The Baht Appreciates To Strongest Level In 7 Years

[chuchok]

Lets see now.

The Baht is getting stronger, so that means all imported goods should get cheaper...

All Exports will be harder to sell...

More expensive for most tourists to come here...

Everything is just dandy!

[Johpa]

The George Soros, the same George Soros whom backs moveon .org and others like it. The socialist whom backs every nutcase in the political left in the USA. Why he's a democrat and a friend to all suffering people in the world. He'd never harm anyone from the political left, he's a democrat.

You need to stop watching Fox News and reading Coulture trash books. Not that reading Soros is much fun, but although he is against the current US Republican regime, as we all should be, he is far, very far from being a "socialist."

[Anon999]

Yah but so much for your fellow country men the high cost of your currency means the cost of your goods are high and no work as your products costs are high, but I guess you Euro ######s don't care about work or making a living you just want to play the big man role, same as the English and there over valued pound

Sour grapes and uninfored too!

The £ sterling has been depreciating against the Thai baht and Euro for some months while remaining virtually unchanged against the US$. Today the £ is 66.4265/baht and 1.74518/US$. The US$ is currently 38.069/baht.

Maybe you can illuminate on your claim that Sterling is overvalued so we can all understand where your source of information comes from. Maybe nobody told you that the Thai baht floated long ago and is no longer fixed against the US$ and will therefore never return to 36 to 38 to the £ or 20 to the US$.

[Dah fahrang]

So 'this idiot' is wondering why PTT want 26.35 for a litre of diesel today?

If the Baht is SO strong against the US$, and Thai oil is paid for in US$, why have PTT slapped another (daily) 40 satang rise on diesel prices?

My idiot's brain says the price should go down - or, if world prices for oil are inexorably rising, then with the baht strength against US$, the price at the pumps in LOS should remain the same?

Who, besides the oil companies, are making big baht on this?

[OlRedEyes]

I seriously doubt the Baht has much upside to it. I just cannot see from whence this rise will come. If it is being supported and manipulated, the downside is quite a little canyon.

The banking sector seems a little worrying too. I certainly wouldn't consider shipping in a lot of funds at this stage. I doubt this will last more than at most a couple of months. It may sink back, or the whole ###### house of cards could come down.

Equilibrium.

Just my crazy 2 satang.

Edited April 10, 2006 by OlRedEyes

[mogoso]

The George Soros, the same George Soros whom backs moveon .org and others like it. The socialist whom backs every nutcase in the political left in the USA. Why he's a democrat and a friend to all suffering people in the world. He'd never harm anyone from the political left, he's a democrat.

You need to stop watching Fox News and reading Coulture trash books. Not that reading Soros is much fun, but although he is against the current US Republican regime, as we all should be, he is far, very far from being a "socialist."

Read moveon .org ideas and tell me thats not socialism

[nasa]

good news for the Asian.

[sattahipchris]

There's a lot of borrowing both on credit cards and big loans to finance property developement if the baht strengthens much further reducing exports with the associated loss of jobs and there is a failure to service loans then the whole lot can coming crashing down as it did in the past. How much specultive building is being done at the moment and how much still remains empty?

[SeanS]

So what to do? I need to bring in a pile of sterling dosh to buy a car in May/June. Bring it in now or wait?

Well I would bring it in now if you have it..... dont get stuck with legal trouble....bring it in $3,999 lumps so no Gov officials get wise to your cash infusion! Unless you want to pay tax bring in more than $10k :-)

You buyin something that smells funny???? just kiddin-

if you want to save money bring it in now :-)

Hi Forestcall can you explain more about Government taxes on bringing in more than $10k?

regards,

Sean

[SeanS]

So what to do? I need to bring in a pile of sterling dosh to buy a car in May/June. Bring it in now or wait?

Well I would bring it in now if you have it..... dont get stuck with legal trouble....bring it in $3,999 lumps so no Gov officials get wise to your cash infusion! Unless you want to pay tax bring in more than $10k :-)

You buyin something that smells funny???? just kiddin-

if you want to save money bring it in now :-)

Hi Forestcall can you explain more about Government taxes on bringing in more than $10k?

regards,

Sean

[Anon999]

So 'this idiot' is wondering why PTT want 26.35 for a litre of diesel today?

If the Baht is SO strong against the US$, and Thai oil is paid for in US$, why have PTT slapped another (daily) 40 satang rise on diesel prices?

My idiot's brain says the price should go down - or, if world prices for oil are inexorably rising, then with the baht strength against US$, the price at the pumps in LOS should remain the same?

Who, besides the oil companies, are making big baht on this?

Thailand buys its oil from the Dubai market and I do not know what the price is there. However, it is unlikely to differ greatly from the US or Asian markets. Currently Nymex crude for May is trading at 68.51 - 68.62 up US$ 1.17, that is just today.

Your assumption that pump prices should remain the same is on the basis that the baht is appreciatiing against the US$ at the same rate as oil is going up.

The price of petrol in the UK has also been rising quickly. At an exchange rate of 66 baht/£ the cost of a litre of 95 octane is about 62 baht in the UK while diesel is 62.70 baht.

The problems stem from uncertainty about the situation in Iran, rebels in Nigeria blowing up major pipelines and an ever increasing demand for oil in developing countries. OPEC the oil cartel say their members are pumping oil at virtually maximum capacity. Therefore the supply and demand situation says there's a shortage so the price rises!

Edited April 10, 2006 by Anon999

[pjallittle]

I don't think that there's anything mysterious about the Baht value as it's pegged to the US Dollar which has decreased in value. So it isn't really the case that the Baht has strengthened as much as it is the decreased valuation of the US Dollar. I wouldn't buy into the notion that anything Thailand did or will do has anything to do with the Baht going up or down, just a lot of hype.

Canada's currency has similarly increased in value, not because Canada or anything that it has done recently had done anything to cause it, again, it is simply because the USD went down.

The Euro, on the other hand, is very overvalued and has done nothing but hurt the common man who lives in the EU countries.

[dotcom]

So what to do? I need to bring in a pile of sterling dosh to buy a car in May/June. Bring it in now or wait?

Well I would bring it in now if you have it..... dont get stuck with legal trouble....bring it in $3,999 lumps so no Gov officials get wise to your cash infusion! Unless you want to pay tax bring in more than $10k :-)

You buyin something that smells funny???? just kiddin-

if you want to save money bring it in now :-)

Hi Forestcall can you explain more about Government taxes on bringing in more than $10k?

regards,

Sean

Pure Poppycock. I wire in big amounts - like $10,000. Several times a year. No Tax - EVER.

If you are buying a house you need to inform the bank ahead of time & they will earmark it as such.

I also go to immigration ONCE a year, not every 90 days & have never been told different by imm in 10 years.

[Prakanong2005]

I gad you are happy with you 45 Baht per Euro., a year ago is was over 50 per Euro

Not even a year ago - last September when the trend went below 50.

[Prakanong2005]

hehe funny story...

The baht is appreciating a few cents to the dollar, but the dollar keeps dropping to the Euro...

Conclusion: I get a lot more Baht for my Euros than before...

Thank god I get paid in Euros...

SD

Yah but so much for your fellow country men the high cost of your currency means the cost of your goods are high and no work as your products costs are high, but I guess you Euro ######s don't care about work or making a living you just want to play the big man role, same as the English and there over valued pound

And to think I thought Americans were exaggerating Canadians ands chips on their shoulders - I will not have to doubt our brothers in the "Special realationship" so much

[Prakanong2005]

The George Soros, the same George Soros whom backs moveon .org and others like it. The socialist whom backs every nutcase in the political left in the USA. Why he's a democrat and a friend to all suffering people in the world. He'd never harm anyone from the political left, he's a democrat.

You need to stop watching Fox News and reading Coulture trash books. Not that reading Soros is much fun, but although he is against the current US Republican regime, as we all should be, he is far, very far from being a "socialist."

Read moveon .org ideas and tell me thats not socialism

Soros a socialist - ROFLMAO

When you use terms that you understand I might give you credit but Fox News type hyperbole just highlights a political illiterate.

[gregor200]

it seems quite a normal reaction of offer and demand for money. Thaksin was selling thai stock (Shin) to Singapore. So they have to buy Thai Baht for paying it. Think they were paying some stock with futures, which was due end of March. Lets wait for end of April.

[srisatch]

Read This

http://www.atimes.com/atimes/Southeast_Asia/HC30Ae04.html

[LaoPo]

Read This

http://www.atimes.com/atimes/Southeast_Asia/HC30Ae04.html

Thank you Sriratch!

Very frigthening article and bad........bad for Thailand

Not surprising to me:

"This implies that a significant depreciation of the baht is probable in 2006"

and:

"In July 1997, the baht was devalued by 20% and by the end of that fateful year the depreciation of the baht against the US dollar exceeded 80%. As Thailand's political and social crisis deepens in the months ahead, and with it (NON)*confidence in the economy, a new financial and balance of payments crisis cannot be ruled out."

Note: I know that many of you will say: Hey, that's nice for me....my $'s and Euros will bring more Baht...but it goes far deeper than that on the long run.

* my mark

Note2:

The writer of this article forecasted the devaluation in 1997...

"Jephraim P Gundzik is president of Condor Advisers, Inc. Condor Advisers correctly forecast Thailand's exchange rate devaluation in 1997."

Take your precautions; settle your finances and investments!

LaoPo

Edited April 10, 2006 by LaoPo

[whitespider]

Yah but so much for your fellow country men the high cost of your currency means the cost of your goods are high and no work as your products costs are high, but I guess you Euro ######s don't care about work or making a living you just want to play the big man role, same as the English and there over valued pound

Sour grapes and uninfored too!

The £ sterling has been depreciating against the Thai baht and Euro for some months while remaining virtually unchanged against the US$. Today the £ is 66.4265/baht and 1.74518/US$. The US$ is currently 38.069/baht.

Maybe you can illuminate on your claim that Sterling is overvalued so we can all understand where your source of information comes from. Maybe nobody told you that the Thai baht floated long ago and is no longer fixed against the US$ and will therefore never return to 36 to 38 to the £ or 20 to the US$.

This is rubbish - the £ has fallen steadily against the dollar over the laslt few months from a high not long ago of $1.90+ to $1.74

I don't dispute your knowledge on these matters but you should get your facts right.

[stateman]

...bring it in $3,999 lumps so no Gov officials get wise to your cash infusion! Unless you want to pay tax bring in more than $10k :-)

You buyin something that smells funny???? just kiddin-

if you want to save money bring it in now :-)

a bit puzzled by forestcall's comment above. i am aware that bringing in $10k requiring reporting to US gov., while exceeding $20k requiring reporting to thai gov (i think!). 'thought that was to track large money movements. but not aware that bringing in >$10k requiring paying tax.

[john b good]

So what to do? I need to bring in a pile of sterling dosh to buy a car in May/June. Bring it in now or wait?

Well I would bring it in now if you have it..... dont get stuck with legal trouble....bring it in $3,999 lumps so no Gov officials get wise to your cash infusion! Unless you want to pay tax bring in more than $10k :-)

You buyin something that smells funny???? just kiddin-

if you want to save money bring it in now :-)

What the <deleted> are you talking about. I have been having my salary banked in Thailand for more than three years ($20,000/mth) and have never had to pay a tical in tax.

If every one believed everything that some people write here on the forum there would have to be a lot of dumb arse folks around.

[john b good]

I don't think that there's anything mysterious about the Baht value as it's pegged to the US Dollar which has decreased in value. So it isn't really the case that the Baht has strengthened as much as it is the decreased valuation of the US Dollar. I wouldn't buy into the notion that anything Thailand did or will do has anything to do with the Baht going up or down, just a lot of hype.

Canada's currency has similarly increased in value, not because Canada or anything that it has done recently had done anything to cause it, again, it is simply because the USD went down.

The Euro, on the other hand, is very overvalued and has done nothing but hurt the common man who lives in the EU countries.

Here is another person who is talking out of their rectum.

The Baht is not pegged to the greenback and it hasn't been pegged to the green back since around the 2nd July 1997

It's great how so many people who have only just discovered where Thailand is on the map suddenly become experts on anuthing and everything to do with the realm.

[Maigo6]

It's great how so many people who have only just discovered where Thailand is on the map suddenly become experts on anuthing and everything to do with the realm.

Haha...

Bit like the guys that come to Thailand on a 3 week Holiday, meet a girl in a Bar and become instant experts on Thai women.

Edited April 11, 2006 by Maigo6

[Soi Oz]

Yah but so much for your fellow country men the high cost of your currency means the cost of your goods are high and no work as your products costs are high, but I guess you Euro ######s don't care about work or making a living you just want to play the big man role, same as the English and there over valued pound

Hmmm.... had your girl stolen by someone from Europe perhaps??

Edited April 11, 2006 by Soi Oz

[Joel Barlow]

A week ago I was at Bangkok Bank getting a cash advance (can't use my ATM card as it "contains insufficient information" i.e. doesn't have Taksin's little computer spying chip) and noticed a woman buying lots of 100 dollar bills with lots of B1000 bills. Smart move.

The international bankers (Geo Soros?) can't like T. CEO - he's a Triad sure. Putting pressure on - exports and tourism down, the middle class can buy more imports sure but they hate him anyway... certainly helps when the farmers (most hurt by this economic manipulation and unable to make debt payments as usual, despite it not being illegal loan sharks now) are supporting Fascist Populist measures which surely in the long run would have the baht at Burmese or Lao levels (think Turkey, Argentina, Mexico). Globalism has a lot at stake here, and I'm not talking overseas Chinese international businessmen!

It can't last. Sure the dollar is weak (W's 'strong dollar' policy the equivilant if the rolled socks in his avaitor crotch at the Mission Accomplished show), but the pound? This is not about "regional currencies". Where is a functioning press?

[jaiyen]

When I first went to Thailand 4 years ago it was only 22 baht to A$1. Since then it has risen to over 30 baht to a dollar and stayed there for about a year before going down over the last 4 months, which is really bad for anybody buying expensive items, I just bought land in Phuket and it has already cost me 10% more than if I had bought it in January. So remember we have had a good run with the Aussie dollar lately so the baht is only heading back to were it was. Bloody shame though !!

[Joel Barlow]

Read This

http://www.atimes.com/atimes/Southeast_Asia/HC30Ae04.html

Great article - thanks Srisatch! Why nothing like that in the Nation or Post?

The Venezuela parallel is perhaps less than questionable - yes, there's an urban/rural divide here - always has been - but Chavez as parallel to Taksin? We might as well be going on more about Soros as a socialist!

[Noel]

During the last quarter of last year, the baht strengthened very slightly against the UK Pound (dropping from 77 baht to 75 to the pound)/

Are you sure about that?

I seem to recall Sterling trading in the 70 to 73 range in that period.

[Noel]

So what to do? I need to bring in a pile of sterling dosh to buy a car in May/June. Bring it in now or wait?

Well I would bring it in now if you have it..... dont get stuck with legal trouble....bring it in $3,999 lumps so no Gov officials get wise to your cash infusion! Unless you want to pay tax bring in more than $10k :-)

You buyin something that smells funny???? just kiddin-

if you want to save money bring it in now :-)

Utter drivel...