B O T Warns Thais To Prepare For Future Fluctuation Of Baht

[chiang mai]

Surely even 5 year olds know the baht will plummet and the reasons for it and the real reasons it was pushed so high.

Could you please explain in simple terms for my benefit,"the real reasons it was pushed so high."

Not being sarcastic here but I (and possibly a few others) don't know either the real or supposed reasons for the baht strength, just assumed it was because the UK and USA economies are in the shitter.

It was probably pushed high to fool the Thai people into thinking that Thailand's economy is sooooo good, and probably 90% of them believe it.

What you understand about this is really nothing much at all.

[Cyclist]

Like like like like hope it goes in freefall bigtime

That would be great. Not just for me and you, but for the tourism as well.

A strong baht only scares people away.

Yup, looking forward to watching the petrol prices rise asap. This is a double edged sword for Thailand.

That would be great, less cars on the roads.

[Suradit69]

I think he's just spelling things out for Kittirat and his cohorts rather than the Thai people who, bless them, are blissfully unaware of coins beyond the Baht

"reasoning that the baht has been appeciating [sic]"

He should spell things out for the NNT as well.

Edited June 5, 2013 by Suradit69

[Suradit69]

Surely even 5 year olds know the baht will plummet and the reasons for it and the real reasons it was pushed so high.

Could you please explain in simple terms for my benefit,"the real reasons it was pushed so high."

Not being sarcastic here but I (and possibly a few others) don't know either the real or supposed reasons for the baht strength, just assumed it was because the UK and USA economies are in the shitter.

It was probably pushed high to fool the Thai people into thinking that Thailand's economy is sooooo good, and probably 90% of them believe it.

What you understand about this is really nothing much at all.

Yes, this comment implies 90% of the Thai population has a better grasp of what's happening than does the TV Thai bashing brigade.

[HerbalEd]

for me i hope the baht goes down,i travel to Thailand a lot,soon i will retire there,i will get a lot more baht for my dollar

Yes you will ... and you'll need all that extra baht to pay for the higher prices the devalued baht will create.

[AloisAmrein]

Finally the BoT has admitted, that a strong Baht is hurting to national eonomy because exports become too expensive. It also affects the tourism industry which is important for the economy of Thailand. When the Thai Baht goes up against to strongest currency of the world, the Swiss Franc CHF, something is completely wrong. See e.g. the rice export, now Vietnam is the biggest rice exporter in the world, not Thailand.

I have been many times to Thailand, and I lived there too, but now I prefer Laos and Vietnam, cheaper, nicer and better service, specially in Vietnam. Nice hotel rooms for 400 Baht, with excellent service and great breakfast included, where you can get this today in Thailand? The only disadvantage in Vietnam and Laos is the still slow transport, except the train, which is excellent too. But the people are more friendly and farangs are really welcome, not like in Thailand. Furthermore, Thailand is today a quiete dangerous place, at least in locations like Phuket, Pattaya, etc. Just read the postings here in Thai Visa.

[terryp]

Is this the ....S Man ...... Chalerm was talking about ...Soros going to hit the baht again LOL'

[lifeincnx]

Like like like like hope it goes in freefall bigtime

Careful about just looking at it through expat 'rose-colored' glasses.

Actually a free fall, as you call it, would not be a good thing. A free fall in any currency can spell regional disaster. That said, the Thai banking system has been playing footsie with an falsely inflated rate for far too long. More money at the top has been going out of Thailand than reinvesting internally. But Thailand is an export-based economy, regardless of what other posters feel IMO. They need a slightly weaker baht to remain competitive. So, it would be best for all if the baht stabilized OVER TIME at 31.5 to 32.25.

Keep an eye on THD, the exchange traded fund outside of Thailand. It will give you a day-day glimpse of how the market is faring internally and how outside investors are pulling back. I sold off a big chunk at USD $93, but am still holding some.

http://finance.yahoo.com/q?s=THD

[chiang mai]

Is this the ....S Man ...... Chalerm was talking about ...Soros going to hit the baht again LOL'

Soros never hit the baht the first time!

[ray23]

Hmmm !!!! A tough week, Rice Scheme major investor pills out and heads to Vietnam. Hand in the cookie Jar? There was something about an eggs problem as well. lot coming down the pike from the looks of it.

Wonder what that investment group knew that we don't?

It had ran 24% annual returns when it was here for years.

[AnotherOneAmerican]

Like like like like hope it goes in freefall bigtime

Careful about just looking at it through expat 'rose-colored' glasses.

Actually a free fall, as you call it, would not be a good thing. A free fall in any currency can spell regional disaster. That said, the Thai banking system has been playing footsie with an falsely inflated rate for far too long. More money at the top has been going out of Thailand than reinvesting internally. But Thailand is an export-based economy, regardless of what other posters feel IMO. They need a slightly weaker baht to remain competitive. So, it would be best for all if the baht stabilized OVER TIME at 31.5 to 32.25.

Keep an eye on THD, the exchange traded fund outside of Thailand. It will give you a day-day glimpse of how the market is faring internally and how outside investors are pulling back. I sold off a big chunk at USD $93, but am still holding some.

http://finance.yahoo.com/q?s=THD

Ridiculous

For those living on foreign sourced money, the worse the baht does, the better it is for them.

[PoodMaiDai]

Someone please get Chalerm on this.

[Phuket Stan]

Is this the ....S Man ...... Chalerm was talking about ...Soros going to hit the baht again LOL'

Soros never hit the baht the first time!

Who hit it

[stingray]

Like like like like hope it goes in freefall bigtime

And gasoline and all imported goods will go up in price BIG TIME. Tranportation go up BIG TIME! So even made in Thailand Goods go up BIG TIME, because high price gasoline! So everything come more exmensive again and peaple need more salary, etc. Who would invest in Thailand, when they transfer money back to Europe and get nothing in exchange? Not a very wise comment!

[Nickymaster]

Didn't it go up and down every day, just like every day?

What the hell is this press release for? Please be aware that currencies go up and down? Thanks for that.

I think this message is for Kitirat who believes that the BOT is solely responsible for any moment of the baht .

[ray23]

Like like like like hope it goes in freefall bigtime

And gasoline and all imported goods will go up in price BIG TIME. Tranportation go up BIG TIME! So even made in Thailand Goods go up BIG TIME, because high price gasoline! So everything come more exmensive again and peaple need more salary, etc. Who would invest in Thailand, when they transfer money back to Europe and get nothing in exchange? Not a very wise comment!

Funny I didn't see the price of any of this going down as the baht gained strength. Not saying your wrong. But, I would be more confident had I seen the prices go down.

[chiang mai]

Is this the ....S Man ...... Chalerm was talking about ...Soros going to hit the baht again LOL'

Soros never hit the baht the first time!

Who hit it

The Thai's, the problem was the fixed link to USD, the BOT didn't have enough foriegn currency to support the rate of exchange:

http://en.wikipedia.org/wiki/1997_Asian_financial_crisis

What is common between then and now however is that "hot" money was/is a major factor.

[AnotherOneAmerican]

plus see earlier comment re GBP deval..

Try reading the link provided.

[aussiebebe]

Like like like like hope it goes in freefall bigtime

And gasoline and all imported goods will go up in price BIG TIME. Tranportation go up BIG TIME! So even made in Thailand Goods go up BIG TIME, because high price gasoline! So everything come more exmensive again and peaple need more salary, etc. Who would invest in Thailand, when they transfer money back to Europe and get nothing in exchange? Not a very wise comment!

Funny I didn't see the price of any of this going down as the baht gained strength. Not saying your wrong. But, I would be more confident had I seen the prices go down.

I live in Thailand and I don't understand it either. I'm not in finance or anything obviously but I wonder what the average Thai makes of it. With oil futures traded in dollars and the baht strong against the dollar (or the dollar weak against the baht) - why isn't gasoline cheaper? Why are the prices of goods higher?

[bigbamboo]

He thinks the baht is about to go into freefall, and wants to be on record as the guy that warned everyone.

Don't mention the loan the country can't get (too risky), the enormous amounts of money they lost in the rice scheme, or the elephant in the room.

He is taken his orders from Soros Soros told his close friends watch 60 baht to the dollar

Are you one of his close friends then, harry?

[metisdead]

Off topic posts and replies have been removed.

[harryfrompattaya]

He thinks the baht is about to go into freefall, and wants to be on record as the guy that warned everyone.

Don't mention the loan the country can't get (too risky), the enormous amounts of money they lost in the rice scheme, or the elephant in the room.

He is taken his orders from Soros Soros told his close friends watch 60 baht to the dollar

Are you one of his close friends then, harry?

No but I have relatives that women for hin as maids and gardens they all have ears. They give us tips. Even thru we believe this is inside trading

[GentlemanJim]

He thinks the baht is about to go into freefall, and wants to be on record as the guy that warned everyone.

Don't mention the loan the country can't get (too risky), the enormous amounts of money they lost in the rice scheme, or the elephant in the room.

He is taken his orders from Soros Soros told his close friends watch 60 baht to the dollar

Are you a close friend of Soros Harry? Or maybe the people Soros is talking to shouldn't be considered close friends if they're blabbing about it, or maybe it has been made up by somebody.

[harryfrompattaya]

He thinks the baht is about to go into freefall, and wants to be on record as the guy that warned everyone.

Don't mention the loan the country can't get (too risky), the enormous amounts of money they lost in the rice scheme, or the elephant in the room.

He is taken his orders from Soros Soros told his close friends watch 60 baht to the dollar

Are you a close friend of Soros Harry? Or maybe the people Soros is talking to shouldn't be considered close friends if they're blabbing about it, or maybe it has been made up by somebody.

Sorry you do not have any maids in your familiy

[Postmaster]

Get ready to hit the markets lads

[harryfrompattaya]

Get ready to hit the markets lads

The Set shall be down 8 per cent by August 2013 Now Now Now I remember all you Gold loves

[BahBahBoBo]

Like like like like hope it goes in freefall bigtime

I hope the baht remains stable, for the good of a country and people I like and admire.

I hope that the economy of Thailand improves so that Thai people can be more equitably paid for their work, even if it means greater costs for us foriegners.

Anyone who wishes other than this are selfish greedy (deleted) who in truth, have no problem to see others suffer as long as 'they get the goodies'.

A sad statement on their moral and human levels.

That is the worst of the capitalist traits, the desire to live better than others on the backs of their labours and/or losses. Anyone who wishes that kind of crap should go the hell home and then remember how nice Thailand was.

[AnotherOneAmerican]

Like like like like hope it goes in freefall bigtime

I hope the baht remains stable, for the good of a country and people I like and admire.

I hope that the economy of Thailand improves so that Thai people can be more equitably paid for their work, even if it means greater costs for us foriegners.

Anyone who wishes other than this are selfish greedy (deleted) who in truth, have no problem to see others suffer as long as 'they get the goodies'.

A sad statement on their moral and human levels.

That is the worst of the capitalist traits, the desire to live better than others on the backs of their labours and/or losses. Anyone who wishes that kind of crap should go the hell home and then remember how nice Thailand was.

Silly post

The value of the baht is largely irrelevant to normal Thai people.

They don't go abroad, most food and resources are produced locally.

Example

Egg prices, went up from 74bht/30 to 110bht/30 in the last two weeks, not because of a baht value change.

Base petrol and diesel prices same as 5 years ago, but Baht 10% stronger against $$$.

Edited June 5, 2013 by AnotherOneAmerican

[Thai at Heart]

Like like like like hope it goes in freefall bigtime

I hope the baht remains stable, for the good of a country and people I like and admire.

I hope that the economy of Thailand improves so that Thai people can be more equitably paid for their work, even if it means greater costs for us foriegners.

Anyone who wishes other than this are selfish greedy (deleted) who in truth, have no problem to see others suffer as long as 'they get the goodies'.

A sad statement on their moral and human levels.

That is the worst of the capitalist traits, the desire to live better than others on the backs of their labours and/or losses. Anyone who wishes that kind of crap should go the hell home and then remember how nice Thailand was.

The value of the baht is largely irrelevant to normal Thai people.

They don't go abroad, most food and resources are produced locally.

Having quite a good business friend throw himself off a building because of his debts, wishing a financial collapse on any country is horrendous.

But the piper will be paid.

Edited June 5, 2013 by Thai at Heart

[chiang mai]

Not entirely, oil is paid for in USD so there's an impact there.