jumnien Posted July 10, 2007 Share Posted July 10, 2007 When my house in Los Angeles was worth $85k the baht was at 25. When it was worth 120k the baht was at 45. When it was worth 450k the baht was worth 34. I'm not sure the dollar and dollar denominated assets are really suffering a lack of purchasing power here in Thailand. There is quite a bit of inflation indeed; but this is happening the world over. I'm no Bush fan, but I do think it is kindler and gentler of him to be discouraging American citizens from moving abroad and making the inflation in foreign countries worse than it already is. It's not like any of us proper with hordes of Americans coming and buying up Thailand. The falling dollar weeds out a few Americans who come to Thailand just because it is cheap, not because they love Thais and Thailand. Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted July 10, 2007 Share Posted July 10, 2007 The way I see it, the question is what currency isn't appreciating against the greenback?For example, here's a snapshot of current mid-market rates: USD-THB: 31.6796 USD-GBP: 0.496343 USD-EUR: 0.733553 USD-JPY: 123.415 USD-CAD: 1.04588 USD-AUD: 1.16158 There's more than one 10++ year record there, so it's fair to say that we're seeing a dramatically failing US currency, not particular strength elsewhere. The $AUD to the $US is at an 18 year high as at today. Link to comment Share on other sites More sharing options...
jumnien Posted July 10, 2007 Share Posted July 10, 2007 Of course, the dollar is dropping a bit recently, that's the good news. The bad news is that the assets of Americans, including myself, is appreciating so fast that they have far more dollars to convert; and they do. This puts pressure on prices in Thailand and elsewhere as 'Merkins go out with their wad of cash to buy. Link to comment Share on other sites More sharing options...
Johpa Posted July 10, 2007 Share Posted July 10, 2007 Of course, the dollar is dropping a bit recently, that's the good news. The bad news is that the assets of Americans, including myself, is appreciating so fast that they have far more dollars to convert; and they do. This puts pressure on prices in Thailand and elsewhere as 'Merkins go out with their wad of cash to buy. The percentage of Americans whose assets are appreciating significantly is rather small, just as the number of Thais who are benefiting directly from a strong baat are similarly small. But in the end it is all one big pyramid scheme that slowly unfolds over decades with very few big winners and lots of very sore losers. In Thailand the winners tend to live in gated compounds. In the US they tend to migrate to gated communities where they will be able to share in the future security costs. Link to comment Share on other sites More sharing options...
saraburioz Posted July 10, 2007 Share Posted July 10, 2007 (edited) The way I see it, the question is what currency isn't appreciating against the greenback?For example, here's a snapshot of current mid-market rates: USD-THB: 31.6796 USD-GBP: 0.496343 USD-EUR: 0.733553 USD-JPY: 123.415 USD-CAD: 1.04588 USD-AUD: 1.16158 There's more than one 10++ year record there, so it's fair to say that we're seeing a dramatically failing US currency, not particular strength elsewhere. The $AUD to the $US is at an 18 year high as at today. Great for me! Weak $ - great for me too. I hope it gets to 20.Americans can onlyblame their own stupidity in electing that idiot. Edited July 10, 2007 by saraburioz Link to comment Share on other sites More sharing options...
koheesti Posted July 10, 2007 Share Posted July 10, 2007 The way I see it, the question is what currency isn't appreciating against the greenback?For example, here's a snapshot of current mid-market rates: USD-THB: 31.6796 USD-GBP: 0.496343 USD-EUR: 0.733553 USD-JPY: 123.415 USD-CAD: 1.04588 USD-AUD: 1.16158 There's more than one 10++ year record there, so it's fair to say that we're seeing a dramatically failing US currency, not particular strength elsewhere. The $AUD to the $US is at an 18 year high as at today. Great for me! Weak $ - great for me too. I hope it gets to 20.Americans can onlyblame their own stupidity in electing that idiot. As has been pointed out numerous times in this thread and backed up by facts, Americans back in America ARE NOT suffering because the dollar is weaker. Not by a long shot. American presidents aren't elected to make life cheaper for the tiny percentage of American expats. "Stupidity" is believing otherwise. Regardless of party, the candidate in 2008 who promises to take the dollar back to where it was in January 2002 gets my vote. Unfortunately, you won't hear any of the ~20 candidates today make that an issue. Link to comment Share on other sites More sharing options...
Jingthing Posted July 10, 2007 Share Posted July 10, 2007 (edited) The way I see it, the question is what currency isn't appreciating against the greenback?For example, here's a snapshot of current mid-market rates: USD-THB: 31.6796 USD-GBP: 0.496343 USD-EUR: 0.733553 USD-JPY: 123.415 USD-CAD: 1.04588 USD-AUD: 1.16158 There's more than one 10++ year record there, so it's fair to say that we're seeing a dramatically failing US currency, not particular strength elsewhere. The $AUD to the $US is at an 18 year high as at today. Great for me! Weak $ - great for me too. I hope it gets to 20.Americans can onlyblame their own stupidity in electing that idiot. As has been pointed out numerous times in this thread and backed up by facts, Americans back in America ARE NOT suffering because the dollar is weaker. Not by a long shot. American presidents aren't elected to make life cheaper for the tiny percentage of American expats. "Stupidity" is believing otherwise. Regardless of party, the candidate in 2008 who promises to take the dollar back to where it was in January 2002 gets my vote. Unfortunately, you won't hear any of the ~20 candidates today make that an issue. You aren't entirely correct. While I agree there are advantages to a weak currency, China wants one, Thailand wants one, there is a point at which currencies become too weak and ruin the living standard of middle class people. Before the currency collapse in Argentina, middle class Argentinians could vacation in Miami. After the crash, they couldn't, and they were pissed. Middle class Americans also enjoy overseas travel and imported products. Remember, as time goes by, Americans make less and less of what they consume. So far, no worries, as slave labor China is ready at our service. At the current weak dollar levels, not really an issue. But it could be. Is America the next Argentina? I don't think so, but they aren't as different as some cheerleaders think. A candidate for a stronger dollar would be a candidate serious about reducing the federal deficit. Edited July 10, 2007 by Jingthing Link to comment Share on other sites More sharing options...
koheesti Posted July 10, 2007 Share Posted July 10, 2007 The way I see it, the question is what currency isn't appreciating against the greenback?For example, here's a snapshot of current mid-market rates: USD-THB: 31.6796 USD-GBP: 0.496343 USD-EUR: 0.733553 USD-JPY: 123.415 USD-CAD: 1.04588 USD-AUD: 1.16158 There's more than one 10++ year record there, so it's fair to say that we're seeing a dramatically failing US currency, not particular strength elsewhere. The $AUD to the $US is at an 18 year high as at today. From the Sydney Morning Herald: Australia's trade deficit with the US hit $14.9 billion in the year to May, a 35 per cent jump from $11 billion when the Australia US Free Trade Agreement came into force on January 1, 2005. The surging Australian dollar has also contributed to the increased deficit with the United States. With the currency hovering around 18-year highs - it closed at US85.79c yesterday - this makes Australian exports more expensive for US consumers and the price of US imports cheaper. While local companies have been importing heavily to fuel construction in the mining sector, a general weakening in US consumption had affected Australian exporters to the US, Macquarie's Mr Redican said. --- If this is true for Australia, why not for Thailand also? Link to comment Share on other sites More sharing options...
Edonista Posted July 10, 2007 Share Posted July 10, 2007 There is nothing that BoT can do about that long term trend.. Should Tarisa call back the 30% deposit exemption on stock market you see what happens to both the SET ındex and the baht... Link to comment Share on other sites More sharing options...
Jingthing Posted July 10, 2007 Share Posted July 10, 2007 The US dollar is still holding strong against the Mexican Peso, the Argentinian Peso, and getting stronger against the Ethiopian Bir, among others I am sure. Link to comment Share on other sites More sharing options...
Jai Dee Posted July 10, 2007 Share Posted July 10, 2007 Govt to seek solutions concerning the strong baht The Thai National Shippers’ Council has urged the government to seek solutions concerning the strong baht. Chairman of the Thai National Shippers’ Council, Suchart Chanthranakharat (สุชาติ จันทรานาคราช) says the strong baht during the past 18 months has greatly affected the export sector. As a result, the government should have concrete measures to fix the baht at an appropriate rate, adding that the best exchange rate for the baht should remain at 39 baht per US dollar. Meanwhile, he suggests other companies to order machines from foreign countries during this time. In addition, the Thai National Shipper’s Council has asked for an adjustment of raw material payment, saying that it should be paid in US dollar. He remarks the measure will help reduce cost for exporters during the fluctuation of the baht. Source: Thai National News Bureau Public Relations Department - 10 July 2007 Link to comment Share on other sites More sharing options...
Mid Posted July 10, 2007 Share Posted July 10, 2007 Govt to seek solutions concerning the strong baht The Thai National Shippers’ Council has urged the government to seek solutions concerning the strong baht. excuse the interuption folks , it's time to boot the Nations editor again .........................( shakes head ) Link to comment Share on other sites More sharing options...
Carmine6 Posted July 10, 2007 Share Posted July 10, 2007 From the Sydney Morning Herald:Australia's trade deficit with the US hit $14.9 billion in the year to May, a 35 per cent jump from $11 billion when the Australia US Free Trade Agreement came into force on January 1, 2005. The surging Australian dollar has also contributed to the increased deficit with the United States. With the currency hovering around 18-year highs - it closed at US85.79c yesterday - this makes Australian exports more expensive for US consumers and the price of US imports cheaper. While local companies have been importing heavily to fuel construction in the mining sector, a general weakening in US consumption had affected Australian exporters to the US, Macquarie's Mr Redican said. --- If this is true for Australia, why not for Thailand also? Different products being exported. By the way, only 15% of Thai exports in 2006 went to the US. If you look at the US profile on the Australian website link I posted, here are "Major Australian Exports" in AUD$ mill Bovine meat 1,209 Alcoholic beverages 848 Meat (excl. bovine) 434 Medical instruments 399 My personal experience. The only known imported Australian products I have purchased are beer and a hat. In the last couple years I have purchased dishes that were made in Thailand, and several athletic shirts made in Thailand. These were from major department stores - Target and Macy's. Somewhere an electronic device I own was imported from Thailand, but can't remember what. The Thai products seem to be everyday products that were manufactured in Thailand. The Australian ones seem to rely on them being Australian as part of their appeal. Link to comment Share on other sites More sharing options...
LaoPo Posted July 10, 2007 Share Posted July 10, 2007 Govt to seek solutions concerning the strong baht The Thai National Shippers’ Council has urged the government to seek solutions concerning the strong baht. excuse the interuption folks , it's time to boot the Nations editor again .........................( shakes head ) Hmmm...don't know Mid; the outlooks are, at least, shaky. The positive news -versus- the not so positive news: "Thailand's ratings affirmed with stable outlook - S&P" July 10, 2007: 03:30 AM EST MUMBAI, Jul. 10, 2007 (AFX International Focus) -- Standard & Poor's (NYSE:MHP) Ratings Services affirmed its foreign currency 'BBB+/A-2' and local currency 'A/A-1' sovereign credit ratings on Thailand. The outlook is stable. 'Heightened policy uncertainties since 2006 and increasing risks to medium-term economic growth prospects have weakened support for the sovereign credit ratings on Thailand,' S&P said. 'Nevertheless, the Kingdom's net external creditor position, prudent fiscal management, and relatively light net government indebtedness are expected to maintain sovereign credit metrics at levels appropriate for its current ratings in the near term.' By the end of 2007, Thailand's external financial assets are expected to outsize external debt by close to 30 pct of current account receipts, S&P said. Meanwhile, fiscal discipline has helped keep net general government debt, expected to fall to 17 pct of GDP at the end of 2007, lower than in the 'BBB' median sovereign level. However, since late 2006, abrupt policy changes by the post-coup interim government have increased perceptions of country risk and dealt a serious blow to investor confidence. The resulting decline in capital spending is likely to persist into 2008 and will dent medium-term growth prospects for the economy, S&P observed. But this damage has been contained by expectations of a return to political normalcy by early 2008, as the coup leaders have promised to hold elections before this time. This promise has been crucial in preventing a large-scale pullout of long-term investors, S&P said. source: CNNMoney.com It's crucial that there will be no uprise about the new constitution AND the following elections....whenever they will be. LaoPo Link to comment Share on other sites More sharing options...
Bravo Mike Posted July 10, 2007 Share Posted July 10, 2007 Hello all, can someone point me to a web site that gives an exchange rate history for the last 10 years or so. Thanks Mike Link to comment Share on other sites More sharing options...
Payboy Posted July 10, 2007 Share Posted July 10, 2007 Hello all, can someone point me to a web site that gives an exchange rate history for the last 10 years or so. Thanks Mike click here bank of thailand Link to comment Share on other sites More sharing options...
Mid Posted July 10, 2007 Share Posted July 10, 2007 Hmmm...don't know Mid; the outlooks are, at least, shaky. The positive news -versus- the not so positive news: was taking exception to the headline in context with the story ........not . Link to comment Share on other sites More sharing options...
Mid Posted July 10, 2007 Share Posted July 10, 2007 Thai finance minister tells central bank to 'properly manage' rising baht 07.10.07, 8:20 AM ET BANGKOK (Thomson Finance) - Thailand's finance minister Tuesday ordered the central bank to 'properly manage' the baht's rapid rise against the dollar, but said the currency's gains should not affect the general economy.'I have instructed the central bank to properly manage the baht's rise, following huge capital inflow to Thailand, especially through stock investments,' Finance Minister Chalongphob Sussangkarn told reporters. Forbes.com Link to comment Share on other sites More sharing options...
LaoPo Posted July 10, 2007 Share Posted July 10, 2007 Thailand's exports to grow 12 per cent in 2007 BANGKOK, July 10 (TNA) - Despite a volatility in Forex due to the strengthening of the Thai baht currency, Thailand's exports in 2007 are projected to grow 12.1 per cent with earnings of about US$ 145.67 billion, according to an academic at the University of the Thai Chamber of Commerce. Aat Pisanwanich, director of the University's Center for International Trade Studies, said as the political situation in Thailand has become clearer, investment and tourism have improved, and it is forecast that 13.9 million foreign tourists will visit Thailand this year, less than the 14.8 million tourists projected by the Tourism Authority of Thailand. However, Thailand's current account this year is expected to rise to a surplus of US$7.73 billion, up from a surplus of US$3.24 billion in 2006, said Dr. Aat. The country is expected to realise a trade surplus of approximately US$7.37 billion in 2007. Dr. Aat said his Center has projected that the baht would move on average between Bt33.5-34.5 against the US dollar throughout 2007. The Bank of Thailand must effect measures to prevent major capital inflows and simultaneously encourage private business to invest in neighbouring countries such as Indochina and Myanmar to reduce the risk on the baht. (TNA)-E111 note: Anybody heard about the profits on this 12.1% exports-growth? Are they rising...or declining? Growth is good for Thailand, but I (almost) never read something about growth in profits....I'm curious. LaoPo Link to comment Share on other sites More sharing options...
tomchaam Posted July 10, 2007 Share Posted July 10, 2007 It may be time to go to the Phillipines or Laos or Cambodia and stop spending 1 million baht per year in LOS. When the Dems take control in Nov. 2008 the moves will be made to reduce the deficit and maybe by that time the terrible amount spent to fund the war in Iraq will be substantially reduced. Ike warned us and the USA to beware of the military industrial complex...and they are causing major financial problems in USA and Thailand. The USA had a minimal deficit in Clinton's adminstation and she/he may be back in the White House in another 18 months. Things swing and the baht will swing again towards 45 where it was a few years ago. My prediction is that by November of 2009 the baht will be at +40 to the US dollar. A major reason for the weakness of the US dollar against the baht is the tremendous inflow of foreign currency into Thailand. Just go to Hua Hin for an example...where in one subdivision, Palm Hills, there are 100 additional homes since the tsunami with an average price of 15 million baht. The Swedes, Norse, Finns, Danes and Dutch are retiring early and bringing their wealth to Thailand. This influx of foreign capital is causing the strength of the baht. But this will change and we will start swinging the other way before the baht hits 30 to the buck. Link to comment Share on other sites More sharing options...
Naam Posted July 10, 2007 Share Posted July 10, 2007 The US dollar is still holding strong against the Mexican Peso, the Argentinian Peso, and getting stronger against the Ethiopian Bir, among others I am sure. especially against the Zimbabwe Dollar Link to comment Share on other sites More sharing options...
LaoPo Posted July 10, 2007 Share Posted July 10, 2007 (edited) A major reason for the weakness of the US dollar against the baht is the tremendous inflow of foreign currency into Thailand. I do not agree. Sorry. Yes, there is large inflow of capital into Thailand's stock market*, the SET, now but it's peanuts in comparison to the movements, money wise, on the world markets but the inflow of $'s into Thailand does NOT influence the US$. It's maybe large by Thai standards, but Thailand is a small country, economically, on the world market. * due to the low P/E's and shares on the SET; large funds and investors are buying Thai stocks now and will walk away, once they've made their profits. Update: " The Thai baht reached a new 10-year high against the dollar, closing at 33.48-50 to the US dollar from Monday's close of 33.82-84. Against the euro, the Thai unit was at 45.58-80 from 46.10-30. Analysts said the Thai market closed at the highest level since December 1996, just before the central bank floated the baht on July 2, 1997, sparking the regional economic meltdown. 'The index went down in morning trade as investors were concerned over the Bank of Thailand's likely intervention to curb the baht's rise,' said Mayuree Chowvikran, a senior market analyst at Siam City Securities. 'But after the central bank chief tried to ease worries, the market picked up strongly and closed with significant volume traded,' she added. Central bank chief Tarisa Watanagase on Tuesday urged people not to panic over the rapidly rising baht, and said that the Thai unit is expected to ease in the second half of this year. Exports are likely to slow down in the second half, resulting in lower current account surplus,' Tarisa said. 'Consequently, we are confident the baht could weaken in the latter half.' source: Forbes LaoPo Edited July 10, 2007 by LaoPo Link to comment Share on other sites More sharing options...
macb Posted July 10, 2007 Share Posted July 10, 2007 I just got my email from Big News Network and the Thailand Central Bank quoted this today : http://sg.biz.yahoo.com/070710/1/49ql9.html Clcik on the link above to read Link to comment Share on other sites More sharing options...
Mid Posted July 10, 2007 Share Posted July 10, 2007 http://sg.biz.yahoo.com/070710/1/49ql9.html trust me , I'm a Dr ............... Link to comment Share on other sites More sharing options...
VegasVic Posted July 10, 2007 Share Posted July 10, 2007 http://sg.biz.yahoo.com/070710/1/49ql9.html trust me , I'm a Dr ............... Mid, You left out, "your check is in the mail" and my favorite "I am from the government and am here to help you"! : Link to comment Share on other sites More sharing options...
VegasVic Posted July 10, 2007 Share Posted July 10, 2007 The US dollar is still holding strong against the Mexican Peso, the Argentinian Peso, and getting stronger against the Ethiopian Bir, among others I am sure. especially against the Zimbabwe Dollar I am glad to add that the U.S. dollar has seemed to stop its slide against the Albanian Lek as well, maybe things are turning around for the dollar! Link to comment Share on other sites More sharing options...
Mid Posted July 10, 2007 Share Posted July 10, 2007 http://sg.biz.yahoo.com/070710/1/49ql9.html trust me , I'm a Dr ............... Mid, You left out, "your check is in the mail" and my favorite "I am from the government and am here to help you"! : Kop Khun Khup Arjan Link to comment Share on other sites More sharing options...
Jingthing Posted July 10, 2007 Share Posted July 10, 2007 (edited) The US dollar is still holding strong against the Mexican Peso, the Argentinian Peso, and getting stronger against the Ethiopian Bir, among others I am sure. especially against the Zimbabwe Dollar I am glad to add that the U.S. dollar has seemed to stop its slide against the Albanian Lek as well, maybe things are turning around for the dollar! Well, you can joke, but Mexico is still the most important foreign country for Americans. If the Mexican Peso was rising at the same rate as the baht, Americans might have to sneak in to Guadalajara to do landscaping, meat packing, field work, sex work, and cleaning jobs. Trust me, you don't want American workers doing those kinds of jobs, they can be such prima donnas. Edited July 10, 2007 by Jingthing Link to comment Share on other sites More sharing options...
VegasVic Posted July 10, 2007 Share Posted July 10, 2007 The US dollar is still holding strong against the Mexican Peso, the Argentinian Peso, and getting stronger against the Ethiopian Bir, among others I am sure. especially against the Zimbabwe Dollar I am glad to add that the U.S. dollar has seemed to stop its slide against the Albanian Lek as well, maybe things are turning around for the dollar! Well, you can joke, but Mexico is still the most important foreign country for Americans. If the Mexican Peso was rising at the same rate as the baht, Americans might have to sneak in to Guadalajara to do landscaping, meat packing, field work, sex work, and cleaning jobs. Trust me, you don't want American workers doing those kinds of jobs, they can be such prima donnas. Actually just the opposite would occur, if the mexican peso made a substantial increase against the U.S. dollar then millions of Americans would not spend there dollars down there to support the mexican economy and millions of illegal mexicans in the U.S. sending money back to their families in mexico would be sending back substantially less money(in peso terms) so this might be a very good thing for Americans as this along with the fence could help to slop illegal immigration! Link to comment Share on other sites More sharing options...
VegasVic Posted July 10, 2007 Share Posted July 10, 2007 http://sg.biz.yahoo.com/070710/1/49ql9.html trust me , I'm a Dr ............... Mid, You left out, "your check is in the mail" and my favorite "I am from the government and am here to help you"! : Kop Khun Khup Arjan Yin dee ma khrap! Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now