siampolee Posted March 21, 2013 Share Posted March 21, 2013 There is also the dark side to the refusal of the B.O.T. to intervene in the appreciation of the Thai baht. Perhaps they can't actually intervene., There were rumours yesterday ( March 20th 2013) that there may have been or there were problems with the liquidity of the B.O.T. and its ability to step up to the board. Knowing the habit of distorting the truth that comes from the statements made by The Minister of Finance, Kittiratt one can but wonder what the truth may actually be concerning the country's present financial stability and its ability to meet its financial commitments. 1 Link to comment Share on other sites More sharing options...
Locationthailand Posted March 21, 2013 Share Posted March 21, 2013 Am I the only one thinking that PTP is trying to bankrupt Thailand anyway they can? First Rice scheme, Then there is First car Rebate and now stronger than ever Thai baht for export oriented Thai economy? Oh, don't forget 300 baht / day min. salary so everybody can increase price of food, services and more! I wonder when companies will begin to move other countries? And who plans to buy Thailand at a bargain price with 400 billion (estimated) net worth. I have been advocating this for months, Thaksins dictating revenge against seizure of his assets. Link to comment Share on other sites More sharing options...
LuckyLew Posted March 21, 2013 Share Posted March 21, 2013 Who benefits from a strong Baht. ? Would it favour someone wanting to move large amounts offshore ? I don't think there's a conspiracy going on. Controlling the value of the Baht whilst it is still afloat on the open market - is beyond the control of the government. I respectfully disagree with you IMO there is nothing that can not be manipulated in one way or another Since Thailand is ranked 15 most corrupt nation .. there is no doubt in my mind there are forces at work here to benefit those with lots of tea money to move offshore who are reaping the benefits of the current baht value 1 Link to comment Share on other sites More sharing options...
hawker9000 Posted March 21, 2013 Share Posted March 21, 2013 Who benefits from a strong Baht. ? Would it favour someone wanting to move large amounts offshore ? I don't think there's a conspiracy going on. Controlling the value of the Baht whilst it is still afloat on the open market - is beyond the control of the government. Simply not true in the short run. A reasonably accurate statement for the long run. It's critical to understand the difference. Actually, I don't think the Thai govt has any compelling reason to screw with it though there are pros & cons. One of the cons is however that the baht so strong and getting stronger is likely to, sooner or later, impact the tourist industry. Thailand likes to play games with their tourist numbers, and what's publicized can't really be trusted; what you see in the media will paint a rosy picture no matter what. But the simple truth is that the tourist demographic is already changing, and the Chinese, Koreans & Japanese don't & won't spend the way the farangs used to. Also, Thailand is no longer the retirement mecca it was once considered to be. Rice exports are another problem; Thailand has new & growing competition in the world market. Despite these things, on the whole, I think the case for letting the markets determine the baht's value is probably the strongest. Link to comment Share on other sites More sharing options...
notmyself Posted March 21, 2013 Share Posted March 21, 2013 The strength of the Thai Baht."a mile wide and half an inch deep"Very much so. You don't want it too deep because the money isn't generating more Baht but you don't want it too thin because it makes the Baht fragile. Yingluk's in a bit of a frenzy with regard to getting foreign investment as of late which is a worry. The rice scam was never about making money except on a personal level and it's turned into a monster they can't control, except by feeding it more and more cash from foreign investment. The same foreign investment which should be being used to generate revenue. Link to comment Share on other sites More sharing options...
Happy Go Lucky Posted March 21, 2013 Share Posted March 21, 2013 I really hope for a much weaker baht. I have 1.5mil worth of baht to exchange. With current exchange rate it is really depressing for me. Most of my source of income are from outside thailand.. Link to comment Share on other sites More sharing options...
lemoncake Posted March 22, 2013 Share Posted March 22, 2013 I really hope for a much weaker baht. I have 1.5mil worth of baht to exchange. With current exchange rate it is really depressing for me. Most of my source of income are from outside thailand.. You have 1.5 million baht to exchange and you hope for the weaker baht? you do not think its good to have baht when you want to change to other currency? when the baht is strong Link to comment Share on other sites More sharing options...
jamesdoe1234 Posted March 22, 2013 Share Posted March 22, 2013 I really hope for a much weaker baht. I have 1.5mil worth of baht to exchange. With current exchange rate it is really depressing for me. Most of my source of income are from outside thailand.. You have 1.5 million baht to exchange and you hope for the weaker baht? you do not think its good to have baht when you want to change to other currency? when the baht is strong Don't want to split hairs because normally I agree of what you have to say, but my guess is he got himself in a muddle, and for example he might be from England with £30k in the bank back home (which two months or so ago if you were brisk) would have bought near 1.5mil. I took that from the 'most of my incomes is from outside Thailand'. I certainly agree with Thai at Heart on the interest rate cuts being a bad thing here. Just more cheap money to throw up condos/housing and I will say, in my local area buildings are going up and people are taking them at what seems like a crazy rate - even the off plan stuff booking up and housing/offices before as a shell are going too. It leaves me wondering how much demand before the oversupply and almost certain drop? Link to comment Share on other sites More sharing options...
Thai at Heart Posted March 22, 2013 Share Posted March 22, 2013 Who benefits from a strong Baht. ? Would it favour someone wanting to move large amounts offshore ? I don't think there's a conspiracy going on. Controlling the value of the Baht whilst it is still afloat on the open market - is beyond the control of the government. Simply not true in the short run. A reasonably accurate statement for the long run. It's critical to understand the difference. Actually, I don't think the Thai govt has any compelling reason to screw with it though there are pros & cons. One of the cons is however that the baht so strong and getting stronger is likely to, sooner or later, impact the tourist industry. Thailand likes to play games with their tourist numbers, and what's publicized can't really be trusted; what you see in the media will paint a rosy picture no matter what. But the simple truth is that the tourist demographic is already changing, and the Chinese, Koreans & Japanese don't & won't spend the way the farangs used to. Also, Thailand is no longer the retirement mecca it was once considered to be. Rice exports are another problem; Thailand has new & growing competition in the world market. Despite these things, on the whole, I think the case for letting the markets determine the baht's value is probably the strongest. Its possible, but I think for every European that doesn't come, they will be replaced by 2 Chinese. This may not generate quite the same amount of spending, but the hotels will be full. The baht strength isn't going to dissuade tourists coming, as much as in general, people in Europe worrying that they may be out of a job next week. Link to comment Share on other sites More sharing options...
Happy Go Lucky Posted March 22, 2013 Share Posted March 22, 2013 I really hope for a much weaker baht. I have 1.5mil worth of baht to exchange. With current exchange rate it is really depressing for me. Most of my source of income are from outside thailand.. You have 1.5 million baht to exchange and you hope for the weaker baht? you do not think its good to have baht when you want to change to other currency? when the baht is strong Sorry my typo mistake. Is 150K of foreign currency. Must be half awake when posted it. Link to comment Share on other sites More sharing options...
Chupup Posted March 22, 2013 Share Posted March 22, 2013 Am I the only one thinking that PTP is trying to bankrupt Thailand anyway they can? First Rice scheme, Then there is First car Rebate and now stronger than ever Thai baht for export oriented Thai economy? Oh, don't forget 300 baht / day min. salary so everybody can increase price of food, services and more! I wonder when companies will begin to move other countries? And who plans to buy Thailand at a bargain price with 400 billion (estimated) net worth. He's already done that, now its just a matter of squeesing it dry Link to comment Share on other sites More sharing options...
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