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How does the Baht stay so strong ??


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Just now, Peterw42 said:

You have sort of answered your own question. The Baht is very much linked to the USD, so when the pound is down against the dollar, its also down against the baht.

But the USD has had a series of rate rises, whereas the baht has had one - which the banks have been told not to apply. I realise the GBP is not so strong, but the baht should be weakening vs the USD as well, perhaps even more than the GBP

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1 minute ago, worgeordie said:

At the moment the Government is throwing money away and 

is giving support to the Baht.

regards Worgeordie

Thank You. I had sort of guessed that -- bt for how long can they keep on supporting it ??

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51 minutes ago, worgeordie said:

At the moment the Government is throwing money away and 

is giving support to the Baht.

regards Worgeordie

What are you talking about lol ??  Support to the Baht ??  From who ??

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1 hour ago, worgeordie said:

From the Government , they just spent 19 Billion Baht supporting

the Baht , do you not read the news ?  

regards  Worgeordie

How long can they continue to do this ??

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8 hours ago, worgeordie said:

From the Government , they just spent 19 Billion Baht supporting

the Baht , do you not read the news ?  

regards  Worgeordie

Dont give up your day job

Supporting the Baht ??  They're actively shorting it fella

Lowest for 16 years

If thats support God alone knows.......

Edited by Chivas
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3 hours ago, Chivas said:

Dont give up your day job

Supporting the Baht ??  They're actively shorting it fella

Lowest for 16 years

If thats support God alone knows.......

Where did the 19 Billion Baht  go then ? , lowest for 16 years , against the US Dollar,

but not so against other major currencies , 

 

regards worgeordie

 

 

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22 hours ago, worgeordie said:

At the moment the Government is throwing money away and 

is giving support to the Baht.

regards Worgeordie

Many countries are doing the same . 

The US dollar strength is causing big problems for many countries .

 

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Looks like the GBP has done another dive.

40.7 at currency market.

"Lowest rate since 37 years" is one headline.

 

Makes the Euro loss feel moderate.

Edited by KhunBENQ
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1 hour ago, KhunBENQ said:

Looks like the GBP has done another dive.

Just noticed that it was good for a news thread 

Edited by KhunBENQ
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1 hour ago, Saddic said:

Thai Central Bank is out of bullets

Hardly, with interest rates at 0.75% they have plenty of ammunition in hand.

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2 hours ago, Stocky said:

Hardly, with interest rates at 0.75% they have plenty of ammunition in hand.

Yep, I sure hope they don't use them. 😉   

I don't think a stronger Baht will help their export businesses, which they need to fire up the economy.

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On 9/23/2022 at 11:12 AM, Chivas said:

Its utterly astonishing how so many just dont grasp how foreign exchange works.....thats not aimed at the quoted poster per se

 

The Baht takes its "fix" off the worlds "reserve" currency USD 24/7   (as does every other currency for that matter)

 

Dollar/Baht is part of EVERY exchange rate that relates to Thailand whether your fiat currency is Sterling/Euro/AUD etc etc etc

 

Its the strongest or weakest depending on your point of view its been since 2006

 

(Dollar/Baht) x (Sterling/Dollar)

(Dollar/Baht) x (AUD/Dollar)

(Dollar/Baht) x (Euro/Dollar)

 

And so on.....

 

What is WEAK is all our fiat currencies value against the USD

 

No matter where you come from only 2 ratio's are of importance

 

Dollar/Baht and your OWN currencies value against the USD

 

Anything else is just "noise"

 

Well said.  And I’ll add, every dog has its day.  USD has languished in the high 20’s and low 30’s far too long.  I do see a pattern now.  When US stocks go down—Baht goes down on USD (risk off).  When US stocks rise—Baht also rises (currency traders call this: risk on).

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8 hours ago, KhunBENQ said:

Looks like the GBP has done another dive.

40.7 at currency market.

"Lowest rate since 37 years" is one headline.

 

Makes the Euro loss feel moderate.

Yes it has, arising I think, from a mini budget in the UK yesterday 23 Sept. 

 

My pensions arrived two days before at the 42 rate so I haven't been affected (until next month?)

Edited by ChrisKC
typo
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