Thai Baht Against The Gbp

[Naam]

I think that the economies behind the Euro , Dollar and even the Pound are far more durable than Thailands, which seems in all honesty to be me a complete fantasy.

They produce more than they consume, they work for extremely low wages, and Thailands Government isn't indebted by Trillions of Dollars in Debt and Obligations.

Don't you think an Economy which borrows to spend and one that makes promises of a cushy life for each and every individual is living a fantasy? Thailands Economy is far more durable then that of the U.S, U.K, and many in the Euroland.

did those aliens treat you well during the abduction period?

[jdrake72]

I think that the economies behind the Euro , Dollar and even the Pound are far more durable than Thailands, which seems in all honesty to be me a complete fantasy.

They produce more than they consume, they work for extremely low wages, and Thailands Government isn't indebted by Trillions of Dollars in Debt and Obligations.

Don't you think an Economy which borrows to spend and one that makes promises of a cushy life for each and every individual is living a fantasy? Thailands Economy is far more durable then that of the U.S, U.K, and many in the Euroland.

did those aliens treat you well during the abduction period?

Ok guys read this piece of article from today's BKK post:

http://www.bangkokpost.com/breakingnews/13...est-rates-again

"UTCC deputy chairman Pongsak Assakul suggested that the central bank should ensure that the exchange rate is similar to those in neighbouring countries, as it can help the export sector.

The values of neighbouring currencies were much weaker than the value of Thai baht, he said."

These are not my words na khrap :-)

At last ! They admit it is false THB value has being kept "in line" with other regional currencies...

It has been in line maybe with the 2-3 strongest ones, , but most of asian currencies , vurtually all south american and african currencies (amonsgt which there are many competitors of Thailand in term of export) are much weaker compared to THB now.

I repeat these aren t my words...follow the link above...KHUN Pongsak said that, not Mr. Jerry.

I think that THB will start to lose ground in the coming months..

1-Exports will resume their crash after the February brief "relief" due to a big export of gold towards Switzerland

2-BOT will cut interest rate to 1%, amongst the lowest rates in the region

3-2009 GDP current forecasts are between -2% and -3% and it can be worse in the coming months, so amongst the worst in the region

4-Political instability in Thailand is cronic, is there still any guillible who thinks this govt. (put in charge by a judicial coup d etate) will guarantee political stability ? Political stability and democracy have been removed from Thai dictionary already.

Yellow shirts, red shirts, what next ? Black shirts ? Cambodia and Thailand going into a war ? mmm

4-In my 11 years here, I noted that MOST years THB starts to weaken around Songkraan

Now...up to you Miss Tarisa,....do you want to give a fresh oxigenation to thai exports or keep your stubborn and false actitude of THB "stability in line with regional currencies". ?

Of course a THB at 40 vs. USD will not solve all problems here, it will be just a small relief which in turn could give relief to employment and internal consumption. It is not a panacea but for an export-oriented economy, it is not peanut either.

Edited April 2, 2009 by jdrake72

[Naam]

At last ! They admit it is false THB value has being kept "in line" with other regional currencies...

UTCC deputy chairman Pongsak Assakul suggested that the central bank should ensure that the exchange rate is similar to those in neighbouring countries, as it can help the export sector.

who are "they" and does "suggest" and "it can help" mean "admit it is false"? wishful thinking is no substitute for facts. having said so i too think THB will get weaker. when and by how much? i have no idea.

[bangkokrick]

The pound has gained on most major currencies today and stands at just over 52 Baht. Things seem to be getting a bit better for us Brits.

Cheers, Rick

[jdrake72]

At last ! They admit it is false THB value has being kept "in line" with other regional currencies...

UTCC deputy chairman Pongsak Assakul suggested that the central bank should ensure that the exchange rate is similar to those in neighbouring countries, as it can help the export sector.

who are "they" and does "suggest" and "it can help" mean "admit it is false"? wishful thinking is no substitute for facts. having said so i too think THB will get weaker. when and by how much? i have no idea.

Well, a good pair of glasses could help you man...

Mr. Pongsak said "The values of neighbouring currencies were much weaker than the value of Thai baht, he said.".

THAT S 100% OPPOSITE OF THE SHAMELESS LIES OF MISS TARISA.

THB has been rising against most neighbour currencies,

and today it has risen incredibly too:(except against the pound, oh, at last !)

8:17am USD,EUR,YEN

http://www.scb.co.th/html/exchange/02042009_081700.htm

16:43

http://www.scb.co.th/html/exchange/02042009_164300.htm

USD,EUR,YEN crashed in few hours against THB despite political mess, tension with Cambodia, Indutrial productio index -50% (!), GDP forecast a totoal disaster and interest rate near the bottom and budget deficit balloning...

Can you explain me that ? I cannot find a reason.

Edited April 2, 2009 by jdrake72

[ourmanflint]

re: THB pegged to CNY

CNY is pegged to the USD, with a 0.5% daily trading 'band' allowance I believe. So a THBCNY peg, is essentially a USDTHB peg, with a 0.5% band allowance per day. Not far off their current managing MO.

If thats true it just goes to show how the whole Thai economy and baht strength is a load of fantasy played out by the kids in mens bodies running the BOT.

A complete joke that I hope backfires on all involved.

[Naam]

At last ! They admit it is false THB value has being kept "in line" with other regional currencies...

UTCC deputy chairman Pongsak Assakul suggested that the central bank should ensure that the exchange rate is similar to those in neighbouring countries, as it can help the export sector.

who are "they" and does "suggest" and "it can help" mean "admit it is false"? wishful thinking is no substitute for facts. having said so i too think THB will get weaker. when and by how much? i have no idea.

Well, a good pair of glasses could help you man... Mr. Pongsak said "The values of neighbouring currencies were much weaker than the value of Thai baht, he said.".

hmmm... you mean if i wear glasses and drink enough Chang i will see Mr. Pongsak (singular) double and refer to him as "they" (plural)? my question still stands where do i find "admit" and where "false" except in your posting?

Edited April 3, 2009 by Naam

[badge]

Its not that out of kilter; Taiwans dollar and Vietnam's Dong have both been stronger over the last year. Howveer the VND doesnt really count as its even more managed(fragile) then THB. Most currencies in the region are 'managed' somewhat.

[badge]

re: THB pegged to CNY

CNY is pegged to the USD, with a 0.5% daily trading 'band' allowance I believe. So a THBCNY peg, is essentially a USDTHB peg, with a 0.5% band allowance per day. Not far off their current managing MO.

If thats true it just goes to show how the whole Thai economy and baht strength is a load of fantasy played out by the kids in mens bodies running the BOT.

A complete joke that I hope backfires on all involved.

USDCNY is pegged, with a trading band. THB isnt pegged to anything. I was replying to someone suggesting a THBCNY peg.

[ChiangMaiFun]

re: THB pegged to CNY

CNY is pegged to the USD, with a 0.5% daily trading 'band' allowance I believe. So a THBCNY peg, is essentially a USDTHB peg, with a 0.5% band allowance per day. Not far off their current managing MO.

If thats true it just goes to show how the whole Thai economy and baht strength is a load of fantasy played out by the kids in mens bodies running the BOT.

A complete joke that I hope backfires on all involved.

USDCNY is pegged, with a trading band. THB isnt pegged to anything. I was replying to someone suggesting a THBCNY peg.

52.80 - the doom and gloom merchants have gone strangely quite...

[ChiangMaiFun]

still at 52.8 ish - should see it go up further from tomorrow with Thai Baht rating going down - any predictions?

Quote from a reuters story:

The decision by Standard and Poor's to downgrade Thailand's local currency sovereign credit rating on Tuesday will hit the baht, although the rating agency affirmed the foreign currency credit rating, albeit with a negative outlook.

[Naam]

still at 52.8 ish - should see it go up further from tomorrow with Thai Baht rating going down - any predictions?

Quote from a reuters story:

The decision by Standard and Poor's to downgrade Thailand's local currency sovereign credit rating on Tuesday will hit the baht, although the rating agency affirmed the foreign currency credit rating, albeit with a negative outlook.

no hit nowhere to be seen the tiny upward movement of THB vs. EUR and GBP is nothing but a result of cross trading and a weaker USD vs. EUR and GBP. the Baht did not care what Reuters journalists write and is stronger vs. US-Dollar no matter.

[chiang mai]

re: THB pegged to CNY

CNY is pegged to the USD, with a 0.5% daily trading 'band' allowance I believe. So a THBCNY peg, is essentially a USDTHB peg, with a 0.5% band allowance per day. Not far off their current managing MO.

If thats true it just goes to show how the whole Thai economy and baht strength is a load of fantasy played out by the kids in mens bodies running the BOT.

A complete joke that I hope backfires on all involved.

USDCNY is pegged, with a trading band. THB isnt pegged to anything. I was replying to someone suggesting a THBCNY peg.

52.80 - the doom and gloom merchants have gone strangely quite...

I think it's all about a "bull run" versus a "bear bounce" on the equities front and I'm with the group that says it's very much the latter - the current hearts and minds campaign is being orchestrated well and is semi-enduring, trouble is there are no volumes to speak of. I reckon that if you can get 52.80 Baht on the Pound you should take it but be sharpish about doing so because this offer may not be available for too long. And whilst on the subject, UK property looks attractively priced, PM me if you would like to buy something really special!

[JimsKnight]

I think that the economies behind the Euro , Dollar and even the Pound are far more durable than Thailands, which seems in all honesty to be me a complete fantasy.

They produce more than they consume, they work for extremely low wages, and Thailands Government isn't indebted by Trillions of Dollars in Debt and Obligations.

Don't you think an Economy which borrows to spend and one that makes promises of a cushy life for each and every individual is living a fantasy? Thailands Economy is far more durable then that of the U.S, U.K, and many in the Euroland.

did those aliens treat you well during the abduction period?

Probably not as well as they treat champagne socialists like yourself mate

http://www.urbandictionary.com/define.php?...gne%20Socialist

Nows not the time to buy UK property I feel. Give it some more time. We're not over the Abyss yet

Edited April 19, 2009 by JimsKnight

[12DrinkMore]

Nows not the time to buy UK property I feel. Give it some more time. We're not over the Abyss yet

As long as that tyrant Brown is calling the tune the Abyss is getting deeper and the slope into it steeper.

http://www.guardian.co.uk/business/2009/ap...avies-recession

Trade minister Mervyn Davies said today he is not worried about the pound declining in value, saying that a weak currency will help drive the British economy out of recession.

"When it comes to the state of the pound, obviously now we have a huge exporting opportunity," he told Reuters in Hong Kong.

Asked if he was worried about a further decline in the currency, Davies said: "No. The currency markets are the currency markets."

looks like the Labour party has no plans to shore up the battered Squid.

[yumidesign]

Does anyone have any predictipn as to how the pound will do against

the baht this year. I do need to bring some funds from the UK, but I'm prepared

to wait till later in the year if the baht will increase.

Do you think theres a chance of it hitting 70 again?

Many thanks

unfortunately the dog has taken my crystal ball

woof woof .... good one

[Electra]

Expect to see more sentiment based fluctuations but nothing to suggest a restoration of the rate towards 70bt for at least another 2 - 3 years since that could only be driven by a significant increase in British GDP and interest rate hikes necessary to contain concomitant inflation. Certainly, a change in the UK government from the current lot to the Conservatives next year would hasten an upward blip if only to reflect the long awaited expectation that public expenditure will finally be brought under control. Of course, that will affect GDP in the short term and delay escape velocity from recession but as they say no pain, no gain.

In the mean time, watch out for dead cat bounces, deluded politicians clinging to power and traders snorting bad coke.

[Merangue]

Would expect the GBP to take another pummeling today after the budget is announced. Honestlyu can't see Darling doing much to alleviate the problem.

[12DrinkMore]

Would expect the GBP to take another pummeling today after the budget is announced. Honestlyu can't see Darling doing much to alleviate the problem.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

April 22 (Bloomberg) -- The pound, U.K. government bonds and corporate debt fell on concern Chancellor of the Exchequer Alistair Darling’s budget today will show Britain’s recession is worsening. The yen rose against all 16 most-traded currencies.

The U.K. currency weakened versus the yen, dollar, euro and Swiss franc.

[thaimate]

Would expect the GBP to take another pummeling today after the budget is announced. Honestlyu can't see Darling doing much to alleviate the problem.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

April 22 (Bloomberg) -- The pound, U.K. government bonds and corporate debt fell on concern Chancellor of the Exchequer Alistair Darling’s budget today will show Britain’s recession is worsening. The yen rose against all 16 most-traded currencies.

The U.K. currency weakened versus the yen, dollar, euro and Swiss franc.

more doom and gloom from 12drinkmore,never happier than when he is posting bad news

[ChiangMaiFun]

Would expect the GBP to take another pummeling today after the budget is announced. Honestlyu can't see Darling doing much to alleviate the problem.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

April 22 (Bloomberg) -- The pound, U.K. government bonds and corporate debt fell on concern Chancellor of the Exchequer Alistair Darling's budget today will show Britain's recession is worsening. The yen rose against all 16 most-traded currencies.

The U.K. currency weakened versus the yen, dollar, euro and Swiss franc.

more doom and gloom from 12drinkmore,never happier than when he is posting bad news

yup he loves it! unless of course the GBP comes to 52 something and then he shuts up!!!!!!!!!!!!!!!!! not a twitter not a sound!

[Merangue]

Give it a few days of downward trend and we will be heading back into the high 51's to 52's again. As i have said many times the GBP is already undervalued and these hits it is taking are pretty much already factored in. Once in a while some bad news comes out to hit again but then the panicking sheep realise it is already lower than it should be and they stop panicking.

If i were a rich bloke with plenty of Cash i would actually buy Sterling as whether it takes 3 months, 1 year or 3 years, it will eventually gain much of what it has lost.

I don't bother to read 12drinkmore's posts anymore. I don't have to. I already know it will be doom and gloom and an attack on the british government/economy/way of life.

[thaimythai]

100% the Thai baht is being managed for whatever reason I'm not sure but it definitely is, but also i think the pound is as well, the government don't want it to go up a weak pound is good for exports and brown said not so long ago that exports will play a big part in getting us out of this mess, and from what i read there doing OK a the moment, the french have already complained that its giving us an unfair advantage, so i cant see no change for a good few months yet i expect it will stay around the 50 mark, it might go down a bit it might go up a bit but always around the 50.

[12DrinkMore]

I don't bother to read 12drinkmore's posts anymore. I don't have to. I already know it will be doom and gloom and an attack on the british government/economy/way of life.

Yep, I am not very optimistic about the Western countries, in particular the UK. Sorry about all that doom and gloom, but the papers are full of it too.

But on the other hand I have always been very positive about the Asian economies. There is a dynamic here that is lacking in Europe. Asia has a huge potential to develop its own internal markets. And although there is always the political bickering going on, particularly at the moment in Thailand, the effects seem curiously minimal. I have noticed a huge support from Scandinavian tourists in particular, who will probably never change their holiday destination.

But this thread is about the THB versus the GBP.

The GBP benefited immensely from the high interest rates, I was getting over 6.5% in GBP, whilst the USD and EUR were offering much less. Now all are approaching zero interest rates, and the difference between the currencies has been reduced considerably.

I would suggest that the current value of the GBP, some 52 Baht, is more or less where it should be at the present time. The GBP/THB rate of around 70 was mostly due, IMO, to the excellent above average interest rates.

From here on in, I think that the economic performance of the individual countries will have more effect on the exchange rates. And the UK does not look particularly well positioned. Labour is planning a huge deficit budget for the next few years, which means they have to raise the finance somewhere.

But anyway, if you have some good news to post, then please go ahead. But I cannot get excited over the GBP oscillating around 50 to 53 Baht. Last year I was getting 70 and I do not believe I will see that again. But if there are signs of an interest rate hike, then I will do my best to post a very optimistic piece about the GBP.

[Naam]

still at 52.8 ish - should see it go up further from tomorrow with Thai Baht rating going down - any predictions?

Quote from a reuters story:

The decision by Standard and Poor's to downgrade Thailand's local currency sovereign credit rating on Tuesday will hit the baht, although the rating agency affirmed the foreign currency credit rating, albeit with a negative outlook.

no hit nowhere to be seen the tiny upward movement of THB vs. EUR and GBP is nothing but a result of cross trading and a weaker USD vs. EUR and GBP. the Baht did not care what Reuters journalists write and is stronger vs. US-Dollar no matter.

april 17, 2009 THB/GBP 52.01 / april 25 - 51.46

april 17, 2009 THB/USD 35.29 / april 25 - 35.22

where's the hit?

[badge]

Is this whole thread - and the many like it - not documenting how the THB ignores fundamental 'logic'? Why would S&Ps downgrade make any difference?

[12DrinkMore]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

The Thai baht had its first weekly gain this month after Prime Minister Abhisit Vejjajiva lifted a two-week state of emergency, introduced after anti-government protests turned violent, in an attempt at political reconciliation.

“The lifting of the order should be positive for the baht in the short term,” said Nuchjarin Panarode, a Bangkok-based economist at Capital Nomura Securities Pcl. “On the other hand, lifting the order could also mean the protests can resume. The political situation remains uncertain.”

The baht rose 0.2 percent this week to 35.39 versus the greenback in Bangkok.

[Rob5060]

''The GBP benefited immensely from the high interest rates, I was getting over 6.5% in GBP, whilst the USD and EUR were offering much less. Now all are approaching zero interest rates, and the difference between the currencies has been reduced considerably.''

I have just opened a new savings account at 3% and some are offering 3%+ Check http://www.telegraph.co.uk/finance/persona...e-accounts.html

Edited April 25, 2009 by ROB5060

[ChiangMaiFun]

''The GBP benefited immensely from the high interest rates, I was getting over 6.5% in GBP, whilst the USD and EUR were offering much less. Now all are approaching zero interest rates, and the difference between the currencies has been reduced considerably.''

I have just opened a new savings account at 3% and some are offering 3%+ Check http://www.telegraph.co.uk/finance/persona...e-accounts.html

3%? wow!

[12DrinkMore]

''The GBP benefited immensely from the high interest rates, I was getting over 6.5% in GBP, whilst the USD and EUR were offering much less. Now all are approaching zero interest rates, and the difference between the currencies has been reduced considerably.''

I have just opened a new savings account at 3% and some are offering 3%+ Check http://www.telegraph.co.uk/finance/persona...e-accounts.html

Yep, rates have improved slightly over the last month. But I am still being very cautious and do not intend to make any long term deposits or move more money back into GBPs until there is some evidence that we are in for a period of stability. Darling's massive deficit budget will require the issuing of more government bonds. The big question is whether he will be able to sell them into the markets.