Bank of Thailand Intervenes to Manage Baht's Exchange Rate

[thesetat2013]

4 hours ago, webfact said:

However, Ms. Chayawadee emphasized that the stronger baht is unlikely to impact the tourism sector adversely in the final quarter of this year. "International tourists generally welcome a firmer baht against the dollar, which helps them better manage their spending in Thailand," she said. Key visitor markets, including China, Malaysia, and Japan, have also seen their currencies appreciate relative to the dollar, supporting this optimistic outlook.

Wow.. is this a crock or what? do they really believe this? 

[damo1967]

3 hours ago, KhunLA said:

Still waiting ... 

 

Well, not me, but if I was playing tourist, I'd look elsewhere to holiday.

Can you leave now (with your negativity too please?)

[ryandb]

Although I don't like the constant fluctuations this isn't just the baht strengthening, it's election season and the US is basically staving off the recession until post-election, when your interest on the national debt hits 1 trillion a year you can only keep up the facade for so long, expect a further drop in the new year (there will likely be a small bounce after the results)

[Pinot]

I have a tourism Facebook page and I was screaming for people to buy cheap baht when it was 37 in April. I brought in enough for a couple of years. Now I don't have anywhere to invest the baht I have except for a measly 2%. That's okay. I still come out way ahead.

[Nickcage49]

They’ve proven over and over they don’t know what to do.

[baansgr]

4 hours ago, johng said:

Tourists appreciate getting less for their holiday money with a firmer Baht as it helps them spend less 5555

But, but, but they always insist on paying more cos its so cheap...anyone that doesn't is a cheap Charlie 

[Hardcastle P]

3 hours ago, handymax said:

They got it all wrong....this is not about a strong baht or any other currency....it is all about a weak dollar.

What about the pound or euro it's not just the dollar.

[RichardColeman]

baht 10% stronger will mean at least 10% less tourists and 10% less exports. and China 10% more cheaper - if the guys running this insane currency cannot see mount doom then they should not be in the job

[outsidetrader]

Here we go, tried that in 1997 and bang went the baht the BOA ran out of funds .Good News for the ecchange rates if that happens ..dont cash in just yet ,)?

[818Pilot]

4 hours ago, webfact said:

Ms. Chayawadee emphasized that the stronger baht is unlikely to impact the tourism sector adversely in the final quarter of this year

You just can’t fix stupid!

[CANSIAM]

As the tourism number's plummet prior to high season.........!!!!! 

[J Branche]

Posts are right about some tourists.  From US if they prebooked they are committed.  Airlines will not refund ticket if canceled.  

 

Tourists from US also spend more freely when on Holiday.

 

Overall yes word will spread and some budget travelers may delay or change their holiday plans.

[itsari]

4 hours ago, chiang mai said:

I think you mean exports, imports become much cheaper as the Baht gets stronger.

The man says 'excluding' imports

[kuzmabruk]

4 hours ago, webfact said:

Ms. Chayawadee emphasized that the stronger baht is unlikely to impact the tourism sector adversely in the final quarter of this year. "International tourists generally welcome a firmer baht against the dollar, which helps them better manage their spending in Thailand," she said.

Is she daft?  International tourists are more likely to be educated and therefore do not welcome a firmer and fatter baht.  

[lordgrinz]

Since they haven't stated what these "interventions" are, should we assume they are just manipulating the currency as they have been accused of?

[chiang mai]

5 minutes ago, itsari said:

The man says 'excluding' imports

Already acknowledged many posts ago!

[Gottfrid]

3 hours ago, JonnyF said:

 

Did she really say that? 

 

Surely it's a misquote? 😃

No misquote. It´s a proof of that they all believe in teflon Thailand

[Skeptic7]

So in a nutshell...said nothing, doing nothing. 

[itsari]

7 minutes ago, chiang mai said:

Already acknowledged many posts ago!

My apologies 

[bkk_mike]

3 hours ago, chiang mai said:

BOT spends all it's money trying to weaken it, not make it stronger. 

Trying to weaken your currency (at least one that you have the printing rights for) makes you money in other currencies.

That's why the figures showing the intervention increased currency reserves.

Trying to keep a currency strong is where you spend money...

The dollar weakened suddenly because they lowered interest rates by half a point instead of the expected quarter point. That and a whole boatload of uncertainty around the election.

[connda]

What I find interesting is the price of gold isn't moving in synch with global prices, which tell me that the USD is actually very weak although the THB is definitely strengthening. 

[bkk_mike]

9 minutes ago, Gottfrid said:

No misquote. It´s a proof of that they all believe in teflon Thailand

Technically, unless you're from the US or Hong Kong (tied to the USD), you don't care about the baht/dollar exchange rate. Only the exchange rate from your own currency.

[Bday Prang]

3 hours ago, JonnyF said:

 

Did she really say that? 

 

Surely it's a misquote? 😃

I doubt its a mis quote,  and don't call me shirley

[Bday Prang]

3 minutes ago, bkk_mike said:

Technically, unless you're from the US or Hong Kong (tied to the USD), you don't care about the baht/dollar exchange rate. Only the exchange rate from your own currency.

Which is more than likely influenced strongly by the dollar.....technically

[HalAndLois]

4 hours ago, Gottfrid said:

Sure they do. A tourist always want to pay as much as possible for hotel, food and drinks as well as activities. That´s a well know fact, right? Let´s just sum it up with, that Ms. Chayawadee, did not get her job based only on her amazing qualification in the area of assigned work. 🤣

I had to read this twice.  What she's saying is that other Asian currencies are appreciating against the dollar just as the baht is.  I mean, she's a pin head, because all this means is that the other currencies are holding their own, but apparently she's implying that this won't affect those wonderful Chinese tourists and those nonexistent Japanese tourists because their currencies are holding steady.  Of course, it will mean fewer freespending Americans, but as I said she's a pin head.  

[Gottfrid]

4 minutes ago, bkk_mike said:

Technically, unless you're from the US or Hong Kong (tied to the USD), you don't care about the baht/dollar exchange rate. Only the exchange rate from your own currency.

You missed, if you are working with international project and currencies. Also if you are trading currencies online. Not all on this board are retired and rolling their thumbs everyday.

[Bday Prang]

33 minutes ago, J Branche said:

Airlines will not refund ticket if canceled.  

It generally depends on the sort of ticket , some can be cancelled , and some cannot

[Expat Tom]

This country is run by inept stupid people. I have live here a long time it is nearing my time to go.

I am 90% sure that I will be here for New Years 2025 and 99% sure that will be my last New Years

in Thailand. 

[JBChiangRai]

4 hours ago, ozz1 said:

Probably a little too late for tourists planning their holidays here Vietnam is loving this

I am loving it, because I’m on holiday in Vietnam now, soon I will be on holiday in Hong Kong and again at Christmas I’m on Phu Quoc Island in Vietnam again. Paying for everything in Thai Baht.

[DrPhibes]

4 hours ago, chiang mai said:

Firmer doesn't mean weaker, firmer means stable and unlikely to change.

You sure your talking fiscal policy and not the state of the average bar girl fake breasts?