Thai Baht May Hit 30 To The Us Dollar

[chinthee]

And so begins Iran's first real confrontation with the US.

Are you kidding? Seems like the gov't that ousted the Shaw had a bit of a confrontational attitude towards the US....holding US citizens against their will....little things like that.....

I'm obviously being sarcastic. I meant that doing something like unilaterally trying to change the world standard petro-dollar into petro-yen or otherwise will be met with retribution of some sort.

[bkkandrew]

Back to OP...

Live rates at 2007.07.13 22:37:33 UTC

1.00 GBP = 2.03451 USD

United Kingdom Pounds United States Dollars

1 GBP = 2.03451 USD 1 USD = 0.491520 GBP

1.00 GBP = 62.0178 THB

United Kingdom Pounds Thailand Baht

1 GBP = 62.0178 THB 1 THB = 0.0161244 GBP

1.00 USD = 30.4830 THB

United States Dollars Thailand Baht

1 USD = 30.4830 THB 1 THB = 0.0328052 USD

Friday the 13th!!!

Source: xe.com

Those rates for the Baht are totally wrong, in fact outrageously wrong.

No, they are not wrong, they are simply the international, or otherwise known as, offshore rates. Thailand has insulated itself from the real money market rates by the exchange controls. This does not make the international (offshore) rates "wrong", let alone "totally wrong", or even "outrageously wrong".

Personally, I would not touch the offshore rates with a bargepole, but they are there and that is that.

Yes I agree they are genuinely quoted rates and never said otherwise, but misleading would be the better word I should have used. They are the SELLING rates for Thai Baht by Western rip off banks and organisations NOT just offshore as they are very similar to rates quoted by main stream banks in USA and Europe. Or even worse if you look at the UK web site currency trader I pointed out to you where there was that really outragious rip off rate of under 60 Baht per £. Now please just go to these "offshore" sources and ask them for their rate for buying Thai Baht back (Cash and TT) and I will be surprised if they are not near or over 70 baht for each £ for example. Folk then compare these rip off selling Baht rates that you quote here of 61 and 62 Baht per £ to the rate they got last year for maybe selling Baht back to a western bank like at 74 or 75 Baht per £ and say wow what a rise in the Baht (or a big fall in the £). As I said totally misleading and leads folk to making the wrong conclusions.

The ONLY fair comparison is as I said the MIDDLE rate, or at least you should use more honest banking sources like we get in Thailand. Always bank note rates (cash ) will be worse by a bit as it is more expensive to manage forex cash tills, but in Thailand you can buy Baht CASH today for about 66.5 per £ or 32.88 per US$ ($50 and $100 bills). Typically in Thailand the difference between buying and selling Bank Notes is about 2% - 2.5% with no commission charged, and this a fair and honest trading mark up, in most Western countries this difference in buy and sell rates is typically about 14% to 18%, sorry but that cannot be justified by any honest organisation, as I keep saying it is criminal and a scam, even 5% is way too high.

So here are the genuine rates today for BUYING BAHT Exchanging CASH (these will vary during the day but usually not by that much) and for transferring funds via the banking system and having the conversion carried out here (TT Rate) and shown in brackets. ALWAYS REMEMBER CHANGE YOUR CURRENCY TO BAHT HERE IN THAILAND ONLY, DO NOT HELP FUND THE WESTERN THIEVES

UK Pound - 66.49725 (67.385)

Euro - 45.2265 (45.60

US$($50 -$100 bills) - 32.88 (33.4)

Can $ - 31.03875 (31.58375)

Aud $ - 28.40750 (28.815)

But these are the onshore rates that require you to be here!

Also, noticed that the money market rate, did indeed go 29.95 to the USD

[Mid]

PM orders central bank to watch hedge funds, fearing attack on baht

Monday 16 July 2007 08:42:40 PM (GMT+7:00)

Prime Minister Surayud Chulanont asked the Finance Ministry and the Bank of Thailand to keep close watch on movements by hedge funds, fearing their hands in the currency appreciation.

The prime minister’s edict came during the meeting Monday among members of Finance and Banking Committee of the National Legislative Assembly, according to Mr Santi Wilassakdanont, president of the Federation of Thai Industries who also attended the meeting.

MCOT Public Company Limited

Edited July 16, 2007 by Mid

[LaoPo]

Thai Baht Climbs to Decade High, Passes 30 in Offshore Market

By Shanthy Nambiar

July 16 (Bloomberg) -- The Thai baht gained to the highest in almost a decade in the offshore and onshore markets, as global funds bought more of the nation's equities.

The currency rose 1.4 percent to 30.10 in the offshore market as of 4:38 p.m. in Bangkok, after reaching 29.90, the highest since August 1997, according to data compiled by Bloomberg. On the more heavily traded onshore market, the baht advanced 0.2 percent to 33.26 per dollar, its strongest close in that period.

Limits on foreign investors bringing money into the country imposed on Dec. 18 spawned an offshore exchange rate that has risen nearly three times faster than the official price of the baht. Thailand's benchmark stock index has surged to a 10-year high as the Bank of Thailand reduced interest rates four times to revive consumer spending, helping boost demand for the baht.

``I do think that the offshore activities may fuel pressure on the onshore market,'' said Suresh Ramanathan, regional rates and foreign-exchange strategist at CIMB Investment Bank in Kuala Lumpur. ``Loosening some more of the capital controls would allow the onshore market to price in strengthening of the baht based on the offshore rate.''

The baht offshore has gained 18.7 percent this year, the best-performer among 10 of the most-active currencies in Asia. It earlier rose as much as 2 percent to 29.90 offshore. Onshore it has risen 6.9 percent, Bloomberg data shows.

The central bank has attempted to halt the baht's appreciation onshore to protect exports, which account for 60 percent of the nation's gross domestic product.

``What we can do is try to stabilize the baht, curbing its fast fluctuations,'' Prime Minister Surayud Chulanont said today. ``The central bank has done its best'' and ``there is a team monitoring the baht movement every minute to prevent problems.''

Baht Shortage

Thailand started backtracking on the capital controls within 24 hours of imposing them. Equity investors were exempted on Dec. 19, after the stock index slumped 15 percent. Investors in bonds, mutual and property funds won a waiver in March. They now need to prove they have completely hedged to avoid profiting from baht gains.

The Bank of Thailand requires that investors who don't hedge put 30 percent of their funds in bank accounts subject to penalties if they withdraw cash within a year.

The Bank of Thailand on July 9 said it will allow overseas investors to renew their baht swap contracts with domestic banks to help narrow the difference between the onshore and offshore rates.

Shortage of Baht

``It is a liquidity issue,'' said Yen Ping Ho, a currency strategist at JPMorgan Chase & Co. in Singapore. ``With the imposition of the reserve requirement and capital controls by the Bank of Thailand, it totally segregated the onshore, offshore market. There is a shortage of Thai baht liquidity offshore.''

Foreign investors who have investments in Thailand must submit requests to the Bank of Thailand between today and August 17 for the swap, Suchart Sakkankosone, exchange control director at the central bank, said July 9. They must show in the requests that they held hedging contracts before Dec. 19.

``This should help improve liquidity in the offshore market'' and narrow the gap between the rates, Ho said. ``The catch is it will only take place after some time.''

Strong Flows

Thailand's benchmark SET Index of equities last week completed its longest stretch of weekly gains since Nov. 10, 2006. Overseas fund managers bought 10.4 billion baht ($311 million) more in Thai stocks than they sold last week, bringing inflows to 9 out of the last 10 days in July, according to stock exchange data.

Finance Minister Chalongphob Sussangkarn last week said the government will ease limits on how much Thais can invest abroad and boost domestic borrowing to alleviate pressure on the baht,

Bank of Thailand Governor Tarisa Watanagase late today said the bank will submit a proposal, including measures to curb currency fluctuations, to the Finance Ministry in ``one to two days.''

It will allow Thai individuals to deposit money in dollars, Tarisa said, without elaborating. Currently, Thais aren't allowed to hold dollar accounts.

Thailand's 10-year government bonds rose for a second day.

The yield on the 5 percent security due May 2017 fell 3.7 basis points, or 0.037 percentage point, to 4.563 percent at the 4 p.m. close in Bangkok, according to the Thai Bond Market Association. The price rose 0.29954, or 2.99 baht per 1,000 baht face amount, to 103.4457.

Policy makers, who cut the one-day bond repurchase to 3.5 percent in May, will meet on July 18.

From: Bloomberg

LaoPo

[esbobes]

We'll see 1997 all over again...

...should there be a sudden catalyst big enough to really shake things up. Like say, if the passage of time should catch up with a certain central figure. It's going to happen eventually. Just food for thought...someone else can clean the dishes...

Before it will be 40 to a Dollar.

We will see 15 to a dollar I just heard this from John Green he should known he knowns Geroge Bush.

[VegasVic]

PM orders central bank to watch hedge funds, fearing attack on baht

Monday 16 July 2007 08:42:40 PM (GMT+7:00)

Prime Minister Surayud Chulanont asked the Finance Ministry and the Bank of Thailand to keep close watch on movements by hedge funds, fearing their hands in the currency appreciation.

The prime minister’s edict came during the meeting Monday among members of Finance and Banking Committee of the National Legislative Assembly, according to Mr Santi Wilassakdanont, president of the Federation of Thai Industries who also attended the meeting.

MCOT Public Company Limited

So, P.M. Chulanont finally got the word that hedge funds have had a large impact on why the baht has been bid up to these lofty levels. You know of course that if the Hon. P.M. had just been reading thaivisa he could have found this out a long time ago, because there has been a certain poster here who has been warning about this for months now, lets see what was that posters name? Hmmm, oh yea vegasvic! Thailand is just a pawn in this game, sadly if the game continues much longer the export sector will be profoundly impacted. Well at least the governmenrt seems to understand the problem and who is causing it, I guess thats a start.

[MrSnrang]

Yep, for months my friend's dad in New York was talking about more and more hedge funds.

[Jai Dee]

MOF ready to accept public suggestions for control of Baht currency appreciation

The Minister of Finance reports that the government is ready to accept proposals to solve continuous appreciation of the Baht currency.

Minister of Finance Chalongpob Susangkarn (ฉลองภพ สุสังกร์การญจน์ ) reports that the government is open to public proposals and suggestions for solving the Thai Baht appreciation situation. Mr. Chalongpob said that suggestions would be implemented by the Bank of Thailand if they are considered feasible. Revisions to currency management strategies will also be necessary as the government's current policy is inadequate to controlling the Baht's fluctuation.

The Minister of Finance disagrees with proposals for a fixed currency exchange rate to be re-established in Thailand, as he views that such a system is outdated when compared with the floating currency exchange rate presently used by Thailand. Mr. Chalongpob said that proposals for large amounts of US dollar reserves to be procured by Thailand in order to weaken the Baht will be considered.

Source: Thai National News Bureau Public Relations Department - 17 July 2007

[Jai Dee]

PM urge all sectors to maintain Thai Baht's stability

The Prime Minister has urged all officials to maintain the Thai Baht's stability and to minimize possible detrimental effects on Thailand's import-export sectors.

Prime Minister Gen Surayud Chulanont reported on measures to minimize the effect of the Baht's steady appreciation by the government and the private sector. Gen Surayud affirms that both sectors must cooperate and exchange experiences in addressing the Baht's impact on business operators and employees. The Bank of Thailand will be the main supervisory organization tasked with this mission.

The Prime Minister revealed that foreign companies have so far maintained their manufacturing facilities in Thailand. Meanwhile the Minister of Finance and the Governor of the Bank of Thailand ahve both expressed their confidence that the Baht's appreciation will have little effect on the Thai economy.

Source: Thai National News Bureau Public Relations Department - 17 July 2007

[LaoPo]

MOF ready to accept public suggestions for control of Baht currency appreciation

The Minister of Finance reports that the government is ready to accept proposals to solve continuous appreciation of the Baht currency.

Minister of Finance Chalongpob Susangkarn (ฉลองภพ สุสังกร์การญจน์ ) reports that the government is open to public proposals and suggestions for solving the Thai Baht appreciation situation. Mr. Chalongpob said that suggestions would be implemented by the Bank of Thailand if they are considered feasible. Revisions to currency management strategies will also be necessary as the government's current policy is inadequate to controlling the Baht's fluctuation.

The Minister of Finance disagrees with proposals for a fixed currency exchange rate to be re-established in Thailand, as he views that such a system is outdated when compared with the floating currency exchange rate presently used by Thailand. Mr. Chalongpob said that proposals for large amounts of US dollar reserves to be procured by Thailand in order to weaken the Baht will be considered.

Source: Thai National News Bureau Public Relations Department - 17 July 2007

A Finance Minister..open to public proposals....to solve the Baht problem..?

OK Gents, start writing...

LaoPo

[backflip]

"I just heard this from John Green he should known he knowns Geroge Bush. "

It's hard to argue with that.

[Steely Dan]

PM orders central bank to watch hedge funds, fearing attack on baht

Monday 16 July 2007 08:42:40 PM (GMT+7:00)

Prime Minister Surayud Chulanont asked the Finance Ministry and the Bank of Thailand to keep close watch on movements by hedge funds, fearing their hands in the currency appreciation.

The prime minister’s edict came during the meeting Monday among members of Finance and Banking Committee of the National Legislative Assembly, according to Mr Santi Wilassakdanont, president of the Federation of Thai Industries who also attended the meeting.

MCOT Public Company Limited

I guess the PM should talk to Palm who would hand him a lollipop and state that hedge funds have no effect here.

[bendix]

"I just heard this from John Green he should known he knowns Geroge Bush. "

It's hard to argue with that.

55555555555

[cclub75]

And so begins Iran's first real confrontation with the US.

Absolutly.

And did you see that the US Senat voted (unanimously) a resolution that condemns Iran ?

Senators Lieberman, McCain, Kyl, Graham, and Coleman today introduced a bipartisan amendment to the Defense Authorization Act, confronting the government of the Islamic Republic of Iran over its proxy attacks on American soldiers in Iraq.

http://lieberman.senate.gov/newsroom/release.cfm?id=278654

http://www.lewrockwell.com/floyd/floyd79.html

[palm]

PM orders central bank to watch hedge funds, fearing attack on baht

Monday 16 July 2007 08:42:40 PM (GMT+7:00)

Prime Minister Surayud Chulanont asked the Finance Ministry and the Bank of Thailand to keep close watch on movements by hedge funds, fearing their hands in the currency appreciation.

The prime minister’s edict came during the meeting Monday among members of Finance and Banking Committee of the National Legislative Assembly, according to Mr Santi Wilassakdanont, president of the Federation of Thai Industries who also attended the meeting.

MCOT Public Company Limited

I guess the PM should talk to Palm who would hand him a lollipop and state that hedge funds have no effect here.

As the baht gets ever stronger, its interesting to see all of those with such piss-poor finances squeal like little girls.

Just let me know when the Baht is going to fall to 40 or 50 baht to the $, as I've another $200,000+ I'd like to invest into a personal project in Thailand and I am currently holding in sterling.

No wonder anyone who uses the financial advice of some of the posters on TV don't have a pot to piss in. Last time it was Harmonica raving on about how the baht would now be at 50 to the $; and how oil would be at $15 a barrel on the world markets.

If the baht gets stronger you squeal that Thailand's end is near; if it falls through the floor; you'll do the same. Sorry to hear some of you guys really are living such an unpleasant lifestyle over here; but when you live in a foreign country where your income is derived in other currencies, you need to realise that currency swings are a fact of life. I wonder if the baht gets much stronger, which ones of you won't be able to afford your internet fees any more?

Edited July 17, 2007 by palm

[midas]

And so begins Iran's first real confrontation with the US.

Absolutly.

And did you see that the US Senat voted (unanimously) a resolution that condemns Iran ?

Senators Lieberman, McCain, Kyl, Graham, and Coleman today introduced a bipartisan amendment to the Defense Authorization Act, confronting the government of the Islamic Republic of Iran over its proxy attacks on American soldiers in Iraq.

http://lieberman.senate.gov/newsroom/release.cfm?id=278654

http://www.lewrockwell.com/floyd/floyd79.html

And did you also see vice president Dick Chenney has successfully persuaded George Bush too launch a pre-emptive

strike against a large number of Iranian missiles which were picked up on satellite last week aimed at Israel ?

No definite timeframe just sometime before the end of his term - let us face it he has nothing to lose ?

It seems to be getting closer everyday......................... Can any Americans on TV comment on whether

Bush as Commander-in-Chief can sanction this without approval or could the Congress or Senate stop him ?

To me Dick Chenney seems most dangerous guy of all ?

[Sir Burr]

Last time it was Harmonica raving on about how the baht would now be at 50 to the $; and how oil would be at $15 a barrel on the world markets.

Yeah, I remember him, the TV self-appointed financial guru. Don't see him posting anymore. Either embarassment, or, he can't afford his internet fees

Edited July 17, 2007 by Sir Burr

[PeaceBlondie]

I'll reply to the last comment, and then prior ones. The President of the USA can do almost anything he wishes to as commander in chief, including destruction of Iranian missiles aimed at Israel. However, he can pick up the phone and tell the Israelis to do that themselves.

If it's true that Iran is requesting payment of yen to send petroleum to Japan, that is the first shot across the bow of the U.S.S. Petrodollar, and the financial admirals will be busy doing something in retaliation.

This morning my Thai boyfriend, who never has lunch with George Soros, advised me to take 25K out of my American bank account today, rather than two weeks from now. But the PM of this tiny country sounds spooked, so I think I'll wait for further withdrawals.

This is not the week of certainty in Thai economics.

[cclub75]

``What we can do is try to stabilize the baht, curbing its fast fluctuations,'' Prime Minister Surayud Chulanont said today. ``The central bank has done its best'' and ``there is a team monitoring the baht movement every minute to prevent problems.''

Poor Surayud. Must be painfull to know how powerless is he... There is a "team" that "monitors" the situation. Impressive.

[

Bank of Thailand Governor Tarisa Watanagase late today said the bank will submit a proposal, including measures to curb currency fluctuations, to the Finance Ministry in ``one to two days.''

It will allow Thai individuals to deposit money in dollars, Tarisa said, without elaborating. Currently, Thais aren't allowed to hold dollar accounts.

Another brillant idea, as brillant as a water gun for children.

Let's put it this way.

-Thai who have money, have already USD accounts abroad (HK, Singapore, etc.).

-Thai who don't have money... well no need to draw you a picture.

But anyway, in BOT we trust. Everything is going to be okay. And don't forget, soon we will have general elections. It will solve the THB problem too for sure

[LaoPo]

Last time it was Harmonica raving on about how the baht would now be at 50 to the $; and how oil would be at $15 a barrel on the world markets.

Yeah, I remember him, the TV self-appointed financial guru. Don't see him posting anymore. Either embarassment, or, he can't afford his internet fees

Harmonica: "Last Seen: 2006-05-17 17:24:28" that's more than a year now.

He was the hot spice in the stocks/gold/future market soup on TV.

Wonder what happened to him; maybe he's RIP...who knows?

LaoPo

[Jai Dee]

BoT chief reiterates bank won’t adopt fixed exchange rate

Bank of Thailand governor Tarisa Watanagase on Monday reiterated the central bank would not return to a fixed exchange rate as some have suggested.

She said it was impossible for the bank to accept the proposed change from the managed float rate to the fixed exchange rate.

“I have repeatedly said we will not return to use the fixed exchange rate as in the past," Mrs. Tarisa said emphatically. "Now, I want to repeat our intention again.”

The central bank had done its best to supervise the baht value all along, she said.

The Bank of Thailand, she said, had discussed ways to ease impact of the sharp baht appreciation with many parties concerned, including academics late June and the Federation of Thai Industries and the Thai Chamber of Commerce earlier this month.

Asked about doubts by some parties that the central bank’s supervision of the baht appeared to be untimely, she said the bank had performed its duty to the utmost and there is nothing wrong under the current situation.

The unit has appreciated by seven per cent since the beginning of this year, following a 12 per cent gain last year.

In addition, the central bank chief said measures to ease foreign exchange regulation will be announced in the next few days to ease pressure on the baht.

The central bank is consulting various stakeholders including the Finance Ministry, exporters and academics on how best to allow for capital outflow towards offshore investment.

Mrs. Tarisa said this range of measures will be multi-faceted.

The governor is adamant that the bank is trying its best to tend to the currency situation and she urged investors not to panic.

Source: TNA - 17 July 2007

[Jai Dee]

BoT urged to cut repo sharply to ease baht rise

The Bank of Thailand should reduce the policy interest rate by 1-1.5 per cent as part of its efforts to rein in the continued baht appreciation, according to former finance minister Veerapong Ramangkul.

Speaking at the 1st Exim Forum on “Baht Crisis: Problems and Solutions,” he said the central bank should come up with measures to intervene in the baht movement to prevent further losses from the currency appreciation.

Included are an issuance of bonds to absorb liquidity, reduction of the short-term repurchase rate by 1-1.5 per cent, acceleration of repayment of debts incurred by the public and private sectors, and speeding up of implementation of mega-projects.

In addition, the central bank should set a target to keep the baht movement in a range of 35-36 to the US dollar.

He said the current situation on the baht surge had already reached a crisis because many export-oriented industries could not survive.

If the problem continued unabated, it would affect the farm sector and cause financial institutions to incur more non-performing loans.

He said the problem had escalated into such a level that Prime Minister Surayud Chulanont needs to pool efforts by state agencies concerned to solve it urgently.

He viewed the 30 per cent reserve requirement and other measures issued earlier by the central banks are not sufficiently effective to cope with the currency volatility.

Source: TNA - 17 July 2007

[BlissfullyIgnorant]

Back on the subject..

Has anyone else noticed the increased spread between foreign mid-market rates and domestic sell rates in the past few days?

On my reckoning, the local sell rate has been sitting a little bit under +8% above the intl mid-market rate for the last few months, but this afternoon it's now a little over +10%. Not complaining or anything

Evidence of manipulations by the BOT?

[Jai Dee]

The Cabinet urges agencies to control the fluctuation of baht currency

The Cabinet has urged related agencies to control the fluctuation of baht currency after businesses, especially export sector, have been seriously affected.

The Cabinet has expressed concerns over the appreciation of the baht and has assigned relevant agencies to follow up on the situation closely. As for the possibility to issue bonds to mobilize capital, Finance Ministry stated that its does not have such policies.

Meanwhile, Finance Minister Chalongpob Susangkarn (ฉลองภพ สุสังกร์การญจน์) believes that the economic crisis will not take place like what had happened during the 1997 economic flop.

Source: Thai National News Bureau Public Relations Department - 17 July 2007

[Mid]

The Cabinet has urged related agencies to control the fluctuation of baht currency after businesses, especially export sector, have been seriously affected.

jeeze the PM's quote about no effect on the economy is less than 24hrs old .................................................

[joeuk1]

Any updtaes on what exchange rates are Sterling to Baht is today in the high st banks in Thailand .

JB

[koheesti]

PM orders central bank to watch hedge funds, fearing attack on baht

Monday 16 July 2007 08:42:40 PM (GMT+7:00)

Prime Minister Surayud Chulanont asked the Finance Ministry and the Bank of Thailand to keep close watch on movements by hedge funds, fearing their hands in the currency appreciation.

The prime minister's edict came during the meeting Monday among members of Finance and Banking Committee of the National Legislative Assembly, according to Mr Santi Wilassakdanont, president of the Federation of Thai Industries who also attended the meeting.

MCOT Public Company Limited

I guess the PM should talk to Palm who would hand him a lollipop and state that hedge funds have no effect here.

As the baht gets ever stronger, its interesting to see all of those with such piss-poor finances squeal like little girls.

It's not only them. What about the guy with a great job getting paid dollars?

[LaoPo]

Economists Split on Whether Thailand Will Keep Rate Unchanged

By Anuchit Nguyen and Michael Munoz

July 17 (Bloomberg) -- Economists are divided over whether Thailand's central bank will keep its benchmark interest rate unchanged for the first time this year following four consecutive cuts.

Excerpt:

"Some economists, including Prakash Sakpal of ING Bank NV in Singapore, see room for the central bank to reduce rates for a fifth time this year at tomorrow's meeting."

http://www.bloomberg.com/apps/news?pid=206...&refer=asia

LaoPo

[Ricardo]

Nice to see that domestic interest-rate cuts , as I had suggested a few months ago, are still on-the-agenda for the BoT in attempting to reduce the effect of the surge in the strength of the Baht.

I would now propose that Immigration be instructed to immediately reduce the Baht-in-the-Bank requirements, for all farangs on marriage & retirement extensions to O-A visas, to generate a one-off reduction in demand for Baht. At say 100,000 (guess) farangs affected, then a one-off reduction of (say) B200,000 each would generate, over the next 12 months, a B20 billion reduction in demand, as we would not need to bring so much into the country.

OK at an economic-level this is peanuts, but every little helps, and we foreign guests could sure use the relief too - it is a win-win situation !

A cut in the excise-duty on Chang would also be welcome.

Any other ideas, for how the Thai government can act, to ease the upwards pressure on the Baht ?

[Martin]

It seems to me that large inter-currency rate fluctuations are inevitable in a situation where there is a loss of faith in what was the world's reserve currency.

We debated this last year in "Get out of $dollars$ now". It is a grim situation that the US dollar is falling by the wayside, since the US economy, as it is, is unsustainable; but there is no clear alternative.

The main thing is for the Government not to throw good money after bad in response to the cries of pain from one portion of the 'economic players' or another. The ship must be steered to ride the waves, not to try defying them.