Baht's Biggest Surge Since 1998 Poses Risk to Tourism And Exports

[GammaGlobulin]

If it keeps rising, or does not go down very soon...I will just stop buying.

 

I have most everything I need, anyway.

 

The price of eggs is the same, and the price of Tuna has gone up about 30 percent in recent times...

But, how much Tuna can I eat, anyway?

 

So, I guess the Baht's rise will not affect me that much.

 

I might even be dead before I see the Baht come back down to reasonable levels.

Still, that's just the price we pay for being alive, and living.

 

 

[chiang mai]

Yahoo Finance is showing:

 

USD/THB down at 32.89

USD/GBP up at 1.33, and

GBP/THB up at 44.03

 

It's a bit unusual to see GBP so strong, if it doesn't hold GBP/THB could take a hammering.

[kevin612]

Baht is so strong despite Thailand is suffering flooding and global economic instability 

[chiang mai]

  On 9/21/2024 at 9:32 AM, kevin612 said:

Baht is so strong despite Thailand is suffering flooding and global economic instability 

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Thailand and the Baht didn't do anything, USD moved around it and made it appear the Baht had strengthened....it hasn;'t

[sambum]

  On 9/20/2024 at 11:26 PM, Sig said:

Definitely preferred the early 2000s when it was over 40 THB to 1 USD. Those were very good times.

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I preferred it in the early 80's when I got 73 THB to the British Pound!!!

[BuddyPish]

  On 9/21/2024 at 8:12 AM, 818Pilot said:

You do know that “Farang” literally means foreigner, so people from India, China or anywhere else outside of Thailand are Farangs 

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Not it does NOT.

It mean white westerner.
Indians are called "kaek"

[Bday Prang]

  On 9/21/2024 at 8:12 AM, 818Pilot said:

You do know that “Farang” literally means foreigner, so people from India, China or anywhere else outside of Thailand are Farangs 

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I didn't know that, because it isn't true,      Indians are generally  referred to as "khaek"  which means "guest"  I don't think its particularly pejorative   Chinese are often referred to as "Cheen"   or rather more impolitely as "jek"

are you relatively new here?

[BuddyPish]

  On 9/21/2024 at 10:10 AM, sambum said:

 

I preferred it in the early 80's when I got 73 THB to the British Pound!!!

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The overhang from the Asian financial crisis lasted a lot longer than it should have but those days are over for good.

Frankly, you've more chance of seeing 33 baht to a pound than 73.

Blame decades of fiscal and monetary profligacy coupled with the sheer stupidity of Brexit.

[chiang mai]

  On 9/21/2024 at 10:42 AM, BuddyPish said:

 

The overhang from the Asian financial crisis lasted a lot longer than it should have but those days are over for good.

Frankly, you've more chance of seeing 33 baht to a pound than 73.

Blame decades of fiscal and monetary profligacy coupled with the sheer stupidity of Brexit.

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Totally agree. But that view is not popular with members, you can fully expect that within six months somebody will quote that the experts said the Pound would reach 33 and it never happened. Been there, done that.

[BuddyPish]

  On 9/21/2024 at 10:49 AM, chiang mai said:

Totally agree. But that view is not popular with members, you can fully expect that within six months somebody will quote that the experts said the Pound would reach 33 and it never happened. Been there, done that.

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 Yeah but no one would dare predict 73 

[Bday Prang]

  On 9/21/2024 at 6:40 AM, CANSIAM said:

Give it 50=60 more days, it'll be illegal again......

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Does your crystal ball also predict the winning lottery numbers ?    

From a recent thread on this very forum      

Posted yesterday at 03:51 AM

The Cannabis & Hemp Act of Thailand just dropped: 2025 marks the beginning of Thailand's cannabis leadership in the region

 

Keepers of the supply chain face stricter oversight; consumers will be punished with fines for sheer stupidity only.

 

Carl K Linn

Thailand unveils new bill to regulate cannabis while keeping it legal

 

As of January 1st, 2025, cannabis consumers in Thailand will have access to the same wide array of dry flower currently available.

 

I think it needs either recalibrating or taking back to the scammer who sold it to you  If you will insist on posting misinformation at least try to keep it "on topic"

[TroubleandGrumpy]

  On 9/21/2024 at 6:00 AM, CallumWK said:

Great links man, but you thought I didn't them already?

Now FYI, not a single one of those links even mention income from retirement, much less that it is exempt from tax.

All those countries rules are more or less similar to the Thai ones.

From the multiple tax threads on this forum, I figured already that you choose your username correctly, as you have actually no idea what you are talking about, and your posts are nothing more than trouble making, disinformation.

I gonna refrain from reading your drivel in the future.

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Ditto mate - blocked you are. 

[TroubleandGrumpy]

  On 9/21/2024 at 6:33 AM, itsari said:

Lack of competition creates a high price of beer in Thailand.

Stitch up between the Thai government and Thai beverages company.

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Same as with many things where their supply is handed to 'special friends/family' - like Mercedes, Hondas, Concrete, Steel, etc etc etc. There are more oligopolies in Thailand that I ever thought possible. I recall someone years ago doing a ownership research and he reckoned 90% of the big companies are either owned directly or connect via subsidiaries to 9 big wealthy Bangkok families - most of them ethnic Chinese who came here after WW2 and Mao (not all went to Taiwan and HK).

[Bday Prang]

  On 9/21/2024 at 4:33 AM, CANSIAM said:

The men in Brown follow Law and Order ?  

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maybe ,    maybe  not     personally I haven't  had any significant   problems    But they are not responsible for handing out prison sentences and they are not the keepers of the keys     despite what they may have told you  that is the  job of the courts.

Sounds like they have "had your pants down"  in the past ?   How much did they take you for?

[Bday Prang]

  On 9/21/2024 at 11:10 AM, TroubleandGrumpy said:

Same as with many things where their supply is handed to 'special friends/family' - like Mercedes, Hondas, Concrete, Steel, etc etc etc. There are more oligopolies in Thailand that I ever thought possible. I recall someone years ago doing a ownership research and he reckoned 90% of the big companies are either owned directly or connect via subsidiaries to 9 big wealthy Bangkok families - most of them ethnic Chinese who came here after WW2 and Mao (not all went to Taiwan and HK).

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Very true they have it all nicely tied up    Don't forget about  The duty free / king power  scam  too,    I also heard that the entire rice exports   are controlled  by a small number of  selected families too.    Some here really do live the life of riley,  their wealth must be unbelievable.  Am I jealous yes,  If I had the opportunity would I do the same ?  of course  

[Bday Prang]

  On 9/21/2024 at 11:05 AM, TroubleandGrumpy said:

Ditto mate - blocked you are. 

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Well deserved in my opinion, he accuses people of trouble making and trolling , yet his entire contribution to this thread has been nothing but trouble making and trolling.   I was thinking of blocking him too but I find him , like  many  of the idiots on here rather amusing 

Besides which I never blocked anybody before and don't know how too lol

[wwest5829]

  On 9/20/2024 at 10:23 PM, Luuk Chaai said:

Wise is currently @ 32.92   ouch !

oh.   and the Fed.. did already drop the rate..

and who can we thank for this ?

https://www.bidenomics.com/

 

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Ha! Yes, and my retirement funds, invested on the stock market are doing just fine. And who can we thank for this? No simple answers.

[fleccer]

Finally you're talking about it, but the high baht problem has been going on for years by now.  Which means that for tourists it is like to paying an extra taxation, in other words Thailand has become more expensive than the other neighboring countries. So I think it's time for the authorities to intervene and quickly, the high season is approaching

[chiang mai]

  On 9/21/2024 at 1:56 PM, fleccer said:

Finally you're talking about it, but the high baht problem has been going on for years by now.  Which means that for tourists it is like to paying an extra taxation, in other words Thailand has become more expensive than the other neighboring countries. So I think it's time for the authorities to intervene and quickly, the high season is approaching

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The Baht's natural tendency has always been to strengthen, historically, the money that BOT spends on intervention has all been used to weaken the Baht to try and keep it in the optimal range that balances imports and exports. The tourist rate is of no consequence to the economy but it's important to imports/exports. Tourists still arrived in droves, even in 2013 when THB was at 29.  

https://tradingeconomics.com/thailand/international-tourism-number-of-arrivals-wb-data.html

 

[Foexie]

  On 9/20/2024 at 10:23 PM, Luuk Chaai said:

Wise is currently @ 32.92   ouch !

oh.   and the Fed.. did already drop the rate..

and who can we thank for this ?

https://www.bidenomics.com/

 

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🤣🤣 🤣🤣

[jackinthebox]

  On 9/20/2024 at 11:01 PM, hotchilli said:

The beers are not expensive, the wages are very low.

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In comparison to europe the beers ARE expensive....for example shop price for 1 litre is 1,1€ / 39 Baht here.  Price in Thailand it's 48 Baht for 330cc !

 

 

Bottled beer in BKK Pubs and Bars is now at 170 Baht (330cc) or 520 Baht / Litre = Munich Oktoberfest-level 😒 

 

[DrPhibes]

Ya,

 

Going in to BKK bank tomorrow to ask about USD account.  Can we online both, deposit baht from baht account into USD account and exchange back over to baht account when the baht weakens.  Save the wife from going to the bank and coming home with actual USD. 

[chiang mai]

A very simple equation, for the handful of confused members who still don't get it:

 

Thailand imports oil for fuel, along with foodstuff and merchandise for sale, all of which are paid for in USD, because the Dollar is the currency of a majority of trade bill settlement.

 

When the Baht is week, it takes more Baht to buy the Dollars needed to buy all those things.

 

That means fuel at the pump costs more as does the cost of imported goods, it also means suppliers and hauliers who move goods across the country have to pay more, all of which means the consumer price of those goods is higher.

 

So it may feel better to have an exchange rate of 45 to the Pound, not 40, or 36 to the Dollar , not 31, but  the overall cost impact is very very similar, over time.

 

 

[JimTripper]

Another great argument for not relying on tourism!

[charmonman]

  On 9/20/2024 at 10:23 PM, Luuk Chaai said:

Wise is currently @ 32.92   ouch !

oh.   and the Fed.. did already drop the rate..

and who can we thank for this ?

https://www.bidenomics.com/

 

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So, as usual, everything is Biden’s fault? I guess we should thank him for the higher interest rate that made the dollar stronger vs the Baht over the past couple of years then.

[watchcat]

  On 9/20/2024 at 9:38 PM, webfact said:

Thailand’s baht is rocketing towards its biggest quarterly rise since the Asian financial crisis, a development that has key tourism and export industries clutching their pearls.

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I'm lucky I do not have to work with tourism or exports.

[sambum]

  On 9/21/2024 at 10:42 AM, BuddyPish said:

 

The overhang from the Asian financial crisis lasted a lot longer than it should have but those days are over for good.

Frankly, you've more chance of seeing 33 baht to a pound than 73.

Blame decades of fiscal and monetary profligacy coupled with the sheer stupidity of Brexit.

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So your glass is half empty then? 🙂 

[BuddyPish]

  On 9/22/2024 at 8:45 AM, sambum said:

 

So your glass is half empty then? 🙂 

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No.
I can just read the writing on the wall

 

[chiang mai]

  On 9/22/2024 at 3:29 AM, JimTripper said:

Another great argument for not relying on tourism!

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The reason why the government likes tourism so much is that it keeps consumer spending buoyant and provides jobs for low skilled people, without needing government support. International Tourism is no big deal from a GDP perspective, it's only about 12% in total but it's importance to the man in the street is huge. Tours, van drivers and transportation in general, small/medium hotels, restaurants, shops and bars all see direct support from international tourism, as do the families of that illegal profession.

[sambum]

  On 9/22/2024 at 8:59 AM, BuddyPish said:

 

No.
I can just read the writing on the wall

 

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Well, mine is half full, and I can't see any writing on the wall!