Thai Baht Too High Says Chamber Of Commerce

[kalbo123]

Baht too strong says chamber

Published: 2/06/2009 at 01:31 PM The baht is currently too strong at 34 to the US dollar and the Bank of Thailand should step in to stabilise it at a realistic rate, Archava Taolanond, honorary chairman of the Thai Chamber of Commerce, said on Tuesday.

Mr Archava suggested the central bank maintain the currency at a suitable rate of 37 baht the US dollar.

That would give the export sector a much needed boost.

Asked about the government’s policy to replace price-pledging for agricultural products with a price insurance system, Mr Archava said it was a good idea because it would free up budget funding for other projects.

He stressed, however, that any price insurance scheme must be totally transparent and free of corruption.

[pkrv]

Baht too strong says chamber

Published: 2/06/2009 at 01:31 PM The baht is currently too strong at 34 to the US dollar and the Bank of Thailand should step in to stabilise it at a realistic rate, Archava Taolanond, honorary chairman of the Thai Chamber of Commerce, said on Tuesday.

Mr Archava suggested the central bank maintain the currency at a suitable rate of 37 baht the US dollar.

That would give the export sector a much needed boost.

Asked about the government's policy to replace price-pledging for agricultural products with a price insurance system, Mr Archava said it was a good idea because it would free up budget funding for other projects.

He stressed, however, that any price insurance scheme must be totally transparent and free of corruption.

A bit behind the times USD is like dead meat

[12DrinkMore]

Baht too strong says chamber

Published: 2/06/2009 at 01:31 PM The baht is currently too strong at 34 to the US dollar and the Bank of Thailand should step in to stabilise it at a realistic rate, Archava Taolanond, honorary chairman of the Thai Chamber of Commerce, said on Tuesday.

Mr Archava suggested the central bank maintain the currency at a suitable rate of 37 baht the US dollar.

Surely this man knows what the BoT's policy is? And the USD is not the main topic, although obviously still has a major effect.

I, for one, will be very pleased once the USD has collapsed out of it's position as the reserve currency. It is time that the world's economy is not subject to the destructive policies of the great US of A.

[hhgz]

"It is time that the world's economy is not subject to the destructive policies of the great US of A."

Which currency would you propose to use in place of the USD as the foreign reserve mainstay?

[BigSnake]

Baht too strong says chamber

Published: 2/06/2009 at 01:31 PM The baht is currently too strong at 34 to the US dollar and the Bank of Thailand should step in to stabilise it at a realistic rate, Archava Taolanond, honorary chairman of the Thai Chamber of Commerce, said on Tuesday.

Mr Archava suggested the central bank maintain the currency at a suitable rate of 37 baht the US dollar.

That would give the export sector a much needed boost.

Asked about the government’s policy to replace price-pledging for agricultural products with a price insurance system, Mr Archava said it was a good idea because it would free up budget funding for other projects.

He stressed, however, that any price insurance scheme must be totally transparent and free of corruption.

Bet Mr. Archava want have a job very long he will be gone within the next two or three months.

[Texpat]

I'll gladly take my bucks over your pounds vis a vis the baht over the past year or so...

Ta.

Edited June 6, 2009 by Texpat

[midas]

"It is time that the world's economy is not subject to the destructive policies of the great US of A."

Which currency would you propose to use in place of the USD as the foreign reserve mainstay?

you honestly believe that the rest of the world is going to just sit back and let the US spend trillions

it can not afford every year - how much money is Obama going to burn through in his four year term?

[Merangue]

"It is time that the world's economy is not subject to the destructive policies of the great US of A."

Which currency would you propose to use in place of the USD as the foreign reserve mainstay?

I vote for the Great British Pound

[12DrinkMore]

I vote for the Great British Pound

Oh gawd, not that unpredictable yo-yo, didn't it just go down a few percent over a day because of Brown's collapsing government?

Nope, I was thinking more along the lines that the Chinese are now moving to, with currency swaps between individual trading countries. So if the Great Consumer wants to buy Mercedes, then EUR have to be payed. Or if they want new ldc TVs from the World's Producer, then they have to find a few Juan to pay the bill and not simply print more USDs.

And then the oil. If the Arabs bring out their own currency, then everybody has to pay them in that. Surely a lot of the fluctuation would be taken out of the equation?

The whole thing is incredibly complicated, but the world needs a way of protecting itself from the USA, whose leaders reckon they can do what the hel_l they like.

[Texpat]

Yeah, it's called the sole superpower perogative.

Doncha just hate it?

[Jing-jo]

shouldn't that be "ARSE-sole super power prerogative "

and just like a bunch of girls you're always changing your mind

and sticking your arse wiping fingers where they are not wanted!!

should have learnt by now not to leave your self wide open for reply like that

"Oh I forget your from texas where everything is bigger!"

especially the gap between your ears and the gap between your girly buttocks

[Jing-jo]

just yank-ing your chain

couldn't resist it

[Texpat]

What makes you think I'm from Texas?

Are you from Jingbao, China?

[Merangue]

I do not trust the stability of the Euro at all. Far too many factions and i suspect it will eventually change its structure once again. Who knows what that will do to its currency? What would happen as an example if Turkey joins?

I definitely do not trust anything the Chinese say in regard to their economy.

Outside of the US dollar i cannot think of any other currency that could conceivably take its place.

The thought of dealing in a global market with different currencies on a daily basis makes me shiver.

Nope i suspect the US dollar is here to stay for a good long time.

[Carmine6]

I do not trust the stability of the Euro at all. Far too many factions and i suspect it will eventually change its structure once again. Who knows what that will do to its currency? What would happen as an example if Turkey joins?

I definitely do not trust anything the Chinese say in regard to their economy.

Outside of the US dollar i cannot think of any other currency that could conceivably take its place.

The thought of dealing in a global market with different currencies on a daily basis makes me shiver.

Nope i suspect the US dollar is here to stay for a good long time.

As long as oil is priced in dollars and the US is the biggest import market, the US dollar is going to be the dominant currency for trade. But that doesn't mean the share of trade in other currencies won't rise.

What China is doing now is not as transparent. They're buying stuff now - iron ore, oil, copper, etc. They're investing in mining companies and the actual commodities. They got screwed when they were holding so many dollars and oil, steel, wheat, rice, etc. prices shot through the roof the last few years. So now, they're cutting out the middle man and buying while prices are cheaper. Basically they're choosing the alternative "currency" of oil and materials. It's a stealth way of moving out of the dollar without moving into another currency. China can stop with the calls for an international trade currency and Geithner doesn't have to keep being laughed at for saying the US has a strong dollar policy.

[Chunkton]

I'll gladly take my bucks over your pounds vis a vis the baht over the past year or so...

Ta.

Hi Texpat, have a read of this with an antidepressant while you are gloating about your declining empire:

US Destined to become the UK of the 21st Century

[Lopburi99]

What makes you think I'm from Texas?

Are you from Jingbao, China?

[Lopburi99]

"It is time that the world's economy is not subject to the destructive policies of the great US of A."

Which currency would you propose to use in place of the USD as the foreign reserve mainstay?

you honestly believe that the rest of the world is going to just sit back and let the US spend trillions

it can not afford every year - how much money is Obama going to burn through in his four year term?

The newest addition to the Obama/Democratic spending plan will be another $1.5 Trillion (over 10 years) for the new national health coverage which O wants voted in before year end. I swear, he is like a manic penniless kid going wild after getting a $10,000 line of credit card in the mail (I remember this happening to me many years ago). Trillions of dollars, why not quadrillions? A trillion is one thousand billions for Crikes Sake! And soon O will be spending total beyond the $3 Trillion amount. $3,000,000,000,000! Can't count that many zeros! I've learned in my old age there is always a day of reckoning for irresponsible behavior. Scares me what may be in store.

Edited June 8, 2009 by Lopburi99

[Jing-jo]

What makes you think I'm from Texas?

Are you from Jingbao, China?

Nope but I would rather come from anywhere but somewhere where there's only steers and queers

and as you don't have horns you know what you must be

Name hat avatar etc etc sort of gives a clue unless your a wanna be queer

and it appears Jing Bao China seems to be doing a lot better than most of the crumbling behemoth that is the United States of Apathy

cheers or as you septic tanks say "Have a nice day ya'll!"

[jdrake72]

Baht too strong says chamber

Published: 2/06/2009 at 01:31 PM The baht is currently too strong at 34 to the US dollar and the Bank of Thailand should step in to stabilise it at a realistic rate, Archava Taolanond, honorary chairman of the Thai Chamber of Commerce, said on Tuesday.

Mr Archava suggested the central bank maintain the currency at a suitable rate of 37 baht the US dollar.

Surely this man knows what the BoT's policy is? And the USD is not the main topic, although obviously still has a major effect.

I, for one, will be very pleased once the USD has collapsed out of it's position as the reserve currency. It is time that the world's economy is not subject to the destructive policies of the great US of A.

Look,China has proposed to use an artificial currency (a basket of few important currencies) to be used in international trade.

This fact if happens one day -per se- doesn't imply a devaluation of the US dollar: for example look at the % of int. reserves in Swiss Francs or its use in international trade:almost zero, but it is a quite strong and stable currency.

The use of USD as international currency is useful for a certain group of people who can manipulate the world financial system more easily, but i don t see any real benefit for the US economy itself.

Maybe just the opposite.

If FED stops to print massively inorganic (not produced by the economy) USD massively to fill the world with green sheets, the US imbalances could be less severe and more easy to handle and maybe the value of the USD could be higher, not lower.

So, theorically, if USD in a process of several years is replaced as int. currency, it doesn t imply it will go at 2 or 3 for 1 euro.

USD could suffer temporarely if China and Japan start to sell US Bonds massively, but China and Japan will be the first losers too,so China is trying to diversify its reserves slowly, but it cannot sell out its US reserves, it is just screaming to send a signal to US Administration to stabilize the dollar coz it fears for the value of its reserves.

The imbalances and massive money pritings are the cause of the USD weakness, its eventual losing role as currency reserve wouldn t be so.

Edited June 20, 2009 by jdrake72

[jdrake72]

Regarding the THB, of course, it is overvalued.

Thailand is losing competitivness in many factors:political instability, low interest rate, a collapse of the economy and internal consumption, a not renewed quality (aggregated value) of its products...it doesn t give the conditions and the quality to its products to support this value of the THB.

India for example is still growing at about 5% (Thailand -4% ,but maybe it will be worse) , India inflation rate is lower (this month negative), interest rate much higher (4.75% against 1.25%) nevertheless the rupiah has collapsed vs. the THB...

you think what happen to a certain gamma of products where Thailand and India are competitors for exports ?

Extend it to Thailand-South korea or to most of neighbour countries or other export-based economies where the economies hasn t plunged so much like Thailand's, where politics are more stable, where their currencies are all much cheaper vs, THB than in 2008....

Now trade is still very low everywhere, but as soon as the int. trade will recover, the lack of competitivness of Thailand in the export system will be very evident and the calls for a THB devaluation will increase.

Add the public debt balooning to the equation:THB at this rate is simply not sustainable, despite the BOT stubborness on keeping THB almost pegged to the Singaporean Dollar , there will be a breaking point when this managed pseudo-peg has to be broken...

it happened 12 years ago and it will happen again. When ? I cannot say. Theorically, they can follow like this for quite awhile, since International Reserves of Thailand are very robust, but they are peaking.

Edited June 20, 2009 by jdrake72