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


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Posted

Cool! 

 

I've been waiting 5 months for a new car to be built for me and am paying cash because Farang no have job in Thailand or is rice farmer, so the price has dropped by a few hundred $USD because of the falling exchange rate.

 

Sometimes it literally pays to wait. ????

  • Thumbs Up 1
Posted

If the Baht is plunging due to the political unrest, a few should start looking in the mirror. However, don't rush as the pound is buying more baht for which I am very grateful.

  • Like 2
Posted
4 hours ago, Jonathan Swift said:

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

Or it just means that tourists etc will get more for their money and therefore even not spend so much of their own currency ! 

Posted
Just now, mancub said:

Or it just means that tourists etc will get more for their money and therefore even not spend so much of their own currency ! 

Just another excuse for a round of price increases in the tourism sectors. 

  • Haha 2
Posted

No mention of the recent restructuring of exchange limits by the Central Bank. I think that may have a greater impact on long term rates, but I am no financial wiz!

Posted
1 hour ago, Mr Dome said:

I exchanged € at 38.35 last week, now it's at 38.80, so a rather small difference only. 

 

Was able to exchange $ twice last year when it hit 38.05 - don't think we'll see that again for quite some time (I hope I'm wrong).

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

Posted
14 minutes ago, thailand49 said:

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

The dollar rose to 38 for a couple of days, then a certain deputy PM wanted it back down to 35.

Posted

What a bunch of rubbish, there are lots of reasons why currencies fluctuate and sometimes a weak currency isn't a bad thing given Thailand tourism which just happens to be very much low season right now which is quite possibly one of the reasons the Baht is a little low. I would say when Pitas government takes power the Baht will strengthen given the positives of a non military government. 

Posted
6 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? 

Agree, suggest the writer provide some evidence/rationale for the written comments.

 

Politics in Thailand is complex as in many countries, what's not helping is very misleading comment from pseudo econmists/commentators (and perhaps it's deliberately misleading comment?)

 

If allowed, I repeat an earlier comment in this thread:

 

"The political unrest is not Pita's fault.

It is the fault of the crooks that are frightened that he will be PM.

They will do anything to stop him."

  • Like 1
Posted
1 hour ago, scorecard said:

Agree, suggest the writer provide some evidence/rationale for the written comments.

They don’t have to. Most people do not read past the headline, and the writers never suffer the consequences of their own ideology.

Posted

ever

2 hours ago, fulhamster said:

The dollar rose to 38 for a couple of days, then a certain deputy PM wanted it back down to 35.

Curious I ran through my Wise account for the year 2022,  I would take your word for it my records shows as you noted in between it might have hit 38 but I wasn't lucky enough to make transfers when it happened.

June 29 it was 36, In August of last year 17-31 it sat in the 36-1 range, Sept 11, it went to 37, on Oct 19, my record show it was pretty close to 38,  so thanks,  will we get that lucky before someone with the power to make it come down again.   I like it to hit 40 just for old time sake!

Posted

Yeah, I moved $5K at 34 last month, repeating to my contact sender "We can't time the market, all we can do is guess." Truer words never spoken...

Posted
4 hours ago, Mr Dome said:

 

 

Was able to exchange $ twice last year when it hit 38.05 - don't think we'll see that again for quite some time (I hope I'm wrong).

Yes you are because it is over 39 today already

Posted
2 hours ago, fulhamster said:

It didn't stop them announcing the new PM in the UK within a day or two.

Now it;s been 6 weeks in Thailand and the old guard are still squabbling

The delay is because the Election Commission has to check each and every result for cheating. Many dozens are still on the waiting list to be approved. Just shows what a banana republic Thailand is, despite having a few tall shiny buildings.

  • Like 2
Posted

I hope I'm wrong but it seems likely that 14 million Thais will be ignored and, effectively, cancelled by 250 non-elected senators appointed by those who brought about the latest coup. Shameful, but entirely predictable sad to say.

  • Like 2
Posted

What a load off whatever you like,

I just looked and 12 months ago it was 25.63 tot he AUS $

Today it is 23.58 to the AUS $  So 12 months ago it was Lower than then what it is for me Now 

I get paid with AU $ so that's what I look at . the USA $ doesn't mean Anything .

  • Haha 1
Posted
1 hour ago, Seppius said:

Just got 45.04 to the £ on Wise

Luck of the draw, twice yesterday it hit 45.25 before dropping back a bit.

All that can be said is we are nearly back to where we were about 2 years ago which can't be bad if we get the same sort of duration.

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