Thailand’s currency weakens to 38 baht per US dollar

[Pattaya Spotter]

???? ???? ???? ???? 

[AnotherFarang8]

Debt ridden fiat currencies are starting to fall noticeably now. Central banks of the world one by one give up on their promises to hawkishly fight inflation, instead they restart Quantitative Easings aka money printing. European CB back in July, British CB yesterday, Japan has been doing it for a long time. Fed is the strongest duck in a row but at some point rates will be so high that debt payments can no longer be served, and Fed will fold too and restart injecting cash on the scale that Covid time injections will look a child’s play, to avoid cascading bankruptcies. If you think you know inflation you have seen nothing yet.

[Pattaya Spotter]

19 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?

The world is currently going to helle in a hand-basket...which currency would you rather have stuffed under your mattress...a pile of US dollars or Thai baht?

 

Most banks, money managers, and investors around the world pick dollars and since most of them aren't Americans they have to buy them thus pushing up their price (exchange rate value).

[Pattaya Spotter]

18 hours ago, Neeranam said:

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

"Cheap as chips" as they say.

[Pattaya Spotter]

10 hours ago, SiamAndy said:

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.

 

1% for a money transfer is pretty cheap; my last Wise transfer from my US bank credited to my Thai bank in seconds. 

[grandpa]

20 hours ago, snoop1130 said:

The Thai baht continues to weaken against the US dollar

As does the £ ????

[zzaa09]

The multipolar shift is in full swing which doesn't bide well for the traditional Anglophone dominance.....all of which is failing subordinately fast. 

 

The Great Reset is not living up to expectations. 

[Neeranam]

3 hours ago, AnotherFarang8 said:

Debt ridden fiat currencies are starting to fall noticeably now. Central banks of the world one by one give up on their promises to hawkishly fight inflation, instead they restart Quantitative Easings aka money printing.

This is why Bitcoin  and DeFi was created.

[fusion58]

23 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. 

It’s the idea that people are blaming Biden for these downturns that’s hilarious. ????

[Dan O]

On 9/28/2022 at 6:23 PM, 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. 

 

Yeah, it appears you know little to nothing about what started this latest round of financial chaos.

 

This all started with Trump era economics and the excessive over funding of the US with free money due to covid. It wasn't necessary to fund big corps with excessive free cash which started the bubble of excessive profits and inflated share pricing. 

 

Had that not occurred the current rate increases would never have happened and the follow-on impact to other currencies wouldn't be so dramatic.

 

Funny how folks from other countries like to bash the US but their the first in line asking for help and support.

[sammieuk1]

Very good for our American friends but for the UK Boris killed the £ with his Brexit bus and Liz has nailed down the coffin lid with her maniac tax cuts for millionaires ????  

[Hawaiian]

1 hour ago, Dan O said:

Yeah, it appears you know little to nothing about what started this latest round of financial chaos.

 

This all started with Trump era economics and the excessive over funding of the US with free money due to covid. It wasn't necessary to fund big corps with excessive free cash which started the bubble of excessive profits and inflated share pricing. 

 

Had that not occurred the current rate increases would never have happened and the follow-on impact to other currencies wouldn't be so dramatic.

 

Funny how folks from other countries like to bash the US but their the first in line asking for help and support.

As Paul Harvey used to say, "Now for the rest of the story."  Yes, Trump was responsible for doling out a lot of free money believing it would help relieve the stresses brought on by Covid and avert a major financial crisis.  It helped many Americans and businesses stave off financial ruin. Because time was of the essence a lot of  money went to the wrong people.

 On the other hand, Biden in his bid to keep him and his party in power is continuing the spending spree which has just added fuel to the inflation fire.  Cancellation of student loan debt is not a national emergency.  Neither is the Green New Deal.  These two programs will surely cost more than what the Covid rescue package cost.

[Hawaiian]

16 hours ago, AnotherFarang8 said:

Debt ridden fiat currencies are starting to fall noticeably now. Central banks of the world one by one give up on their promises to hawkishly fight inflation, instead they restart Quantitative Easings aka money printing. European CB back in July, British CB yesterday, Japan has been doing it for a long time. Fed is the strongest duck in a row but at some point rates will be so high that debt payments can no longer be served, and Fed will fold too and restart injecting cash on the scale that Covid time injections will look a child’s play, to avoid cascading bankruptcies. If you think you know inflation you have seen nothing yet.

Bingo!  You hit the nail on the head.  The rise in interest rates means more printing of money to service the debt.  If the dollar were not the chief reserve currency of the world this would not be possible.  So far China has not been able to replace the dollar with the yuan.  Distrust of China has been growing so most countries don't want to abandon the dollar.

[Hawaiian]

1 hour ago, Dan O said:

Yeah, it appears you know little to nothing about what started this latest round of financial chaos.

 

This all started with Trump era economics and the excessive over funding of the US with free money due to covid. It wasn't necessary to fund big corps with excessive free cash which started the bubble of excessive profits and inflated share pricing. 

 

Had that not occurred the current rate increases would never have happened and the follow-on impact to other currencies wouldn't be so dramatic.

 

Funny how folks from other countries like to bash the US but their the first in line asking for help and support.

As Paul Harvey used to say, "Now for the rest of the story."  Yes, Trump was responsible for doling out a lot of free money believing it would help relieve the stresses brought on by Covid and avert a major financial crisis.  It helped many Americans and businesses stave off financial ruin. Because time was of the essence a lot of  money went to the wrong people.

 On the other hand, Biden in his bid to keep him and his party in power is continuing the spending spree which has just added fuel to the inflation fire.  Cancellation of student loan debt is not a national emergency.  Neither is the Green New Deal.  These two programs will surely cost more than what the Covid rescue package cost.

[Dan O]

6 minutes ago, Hawaiian said:

As Paul Harvey used to say, "Now for the rest of the story."  Yes, Trump was responsible for doling out a lot of free money believing it would help relieve the stresses brought on by Covid and avert a major financial crisis.  It helped many Americans and businesses stave off financial ruin. Because time was of the essence a lot of  money went to the wrong people.

 On the other hand, Biden in his bid to keep him and his party in power is continuing the spending spree which has just added fuel to the inflation fire.  Cancellation of student loan debt is not a national emergency.  Neither is the Green New Deal.  These two programs will surely cost more than what the Covid rescue package cost.

There's much more to the story than those two issues and the cause isn't from biden.

 

The Federal Reserves action are not controlled by the President in any manner. 

 

 Spending on infrastructure is a positive and long overdue. It is  badly needed and will generate returns in excess of spending, create jobs and fix issues ignored by Republicans for far too long. 

 

 Not sure what your referring to with the green new deal??? 

[Dan O]

13 minutes ago, Hawaiian said:

Bingo!  You hit the nail on the head.  The rise in interest rates means more printing of money to service the debt.  If the dollar were not the chief reserve currency of the world this would not be possible.  So far China has not been able to replace the dollar with the yuan.  Distrust of China has been growing so most countries don't want to abandon the dollar.

And why should anyone trust the Chinese considering the total control that the government has over their currency and the bankrupt condition China is in .

[Hawaiian]

4 hours ago, Dan O said:

There's much more to the story than those two issues and the cause isn't from biden.

 

The Federal Reserves action are not controlled by the President in any manner. 

 

 Spending on infrastructure is a positive and long overdue. It is  badly needed and will generate returns in excess of spending, create jobs and fix issues ignored by Republicans for far too long. 

 

 Not sure what your referring to with the green new deal??? 

Feel free to elaborate on the rest of the story.  And while you are at it tell us more about the independence of the federal reserve, which by the way I did not mention.

[Hawaiian]

4 hours ago, Dan O said:

And why should anyone trust the Chinese considering the total control that the government has over their currency and the bankrupt condition China is in .

Thank you for letting us know how untrustworthy China is.

[Lemsta69]

On 9/29/2022 at 4:20 AM, SiamAndy said:

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.

do you have some names for us? I've just been using wire transfer to BBL because it's not that much worse than Wise.

[billd766]

Today's KBank Forex rates.

 

 

[billd766]

BBK Forex rates at 1:24 pm today.

 

 

[connda]

Oh sweet.  It may be time to cash out part of the retirement funds and move it to Thailand to enjoy the USD markup in the FX market against the THB.

 

[rbkk]

23 hours ago, Pattaya Spotter said:

"Cheap as chips" as they say.

You'll be able to get some curry sauce with them now!

[Hawaiian]

8 hours ago, Dan O said:

Yeah, it appears you know little to nothing about what started this latest round of financial chaos.

 

This all started with Trump era economics and the excessive over funding of the US with free money due to covid. It wasn't necessary to fund big corps with excessive free cash which started the bubble of excessive profits and inflated share pricing. 

 

Had that not occurred the current rate increases would never have happened and the follow-on impact to other currencies wouldn't be so dramatic.

 

Funny how folks from other countries like to bash the US but their the first in line asking for help and support.

Who is to blame for today's high inflation rate?  Biden supporters blame Trump and Trump supporters blame Biden.  Here is one well know economist's explanation:  https://news.stanford.edu/2022/09/06/what-causes-inflation/

[Dan O]

7 hours ago, Hawaiian said:

Thank you for letting us know how untrustworthy China is.

I believe most already know about China but glad I could help you. 

[Dan O]

7 hours ago, Hawaiian said:

Feel free to elaborate on the rest of the story.  And while you are at it tell us more about the independence of the federal reserve, which by the way I did not mention.

Nothing to tell about the Federal Reserve that you cant find if you look it up on Google. 

 

I didn't say you mention Federal Reserve did I? They set interest rates which in turn affects the flow of money which in turn is one major contributor on this cycle of inflation.  

[Hawaiian]

Pre

1 minute ago, Dan O said:

Nothing to tell about the Federal Reserve that you cant find if you look it up on Google. 

 

I didn't say you mention Federal Reserve did I? They set interest rates which in turn affects the flow of money which in turn is one major contributor on this cycle of inflation.  

Preaching to the choir, again.

[Hawaiian]

9 minutes ago, Dan O said:

I believe most already know about China but glad I could help you. 

Preaching to the choir?

[Dan O]

24 minutes ago, Hawaiian said:

Pre

Preaching to the choir, again.

Nope just replying to your comments to me 

[Hawaiian]

On 9/29/2022 at 2:33 PM, Dan O said:

There's much more to the story than those two issues and the cause isn't from biden.

 

The Federal Reserves action are not controlled by the President in any manner. 

 

 Spending on infrastructure is a positive and long overdue. It is  badly needed and will generate returns in excess of spending, create jobs and fix issues ignored by Republicans for far too long. 

 

 Not sure what your referring to with the green new deal??? 

Still waiting to hear from you about the rest of the story and "those two issues and the cause isn't from biden."