Central Bank: Thai Baht Situation Improves

[webfact]

Central Bank: Thai baht situation improves
By Digital Media



BANGKOK, March 29 – The Thai currency has slightly weakened due to the outflow of US dollars and Thai investors’ purchases of the US currency in higher volumes, a senior central bank official said today.

Pongpen Ruangvirayuth, Bank of Thailand (BoT) deputy governor, said foreign investors have recently sold their stocks and exchanged the funds into US currency to be transferred out of Thailand, while Thai investors bought more US dollars either for speculative purposes or overseas direct investment.

Though the Thai currency has strengthened by 4.5 per cent since early this year, its appreciation in the last few years has been lower than other currencies in the region, she said.

Ms Pongpen said foreign capital inflow will continue on a regular basis and the Thai baht will remain attractive among foreign investors.

“A balanced capital inflow and outflow gives us a relief. The slight depreciation of the baht is not unpredictable. There always are investors who make speculative investments when the baht weakens,” she said.

Ms Pongpen said the BoT has taken into consideration a proposed registration of capital inflow in the bond markets but the right and appropriate timing is crucial in executing the measure to avoid a negative impact.

Thailand needs foreign capital and investment in both the public and private sectors, she pointed out. (MCOT online news)


-- TNA 2013-03-29

[Stjohnm]

Still got a very long way to go:

Sent from my iPhone using ThaiVisa app

[MaxYakov]

Yes, a bit yet to break 30 to the USD, which may not even happen. Today: 29.31208 / USD.

A good historical reference going back six months, but one has gen the graphics mentally (easier when sober ... maybe):

http://www.exchange-rates.org/history/THB/USD/T

Edited March 29, 2013 by MaxYakov

[Rosco911]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

[davejonesbkk]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

How do you know this?

Btw Im not being argumentative, my money comes in USD so I would personally like to see the baht weaken a little

[nong38]

Strengthened by more than 4.5% against the pound this year so we have had a rougher time of it. its not clever to have a strong currency unless you plan on overseas travel! Or, you hold Thai Bahts live abroad and Fly Emirates!

[MILT]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

The same can be said of the USD.

[jimbeam1]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

How do you know this?

Btw Im not being argumentative, my money comes in USD so I would personally like to see the baht weaken a little

Yes we have been hearing about the Thai economy collapsing for around the last 4 years now. Keeps getting stronger.

I am the same would like to see it slip some.

jb1

[MaxYakov]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

How do you know this?

Btw Im not being argumentative, my money comes in USD so I would personally like to see the baht weaken a little

Weaken a little? Don't want to be seen as greedy, eh? We're getting sliced in the scissors of Thai baht strengthening and price inflation. I'll think I'll go for he greed.

Edited March 29, 2013 by MaxYakov

[Berkshire]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

How do you know this?

Btw Im not being argumentative, my money comes in USD so I would personally like to see the baht weaken a little

He doesn't know. His comments would qualify as "wishful thinking."

[12DrinkMore]

Strengthened by more than 4.5% against the pound this year so we have had a rougher time of it. its not clever to have a strong currency unless you plan on overseas travel! Or, you hold Thai Bahts live abroad and Fly Emirates!

The UK is certainly following your advice, maybe we will see a rise in the quality of the tourists from the UK as the louts (both male and female nowadays) will not be able to afford to come here.

[rbrooks]

Maybe with the Thai baht strengthening we can see the Thais traveling more abroad to other countries and we can jack up the prices for them so they pay more than the natives as they do to us in Thailand.

[yoshiwara]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

Thai currency boosted:

http://online.wsj.com/article/SB10001424127887324103504578371750816084858.html?KEYWORDS=ewen+chew

[IsaanUSA]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

Thai currency boosted:

http://online.wsj.com/article/SB10001424127887324103504578371750816084858.html?KEYWORDS=ewen+chew

Available to WSJ.com Subscribers

and it is dated March 20

[davejones]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

How do you know this?

Btw Im not being argumentative, my money comes in USD so I would personally like to see the baht weaken a little

Yes we have been hearing about the Thai economy collapsing for around the last 4 years now. Keeps getting stronger.

I am the same would like to see it slip some.

jb1

It's shameful that you are hoping the Thai economy will slip/weaken/collapse. Don't you care about Thai people? Sounds like you only care about yourself.

[alant]

Maybe looking at the graph upside down???

[kevjohn]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

Thai currency boosted:

http://online.wsj.com/article/SB10001424127887324103504578371750816084858.html?KEYWORDS=ewen+chew

Available to WSJ.com Subscribers

and it is dated March 20

Full story here: http://www.intellasia.net/thailands-broad-appeal-bolsters-its-currency-271910

[el jefe]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

Thai currency boosted:

http://online.wsj.com/article/SB10001424127887324103504578371750816084858.html?KEYWORDS=ewen+chew

Available to WSJ.com Subscribers

and it is dated March 20

Full story here: http://www.intellasia.net/thailands-broad-appeal-bolsters-its-currency-271910

While I don't agree with everything written there, it's a little more authoritative and sounds like more thought went into it than Rosco911's comment.

[goatfarmer]

I doubt it will weaken much below 29.5 before heading to 28.5 - unless the interest rate changes.

[khaowong1]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

How do you know this?

Btw Im not being argumentative, my money comes in USD so I would personally like to see the baht weaken a little

Yes we have been hearing about the Thai economy collapsing for around the last 4 years now. Keeps getting stronger.

I am the same would like to see it slip some.

jb1

It's shameful that you are hoping the Thai economy will slip/weaken/collapse. Don't you care about Thai people? Sounds like you only care about yourself.

Since he's the only one who supports himself, not the Thai people, I can understand his thinking. I would imagine if you polled everyone on this forum, they would all like to see the baht weaken. When I came here in 2005, the baht was around 40-41, now look at it. I've lost a lot of income.

[yoshiwara]

Thai investors are buying USD because they know the strength of THB is false and the ecomomy will fall apart in less than 12 months.

The first part does not require the second part as Groucho might say.