Thank You Pad: Whatch The Baht Go To Crap

[Dakhar]

I looked at the Baht exchange this morning.....

Thank you PAD

[goonerthegooner]

Keep the demo's going PAD,,good for all, as the Baht gowns down hill fast.

Maybe 70-75 too the Quid by Jan??.

[canuckamuck]

It's about time

[Ricardo]

It's about time

Seconded !

But actually, looking at the rates over the past few days, I see hardly any movement at all ? Someone at the BoT must be spending an awful lot of their reserves, in order to maintain the strength of the Baht, through times like these.

[Mosha]

It sounds like the OP would rather have a strong Baht than have people keeping their jobs.

[Geekfreaklover]

Last three days not changed against the pound. Little bit of creative accountancy going on at the moment me thinks.

Will have to go southwards soon.

[Geekfreaklover]

It sounds like the OP would rather have a strong Baht than have people keeping their jobs.

I think it is a weaker, realistic Baht he is hoping for. As am I.

Thailand's two major industries, - Tourism and export benefit from a realistic exchange rate

[chiang mai]

I'm afraid that's unlikely to happen as far as GBP is concerned, the current move is limited and probably short lived due to a trading holiday in the US.

[Thailand]

Started using the money we had kept here for next years visa renewal about 6 weeks ago-You can use the us dollar equivalent of the baht visa requirements provided the us dollars are in a Thai bank.

I want as little as possible in a currency that is definitely going to come under massive pressure in the not too distant future. May be the one savior for the decimated tourist industry.

Had been trying to sell our house but that will have to go on the back burner for a while, can't see too many people wanting to invest here.

[Kerryd]

We were having a discussion about this in another thread: US Dollar Soars To 21-Month High Against Thai Baht in the News Clippings forum.

Looking at the charts, the baht hasn't lost much value recently, even with the current crisis. I checked as I was typing this, and against the US $ the baht has lost .2 (from 35.2 to 35.4 at the moment) since yesterday, and barely 1 baht to the US $ in over a month.

Hardly "gone to crap". I haven't been following the Euro or GBP rates, but against the Canadian $, the baht actually strengthened between August-November, and only lost a little bit over the last couple of days.

If the situation in Bangkok deteriorates and blood starts flowing in the streets, the story may change of course. If the situation is resolved peacefully (somehow), then it may well be that the baht isn't adversely affected at all (no more so than normal at least).

[canadianmonkey]

This is BS. 28baht for 1$ CAD but us is 35baht for 1$ USD

So far only canada is not getting the love.

[britmaveric]

$ is world's currency - makes sense!!!

[JimsKnight]

Baht starting to weaken, it will just take time, the longer the crisis, the better for weakening.

[mommysboy]

$ is world's currency - makes sense!!!

The bt does seem to be trading comically high. The full weight of the economic tsunami hasn't fully hit. Moreover Thailand is doing very well at making it's own waves. I think speculators have driven the bt right up. I'd hazard a guess there will a big move the other way quite soon. This past week has seen a major downgrade on the Thai economy.

60 -65 bt to pound within 3 months.

Could be higher if the economy really falters and that is possible, or the pund strengthens which is also possible as it's about as weak as it can be.

[dumball]

Hope the bhat drops like a lead ballon with a rock attached and takes the US$ with it , i might get above the poverty level yet, haven't had pea soup that turns green for quite a while , just the occassional fish head waved over it . LOL . 555

[Neeranam]

It sounds like the OP would rather have a strong Baht than have people keeping their jobs.

Very selfish attitude

[Familyonthemove]

... So it takes political miss-management of Zimbabwean proportions to enable the Pound to creep up a few Setangs .....

[dominator]

It sounds like the OP would rather have a strong Baht than have people keeping their jobs.

A too strong Baht means that many people including myself, will not be bringin money into Thailand...equals, loss of jobs.

A reduction in tourism due to the strong Baht...equals, loss o jobs.

[jdinasia]

... So it takes political miss-management of Zimbabwean proportions to enable the Pound to creep up a few Setangs .....

and even then it isn't related to politics in Thailand ... you have to watch the

baht usd

baht gbp

gbp usd

to get the real picture

[LoveDaBlues]

$$$ was getting stronger without this current situation. Now it will just go up quicker. 40 by August 2009.

[Bangyai]

Baht starting to weaken, it will just take time, the longer the crisis, the better for weakening.

Yes....and eventually they will see the light and devalue the baht. But not before you ( in the general sense ) will have not been forced to change a big wad of stirling to pay for some immediate necessity. Oh yes....you will exchange your stirling precisely one day before a surprise devaluation that you had given up waiting for....Sods Law.

[stingray]

It's about time

Be realistic: Do you really think that you gonna buy the houses, land, cars, etc for half of the price, because you get a better exchange rate? Imported goods, electronics, food etc. even gasoline will be twice of the price soon if the Baht goes to 70 or more. workers will cry for more salary. This theory never works.

[Los78]

Sadly it is not just the Baht that is being affected. A lot of people are now starting to count their losses due to the closure of a major link.

[mommysboy]

It's about time

Be realistic: Do you really think that you gonna buy the houses, land, cars, etc for half of the price, because you get a better exchange rate? Imported goods, electronics, food etc. even gasoline will be twice of the price soon if the Baht goes to 70 or more. workers will cry for more salary. This theory never works.

There's quite a glut of consumer products already that will need to be sold off, and oil is now very cheap.

So I think your analysis is mostly wrong. Tommy would indeed be much better off. Thailand is about to suffer quite a big crisis with consequential asset devaluation.

[Kerryd]

Well, in the last few days since this crisis has escalated, the baht is still holding steady vs the US $.

Currently sitting at 35.6 despite all the doom and gloom (though it looks to have lost a little against the Cdn $, but that could be just the Cdn $ strengthening, not the baht devaluing).

[JimmyTheMook]

I hope the bahts ass drops out over this