Thai gold price way up over the last two days also....

 

BOT joined the party at noon.

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

 

37 minutes ago, ExpatOilWorker said:

BOT joined the party at noon.

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

 

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!

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

 

 

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

18 hours ago, Phulublub said:

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

 

PH

What I do since years????

Edited September 22, 20232 yr by KhunBENQ

On 9/20/2023 at 1:40 PM, BenStark said:

10 years ago it was about 70, so what are all those people talking about.

 

Next

Next.

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:

 

USD/THB breached last weeks low

this morning. 36.36 currently. Probably based more on USD strategy vs. domestic news but still getting weaker. 

15 minutes ago, khunjake said:

USD/THB breached last weeks low

this morning. 36.36 currently. Probably based more on USD strategy vs. domestic news but still getting weaker. 

August trade data are due at 10:30 am local time. If it is more than $2 billion  in deficit, that could be the reason.

August trade surplus of $360 million. 

WOW!

 

37.14 today. PM quoted today encouraging weaker THB favoring exports and tourism. USD may top out soon against G10 currencies but Asian currencies should remain under pressure.