Thai baht plummets against the US$

[ExpatOilWorker]

13 hours ago, lordgrinz said:

I bought a small amount at 36.40 a few minutes ago, I feel guilty ????

So it was you that flooded the market with foreign capital.

We will have to wait until 2 pm Friday before BOT have counted the cash and release the current account data.

 

[lordgrinz]

I knew I should have waited a little longer, its at 36.545 right now and climbing ???? 

[Yellowtail]

Now 36.595939, will it never hit bottom????

[lordgrinz]

It's at 36.735 right now, hesitant to buy anymore, almost all of the forecast show the THB reaching into the low 40's against the USD over the next year or two mainly based on political uncertainty here.

[KhunLA]

5 minutes ago, lordgrinz said:

It's at 36.735 right now, hesitant to buy anymore, almost all of the forecast show the THB reaching into the low 40's against the USD over the next year or two mainly based on political uncertainty here.

That would be nice, and back to where it was when I got here/2000.

 

Hmm...what new toys do I want ????

[lordgrinz]

It's at 36.795 and going up, I think the ship (Thaitanic) is sinking.

[ozimoron]

3 minutes ago, lordgrinz said:

It's at 36.795 and going up, I think the ship (Thaitanic) is sinking.

It's all about the US dollar and US yields, nothing to do with the baht.

[zzaa09]

11 hours ago, lordgrinz said:

It's at 36.735 right now, hesitant to buy anymore, almost all of the forecast show the THB reaching into the low 40's against the USD over the next year or two mainly based on political uncertainty here.

All of which is easily manipulated and carefully coordinated. Has little to do with respective economic conditions. 

What's more pathetic are those who consider the exchange rate to be real and desperately dependent on it as if it is [real].

[ozimoron]

3 hours ago, zzaa09 said:

All of which is easily manipulated and carefully coordinated. Has little to do with respective economic conditions. 

What's more pathetic are those who consider the exchange rate to be real and desperately dependent on it as if it is [real].

Here is the US dollar index since mid July. You can easily see here how the Thai baht is being manipulated.

 

 

[kiwikeith]

On 9/20/2023 at 11:35 PM, Keep Right said:

"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

 

Money printing in the USA, banks getting runs on cash deposits and having to sell their bonds, SVB, Silicone Valley Bank collapse ,more to follow, not a good picture developing for the USA 

 

[safarimike11]

On 9/20/2023 at 5:47 PM, Tom H said:

I thought they buy from Russia cheap oil?

 

Maybe it has something do do with a tax paper?

My wife tells me that Thailand produce oil but sell it cheaply to Cambodia, so the question of bung comes into it somewhere along the line.

[safarimike11]

Just now, safarimike11 said:

My wife tells me that Thailand produce oil but sell it cheaply to Cambodia, so the question of bung comes into it somewhere along the line.

(produces)

[Tom H]

On 9/23/2023 at 7:05 PM, puck2 said:

The Thai Baht has lost against the Euro, too, witin the last days, weeks.

 

A very interesting experince on a Krungthai Bank ATM in Soppong:

 

Krungthai Bank – criminal exchange rates – in ATM of Soppong ???

 

Here in Soppong. Mae Hong Son Province, there is only 1 ATM available, a Krungthai ATM. I used it over more than 17 years with my VISA-Card. Maximum available amount; 20.000 THB. No problem until some months before. Suddenly the ATM showed me, that the VISA-€-exchange rate would not be 38,2 (i.e. The official VISA-exchange rate), but 36,2 for 1 €.

 

Of course, I stopped the ATM because of this uncredible and idiotic exchange rate. Today my son in law went to PAI. He/I got the official €-VISA-Excage-rate of 38,058294... THB for 1 Euro on a KrungSri ATM. And because you can take off a maximum of 30k for the same fee of 220 THB (as for 20k on most of other THAI BANK ATMs).

 

And noW the crazy and (out of my viewpoint) criminal result:

 

to compare it, I have to consider the same amount in THB – to the Krungthai and Krungsri Bank

2 x 30220 THB = 60.400 THB against Krungtai Bank – 3x 20.220 THB = 60660 THB;

 

Result for withdrawing a cash of 60.000 THB (without fees):

 

a) for the Krungtahi Bank here on our ATM i had to pay for 3 x 20220 THB = 60.660THB at a rate of 36,2 for 1 € = 1.675,69 €-.

b) if I would take ( the 200 THB lower amount !!!)) of 60.400 THB from the Krungsri-ATM) I had to pay: 60440 / 38,058294... = 1.588,09 €.

 

That is a price-difference of 87,60 €, not jet respecting the differenc of the 200 THB, mentioned before.

 

And now the incredible thing. If you look at he official bankrates of the Krungthai BK --->

1 € = 37,84.... THB .

 

When you campare this very, very different rates, you ask your self:

 

are there criminals at work on ATMs or is it the bank itself ????? Your experience with this bank, please.

 

 

Wise. Done.

[ExpatOilWorker]

Very unusual move by the baht this morning ????. 

 

[jacko45k]

22 minutes ago, ExpatOilWorker said:

Very unusual move by the baht this morning

There was a sudden drop in Sterling value relative to USD too.... something going on with  USD?

[Elkski]

Saw 36.75 on wise but now 36.5

[KhunLA]

No complaints from me, not 40/1 yet, but beats the hell out of 30/1:

[SoilSpoil]

On 9/28/2023 at 11:21 AM, ozimoron said:

It's all about the US dollar and US yields, nothing to do with the baht.

Euro also stands at 39 Baht at the moment. A 3% increase in less than a month. I will transfer a batch at 40 and make some extra pocket money. 

[BenStark]

7 minutes ago, SoilSpoil said:

Euro also stands at 39 Baht at the moment.

Can I exchange some Euros with you please?

[BenStark]

3 hours ago, ExpatOilWorker said:

Very unusual move by the baht this morning ????. 

 

No such move on XE. I guess an error with the service of the app you use.

 

[GanDoonToonPet]

Good news ????

 

I've just come over from China for the extended Golden Week and brought a few bricks of Yuan with me...time to head to the exchanges in Silom me thinks...

 

Usually the Yuan dips 5% when the hordes of Chinese descend so it's a pleasant change this time ????

[ExpatOilWorker]

1 hour ago, BenStark said:

No such move on XE. I guess an error with the service of the app you use.

 

Could be a fluke with Google. 

 

[lordgrinz]

Ok, I couldn't control myself, I bought a little bit more at 36.975 ????

[Middle Aged Grouch]

On 9/20/2023 at 1:35 PM, Keep Right said:

"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

 

 

The BRICS have a super power that is India also. The US$ is doomed by the next comming years once Europe bans all fossil run vehicles in 2035.

[ExpatOilWorker]

1 hour ago, Middle Aged Grouch said:

The BRICS have a super power that is India also. The US$ is doomed by the next comming years once Europe bans all fossil run vehicles in 2035.

The US is still about 1/4 of the world economy. Add $ friendly countries and it is way more than 50%.

BRICS is a joke. South Africa is a failed state, Russia is isolated and China is about the enter a real-estate crash that even our grandchildren will remember. 

Edited October 2, 2023 by ExpatOilWorker

[ExpatOilWorker]

We just broke 37 baht/$. Next stop 38?