webfact Posted February 12, 2013 Share Posted February 12, 2013 Bloomberg News Thailand's Baht Weakens Most in a Week on Rate-Cut Speculation By Kyoungwha Kim BANGKOK: -- Thailand’s baht dropped the most in more than a week on speculation the central bank will cut interest rates next week to slow fund inflows that helped fuel a 2.3 percent rally in the currency this year. Bonds fell. newsjs Finance Minister Kittiratt Na-Ranong said Jan. 25 that lower interest rates would discourage inflows into the country, urging the central bank to employ measures to prevent the baht from rising or falling sharply. There’s concern the strong baht will hurt tourism and exports, he said Jan. 31. The Bank of Thailand is to review interest rates on Feb. 20. “There’s some pressure from the Thai government on the central bank to cut interest rates next week,” said Kozo Hasegawa, a foreign-exchange trader at Sumitomo Mitsui Banking Corp. in Bangkok. “Still, because of the Chinese New Year holidays, trading is quiet.” [more...] Full story: http://www.businessw...cut-speculation -- Businessweek 2013-02-12 Link to comment Share on other sites More sharing options...
Huayrat Posted February 12, 2013 Share Posted February 12, 2013 Is this serious? How has it weakened its still the same,, clutching at straws comes to mind.. what a joke Link to comment Share on other sites More sharing options...
Eff1n2ret Posted February 12, 2013 Share Posted February 12, 2013 Is this serious? How has it weakened its still the same,, clutching at straws comes to mind.. what a joke Still the same as what? You can't compare it to the pound, which is going down in value against all currencies faster than any movement of the baht. Link to comment Share on other sites More sharing options...
Kananga Posted February 12, 2013 Share Posted February 12, 2013 Is this serious? How has it weakened its still the same,, clutching at straws comes to mind.. what a joke Still the same as what? You can't compare it to the pound, which is going down in value against all currencies faster than any movement of the baht. Still the same as Singapore. In fact its even stronger than it was against the SGD at the beginning of the week. Link to comment Share on other sites More sharing options...
Robby nz Posted February 12, 2013 Share Posted February 12, 2013 I see that at least one interest rate has gone up a little today. Link to comment Share on other sites More sharing options...
dean999 Posted February 12, 2013 Share Posted February 12, 2013 I have just gone through exchange rates for US, OZ, Canadian Dollars, British pound, Euro and some others. The exchange rate for some has gone up but it's so small you wouldn't even notice. Thailand, the hub of bullsh_t. 2 Link to comment Share on other sites More sharing options...
Baerboxer Posted February 12, 2013 Share Posted February 12, 2013 I have just gone through exchange rates for US, OZ, Canadian Dollars, British pound, Euro and some others. The exchange rate for some has gone up but it's so small you wouldn't even notice. Thailand, the hub of bullsh_t. More or less the same as you. I changed some US$ last Friday and would get almost the same rate if I changed today; the pound and Qatar Riyal also about the same. Very fractional changes that are only noticeable if you are channging very large sums. Another little white lie to make us all feel better! 1 Link to comment Share on other sites More sharing options...
BrianCR Posted February 12, 2013 Share Posted February 12, 2013 I have just gone through exchange rates for US, OZ, Canadian Dollars, British pound, Euro and some others. The exchange rate for some has gone up but it's so small you wouldn't even notice. Thailand, the hub of bullsh_t. More or less the same as you. I changed some US$ last Friday and would get almost the same rate if I changed today; the pound and Qatar Riyal also about the same. Very fractional changes that are only noticeable if you are channging very large sums. Another little white lie to make us all feel better! My pension arrived from the UK yesterday and is valued at over 2,000 Baht less than last month so maybe The Baht is staying level but some other currencies are taking a dip! Link to comment Share on other sites More sharing options...
Sirius1935 Posted February 12, 2013 Share Posted February 12, 2013 There are tens of thousands of ex-pats living in this country just waiting for the Baht to fall so that they can change their money into Thai Baht at a better rate of exchange. So, if the interest rate drops it will not stem the inflow of foreign currency. The news that will cause the Baht to drop is that there is an 85 year old man in a very frail condition. If this news came in some language other than Latin you'll see ฿ 80 to the ₤. Link to comment Share on other sites More sharing options...
el jefe Posted February 12, 2013 Share Posted February 12, 2013 There are tens of thousands of ex-pats living in this country just waiting for the Baht to fall so that they can change their money into Thai Baht at a better rate of exchange. So, if the interest rate drops it will not stem the inflow of foreign currency. The news that will cause the Baht to drop is that there is an 85 year old man in a very frail condition. If this news came in some language other than Latin you'll see ฿ 80 to the ₤. That news is out there already. Been so for years. Do you really think the expats waiting for the baht to fall are going to bring in more money than all the foreign investment by big corporations?? Good luck with 80 baht. No one lives forever but the change here is already priced into the baht. Link to comment Share on other sites More sharing options...
el jefe Posted February 12, 2013 Share Posted February 12, 2013 I have just gone through exchange rates for US, OZ, Canadian Dollars, British pound, Euro and some others. The exchange rate for some has gone up but it's so small you wouldn't even notice. Thailand, the hub of bullsh_t. The article didn't originate in Thailand. Had you read the full link it's from Bloomberg: "The baht fell 0.2 percent to 29.89 per dollar as of 3:18 p.m. in Bangkok, the biggest decline since Jan. 31, according to data compiled by Bloomberg. One-month implied volatility, a measure of expected moves in exchange rates used to price options, was unchanged at 5.47 percent. " The hub of bullsh_t is TV. 1 Link to comment Share on other sites More sharing options...
khunken Posted February 12, 2013 Share Posted February 12, 2013 This is 'news'? A 0.2% drop is equivalent to a drop from 29.83 to 29.89 to the US$. Tiny. 1 Link to comment Share on other sites More sharing options...
chiang mai Posted February 12, 2013 Share Posted February 12, 2013 There are tens of thousands of ex-pats living in this country just waiting for the Baht to fall so that they can change their money into Thai Baht at a better rate of exchange. So, if the interest rate drops it will not stem the inflow of foreign currency. The news that will cause the Baht to drop is that there is an 85 year old man in a very frail condition. If this news came in some language other than Latin you'll see ฿ 80 to the ₤. Be happy and feel lucky if you ever see 50 again, the only place you'll see 80 is in your dreams. As for the tens of thousands of expats waiting to change money into Baht: the sum total amounts to chump change by comparison. Link to comment Share on other sites More sharing options...
Locationthailand Posted February 12, 2013 Share Posted February 12, 2013 Gotta love these posts. Link to comment Share on other sites More sharing options...
IsaanUSA Posted February 12, 2013 Share Posted February 12, 2013 (edited) Baht weakened against the US dollar Edited February 12, 2013 by IsaanUSA Link to comment Share on other sites More sharing options...
el jefe Posted February 12, 2013 Share Posted February 12, 2013 Baht weakened against the US dollar Like it or not, that's the only exchange rate that counts. 1 Link to comment Share on other sites More sharing options...
TheGhostWithin Posted February 12, 2013 Share Posted February 12, 2013 0.2% is minuscule, the NZD, and other currencies like the JPY have almost daily fluctuations higher than this. With the state of the economy in Thailand, with businesses, corruption, poor governance, inaccurate statistics and the increase in labor prices all competing against each other, it is a shock that the THB is not fluctuating much more. I stand by my belief that the BOT continues to manipulate exchange rates, using the USD as its target rate mechanism, rather than other foreign currencies, which is why the NZD (I am a Kiwi, so know the NZD exchange with the Baht best) fluctuates typically 1-1.5% weekly. So why was that 0.2% move against the USD news? Oh yes, your peg slipped a bit. Diddums! Link to comment Share on other sites More sharing options...
roamer Posted February 12, 2013 Share Posted February 12, 2013 There are tens of thousands of ex-pats living in this country just waiting for the Baht to fall so that they can change their money into Thai Baht at a better rate of exchange. So, if the interest rate drops it will not stem the inflow of foreign currency. The news that will cause the Baht to drop is that there is an 85 year old man in a very frail condition. If this news came in some language other than Latin you'll see ฿ 80 to the ₤. That news is out there already. Been so for years. Do you really think the expats waiting for the baht to fall are going to bring in more money than all the foreign investment by big corporations?? Good luck with 80 baht. No one lives forever but the change here is already priced into the baht. In your dreams, and they are dreams because the thinking is screwed. "Do you really think the expats waiting for the baht to fall are going to bring in more money than all the foreign investment by big corporations??" Well even that is dropping, but FDI is not driving the baht. Short term money on the other hand is. You can't price that in, unless you want to put an exit sign on the door. There are supposedly, FE ,people on this forum. There are also people I share a building with (and after hours drinks) in London. I doubt that their Porsche's can go as fast as the baht in the Latin event you mentioned. Greedy they may be, stupid they are not. In Latin terms they all know, absens haeres non erit, and all bets are off. 1 Link to comment Share on other sites More sharing options...
IsaanUSA Posted February 12, 2013 Share Posted February 12, 2013 So why was that 0.2% move against the USD news? It makes a good news headline. That's pretty much it. It worked on you and me...we both clicked on this thread Link to comment Share on other sites More sharing options...
Chupup Posted February 13, 2013 Share Posted February 13, 2013 OMG a whole .2 not enough for a coffee at starbucks, Link to comment Share on other sites More sharing options...
sexy man Posted February 13, 2013 Share Posted February 13, 2013 I have just gone through exchange rates for US, OZ, Canadian Dollars, British pound, Euro and some others. The exchange rate for some has gone up but it's so small you wouldn't even notice. Thailand, the hub of bullsh_t. More or less the same as you. I changed some US$ last Friday and would get almost the same rate if I changed today; the pound and Qatar Riyal also about the same. Very fractional changes that are only noticeable if you are channging very large sums. Another little white lie to make us all feel better! My pension arrived from the UK yesterday and is valued at over 2,000 Baht less than last month so maybe The Baht is staying level but some other currencies are taking a dip! mine was down 3000 baht as well aussie private pension Link to comment Share on other sites More sharing options...
davidrkw Posted February 13, 2013 Share Posted February 13, 2013 With regards the pound/Baht rate it's a matter of interest rate differential. The Baht is strong because things look a bit better in the Eurozone and the US so investors are confident enough to buy Thai stocks and bonds, it's mostly short term so can be pulled out in a hurry. If UK rates went up, you'd see the pound increase. It may well be 2015 before this happens. Link to comment Share on other sites More sharing options...
marstons Posted February 13, 2013 Share Posted February 13, 2013 There are tens of thousands of ex-pats living in this country just waiting for the Baht to fall so that they can change their money into Thai Baht at a better rate of exchange. So, if the interest rate drops it will not stem the inflow of foreign currency. The news that will cause the Baht to drop is that there is an 85 year old man in a very frail condition. If this news came in some language other than Latin you'll see ฿ 80 to the ₤. do you really think the amount of baht ex pats bring in compares to anything like the billions they are trying to stop coming in? ex pats is a drop in the ocean. 1 Link to comment Share on other sites More sharing options...
Hedghog Posted February 13, 2013 Share Posted February 13, 2013 I look forward to,40 Thai Baht to BP. At present repatriating funds to the Uk. Brought to Thailand at 74. Just loving it. Last big bundle will go early next year. Fingers crossed. Power to the Baht. Link to comment Share on other sites More sharing options...
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