Strong baht has Thai politicians, business owners spooked

By Coconuts Bangkok

BANGKOK: -- The baht has posted a remarkable rally during the past month, pushing Thai business owners and politicians into a state of panic about the possibility of harm being done to Thai exporters.

According to data released by the Bangkok Post, when the local currency markets closed yesterday, Thailand’s currency was trading at THB29.77 to USD1. Compare this with one year ago, when USD1 would buy you THB31.36.

This surge in the baht’s value has caused Thai officials and business owners to worry about the future of Thai exports and the fate of foreign direct investment within the country.

In a statement following a meeting with Finance Minister Kittiratt [more...]

Full story: http://www.coconutsb...owners-spooked/

-- COCONUTS Bangkok 2013-01-24

Not such a bad thing when you are moving big slabs of cash offshore.

No mention of whether the Thai Reserve Bank is involved in currency fluctuation modulating (or exacerbation for that matter).

Edited January 24, 201313 yr by OzMick

The Aussie dollar is now only getting 31.4

That will be nice comfort, that the PM will keep people informed!

That will help the rice scam.

Does anyone know the location of the iceberg that this country may soon collide with?

No mention of the impact on tourism - oops - forgot - nothing ever impacts Thai tourism

Thailand's losing the race to the bottom... 555+

do you trust those eyes ...

No mention of the impact on tourism - oops - forgot - nothing ever impacts Thai tourism

More expensive to holiday in Thailand, The "TOURISTS" are going to love it, they will be flocking in record numbers. You mark my word lad, just wait until T.A.T release thier media report tomorrow stating that this is just the thing that tourists have been waiting for.

...does she know anything about economics....or anything, for that matter....

(...people should see the absurdity and the travesty surrounding her election to prime minister of this country...)

Or is somebody in Dubai selling dollars/euro/and GBP in expectation of his return to Thailand?

Just imagine how strong it would be if the government wasn't so busy borrowing?

The Aussie dollar is now only getting 31.4

So she is wrong about quantitive easing? Cluelesscomes to mind, and its scary someone like this is running the country?

Does anyone know the location of the iceberg that this country may soon collide with?

"Greed-berg" Maybe

That will be nice comfort, that the PM will keep people informed!

This means she will pass on what her brother tells her to say

The Aussie dollar is now only getting 31.4

So she is wrong about quantitive easing? Cluelesscomes to mind, and its scary someone like this is running the country?

but she's not really is she ?

Greece is meeting Thailand, followed by international vultures, the currency gambling party.

That will be nice comfort, that the PM will keep people informed!

That was my first thought. I don't really know if this is going to be a problem for the kingdom in the longer term or not but it seems a bit different from the approach taken when there was concern about the downturn in Europe and the effect that would have on Thai exports and therefore its economy. Then it was a case of don't worry as we have plans to deal with that problem. Now it's a case of we will tell you about the problems. That seems to suggest they have no idea or no intention of doing anything about it.

This isn't so much of a problem if they're planning on the economy growing though domestic consumption although if inflation grows that may be more difficult. It will be better if you need to import a lot as well but that may not be so good for the Thai economy.

From my own point of view it's bad as ~I will be needing to move money from the UK very soon.

do you trust those eyes ...

Do we trust that it's those eyes we have to trust?

After the Americans, Europes and Japanese Exporter Nations printing money, the others must fighting back. The end of the story, you can't eat money...

That will be nice comfort, that the PM will keep people informed!

That was my first thought. I don't really know if this is going to be a problem for the kingdom in the longer term or not but it seems a bit different from the approach taken when there was concern about the downturn in Europe and the effect that would have on Thai exports and therefore its economy. Then it was a case of don't worry as we have plans to deal with that problem. Now it's a case of we will tell you about the problems. That seems to suggest they have no idea or no intention of doing anything about it.

This isn't so much of a problem if they're planning on the economy growing though domestic consumption although if inflation grows that may be more difficult. It will be better if you need to import a lot as well but that may not be so good for the Thai economy.

From my own point of view it's bad as ~I will be needing to move money from the UK very soon.

They will have to cut interest rates here soon.

Thailand's losing the race to the bottom... 555+

Thailand is losing FACE to the bottom, or shall I say Rice SCHEEEEEEEEME and Wage HIIIIIKE, MEGA PROJECTS = MEGABULLSH*******TTTT

Edited January 24, 201313 yr by MaxLee

Nope, make the rice even more expensive.

BTW nice ear-rings, wonder if she's got a matching necklace.

I am sure she's had a pearl necklace to go with them.

Naughty, naughty. But seriously, is there another PM in the world who even gets close? I don't care if I'm being sexist, she's a looker.

I agree, she is a looker.

CCFC1

The Aussie dollar is now only getting 31.4

So she is wrong about quantitive easing? Cluelesscomes to mind, and its scary someone like this is running the country?

'She' isn't.

No mention of the impact on tourism - oops - forgot - nothing ever impacts Thai tourism

More expensive to holiday in Thailand, The "TOURISTS" are going to love it, they will be flocking in record numbers. You mark my word lad, just wait until T.A.T release thier media report tomorrow stating that this is just the thing that tourists have been waiting for.

Thailand is still incredibly cheap for tourists. I can't see many swapping Thailand for another country. So what if a holiday costs 5% extra. Makes no difference to the vast majority. Tourists numbers are way up on 10 years ago despite the baht being much stronger against lost of currencies. It hasn't stopped the tourists coming.

That will be nice comfort, that the PM will keep people informed!

That was my first thought. I don't really know if this is going to be a problem for the kingdom in the longer term or not but it seems a bit different from the approach taken when there was concern about the downturn in Europe and the effect that would have on Thai exports and therefore its economy. Then it was a case of don't worry as we have plans to deal with that problem. Now it's a case of we will tell you about the problems. That seems to suggest they have no idea or no intention of doing anything about it.

This isn't so much of a problem if they're planning on the economy growing though domestic consumption although if inflation grows that may be more difficult. It will be better if you need to import a lot as well but that may not be so good for the Thai economy.

From my own point of view it's bad as ~I will be needing to move money from the UK very soon.

They will have to cut interest rates here soon.

That's a possibility I suppose. It might make it easier for those who have stretched themselves buying a new car under the tax rebate scheme. Or any other borrowing as well to be honest.

I wasn't worried until she said don't worry.

From the shoulders up OK

Do not worry people, Thaksin will be back soon

and everyone in Thailand will be rich rich rich

Things are getting worse and worse for Thai people

Yup, minimum wage went up ....

So did the price of most if not all goods Thai people need and use

But that is ok ....

Thaksin will be back ...

He will solve the problem of what to do with the rice ..

He will solve the Thai baht issue ... then again what does he

care ... as money gets transferred out of Thailand ... as soon

as it gets swapped for other currency ... ends up with more ...

One day hopefully Thailand will get a Gov't and representation

that actually work and care for the people ... until then ...

just bend over and .......

Completely agree. The hordes of Russians who have taken over Pattaya seem to be ordinary people who have no problem with the orices at all. Western geezers wll have to move to Csmbodia, where flesh is reportedly still cheap!

No loss fod Thailand, frankly - all the Russians want to do is go to the beach, shop till they drop, and drink themselves into oblivion. They have their domestic flesh trade .

No mention of the impact on tourism - oops - forgot - nothing ever impacts Thai tourism

More expensive to holiday in Thailand, The "TOURISTS" are going to love it, they will be flocking in record numbers. You mark my word lad, just wait until T.A.T release thier media report tomorrow stating that this is just the thing that tourists have been waiting for.

Thailand is still incredibly cheap for tourists. I can't see many swapping Thailand for another country. So what if a holiday costs 5% extra. Makes no difference to the vast majority. Tourists numbers are way up on 10 years ago despite the baht being much stronger against lost of currencies. It hasn't stopped the tourists coming.