Business Worried About Strong Baht

[OZEMADE]

“The baht is now the strongest currency in Asean, forcing Thailand’s trade partners to ask for a price review. There is a concern that the buyers will cancel their advance purchasing deals in the next one or two weeks,” Unless they devalue the Baht. At present it will remain at Baht 33 to the U.S. Dollar.

Thailand is losing business especially in exports of rice as other countries can buy it cheaper elsewhere.

Source B/Post today.

Tourism is also down as tourists can get more for their money in other countries.

Tourism is down 15% on last year which is not good, as tourism was down 30% last year on 2008. In my view that is really a drop of 45% on 2008. Possibly why there are cancellations of hotel rooms at a rate of 1000 a day.

[octavedave]

I do hope this is true. I am well aware that alot of other currunies have dropped creating alot of the expats problems financialy including myself.

But the Baht artificialy staying high is a joke and just rubbing our noses in it.

[Jezz]

I do hope this is true. I am well aware that alot of other currunies have dropped creating alot of the expats problems financialy including myself.

But the Baht artificialy staying high is a joke and just rubbing our noses in it.

I second that! The exchange rate against the GB pound has ground my pension into the dust. Very worrying.

[Naam]

"At present it will remain at Baht 33 to the U.S. Dollar."

if the source is Bangkok Post then it is either an old quote or the journalist hasn't done his homework checking the latest exchange rates.

Edited March 21, 2010 by Naam

[LennyW]

I do hope this is true. I am well aware that alot of other currunies have dropped creating alot of the expats problems financialy including myself.

But the Baht artificialy staying high is a joke and just rubbing our noses in it.

I second that! The exchange rate against the GB pound has ground my pension into the dust. Very worrying.

Unfortunately that has little to do with the strength of the Baht and more to do with the piss poor performance of our beloved Pound!