The Thai baht has plummeted to its lowest level against the USD since November last year, driven by concerns of ‘stagflation’ in countries that heavily rely on energy imports. That includes Thailand.

 

The baht experienced its second consecutive day of declines against the USD, falling by 0.6% and reaching its lowest point since November 10, 2022. As of this afternoon, the baht is valued at 36.2 per US dollar. Experts opine that the swift depreciation was influenced by the surge in oil prices, which have risen by approximately 10% this month.

 

Poon Panichpibool, a market strategist at Krungthai Bank, says that the soaring oil prices have led some commodity-related players to purchase dollars.

 

By Peter Roche

 

Full story: Phuket GO 2023-09-20

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

when I saw the title I thought it had reached 40 baht to 1 USD.... it's just a 0.6% fall  to the dollar nothing (yet) to "plummet" about, if and when it reaches 38-39 then it's a different story 555

Edited September 20, 20232 yr by Mavideol

I thought they buy from Russia cheap oil?

 

Maybe it has something do do with a tax paper?

Edited September 20, 20232 yr by Tom H

4 minutes ago, Mavideol said:

when I saw the title I thought it had reached 40 baht to 1 USD.... it's just a 0.6% fall  to the dollar nothing (yet) to "plummet" about, if and when it reaches 38-39 then it's a different story 555

Media hype. 0.6% 5555

Noticed it hasn't budged much at all against other prominent currencies of the last several months up to a year.....yet, the U.S. Dollar is showing decline in the same period as it is today - which of course, creates these seemingly false currency fluctuations. It's all manipulated in one manner or another. Part of the dumbed down sleight-of-hand show that we easily accept......and truly has nothing to do with anything [fabricated currency exchange ratings].

 

What we should be paying attention to is the growing influence of BRICS and the ever present and real downgrading of the U.S. Dollar as a standard currency reserve the world over......all of which is being fast degraded as we speak. Things are changing quickly to the detriment of the traditional Western/Anglophone influence....perhaps for the betterment of the real world. 

 

Wouldn't surprise me at all if Thailand and major SE Asian players are integrated into BRICS by the next official gathering of this prestigious body. 

21 minutes ago, zzaa09 said:

Noticed it hasn't budged much at all against other prominent currencies of the last several months up to a year.....yet, the U.S. Dollar is showing decline in the same period as it is today - which of course, creates these seemingly false currency fluctuations. It's all manipulated in one manner or another. Part of the dumbed down sleight-of-hand show that we easily accept......and truly has nothing to do with anything [fabricated currency exchange ratings].

 

What we should be paying attention to is the growing influence of BRICS and the ever present and real downgrading of the U.S. Dollar as a standard currency reserve the world over......all of which is being fast degraded as we speak. Things are changing quickly to the detriment of the traditional Western/Anglophone influence....perhaps for the betterment of the real world. 

 

Wouldn't surprise me at all if Thailand and major SE Asian players are integrated into BRICS by the next official gathering of this prestigious body. 

"prestigious body?" This is a joke, right? BRICS includes communist Russia and China, far left wing Brazil and basket case South Africa. The U.S. dollars is doing just fine and most of the BRICS countries are in decline.

 

https://fred.stlouisfed.org/series/RTWEXBGS

 

 

Today I plummeted down one stair.

47 minutes ago, zzaa09 said:

Noticed it hasn't budged much at all against other prominent currencies of the last several months up to a year.....yet, the U.S. Dollar is showing decline in the same period as it is today - which of course, creates these seemingly false currency fluctuations. It's all manipulated in one manner or another. Part of the dumbed down sleight-of-hand show that we easily accept......and truly has nothing to do with anything [fabricated currency exchange ratings].

 

What we should be paying attention to is the growing influence of BRICS and the ever present and real downgrading of the U.S. Dollar as a standard currency reserve the world over......all of which is being fast degraded as we speak. Things are changing quickly to the detriment of the traditional Western/Anglophone influence....perhaps for the betterment of the real world. 

 

Wouldn't surprise me at all if Thailand and major SE Asian players are integrated into BRICS by the next official gathering of this prestigious body. 

Hate America much?

9 minutes ago, dinsdale said:

Today I plummeted down one stair.

0.6 of a stair

58 minutes ago, zzaa09 said:

Noticed it hasn't budged much at all against other prominent currencies of the last several months up to a year.....yet, the U.S. Dollar is showing decline in the same period as it is today - which of course, creates these seemingly false currency fluctuations. It's all manipulated in one manner or another. Part of the dumbed down sleight-of-hand show that we easily accept......and truly has nothing to do with anything [fabricated currency exchange ratings].

 

What we should be paying attention to is the growing influence of BRICS and the ever present and real downgrading of the U.S. Dollar as a standard currency reserve the world over......all of which is being fast degraded as we speak. Things are changing quickly to the detriment of the traditional Western/Anglophone influence....perhaps for the betterment of the real world. 

 

Wouldn't surprise me at all if Thailand and major SE Asian players are integrated into BRICS by the next official gathering of this prestigious body. 

Not sure if we reside on the same planet, maybe not even in the same Universe.

 

On my planet the dollar has been moving from strength to strength against most currencies, and the BRICS have been laid bare for being unable to be leaders in any way. russia made no friends invading Ukraine and putin's manner of dealing with those who disagree with him (pushed out of windows, aircraft shot down, poisoned with polonium or novichok, etc., plus russia's brain drain is greatly jeopardizing any future it might have had. India is becoming an Apartheid State under the Hindu Nationalists and Modi, and is now suspected of of ordering the murder of a Sikh critic in Canada. Brazil, as the joke goes, is the country of tomorrow---and always will be, while China may well implode under massive debt and an entire economy based on false asset prices.

 

The US may well be loaded with debt, but so long as trump doesn't somehow get the WH again, the US strength is rule of law and ease of entry/exit of massive amounts of capital.

 

As for 'false fluctuations' in currencies...let me guess---you never worked as a currency trader in a major bank. Had you done so, you would know how foolish such conspiracy theories are.

Edited September 20, 20232 yr by Walker88

A little over a month ago oil was trading at ~$78/bbl. Today it is over $90/bbl.

 

A .6% drop in the baht is within line. Buyers of oil might try to wait for a better price if unhedged, but a major hedge, or price reaching an 'uncle' point, can easily move a spot rate .6% in a day.

 

Yes, not quite a plummet, but it gets one's attention.

Another reason you wouldn't want to put your money in Thai baht like for a retirement visa. Currency devaluation.

15 minutes ago, Don Chance said:

Another reason you wouldn't want to put your money in Thai baht like for a retirement visa. Currency devaluation.

Not having any money would be an even better reason...

2 hours ago, Mavideol said:

when I saw the title I thought it had reached 40 baht to 1 USD.... it's just a 0.6% fall  to the dollar nothing (yet) to "plummet" about, if and when it reaches 38-39 then it's a different story 555

Yep, still waiting for it to get back to 40, where it was when I first got here.  Or better, 40-45 when building 1st house and getting 1st car.

 

Add low exchange rate to silly inflation, and those years of -0- COLA and the $$$$ just doesn't buy what it used to.

 

Those thinking about retiring, do plan on 50% less buying power in a few years, if not more.  If it happens, you're ready, if it doesn't, enjoy the extra.

 

Remember, not having a plan ...

... is a plan to fail.

Edited September 20, 20232 yr by KhunLA

Plummet is what the pound did after Brexit a lost satang is not oblivion ????

Once Thailand joins BRICS and carries out it's much needed dump of the dollar by 2026 then it's the dollar that will be worthless. 

It will bounce back.

I'm very happy with the swiss franc been at 39 to 

Yawn. Wake me when there's some real news. Like if it hits 38 B/1$ like last year. But what goes up comes down and vice versa. So what's inevitable is inevitable.

10 hours ago, dinsdale said:

Today I plummeted down one stair.

Top or bottom?

I just got back for LA.  Gas was $6 a gallon..  The only good news I have had in weeks is the Baht going over 35. 

11 hours ago, Mavideol said:

when I saw the title I thought it had reached 40 baht to 1 USD.... it's just a 0.6% fall  to the dollar nothing (yet) to "plummet" about, if and when it reaches 38-39 then it's a different story 555

I agree, 36 isn't squat.  38-39-40, now your talking.  

Keep on dropping big "B".  I may come for my 180 day visit...

Ohhh, and hurry up and get the 90 day tourist visa taken care of.

Over and out, and Thanks heaps..

11 hours ago, zzaa09 said:

Noticed it hasn't budged much at all against other prominent currencies of the last several months up to a year.....yet, the U.S. Dollar is showing decline in the same period as it is today - which of course, creates these seemingly false currency fluctuations. It's all manipulated in one manner or another. Part of the dumbed down sleight-of-hand show that we easily accept......and truly has nothing to do with anything [fabricated currency exchange ratings].

 

What we should be paying attention to is the growing influence of BRICS and the ever present and real downgrading of the U.S. Dollar as a standard currency reserve the world over......all of which is being fast degraded as we speak. Things are changing quickly to the detriment of the traditional Western/Anglophone influence....perhaps for the betterment of the real world. 

 

Wouldn't surprise me at all if Thailand and major SE Asian players are integrated into BRICS by the next official gathering of this prestigious body. 

It's down against the Euro as well

1 hour ago, Bim Smith said:

Once Thailand joins BRICS and carries out it's much needed dump of the dollar by 2026 then it's the dollar that will be worthless. 

While I don't have that much hope for the dollar, I have even less faith in BRICS. 

12 hours ago, zzaa09 said:

Noticed it hasn't budged much at all against other prominent currencies of the last several months up to a year.....yet, the U.S. Dollar is showing decline in the same period as it is today - which of course, creates these seemingly false currency fluctuations. It's all manipulated in one manner or another. Part of the dumbed down sleight-of-hand show that we easily accept......and truly has nothing to do with anything [fabricated currency exchange ratings].

 

What we should be paying attention to is the growing influence of BRICS and the ever present and real downgrading of the U.S. Dollar as a standard currency reserve the world over......all of which is being fast degraded as we speak. Things are changing quickly to the detriment of the traditional Western/Anglophone influence....perhaps for the betterment of the real world. 

 

Wouldn't surprise me at all if Thailand and major SE Asian players are integrated into BRICS by the next official gathering of this prestigious body. 

I love reading analyses of currency markets by people who have no idea how they work. 

Baht is always yo-yo'ing. Watching the £/baht this week, went down to 44.12 earlier in the week then shot up to 44.96 on wise yesterday, so sent my monthly money yesterday. If you do not watch your currency most of the month you deserve the losses you get

12 hours ago, Mavideol said:

when I saw the title I thought it had reached 40 baht to 1 USD.... it's just a 0.6% fall  to the dollar nothing (yet) to "plummet" about, if and when it reaches 38-39 then it's a different story 555

It's over 1% related to the US dollar from late Monday's position. I thought it was the announcement of the tax raid on foreigners that spooked the markets. 

12 hours ago, Tom H said:

I thought they buy from Russia cheap oil?

 

Maybe it has something do do with a tax paper?

Thailand pays in dollars and Euros.

.6 is a huge hit when you think of the country, not a couple of farangs' personal interest.

2022 GDP of Thailand was US$495 billion.  .6% of that is almost US$3 billion of lost trading value.

 

16 minutes ago, Iron Tongue said:

Thailand pays in dollars and Euros.

.6 is a huge hit when you think of the country, not a couple of farangs' personal interest.

2022 GDP of Thailand was US$495 billion.  .6% of that is almost US$3 billion of lost trading value.

 

The Tax issue relates to the Thais in first line:). Not only farangs.