Prawit stuns the cabinet demanding a ฿35 to the dollar rate and action from the Finance Minister

[Isaan sailor]

12 hours ago, Fairynuff said:

Oooooooh touchy

Sorry my feeble attempt at humor and sarcasm missed its mark with you.  Have a nice day.

[Nickelbeer]

On 9/23/2022 at 7:27 AM, novacova said:

It’s the e-communist-y stupid.

 

The commies have infiltrated the USA minds and government and are deliberately destroying the global economy. And it’s most tough on the poorer countries. What has happened to Laos is a direct result of US policies, plain and simple.

Commies????????   Are they still around????  ????

[chalawaan]

Someone give him an Ovaltine, change his incontinence wear, and wheel him off into retirement please. 

[Fairynuff]

5 hours ago, Isaan sailor said:

Sorry my feeble attempt at humor and sarcasm missed its mark with you.  Have a nice day.

Yeah it did. Try harder next time.

[Nickelbeer]

15 hours ago, jacko45k said:

I know distraction is not the best argument but the UK seems to be a better example of appalling economics, Thailand's approach may be a good example for some.  

The UK has some of the smartest economists on the planet.  Thailand seems to ignore basic economic theory or at least they seem to think it’s hardly worth considering for planning purposes. Only my opinion.

[Maybole]

Is he related to King Knut the great?

[jacko45k]

8 hours ago, Nickelbeer said:

The UK has some of the smartest economists on the planet.  Thailand seems to ignore basic economic theory or at least they seem to think it’s hardly worth considering for planning purposes. Only my opinion.

Well the Chancellor is not one of them and they are driving the country into the ground. What is going so wrong with Thailand then as far as economics is concerned? I live here and despite a high inflation I see business picking up well and a lot of development going on. If you simply complain wrt Prawits rather naïve comments, yes that is justified.  

[JensenZ]

On 9/22/2022 at 4:54 AM, madmitch said:

Has he actually looked at any other currencies, many of which have fallen further against the dollar than the baht has? 

They don't consider anything but the USD. The baht has not depreciated, only lost ground against the USD as most other currencies have. I'm getting around the same exchange rate for AUD as I have for years.

 

He uses the 50 baht exchange rate during the Asian financial crisis for reference. Well, that was a case of a depreciated baht. It's now a totally different scenario.

 

Looking at the 1-year currency charts of major world currencies, the AUD, CNY, INR, MYR, and CAD are trading at close to the same level as the THB (compared to a year ago). The EUR, GBP, JPY, and NZD are trading significantly lower. The CHF and SGD are slightly higher.  The PHP is trading lower.

 

The economists in Thailand live in a bubble. There is no benefit to trying to strengthen the baht. It will not work. Japan just tried this last week. It would be a very temporary fix before it slips down again. The US Fed is committed to increasing the interest rates over the next year - every month. The DXY (USD index) closed at 113 on Friday, the highest level since early 2001 (the record high was 120 in 2000).

[Robert Tyrrell]

Hello ,

 Apparently Prawit has no knowledge of legal and fair practices of monetary global exchange rates and practices, That he openly admits falsely intending to falsely manipulate the Thai Currency.

No wonder why The United States ???????? Treasury has put Thailand on the watchlist for potentially falsely trying to manipulate the Thai Baht !!