What Is Going On With Euro - Thb, Other Rates?

[Portlandstone]

Just from yesterday the Euro dropped from 47.16 now at 46.8. Just a few days ago it was at 47.2. Just to give you an understanding of what I'm talking about, each 0.1 drop leaves me about 500 to 600 baht poorer, and I'm only talking about 4860 euro. I read on here that a few months ago it was at 48.5 ~ 49. I'm not a European, just have the cash. I see the US dollar is down in the 32 range.

I wonder if any thailand banks out there will hold onto my Euro cash as is (not transfer it into thb), but I only have tr visa.

[Samuian]

Well 12 years ago it was the other way around!

Havent heard anyone saying "where is the baht diving to?

Before then he value to the US$ was 24 ThB rather stable for years!

The Euro didn't exist then, but one German Mark (f.E.) at the time used to buy 14-16 Baht

(Exchange rate to the Euro was 1.99) so today one does really well with 46-49....

Stop complaining, whingin... all shortens the time for fun and time to enjoy life!

[SeanMoran]

Well 12 years ago it was the other way around!

Havent heard anyone saying "where is the baht diving to?

Before then he value to the US$ was 24 ThB rather stable for years!

The Euro didn't exist then, but one German Mark (f.E.) at the time used to buy 14-16 Baht

(Exchange rate to the Euro was 1.99) so today one does really well with 46-49....

Stop complaining, whingin... all shortens the time for fun and time to enjoy life!

Yup, the AUD seems to have just risen above the 30 THB mark after spending ('scuse pun) the Christmas holidays in the 29 range, (according to xe.com), and that was on par with 2549 (2006) rates from memory, for which I am personally quite well gladdened to put it as comically as I can come up with in five seconds, because it's not really fair on Thailand, where I am, that what used to buy me 20 baht in 2540 (1997); an aussie dollar; now gets me 30 once more, as it did in 2548 (2005).

Still, while I await the next pension payment after a good lot of Christmas/New Year spirit in the guise of a happy consumer (aka not far off stony broke), I have to be technically grateful that the AUD is so comparatively high right now against the baht, even though I know it's morally wrong and unjust towards the place I call home tonight, and not really what I should be advocating regarding the betterment of all mankind and all that wonderful altruistic nonsense, but I could do with a little cheering up, and right now 30:1 for THB:AUD might be capable of providing that belated Christmas cheer, so I'm not going to get all worldlily harmonical about it just right now.

[lannarebirth]

There are currently some rumors circulating that markets will fluctuate. Hope that helps.

[churchill]

Stark Says Markets Can’t Assume Rest of EU Will Rescue Greece

http://www.bloomberg.com/apps/news?pid=206...id=a.4cGz1tLfU4

This along with problems in Spain/Ireland as well as Iceland are probably giving the Euro a negative push

[givenall]

You are still lucky, my $$ went from 37 to under 33. It is more than 10% loss for me

[GuestHouse]

There are currently some rumors circulating that markets will fluctuate. Hope that helps.

It's only the 6th of January and but I think you can be assured of having secured the awards for:

Most non committed post of 2010

The post that told us nothing new Award for 2010

and

The Blatently Obvious and therefore unnecessary post of 2010.

Edited January 6, 2010 by GuestHouse

[lannarebirth]

There are currently some rumors circulating that markets will fluctuate. Hope that helps.

It's only the 6th of January and but I think you can be assured of having secured the awards for:

Most non committed post of 2010

The post that told us nothing new Award for 2010

and

The Blatently Obvious and therefore unnecessary post of 2010.

I was shooting for sarcasm, but I think that may fall under your third award.

[chiang mai]

There are currently some rumors circulating that markets will fluctuate. Hope that helps.

It's only the 6th of January and but I think you can be assured of having secured the awards for:

Most non committed post of 2010

The post that told us nothing new Award for 2010

and

The Blatently Obvious and therefore unnecessary post of 2010.

I was shooting for sarcasm, but I think that may fall under your third award.

I liked it and thought it was an appropriate answer given the nature of the question.

[Naam]

There are currently some rumors circulating that markets will fluctuate. Hope that helps.

It's only the 6th of January and but I think you can be assured of having secured the awards for:

Most non committed post of 2010

The post that told us nothing new Award for 2010

and

The Blatently Obvious and therefore unnecessary post of 2010.

it is only 6th of january GuestHouse but you can be assured that you have secured the 2010 award "TV poster possessing the least quantity of humour".

now go beat up your wife

or

kick your dog

or

throw stones at passing by little old ladies

or

count the needles of the pine tree in my front garden (the decorated one, left of the entrance).

[12DrinkMore]

Yup, the AUD seems to have just risen above the 30 THB mark after spending ('scuse pun) the Christmas holidays in the 29 range, (according to xe.com), and that was on par with 2549 (2006) rates from memory, for which I am personally quite well gladdened to put it as comically as I can come up with in five seconds, because it's not really fair on Thailand, where I am, that what used to buy me 20 baht in 2540 (1997); an aussie dollar; now gets me 30 once more, as it did in 2548 (2005).

Still, while I await the next pension payment after a good lot of Christmas/New Year spirit in the guise of a happy consumer (aka not far off stony broke), I have to be technically grateful that the AUD is so comparatively high right now against the baht, even though I know it's morally wrong and unjust towards the place I call home tonight, and not really what I should be advocating regarding the betterment of all mankind and all that wonderful altruistic nonsense, but I could do with a little cheering up, and right now 30:1 for THB:AUD might be capable of providing that belated Christmas cheer, so I'm not going to get all worldlily harmonical about it just right now.

Didn't quite follow exactly what you are trying to express. The AUD has recovered as the economy is strong, the banks didn't screw the tax payers, the government didn't have an orgy of printing money and the interest rates have been raised.

The EUR is currently out of favour and the speculators are pushing it down on expectations that the PIGS (Portugal, Italy, Ireland, Greece and Spain) will have economic difficulties.

Thailand, being a nation dependent on exports and tourism, does not want a strong THB.

[SeanMoran]

Yup, the AUD seems to have just risen above the 30 THB mark after spending ('scuse pun) the Christmas holidays in the 29 range, (according to xe.com), and that was on par with 2549 (2006) rates from memory, for which I am personally quite well gladdened to put it as comically as I can come up with in five seconds, because it's not really fair on Thailand, where I am, that what used to buy me 20 baht in 2540 (1997); an aussie dollar; now gets me 30 once more, as it did in 2548 (2005).

Still, while I await the next pension payment after a good lot of Christmas/New Year spirit in the guise of a happy consumer (aka not far off stony broke), I have to be technically grateful that the AUD is so comparatively high right now against the baht, even though I know it's morally wrong and unjust towards the place I call home tonight, and not really what I should be advocating regarding the betterment of all mankind and all that wonderful altruistic nonsense, but I could do with a little cheering up, and right now 30:1 for THB:AUD might be capable of providing that belated Christmas cheer, so I'm not going to get all worldlily harmonical about it just right now.

Didn't quite follow exactly what you are trying to express. The AUD has recovered as the economy is strong, the banks didn't screw the tax payers, the government didn't have an orgy of printing money and the interest rates have been raised.

The EUR is currently out of favour and the speculators are pushing it down on expectations that the PIGS (Portugal, Italy, Ireland, Greece and Spain) will have economic difficulties.

It's okay. I understand. In fact I was merely replying to Samuian's words of consolation, so it was not my intention for you to follow exactly what I expressed in that early post, but I agree with your sentiments regarding Australia with the one exception of Australian banks screwing the taxpayers. Actually, I'd hazard a guess that before long there will be three year BA (Screw Taxpayer) degrees offered at the learning institutions in Australia, but that is why the smart money is overseas right now.

Thailand, being a nation dependent on exports and tourism, does not want a strong THB.

PS: When one AUD bought 20 THB, Thailand was doing quite fine with exports and tourism. I believe that Thailand would prefer the pre-WWCC-I (aka Asian Currency Crisis) exchange rates to these post WWCC-II outcomes, although I know that anyone can find a few people employed by the tourism industry or its derivatives who will tell you otherwise regarding the demise of the USD.

Edited January 6, 2010 by SeanMoran

[el jefe]

There are currently some rumors circulating that markets will fluctuate. Hope that helps.

It's only the 6th of January and but I think you can be assured of having secured the awards for:

Most non committed post of 2010

The post that told us nothing new Award for 2010

and

The Blatently Obvious and therefore unnecessary post of 2010.

I was shooting for sarcasm, but I think that may fall under your third award.

I liked it and thought it was an appropriate answer given the nature of the question.

I thought LannaRB's post was spot on and wa disappointed I didn't think of that first. If he hadn't beaten me to it, I was going to post:

It's volatility. That's why some people buy Euros while others sell them.

[lannarebirth]

To answer the OP's original questions, of "what is going on"? The THB is strengthening against western currencies, probably for the reasons BM Abrak has elucidated in several posts in this subforum. As for the Euro account. Yes you can get one here, though Thai banks aren't very good at foreign currency accounts. You will have to convert to baht to withdraw or pay a "commission". You can probably get one even on your tourist visa. If the first bank says no, the next one probably will say yes.

[madmitch]

To answer the OP's original questions, of "what is going on"? The THB is strengthening against western currencies, probably for the reasons BM Abrak has elucidated in several posts in this subforum. As for the Euro account. Yes you can get one here, though Thai banks aren't very good at foreign currency accounts. You will have to convert to baht to withdraw or pay a "commission". You can probably get one even on your tourist visa. If the first bank says no, the next one probably will say yes.

It's not just against Western currenies.

For a long time the baht has always been about 10 to 1 Malaysian Ringgit. I see it is now below 9.

The Baht does seem too strong at the moment

[Naam]

Thailand, being a nation dependent on exports and tourism, does not want a strong THB.

Ms. Tarisa and her colleagues at the Bank of Thailand beg to differ from your opinion and act accordingly

[mahtin]

I have obtained a Tarisa doll and am now sticking pins in it.

[Naam]

I have obtained a Tarisa doll and am now sticking pins in it.

[sharecropper]

Thailand, being a nation dependent on exports and tourism, does not want a strong THB.

Ms. Tarisa and her colleagues at the Bank of Thailand beg to differ from your opinion and act accordingly

Maybe she should do somethigng about it? I have believed the Baht has been kept artificially high for a couple of years now.

I just cannot comprehend it, and being a Brit, and transferring in GBP, this isn't just a theoretical concern.

[orlov]

No one seems to have mentioned the collapse of the British pound and what us poor old whingeing pome have had to suffer. Three years ago one pound bought 71 baht, now it buys about 52!! Still, serves us all right for voting Labour for the last 12 years (though not me I hasten to add). But to answer the original question, yes the Thai baht is extremely strong at the moment despite all the political shenanegans in Thailand. Probably because, not only can the country feed itself but it's the single largest exported of rice in the world, which is no mean achievement. Furthermore, the banks are solid and extremely prudent in their lending policies so no queues of panicking Thai customers wanting to pull out all their savings in case they lose them all, like in the UK for example. No, the Thai economy isn't immune to the world-wide recession, but all thing considered Thailand has done pretty well for itself and that is reflected in the strength of it's currency.

[mommysboy]

No one seems to have mentioned the collapse of the British pound and what us poor old whingeing pome have had to suffer. Three years ago one pound bought 71 baht, now it buys about 52!! Still, serves us all right for voting Labour for the last 12 years (though not me I hasten to add). But to answer the original question, yes the Thai baht is extremely strong at the moment despite all the political shenanegans in Thailand. Probably because, not only can the country feed itself but it's the single largest exported of rice in the world, which is no mean achievement. Furthermore, the banks are solid and extremely prudent in their lending policies so no queues of panicking Thai customers wanting to pull out all their savings in case they lose them all, like in the UK for example. No, the Thai economy isn't immune to the world-wide recession, but all thing considered Thailand has done pretty well for itself and that is reflected in the strength of it's currency.

What rubbish!

The baht is overvalued, the pound deliberately undervalued, the dollar about right, and the Euro heading for rather a big fall.

Great! nice we got that sorted! let's close another inconsequental thread!