Thai Baht Exchange Rate

[Cool Water Palace]

I've seen no reference to the fixing of the rate, but the rate for 2 weeks now has been 62.2 to £, 49.8 to €, and 31.4 to $. (Source: BBC Business website)

I googled and found a link on 27 Feb to a denial by Thai finance minister that the rate would be fixed. That seems to be what's happened, but no apparent threads on TV.

So can all TV Forex experts out there please explain what's going on? Or is it just a peculiar phase. Seems there are opportunities for a quick profit by taking advantage of other rate changes. I wish I had the spare funds to start with.

Whilst I'm here, another question. Will the Oz dollar increase in value any further?

Edited April 25, 2008 by Cool Water Palace

[Mosha]

That's about 1.5 baht/pound more than it was last month on pension day.

Edited April 25, 2008 by Mosha

[briley]

BBC website is stuck

[chiang mai]

Cross check the rates you see at the BBC with Oanda etc because they have changed on a daily basis, failing that consider a cache memory issue on your PC.

[AFKAFSinLOS]

Bloomberg is one of the most up to date, accurate and easy to use. Shows regular movements.

http://www.bloomberg.com/markets/currencie...currencies.html

[ytivarg]

Only the baht/dollar market has constant intervention from the central bank. Since the removal of the 30% withholding on inflows, the Bank of Thailand has said that the most important factors to them regarding the baht/dollar is stability and that the baht doesn't strengthen faster than other regional currencies. It is true, for the past couple of weeks, the baht has quite stable, but only against the dollar. Baht versus other currencies will fluctuate depending on the strength of the dollar.

[Cool Water Palace]

OK

I'll send a message to their webmaster. It seems unusual. I've not seen it happen before, and I'm a regular checker of several currencies I need to keep a check on. The rate given seems to reflect the rates for bank transfers when I need to make them.

[Cool Water Palace]

I've received a reply from BBC:

Thanks for your e-mail. We have raised this issue with our market data

supplier, FTSE Interactive Data, but they have not yet managed to

resolve this issue. I will press them again on this issue.

Regards

Tim Weber

Business editor

BBC News - interactive + radio http://bbc.co.uk/business

-----Original Message-----

Sent: 28 April 2008 10:41

To: NewsOnline SiteProblems

Subject: Site Problems

--------------------------------------------------

COMMENTS:

On the currencies page, the value of the Thai Baht has not been changed

for about 2 weeks. This seems strange. What's the problem?

[cclub75]

Forget about BBC or Bloomberg.

Stick to... a thai bank.

For instance, SCB, a large one.

You'll see that exchange rates change several times per day.

http://www.scb.co.th/html/exchange/bk-pvsexchange.htm

However, like someone said, THB-USD seems "stuck" into glue. Stability, is the key word for the BOT.

[AFKAFSinLOS]

Forget about BBC or Bloomberg.

Stick to... a thai bank.

For instance, SCB, a large one.

You'll see that exchange rates change several times per day.

http://www.scb.co.th/html/exchange/bk-pvsexchange.htm

However, like someone said, THB-USD seems "stuck" into glue. Stability, is the key word for the BOT.

Really depends on what you are looking for and why. Bloomberg and BBC are in totally different classes. Bloomberg updates much more frequently than any Thai bank is very convenient to check on web, and for looking at consistent trends.

SCB shows their own price a few times a day. Good if you want to see a reasonably up to date rate from a single bank to buy/sell. Not so good if you want trends, as the rates they position themselves are inconsistent.

Another one is Bank of Thailand website, updated at end of day.

Horses for courses.