Thai Baht - One Of The World’S Most Resilient Currencies?

[StreetCowboy]

....

Que sera, sera.

If you can't laugh in the face of adversity, when can you laugh?

I always used to enjoy watching Adversity Challenge, with Bamber Gascoigne. What greater adversity could a man face, than a name like that?

SC

And the fact that he fathered Paul is equally amazing!

Surprising, certainly. And, no doubt, as disappointing for Bamber as Paul. I assume they both claim he was adopted. Ideally, by someone else....

SC

Apologies for wandering off topic, but wasn't he adopted by Bambers mate V bellies?

Straying back on topic, in terms of resilience, you'll struggle to beat one of Paul Gascoigne's bouncing cheques. (Speculation!)

Some amongst us who lack a classical education may not realise that V bellies was a latin scholar.

SC

[smokie36]

Straying back to Bamber...was it really necessary to have the permed hairdo? Perhaps its an obscure English law?

[patongster]

Isn't the baht semi pegged to the US dollar?

[smokie36]

Isn't the baht semi pegged to the US dollar?

Bar room fantasy...

[janverbeem]

Isn't the baht semi pegged to the US dollar?

It was untill 1997.

[trevorg]

Isn't the baht semi pegged to the US dollar?

Bar room fantasy...

Semi pegged - a bar room fantasy - time to move this to pub?

[MB1]

A country that produces more than it uses will always have a strong currency. Thailand does this along with not being a socialist welfare country. Unfortunately the western countries have forgotten these simple economic facts.

So I guess they weren't producing enough in 1997 then since their currency devaluated by 50%.

Wish I was around Thailand in 1997, some people reported highs of 100 baht to the GB pound in January 1998.

Highest I remember getting was the 76 to 78 to the pound in August and December in 2004, I'd be happy to get back to those days but the highest I got was just over 49 in September and October of this year 2011, ah well dream on I guess, but one never knows, it could happen again.

Edited November 18, 2011 by MB1

[smokie36]

A country that produces more than it uses will always have a strong currency. Thailand does this along with not being a socialist welfare country. Unfortunately the western countries have forgotten these simple economic facts.

So I guess they weren't producing enough in 1997 then since their currency devaluated by 50%.

Wish I was around Thailand in 1997, some people reported highs of 100 baht to the GB pound in January 1998.

http://www.thaivisa....-exchange-rate/

Highest I remember getting was the 76 to 78 to the pound in August and December in 2004, I'd be happy to get back to those days but the highest I got was just over 49 in September and October of this year 2011, ah well dream on I guess, but one never knows, it could happen again.

Of interest to hear what changes people have seen in the quality of life of ordinary Thais since thier exchange rate has improved massively.....anyone noticed a big difference?

[StreetCowboy]

A country that produces more than it uses will always have a strong currency. Thailand does this along with not being a socialist welfare country. Unfortunately the western countries have forgotten these simple economic facts.

So I guess they weren't producing enough in 1997 then since their currency devaluated by 50%.

Wish I was around Thailand in 1997, some people reported highs of 100 baht to the GB pound in January 1998.

http://www.thaivisa....-exchange-rate/

Highest I remember getting was the 76 to 78 to the pound in August and December in 2004, I'd be happy to get back to those days but the highest I got was just over 49 in September and October of this year 2011, ah well dream on I guess, but one never knows, it could happen again.

Of interest to hear what changes people have seen in the quality of life of ordinary Thais since thier exchange rate has improved massively.....anyone noticed a big difference?

I'm guessing that the ordinary Thais I know will be suffering, since I mainly mix with expatriates. But then, the baht has been stable against other currencies, its the western currencies that have declined (allegedly). I don't know any Thais earning in Western currencies, though the expats in HK might be suffering.

SC

[poanoi]

It is not yet back where it use to be from at least 1990

~25 baht/dollar.

Thai baht went down 1997, but are still recovering

http://www.x-rates.c...bin/hlookup.cgi

http://www.x-rates.c...D/hist1997.html

Edited November 18, 2011 by poanoi

[MB1]

A country that produces more than it uses will always have a strong currency. Thailand does this along with not being a socialist welfare country. Unfortunately the western countries have forgotten these simple economic facts.

So I guess they weren't producing enough in 1997 then since their currency devaluated by 50%.

Wish I was around Thailand in 1997, some people reported highs of 100 baht to the GB pound in January 1998.

http://www.thaivisa....-exchange-rate/

Highest I remember getting was the 76 to 78 to the pound in August and December in 2004, I'd be happy to get back to those days but the highest I got was just over 49 in September and October of this year 2011, ah well dream on I guess, but one never knows, it could happen again.

Of interest to hear what changes people have seen in the quality of life of ordinary Thais since thier exchange rate has improved massively.....anyone noticed a big difference?

An interesting point, IMO the rich get richer while the poorer get poorer, IMO theirs a massive rich and poor divide in Thailand, a poor Thai earns Thai Baht and spends it as it's earned, rich Thais can afford to invest and not worry too much about increases in prices of food, utilities etc, just my opinion.

[janverbeem]

^ I can assure you that they are suffering.In 1997 the price of gasoline was 9 Baht.I haven't seen any western country where the gasoline went up 400% since 1997.

When gasoline rises,the price of all consumer goods rise accordingly.

[waza]

Of interest to hear what changes people have seen in the quality of life of ordinary Thais since thier exchange rate has improved massively.....anyone noticed a big difference?

I'm guessing that the ordinary Thais I know will be suffering, since I mainly mix with expatriates. But then, the baht has been stable against other currencies, its the western currencies that have declined (allegedly). I don't know any Thais earning in Western currencies, though the expats in HK might be suffering.

SC

They have access and own more of the latest technology EG: Phones, Village girls seem to have larger and more western homes and bike ownership is more common.

[BuckarooBanzai]

Intellectual rights have a lot to do with world economic growth. The US has been very generous in giving it away for free for decades. When the stuff hits the fan, and protection becomes law, perhaps growth patterns and monetary values will have need of some adjustment. And make no mistake, Europe is in the same boat as the Americans and will respond with equal vigor. The east are great copiers but their sense of creative intelligence results in 1000 ships driving a river. No offenses against Thailand as China is the greatest thief of technology of the last 100 years. Careful in proclaiming the winner in these early stages of the game as the battle, and a battle it is, is just beginning.

[MB1]

^ I can assure you that they are suffering.In 1997 the price of gasoline was 9 Baht.I haven't seen any western country where the gasoline went up 400% since 1997.

When gasoline rises,the price of all consumer goods rise accordingly.

Not exactly true when saying "all consumer goods rise accordingly". In 2004/2005 I could get a bottle of beer for 30 to 35 baht in Pattaya. I can and did get the same brand of beer for 35 baht in Pattaya September/October/November this year.

As for "poor" Thais suffering I have no doubt.

[gregb]

they prosper because they spend little to nothing on infrastructure, and even less on there people.

let's be realistic, the majority of thai people are not doing very well at all.

Throughout history the most stable social arrangements have always had the vast majority of the people barely scraping out a living. In a sustainable world there is enough for a few nobles and mostly peasants. And as long as the nobles don't get too greedy or oppressive this seems to work for a while until the land that is being farmed becomes infertile.

The fact is Thailand is doing well not because they are so strong, but because all Western currencies have been in an enormous bubble that is now imploding due to energy depletion. Thailand is much closer to where the world is headed in the future, and therefore will continue to strengthen relative to the West. Eventually, when the Western world has reverted to a 3rd world style existence, the pattern may change. But I doubt any of us here today will be alive to see it.

[trevorg]

Intellectual rights have a lot to do with world economic growth. The US has been very generous in giving it away for free for decades. When the stuff hits the fan, and protection becomes law, perhaps growth patterns and monetary values will have need of some adjustment. And make no mistake, Europe is in the same boat as the Americans and will respond with equal vigor. The east are great copiers but their sense of creative intelligence results in 1000 ships driving a river. No offenses against Thailand as China is the greatest thief of technology of the last 100 years. Careful in proclaiming the winner in these early stages of the game as the battle, and a battle it is, is just beginning.

Intellectual rights have <deleted> all to do with the global economic crisis (personally they may affect lawyer/s solicitors/ barristers) who persuade their corporate employers to spend billions of currency (not Thai) to take court action?

Europe is in a completely different boat to the 'Americans' ( as you call them)!

The US has been very generous in giving it away for free - their intelligence? what exactly do you mean?

[BuckarooBanzai]

Intellectual rights have a lot to do with world economic growth. The US has been very generous in giving it away for free for decades. When the stuff hits the fan, and protection becomes law, perhaps growth patterns and monetary values will have need of some adjustment. And make no mistake, Europe is in the same boat as the Americans and will respond with equal vigor. The east are great copiers but their sense of creative intelligence results in 1000 ships driving a river. No offenses against Thailand as China is the greatest thief of technology of the last 100 years. Careful in proclaiming the winner in these early stages of the game as the battle, and a battle it is, is just beginning.

Intellectual rights have <deleted> all to do with the global economic crisis (personally they may affect lawyer/s solicitors/ barristers) who persuade their corporate employers to spend billions of currency (not Thai) to take court action?

Europe is in a completely different boat to the 'Americans' ( as you call them)!

The US has been very generous in giving it away for free - their intelligence? what exactly do you mean?

Wow, apparently hit a nerve here. What computers and operating systems are they using in your neighborhood? This is classified as intellectual. The F.cking lawyers you are talking about are something closer associated with the devil and religion. But unlike you I include the Bankers and Brokers with the miscreants that attempt to pose as human beings.

Smart people that invent things are in no way related to the idiots that make money by theft, tort, legal crap, etc. and have no beneficial purpose. It does not matter what they are called - Bankers - Brokers - Politicians - and on and on, these people are trying to destroy civility.

Of course except for the good ones that shine like a light in a world that is growing somewhat dim!

[JimsKnight]

A country that produces more than it uses will always have a strong currency. Thailand does this along with not being a socialist welfare country. Unfortunately the western countries have forgotten these simple economic facts.

Well said, the trouble is the closet socialists who see the UK as the bee's knee's for a successful welfare model turn their blinkers on and keep dreaming.

Get the scam trade agreement torn up and revised so quality returns to the UK, not quantity.

Beechy, you are the weakest link and have your head in the sand.

Realistically the UK could be better off had the 80s and 90s not laid the seed's for the shambles of an economy it now has.

[JimsKnight]

They have access and own more of the latest technology EG: Phones, Village girls seem to have larger and more western homes and bike ownership is more common.

If that's a false indicator of standard of living I don't know what is...

[trevorg]

Intellectual rights have a lot to do with world economic growth. The US has been very generous in giving it away for free for decades. When the stuff hits the fan, and protection becomes law, perhaps growth patterns and monetary values will have need of some adjustment. And make no mistake, Europe is in the same boat as the Americans and will respond with equal vigor. The east are great copiers but their sense of creative intelligence results in 1000 ships driving a river. No offenses against Thailand as China is the greatest thief of technology of the last 100 years. Careful in proclaiming the winner in these early stages of the game as the battle, and a battle it is, is just beginning.

Intellectual rights have <deleted> all to do with the global economic crisis (personally they may affect lawyer/s solicitors/ barristers) who persuade their corporate employers to spend billions of currency (not Thai) to take court action?

Europe is in a completely different boat to the 'Americans' ( as you call them)!

The US has been very generous in giving it away for free - their intelligence? what exactly do you mean?

Wow, apparently hit a nerve here. What computers and operating systems are they using in your neighborhood? This is classified as intellectual. The F.cking lawyers you are talking about are something closer associated with the devil and religion. But unlike you I include the Bankers and Brokers with the miscreants that attempt to pose as human beings.

Smart people that invent things are in no way related to the idiots that make money by theft, tort, legal crap, etc. and have no beneficial purpose. It does not matter what they are called - Bankers - Brokers - Politicians - and on and on, these people are trying to destroy civility.

Of course except for the good ones that shine like a light in a world that is growing somewhat dim!

No need to Wow and no nerve has been hit! Every computer and operating system in my 'hood' and all intellectualism, creativity and the world has been stolen from the Americans and copied. God Bless you!

[poanoi]

Historically thai baht trade at ~25 baht to a dollar, only it went down 1997

Edited November 18, 2011 by poanoi

[chiang mai]

Historically thai baht trade at ~25 baht to a dollar, only it went down 1997

That's because pre '97 THB was hard pegged to USD, post '97 the peg was relaxed/broken.

[janverbeem]

^ I can assure you that they are suffering.In 1997 the price of gasoline was 9 Baht.I haven't seen any western country where the gasoline went up 400% since 1997.

When gasoline rises,the price of all consumer goods rise accordingly.

Not exactly true when saying "all consumer goods rise accordingly". In 2004/2005 I could get a bottle of beer for 30 to 35 baht in Pattaya. I can and did get the same brand of beer for 35 baht in Pattaya September/October/November this year.

As for "poor" Thais suffering I have no doubt.

I thought it was obvious that the question and my answer were pointed at what happened after the big devaluation which happened in 1997.

As for you being able to buy beer at the same price as 7 years ago,sounds very strange to me since beer prices at the supplier have gone up with at least 30 % between 2004 and today.

[MB1]

^ I can assure you that they are suffering.In 1997 the price of gasoline was 9 Baht.I haven't seen any western country where the gasoline went up 400% since 1997.

When gasoline rises,the price of all consumer goods rise accordingly.

Not exactly true when saying "all consumer goods rise accordingly". In 2004/2005 I could get a bottle of beer for 30 to 35 baht in Pattaya. I can and did get the same brand of beer for 35 baht in Pattaya September/October/November this year.

As for "poor" Thais suffering I have no doubt.

I thought it was obvious that the question and my answer were pointed at what happened after the big devaluation which happened in 1997.

As for you being able to buy beer at the same price as 7 years ago,sounds very strange to me since beer prices at the supplier have gone up with at least 30 % between 2004 and today.

It may seem strange to you but it aint strange to me,I can assure you that what I said in my previous post is fact, go to Soi Buakhaow some time and you can get a beer for 35 baht without too much trouble to find.

[StreetCowboy]

^ I can assure you that they are suffering.In 1997 the price of gasoline was 9 Baht.I haven't seen any western country where the gasoline went up 400% since 1997.

When gasoline rises,the price of all consumer goods rise accordingly.

Not exactly true when saying "all consumer goods rise accordingly". In 2004/2005 I could get a bottle of beer for 30 to 35 baht in Pattaya. I can and did get the same brand of beer for 35 baht in Pattaya September/October/November this year.

As for "poor" Thais suffering I have no doubt.

I thought it was obvious that the question and my answer were pointed at what happened after the big devaluation which happened in 1997.

As for you being able to buy beer at the same price as 7 years ago,sounds very strange to me since beer prices at the supplier have gone up with at least 30 % between 2004 and today.

It may seem strange to you but it aint strange to me,I can assure you that what I said in my previous post is fact, go to Soi Buakhaow some time and you can get a beer for 35 baht without too much trouble to find.

Was it in a similar outlet? Beer in the off-license in Scotland now costs the same as it did in the pub many years ago. 7-11 is now about 35 for a can of Singha, if my recollection serves me well.

SC (edit: duplication removed)

Edited November 24, 2011 by StreetCowboy

[MB1]

Quoting Street Cowboy.

Try Soi Buakhao, go to top of Soi Diane from second road Pattaya, turn left and not a hundred or so yards down a large open air bar with around six large TV's, excellent for the football, very early November this year when I left so the flood may have affected prices, name of bar is Kate Sirree bar, also other bars had similar prices, beer was chang or leo for 35 baht, also very reasonable prices for other drinks...And yes it was a similar outlet in 2004, a bar on soi 8 in Pattaya.

What I am contending is Janverbeem saying prices have gone up 30% for beer since 2004, I don't know how much manufactures /distributors/wholesalers in Thailand have put their prices up since 2004 but it's fact that I bought beer in Sept/Oct/November this year at the same price I bought in Pattaya in 2004.

[elliss]

The bubble has to burst at some point, and there is a shed load more unrest to come yet.

correct .

the british goverment , must allow a referendum ,

on voting to leave the EEC.

I WAS COMPLETELY AGAINST IT FROM THE OFFSET .

poorer countries in europe have become richer,

at the exspense , of the european countries with manufacturing infrastructure

its only a matter of time before germany decides to gtf out of the zero zone .

:jap:

bttopic, asian currencies , will go from strength to strength .

[MB1]

Quoting Street Cowboy.

Try Soi Buakhao, go to top of Soi Diane from second road Pattaya, turn left and not a hundred or so yards down a large open air bar with around six large TV's, excellent for the football, very early November this year when I left so the flood may have affected prices, name of bar is Kate Sirree bar, also other bars had similar prices, beer was chang or leo for 35 baht, also very reasonable prices for other drinks...And yes it was a similar outlet in 2004, a bar on soi 8 in Pattaya.

What I am contending is Janverbeem saying prices have gone up 30% for beer since 2004, I don't know how much manufactures /distributors/wholesalers in Thailand have put their prices up since 2004 but it's fact that I bought beer in Sept/Oct/November this year at the same price I bought in Pattaya in 2004.

Edit, and just as an afterthought, freinds of mine who have buisnesses in pattaya were paying before the floods 660 baht per 24 bottles of singha, that equates to 27.5 baht per bottle, 7/11 probably buy cheaper than that because of the size of the buisness. Not all buisnesses have the same profit mark up and running costs/overheads as some do which allows them to sell a product at a cheaper price.

[muchogra]

One reason is that Thai bahts are not heavily traded globally. I myself don't know how to trade it as an individual. The poster naam can advise on this subject.

The Thai bahts have their ups and downs over the years. I sent USD10,000 some 30 plus years ago to my FIL in Thailand to buy some land for us, the exchange rate was around 17 if my memory serves me right. My MIL paid my wife THB200,000 in 1980 for the USD10,000 that I lent to my wife's brother in the States for his gambling debt. In the mid to late 90's I remitted in USD100,000 from the States, the exchange rate was about THB25. A few months later, it was THB57!

The past few days, the THB has weakened. Foreigners have been net sellers in the stock market. The proprietary funds and institutional funds have also been net sellers but the SET have not dropped even though the DOW, Hang Seng, Nikki have dropped quite a bit. Now, do you think real retailers have the ability to maintain the SET index like this? But it doesn't matter if it hasn't dropped. It will. But they would want to push it above 1,000. They had tried a week or so ago. I hope you know what to do when it approaches 1,000 and beyond.