Thai Baht in biggest weekly fall in four months after US Fed move

[casindonet]

40 to a dollar would be nice....back to the good old days. Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

Good for selfish people like you, but not good for Thai people who want to travel abroad. Funny how so many expats on this forum just think of themselves. Why care about anyone else, as long as you're ok.

I'll buy you a beer when the baht hits 40 to a dollar to drown your sorrows;)

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[4.real]

YIPPEEEEEEEE, from 44 baht to the pound sterling to 54 in a few months, YIPPPPEEEEE

Still along way to got to equal the 101 baht to the pound in Jan.1998.You could buy petrol for 11 baht a litre then and a baht bus on Koh Samuii cost 10 baht wherever you went.

[Maipenrai007]

This headline should read "USD strengthens", as it has done against all of the other major currencies this week! I am waiting for the posts now of oh Thailand's doomed, it was bound to happen, Yinluck's fault, yellow/red shirts etc........... Yawn!

Simple fact, the US$ has strengthened globally on the back of the reduced amount of bond purchases from the FED.

Then why also the Euro and other currencies are getting stronger against the Thai baht?

http://au.finance.yahoo.com/q/bc?s=USDEUR=X&t=5d&l=on&z=m&q=l&c=

USD vs Euro - USD is strengthening!!

[NCFC]

The $64 million dollar question is: do we bring our money into the country now, or wait?

[marcusd]

The US still are printing over 80 BILLION usd each and every month. That is 1 TRILLION usd a year. Ditch the usd as standard or go down with it.

it wont happen. The US has many ways to turn around anyone with an ounce of business sense knows this. The US corporations have huge turnoversthe government can tap into.

You also forget the single biggest cost to the USA is ENERGY IMPORTS and within a few years or sooner they will be an exporter. This has a 2 fold effect. Reduced costs of borrowings and lower need for loans

and a increase in foreign income from exporting.

The weakened baht is good for exports here and us foreigners

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[Thai at Heart]

I would starve as a currency trader...

I pulled 40k on Dec 19 and received 32.08. Had I waited I would have received around 32.60; about 640 baht more in my pocket.

Even modest changes in the exchange rate add up over the long term

Yes, what I have to bring over soon for a car and condo will have increased by about 200,000 baht by the UK pound increasing in value from 50 baht/pound to 53. however, western currencies still have a long way to go to recover what they lost since 2008.

The west is unwinding it's stimulus packages and the Thais are doing their best to shoot their foot.

It all got a bit rich at 29 to the USD, and export growth faltered. So down it goes like magic.

Wait for the protests to stop and everything to calm down. Maybe 31 to the USD.

[marcusd]

The more the Thai government tries to save face the more baht goes into our pockets. Keep up the good work .

nothing to do with saving face... That is an ignorant statement.

Its more that there are totally incompetent people making what they think and assume are DECISIONS

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[Carrerakiss]

40 to a dollar would be nice....back to the good old days. Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

Good for selfish people like you, but not good for Thai people who want to travel abroad. Funny how so many expats on this forum just think of themselves. Why care about anyone else, as long as you're ok.

Well who else is going to think of us? I don't wish Thai people wanting to travel abroad any harm, but I'm with the road wanting 40 baht to the dollar. Call me selfish if you want, but wanting 20 to the dollar would be stupid and harm local Thais because I wouldn't be able to spend so much locally.

Unless your post was just to juice up some reaction.......

[jaltsc]

The more the Thai government tries to save face the more baht goes into our pockets. Keep up the good work .

nothing to do with saving face... That is an ignorant statement.

Its more that there are totally incompetent people making what they think and assume are DECISIONS

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Never said it was a cause and effect. Only a relationship. I have more spending power today than I did 8 months ago, no matter what the cause. Don't need to be an economic or mathematical wizard to figure that one out.

[marcusd]

That is why Benito Sutheppi is so popular with some posters here!!

He is increasing the value of their pensions!

The rice scheme has a way higher influence than all of Sutheps actions. Any idea where that scheme came from?

Any idea where that scheme came from?

Yes, commonly used in developed countries. The US provides subsidies to most agriculture crops since food in necessary for all of the citizens of that country. You must do everything in your power to see that the farmers keep farming, because without them...well obviously you know the answer to this. It takes a special person to be a farmer, and it is usually passed down from generation to generation. You don't see business people deciding to become farmers. Don't force farmers to become bankers, because you will not have anyone to grow your food supply.

I must say that the Thai government made the wrong decision to pay subsidies and then thinking they could raise the price of rice on the world market. Sheer lunacy. They should have just risen taxes to support the subsidies and be done with it. Thinking they could move the market price of rice around the world was their downfall here, and made it seem like the entire program (scheme) was faulty. Not so, just their implementation. They were correct in supporting the farmer. (And no, I have never been a farmer. You could never get me to work that hard for so little.)

Do not forget that the Thai government is also supporting rubber growers, most of whom are in the south. The world over supply will get worse as vast new plantations in neighbouring countries start producing latex. This scheme has tha potential to dwarf the problems with the rice pledging scheme.

I buy latex products and export to Australia.

Thai later gloves for example. Wholesale at double that of Malaysia. So guess who is winning the market?

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[marcusd]

40 to a dollar would be nice....back to the good old days. Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

Good for selfish people like you, but not good for Thai people who want to travel abroad. Funny how so many expats on this forum just think of themselves. Why care about anyone else, as long as you're ok.

I travel exstensively. I have never seen queues of Thais travelling overseas or when boarding....

Maybe I am at the wrong airport or are you referring to the few filthy rich and politicians?

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[marcusd]

The $64 million dollar question is: do we bring our money into the country now, or wait?

I would say it is prudent to only bring what you need.

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[Cheops]

This headline should read "USD strengthens", as it has done against all of the other major currencies this week! I am waiting for the posts now of oh Thailand's doomed, it was bound to happen, Yinluck's fault, yellow/red shirts etc........... Yawn!

Simple fact, the US$ has strengthened globally on the back of the reduced amount of bond purchases from the FED.

Then why also the Euro and other currencies are getting stronger against the Thai baht?

http://au.finance.yahoo.com/q/bc?s=USDEUR=X&t=5d&l=on&z=m&q=l&c=

USD vs Euro - USD is strengthening!!

I'm not an expert I have to say, but if I change the graph period to 3 months I see another picture: USD is weakening! (against the Euro) Edited December 21, 2013 by Cheops

[Ricardo]

One small ray of sunshine amongst the gloom, is that if the baht weakens then we farangs can be relied upon to increase our spending once more, which will give a small boost to GDP that would be very welcome to the domestic economy right now !

Over the past several years I've been spending ever more GBP & US$, to gain fewer THB, which has meant I've been increasingly tight on discretionary-spending for myself & my family.

That would definitely end, if the Baht were to crash, as a result of PTP's economic-mismanagement.

Multiply by hundreds-of-thousands of farangs, then add-in the multiplier-effect, as the increased spending triggers further spending round-and-round within the economy.

That's got to be better for the Thai economy, than borrowing B2.2-trillion over 50-years and blowing it on 30%-corruption and infrastructure-ideas which never achieve payback, or on maintaining/increasing the world's largest mountain of rotting rice ?

[Thaiaddict01]

no need to rush into changing currency into THB right? wait till next year until US exit out QE completely?

[smooth expat]

What is keeping the USD afloat? It has no manufacturing/export sector anymore.

[flyingdoc]

So much will depend on what happens politically in Thailand during the next 2 months.

[Nemesis7]

There was a time one usd = 41 baht how I wish it becomes the same

[BillyBobThai]

What is keeping the USD afloat? It has no manufacturing/export sector anymore.

For year 2012 the US exported 2.2 trillion USD goods and services acording to the US Dept. Commerce.

Not bad for a country that has no mfg output.

Google is your friend.

[ginjag]

40 to a dollar would be nice....back to the good old days. Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

Good for selfish people like you, but not good for Thai people who want to travel abroad. Funny how so many expats on this forum just think of themselves. Why care about anyone else, as long as you're ok.

Crazy post--sorry but why didn't the Thai travel before when the rate was in their favour ??? we are selfish so it was our fault it went UK---pound from 80 down to 45, now it's going up 20% you say we are selfish. Yingluck took the good time to travel didn't she ???? If you are talking about rural Poor Thais in general 70% of them have never been to BKK ask all the elderly if they have been long distances. very few-----so buses (tour) for many are out of reach. Your last sentence is way out of order.---nice poster. welcome to your minority here.

[Frank James]

The truth is, Nobody Knows Nothing.

[ginjag]

YIPPEEEEEEEE, from 44 baht to the pound sterling to 54 in a few months, YIPPPPEEEEE

Still along way to got to equal the 101 baht to the pound in Jan.1998.You could buy petrol for 11 baht a litre then and a baht bus on Koh Samuii cost 10 baht wherever you went.

WoW I was here in 1980 and never got that, 80 ish was the highest I ever got, but never mind it's getting better, buys a few more things you hesitated about before. The biggest buy I recall in Pattaya was 3 T shirts for 100 baht---

[sawadeeken]

Does anybody remember the first 'baht' crash a number of years ago.? I am trying to recall the most baht for a dollar and it seems to me like it was about 54 baht to 1 USD. When I bought my house in Pattaya several years ago I think it was about 42 or 43 to 1 USD........... Just curious.............

[ginjag]

Does anybody remember the first 'baht' crash a number of years ago.? I am trying to recall the most baht for a dollar and it seems to me like it was about 54 baht to 1 USD. When I bought my house in Pattaya several years ago I think it was about 42 or 43 to 1 USD........... Just curious.............

Remember it well, I was on a budget holiday and the day I arrived it crashed so I upgraded my hotel accom--had a few tours on the house--and got one of them BIG jeep things for a week. It was like a lottery win.

[TPI]

YIPPEEEEEEEE, from 44 baht to the pound sterling to 54 in a few months, YIPPPPEEEEE

Swine! The Ozy dollar has dropped from 30+ to hovering on the 27-28 mark and looks like going lower...

[NeverSure]

What is keeping the USD afloat? It has no manufacturing/export sector anymore.

This is too stupid to even bother formulating links and a correction.

[mgjackson69]

40 to a dollar would be nice....back to the good old days. Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

Good for selfish people like you, but not good for Thai people who want to travel abroad. Funny how so many expats on this forum just think of themselves. Why care about anyone else, as long as you're ok.

Count me among the selfish...I guess I will have to cede the moral high ground to you.

Never mind that a weaker baht will help Thai exports, and have a positive effect on tourism to Thailand.

[Mackie]

What is keeping the USD afloat? It has no manufacturing/export sector anymore.

This is too stupid to even bother formulating links and a correction.

What is keeping the U.S government afloat would be a more accurate question? They are printing money. They are printing money on a massive scale. What is keeping the USD afloat? The U.S. military and the U.S. military sector.

Bringing Thai baht down is typical example l of Thaksin's policies. It's done on purpose. They need to revive export. And they will blame the fall of Thai baht on protests and loss of revenue which is considerably lower comparing it with 2009 and 2010 when Thaksin's brown boots and their irresponsible actions caused Thailand to lose double digit billions of USD in revenues. Not to mention job losses.

[HOOD Robin]

40 to a dollar would be nice....back to the good old days. Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

53 to a Euro like 10 years ago would also be nice !!

[TPI]

One small ray of sunshine amongst the gloom, is that if the baht weakens then we farangs can be relied upon to increase our spending once more, which will give a small boost to GDP that would be very welcome to the domestic economy right now !

Over the past several years I've been spending ever more GBP & US$, to gain fewer THB, which has meant I've been increasingly tight on discretionary-spending for myself & my family.

That would definitely end, if the Baht were to crash, as a result of PTP's economic-mismanagement.

Multiply by hundreds-of-thousands of farangs, then add-in the multiplier-effect, as the increased spending triggers further spending round-and-round within the economy.

That's got to be better for the Thai economy, than borrowing B2.2-trillion over 50-years and blowing it on 30%-corruption and infrastructure-ideas which never achieve payback, or on maintaining/increasing the world's largest mountain of rotting rice ?

Spot on! Dicretionary spending by Farang in CM has been guessed at 36 billion baht a year! Work it out, 60K ex-pats times at an average of ฿50K a month x 12 = ฿36,000,000,000.

And yet this still doesn't count the expected 23 million tourists this year! Any time someone says to you that you're not pulling your weight in Thailand show them the figures for Chiang Mai, and that's not even close to the amount in BKK or Pattaya!

So there!