 2007.

[brianthainess]

34 minutes ago, vandeventer said:

That must have pre 1969? You poor guy. But that's the time when I came to Australia and lost almost 40% on the exchange rate , than they floated the Aussie dollar and  it took a nose dive against the USD ever since.

2013. and interest on my super was 11% then it all crashed. At that time I wasn't even on the internet, only at cafe's sometimes to check my e-mail. 

[Eric Loh]

1 hour ago, Mywayboy said:

 

Baht totally overvalued for many years.

Falsely inflated by the powers to be for years I'm afraid.

I am curious to learn from a better mind as to why the powers that falsely inflated the Baht don't do the same now. 

[hotchilli]

7 hours ago, webfact said:

While the kingdom maintains a strong external financial situation and prudent fiscal management to support its economy, the growing impact of chronic problems such as household debt and a rapidly ageing population as well as inequality and political instability are undermining any prospect of decisive action to find a solution. The result is an economy that has now performed below its regional peers for years

Time for a change of leadership?

[tjo o tjim]

5 hours ago, cardinalblue said:

International travel to/from Asia is sky high; tourists won’t be coming nor expats going home this summer

It was far cheaper for us to get to Thailand than Europe from the US.  Tourist destinations seem relatively busy given the limited options for them.

[Isaan sailor]

4 hours ago, ThailandRyan said:

35.46 Thb to $1 this morning, not sure why it dropped, but lets see what happens when the banks open.  Waiting on 36 to transfer a chunk needed for a purchase.

35.43 on USD now.  Looks like the Baht going the wrong way.

[Skeptic7]

Total load of ???? headline. THB was at 36.48 in October 2015 and well above 36 in early 2016 and 35.81 on 1 January 2017 against USD. Lie-Land. 

[GroveHillWanderer]

5 hours ago, RichardColeman said:

Fears for the baht as it hits a 15-year low

 

Really ? The £/baht was higher than currently last week ! Talk about a nonsense headline

True but (although as some have pointed out, it may be wrong in its conclusions) the article is quite clear that it is talking about, "The Thai baht [...] against the US dollar."

[ThailandRyan]

6 minutes ago, Isaan sailor said:

35.43 on USD now.  Looks like the Baht going the wrong way.

Market manipulation it would seem, as nothing has changed since last Friday.  Maybe the BOT has used their USD surplus to buy more Baht....

[Eric Loh]

BOT this morning at an analyst meeting has dropped a big hint on hiking interest rate. Their focus will be on monetary policy adjusted in a timely manner to keep inflation expectation anchored. BOT will hope that it will reverse the capital outflow and stablize the Baht and together will tourism increasing that will creat demand for Baht. Don't think it will effective to strengthen against the hefty rate increase by FED but certainly possible to stabilize the Baht which is much needed for the economy.

 

[ThailandRyan]

2 minutes ago, Eric Loh said:

BOT this morning at an analyst meeting has dropped a big hint on hiking interest rate. Their focus will be on monetary policy adjusted in a timely manner to keep inflation expectation anchored. BOT will hope that it will reverse the capital outflow and stablize the Baht and together will tourism increasing that will creat demand for Baht. Don't think it will effective to strengthen against the hefty rate increase by FED but certainly possible to stabilize the Baht which is much needed for the economy.

 

They are praying that the FED does not uncork another .5 to .75 basis hike coming up after the G7 summit.  Prices are rising globally and that goes for everything imports and exports.

[Skeptic7]

2 minutes ago, ThailandRyan said:

They are praying that the FED does not uncork another .5 to .75 basis hike coming up after the G7 summit.  Prices are rising globally and that goes for everything imports and exports.

They're gonna need more than worthless prayers. The .75 hike next month is a lock and .5s after that. 

[Eric Loh]

9 minutes ago, ThailandRyan said:

They are praying that the FED does not uncork another .5 to .75 basis hike coming up after the G7 summit.  Prices are rising globally and that goes for everything imports and exports.

The FED hasn't hiked interest rates this agreesive in decades. So far FED has hike rate by 1.75 percentage points this year and will most likely to push rate all the way up to 2.75-3 percent. How will BOT respond and is there risk that the FED hike does more harm than good to the economy. A recesssion will take the sail out of dollar strength. 

[Lacrimas]

Yeah fear that the elite won't be able to take advantage of a strong baht when going to shopping to the US? Hope it falls to 40 so this country can start living again.

[userabcd]

3 hours ago, Mywayboy said:

 

Baht totally overvalued for many years.

Falsely inflated by the powers to be for years I'm afraid.

More evidence and details explaining why this is so would be welcome.

[Isaan sailor]

They’re trying to talk the USD down—and it seems to be working today.