Here we go again BHT getting stronger

[parafareno]

it was 37 to 1 eur, not it is 35.9 to 1 eur....

I think it is going back down to 33 per euro soon....

is this because the tourism is back in full swing?

[CharlieH]

Banking forum MOVED

[Kwasaki]

Well it's another of making money so i would yes they don't want to give the real worth of foriengners money. 

[Chivas]

Entirely down to the returning strength of the Baht against the USD on one side of the pairings (unless you hold USD from outset)

 

Sod all to do with the Euro Sterling AUD etc etc

 

Nothing to do with Jimmy foreigner or tourists or any other shight spouted on here either

 

Looks to me (certainly in part) that the Thai Central Bank are using Foreign Currency reserves to buy the Baht on Forex markets for their own reasons......with the amount of FCR they hold they can do it should they choose for decades

 

(edited in its currently just 33.44 which FIVE Baht stronger than we it was just a few months ago)

Edited January 10, 2023 by Chivas

[1FinickyOne]

Ahhhh, the ups and downs of things that always go up and down... mark that down as some things never change because they always change... way to predictable. 

[Delight]

 Suspect that the Thai government has instigated this move.

Their motive -keep imports of oil as cheap as possible -i .e .keep the Thai subjects happy.

 

If so it is a reasonable move.

Obviously Thai exports may suffer.