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Stampede out of THB?


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38 minutes ago, khunjake said:

Seems like this latest tax news alongside doubts with the new cabinet is pushing the Baht past 36.15 at the moment.
 

Wouldn’t be surprised to see 38 by end of year. Surely the new govt wouldn’t mind a weak baht as it would boost exports/tourism and to come in line with neighboring countries which have substantially weaker rates against USD (MYR, IDR). 

What online source are you using to obtain today's USD/THB exchange rate.

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6 minutes ago, khunjake said:

Its not hard to figure out where the downfall comes from:

 

- corresponding CNY weakness

- strong USD

- newly proposed deficit spending by cabinet

- funds leaving thai stocks due to oversight issues ie stark

- tougher immigration policy, expats repatriating funds held. 
- tax reform

- low interest rates relative to USD/EUR/GBP

 

the list goes on & on, see ya’ll at 38, maybe even 40

Good points, but why today?

Balance of trade data is due for release September 26th, maybe someone leaked the numbers.

10 out of the past 12 months have been a deficit.

 

Screenshot_20230920_101754_Chrome.jpg

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OP you beat me to it.  I was going to start a THB is collapsing thread.  

 

The taxing of incoming remitances is not the real issue.  

 

They intend to tap into the vast sea of money transferred back to Thailand from little ghosts working in Korea, Taiwan, Israel, et al.  Little ghost are working illegally offshore (because of zero opportunities in Thailand) so they are out of their host countries tax systems.

 

They are broke and the money for the trough (and the 10K digital wallet giveaway) has to come from somewhere.

 

Edited by Adumbration
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5 hours ago, connda said:

What online source are you using to obtain today's USD/THB exchange rate.

KBank at 14:47 today. here are 2 for you.

 

     TRAVELLERS' CHEQUES    EXPORT SIGHT BILL    TELEX TRANSFER    BANK NOTES    TT&DRAFT T/CHEQUES    BANK NOTES     
 USD 1
USD : 1
35.89    35.89    35.99    34.98919    36.29    36.42656    
 USD 5-20
USD : 5-20
35.89    35.89    35.99    35.19661    36.29    36.42656    
 USD 50-100
USD : 50-100
35.89    35.89    35.99    35.71516    36.29    36.46113    

 

Bangkok Bank at 14:49 today

 

Currency    Description    Bank Notes
Buying Rates    Bank Notes
Selling Rates    Sight Bill
Buying Rates    TT
Buying Rates    Bill - DD - TT
Selling Rates
USD1    USD: 1-2    34.84    36.39            
USD5    USD: 5-20    35.19    36.39            
USD50    USD: 50-100    35.66    36.39    35.89    35.99    36.29

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