snoop1130 Posted December 1, 2022 Share Posted December 1, 2022 BANGKOK, Dec 1 (TNA) – This morning the bath value appreciated to 34.97 baht against a US dollar, its strongest level in five months, compared to its close yesterday at 35.26 baht per dollar. Kanchana Chokpaisarnsilp, a research executive at Kasikorn Research Center, said Asian currencies including baht appreciated as US dollar weakened after Federal Reserve chairman Jerome Powell said interest rate increase could slow down in December. Poon Panichpibool, markets strategist at Krungthai Global Markets of Krungthai Bank, said players in the monetary market of the United States were less concerned about the interest rate increase by the Fed and fully exposed themselves to risks as Mr Powell agreed with other Fed officials to slow down the Fed’s rate hike. Full Story: https://tna.mcot.net/english-news-1068296 -- © Copyright Thai News Agency 2022-12-01 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! 1 Link to comment Share on other sites More sharing options...
Popular Post ozz1 Posted December 1, 2022 Popular Post Share Posted December 1, 2022 It's going to hit their exports hard and drive tourists away so good luck Thailand 6 1 1 Link to comment Share on other sites More sharing options...
sqwakvfr Posted December 1, 2022 Share Posted December 1, 2022 I remember 28 to 1 USD when I visited some years ago. This was when tourism was booming(and other booms as well). 1 1 Link to comment Share on other sites More sharing options...
garrya Posted December 1, 2022 Share Posted December 1, 2022 Finally! Carry on Baht! Link to comment Share on other sites More sharing options...
Popular Post dinsdale Posted December 1, 2022 Popular Post Share Posted December 1, 2022 Rates up. Exports expected to reduce. Tourism expected to reduce. Thai baht strenghtens. 1 4 Link to comment Share on other sites More sharing options...
Popular Post BayArea Posted December 1, 2022 Popular Post Share Posted December 1, 2022 3 hours ago, dinsdale said: Rates up. Exports expected to reduce. Tourism expected to reduce. Thai baht strenghtens. we know it's not good for Thailand, but the 5 % who control LOS are happy as hell and don't give a you know what. what matters is they stayed rich and powerful. 4 2 1 Link to comment Share on other sites More sharing options...
Popular Post Phnom Penh Trader Posted December 1, 2022 Popular Post Share Posted December 1, 2022 The US Dollar has been tanking against most of the majors (hard currencies) for 6-7 weeks now GBPUSD,EURUSD,NZDUSD etc. 1 2 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted December 1, 2022 Popular Post Share Posted December 1, 2022 Seems to me the baht is going insane again due to demand for baht for holidays, but same demand is killing exports. They would be better off letting it fall to export more and get more tourists spending more baht in country. You would have to think that destroying exports and turning tourists off is the result of the rich thais deliberately manipulating the currency to help themselves 1 1 3 1 Link to comment Share on other sites More sharing options...
ozimoron Posted December 1, 2022 Share Posted December 1, 2022 At a time when tourism looks to be the strongest pillar of the Thai economy it makes economic sense to maintain the value of the Baht at high levels. I did mention recently that Thailand runs a current account surplus and is one of several Asian countries bucking the worldwide trend into recession. Link to comment Share on other sites More sharing options...
Popular Post new2here Posted December 1, 2022 Popular Post Share Posted December 1, 2022 I don’t think it’s the baht getting stronger per se.. i think it’s more to do with how the market views the USD going forward. Given Chairman Powells’ comments I suspect the market sees the dollar at perhaps topping out as the signal seems to be smaller FOMC upticks of perhaps 50bp and not the much larger 75bps they’ve done. So, i suspect the THB/USD issue is more to do with movement in the USD than it is the relative strength or weakness of the THB itself 1 2 Link to comment Share on other sites More sharing options...
hotchilli Posted December 2, 2022 Share Posted December 2, 2022 14 hours ago, dinsdale said: Rates up. Exports expected to reduce. Tourism expected to reduce. Thai baht strenghtens. TAT maintains tourism will rocket in Thailand next year.. back to 80% of pre-pandemic times. Link to comment Share on other sites More sharing options...
Phnom Penh Trader Posted December 2, 2022 Share Posted December 2, 2022 A strong currency doesn’t actually help any country as it makes exports far more expensive,stocks in that country’s companies more expensive and deters FDI/Foreign Direct Investment. Of course no-one expects Thailand to have worked all this out though? 1 Link to comment Share on other sites More sharing options...
Popular Post John Drake Posted December 2, 2022 Popular Post Share Posted December 2, 2022 38 minutes ago, Phnom Penh Trader said: A strong currency doesn’t actually help any country as it makes exports far more expensive,stocks in that country’s companies more expensive and deters FDI/Foreign Direct Investment. Of course no-one expects Thailand to have worked all this out though? But it helps a lot when you're buying soccer teams, mansions in the UK and US, and buying out foreign businesses. And those are the only people that matter. 3 Link to comment Share on other sites More sharing options...
spidermike007 Posted December 2, 2022 Share Posted December 2, 2022 No doubt the top generals, and the other highly corrupt men in positions of leadership, are taking advantage to this and buying up villas, yachts, planes and helicopters around the world. I would guess that are surprised and pleased they have been able to hold onto power this long. 2 Link to comment Share on other sites More sharing options...
Autonuaq Posted December 2, 2022 Share Posted December 2, 2022 9 hours ago, new2here said: I don’t think it’s the baht getting stronger per se.. i think it’s more to do with how the market views the USD going forward. Given Chairman Powells’ comments I suspect the market sees the dollar at perhaps topping out as the signal seems to be smaller FOMC upticks of perhaps 50bp and not the much larger 75bps they’ve done. So, i suspect the THB/USD issue is more to do with movement in the USD than it is the relative strength or weakness of the THB itself Thai bath is also again other currency increasing in strength, which is a problem for a country that is depending on tourist from those areas of the currencies it it getting stronger against. When Thailand wants to become an importer it does make sense also to reform the total Thai economics and industry to reflect this and after than then Thaial can have a strong currency. now it is loosing more then it things it gains.. Link to comment Share on other sites More sharing options...
Metapod Posted December 2, 2022 Share Posted December 2, 2022 im missing 38 already 1 Link to comment Share on other sites More sharing options...
nigelforbes Posted December 2, 2022 Share Posted December 2, 2022 12 hours ago, ozimoron said: At a time when tourism looks to be the strongest pillar of the Thai economy it makes economic sense to maintain the value of the Baht at high levels. I did mention recently that Thailand runs a current account surplus and is one of several Asian countries bucking the worldwide trend into recession. https://tradingeconomics.com/thailand/current-account 1 Link to comment Share on other sites More sharing options...
IAMHERE Posted December 2, 2022 Share Posted December 2, 2022 I think I read a few months ago that the 'higher ups' thought that the baht should be at 35 to the dollar. 1 Link to comment Share on other sites More sharing options...
nigelforbes Posted December 2, 2022 Share Posted December 2, 2022 14 hours ago, Autonuaq said: Thai bath is also again other currency increasing in strength, which is a problem for a country that is depending on tourist from those areas of the currencies it it getting stronger against. When Thailand wants to become an importer it does make sense also to reform the total Thai economics and industry to reflect this and after than then Thaial can have a strong currency. now it is loosing more then it things it gains.. This is about USD movement, not THB rises or falls. Thailand is not dependent on tourism, Thailand is dependent on exports, of which, international tourism is one component at about 11% of GDP. (Yes, really, international tourism in an export in economics terms) And Thailand does not want to become an importer, that's the very last thing it wants. The Baht becomes strong because the current account remains in surplus. To accomplish that, Thailand needs to export more than it imports. 1 1 Link to comment Share on other sites More sharing options...
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