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Thai baht plummets against the US$


snoop1130

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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.

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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 by KhunLA
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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.  

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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

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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.

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