Baht falls to 7-month low as unease grows over chances of Pita Limjaroenrat being elected as PM

[fleccer]

Is Baht too low? Thai Baht is still too expensive 

[Chivas]

7 hours ago, sandyf said:

Dropped back below 45 today, looks like the fall in the baht has been postponed.

Purely down to Sterling weakening slightly against the USD on opposite side of the pairings

 

Dollar/Baht pretty static last 24 hours bouncing around 35.60

[BenStark]

The Kasikorn exchange rate page is on update 14 for today, so a lot of volatility in the baht going on

[Brickleberry]

This has very little to do with the political situation in my opinion.

 

I think Stark corporation's 100 billion baht loss on the SET, massive household debt, Chinese tourism slumps and large amounts of defaults in auto finance are more likely to be factors here.

[mogandave]

I think it hilarious that people (probably socialists) think someone is controlling the rate, 

[Mavideol]

14 hours ago, flyingtlger said:

Hope it falls to 40BT to the dollar.......  

x 2

[Mavideol]

13 hours ago, TheAppletons said:

Cost of fuel.  Oil/gas are imported so weaker baht translates into higher energy costs.

isn't Thailand an oil/gas producer   555

[scorecard]

36 minutes ago, mogandave said:

I think it hilarious that people (probably socialists) think someone is controlling the rate, 

Why would socialists think that?

Are you say socialist governments are authoritarian? Strange!

[LALes]

14 hours ago, Jonathan Swift said:

Why is this writer tying fluctuations in the exchange rate to the political squabbling? Nonsense. Rates rise and fall for many reasons, but petty local politics is not one of them. Not unless an all out revolution occurs. Does Joseph O'connor fancy himself an economist? What's his agenda? 

Apart from Covid, this election is THE major event of the last 8+ years since the last coup.  You can't just pooh pooh this off as a minor annoyance.

There will be a lot of eyes on Thailand next month to see if they can deliver a peaceful transfer of power.   The exchange rate is like the Vegas odds.

Sentiment is driving this.  Who knows which way it will go.

[ericthai]

16 hours ago, Jonathan Swift said:

Favorable exchange for the dollar means more dollars will be spent in Thailand, so what's the problem? 

Import costs go up!! That's the problem.  

[metisdead]

Off topic posts and replies about the US and UK election results have been removed.

[Yellowtail]

3 hours ago, scorecard said:

Why would socialists think that?

Because they are smarter than capitalists. 

3 hours ago, scorecard said:

Are you say socialist governments are authoritarian? Strange!

No, I said nothing of socialist governments. I think it is strange than you would make something like that up. You must be a socialist. yes? 

[kinyara]

Per the predictable script I'd expect the political situation will start to deteriorate from next week onwards as the obstacles to Pita's selection as PM have to formally materialise in line with the parliamentary timetable. Whether it's Pheu Thai, the Electoral Commission, the Constitutional Court or just the Senators it's going to happen. In light of that political/civil disobedience uncertainty I'd expect the baht to continue to weaken in the short term, the economy seems shaky at the moment even without the inevitable political strife.

[jacko45k]

12 hours ago, Mavideol said:

isn't Thailand an oil/gas producer   555

Yes, but a net consumer/ importer. 

[Mr Dome]

22 hours ago, thailand49 said:

When it comes to Dollars don't think it ever got that high last year 38, highest I remember was 36+

38.05 twice for $1 last October at Superrich - you can take that to the bank ????

[Skeptic7]

On 6/29/2023 at 4:28 AM, Jonathan Swift said:

Highest it's been in two years is 38

Not only in 2 years, but highest in 15+ years. 35-38THB/USD for my remaining years is just fine with me❗

[Enzian]

16 hours ago, Mavideol said:

isn't Thailand an oil/gas producer

The junta in Burma hopes not.

[thailand49]

3 hours ago, Mr Dome said:

38.05 twice for $1 last October at Superrich - you can take that to the bank ????

Thanks but you late I've already corrected myself try reading everything OK ????

[Mavideol]

15 hours ago, ericthai said:

Import costs go up!! That's the problem.  

effect and counter effect always happens, they have to do some math to decide which is more important  exp VS imp  555

[MrJ2U]

Just have the current Military junta admit there never going to cede power.

 

Perhaps that will please the markets. 

 

Obviously it's up to the 250 Junta hand selected mobsters who ultimately choose the next PM.

 

"A senator who has been publicly disparaging of the Move Forward Party is now saying that party leader Pita Limjaroenrat will never get enough support from the Senate to become Thailand’s next prime minister."

 

 

 

https://www.nationthailand.com/thailand/politics/40028938

 

 

[Mavideol]

7 minutes ago, MrJ2U said:

Just have the current Military junta admit there never going to cede power.

 

Perhaps that will please the markets. 

 

Obviously it's up to the 250 Junta hand selected mobsters who ultimately choose the next PM.

 

"A senator who has been publicly disparaging of the Move Forward Party is now saying that party leader Pita Limjaroenrat will never get enough support from the Senate to become Thailand’s next prime minister."

 

 

 

https://www.nationthailand.com/thailand/politics/40028938

 

 

if that's the case they should be preparing the barricades, I don't think people would accept his comments

[Mr Dome]

2 hours ago, thailand49 said:

Thanks but you late I've already corrected myself try reading everything OK ????

How about you look at the chart first next time, instead of going by memory and doubting someone who was factually correct all along? ????

 

Plus I only have my phone at the moment and the forum is rather unwieldy there.

[thailand49]

1 hour ago, Mr Dome said:

How about you look at the chart first next time, instead of going by memory and doubting someone who was factually correct all along? ????

 

Plus I only have my phone at the moment and the forum is rather unwieldy there.

Look Mr. Late?   I clearly responded without looking at the chart which by the way was not presented when I did. When it was pointed out I went back to my records of transfers then responded back to poster Thanks and listed some dates which is clearly something you don't know how to do instead of making excuse about your phone. Guess having a smart phone still doesn't help much for some people. 

Factual is when someone presents those facts it was pointed out not as fact but an opinion which being second guessed I look up and confirmed his opinion as being correct and factual. 

Your dribble coming in at the end not once but twice confirms what people around you already know. 

[morrobay]

19 hours ago, ericthai said:

Import costs go up!! That's the problem.  

Not my problem 

[mogandave]

21 hours ago, ericthai said:

Import costs go up!! That's the problem.  

Imported goods get more expensive. 

 

Exports get cheaper,

[MrJ2U]

7 hours ago, Mavideol said:

they should be preparing the barricades,

I believe the RTP already have barricades and other preparations ready for the announcement.

 

I believe most Thai's are just numb from this hooligan government.  Who wants to risk years in jail protesting when nothing ever changes. 

 

[morrobay]

10 hours ago, mogandave said:

Imported goods get more expensive. 

 

Exports get cheaper,

And tourism as well as all foreigners here are exporters. 

[Mr Dome]

17 hours ago, thailand49 said:

Look Mr. Late?   I clearly responded without looking at the chart which by the way was not presented when I did. When it was pointed out I went back to my records of transfers then responded back to poster Thanks and listed some dates which is clearly something you don't know how to do instead of making excuse about your phone. Guess having a smart phone still doesn't help much for some people. 

Factual is when someone presents those facts it was pointed out not as fact but an opinion which being second guessed I look up and confirmed his opinion as being correct and factual. 

Your dribble coming in at the end not once but twice confirms what people around you already know. 

Oh dear. It's always the fault of the others, isn't it?

[thailand49]

7 hours ago, Mr Dome said:

Oh dear. It's always the fault of the others, isn't it?

SMF,  is late again ???? what is it this time. Oh something smells check yourself. 

[h90]

11 hours ago, morrobay said:

And tourism as well as all foreigners here are exporters. 

recently when my parents came, the problem were not the prices in Thailand. The problem was that airplanes doubled the price.