Thai baht plummets against the US$

[singking]

20 hours ago, Isaan sailor said:

Hate America much?

Who doesn’t 

[WingFat]

21 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. 

Concerning BRICS and their proposed gold-backed currency: The US government holds more gold than all the BRIC countries combined. And the two main BRIC countries that hold of most of the BRIC gold are Russia and China. You gonna trust them to pony up the gold if you're holding their new currency and decide you want your gold instead ? Further China and Russia are in serious decline economically, demographically and culturally. And from a rule of law standpoint, have fun with how most of the BRIC countries' conduct their systems of justice. And don't dismiss the military strength of the US compared to all the BRIC countries combined. The USA is not the shining example either, but its shirt is cleaner than those of the BRIC countries. But if you want to trust a BRIC currency over the US$, knock yourself out.

[Hamus Yaigh]

22 hours ago, Tom H said:

I thought they buy from Russia cheap oil?

One of the biggest drivers of rising gasoline prices appears to be Russia's war in Ukraine, which has gone on for nearly 18 months. And adding to the upward pressure are the decisions by major oil producing nations Saudi Arabia and Russia to cut production.

[metisdead]

Some off topic deflection posts in violation of our Community Standards and the replies have been removed.

[KhunLA]

25 minutes ago, Hamus Yaigh said:

One of the biggest drivers of rising gasoline prices appears to be Russia's war in Ukraine, which has gone on for nearly 18 months. And adding to the upward pressure are the decisions by major oil producing nations Saudi Arabia and Russia to cut production.

One of the biggest drivers of rising gasoline prices appears to be...

 

... Price gouging by the petrol companies, and why they have had record windfall profits.  Just the illusion y'all are buying into, the war ????

[Acharn]

23 hours ago, 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

 

 

Errr... Russia has not been Communist for over thirty years. China's Communism is not for export, and I'm not sure I would even call them left wing any more. The U.S. Dollar is doing fine for now, but I remember just a couple of years ago when it was ฿28.5 to the Dollar. I'll be glad if the baht stays at this price for a couple of months (or more), but I expect it'll soon return to 32.

[Artisi]

2 hours ago, Sticky Rice Balls said:

thats what i tell the missus every night when she wants a 2nd go.... ????

You wish ????

[fleccer]

Someone is worried because the Thai Baht has dropped very little  Well I want to help these gentlemen with a little reminder by showing them the previous prices of the Baht against the Pound and the Euro

[10baht]

On 9/20/2023 at 5:11 PM, snoop1130 said:

As of this afternoon, the baht is valued at 36.2 per US dollar.

It really needs to be 40.

[jacko45k]

23 hours ago, paddypower said:

thanks for stating the obvious. do you have a plan for avoiding the 800k rule (400k if you're 'murried' ). the real concern for us peasants is - what with the helicopter money politics being practiced here, I'm sure the Govt would love rake in more cash, by raising the deposit limits on retirement visa extensions.

One has to wonder..... surely it is much easier to impose taxes on a declared and documented B65,000 /pcm income, than a fixed deposit in the bank. And will that amount need to increase to cover the tax deductions?

[Furioso]

Best to buy baht before high season. It won't be so purty in Jan/Feb. 

[fleccer]

It's already recovering, don't worry, they won't let it drop so much

[Isaan sailor]

Today, the Baht plummeted up.  So much for that taxation panic.

[fleccer]

17 minutes ago, Isaan sailor said:

Today, the Baht plummeted up.  So much for that taxation panic.

Plummeted up? What movie are you watching? Unlike you I'm seeing a clear recovery of the Baht vs all currencies Today

 

 

 

[Isaan sailor]

23 minutes ago, fleccer said:

Plummeted up? What movie are you watching? Unlike you I'm seeing a clear recovery of the Baht vs all currencies Today

 

 

 

Sorry my sarcasm failed you.  When I said plummeted up—it was just a play on the headline.  Yes the Baht rose today.

[singking]

On 9/21/2023 at 4:02 PM, WingFat said:

Concerning BRICS and their proposed gold-backed currency: The US government holds more gold than all the BRIC countries combined. And the two main BRIC countries that hold of most of the BRIC gold are Russia and China. You gonna trust them to pony up the gold if you're holding their new currency and decide you want your gold instead ? Further China and Russia are in serious decline economically, demographically and culturally. And from a rule of law standpoint, have fun with how most of the BRIC countries' conduct their systems of justice. And don't dismiss the military strength of the US compared to all the BRIC countries combined. The USA is not the shining example either, but its shirt is cleaner than those of the BRIC countries. But if you want to trust a BRIC currency over the US$, knock yourself out.

Gotta love yanks

  It f only they could think

[Thailand J]

I got 36.03B per USD on Friday  morning when I received Thursday's wire.

 

One year ago it was about 38B.

[Mavideol]

On 9/22/2023 at 7:09 AM, 10baht said:

It really needs to be 40.

if only your wish could come thru it would make another one very happy..... me

[KannikaP]

On 9/21/2023 at 6:17 AM, RichardColeman said:

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

You do not have to SEND it, simply convert GBP to THB in your Wise account, and send it when the date is correct, in my case 3rd of each month.

[Yellowtail]

4 hours ago, singking said:

Gotta love yanks

  It f only they could think

Here ya go, yank on yank on this...

[puck2]

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.

 

 

[Yellowtail]

IMHO, anyone that uses a credit card at an ATM to get cash deserves what they get. 

 

But thank you and others like you for subsidizing the rest of us.  

[Nick Carter icp]

1 hour ago, puck2 said:

Here in Soppong. Mae Hong Son Province,

Where are you living  in Soppong ?

I was staying at the end behind Jungle Guest House 

[jacko45k]

16 hours ago, Thailand J said:

I got 36.03B per USD on Friday  morning when I received Thursday's wire.

 

One year ago it was about 38B.

And on Jan 1st 2021 you would have got 30,0...it goes up and down... still a good deal at todays rates I think!

[ExpatOilWorker]

The Thai baht is being naughty again. 36.38.

August trade balance will be released today at 10:30 am.

Concensus is for a $2 billion trade deficit. 

[lordgrinz]

4 hours ago, ExpatOilWorker said:

The Thai baht is being naughty again. 36.38.

August trade balance will be released today at 10:30 am.

Concensus is for a $2 billion trade deficit. 

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

[jayboy]

On 9/20/2023 at 6:04 PM, zzaa09 said:

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.

Nonsense.The addition of Saudi Arabia gives BRICS a boost of sorts but is accompanied by much dirty baggage.China is facing a financial crash and Russia is a stumbling mess.South Africa is. ...well, no need to elaborate.Brazil is globally relatively unimportant and the rest of the new recruits don't amount to much even though Indonesia has long term potential.

 

The U.S Dollar is not even threatened, let alone replaced .Still the currency to hold when times are hard.

 

It's true that Western influence is declining but it is a remarkable exercise of moral inertia to suggest this is for the betterment of the real world.

[KhunLA]

BRICS+Saudi Arabia will account for 3.33 billion, of the 8 billion world population.

 

China, the largest manufacturing country in the world, with many countries depending on their products, to produce their own country's products.

 

India & China, alone or together, are the largest consuming countries of the world, of most things, simply due to their need & population.

 

Brazil, one of the few counties that is energy independent.  While others let big oil conglomerates control their future & economies.

 

To not realize that, simply shows total ignorance.  Waving your nationalistic flag doesn't not change the fact, the west is in a downward spiral, and losing more & more of everything, everyday.

[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 ????