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

[stoutfella]

On 9/21/2024 at 6:36 AM, cedel said:

A high /strong THB + a law to tax foreigners living in Thailand more than 6 months per year (also probably not only on remittances but on their WORLDWIDE total income) and you will have less and less retired expats in Thailand, they will be moving to Malaysia, The Philippines, Vietnam, Cambodia or simply go back to their home country for good! 

"you will have less and less retired expats", why are the retired expats shrinking?

[BuddyPish]

5 hours ago, sambum said:

 

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

 

You probably can but it's probably looks like hieroglyphics to your eyes. 

[sambum]

2 hours ago, BuddyPish said:

 

You probably can but it's probably looks like hieroglyphics to your eyes. 

Nah, I don't sphinx so - just chit chats chasing mossies.

[sambum]

8 hours ago, stoutfella said:

"you will have less and less retired expats", why are the retired expats shrinking?

Forgot the comma, mate!

[Callmeishmael]

15 hours ago, stoutfella said:

"you will have less and less retired expats", why are the retired expats shrinking?

A post from the land of the pedants:  "fewer and fewer retired expats"  😉

[KhunLA]

Biggest surge, I don't think so, as dipped below 30 six ish times since I've been here, 2000.  News never fact checks itself here 

 

It's got another 4 baht to go before any 'biggest surge'  Now, it's about at it's medium over the last 25 years.

 

Once was really nice for me, as sold the 1st house at one of those <29 weeks, and the funds were transferred in the USA $$$ to $$$.  Showed a hefty profit, and not brought over to TH till it recovered on the high side 😁

 

Built at 40+ ($20k) sold at 28+ ($46K ?) ...  😁

 

Edited September 23 by KhunLA

[fondue zoo]

On 9/21/2024 at 6:54 AM, webfact said:

The BOT has committed to stepping in to stabilize the baht and mitigate further damage to the economy.

 

How do they do this without it falling into "manipulation" ?

 

[BuddyPish]

1 hour ago, fondue zoo said:

 

How do they do this without it falling into "manipulation" ?

 

 

It helps when the entity calling others "manipulators" (US Treasury Department) is the greatest currency manipulator in the history of the world. It has no claim to the moral high ground.

 

[chiang mai]

1 hour ago, fondue zoo said:

 

How do they do this without it falling into "manipulation" ?

 

BOT operates a managed floating rate under IMF rules. That allows them to intervene in markets to smooth out the peaks and valleys in the exchange rate. Plus BOT is required under ASEAN rules to keep its currency in line with the currencies of other ASEAN states.

 

But currency manipulation is not done using exchange rates, it's done via trade, by exporting more to USD based economies than it imports from them. That's what the Fed's real concern is, they want Thailand to import more goods from them, ditto, Germany, Switzerland and Vietnam who are also supposed currency manipulators according to the Fed..

 

https://www.cfr.org/article/tracking-currency-manipulation

Edited September 23 by chiang mai

[John Drake]

On 9/21/2024 at 2:06 PM, wensiensheng said:

Thanks for the totally uninformed comment. You may wish to reflect on the fact that the USD to baht rate has now returned to the levels prevailing prior to President Biden taking office. Remember those days?

 

I do. Things priced in baht were much lower, including my rent (12 percent lower), electricity (10 percent lower), food (30 percent lower). If we're going to get 2019/2020 exchange rates, we need to get those years' prices for housing, utilities, and food as well.

[FruitPudding]

On 9/21/2024 at 5:59 AM, itsari said:

Many Thai people are working for the value of 6 beers.

Very expensive 

 

Yeah, it's mind blowing, isn't it.

[Hanuman2547]

I do miss the days of 40-42 baht to the dollar back in the late 90's early 2000s.  Life was great then.  Now with the talk of being taxed in Thailand if you reside greater than 180 days that won't affect me much but maybe others.  I hadn't planned to stay in Thailand for more than six months anyway but now will stay only 5 months or so.