Popular Post fulhamster Posted September 23, 2022 Popular Post Share Posted September 23, 2022 So despite 2 recent interest rate rises by the US and UK, the baht remains strong, mainly aginst the GBP. I realise that the GBP has tanked vs the USD, but the baht hasn;t really moved. Any explanation how this continues ? 4 Link to comment Share on other sites More sharing options...
Popular Post Peterw42 Posted September 23, 2022 Popular Post Share Posted September 23, 2022 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. 2 4 1 Link to comment Share on other sites More sharing options...
Popular Post topt Posted September 23, 2022 Popular Post Share Posted September 23, 2022 2 minutes ago, fulhamster said: but the baht hasn;t really moved. Against the USD it has moved quite a bit. Recent articles saying the $/baht is the strongest since 2006 or similar. XE this morning suggests mid rate of 37.25 whereas earlier this year it was around 32........ 6 Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted September 23, 2022 Popular Post Share Posted September 23, 2022 At the moment the Government is throwing money away and is giving support to the Baht. regards Worgeordie 4 3 Link to comment Share on other sites More sharing options...
fulhamster Posted September 23, 2022 Author Share Posted September 23, 2022 Just now, Peterw42 said: You have sort of answered your own question. The Baht is very much linked to the USD, so when the pound is down against the dollar, its also down against the baht. But the USD has had a series of rate rises, whereas the baht has had one - which the banks have been told not to apply. I realise the GBP is not so strong, but the baht should be weakening vs the USD as well, perhaps even more than the GBP 2 Link to comment Share on other sites More sharing options...
fulhamster Posted September 23, 2022 Author Share Posted September 23, 2022 1 minute ago, worgeordie said: At the moment the Government is throwing money away and is giving support to the Baht. regards Worgeordie Thank You. I had sort of guessed that -- bt for how long can they keep on supporting it ?? 1 1 Link to comment Share on other sites More sharing options...
Popular Post HighPriority Posted September 23, 2022 Popular Post Share Posted September 23, 2022 Didn’t I read that fearless leader had spoken re the Baht/$ value ? Surely such authority should be enough for mortals like you and I. 1 5 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted September 23, 2022 Popular Post Share Posted September 23, 2022 (edited) The thread title has a little flaw. Should read: Why is the Pound so weak ???? Like it or hate it but the USD is still the reference. Edited September 23, 2022 by KhunBENQ 6 1 2 Link to comment Share on other sites More sharing options...
Popular Post fulhamster Posted September 23, 2022 Author Popular Post Share Posted September 23, 2022 4 minutes ago, HighPriority said: Didn’t I read that fearless leader had spoken re the Baht/$ value ? Surely such authority should be enough for mortals like you and I. Yes, the caretaker has decreed what the rate should be. Just an opinion, not manipulation 6 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted September 23, 2022 Popular Post Share Posted September 23, 2022 If the Baht would have been strong and followed the Dollar, the Pound would now be at about 37. So be happy that the Baht is weak. (comment from a Euro pensioner) 7 Link to comment Share on other sites More sharing options...
Popular Post Chivas Posted September 23, 2022 Popular Post Share Posted September 23, 2022 (edited) The Baht is at its weakest level for 16 years not its strongest lol at over 37.30 at time of post Last time we saw Dollar/Baht at this level was September 2006......every single currency exchange no matter what base currency we bring to Thailand involves the Dollar/Baht ratio The sum of (Dollar/Baht) x (Sterling/Dollar) equates to Sterling/Baht Movement in either pairing affects the bottom line. Forget all the "noise" you'll hear on the thread its those two pairings that solely matter Edited September 23, 2022 by Chivas 6 2 Link to comment Share on other sites More sharing options...
Chivas Posted September 23, 2022 Share Posted September 23, 2022 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 ?? 1 Link to comment Share on other sites More sharing options...
KhunBENQ Posted September 23, 2022 Share Posted September 23, 2022 I think they learned the lesson from 1997 and won't try to stem against the Dollar rise. 1 1 Link to comment Share on other sites More sharing options...
Popular Post Henryford Posted September 23, 2022 Popular Post Share Posted September 23, 2022 The Baht is not strong the others are weak. Does Thailand have a National Debt of 2.5 trillion GBP, 110% of GDP, a massive fiscal deficit and 10% inflation? I am surprised the Pound is not worthless. 8 Link to comment Share on other sites More sharing options...
Popular Post Chivas Posted September 23, 2022 Popular Post Share Posted September 23, 2022 (edited) 16 minutes ago, Henryford said: The Baht is not strong the others are weak. Does Thailand have a National Debt of 2.5 trillion GBP, 110% of GDP, a massive fiscal deficit and 10% inflation? I am surprised the Pound is not worthless. 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" Edited September 23, 2022 by Chivas 8 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted September 23, 2022 Popular Post Share Posted September 23, 2022 1 hour ago, Chivas said: What are you talking about lol ?? Support to the Baht ?? From who ?? From the Government , they just spent 19 Billion Baht supporting the Baht , do you not read the news ? regards Worgeordie 4 1 Link to comment Share on other sites More sharing options...
fulhamster Posted September 23, 2022 Author Share Posted September 23, 2022 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 ?? 2 Link to comment Share on other sites More sharing options...
Stocky Posted September 23, 2022 Share Posted September 23, 2022 Singapore Dollar is doing just fine against the Baht. Your problem is the GBPeso. 1 Link to comment Share on other sites More sharing options...
Chivas Posted September 23, 2022 Share Posted September 23, 2022 (edited) 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 September 23, 2022 by Chivas Link to comment Share on other sites More sharing options...
worgeordie Posted September 23, 2022 Share Posted September 23, 2022 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 1 Link to comment Share on other sites More sharing options...
itsari Posted September 23, 2022 Share Posted September 23, 2022 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 . 2 Link to comment Share on other sites More sharing options...
KhunBENQ Posted September 24, 2022 Share Posted September 24, 2022 (edited) 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 September 24, 2022 by KhunBENQ 1 Link to comment Share on other sites More sharing options...
jwdub12 Posted September 24, 2022 Share Posted September 24, 2022 FWIW Here's the actual article https://www.thaienquirer.com/44229/thai-baht-heads-to-near-37-baht-us-as-bot-defends-its-use-of-19-billion-in-defending-the-currency/ Link to comment Share on other sites More sharing options...
KhunBENQ Posted September 24, 2022 Share Posted September 24, 2022 (edited) 1 hour ago, KhunBENQ said: Looks like the GBP has done another dive. Just noticed that it was good for a news thread Edited September 24, 2022 by KhunBENQ Link to comment Share on other sites More sharing options...
Popular Post Saddic Posted September 24, 2022 Popular Post Share Posted September 24, 2022 (edited) Baht freefall could hit 38 https://www.bangkokpost.com/business/2399250/baht-freefall-could-hit-38 Thai Central Bank is out of bullets, and the US Fed's aint done raising rates... nuff said... Edited September 24, 2022 by Saddic 3 Link to comment Share on other sites More sharing options...
Stocky Posted September 24, 2022 Share Posted September 24, 2022 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. 1 1 Link to comment Share on other sites More sharing options...
AgMech Cowboy Posted September 24, 2022 Share Posted September 24, 2022 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. Link to comment Share on other sites More sharing options...
Expat68 Posted September 24, 2022 Share Posted September 24, 2022 I gave up trying to work it out Link to comment Share on other sites More sharing options...
Isaan sailor Posted September 24, 2022 Share Posted September 24, 2022 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). 1 Link to comment Share on other sites More sharing options...
ChrisKC Posted September 24, 2022 Share Posted September 24, 2022 (edited) 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 September 24, 2022 by ChrisKC typo Link to comment Share on other sites More sharing options...
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