Thai baht instability rises due to political unrest

[itsari]

1 hour ago, ftpjtm said:

The Chinese Yuan (or Indian Rupee) can never become dominant reserve currencies unless they are allowed to be freely bought and sold internationally. 

 

I don't see that ever happening in my lifetime, making the whole BRICS concept irrelevant. I BRICS currency can only be used for a limited amount of trade between members. As soon as one of them sees more currency flowing out of their borders than in they'll slam on the brakes negating any agreement they've made.

If you have grand children they will not see it happen either .

[crazykopite]

When I arrived here in 2005 I was getting 74 to the £ and everything was much cheaper now I’m getting 44/45 but prices have vastly increased having said Al that my lifestyle is far better here than in the U.K. even tho I have good pensions and get clobbered with U.K. tax at least at 72 years young I’m not having to stack shelves in any of the U.K. super stores indeed I’m just off to spend a couple of hours doing a spot of fishing  

[mikebell]

4 hours ago, pomchop said:

Well here's a prediction for you....hope these folks are spot on but won't hold my breath

 

https://longforecast.com/usd-to-bht-today-forecast

Wow - so very precise to the month & over a couple of years!  Is there one for the UKP?

[Mavideol]

1 hour ago, mfd101 said:

I hope all those Westerners praying for a lower baht are prepared for the consequent inflation in prices, particularly of things that Westerners love to buy.

beer and women  or is it women and beer  555

Edited August 18, 2023 by Mavideol

[Arthur Mullard]

4 hours ago, Skipalongcassidy said:

You mean like UK or USA... 555

Well Trump would certainly agree with that but then he's facing jail... plus all those gracious Remainers who lost the Brexit vote?

[Arthur Mullard]

26 minutes ago, crazykopite said:

When I arrived here in 2005 I was getting 74 to the £ and everything was much cheaper now I’m getting 44/45 but prices have vastly increased having said Al that my lifestyle is far better here than in the U.K. even tho I have good pensions and get clobbered with U.K. tax at least at 72 years young I’m not having to stack shelves in any of the U.K. super stores indeed I’m just off to spend a couple of hours doing a spot of fishing  

BTW.... have you seen those fish in the klong lately.... ????

[pomchop]

32 minutes ago, mikebell said:

Wow - so very precise to the month & over a couple of years!  Is there one for the UKP?

i foung this via google....fact is it is toooo precise to be believable...i would be happy it they can predict it to even baht much less 1/100 th of a baht...i guess it is all somehow computer or AI generated from various data points...

[lordgrinz]

20 minutes ago, pomchop said:

i foung this via google....fact is it is toooo precise to be believable...i would be happy it they can predict it to even baht much less 1/100 th of a baht...i guess it is all somehow computer or AI generated from various data points...

I don't know if they are linked to your site, but I prefer a few days out more than by month, so I use this one. Its close enough to make some choices on when to send some money over.

 

https://30rates.com/usd-to-thb-today-forecast-dollar-to-thai-baht

[Irish star]

6 hours ago, Bim Smith said:

In the long term hopefully Thailand's desire to join BRICS will see the demise of the greenback as the world's reserve currency in time. It's long overdue as the US neocons have weaponised there currency for decades. 

A Yuan Supporter lol

[vivananahuahin]

when the chinese economy catches a bad cold Thailand coughs and that is just the beginning  good luck for the new government.

[Eric Loh]

15 minutes ago, Irish star said:

A Yuan Supporter lol

Don't need to be a yuan supporter to know that trade in USD is highly volatile. Reason for Thailand and China to look at regulations to support the use of yuan-baht settlement. As it is now, there is a yuan-baht currency swap arrangement for trade and linvestment in local currencies. 

[Mike Yantis]

Thai Baht weakness has more to do with US Dollar strength than Thai political instability.  The US Dollar Index (DXY) has been on a tear since July 14; it is up more than 4.0% in a month!  USD/TBD was .0295 a month ago and is now .0281 which is -4.7%.

 

I guess Sethaput Suthiwartnarueput would say that extra -.7% is due to the political unrest.

[JohnHans]

Good for me, this means my UK Pension get to be worth more Bahts! 

[747man]

6 hours ago, RichardColeman said:

Forecast I am seeing is 46 or 45.85 baht to the pound end of this month. Let's hope the political chaos continues all year if that is the case 

NO Wucking Chance......Sorry about my Lisp.....555 !!

Edited August 18, 2023 by 747man
More Added

[747man]

14 minutes ago, JohnHans said:

Good for me, this means my UK Pension get to be worth more Bahts! 

NOT By Much Though......

[Irish star]

7 hours ago, Skipalongcassidy said:

You mean like UK or USA... 555

I guess your fluent in Chinese and Russian 

[Irish star]

1 hour ago, Eric Loh said:

Don't need to be a yuan supporter to know that trade in USD is highly volatile. Reason for Thailand and China to look at regulations to support the use of yuan-baht settlement. As it is now, there is a yuan-baht currency swap arrangement for trade and linvestment in local currencies. 

CCP is calling you for More Propaganda 

[Srikcir]

4 hours ago, ftpjtm said:

The Chinese Yuan (or Indian Rupee) can never become dominant reserve currencies unless they are allowed to be freely bought and sold internationally. 

 

I don't see that ever happening in my lifetime, making the whole BRICS concept irrelevant. I BRICS currency can only be used for a limited amount of trade between members. As soon as one of them sees more currency flowing out of their borders than in they'll slam on the brakes negating any agreement they've made.

The USD and Euro account for 74% of currency transactions as of June 2023. https://www.livemint.com

 

Remember that the "R" in BRIC stands for Russia. How is that working out for the ruble as an international currency that has, with its war with Ukraine, become Rubble.

[BadBouy]

3 hours ago, mfd101 said:

I hope all those Westerners praying for a lower baht are prepared for the consequent inflation in prices, particularly of things that Westerners love to buy.

If your living mostly off a western diet you are living in the wrong country.

[mfd101]

1 minute ago, BadBouy said:

If your living mostly off a western diet you are living in the wrong country.

Not me particularly. But I suggest than many of those who whine & grizzle about exchange rates are themselves consumers of products imported in to Thailand. And, judged by the whining that goes on, they don't make the connection between the 2.

[Eric Loh]

43 minutes ago, Irish star said:

CCP is calling you for More Propaganda 

A fact doesn't matter kind of guy in Thailand. 

[RafPinto]

Thai economy, especially tourism and real estate is heavily depending from China.

Be prepared, it will suffer heavily.
Chinese economy struggling heavily.

Evergrande and now Country Garden under water.

Growth of economy very slow.
Un-employment very high.

Thailand relies heavily on Chinese visitors and real estate buyers.
They won't come.

China will soon limit financial transactions.

You wanted the Chinese and now you get what you desired.

Russia as well: forget about the Russians. Rouble sinking like a stone.
Probably BOT increasing interest rate another 25 basis points but economy already struggling.

Banks are tightening their criterias. Business and private loans heavily limited.

 

Buckle up.

[PETERTHEEATER]

Replace the Governor of the BoT with the Head of TAT and  all forecasts will be rosy.????

[Kalasin Jo]

9 hours ago, shackleton said:

I think the problem with the pound is to the USA Dollar $1.27

Pre -Brexit $1.50 - $1.60

Post Brexit $1.35 -$1.40

Now $1.27 -?

 

As I see the GBP, first came the financial crisis in 2009. The GBP did not recover to pre crisis value. Then the 2016 brexit vote knocked another large chunk off. Again it has not recovered it's pre 2016 value 7 years on from that.

[strapper]

9 hours ago, pomchop said:

So ousting taksin with an illegal political coup in the middle of the night created a political mess? I would tend to blame a bunch of generals more for taking over power then refusing to give up that power and then rigging the system with 250 unelected senators so they can remain in power forever ...both instances disregarded the basic idea of honoring the votes of the thai people...got a problem with taksin?  Use the courts not tanks.

the courts are corrupt!

[Negita43]

China - Evergrande files for US Chapter 11

[HaoleBoy]

10 hours ago, pomchop said:

So ousting taksin with an illegal political coup in the middle of the night created a political mess? I would tend to blame a bunch of generals more for taking over power then refusing to give up that power and then rigging the system with 250 unelected senators so they can remain in power forever ...both instances disregarded the basic idea of honoring the votes of the thai people...got a problem with taksin?  Use the courts not tanks.

I never said anything about "ousting Thaksin".  The current political mess is largely due to Thaksin sticking his nose into Thai politics just so he can come back.  I knew nothing about Thaksin before but now see how he's a master manipulator from the outside!  Just as much as the junta Senators and the Elite!

[Bim Smith]

12 hours ago, praguecr said:

yeah sure. and what country should have the world reserve currency? China and the Yuan? Be careful what you ask for.

Beats having warmongering neocons that have overthrown over 80 countries leaders many of them democracies since 1947. The reserve currency hopefully will be the new one created by Brics that is backed by gold not the fake fiat dollar which is backed by nothing. 

[sabai-dee-man]

19 hours ago, crazykopite said:

When I arrived here in 2005 I was getting 74 to the £ and everything was much cheaper now I’m getting 44/45 but prices have vastly increased having said Al that my lifestyle is far better here than in the U.K. even tho I have good pensions and get clobbered with U.K. tax at least at 72 years young I’m not having to stack shelves in any of the U.K. super stores indeed I’m just off to spend a couple of hours doing a spot of fishing  

Oh, I remember that well. I arrived in 2000, and the Baht was around 65/1, and slowly and steadily dropping against the Pound. The best exchange rates just happened to coincide with my peak partying years! Almost ฿76/£1 in mid-2005, and you're right, things were substantially cheaper back then too. I spend about £15k over 6 months over the 22-23 winter. Thailand's certainly not cheap anymore.

[Kinok Farang]

On 8/18/2023 at 5:57 AM, BritScot said:

Closer that Thailand has been since Thaksin then stolen and then his sister and stolen and again stolen.

What?