Baht’s current slide is a grim reminder of its crash 25 years ago

[The Theory]

I guess lucky time coming for those who are going to transfer for their 1st 800,000 extension. I was lucky about 6 years ago. 
I guess it will keep going lower as long as the US interest rate rising (0.1 % at the time) every month or 2. Till reach about 2%. It is 1% at this moment. 

[aussiexpat]

5 minutes ago, The Theory said:

I guess lucky time coming for those who are going to transfer for their 1st 800,000 extension. I was lucky about 6 years ago. 
I guess it will keep going lower as long as the US interest rate rising (0.1 % at the time) every month or 2. Till reach about 2%. It is 1% at this moment. 

Australia was at 0.1% only 3 months ago, now 1.35% (raised 0.25%, 0.5%, 0.5% last 3 months)

 

Finally I get some decent interest on my savings after 3 year of not!

 

Edited July 6, 2022 by aussiexpat

[nauseus]

1 hour ago, San Fran Dan said:

USA will out surpass China this year in GDP 

How about growth?

[nauseus]

1 hour ago, PB172111 said:

The AUD is essentially a commodity currency. It is not grossly affected by the USD.

Same as 2008 when the states screwed the world market, Australia wasn’t greatly affected.

do your homework before you post my friend!

That's because they were selling so much to China then.

[Silencer]

Wondering if the expected Fed rate increase later this month (maybe .75 basis points again) is already cooked into the Dollar-Baht exchange rate OR if we can expect a further weakening in late July and beyond?  I'm holding $100k I need to transfer to Thailand sometime in the next 6 months and though I don't need to time the peak, would prefer not to fire too early. My crystal ball is foggy.

[nauseus]

3 minutes ago, Silencer said:

Wondering if the expected Fed rate increase later this month (maybe .75 basis points again) is already cooked into the Dollar-Baht exchange rate OR if we can expect a further weakening in late July and beyond?  I'm holding $100k I need to transfer to Thailand sometime in the next 6 months and though I don't need to time the peak, would prefer not to fire too early. My crystal ball is foggy.

Best to wait at least until 28th and see what happens then.

 

[Sparktrader]

22 minutes ago, aussiexpat said:

Australia was at 0.1% only 3 months ago, now 1.35% (raised 0.25%, 0.5%, 0.5% last 3 months)

 

Finally I get some decent interest on my savings after 3 year of not!

 

Bank shares yield 6%

 

[howlee101]

2 hours ago, earlinclaifornia said:

Yesterday my Thai GF said she heard on the news the bath is heading for a one to one baht to dollar. !!!

I wouldn't mind that.  I would empty my thai bank accounts, sell everything I own in Thailand, take the baht and exchange to dollars.  I'd be a USD multimillionaire ????

[aussiexpat]

So if the baht is critically sliding, what does that mean for the pound which dropped 3.4% against the Baht in last year?

[thailand49]

What goes around comes around?

I live on 30-1, comfortably anything over thatwhen I transferred is saved old school call it what people want but there is always a rainy day. ????

[hotchilli]

19 hours ago, webfact said:

The many swings of the baht

More swings than a playground.

[zzaa09]

Remembering in the good old days of '97/'98 when it was reaching around B47.

Never any true domestic economic turndown, just as there won't be if it reaches B37/B38 in a couple months. 

 

Even better for Farang that are dependent on make believe foreign currency exchanges.

[LomSak27]

Quote

Baht’s current slide is a grim reminder of its crash 25 years ago

A grim reminder of that July, 25 years ago?! I think not. Thailand today does not have  a class of people able to get loans and not pay them back with little penalty. Some have called that theft, BTW. A harsh word later sanitized by the term; 'Non Performing Loans'. Best not to remember that key ingredient.  

[Rhys]

I  M  F...

 

[jacko45k]

13 hours ago, Burma Bill said:

Appears to be so. I was getting 1.34 US$ for 1 GBP. Currently it is 1.19 US$ for 1 GBP. My 3 recent UK monthly pensions are down in total by 61 US$ (51 GBP) just on the exchange rate!!

Sterling could be a bit higher, maybe 47 Baht, but for the pathetic mess of the politics. 

[sammieuk1]

Still a miserable 43.16 for the pound as Boris killed it 6 years ago and continues to stab it over and over ????

[Skeptic7]

Grim my ass!!! Blissful reminder to me! Especially suffering the past decade and a half of ultra-strong, bulletproof baht. Cha-ching! ????

[Skeptic7]

12 hours ago, Silencer said:

Wondering if the expected Fed rate increase later this month (maybe .75 basis points again) is already cooked into the Dollar-Baht exchange rate OR if we can expect a further weakening in late July and beyond?  I'm holding $100k I need to transfer to Thailand sometime in the next 6 months and though I don't need to time the peak, would prefer not to fire too early. My crystal ball is foggy.

Crystal balls are always foggy. Why not average it out over the next 5-6 months starting now? B36+ is a level most of us thought we may never see again.

[KhunLA]

Not sure what is grim about it, for expats anyway.

 

Only grim if you are Thai, and importing, then all a bit more expensive.  Live local, work & buy local, then nothing changes.

[KhunLA]

2 minutes ago, Skeptic7 said:

Crystal balls are always foggy. Why not average it out over the next 5-6 months starting now? B36+ is a level most of us thought we may never see again.

Since the powers to be, seem to like & keep it between 30-35, last 15 yrs anyway, I can't see it going much further, unless they truly have lost control.

 

Good for us (non Thais), bad for Thai importer.  

[ThailandRyan]

Just now, KhunLA said:

Since the powers to be, seem to like & keep it between 30-35, last 15 yrs anyway, I can't see it going much further, unless they truly have lost control.

 

Good for us (non Thais), bad for Thai importer.  

Ergo why they now want dual pricing in hotels to have the excess exchanged money left here...

[Chongalulu]

Poor article in terms of economic literacy. When making such statements one should compare against a standard basket of currencies,not just the dollar against which the likes of the Euro and £ are equally weak. "Dollar strengthens " is the correct headline. ???? 

[KhunLA]

14 minutes ago, ThailandRyan said:

Ergo why they now want dual pricing in hotels to have the excess exchanged money left here...

Good .. hope they keep self destructing.  Less GDP, they be spending more of that reserve, and win win for us.  No sympathies.

 

Sh!t will hit the fan, when they implement that 10% VAT.  Then the populous might wake up & take notice.

[KhunLA]

Here's 5 yr chart, against some of their trading partners.

Not sure 'grim' is the best term, good headliner.  Down

on a few, holding on a few, up on a few.

Their recovery, not good, spending, not good, future, 

also not so good if no major change.

 

[Berkshire]

51 minutes ago, nchuckle said:

Poor article in terms of economic literacy. When making such statements one should compare against a standard basket of currencies,not just the dollar against which the likes of the Euro and £ are equally weak. "Dollar strengthens " is the correct headline. ???? 

Correct.  I've always felt that the currency exchange rate (related to the THB) is more to do with what's going on back home in the home country.  Along those same lines, I wonder how those expats who are always crying "manipulation" think now.  Are they going to say that Thailand only manipulates the THB in favor of the USD?  555555555

[Lord Lucan]

Don’t notice any evidence of a slide here!

preferred when it was 60 plus to the £. 

[Adumbration]

On 7/6/2022 at 2:56 PM, talahtnut said:

The $ is experiencing a dead cat bounce, its value

continues to fall quicker than a tarts drawers along

with a heap of other currencies.

Stock up on Russian Rubles

 

 

I bought a <deleted> tin of Rubles when the war broke out.  I posted a thread here about it.  I was laughed at and ridiculed the imbeciles who post on this forum.

[JeezeLooeze]

On 7/6/2022 at 9:16 AM, Henryford said:

Is the baht sliding or the dollar rising? It seems fine against most other currencies.

All world fiat currencies are 'falling' against the USD (except the Russian Ruble). Or you could say the USD is 'strengthening' against all other currencies. Why? Because of the international demand for USD (despite all that printing) to pay off USD denominated debt and interest. A better measure, over the long term, is to compare the gold price against all other currencies. You might be surprised at what you find.

Edited July 17, 2022 by JeezeLooeze