Downgrade Thb Currency Rating

[Marksamui]

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.

Maybe things will finally pick up for those with GBP. They have had so many protests etc. that it has to have an effect sooner or later!??

Link to story here:

http://uk.reuters.com/article/rbssFinancia...P48257020090414

Edited April 14, 2009 by Marksamui

[maechanman]

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.

Maybe things will finally pick up for those with GBP. They have had so many protests etc. that it has to have an effect sooner or later!??

Link to story here:

http://uk.reuters.com/article/rbssFinancia...P48257020090414

Well as soon as the protests ended yesterday the Baht was initially up against the USD by around 1%.

Lets hope it's less positive tomorrow when the markets open.

[nookiebear]

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.

Maybe things will finally pick up for those with GBP. They have had so many protests etc. that it has to have an effect sooner or later!??

Link to story here:

http://uk.reuters.com/article/rbssFinancia...P48257020090414

Well as soon as the protests ended yesterday the Baht was initially up against the USD by around 1%.

Lets hope it's less positive tomorrow when the markets open.

I just can't believe why the baht seems to just keep the same value no matter what is happening to the economy.......

[Naam]

Downgrade Thb Currency Rating

for the record: topic title is misleading. not the currency was downgraded but "local currency credit rating". big difference.

[Lasic1]

Yah it means no one wants to buy up their currency making it less valuable. As this economy tanks the baht will have to adjust and devalue against more stable forex. The question is how far it will fall. Some well off Thais have been selling baht and buying dollars. Maybe a preview of what is to come for the devaluing of the baht.

Downgrade Thb Currency Rating

for the record: topic title is misleading. not the currency was downgraded but "local currency credit rating". big difference.

[Naam]

Yah it means no one wants to buy up their currency making it less valuable.

true! we see every day how less valuable the Baht gets. nobody wants to buy or even use Baht in possession. everybody in Thailand, and that includes the foreigners, is insisting to use other currencies than Baht. my guess is that the Baht will soon be totally worthless and will be replaced by either Pound Sterling or Angolan Kwanza. the aliens from the Delta quadrant who abducted me told me so

[palm]

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.

Maybe things will finally pick up for those with GBP. They have had so many protests etc. that it has to have an effect sooner or later!??

Link to story here:

http://uk.reuters.com/article/rbssFinancia...P48257020090414

Well as soon as the protests ended yesterday the Baht was initially up against the USD by around 1%.

Lets hope it's less positive tomorrow when the markets open.

I just can't believe why the baht seems to just keep the same value no matter what is happening to the economy.......

Look up the value of exports compared to the value of imports.

Look up the dollar reserves that the Govt holds.

etc.

And all becomes clear. It is basic economics.

It will be interesting to see how the SET moves after the holidays.

[Naam]

Look up the value of exports compared to the value of imports.

Look up the dollar reserves that the Govt holds.

etc.

And all becomes clear. It is basic economics.

It will be interesting to see how the SET moves after the holidays.

why spoil wishful thinking and elusive dreams with facts?

[ChiangMaiFun]

Do you all think the GBP rate will be better tomorrow? any predictions?

[tw25rw]

It's creeping up slowly but we need a few more battle cries from Thaksin. I fly in Friday morning, so fingers crossed!

[Shotime]

Yah it means no one wants to buy up their currency making it less valuable.

true! we see every day how less valuable the Baht gets. nobody wants to buy or even use Baht in possession. everybody in Thailand, and that includes the foreigners, is insisting to use other currencies than Baht. my guess is that the Baht will soon be totally worthless and will be replaced by either Pound Sterling or Angolan Kwanza. the aliens from the Delta quadrant who abducted me told me so

How many kwanzas they want to let you go? I thought kwanza was a holiday of the harvest.

[micky44]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

[PCA]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

the baht today trades stonger (higher) against USD/EUR/AUD but weaker against GBP and JPY. Thai banks open or not, has nothing to do with what the baht does.

[micky44]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

the baht today trades stonger (higher) against USD/EUR/AUD but weaker against GBP and JPY. Thai banks open or not, has nothing to do with what the baht does.

no but if your in thailand at the moment with £, then you are getting the ex rate at money changes at the rate before the holiday started. when the banks open in nthe morning i think we will see a rather better ex rate than prior to the hols ?

[PCA]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

the baht today trades stonger (higher) against USD/EUR/AUD but weaker against GBP and JPY. Thai banks open or not, has nothing to do with what the baht does.

no but if your in thailand at the moment with £, then you are getting the ex rate at money changes at the rate before the holiday started. when the banks open in nthe morning i think we will see a rather better ex rate than prior to the hols ?

not sure about that one, depending on what current regulations say. Anyway as a rule anyone should avoid to use ATM or money changes on holidays and weekends.

Edited April 15, 2009 by PCA

[colino]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

the baht today trades stonger (higher) against USD/EUR/AUD but weaker against GBP and JPY. Thai banks open or not, has nothing to do with what the baht does.

no but if your in thailand at the moment with £, then you are getting the ex rate at money changes at the rate before the holiday started. when the banks open in nthe morning i think we will see a rather better ex rate than prior to the hols ?

Oh i hope so , any upward trend will do for me ,

Ps worset thing i did buy a stupid pickup on credit , never again

[rolypie]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

Status 5 chords Quo he he

[OnNutter]

theres only one way the thai bhat is going, and that is down!!!!we will have a better idea when the banks start tradeing tomorrow, contray to what many think thailand is not immune to this crissis, the rest of europe are trying to get out of the sh1t with various different measures, what is thailand doing? err , having running battles in there capital!!!err not good for incoming buiness, down down deeper and down, who sung that by the way?????????

Just for the record, it was Status Quo, pun intended!

[Naam]

Yah it means no one wants to buy up their currency making it less valuable.

true! we see every day how less valuable the Baht gets. nobody wants to buy or even use Baht in possession. everybody in Thailand, and that includes the foreigners, is insisting to use other currencies than Baht. my guess is that the Baht will soon be totally worthless and will be replaced by either Pound Sterling or Angolan Kwanza. the aliens from the Delta quadrant who abducted me told me so

How many kwanzas they want to let you go? I thought kwanza was a holiday of the harvest.

i refused to pay any money but they only set me free after i married one of their females. wrong choice. paying up would have been cheaper

[Naam]

1. theres only one way the thai bhat is going, and that is down!!!!

2. we will have a better idea when the banks start tradeing tomorrow

3. contray to what many think thailand is not immune to this crissis,

1. keep on having sweet dreams my friend, perhaps they come true.

2. no need for Thai banks to open to have a better idea. there are a zillion sources to check the rate THB vs. any major currency.

3. fairy tales don't come true no matter how often they are repeated. i have not seen a single posting which implied that Thailand is immune to the crisis.

[bdenner]

There must be 15 threads running at the moment on speculation about the Baht and boat loads over the last 12 months.

MOST OF THEM CONTAIN NOTHING BUT WISHFUL THINKING.

Give it a break!

[ChiangMaiFun]

There must be 15 threads running at the moment on speculation about the Baht and boat loads over the last 12 months.

MOST OF THEM CONTAIN NOTHING BUT WISHFUL THINKING.

Give it a break!

Hang on a minute this is a hot topic and loads of useful information and debate - when the threads started the GBP was 49 and now 53 - effectively giving me (for instance) an increase of 600,000 on my transfer. Why wouldn't people want to discuss it? yes some maybe wishful thinking and hoping but there's some very good comments in there particularly about devaluing and the effects. I might respectfully suggest if you don't want to read about it skip the thread and give yourself the 'break' that you crave?

[jdrake72]

THB current value is the biggest scam in the history of financial system

We have a country disintegrated both economically (the most optimistic forecasts now are -5% for 2009 GDP) and politically (coup d etates, civil war in the south, war with Cambodia, repression, martial law, emergency rule),

one of the lowest interest rates in the region, one of the worst economies, the worst politics for sure, one of the least friendly laws for foreigner investment, all agencies downgrading the country risk and currency credit rating,

budget deficit growing bigger and bigger, : an authentic and total disaster in all fronts...

Sooner or later, The THB will plunge in a way that will make 1997 a joke... the current THB revaluation (at the begin of December 2008 was cheaper than now vs the USD !) is just a big scam ....the quitness before the storm...

economy is totally crushed already , the currency will follow... the more they delay by keeping this artificial value, the more will drop when they let it go...it happened 12 years ago and it will happen again...

[micky44]

cheers jdrake72, really cheered me up on a cold wet misserable day in the uk, i cant wait hehe, do you yhink it will happen by the end of may !!!!!!!!!!!!!!!!!!!!

[Naam]

THB current value is the biggest scam in the history of financial system

We have a country disintegrated both economically (the most optimistic forecasts now are -5% for 2009 GDP) and politically (coup d etates, civil war in the south, war with Cambodia, repression, martial law, emergency rule),

one of the lowest interest rates in the region, one of the worst economies, the worst politics for sure, one of the least friendly laws for foreigner investment, all agencies downgrading the country risk and currency credit rating,

budget deficit growing bigger and bigger, : an authentic and total disaster in all fronts...

Sooner or later, The THB will plunge in a way that will make 1997 a joke... the current THB revaluation (at the begin of December 2008 was cheaper than now vs the USD !) is just a big scam ....the quitness before the storm...

economy is totally crushed already , the currency will follow... the more they delay by keeping this artificial value, the more will drop when they let it go...it happened 12 years ago and it will happen again...

as the lion share of my expenses is in Thai Baht i would highly appreciate if your predictions come true. but as most of your arguments are flawed combined with the fact that i am a realist prevent me to share wet dreams

[neil324]

THB current value is the biggest scam in the history of financial system

We have a country disintegrated both economically (the most optimistic forecasts now are -5% for 2009 GDP) and politically (coup d etates, civil war in the south, war with Cambodia, repression, martial law, emergency rule),

one of the lowest interest rates in the region, one of the worst economies, the worst politics for sure, one of the least friendly laws for foreigner investment, all agencies downgrading the country risk and currency credit rating,

budget deficit growing bigger and bigger, : an authentic and total disaster in all fronts...

Sooner or later, The THB will plunge in a way that will make 1997 a joke... the current THB revaluation (at the begin of December 2008 was cheaper than now vs the USD !) is just a big scam ....the quitness before the storm...

economy is totally crushed already , the currency will follow... the more they delay by keeping this artificial value, the more will drop when they let it go...it happened 12 years ago and it will happen again...

as the lion share of my expenses is in Thai Baht i would highly appreciate if your predictions come true. but as most of your arguments are flawed combined with the fact that i am a realist prevent me to share wet dreams

Oh come on the current strength isn't based on fundamentals. The Baht isn't the Yen you know.

[Naam]

Oh come on the current strength isn't based on fundamentals. The Baht isn't the Yen you know.

so you think the ¥EN fundamentals are strong? please name a few of these fundamentals.

[neil324]

Oh come on the current strength isn't based on fundamentals. The Baht isn't the Yen you know.

so you think the ¥EN fundamentals are strong? please name a few of these fundamentals.

I meant the perceived safety in the Yen, like the Dollar and Swissy. But hey i won't avoid a question unlike some. The Yen appricieated because the carry trade unwinded and the flight to safety.

Edited April 18, 2009 by neil324

[Naam]

Oh come on the current strength isn't based on fundamentals. The Baht isn't the Yen you know.

so you think the ¥EN fundamentals are strong? please name a few of these fundamentals.

I meant the perceived safety in the Yen, like the Dollar and Swissy. But hey i won't avoid a question unlike some. The Yen appricieated because the carry trade unwinded and the flight to safety.

apart from the nowadays Swissy = BINGO!

[lannarebirth]

If one places themselves at the mercy of the market, it is important to listen to what the market is telling one.