Popular Post khunjake Posted September 20, 2023 Popular Post Share Posted September 20, 2023 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). 5 2 1 2 1 Link to comment Share on other sites More sharing options...
connda Posted September 20, 2023 Share Posted September 20, 2023 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. 1 1 Link to comment Share on other sites More sharing options...
connda Posted September 20, 2023 Share Posted September 20, 2023 I don't see a "stampede." Today's rates at BBK Bank. Link to comment Share on other sites More sharing options...
KhunBENQ Posted September 20, 2023 Share Posted September 20, 2023 Was surprised to see this in the morning: 2 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted September 20, 2023 Popular Post Share Posted September 20, 2023 (edited) 32 minutes ago, connda said: What online source are you using to obtain today's USD/THB exchange rate. Not being asked but I use: xe.com What you see are currency market rates not what you get at the exchange boot or with a (swift) transfer. But all rates are derived from that. Edited September 20, 2023 by KhunBENQ 4 1 Link to comment Share on other sites More sharing options...
KhunBENQ Posted September 20, 2023 Share Posted September 20, 2023 And it goes on. EUR/THB at 38.72 with a steep incline. 2 Link to comment Share on other sites More sharing options...
BenStark Posted September 20, 2023 Share Posted September 20, 2023 29 minutes ago, connda said: I don't see a "stampede." Today's rates at BBK Bank. Time to change bank 2 Link to comment Share on other sites More sharing options...
KhunBENQ Posted September 20, 2023 Share Posted September 20, 2023 2 minutes ago, BenStark said: Time to change bank Too steep for sleepy banks ???? but third update already at 9:50. Unusual. Link to comment Share on other sites More sharing options...
Popular Post khunjake Posted September 20, 2023 Author Popular Post Share Posted September 20, 2023 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 7 1 1 1 Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted September 20, 2023 Share Posted September 20, 2023 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. Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted September 20, 2023 Share Posted September 20, 2023 Maybe it is just a move prior to the FED rate decision just after midnight tonight. 1 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted September 20, 2023 Popular Post Share Posted September 20, 2023 (edited) Please accept: it's not just a USD move!. It's definitely a Baht weakness. EUR, GBP, CHF, CAD, AUD, NZD all up. The recent EUR interest rise of 0.25 did nothing! Edited September 20, 2023 by KhunBENQ 2 4 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted September 20, 2023 Popular Post Share Posted September 20, 2023 (edited) One day changes (11:28 AM): USD +1.43% EUR +1.38% CHF +1.39% GBP +1.50% CAD +1.62% AUD +1.67% NZD +1.76% Edited September 20, 2023 by KhunBENQ 1 2 2 Link to comment Share on other sites More sharing options...
Popular Post khunjake Posted September 20, 2023 Author Popular Post Share Posted September 20, 2023 1 hour ago, ExpatOilWorker said: 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. I believe the tax reform news that came out is the main trigger here while the catalyst for a major move lower has been building up for several months now. 2 1 Link to comment Share on other sites More sharing options...
BritManToo Posted September 20, 2023 Share Posted September 20, 2023 1 hour ago, KhunBENQ said: Not being asked but I use: xe.com What you see are currency market rates not what you get at the exchange boot or with a (swift) transfer. But all rates are derived from that. Currency market rates = exchange rate with Wise, XE, Revolut, etc. 2 Link to comment Share on other sites More sharing options...
Popular Post KhunBENQ Posted September 20, 2023 Popular Post Share Posted September 20, 2023 4 minutes ago, BritManToo said: Currency market rates = exchange rate with Wise, XE, Revolut, etc. Yes and WISE follows on the minute. 38.718 for the EUR right now. 3 Link to comment Share on other sites More sharing options...
Popular Post ExpatOilWorker Posted September 20, 2023 Popular Post Share Posted September 20, 2023 Hitting the news reel. The BOT might spring into action. https://www.nasdaq.com/articles/emerging-markets-thai-baht-falls-most-among-asian-currencies 1 1 2 Link to comment Share on other sites More sharing options...
Adumbration Posted September 20, 2023 Share Posted September 20, 2023 (edited) 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 September 20, 2023 by Adumbration 1 Link to comment Share on other sites More sharing options...
Adumbration Posted September 20, 2023 Share Posted September 20, 2023 23 minutes ago, ExpatOilWorker said: Hitting the news reel. The BOT might spring into action. https://www.nasdaq.com/articles/emerging-markets-thai-baht-falls-most-among-asian-currencies With what? Link to comment Share on other sites More sharing options...
Ben Zioner Posted September 20, 2023 Share Posted September 20, 2023 3 hours ago, KhunBENQ said: Was surprised to see this in the morning: So? This shows a one week, insignificant, dip in the value of the Euro against THB. 1 1 Link to comment Share on other sites More sharing options...
khunjake Posted September 20, 2023 Author Share Posted September 20, 2023 Yes, the BOT usually intervenes to contain volatility on daily movements by selling USD from reserves. It does not contain the weekly/monthly downtrend though. Any THB strength will get sold down. 1 1 Link to comment Share on other sites More sharing options...
Pouatchee Posted September 20, 2023 Share Posted September 20, 2023 3 hours ago, connda said: What online source are you using to obtain today's USD/THB exchange rate. his crystal ball... even if it were advertised at that exchange rate that is never the rate banks give us after skimming off the top 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 20, 2023 Share Posted September 20, 2023 Maybe start paying for things in dollars soon Link to comment Share on other sites More sharing options...
Chivas Posted September 20, 2023 Share Posted September 20, 2023 Its certainly weakening out against the benchmark USD but still well under what it was one year ago Link to comment Share on other sites More sharing options...
Eloquent pilgrim Posted September 20, 2023 Share Posted September 20, 2023 Only 44.71 Baht to the pound £ Sterling as I write; a month ago I got 45.10 so not any stampede that I can see. Link to comment Share on other sites More sharing options...
BenStark Posted September 20, 2023 Share Posted September 20, 2023 1 minute ago, Eloquent pilgrim said: Only 44.71 Baht to the pound £ Sterling as I write; a month ago I got 45.10 so not any stampede that I can see. 10 years ago it was about 70, so what are all those people talking about. Next 1 1 Link to comment Share on other sites More sharing options...
Nick Carter icp Posted September 20, 2023 Share Posted September 20, 2023 3 minutes ago, BenStark said: 10 years ago it was about 70, so what are all those people talking about. Next Tens years ago the Pound Baht exchange rate was 45 Baht to the Pound , same as it is today , last time it went to 70 was 15 years ago 1 Link to comment Share on other sites More sharing options...
Eloquent pilgrim Posted September 20, 2023 Share Posted September 20, 2023 20 minutes ago, BenStark said: 10 years ago it was about 70, so what are all those people talking about. Next What hat did you pull that number out of ? 10 years ago it was about 52, not 70 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 20, 2023 Share Posted September 20, 2023 38 minutes ago, Eloquent pilgrim said: Only 44.71 Baht to the pound £ Sterling as I write; a month ago I got 45.10 so not any stampede that I can see. Baht strengthened after it formed a government hence other currencies weakening Link to comment Share on other sites More sharing options...
billd766 Posted September 20, 2023 Share Posted September 20, 2023 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 Link to comment Share on other sites More sharing options...
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