Strong Thai Baht Offers Many Possibilities

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Strong baht offers many possibilities
Asina Pornwasin

BANGKOK: -- In recent months the baht has strengthened against the US dollar, which is now worth less than Bt30 - impacting businesses and individuals for better or worse.

However, the strong exchange rate for the Thai baht means that some people are coming up with some clever ideas on how to spend their money.

We asked a number of people on Facebook how they intended to spend their hard-earned cash during the current currency climate:

Jib Marn Pin said it was the ideal time to go abroad.

KakiPure KakiJu, who said she plans to travel abroad in July, also said she was now buying up dollars in preparation for her trip.

Pim Wisa said she also planned to exchange baht for dollars and would also keep a part of what she exchanges for trips abroad in the future.

Meanwhile, Nara Thip said that with the current strength of the Thai baht it was a good time to buy brand-name products.

Busakorn Buranabunpot said she would buy things like clothes, books and online academic courses that she favours. "But my friends plan to travel abroad," she added.

Sakulsri Srisaracam, a university lecturer, said she would travel abroad and pay for her PhD.

"I can exchange baht for US dollars in preparation for my PhD. The price is good right now," she said.

Some people plan to make a profit from the currency exchange rate. For example, To Thungrungsit said he would make the exchange from baht to dollars and then exchange them back, once the baht was weak.

Similarly, Piyanat Piyanithi also had the same idea to profit.

Yamashita Miharu, she said she would hold off from sending money back to her family in Thailand until the US dollar had gained in strength against the baht.

However, some people were more conservative in their thinking, saying they would spend more carefully.

Poomjit Sirawongprasert said she would spend her baht more carefully as the current economic situation was uncertain. "Remaining careful is the best solution," she said.

Rungnapa Sukhmol, who said she always considered every purchase carefully before going ahead with it, also supported this approach.

Sasiwan Newchantug said she dreamed about shopping abroad but in reality, she would spend more carefully.

While the strong baht will no doubt benefit many people - directly and indirectly - the weak dollar is also an indication of the fluctuating global economy and so people should be cautious in their financial transactions as the situation could quickly change.

-- The Nation 2013-05-04

[Thai at Heart]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

[OzMick]

Yingluk Shinawatra said "This a good time to travel to TPLCs and tell lies."

[rametindallas]

This would be a good time to buy some extra trains/cars for the BTS.

This would be a good time to buy pumps and dredging equipment by the BMA

This would be a good time to buy equipment to manufacture tablets here in Thailand for the schools...

[hansgruber]

Brand name products aren't cheaper in the stores.

I don't see Central dropping their prices due to the strong baht.

Load of rubbish, strong baht helps just a small few.

[Locationthailand]

Motivation in this article is all about spending on fantasy items. That sums up the mentality of the Thai culture. The only sensible answer was to pay for a doctorate.

[Pib]

Brand name products aren't cheaper in the stores.

I don't see Central dropping their prices due to the strong baht.

Load of rubbish, strong baht helps just a small few.

I'm still waiting to see a price drop in imported goods. I guess the importor/store is pocketing the gain and not passing it along in the former of lower prices. I'm not surprised.

[laurentbkk]

A very strong baht can help on short term basis some big Thai companies which want to invest in foreign companies abroad. That is the only thing I can fell around ..not to mention a very strong baht help the rich to purchase properties abroad at lower price, you know, those real estate Thais can buy while foreigner can't buy land in Thailand ... Thailand is in fierce competition with Vietnam, China, India if the Baht become stronger again you will see some big changes in manufacturing relocation in cheaper countries.

[Stjohnm]

Yingluk Shinawatra said "This a good time to travel to TPLCs and tell lies."

1 UAE Dirham buys ฿8.09 or ฿1 buys AED0.12 if she's thinking of taking a trip

Edited May 4, 2013 by Stjohnm

[GreenSnapper]

Brand name products aren't cheaper in the stores.

I don't see Central dropping their prices due to the strong baht.

Load of rubbish, strong baht helps just a small few.

I'm still waiting to see a price drop in imported goods. I guess the importor/store is pocketing the gain and not passing it along in the former of lower prices. I'm not surprised.

In a free economy prices would drop. But not on Thailand, where almost all imports are controlled by a small minority.

[Thai at Heart]

A very strong baht can help on short term basis some big Thai companies which want to invest in foreign companies abroad. That is the only thing I can fell around ..not to mention a very strong baht help the rich to purchase properties abroad at lower price, you know, those real estate Thais can buy while foreigner can't buy land in Thailand ... Thailand is in fierce competition with Vietnam, China, India if the Baht become stronger again you will see some big changes in manufacturing relocation in cheaper countries.

Just as well all these Thai companies can import capital goods a little cheaper to increase productivity. Or all our petrol prices aren't running out of control. The effects go way beyond your analysis.

[maidu]

A good time to not spend 2.2 trillion baht on infrastructure - for projects which are ill-defined, questionably needed, 30% of the allotments will go in to corrupts peoples' pockets, and more important projects won't get funded. Plus the 2.2 turns in to 5 or 6 trillion when % is added over 50 years.

[NongKhaiKid]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

Dumb, unconnected and out of touch also sums up the government, politicians and Thai society in general.

[juliusk]

Motivation in this article is all about spending on fantasy items. That sums up the mentality of the Thai culture. The only sensible answer was to pay for a doctorate.

Did you read everything in the article? Its easy to bash the Thai culture again but please sum up all the replies in the article before you sump up your opinion

However, some people were more conservative in their thinking, saying they would spend more carefully.

Poomjit Sirawongprasert said she would spend her baht more carefully as the current economic situation was uncertain. "Remaining careful is the best solution," she said.

Rungnapa Sukhmol, who said she always considered every purchase carefully before going ahead with it, also supported this approach.

Sasiwan Newchantug said she dreamed about shopping abroad but in reality, she would spend more carefully.

[lee b]

A trip to Laos maybe??

[Robby nz]

Ask the blind beggar in the market and the lady who sells bananas on the corner what they will do.

Or even the road sweeper or men on the rubbish truck or the girls who work in 7/11.

Must be huge possibilities for them, buy lots of gold is another as well as those already mentioned.

[GentlemanJim]

KakiPure KakiJu, who said she plans to travel abroad in July, also said she was now buying up dollars in preparation for her trip.

Pim Wisa said she also planned to exchange baht for dollars and would also keep a part of what she exchanges for trips abroad in the future.

Meanwhile, Nara Thip said that with the current strength of the Thai baht it was a good time to buy brand-name products.

Busakorn Buranabunpot said she would buy things like clothes, books and online academic courses that she favours. "But my friends plan to travel abroad," she added.

Sakulsri Srisaracam, a university lecturer, said she would travel abroad and pay for her PhD.

I must tell the old woman next door to read this and stop whining. Seem's life has never been so good for ordinary Thais

I bet the wealthy are really upset about the currency controls in this country. They could all be buying condo's in New York and London right now but.....lmao, still I am sure they will find a way.

[Rosco911]

For us that manufacture here its a nightmare. You would think that the purchase of raw materials such as imported steel or parts would be cheaper but greed once again takes over and there is no significant change.

[Nisa]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

There is always an up and downside to a strong currency such as generally good for importers but bad for exporters. That is basically the gist of the OP that their are good and bad. Certainly the way you hear people obsess about the strength of the baht here on TV should make you aware that it has a great impact on people's views of traveling and spending money abroad.

Edited May 4, 2013 by Nisa

[Roadman]

For us that manufacture here its a nightmare. You would think that the purchase of raw materials such as imported steel or parts would be cheaper but greed once again takes over and there is no significant change.

Correct. Fuel, steel etc. quick to go up but slow to come back and never near to the previous rate. Plus wage increases on top.

As someone above stated a good time to purchase for capital investment but the exporters and accordingly suppliers of the goods, services and labour for those exports all crap out. But then in Thailands current politicial situation with corruption and lawlessness out of control and sanctioned by the largest and most elite mafia family ever to record high levels of acceptance the brought and paid for Isaanite vote will be still whoring their souls for their Lord Thaksin ฿500 pledge for generations to come.

And for the Red eye glass wearing Thaksin lovers the reason the Thai economy is doing well is not thanks to the current corrupt scum trying to get dictatorial control but to the bounce back in world economies the same as in the early 2000's before the Yanks went tits up. New Zealand follows the same trends as Thailand and the same is occurring here. When markets are in your favor you can have a puppet monkey dancing for an organ grinder and you would still be raking in the loot...aww who OK...dance Yingluck dance...

[Ragzilb]

Well I am from Denmark and the DKK just got from 4,98 for 1 krone to 5,65 for 1 krone so cheers for me

Edited May 4, 2013 by Ragzilb

[DLock]

You can rationalize anything if you try hard enough...

[LuckyLew]

It only benefits those that are on the 30 - 40% off the top gravy train

Wire millions or billions over seas now .... when baht goes back to 33 or 34 per greenback

Then bring it back and the 30 - 40% becomes 35 - 45% ...

Great work if you can get it ... or are connected

[Thai at Heart]

It only benefits those that are on the 30 - 40% off the top gravy train

Wire millions or billions over seas now .... when baht goes back to 33 or 34 per greenback

Then bring it back and the 30 - 40% becomes 35 - 45% ...

Great work if you can get it ... or are connected

You really think that individuals shoveling money against this avalanche coming the other way are manipulating this?

I see the EU dropped rates again yesterday.

Won't be to long till the cut here too, but 34 is a long long way away.

[tomyummer]

This is great news. So now how much is Thai jasmine rice for export? Completely priced out of the market.

[ginjag]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

There is always an up and downside to a strong currency such as generally good for importers but bad for exporters. That is basically the gist of the OP that their are good and bad. Certainly the way you hear people obsess about the strength of the baht here on TV should make you aware that it has a great impact on people's views of traveling and spending money abroad.

How many % of Thai working people can do just that ????good for the 20% ????

have to think about the RICE and tourism along with all the goods manufactured here.

Just what effect it is having in general, for the good or for the bad, IF the answer is in general bad overall, then it should be acted upon. UNLESS the small % don't give a fig about the country, only Burberry-Blue label- or less expensive holidays for the chosen few.

[Thai at Heart]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

There is always an up and downside to a strong currency such as generally good for importers but bad for exporters. That is basically the gist of the OP that their are good and bad. Certainly the way you hear people obsess about the strength of the baht here on TV should make you aware that it has a great impact on people's views of traveling and spending money abroad.

How many % of Thai working people can do just that ????good for the 20% ????

have to think about the RICE and tourism along with all the goods manufactured here.

Just what effect it is having in general, for the good or for the bad, IF the answer is in general bad overall, then it should be acted upon. UNLESS the small % don't give a fig about the country, only Burberry-Blue label- or less expensive holidays for the chosen few.

Well when you see car manufacturers announcing the expansion they have been, one can only assume they are all idiots right?

[utalkin2me]

The strong baht offers all the possibilities that the Thais will never take advantage of. Stuff like contracting foreigners to do things that they can't.

[ginjag]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

There is always an up and downside to a strong currency such as generally good for importers but bad for exporters. That is basically the gist of the OP that their are good and bad. Certainly the way you hear people obsess about the strength of the baht here on TV should make you aware that it has a great impact on people's views of traveling and spending money abroad.

How many % of Thai working people can do just that ????good for the 20% ????

have to think about the RICE and tourism along with all the goods manufactured here.

Just what effect it is having in general, for the good or for the bad, IF the answer is in general bad overall, then it should be acted upon. UNLESS the small % don't give a fig about the country, only Burberry-Blue label- or less expensive holidays for the chosen few.

Well when you see car manufacturers announcing the expansion they have been, one can only assume they are all idiots right?

up to them, Any answer re the RICE, or the other points ??? wouldn't have expected you to touch the bigger truths. Thai government charging extra tax example,, honda jazz 14, 000 uk pound and in the u.k. 11,000. good if you can be greedily coining it in. if it all goes into the coffers ?

[ginjag]

While exporters are claiming closure and redundancy, the nation points out that you can take a holiday.

This is one of the dumbest unconnected, out of touch, articles I have ever read.

There is always an up and downside to a strong currency such as generally good for importers but bad for exporters. That is basically the gist of the OP that their are good and bad. Certainly the way you hear people obsess about the strength of the baht here on TV should make you aware that it has a great impact on people's views of traveling and spending money abroad.

How many % of Thai working people can do just that ????good for the 20% ????

have to think about the RICE and tourism along with all the goods manufactured here.

Just what effect it is having in general, for the good or for the bad, IF the answer is in general bad overall, then it should be acted upon. UNLESS the small % don't give a fig about the country, only Burberry-Blue label- or less expensive holidays for the chosen few.

Well when you see car manufacturers announcing the expansion they have been, one can only assume they are all idiots right?

up to them, Any answer re the RICE, or the other points ??? wouldn't have expected you to touch the bigger truths. Thai government charging extra tax example,, honda jazz 14, 000 uk pound and in the u.k. 11,000. good if you can be greedily coining it in. if it all goes into the coffers ?

The rice was screwed before the currency.

Yes the government puts tax on domestic vehicles here as do many. Obviously the export future for cars looks very strong.

Agree the rice WAS screwed. do you only think re cars. many governments do put tax on cars. So the U.Ks tax is still on the Honda is it not ??........But good future for car exports--better still if the bht was realistic.