Euro Minus 40 Today

[ESB7]

Siam Commercial burea de change in Cha am is 39.64 this morning....whoops, au voir, adios, auf weirdersein and averaderci amigos

[gotlost]

Always have been overrated.

[flying]

I think that is because of the 2 for 1 deal.

Now you get 1 Euro & one of the new DM's

[Pib]

Too bad the currency is going down as it has a definite lifestyle impact. And if the so called experts are right, the majority of them seem to be saying that the Euro has more near-term downside of another 5% (i.e., to around 1.19 Euro/Dollar).

[barryofthailand]

The Euro this morning at all Thai banks is 40.3175. All the currencies have gone down considerably, as the Thai Baht is the second strongest currency in Asia.

Barry

[ESB7]

The Euro this morning at all Thai banks is 40.3175. All the currencies have gone down considerably, as the Thai Baht is the second strongest currency in Asia.

Barry

Does that mean Cha am residents and tourists are loosing out and are the exception?

[Pib]

The Euro this morning at all Thai banks is 40.3175. All the currencies have gone down considerably, as the Thai Baht is the second strongest currency in Asia.

Barry

Not so sure about your statement of "all" the currencies have gone done considerably... I just looked at the Bangkok Bank TT rate the dollar closed at 32.20 baht/USD yesterday (13 May) afternoon after climbing from 32.12 at the beginning of the day. And this morning (14 May) the USD TT rate opened at 32.22. The Japenese Yen also appreciated in value to the baht.

[Ralf61]

The EURO is at 40.2x at the moment. See following link:

http://bankexchangerates.daytodaydata.net/default.aspx

Yesterday, a BMW manager told a TV reporter, he could cope with an 1:1,20 EUR/USD rate. Makes it essentially more easy to sell BMWs in the US and in China. Below that, it would get expensive to by raw materials and electronics (both usually traded in US-$).

Guess in some years, a lot of Europe tuk-tuk drivers will begging the Thais at Europe airports: "Taxi, Sir?", "Transport, Sir?", "Ladies, Sir?"

Good to know being living in a hard-currency country, isn't it?

P.S. working hard in the moment to switch focus of my business to China, getting paid in $$$

[tijnebijn]

Yes I think all of us who depend on the euro will have to tighten our budgets considerably .

Except those who have a spare of investments so they can sing this time out , but unfortunately

not of all us are in such a luxury position .

Below 35 to the baht probably needs me to go off my lazy ass cause the spare profit I make recently

is nihil if not totally vanished .

[Naam]

I think that is because of the 2 for 1 deal. Now you get 1 Euro & one of the new DM's

[thalassa2006]

Can anyone help

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

can you guide me as i am not a expert ..

Thalassa

[Ralf61]

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

If I knew:

1. I would quit doing hard real work

2. I would not tell you...

That's really hard to say, but I FEEL:

1. the Euro may go down somewhat more, but not much

2. it will take some time (even years) for the Euro to recover to 1:49

OR

the Euro will get terribly f%*&ed, and than we are all world wide f%*&ed, independend of the currency you are holding, except those who own a paid-off house and a rice field, with some mango trees around, plus tobacco for changing against some other usefull things. No kidding, if you are old enougth for having talked to the WWII generation in your youth...

Even gold would not do it, as everybody had to sell his gold holdings, causing the gold price dramatically crashing.

Are we one of those speculating gamblers , who caused all that world wide mess? What about buying some futures on rice, now in this draught season, or betting for the socker camp this year? It's all the same.

Cheers

Ralf

[rfukata]

here is the quote from Super Rich exchange in Bangkok; (google superrich Thailand and get rates)

this is one of the few places where you can get a favorable exchange rate

USD

United States

buy sell

100 32.25 32.33

50 32.20 32.33

20-10 32.10 32.23

5 32.00 32.23

1 31.50 32.23

EUR

European Union

500-100 40.50 41.50

50 40.40

20-5 40.30

GBP

United Kingdom

50 47.70 48.90

20-5 47.60

[goldfinger]

within 2 month the euro will give a rate at about 36.....

[snowgard]

within 2 month the euro will give a rate at about 36.....

And the pound 38,7

[el jefe]

Can anyone help

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

can you guide me as i am not a expert ..

Thalassa

The Euro is equally likely to go to 29 baht as it is to 49. Don't you remember when the Euro traded at a discount to the dollar?

[snowgard]

Can anyone help

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

can you guide me as i am not a expert ..

Thalassa

The Euro is equally likely to go to 29 baht as it is to 49. Don't you remember when the Euro traded at a discount to the dollar?

Shure, I can help you!!! Give the money to me and I will do my best for your good life!!!

[mommysboy]

I've had to follow the pound's slump, it came quite a bit before the Euro slump. My best guess is that the Euro still has a fair way to drop, perhaps by as much as 10%.

Generally, the Asian currencies will continue to strengthen, whereas the European currencies seem to be weakening of their own accord.

Not nice for us expats.

[ESB7]

Can anyone help

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

can you guide me as i am not a expert ..

Thalassa

If it was that easy we would all be millionaires. You should consider how long you can tie your money up as the Euro reaching 49 is going to be a long way off if it does. You will incur costs for switching which could be as high as 5% each time.

Its best practce to spread investments over at least three different currencies, the most popular being, $ U.S, Sterling and Euro

Currency speculation is anyones guesss as you just dont know what is around the corner

[Pib]

Can anyone help

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

can you guide me as i am not a expert ..

Thalassa

If it was that easy we would all be millionaires. You should consider how long you can tie your money up as the Euro reaching 49 is going to be a long way off if it does. You will incur costs for switching which could be as high as 5% each time.

Its best practce to spread investments over at least three different currencies, the most popular being, $ U.S, Sterling and Euro

Currency speculation is anyones guesss as you just dont know what is around the corner

I don't guess anymore; instead, I use the more accurate methods of drunken dart throws and flips of the coin.

[jackdawson]

i remember the euro

greece uses it right ?

[moo9]

Highest state deficits...US, UK, Japan.

Better watch those currencies. At this time is all Anglo/American's speculators who slam down the Euro. And for sure the Chinese who are the biggest money lender to the US.

The weak Euro will strengthen the Euro export industry which will have a positive impact on unemployment rates and tax revenues. In the mid term there will be much for trouble for the USD and the GBP.

[neil324]

Highest state deficits...US, UK, Japan.

Better watch those currencies. At this time is all Anglo/American's speculators who slam down the Euro. And for sure the Chinese who are the biggest money lender to the US.

The weak Euro will strengthen the Euro export industry which will have a positive impact on unemployment rates and tax revenues. In the mid term there will be much for trouble for the USD and the GBP.

You seen the stats for the PIGS, also France is in dire <deleted>.

[teletiger]

Highest state deficits...US, UK, Japan.

Better watch those currencies. At this time is all Anglo/American's speculators who slam down the Euro. And for sure the Chinese who are the biggest money lender to the US.

The weak Euro will strengthen the Euro export industry which will have a positive impact on unemployment rates and tax revenues. In the mid term there will be much for trouble for the USD and the GBP.

Are you trading real money on that prediction?

Goldman Sachs are now recommending shorting the Euro/$, with a target of 1.18. Given GS's recent record 1.30 is on the cards. Another ANALyst recently predicted .80/.85. Good luck to everyone.

Regards.

[Pib]

Too bad the currency is going down as it has a definite lifestyle impact. And if the so called experts are right, the majority of them seem to be saying that the Euro has more near-term downside of another 5% (i.e., to around 1.19 Euro/Dollar).

According to Bloomberg, the 4 Jun/Friday Euro/USD rate was 1.1967. And if so called same experts are right as I mentioned in my above 14 May post (I think the info came from a Bloomberg news article in early May which I thought provided solid facts and predictions), the Euro will pass through/below 1.19 this month and then continue down to around 1.15 before years end and then flatten out/stabilizes.

Of course a drunken dart throw or flip of the coin may be just as accurate a prediction on currency direction.

Edited June 5, 2010 by Pib

[khunjake]

The Euro is equally likely to go to 29 baht as it is to 49. Don't you remember when the Euro traded at a discount to the dollar?

Was in Paris when the US Buck went Parity with the Euro. Starting accumulating EUR since that point until 2008 and went back to USD around 1.5. Also remember when 1 EUR was trading at .83 US cents in 2000 and see no reason why the EUR can't go right back down there once again.

[EvilDrSomkid]

1 euro gets you 38.6 today. Dammit