Thailand’s currency weakens to 38 baht per US dollar

[Dan O]

3 hours ago, Hawaiian said:

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

There's any number of issues involved and you know them as you've quoted them in your own responses on other threads and been told them by other posters in reply to you. 

 

You can move on now, have a great day 

 

 

[Hawaiian]

4 hours ago, Dan O said:

There's any number of issues involved and you know them as you've quoted them in your own responses on other threads and been told them by other posters in reply to you. 

 

You can move on now, have a great day 

 

 

Thank you for confirming that many of your posts and replies are filled with baseless facts.

[Dan O]

22 minutes ago, Hawaiian said:

Thank you for confirming that many of your posts and replies are filled with baseless facts.

Hahahahah Nope, your just looking for an argument and Im not biting on it. You're the one that raised the "Rest of the Story" issue but offered nothing. You have access to the internet so troll there.  You can just march on now and try to harass someone willing to play your game. Have a great day

[Hawaiian]

3 minutes ago, Dan O said:

Hahahahah Nope, your just looking for an argument and Im not biting on it. You're the one that raised the "Rest of the Story" issue but offered nothing. You have access to the internet so troll there.  You can just march on now and try to harass someone willing to play your game. Have a great day

Deflection..........

[Hawaiian]

3 hours ago, Hawaiian said:

Deflection..........

Plus reading comprehension problems.

[JensenZ]

On 9/28/2022 at 7:08 PM, 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 THB floats against the USD and all other major currencies. This article is nonsense. The baht is quite steady and even gaining against other major currencies. I'm getting about the same baht per AUD as I have for years. The GBP and EUR have lost ground to the baht.

 

The DXY (USD index) is at its highest since 2001. People are buying USD due to interest rate hikes and consider it a good store of value.

[nigelforbes]

37 minutes ago, JensenZ said:

The THB floats against the USD and all other major currencies. This article is nonsense. The baht is quite steady and even gaining against other major currencies. I'm getting about the same baht per AUD as I have for years. The GBP and EUR have lost ground to the baht.

 

The DXY (USD index) is at its highest since 2001. People are buying USD due to interest rate hikes and consider it a good store of value.

Not exactly. BOT operates a managed floating exchange rate under IMF rules, aka the cheaters float. This means the BOT is able to intervene in markets at will, in order to keep the currency within a desired range. And since Thailand is an export driven economy where over 60% of the export bills are settled in USD, it follows that the currency is managed against USD. The article is broadly correct, THB has weakened about 15% (from memory) against USD. https://www.reuters.com/markets/europe/global-markets-view-asia-graphic-2022-09-25/?fbclid=IwAR2S3ja8NLgK0XvB2ZN0jaOYMBgM8tVVfCUbGsAQ0QNpPDQYxkSIB-mC0d4

Edited October 2, 2022 by nigelforbes

[jacko45k]

On 9/29/2022 at 2:55 PM, Pattaya Spotter said:

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

Just got an email from Wise saying they can no longer guarantee the rate quoted. I have found their charges are getting higher and depending on amount be more than what my bank asks... but Wise always won out due to best rates. 

[Enzian]

On 9/28/2022 at 5:19 PM, smedly said:

 

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 ?.

No, because the most destructive thing that can happen to a country is out of control inflation. The Fed has made a lot of mistakes but at least that is one thing they know from history. High inflation almost always leads to populist leaders taking over, and the last thing that bunch wants is another likeness of Trump.

Edited October 3, 2022 by Enzian
error

[JensenZ]

On 10/2/2022 at 4:55 PM, nigelforbes said:

Not exactly. BOT operates a managed floating exchange rate under IMF rules, aka the cheaters float. This means the BOT is able to intervene in markets at will, in order to keep the currency within a desired range. And since Thailand is an export driven economy where over 60% of the export bills are settled in USD, it follows that the currency is managed against USD. The article is broadly correct, THB has weakened about 15% (from memory) against USD. https://www.reuters.com/markets/europe/global-markets-view-asia-graphic-2022-09-25/?fbclid=IwAR2S3ja8NLgK0XvB2ZN0jaOYMBgM8tVVfCUbGsAQ0QNpPDQYxkSIB-mC0d4

The point I was trying to make is that against a basket of currencies, (the DXY index) all major currencies have weakened against the USD and the baht is stronger against some and holding steady against others. There's no point in them harping on about the USD exchange rate. The rest of the world is in the same boat and will continue to be as long as the Fed continues with a monthly increase in interest rates.

[JensenZ]

On 10/3/2022 at 10:24 AM, Enzian said:

No, because the most destructive thing that can happen to a country is out of control inflation. The Fed has made a lot of mistakes but at least that is one thing they know from history. High inflation almost always leads to populist leaders taking over, and the last thing that bunch wants is another likeness of Trump.

I think the last thing the US needs they already have - Biden.