Thai Baht Vs US dollar stupid reversal

[ESLTeacher1989]

38 baht > 35.6 in just 10 days............what kind of stupid reversal is this?

 

I hate it because I get paid on the 13-15th each month from job in US dollars...........If I had gotten paid at the end of the month (31st October).............I would have an extra 6000 baht to spend

 

 

[FritsSikkink]

Used to be 33 not so long ago. Don't get paid in USD then but in THB if you don't like it.

[KhunLA]

... and you are complaining about 35 ????

Better hope it stays there ...

 

USA SS Direct Deposits, usually on the 3rd, thankfully ????

 

[1FinickyOne]

3 hours ago, ESLTeacher1989 said:

what kind of stupid reversal is this?

ha ha ha..

 

The ESL teacher is smart, the world markets are stupid... 

 

maybe if you get a pay raise you can control the markets.. 

 

ok, while I have your attention...

 

I go. 

we go. 

they go.

 

he goes

she goes

 

why is that? I'm stupid too. 

[sammieuk1]

Suggest your lucky not to be in pounds and the 6 years of hammering after the brexit vote its taken ????

[CharlieH]

MOVED to Banking

[Isaan sailor]

Unsure how to react, sometimes.  Yes, USD has lost over 200 Satang in 30 days. But so have other western currencies.  And Baht much higher a year ago.  Currency fluctuations can’t be a good sign for prospective industries looking to leave China.  Vietnam does a better job of holding its currency stable.

[chang50]

35 minutes ago, sammieuk1 said:

Suggest your lucky not to be in pounds and the 6 years of hammering after the brexit vote its taken ????

Ah Brexit the single stupidest self inflicted wound ever.

[falang07]

Nothing lasts forever, be happy you did not fix your salary in crypto ????

 

[bluejets]

Must be a right pain to be on only USD$2500 a month in Thailand....

Have to give uo the Dunkin donuts...????????????

Edited November 14, 2022 by bluejets

[jdlancaster]

The US $ is near decade highs still. Should be happy with current exchange rates. Much of it is due to the FED raising interest rates. You could keep your savings in US $. Hard to predict what will happen in the future. If you get an opportunity, save until the exchange rate is to your liking. Just keep in mind, markets are forward looking and any surprises in rate hikes (or easing) can drastically change things.

[Troy Tempest]

3 hours ago, 1FinickyOne said:

ha ha ha..

 

The ESL teacher is smart, the world markets are stupid... 

 

maybe if you get a pay raise you can control the markets.. 

 

ok, while I have your attention...

 

I go. 

we go. 

they go.

 

he goes

she goes

 

why is that? I'm stupid too. 

And there you money goes!

 

Top Tip:   Reduce currency fluctuation worries and stop whingeing!

 

Put your hard earned cash and savings into  something safe next time like Twitter stocks, Weed or FTX!

 

Just saying!

 

Edited November 14, 2022 by Troy Tempest

[The Theory]

During his absence that was about a month Thai ฿ reached 38 against US$. But after he came back in power this is what you see, lower than ฿36. In fact I see that this artificial rate is not holding any price down and inflation is already there. This is not a right way to fight inflation, I found even "orio cookie" price gone up from ฿5 to ฿6 today. Since Thai banks are not able to raise interest rates lowering exchange rate will not be a solution for inflation. 

Edited November 14, 2022 by The Theory

[Everyman]

The USD to THB rate has dropped because currency traders think the US Federal Reserve is done raising interest rates. It isn’t.

 

As far as English teachers “thinking they are smarter than currency markets,” it’s not about who is smart, or who is a trader and who is a teacher. What matters is who is right. 

[Isaan sailor]

1 hour ago, Everyman said:

The USD to THB rate has dropped because currency traders think the US Federal Reserve is done raising interest rates. It isn’t.

 

As far as English teachers “thinking they are smarter than currency markets,” it’s not about who is smart, or who is a trader and who is a teacher. What matters is who is right. 

And the Fed goes into silent mode a week before they all meet to announce policy.  So the false rumor that the Fed will stop raising rates continues to drive the USD down.  Here in the LoS—the almighty Baht rises.