Thai Baht Gains On Capital Inflows & Central Bank’S Statement

[churchill]

Thai Baht Gains on Capital Inflows & Central Bank’s Statement

The Thai baht gained today as the outlook for the economic growth in Asia increased the inflows of the global funds in the region and after the central bank suggested that it wouldn’t limit the currency’s appreciation.

Thailand’s central bank said that it’s “not concerned” with the baht’s gains as long as the baht moves in line with other Asian currencies. The Asian developing economies expected to expand 9.2 percent this year, attracting more and more investors to the region.

USD/THB fell from 31.55 to 31.49 today as of 8:27 GMT, following the advance to 31.65.

http://www.topforexnews.com/2010/08/20/thai-baht-gains-on-capital-inflows-central-banks-statement/?utm_source=twitterfeed&utm_medium=twitter

[schmutzie]

Tell me about it. Had been monitoring closely until up about a week ago, when everything was on the up.

Now, checking back today, the two currencies I hold have gone down. In one case by almost 5%.

I'll loose 6000THB on one transfer. And that's just if it holds where it is now. It's depressing.

Peanuts to some. Money to a lot of others.

I'm kicking myself for not doing these transfers 2 weeks back which I could have.

I think I'm gonna go have a nice strong drink somewhere.

[12DrinkMore]

Tell me about it. Had been monitoring closely until up about a week ago, when everything was on the up.

Now, checking back today, the two currencies I hold have gone down. In one case by almost 5%.

I'll loose 6000THB on one transfer. And that's just if it holds where it is now. It's depressing.

Peanuts to some. Money to a lot of others.

I'm kicking myself for not doing these transfers 2 weeks back which I could have.

I think I'm gonna go have a nice strong drink somewhere.

Don't worry, in six months you will be pleased that you transferred at the current rate......