The Nation cartoon today :

Easy to have money when your people aren't being fed.

There's a lot that can be said about Toxin and much of it is obviously not good. Was it truly a good choice to remove him? I won't be the one to make that judgement. But I will say that his departure has certainly hit us all in the pocketbook. That is, if your money is coming from outside Thailand. There isn't a single major currency I can find (other than the Swedish Krona) that hasn't taken a severe nosedive from the first of this year until about the 2nd week of March.

From around the beginning of Sept. '05 until bottoming out the 2nd week of March these currencies have fell drastically. Some currencies have recovered, but only marginally. The USD has remained steady between ฿33 and ฿32 for near on the past four months. Numbers are not completely accurate but close enough to get the idea across.

AUD . . . -20%

CAD . . . -22%

CNY . . . -20%

EUR . . . -17%

GBP . . . -17%

JPY . . . -31%

MYR . . . -17%

NZD . . . -29%

SGD . . . -20%

TWD . . . -27%

USD . . . -24%

Was the ouster good? Can it be said that Toxin was good for the Thai economy?

I'm not a financial guy and so can't explain what's going on - the why's - but I certainly don't understand what the current Thai government is doing. I can't see the drastic decline in foreign currencies as helping Thailand's economy. I can only hope it's short term. In any case, I do believe the exchange rates have bottomed out and won't fall any more.

There's a lot that can be said about Toxin and much of it is obviously not good. Was it truly a good choice to remove him? I won't be the one to make that judgement. But I will say that his departure has certainly hit us all in the pocketbook. That is, if your money is coming from outside Thailand. There isn't a single major currency I can find (other than the Swedish Krona) that hasn't taken a severe nosedive from the first of this year until about the 2nd week of March.

the company for which I work exports all our product and the US$ is the currency we use. As you have indicated in your post, our margin has dropped by 24% but we also buy our metal and hardware from other countries such as China, Germany, and Philippines so our costs have continued to increase by normal cycles and inflation but our settlement costs have dramatically reduced.

I am not convinced that the current situation has anything to do with Thaksin's departure but I think he was much more financially aware and had better advisers on how to at least hang onto the financial slide. The current batch of career military have no ideas and every time they messed about with the exchange it made things worse.

In any case, I do believe the exchange rates have bottomed out and won't fall any more.

I am not sure on what you are basing that statement but if the exchange rate continues to slide, there will be a lot of export companies including ourself go hard to the wall. I have not seen anything from this government that gives me any confidence that they have stopped the slide let alone reversed it effects.

CB

The CAD slipped for a while but it's back at 30-31 and slowly creeping up again. Should hit 33 this year if the THB stays steady.

The CAD slipped for a while but it's back at 30-31 and slowly creeping up again. Should hit 33 this year if the THB stays steady.

The Aussie $ otherwise known as the Pacific peso has settled at about 29.3 which is ok. The rate has a direct affect on Thailand because so many Aussies come here on holiday (depends on whether you think that is a good or bad thingB)) The amount of money they spend here is higher than the average tourist - source Australian Tourist Bureau and there was a big decline in their numbers for the last two years as the Oz$ went all weird.

From my point of view it made my savings and transfers to Thailand much less attractive. Fortunately I work here so get some income in Thai Baht but for a lot of expats it has dramatically affected their ability to live here. Losing 20-30% of a pension value is a big change in their lifestyle. I personally know of a bunch of guys who have moved to Cambodia or Philippines where they can live using US dollars as local currency and maintain its value.

CB

For short trips a high Canadian dollar has little advantages for me because it's usually high oil prices feeding the dollar which gets eaten up by higher airfares. The longer we stay, the more the high dollar works in our favour.

I get paid mostly in USD by overseas customers.

The nest egg has not been growing.

just from observation....non-expert...I get the feeling it is not simply the affect of a strong baht..but seems the USD is weaker too?

the reason I say this is...when i look at the exchange between BHT-AUD, and BHT -USD, it seems the Baht has appreciated much more against the USD than against the AUD in the last year or so.

perhaps the aussie economy is doing relatively well afterall CB? any thoughts?

PS. sowwy to say this...but I wish the aussie $ would go down a bit Im due a visit soon

I'll never forget the dumbfounded look on the face of the American in New Zealand who exclaimed "You have your own currency?????" as I tried to explain the C$ US$ exchange rates and why they fluctuated.

How did a post about Thaksin & Kim turn into a currency debate?

I predict that no matter how many wonkle's Kim has managed to horde he will not be able to buy a baseball team.

Soundman.

just from observation....non-expert...I get the feeling it is not simply the affect of a strong baht..but seems the USD is weaker too?

the reason I say this is...when i look at the exchange between BHT-AUD, and BHT -USD, it seems the Baht has appreciated much more against the USD than against the AUD in the last year or so.

perhaps the aussie economy is doing relatively well afterall CB? any thoughts?

The Australian economy has been doing very well for over a decade now but despite that we still can't afford a full invasion of another country so we have to do it in support of the UK and USA only. Part of the problem in Australian politics is that the fiscal management has been very good (no one can seriously deny that) but the social issues have been let go. The US$ has depreciated against the Oz$ but that is having an adverse affect on our exports (iron ore, sheep, wool, cotton etc) where the settlement currency is US$. Imports are cheaper but as a net exporter it is affecting the balance of payments

PS. sowwy to say this...but I wish the aussie $ would go down a bit Im due a visit soon

I had to read that very carefully a couple of times but alas it was totally above board. The Pound is losing ground against a number of currencies in the cross trades, including the Oz Dollar. When are you looking to go there?

CB

I'll never forget the dumbfounded look on the face of the American in New Zealand who exclaimed "You have your own currency?????" as I tried to explain the C$ US$ exchange rates and why they fluctuated.

Makes you wonder what some people think sometimes. I heard the same thing in a bank in Australia - the American had no idea that Australia had its own currency. He cashed some traveller's cheques, when he was handed a handfull of notes he wanted to know who the woman wearing a crown was on each note. Until that stage I thought it was just another case of Australian education superiority until the girl at the bank said "but don't you have a picture of the queen on your bank notes?" Sigh

CB

Amazing how this cartoon can bring the volatility of currencies in debate.

When are you looking to go there?

CB

most likely first half of October.....Im waiting for a crash week...where the aussie dollar nosedive for even if just a week.....that way it hopefully wont affect anyone's pension payment for the month...yet I can buy my aussie pocket money cheaper

When are you looking to go there?

CB

most likely first half of October.....Im waiting for a crash week...where the aussie dollar nosedive for even if just a week.....that way it hopefully wont affect anyone's pension payment for the month...yet I can buy my aussie pocket money cheaper

So you are coming up to the CM Thai Visa party on 19 August and then of to Oz in October - right little social butterfly aren't you?

CB

Numbers are not completely accurate but close enough to get the idea across.

AUD . . . -20%

CAD . . . -22%

CNY . . . -20%

EUR . . . -17%

GBP . . . -17%

JPY . . . -31%

MYR . . . -17%

NZD . . . -29%

SGD . . . -20%

TWD . . . -27%

USD . . . -24%

Twaddle. Where did you get those figures, particularly for the Aussie and the Kiwi. At it's strongest, the Aussie was never more than 32 baht for a dollar. It's now around 29.2. That's a shift of 8 or 9%. And the Kiwi is one of the strongest currencies in the world at the moment. A year or so ago a Kiwi bought about 27/28 baht. It's now buying 26. Some slump.

In a vain effort to get this back on topic (and speaking as someone who's slender income is in Euro's and who is fed up to the ######ing back teeth with reading about the rising value of the baht) is there any substance in the rumour that Ali Khamenei is considering buying a controlling interest in a Ukrainian women's synchronised swimming team if they agree to wear burkhas whilst performing (all this to distract attention from his country's nuclear program)?

And the Kiwi is one of the strongest currencies in the world at the moment.

Balls Bendix. What has the Kiwi $ got propping it up. Sheep? footrot Flats? Helen Hunter? Mt Cook? Strong economic figures? Once were warriors?

None of the above. Kiwi $ is totally linked & dependant on the pacific peso (as another poster so kindly put it). Isn't there more kiwi's on benefits in Aussie than in Wellington & Christchurch combined?

No Ausie $ for kiwi = banana republic.

Soundman.

Oooh.... That's gonna get ugly!!

My 2 pence (sterling): it's all about as consistent as my sense of humour is funny: Fluctuates, and fairly rapidly. Patience people. A few less laughs than usual might tighten the belt, but ride it out and ultimately, MaiPen Lai!!!

I am not convinced that the current situation has anything to do with Thaksin's departure but I think he was much more financially aware and had better advisers on how to at least hang onto the financial slide. The current batch of career military have no ideas and every time they messed about with the exchange it made things worse.

True, had Toxin remained would it have made a difference? We'll never know but somehow I think so.

I am not sure on what you are basing that statement but if the exchange rate continues to slide, there will be a lot of export companies including ourself go hard to the wall. I have not seen anything from this government that gives me any confidence that they have stopped the slide let alone reversed it effects.

CB

As I said, I'm not a financial guy but I think it's obvious that if the baht were to strengthen considerably more and remain so there would be an exodus of foreign business interests from Thailand. Tourism would suffer, along with a lot of expats, too. No matter how ignorant the military regime is about finances sooner or later the money people will exert their influence. Just a gut feeling based on common sense, is all. Of course, I could be wrong.

O.K., I'm talking out my arse!!

How did a post about Thaksin & Kim turn into a currency debate?

Soundman.

OMG, is this a first???? A thread in Bedlam that has gone off topic???

Khortot, khortot, khortot. Guilty as charged.

Numbers are not completely accurate but close enough to get the idea across.

AUD . . . -20%

CAD . . . -22%

CNY . . . -20%

EUR . . . -17%

GBP . . . -17%

JPY . . . -31%

MYR . . . -17%

NZD . . . -29%

SGD . . . -20%

TWD . . . -27%

USD . . . -24%

Twaddle. Where did you get those figures, particularly for the Aussie and the Kiwi. At it's strongest, the Aussie was never more than 32 baht for a dollar. It's now around 29.2. That's a shift of 8 or 9%. And the Kiwi is one of the strongest currencies in the world at the moment. A year or so ago a Kiwi bought about 27/28 baht. It's now buying 26. Some slump.

Bendix!!!!!!! Give me a break!!!!! Remember, the time frame for the above numbers is from approx. Sept. '05 up to approx. the 2nd week of March '07.

31.6 AUD down to 25.6 = 6

6/31.6=19%

29 NZD down to approx. 22.7 = 6.3

6.3/29=21.7% O.K., not 29%. Must have plugged in a wrong number. I admittedly deserve 40 lashes with a wet noodle.

My wifes familys biz is exporting and sicne they where already pushing the profitmargin close to loss due to overflooding of products by some richer people that decided to buy up a lot of stock and mass-produce...and since the sale is in USdollar, this is in no way good for them.

Foreign customers are having enough time swallowing the increased shipment-costs as it is and the prices for the products haven't even been adjusted up as they should yet...

In a vain effort to get this back on topic (and speaking as someone who's slender income is in Euro's and who is fed up to the ######ing back teeth with reading about the rising value of the baht) is there any substance in the rumour that Ali Khamenei is considering buying a controlling interest in a Ukrainian women's synchronised swimming team if they agree to wear burkhas whilst performing (all this to distract attention from his country's nuclear program)?

This is a really funny post FS. Post of the week - 'cept it's only Monday!

The Nation cartoon today :

And Thaksins response:

"Money, get away.

Get a good job with good pay and youre okay.

Money, its a gas.

Grab that cash with both hands and make a stash.

New car, caviar, four star daydream,

Think Ill buy me a football team."

I am not convinced that the current situation has anything to do with Thaksin's departure but I think he was much more financially aware and had better advisers on how to at least hang onto the financial slide. The current batch of career military have no ideas and every time they messed about with the exchange it made things worse.

True, had Toxin remained would it have made a difference? We'll never know but somehow I think so.

I am not sure on what you are basing that statement but if the exchange rate continues to slide, there will be a lot of export companies including ourself go hard to the wall. I have not seen anything from this government that gives me any confidence that they have stopped the slide let alone reversed it effects.

CB

As I said, I'm not a financial guy but I think it's obvious that if the baht were to strengthen considerably more and remain so there would be an exodus of foreign business interests from Thailand. Tourism would suffer, along with a lot of expats, too. No matter how ignorant the military regime is about finances sooner or later the money people will exert their influence. Just a gut feeling based on common sense, is all. Of course, I could be wrong.

O.K., I'm talking out my arse!!

How did a post about Thaksin & Kim turn into a currency debate?

Soundman.

OMG, is this a first???? A thread in Bedlam that has gone off topic???

Khortot, khortot, khortot. Guilty as charged.

Numbers are not completely accurate but close enough to get the idea across.

AUD . . . -20%

CAD . . . -22%

CNY . . . -20%

EUR . . . -17%

GBP . . . -17%

JPY . . . -31%

MYR . . . -17%

NZD . . . -29%

SGD . . . -20%

TWD . . . -27%

USD . . . -24%

Twaddle. Where did you get those figures, particularly for the Aussie and the Kiwi. At it's strongest, the Aussie was never more than 32 baht for a dollar. It's now around 29.2. That's a shift of 8 or 9%. And the Kiwi is one of the strongest currencies in the world at the moment. A year or so ago a Kiwi bought about 27/28 baht. It's now buying 26. Some slump.

Bendix!!!!!!! Give me a break!!!!! Remember, the time frame for the above numbers is from approx. Sept. '05 up to approx. the 2nd week of March '07.

31.6 AUD down to 25.6 = 6

6/31.6=19%

29 NZD down to approx. 22.7 = 6.3

6.3/29=21.7% O.K., not 29%. Must have plugged in a wrong number. I admittedly deserve 40 lashes with a wet noodle.

I'm confused. What's the relevance of the second week of March? Why not measure it today. Yesterday I withdrew some funds from a NZ account using a Thai atm machine, and got just over 26 baht to the Kiwi.

I'm confused. What's the relevance of the second week of March? Why not measure it today. Yesterday I withdrew some funds from a NZ account using a Thai atm machine, and got just over 26 baht to the Kiwi.

The significance of the 2nd week of March is that within that week every major currency bottomed out. Charts from Jan. '07 to that date for the listed currencies are near identical. I don't understand it but just curious as to why. And why the slide suddenly, abruptly halted.

And as I mentioned in my first post, since then most currencies have recovered but only slightly; some better than others and the NZD has fared among the better. I get paid in USD and am 'slightly' miffed by the fact that the USD has for neigh on four months wobbled almost unerringly between 32 & 33 baht. Frustrating when you'd like to collect on sizeable invoices but can only hold out for so long. Losing 24% from a brief 18 months ago hurts considerably.

Since the topic here is Toxin bashing I'm not departing too far as I'm wondering whether the strong baht would have occurred had he remained in office. Hence, Toxin bashing and desiring his eventual departure might have been akin to shooting ones self in the foot. For all of his negatives he may have made economic sense. We'll never truly know and the question might not be worth arguing about.

Now, does anyone have anymore cartoons?

This topic is way too complicated for a simple minded person like me!

This topic is way too complicated for a simple minded person like me!

That's why you fit in so well with the rest of us simpletons, Tiggy!

This topic is way too complicated for a simple minded person like me!

That's why you fit in so well with the rest of us simpletons, Tiggy!

Oooh tip, thanks for making me feel part of the group of...

...'simpletons'.

Tiggy, you're a tiger. You will never fit in. Too pretty and cuddly.