Popular Post webfact Posted July 8, 2022 Popular Post Share Posted July 8, 2022 By Panithan Onthaworn The Bank of Thailand (BoT) said on Friday that it would allow the baht to fluctuate in line with market factors. However, action is required if the currency witnesses extreme volatility, it said. This week the baht has weakened to its lowest level in almost seven years, approaching 36.32 baht against the US dollar. BoT senior director Daranee Saeju said in a briefing that the baht has weakened modestly in comparison to regional currencies, and this has been driven by the rise of the US dollar. Full story: https://www.thaienquirer.com/41593/bank-of-thailand-to-let-baht-swing-with-market-factors/ -- © Copyright Thai Enquirer 2022-07-09 - 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. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! 1 2 Link to comment Share on other sites More sharing options...
Popular Post ukrules Posted July 8, 2022 Popular Post Share Posted July 8, 2022 48 minutes ago, webfact said: The Bank of Thailand (BoT) said on Friday that it would allow the baht to fluctuate in line with market factors. Didn't they do this before? Around 1996 or something like that ???? 4 3 Link to comment Share on other sites More sharing options...
Popular Post KhunLA Posted July 8, 2022 Popular Post Share Posted July 8, 2022 This should be very interesting. See how far they let it go ... ???? 4 Link to comment Share on other sites More sharing options...
Isaan sailor Posted July 8, 2022 Share Posted July 8, 2022 Yeah, they let the Baht swing alright. It swung all the way down to 35.87 on USD last night. 36 was so yesterday.. 1 Link to comment Share on other sites More sharing options...
KhunLA Posted July 8, 2022 Share Posted July 8, 2022 (edited) I'm not ready to panic yet ... down ฿0.19 over 24 hr period ???? Edited July 8, 2022 by KhunLA 1 Link to comment Share on other sites More sharing options...
sammieuk1 Posted July 8, 2022 Share Posted July 8, 2022 Looks like they define swing at 0.01 looking at the pound ???? 1 Link to comment Share on other sites More sharing options...
Popular Post KhunLA Posted July 8, 2022 Popular Post Share Posted July 8, 2022 1 4 Link to comment Share on other sites More sharing options...
Popular Post khwaibah Posted July 8, 2022 Popular Post Share Posted July 8, 2022 Bank of Thailand are Cooking the Books along with SET. 5 1 1 Link to comment Share on other sites More sharing options...
Popular Post talahtnut Posted July 8, 2022 Popular Post Share Posted July 8, 2022 The BoT control the Thai Bath with one of these decision makers I have one attached to my bike. 2 4 Link to comment Share on other sites More sharing options...
Popular Post thailand49 Posted July 9, 2022 Popular Post Share Posted July 9, 2022 Yes, swing with the market but next line will take action???? If it doesn't swing their way? Now that they have stepped in on the subject watch it start to get stronger. It was headed to 37 now at 35. Thai, the art of war, give the illusion let it swing then mulipulated a bit in your favor. 2 1 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted July 9, 2022 Popular Post Share Posted July 9, 2022 Can but hope they are using up all their reserves and the baht will crash in the coming months/year 10 2 Link to comment Share on other sites More sharing options...
Popular Post smedly Posted July 9, 2022 Popular Post Share Posted July 9, 2022 6 hours ago, webfact said: The Bank of Thailand (BoT) said on Friday that it would allow the baht to fluctuate in line with market factors my interpretation of that is that they were manipulating the value before this, something I have been saying for a couple of years so what are they hoping for - that it will be tracking the US $ the best thing the baht could do is drop in value - Thailand relies heavily on exports and tourism both would be boosted with a lower BAHT 6 2 Link to comment Share on other sites More sharing options...
Popular Post smedly Posted July 9, 2022 Popular Post Share Posted July 9, 2022 1 hour ago, thailand49 said: Yes, swing with the market but next line will take action???? If it doesn't swing their way? Now that they have stepped in on the subject watch it start to get stronger. It was headed to 37 now at 35. Thai, the art of war, give the illusion let it swing then mulipulated a bit in your favor. determining the value of a currency cannot be done with just one comparison - it has to be a collection of currencies (basket), in the grand scheme of things the BAHT has remained neutral when compared to $ sterling and EUR - the $ has gained recently against them all 4 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted July 9, 2022 Popular Post Share Posted July 9, 2022 6 hours ago, webfact said: The Bank of Thailand (BoT) said on Friday that it would allow the baht to fluctuate in line with market factors. However, action is required if the currency witnesses extreme volatility, it said. Instead of the usual manipulation? 4 Link to comment Share on other sites More sharing options...
shackleton Posted July 9, 2022 Share Posted July 9, 2022 Good if you have USA $ ???? Not so good on Global British pounds ???? 2 3 Link to comment Share on other sites More sharing options...
Isaan sailor Posted July 9, 2022 Share Posted July 9, 2022 Baht has swung up—we get that. Now, oh clairvoyant BoT, can you please let it swing down? 1 Link to comment Share on other sites More sharing options...
Cake Monster Posted July 9, 2022 Share Posted July 9, 2022 (edited) 6 hours ago, ukrules said: Didn't they do this before? Around 1996 or something like that ???? Yes they did. And also in 1996 there was way too much borrowing against poorly priced assets Just saying Edited July 9, 2022 by Cake Monster 1 Link to comment Share on other sites More sharing options...
Popular Post placnx Posted July 9, 2022 Popular Post Share Posted July 9, 2022 6 hours ago, ukrules said: Didn't they do this before? Around 1996 or something like that ???? You are talking about the Tom Yam Gung crisis in 1997. Then the Bank wasted its reserves trying to hold up the Baht, until it couldn't any longer. Back then the Baht got to 55 per USD. Lesson learned, it seems. 4 1 Link to comment Share on other sites More sharing options...
thailand49 Posted July 9, 2022 Share Posted July 9, 2022 3 hours ago, smedly said: determining the value of a currency cannot be done with just one comparison - it has to be a collection of currencies (basket), in the grand scheme of things the BAHT has remained neutral when compared to $ sterling and EUR - the $ has gained recently against them all You know more than me, what I do know is unscientific on going small bet with some regular expats living here. Everytime I read in the Bangkok or internet complaint or suggestions from government leaders, banks etc regarding the strength or weakness. I put my bet that now it will swing a bit the other way regardless 9-10 that is the case. When it was brought up a few days before here it was 36.40, just happen I ship Wise money over and today it is what. ???? Link to comment Share on other sites More sharing options...
earlinclaifornia Posted July 9, 2022 Share Posted July 9, 2022 Only the Bank's exchange rate matters. Weekend flux is nothing new Link to comment Share on other sites More sharing options...
zzaa09 Posted July 9, 2022 Share Posted July 9, 2022 8 hours ago, RichardColeman said: Can but hope they are using up all their reserves and the baht will crash in the coming months/year Might be chancy or it might be beneficial. The theoretical ideals behind floating a currency exchange rate is determined by the manipulated health and fluctuation of the global economy.......which is largely based on fantasy and false value - especially as such applies to particular economies/cultures. Why not make up one's own rate......as most have been doing anyway for generations. The whole process is quite silly and delusion filled. There isn't any real wealth anywhere and largely based on nothing. A noted factor that is looming for real and is considered - an increasing trend among much of the influential trading/economic block to remove itself from relying on the U.S. dollar as an inclusive measuring stick. This reality is upon us currently and will forever change the manner in which we view wealth and value.......most certainly the silly illusion of comparative currency exchange rating. Link to comment Share on other sites More sharing options...
Xonax Posted July 10, 2022 Share Posted July 10, 2022 About time that BOT realizes, that they cannot dictate the US Dollar to follow the Thai Baht. 2 Link to comment Share on other sites More sharing options...
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