Popular Post webfact Posted June 28, 2022 Popular Post Share Posted June 28, 2022 File photo for reference only If you're wondering why your American expat neighbors are whooping in joy it's only because of the exchange rate. This week the $US has hit 35 baht in what the authorities have called a many year low (or high depending on your perspective). However, your expat neighbors from Britain may be crying into their warm beer as the pound sterling is languishing with a recent recovery stalling. The pound had dropped as low as 42.2 baht on Superrich in mid June then rose to 43.45 last Friday. Today's Superrich top rates: US Dollar : 35.25 baht Euro : 37.25 Pound : 43.20 $ Aus : 24.35 $ NZ : 22.10 $ Can : 27.35 -- © Copyright ASEAN NOW 2022-06-28 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Easiest way to own or rent a car in Thailand - click here to find out more! Get your business in front of millions of customers who read ASEAN NOW with an interest in Thailand every month - email [email protected] for more information 3 1 Link to comment Share on other sites More sharing options...
Popular Post Pattaya Spotter Posted June 28, 2022 Popular Post Share Posted June 28, 2022 All the members who have been prophesying the demise of the ???????? ???? for years must be eating bowls of humble somtum right now ???? ???? ???? As I always advised them...don't bet against Uncle Sam ???????????? 13 5 Link to comment Share on other sites More sharing options...
Popular Post VocalNeal Posted June 28, 2022 Popular Post Share Posted June 28, 2022 So it's back to 2007 value? Whoopdeedoo 1 1 3 Link to comment Share on other sites More sharing options...
Popular Post ThailandRyan Posted June 28, 2022 Popular Post Share Posted June 28, 2022 Why have we dropped .27 baht per USD since Friday. There is no reason unless some type of manipulation is at hand. We'll now it's only a drop of .16 baht per USD, but still what's affecting this and whose playing with exchange rates by purchasing Thb with the USD in the reserves, is it the BOT? 2 1 3 Link to comment Share on other sites More sharing options...
Popular Post Eric Loh Posted June 28, 2022 Popular Post Share Posted June 28, 2022 5 minutes ago, ThailandRyan said: Why have we dropped .27 baht per USD since Friday. There is no reason unless some type of manipulation is at hand. We'll now it's only a drop of .16 baht per USD, but still what's affecting this and whose playing with exchange rates by purchasing Thb with the USD in the reserves, is it the BOT? Not a secret that central banks in Asia spend billions in their foreign exchange reserves to slow down currency declines. Evident in their sliding reserves including Thailand. 3 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted June 28, 2022 Popular Post Share Posted June 28, 2022 25 minutes ago, Pattaya Spotter said: don't bet against Uncle Sam It's only a question of time. ???? 3 2 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted June 28, 2022 Popular Post Share Posted June 28, 2022 11 minutes ago, ThailandRyan said: There is no reason You mean you don't see any reason. I am sure an expert could tell you at least 100 possible reasons. 4 Link to comment Share on other sites More sharing options...
Popular Post Jingthing Posted June 28, 2022 Popular Post Share Posted June 28, 2022 (edited) Yeah its good but it doesn't exactly equal the ravages of inflation and the crashing stock market. Edited June 28, 2022 by Jingthing 6 Link to comment Share on other sites More sharing options...
ThailandRyan Posted June 28, 2022 Share Posted June 28, 2022 2 minutes ago, OneMoreFarang said: You mean you don't see any reason. I am sure an expert could tell you at least 100 possible reasons. It was a sarcastic point in my post. 2 Link to comment Share on other sites More sharing options...
ThailandRyan Posted June 28, 2022 Share Posted June 28, 2022 (edited) 7 minutes ago, Eric Loh said: Not a secret that central banks in Asia spend billions in their foreign exchange reserves to slow down currency declines. Evident in their sliding reserves including Thailand. My post was full of sarcasm unfortunately. The BOT plays with exchange rates daily, that much I know. Edited June 28, 2022 by ThailandRyan 1 1 Link to comment Share on other sites More sharing options...
Popular Post Gecko123 Posted June 28, 2022 Popular Post Share Posted June 28, 2022 (edited) 46 minutes ago, Pattaya Spotter said: All the members who have been prophesying the demise of the ???????????? for years must be eating bowls of humble somtum right now ???????????? As I always advised them...don't bet against Uncle Sam ???????????? The current relative strength of the USD is ENTIRELY based on the interest rate hikes the Fed is being forced to make in order to reel in inflation. Euro zone countries, Japan, and a number of other smaller countries, including Thailand, have been dragging their feet about raising interest rates out of fear this will undermine their economies which are still struggling to recover from Covid shutdowns. Some countries are also betting that the Fed is going to reverse course as soon as the US economy starts showing signs of slowing down, so they may not have to hike interest rates that aggressively. Hence there is an unusually wide spread in interest rates between the US and other countries, which is why the dollar is strong for the moment. I personally think inflation is going to be a lot more persistent than some believe, and the Fed is going to be forced to keep hiking even into an economic slowdown. If this happens, yes, the dollar will probably continue to rise, but Federal debt financing costs are going to balloon, the housing market is going to tank, and financial markets are likely gonna get skinned alive. While the strong dollar may make overseas vacations and expat living cheaper for Americans at the moment, in the greater scheme of things, in no way should it be viewed as a cause for celebration, as it is only symptomatic of the enormous task facing the Fed as it tries to sort out America's catastrophically weak financial condition. Edited June 28, 2022 by Gecko123 10 2 Link to comment Share on other sites More sharing options...
Popular Post Henryford Posted June 28, 2022 Popular Post Share Posted June 28, 2022 How many trillions does the US have to print before it affects the dollar? 1 2 Link to comment Share on other sites More sharing options...
Pattaya Spotter Posted June 28, 2022 Share Posted June 28, 2022 (edited) 1 hour ago, OneMoreFarang said: It's only a question of time. ???? Markets can stay "irrational" longer than most people [with short bets] can remain solvent ???? Edited June 28, 2022 by Pattaya Spotter 1 Link to comment Share on other sites More sharing options...
Pattaya Spotter Posted June 28, 2022 Share Posted June 28, 2022 54 minutes ago, Gecko123 said: America's catastrophically weak financial condition. Funny people with trillions in wealth actually in play don't agree ???? Link to comment Share on other sites More sharing options...
Popular Post lordblackader Posted June 28, 2022 Popular Post Share Posted June 28, 2022 It may shock the author to learn that you don't have to be an American expat to celebrate the dollar rate. I'm not American and I get paid in USD and fair few people I know who are not Americans get paid in USD as well. 4 1 Link to comment Share on other sites More sharing options...
Popular Post Srikcir Posted June 28, 2022 Popular Post Share Posted June 28, 2022 2 hours ago, Jingthing said: Yeah its good but it doesn't exactly equal the ravages of inflation and the crashing stock market. March 2022 US inflation 8% vs Thailand 5%. If you receive USD and live in Thailand, you're ahead (but avoid foreign food imports). Especially if you receive COLA adjustments to US incomes/pensions/social security. The effect of a US "crashing stock market" is relative to the degree of investment in the market. Low to zero investment will be unaffected by a crash. Note that a typical plunge in the US stock can lead to explosive economic recovery. An attentive and proactive stock market strategy (ie., short/long positions, diversification) might minimize immediate market losses and take advantage of undervalued stocks. 5 Link to comment Share on other sites More sharing options...
vandeventer Posted June 28, 2022 Share Posted June 28, 2022 It's simple math, when the baht goes down in value our prices go up, everywhere. So hold on to your gold and silver as they may be making a push to the high side very soon. Link to comment Share on other sites More sharing options...
Popular Post Skeptic7 Posted June 28, 2022 Popular Post Share Posted June 28, 2022 (edited) Been a "flash crash" today for USD v. THB. The 1-day XE chart shows USD falling off a cliff. Something's cookin' and it stinks. ???? Edited June 28, 2022 by Skeptic7 3 Link to comment Share on other sites More sharing options...
Popular Post KhunLA Posted June 28, 2022 Popular Post Share Posted June 28, 2022 6 minutes ago, Skeptic7 said: Been a "flash crash" today for USD v. THB. The 1-day XE chart shows USD falling off a cliff. Something's cookin' and it stinks. ???? Social Security disbursements coming soon ... coincidence ... ???? 3 1 Link to comment Share on other sites More sharing options...
Popular Post Berkshire Posted June 28, 2022 Popular Post Share Posted June 28, 2022 4 hours ago, ThailandRyan said: Why have we dropped .27 baht per USD since Friday. There is no reason unless some type of manipulation is at hand. We'll now it's only a drop of .16 baht per USD, but still what's affecting this and whose playing with exchange rates by purchasing Thb with the USD in the reserves, is it the BOT? The USD has been doing extremely well against the THB. Yet, you're still complaining about "manipulation?" Geez man, you certainly fit the profile of the whining farang. 1 1 1 4 Link to comment Share on other sites More sharing options...
Popular Post daveAustin Posted June 28, 2022 Popular Post Share Posted June 28, 2022 4 hours ago, webfact said: However, your expat neighbors from Britain may be crying into their warm beer Gawd, give it a rest with the unfounded clichés! Was this tat penned by a 12 year old? 2 3 Link to comment Share on other sites More sharing options...
Isaan sailor Posted June 28, 2022 Share Posted June 28, 2022 Baht slammed the USD today. It only rubs salt on the wound. And 35 may work if you buy with a no fee credit card. But if you buy Baht, you’re facing down 34’s again. 1 Link to comment Share on other sites More sharing options...
Popular Post JeffersLos Posted June 28, 2022 Popular Post Share Posted June 28, 2022 The whooping only lasts until they drive into a PTT. 6 Link to comment Share on other sites More sharing options...
Popular Post Elkski Posted June 28, 2022 Popular Post Share Posted June 28, 2022 Airfare to get to Thailand negates any benefit for a 2 week tourist plus I was getting 35.6 in 2016-17 on my first trips. 3 Link to comment Share on other sites More sharing options...
Popular Post zzaa09 Posted June 28, 2022 Popular Post Share Posted June 28, 2022 5 hours ago, Pattaya Spotter said: All the members who have been prophesying the demise of the ???????????? for years must be eating bowls of humble somtum right now ???????????? As I always advised them...don't bet against Uncle Sam ???????????? Should be noted that this dramatic change in currency rates is deriving from the Thai side, which is clearly being fiercely manipulated - a survival technique that has to be pursued. Little [if any] to do with the deluded and speculative ideals of a healthy American economy. If truer reflections of a slowly tanking American economy and lesser valued U.S. dollar [worldwide] were to be realized, it might be a different storyline. 5 Link to comment Share on other sites More sharing options...
Isaan sailor Posted June 28, 2022 Share Posted June 28, 2022 Baht rises 2% in two days—breathtaking. It certainly makes you wonder… 1 Link to comment Share on other sites More sharing options...
khwaibah Posted June 28, 2022 Share Posted June 28, 2022 Monday, 10/02/2003 70.185374 1 Link to comment Share on other sites More sharing options...
gamb00ler Posted June 28, 2022 Share Posted June 28, 2022 (edited) 6 hours ago, ThailandRyan said: Why have we dropped .27 baht per USD since Friday. There is no reason unless some type of manipulation is at hand. We'll now it's only a drop of .16 baht per USD, but still what's affecting this and whose playing with exchange rates by purchasing Thb with the USD in the reserves, is it the BOT? I suggest you look at the USD vs DXY. Hopefully it will become clear to you that it's not manipulation of USD vs THB..... it's the overall strength of the USD vs everybody else. Like every other traded commodity there are fluctuations that are due mostly to the "mood" of those trading in it. Edited June 28, 2022 by gamb00ler 1 1 Link to comment Share on other sites More sharing options...
Pattaya Spotter Posted June 28, 2022 Share Posted June 28, 2022 1 hour ago, zzaa09 said: Should be noted that this dramatic change in currency rates is deriving from the Thai side, which is clearly being fiercely manipulated - a survival technique that has to be pursued. Little [if any] to do with the deluded and speculative ideals of a healthy American economy. If truer reflections of a slowly tanking American economy and lesser valued U.S. dollar [worldwide] were to be realized, it might be a different storyline. Sorry your foreign currency hedge flipped on you...I'd be down on the dollar too if I bet against America. 1 Link to comment Share on other sites More sharing options...
Popular Post flexomike Posted June 28, 2022 Popular Post Share Posted June 28, 2022 3 hours ago, KhunLA said: Social Security disbursements coming soon ... coincidence ... ???? happens almost every month 3 1 Link to comment Share on other sites More sharing options...
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