Bank of Thailand Intervenes to Manage Baht's Exchange Rate

[Srikcir]

7 hours ago, webfact said:

The Bank of Thailand has confirmed its active intervention to manage the value of the baht against the US dollar

So while BoT has talked about dedollarizinIng and joining BRIC as the foundation currencies  for international transactions, it has yet to actually dedollarize. That makes sense not to do so especially if Thailand wants to be a "Currency Hub" for Southeast Asia.

Looking at the currencies of BRIC nations  (Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates), what do any of them aside from China's yuan have any trade relevance in Southeast Asia?

[chiang mai]

14 minutes ago, koolkarl said:

Bank of Thailand intervenes all the time, this is not an exception.  The baht is a controlled currency.  One cannot buy or sell as much as they like and I am referring to hundreds of thousands of dollars or millions worth.  It makes extensive use of a USD swap line  they have in place with the federal reserve printing press.  All currencies are monopoly money with nothing behind them except the sheep's confidence.  I am surprised this Ponzi scheme has lasted as long as it has. 

There are no USD swaps with the US Fed but BOT does make extensive use of USD futures. It has been estimated that the value of those future operations equal up to 50% of the FCR's which adds to the picture of currency manipulation. But with commodities such as oil priced in USD, and Thailand being a  net importer of oil, USD futures make huge sence.

[johng]

3 minutes ago, Jiggo said:

So they can go home earlier 

Well of course the best tourists  would not even leave their home (pod)  just visit virtually and send the money via a government Central Bank Digital Currency  transfer ...so quick and convenient  don't even have to get up off the sofa I'm just loving it 🤢

 

 

[ravip]

5 hours ago, chiang mai said:

You don't go to a social network forum expecting to read expert financial or economics advice, you come hear to read opinions. If you want expert advice, you're altogether in the wrong place. Try Bloomberg as a start and see where that takes you.

Extremely sorry to have burst your bubble and offended you.

The subject is here,so why hunt elsewhere. 

Good for everyone to know the correct version instead of reading thrash on these important subject. 

Where did I go wrong? Other than bursting your bubble? 

[pub2022]

6 hours ago, JonnyF said:

 

Did she really say that? 

 

Surely it's a misquote? 😃

 

Why are you surprised?

 

Haven't you heard Kamala Harris talking yet?

 

[chiang mai]

3 minutes ago, ravip said:

Extremely sorry to have burst your bubble and offended you.

The subject is here,so why hunt elsewhere. 

Good for everyone to know the correct version instead of reading thrash on these important subject. 

Where did I go wrong? Other than bursting your bubble? 

I do not understand  your question but really don't need to, so don't bother trying to explain whatever it is you're trying to ask.

[harryviking]

9 hours ago, johng said:

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

LMAO! Who the heck is that man?? That is the dumbest I have ever heard! 

[rckmc]

Quote

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

 

More to the point a deliberate weak dollar which both candidates want to have so they wont have to confront the Deep State that controls the dollar keeping it afloat the only way they know how, printing.

[rckmc]

 

Quote

 

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.

 

 

The central banks are both in lock step.

[sikishrory]

This is the second time I've seen this in the news in last few years.

Let me get this straight. Maybe I'm misunderstanding. 

Anytime the Thai baht begins to progress and get more valuable people freak out and step in to stifle and put a stop to it?

Isn't this something that most countries celebrate?

To me that would seem to suggest that Thailand purposefully limits itself and it's priority is more of being a cheap hub for cheap tourists rather than aspiring to progress to be a stronger country financially (eg. Singapore) ?