Us Markets Crash: Exchange Dollar For Baht Now?

[RY12]

Thai markets open in about 3 hours from this post. Should I go to the bank now and wire my dollars to my Thai fiancee's account? We're developing some land and I was waiting to send her the money because the Thai baht has been steadily falling against the dollar for a while now. DOES ANYONE know the effect of a US crisis on the dollar-baht exchange rate?! I assume it makes the dollar weaker, but maybe it has the opposite side effect?

[LaoPo]

Thai markets open in about 3 hours from this post. Should I go to the bank now and wire my dollars to my Thai fiancee's account? We're developing some land and I was waiting to send her the money because the Thai baht has been steadily falling against the dollar for a while now. DOES ANYONE know the effect of a US crisis on the dollar-baht exchange rate?! I assume it makes the dollar weaker, but maybe it has the opposite side effect?

Make up your mind:

1 $ buys xxx Baht

Could look a lot worse...

LaoPo

[VegasVic]

Thai markets open in about 3 hours from this post. Should I go to the bank now and wire my dollars to my Thai fiancee's account? We're developing some land and I was waiting to send her the money because the Thai baht has been steadily falling against the dollar for a while now. DOES ANYONE know the effect of a US crisis on the dollar-baht exchange rate?! I assume it makes the dollar weaker, but maybe it has the opposite side effect?

I would be very careful assuming anything about the currency market, especially when it concerns the baht. If it is any help the Baht/Dollar rate yesterday was 34.54 and today it is 34.73! Should the BOT run out of ways to prop up the baht, it could make a fairly quick move to the 40+ range, especially if the FED does start increasing rates later this year or ealy next. There is an old saying on Wall Street that is right 9 times out of 10 "The trend is your friend" , and the trend for the Dollar has been up as of late.

[PeaceBlondie]

The media reports that the dollar is down slightly in value against major currencies. The baht is not major, and the fluctuations this month are probably not going to make the baht much stronger. If anything, the opposite.

[fyaman001]

i am showing that the baht gained half a baht to the dollar as a result of yesterdays news (was 34.72 baht to the dollar now is 34.23). However, i would expect that the Asian markets will continue to be affected by the US trouble and the baht may swing back the other way.....................its a crap shoot; make a choice and hope for the best...

[chiang mai]

Well it all depends on which set of exchange rates you want to use because they all seem to vary quite significantly at present. Onshore bank rates from Bangkok Bank and Kasikorn say one thing whilst offshore says something completely different and even Oanda and XE can't even begin to agree on the offshore. But those things notwithstanding, the USD looks to me as though it has continued its upwards path, against GBP at least (and against THB by default) so I continue to look for 35 baht to the USD (onshore) before year end, goodness only knows what the offshore will be, 35.8? I got out of USD yesterday simply to lock in profit ahead of all the turmoil and ahead of the Fed rate meeting where I thought there was a chance that the Fed might lower rates. That has happened so it's onwards and upwards again and I shall buy back in today.

Edited September 16, 2008 by chiang mai