Hope this continues ! 🙂👍

Bangkok bank is showing 43.80 for TT's this morning, I suspect the above rate is the spot rate..

 

 

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Nov 11, 02:11 UTC · 

 

Someone in Thailand is manipulating the exchange rate.

 

1 hour ago, CallumWK said:

Someone in Thailand is manipulating the exchange rate.

 

How do you figure? Strong USD and stronger THB vs weakened GBP.

Edited November 11, 20241 yr by chiang mai

2 minutes ago, chiang mai said:

How do you figure? Strong USD and stronger THB vs weakened GBP.

 

I consider that the percentage of change should be in line with the change GBP/USD and USD index.

1 hour ago, CharlieH said:

 

Hope this continues ! 🙂👍

So that seems to imply that because of trump the USD has less value!! 

1 hour ago, chiang mai said:

Bangkok bank is showing 43.80 for TT's this morning, I suspect the above rate is the spot rate..

 

 

It's the rate WISE and the other money moving companies sell for.

Best not to use banks for exchanging foreign currency.

Edited November 11, 20241 yr by BritManToo

30 minutes ago, CallumWK said:

 

I consider that the percentage of change should be in line with the change GBP/USD and USD index.

GBP/THB gained because THB weakened.

 

THB weakened because USD strengthened.

 

GBP/USD remains weaker.

 

The big story here is that THB has weakened.

 

GBP/THB is a cross rate derived from USD/THB and GBP/USD, the moves are rarely ever going to be symmetrical across the board.

 

 

Just now, chiang mai said:

The big story here is that THB has weakened.

 

And that was the point of my first post.

From the news articles from the last few weeks, it's obvious that the Thai government want the baht to weaken, so why not help it a hand when the opportunity arises.

Think the slight weakening of the Thai Baht is due to the uncertainly of the upcoming election results.

25 minutes ago, owl sees all said:

Think the slight weakening of the Thai Baht is due to the uncertainly of the upcoming election results.

election result was last Tuesday Owl ?

1 hour ago, CharlieH said:

election result was last Tuesday Owl ?

Thanks for that Chaz mate.

 

I'd better tell the wife. She is still hoping for a Thaksin victory.

Thanks Trump

Hardly Trump, the US does not control trading on Baht or Pounds. The Thai government is trying to move the money a bit to improve bookings for the high season.

The GBP/THB rate is always linked to the USD/THB rate. Whatever the USD/THB rate of exchange is multiply by GBP/USD rate and you get the GBP/THB rate.

 

Basically Brits would need a strong Pound against the Dollar to get a better THB exchange rate.

7 hours ago, CallumWK said:

 

I consider that the percentage of change should be in line with the change GBP/USD and USD index.

 

As Spock would intone, "Illogical Captain."

6 hours ago, CallumWK said:

 

And that was the point of my first post.

From the news articles from the last few weeks, it's obvious that the Thai government want the baht to weaken, so why not help it a hand when the opportunity arises.

 

Yes, they would prefer a weaker baht. What we are seeing is natural, short-term forex attrition, therefore they don't need to manipulate anything, so no need for a "helping hand" (yet).

Just now, NanLaew said:

 

Yes, they would prefer a weaker baht. What we are seeing is natural, short-term forex attrition, therefore they don't need to manipulate anything, so no need for a "helping hand" (yet).

 

High season has started, so baht should naturally get stronger, rather than weaker.

3 hours ago, DeputyDog said:

The GBP/THB rate is always linked to the USD/THB rate. Whatever the USD/THB rate of exchange is multiply by GBP/USD rate and you get the GBP/THB rate.

 

Basically Brits would need a strong Pound against the Dollar to get a better THB exchange rate.

 

I was offshore being paid in USD when Truss's "lettuce" administration and Kwarteng's disastrous budget. I was around +11% on my final invoicing paid in the UK which also translated as more baht for my £ over here.

3 hours ago, cjinchiangrai said:

Hardly Trump, the US does not control trading on Baht or Pounds. The Thai government is trying to move the money a bit to improve bookings for the high season.

 

Hardly a coincidence?

 

Edited November 11, 20241 yr by NanLaew

https://finance.yahoo.com/news/thai-baht-most-vulnerable-emerging-000004655.html