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Stampede out of THB?


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37 minutes ago, ExpatOilWorker said:

BOT joined the party at noon.

Would be interesting to know how much they spend defending the baht.

 

Screenshot_20230920_192446_Google.jpg

I love how the bottom part of a chart gets cut off so that minor changes in the top 1% of the chart look monstrous!

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Without $ flowing in in-mass for tourism and expats, Thailand is reliant on it's trade, and that needs to be in a surplus to imports.

 

Therefore if $ are going out (not $ itself at the individual level, but the inter-change mechanism) than coming in, the country won't be able to control the THB - $ rate.

 

As all debts are usually in EURODOLLAR, Corporate/Gov (ledger) they need physical $ capturing to pay down the debt or interest.

 

So Thailand's approach to this new tax system will leave them longing for $ (you transferring in Euro's etc) to give the central bank the $ to service the Corporate demand & Gov demand.

 

They will swiftly find themselves in a similar to most of the world, and armchair BRICS supporters will think Thailand trading with some countries in THB will be another win against the US Reserve Currency (its not) but in reality it will be because they don't get enough $ flow/velocity to service the EURODOLLAR commitments... FYI EURODOLLAR is the reserve currency, and that's just ledger based debts and liabilities, the $ is the mechanism for paying down the debts/interest.

 

So som-nom-na

 

 

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On 9/20/2023 at 9:52 AM, 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.

 

 

Use Wise and you get pretty much mid-market rate.

 

PH

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On 9/20/2023 at 9:52 AM, 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.

 

 

I just look at BkkBank, where my USD go ... any other site is a bit irrelevant:image.png.0278b3b6de40cae8c1e471a39ec2aa88.png

 

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