Popular Post webfact Posted July 19, 2022 Popular Post Share Posted July 19, 2022 By Thai PBS World’s Business Desk The plunging value of the baht appears ominous and raises worrying questions about its impact on the Thai economy. On Friday (July 15), the baht fell to 36.73 to the US dollar, its lowest in 15 years and eight months, according to Kasikorn Research Center. Between July 11-15, foreign investors sold Thai shares worth 1.1 billion baht. Net buys have totalled 122 billion baht since early this year. They also sold Thai bonds resulting in net capital outflows of 2.1 billion baht from the Thai bond market since early this year. Combined with the fast-rising inflation in Thailand and in many countries, a large number of consumers may feel the squeeze. The weakening value of the baht has inflicted losses on some people while some have gained, said a senior director at the Bank of Thailand (BOT). The manufacturing sector is complaining about rising production costs, as raw material and energy prices soar. “We don’t hear complaints from other groups,” Daranee Saeju, senior director at BOT’s financial markets department, said without mentioning export groups. Full story: https://www.thaipbsworld.com/what-the-weakening-baht-means-for-thailands-economy/ -- © Copyright Thai PBS 2022-07-19 - 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! 3 Link to comment Share on other sites More sharing options...
Popular Post Henryford Posted July 19, 2022 Popular Post Share Posted July 19, 2022 The baht isn't weakening. The dollar is getting stronger, against all currencies. 11 2 Link to comment Share on other sites More sharing options...
Popular Post pokerface1 Posted July 19, 2022 Popular Post Share Posted July 19, 2022 4 minutes ago, Henryford said: The baht isn't weakening. The dollar is getting stronger, against all currencies. That’s closer to the truth it’s certainly stronger to the AUD. 3 Link to comment Share on other sites More sharing options...
Popular Post JAFO Posted July 19, 2022 Popular Post Share Posted July 19, 2022 Agree, The USD is the better performing currency at the moment. I will say that I am sure enjoying the USD to baht conversion. ????. 5 Link to comment Share on other sites More sharing options...
Popular Post 2baht Posted July 19, 2022 Popular Post Share Posted July 19, 2022 What the weakening baht means for Thailand’s economy Joy for expats and tourists! 5 1 Link to comment Share on other sites More sharing options...
khunPer Posted July 19, 2022 Share Posted July 19, 2022 Euro is weak compared to the dollar, so baht is not weakening at all...???? 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted July 19, 2022 Share Posted July 19, 2022 5 hours ago, webfact said: The plunging value of the baht appears ominous and raises worrying questions about its impact on the Thai economy. My lilly white bottom it is. £ was 44.01 yesterday , currently it's 43.8 ish. My books the £/baht is about 0.5% difference than previously - hardly an ominous fall Link to comment Share on other sites More sharing options...
Stocky Posted July 19, 2022 Share Posted July 19, 2022 Well the Singapore Dollar is doing fine, I got Bht26.18 yesterday, beginning of the year I was only getting Bht24.25. Link to comment Share on other sites More sharing options...
micmichd Posted July 19, 2022 Share Posted July 19, 2022 1 hour ago, RichardColeman said: My lilly white bottom it is. £ was 44.01 yesterday , currently it's 43.8 ish. My books the £/baht is about 0.5% difference than previously - hardly an ominous fall And compared to 10 years ago? Link to comment Share on other sites More sharing options...
connda Posted July 19, 2022 Share Posted July 19, 2022 (edited) What the weakening baht means for Thailand’s economy Happy foreigners. If TAT had a ounce of brains they would leverage the pro-foreign currency exchange rates as a selling point. Then? Drop all of the other silly Covid measures including mandatory testing, vaccinations, insurance, and such. Leave the new tourism tax on place in order to cover one-off hospitalizations of Covid (or anything else). It's a good idea. It's significantly less expense for tourists with covering hospitalizing risk. As far as I'm concerned, the mandatory insurance is a moneymaker for Friends Of the Thai Government. Just levy the minimal tax on all tourist and it will offset any hospitalization expenses by tourists - without ripping tourists off for the benefit of the Thai insurance industry. These people are on the verge of a serious rebound in tourism if they don't "F" it up. Legalized cannabis. Liberalize alcohol lows for tourists. Ditch the involuntary masks. Get real and allow tourists to assume the risk they wish to assume. But - Personally I'd levy a hospitalization tax between 500 to 1000 THB per person. It's peanuts but will cover most tourists for uneventful accidents and contracting the flu. Thailand totally screwed up by throwing tourist into the Covid Prisons. That was stupid, but their friends in Private Hospitals loved it. Cha-Ching! Edited July 19, 2022 by connda Link to comment Share on other sites More sharing options...
Stocky Posted July 19, 2022 Share Posted July 19, 2022 1 hour ago, RichardColeman said: My lilly white bottom it is. £ was 44.01 yesterday , currently it's 43.8 ish. My books the £/baht is about 0.5% difference than previously - hardly an ominous fall That's because the UK economy is in an even bigger hole than Thailand - expect more pain for the GBPeso. Link to comment Share on other sites More sharing options...
Cake Monster Posted July 19, 2022 Share Posted July 19, 2022 7 hours ago, webfact said: The manufacturing sector is complaining about rising production costs, as raw material and energy prices soar. And with the cost of a Unit of Electricity set to rise to 5 Baht / Unit in September from the present price of 4.6 Baht / Unit, inflation will rocket even further as costs at the Factory Gates will rise. This will make all products more expensive, and raise the price of Exports Stagflation is well and truly here 1 Link to comment Share on other sites More sharing options...
Bangkok Barry Posted July 19, 2022 Share Posted July 19, 2022 41 minutes ago, Cake Monster said: And with the cost of a Unit of Electricity set to rise to 5 Baht / Unit in September from the present price of 4.6 Baht / Unit, inflation will rocket even further as costs at the Factory Gates will rise. This will make all products more expensive, and raise the price of Exports Stagflation is well and truly here I'm not sure that factories are on the same tariff. In fact, I doubt very much that they are. And I also don't know if their rate is also being increased. No doubt someone who does know will chip in soon.... Link to comment Share on other sites More sharing options...
RichardColeman Posted July 19, 2022 Share Posted July 19, 2022 3 hours ago, micmichd said: And compared to 10 years ago? I think if you are coming to thailand and worrying about the baht 10 years ago, you may have a few issues 1 Link to comment Share on other sites More sharing options...
peterfranks Posted July 19, 2022 Share Posted July 19, 2022 4 hours ago, RichardColeman said: My lilly white bottom it is. £ was 44.01 yesterday , currently it's 43.8 ish. My books the £/baht is about 0.5% difference than previously - hardly an ominous fall Did you notice the article talks about the value against the US$, and doesn't mention that mickey mouse money they use in the UK? Link to comment Share on other sites More sharing options...
Chivas Posted July 19, 2022 Share Posted July 19, 2022 51 minutes ago, peterfranks said: Did you notice the article talks about the value against the US$, and doesn't mention that mickey mouse money they use in the UK? Whilst I wouldn't call my own countries money entirely mickey mouse you make the valid point that the article relates to the Baht against its only Benchmark..... the USD period Flutuations that others may claim are quite simply their own countries currency weakness against the USD on the opposite side of the pairings Only the USD has a direct exchange rate against every worldwide currency....for the rest of us its a two pairings number crunch to get the bottom line something at least half of this forum simply cannot grasp lol 1 Link to comment Share on other sites More sharing options...
Dustdevil Posted July 19, 2022 Share Posted July 19, 2022 You've shown class by not getting defensive and upset and instead analyzing. Link to comment Share on other sites More sharing options...
Sticky Rice Balls Posted July 19, 2022 Share Posted July 19, 2022 12 hours ago, 2baht said: What the weakening baht means for Thailand’s economy Joy for expats and tourists! and freelancers! joop joop! Link to comment Share on other sites More sharing options...
Sticky Rice Balls Posted July 19, 2022 Share Posted July 19, 2022 5 hours ago, RichardColeman said: you may have a few issues i dont have issues...i have subscriptions! Link to comment Share on other sites More sharing options...
micmichd Posted July 20, 2022 Share Posted July 20, 2022 12 hours ago, RichardColeman said: I think if you are coming to thailand and worrying about the baht 10 years ago, you may have a few issues If you are not able to compare conversion rate history, you don't know what you're talking about. Link to comment Share on other sites More sharing options...
Cake Monster Posted July 20, 2022 Share Posted July 20, 2022 23 hours ago, Bangkok Barry said: I'm not sure that factories are on the same tariff. In fact, I doubt very much that they are. And I also don't know if their rate is also being increased. No doubt someone who does know will chip in soon.... I am not sure which rates they will be paying for their Electricity either. But for sure the rate thy are paying will also increase. And dont forget, this increase will apply to all Commercial premises, including Hotels Etc Etc Link to comment Share on other sites More sharing options...
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