Thailand’s currency weakens to 38 baht per US dollar

[snoop1130]

 

The Thai baht continues to weaken against the US dollar, falling to 38/$US, mainly due to the strengthening of the greenback, as a result of the recent increase in the US Federal Reserve’s base rate, which has forced other currencies, including the Thai baht, to weaken. Analysts say, however, that this is not unexpected.

 

According to Kasikorn Bank, for every 0.25% US base interest rate increase, the Thai currency will weaken by about 38 satang against the US dollar. The bank said that the situation is just short-term and the Thai currency is expected to strengthen to about 35/$US at the end of this year.

 

CIMB Bank, however, has forecasts that the Thai baht may drop to 40/$US, if the US Federal Reserve increases its base rate further, as this would increase the interest rate gap between the two countries.

 

Full Story: https://www.thaipbsworld.com/thailands-currency-weakens-to-38-baht-per-us-dollar/

 

-- © Copyright Thai PBS 2022-09-28

 

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[HappyExpat57]

I am admittedly completely ignorant about the exchange rates. I thought the dollar and baht were loosely linked against most other currencies. Can someone enlighten me?

[billd766]

2 screenshots taken in the last couple of minutes.

[Neeranam]

Paid in $ and going to the UK  for a month, couldn't be better. 

[Maha Sarakham]

Definitely a breath of fresh air, would love to see it hit 40!

[Misab]

2 hours ago, HappyExpat57 said:

I am admittedly completely ignorant about the exchange rates. I thought the dollar and baht were loosely linked against most other currencies. Can someone enlighten me?

They used to be but since the US dollars economy apparently are strong the dollar has risen over for almost all currencies also over for Bath

[Misab]

Just now, Misab said:

They used to be but since the US dollars economy apparently are strong the dollar has risen over for almost all currencies also over for Bath

Should mention it is only the dollar where the baht has weaken, it still strong over for other currencies like euro, Australian dollar etc.

[rbkk]

9 minutes ago, Misab said:

Should mention it is only the dollar where the baht has weaken

Include the Hong Kong Dollar as it's pegged. The HKMA (Cental Bank HK) have intervened again today and it's likely going to continue as the Fed are tipped to raise rates again in Nov and Dec.

https://www.scmp.com/business/article/3194065/hong-kong-defends-currency-peg-32nd-time-year-amid-outflow-capital-chasing

[fusion58]

I’m lovin’ it! ????

 

 

[jethro69]

1 hour ago, Misab said:

They used to be but since the US dollars economy apparently are strong the dollar has risen over for almost all currencies also over for Bath

Nothing to do with a strong economy, they just are determining to fight the inflation, after all there are midterm election in fall.

 The US has the most debts of any nation in the world, so this policy with the interest rising rates will end soon, maybe in early 2023, maybe late 2023.

It might be in the interest of the FED to kill those Zombie companies, which just stay afloat because of cheap credits, but are doomed to fail sooner or later anyways. The sooner the better for the health of the economy.    

[SiamAndy]

5 hours ago, fusion58 said:

I’m lovin’ it! ????

 

 

It would be even better if some of the Money Transfer services didn't take such a big cut for their fees. Other Money Transfer services are more reasonable.

Edited September 28, 2022 by SiamAndy
Typo

[RichardColeman]

7 hours ago, Misab said:

They used to be but since the US dollars economy apparently are strong the dollar has risen over for almost all currencies also over for Bath

What a load of tosh. The US economy is in the toilet  and the the fed raising rates and pulling in money due to the incompetence of Biden and his crew wrecking the economy by printing money, spending it and giving it away to people that want to stay home and not work. Totally the faulty of biden policies. 

 

Whilst this may well benefit our USA friends, it will kill other exchanges. THAT in turn will destroy the Thai economy more

[Misab]

7 minutes ago, RichardColeman said:

Biden and his crew wrecking the economy by printing money, spending it and giving it away to people that want to stay home and not work. Totally the faulty of biden policies. 

Sorry, I step on the toe of a republican

[RichardColeman]

3 minutes ago, Misab said:

Sorry, I step on the toe of a republican

As I'm English, I do not think so, but I wonder how many yanks benefitting from the rise here, give a hoot about those in the states now that cannot retire as their money will will by 20-25% less income now, or cannot by a house as the rates make purchase impossible. 

[SiamAndy]

15 minutes ago, RichardColeman said:

As I'm English, I do not think so, but I wonder how many yanks benefitting from the rise here, give a hoot about those in the states now that cannot retire as their money will will by 20-25% less income now, or cannot by a house as the rates make purchase impossible. 

Things in the States are a mess now, just as they are in the UK  : (

[smedly]

12 hours ago, snoop1130 said:

The Thai baht continues to weaken against the US dollar

The whole headline in this article is garbage, it could simply have been written as "US Dollar continues to strengthen against all currencies"

 

Ok so now that that is out of the way there is an obvious question that must be asked - Has the US FED-R gone too far over too short a time and is setting up another financial disaster ?. 

[pomchop]

http://www.vasuexchange.com/

[Scott]

Off-topic, racist posts reported and removed.  

 

[metisdead]

A post with a link to an unapproved YouTube source has been removed, it was off topic anyway. 

[mikeymike100]

3 hours ago, Misab said:

Sorry, I step on the toe of a republican

Its got nothing to do with politics, as you seem to think!

 Any country just printing vast amounts of money over an extended period raises the infation rate, which really benefits no one!

[moskito]

1 minute ago, mikeymike100 said:

Its got nothing to do with politics, as you seem to think!

 Any country just printing vast amounts of money over an extended period raises the infation rate, which really benefits no one!

Thats absolutely not true, or do you want to tell me it doesnt benefit the USDollar atm?
The USA started with this printing huge amounts of money to finance their bankrupt system. They are bankrupt since many years or is this not the truth?
Fact is also that EUROPE, specially Germany is prining money in vast amounts to support half the world and specially the immigrants from Africa but also their own countrymen. Often you get more money out of government support in Germany as if you get up every morning to do a proper job. I am German, i know what this Pooliticians did to the country in the past years.

[hotchilli]

15 hours ago, snoop1130 said:

The Thai baht continues to weaken against the US dollar, falling to 38/$US, mainly due to the strengthening of the greenback, as a result of the recent increase in the US Federal Reserve’s base rate, which has forced other currencies, including the Thai baht, to weaken. Analysts say, however, that this is not unexpected.

Keep it going... might eventually do something against sterling.

[crazykopite]

It’s all going to go belly up very soon they the gov have been manipulating the Baht since the first day of the coup 

[huangnon]

1 hour ago, mikeymike100 said:

Its got nothing to do with politics, as you seem to think!

 Any country just printing vast amounts of money over an extended period raises the infation rate, which really benefits no one!

Isn't the US floating a CBDC (central bank digital currency) later this year? Digitizing the dollar?

Should be erm, interesting.

 

https://www.whitehouse.gov/ostp/news-updates/2022/09/16/technical-possibilities-for-a-u-s-central-bank-digital-currency/

 

 

[Stargeezr]

Today the Canada dollar is only 72 cents to the USA dollar.

  A lot of countries have the same situation. It is the US dollar that 

has increased in value.   It certainly is not the USA people who are getting richer,

except maybe the rich ones.

Harvey

[wwest5829]

6 hours ago, RichardColeman said:

As I'm English, I do not think so, but I wonder how many yanks benefitting from the rise here, give a hoot about those in the states now that cannot retire as their money will will by 20-25% less income now, or cannot by a house as the rates make purchase impossible. 

Well, I am concerned about others but … I determined I could not have a working middle class retirement in the USA as a citizen so I looked to join millions of others from the working middle class (USA is not alone here) to retire in a lower cost country. Right now enjoying the $ to Baht rate, being informed that my Medicare monthly premium will be reduced by 3%, plus getting an inflation bump in Social Security for next year.

[bkk6060]

From where it was a few years ago around 30, it is like a 20% raise for Americans.  Way ahead of inflation here.

[earlinclaifornia]

7 hours ago, RichardColeman said:

What a load of tosh. The US economy is in the toilet  and the the fed raising rates and pulling in money due to the incompetence of Biden and his crew wrecking the economy by printing money, spending it and giving it away to people that want to stay home and not work. Totally the faulty of biden policies. 

 

Whilst this may well benefit our USA friends, it will kill other exchanges. THAT in turn will destroy the Thai economy more

A Brit tells the forum how America is doing! Let me add Load of trash....

[earlinclaifornia]

1 hour ago, wwest5829 said:

Well, I am concerned about others but … I determined I could not have a working middle class retirement in the USA as a citizen so I looked to join millions of others from the working middle class (USA is not alone here) to retire in a lower cost country. Right now enjoying the $ to Baht rate, being informed that my Medicare monthly premium will be reduced by 3%, plus getting an inflation bump in Social Security for next year.

Life is staying GOOD these days

[billd766]

18 hours ago, billd766 said:

2 screenshots taken in the last couple of minutes.

Thursday afternoon close to 2 pm.