Thai Baht hits weakest level in nearly 4 years as SET continues slump

[robblok]

Maybe the investors are afraid of some new and costly election promises by the man in Dubai and his clone underminig the already stressed budget

2 months move 1 baht. How afraid is that?

3 baht plus to the euro and if you take the months before that it dropped even more. That is almost 10% or more against the euro.

[thailiketoo]

Maybe the investors are afraid of some new and costly election promises by the man in Dubai and his clone underminig the already stressed budget

2 months move 1 baht. How afraid is that?

3 baht plus to the euro and if you take the months before that it dropped even more. That is almost 10% or more against the euro.

If the Thai baht were measured against the Euro....... But it's not. It is measured against the dollar and has barely moved one baht. This thread is a sham, scam, or whatever you want to call it. A one baht movement means that the chairman of the Fed blew his nose or some such other economic indicator. The rest is nonsense.

[ginjag]

April 2013. rate was 44 baht to one pound sterling-----------------today 54 near............I am quite happy with that 1000 pound a month is giving 10,000 bht extra a month. (rent free) or 5 months and a free flight return to UK.

[northernjohn]

Political uncertainty driving away foreign investors

By Digital Content

BANGKOK, Dec 24 – Thailand's volatile political situation may compel foreign investors to shift their investments to other countries, the president of the Stock Exchange of Thailand (SET) warned yesterday.

Charamporn Jotikasthira said it is impossible to project daily trading volume on the Thai bourse for next year in light of the current political disorder and protests.

Thailand made a record among Southeast Asian countries this year with the highest daily trading volume at Bt51 billion but the next assessment will have to wait until February next year, he said.

“We have yet to see if the general elections will be held on February 2 as announced. Thailand should end the political conflicts as soon as possible, or it will lose investment opportunities,” he said.

He said economies of most developed and neighbouring countries have strengthened and investors will possibly relocate their investments elsewhere if political conflicts in Thailand continue.

Mr Charamporn said SET has projected an injection of Bt210 billion from newly-listed companies into the Thai bourse after making a record high in a decade at Bt346 billion this year.

Daily trading in the futures market will be increased to 75,000 units - an increase from this year’s 67,862 units while 80,000 new investors will be included, he said.

Investment value will be increased from this year’s Bt152 billion to Bt180 billion, he said, adding that many companies are interested in investing in the Thai stock market, pending a normal political situation and favourable investment climate.

Sathit Limpongpan, SET chairman, said next year’s gross domestic product will grow 4 per cent under various conditions including general elections, budget disbursement as targeted, 6 per cent export growth and strengthened domestic consumption.

As with the tourism sector, the political situation has not impacted the Thai bourse, he said. (MCOT online news)

-- TNA 2013-12-24

The election will not stop the political conflicts. It will put them on the back burner but they will still be there. Foreign Investors will be watching and well aware of the presence of the uncertainty. Yingluck has come up with a plan to improve the political situation but she has stipulated that she will have to be in control of it. She absolutely no way wants election reform before the election there by guaranteeing her reelection.

With her past record of failures and ignoring the people who want to improve Thailand it is highly doubtful foreign investors will feel secure in what she says.

She should take a look at her track record and try to right it. That way she could build up some credibility. Notice not a word about Thaksin. Why is that. To bring reunification to Thailand she has to work on dealing with all the people in Thailand. Not just white wash one man and drive the inflation rate up. Also she has to make a honest effort to end corruption. It like in all countries will always be with us but it can be lowered. Under her present commission to fight it it has increased from 63% corrupt to 65% corrupt. Noe exactly reassuring figures but more in line with her whole administration's accomplishment's.

One of the first things she should do is get rid of all the so called advisers and speech writers she has and bring in competent help.

[puck2]

Maybe the investors are afraid of some new and costly election promises by the man in Dubai and his clone underminig the already stressed budget

2 months move 1 baht. How afraid is that?

let's have a look at

and compare it with

(double-click)

Edited December 24, 2013 by puck2

[TallGuyJohninBKK]

If the Thai baht were measured against the Euro....... But it's not. It is measured against the dollar and has barely moved one baht. This thread is a sham, scam, or whatever you want to call it. A one baht movement means that the chairman of the Fed blew his nose or some such other economic indicator. The rest is nonsense.

The baht was under 29 to the U.S.$ back in April for the calendar year low and spent most of the first half of the year under 30.

Now it's above 32.6 and predicted to hit 33 into the new year. That's above a 10% swing from the recent calendar year low, and almost 7% from Jan. 1, 2013.

Edited December 24, 2013 by TallGuyJohninBKK

[SaamBaht]

At what level is it a buying opportunity?

[slipperylobster]

Now I get to break even after two years of low exchange rates and extra charges at the ATM. Hopefully carry in dollars next trip and now use the ATM for six months... That ought to teach em.

[whatawonderfulday]

Wait and hope it gets back to early 2006 levels at 39 to $ US.

[slipperylobster]

Now I get to break even after two years of low exchange rates and extra charges at the ATM. Hopefully carry in dollars next trip and now use the ATM for six months... That ought to teach em.

correction...

Hopefully carry in dollars next trip and noT use the ATM for six months

[bigbamboo]

Political uncertainty driving away foreign investors

By Digital Content

BANGKOK, Dec 24 – Thailand's volatile political situation may compel foreign investors to shift their investments to other countries, the president of the Stock Exchange of Thailand (SET) warned yesterday.

Charamporn Jotikasthira said it is impossible to project daily trading volume on the Thai bourse for next year in light of the current political disorder and protests.

Thailand made a record among Southeast Asian countries this year with the highest daily trading volume at Bt51 billion but the next assessment will have to wait until February next year, he said.

“We have yet to see if the general elections will be held on February 2 as announced. Thailand should end the political conflicts as soon as possible, or it will lose investment opportunities,” he said.

He said economies of most developed and neighbouring countries have strengthened and investors will possibly relocate their investments elsewhere if political conflicts in Thailand continue.

Mr Charamporn said SET has projected an injection of Bt210 billion from newly-listed companies into the Thai bourse after making a record high in a decade at Bt346 billion this year.

Daily trading in the futures market will be increased to 75,000 units - an increase from this year’s 67,862 units while 80,000 new investors will be included, he said.

Investment value will be increased from this year’s Bt152 billion to Bt180 billion, he said, adding that many companies are interested in investing in the Thai stock market, pending a normal political situation and favourable investment climate.

Sathit Limpongpan, SET chairman, said next year’s gross domestic product will grow 4 per cent under various conditions including general elections, budget disbursement as targeted, 6 per cent export growth and strengthened domestic consumption.

As with the tourism sector, the political situation has not impacted the Thai bourse, he said. (MCOT online news)

-- TNA 2013-12-24

The election will not stop the political conflicts. It will put them on the back burner but they will still be there. Foreign Investors will be watching and well aware of the presence of the uncertainty. Yingluck has come up with a plan to improve the political situation but she has stipulated that she will have to be in control of it. She absolutely no way wants election reform before the election there by guaranteeing her reelection.

With her past record of failures and ignoring the people who want to improve Thailand it is highly doubtful foreign investors will feel secure in what she says.

She should take a look at her track record and try to right it. That way she could build up some credibility. Notice not a word about Thaksin. Why is that. To bring reunification to Thailand she has to work on dealing with all the people in Thailand. Not just white wash one man and drive the inflation rate up. Also she has to make a honest effort to end corruption. It like in all countries will always be with us but it can be lowered. Under her present commission to fight it it has increased from 63% corrupt to 65% corrupt. Noe exactly reassuring figures but more in line with her whole administration's accomplishment's.

One of the first things she should do is get rid of all the so called advisers and speech writers she has and bring in competent help.

Your last comment is a complete non starter. We all know who her chief adviser and the one who dictates what she says in her speeches is and she can hardly get rid of him.

[aTomsLife]

If the baht devalues enough, perhaps the now-exorbitant price paid for Thai rice will come to align with the market. Think about it.

Edit: Also it would make the new minimum wage more in line with the wages in surrounding countries.

Edited December 24, 2013 by aTomsLife

[aTomsLife]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

[tragickingdom]

Now I understand why so many white-noses are Suthep supporters. It is all about there money. They have a secret deal: Suthep makes Thailand a failed state with money that is doing a Zimbabwean dive and they believe they prosper. They are little Suthep's in spe, it is not about the country but about their own prosperity.

[lostmebike]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

Agreed.

What about Sterling? From 40/41 Baht to the Pound in May this year I think to now nearly 54! That's huge gains for the Pound.

[thailiketoo]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

So how far back should the baht be measured to have relevance to the OP? Thai Baht weakest level in 4 years says the OP. Four years ago it was at 32 now it is at 32. Ya I'm a guru. The baht has moved in a 3 baht range for the past 4 years. HO HUM.

You want to know where is is going? Get on a plane and go the the US and ask the FED.

[thailiketoo]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

Agreed.

What about Sterling? From 40/41 Baht to the Pound in May this year I think to now nearly 54! That's huge gains for the Pound.

What about the Latvian Lat. It's now at 63.69 last year it was at 59. That's huge gains for the Lat.

This thread is about the value of baht to the US dollar.

Edited December 24, 2013 by thailiketoo

[lostmebike]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

Agreed.

What about Sterling? From 40/41 Baht to the Pound in May this year I think to now nearly 54! That's huge gains for the Pound.

What about the Latvian Lat. It's now at 63.69 last year it was at 59. That's huge gains for the Lat.

This thread is about the value of baht to the US dollar.

Oh yeah, the Lat! Forgot about the Lat

This thread is about the value of baht to the US dollar.

You are so right, forgive me

[MJP]

Devaluation won't hurt an export and tourism based economy in a bursting credit bubble.

It'll also take a bit of pressure off the MJP household.

[spirit47]

love it.. my salary comes in us $ so im very happy now

Thats the spirit!! The country you are living/working in are collapsing around you, but you get a few baht more, so everything is honky donky??

What happend to solidarity and seeing the bigger picture?

I think the only spirit you have, is in a bottle...

[marcusd]

"...many companies are interested in investing in the Thai stock market, pending a normal political situation and favourable investment climate."

This IS the normal political situation for Thailand. I suppose he could have meant a "normal" situation for a nation with a history of political and economic stability. Definitely not Thailand's state of normalcy.

money gone overseas now... Most will NOTflow back. Thai growth at 4%given the upheaval is very optimistic

Sent from my RM-892_apac_laos_thailand_219 using Tapatalk

[marcusd]

My local soup vendor asked me if I supported the protesters.

I said yes.

He then said "that's great! so you're one of us!".

I said no.

He was shocked and asked me as to why I support them then..

I told him that the more the Baht falls, the more money I get and the worse his economy gets and that everything would get more expensive for Thais.

He made a pretty dumb face.

Tomorrow, I'm chartering a huge bus and will bring another 200 protesters to a rally site.

Don't ever let them stop the protests, please.

That is funny, but I would be careful about buying your soup from him (or surrounding vendors) going forward. Thais don't forget stuff that.

Yup... That mercenary answer to a Thai is actually quite offensive.

Sounds like jackrich makes himself unpopular on and off thaivisa.

A Thai tries to be friendly to generate chat to make him feel welcome and he gets that sort of reply? way to go..... not.

that comment from jackrich is actually quite offensive full stop. Rude inconsiderate and selfish. The very attributes that cause poverty. Greed and contempt

Sent from my RM-892_apac_laos_thailand_219 using Tapatalk

[OJAS]

This thread is about the value of baht to the US dollar.

Why should we non-Americans be expected to give a toss about the THB's value against the USD?

The THB has declined from 43 to the GBP at the end of last April to 53 now (according to OANDA). A welcome change from the events of 2008 and 2010 which, perversely, resulted in the THB's value soaring against the GBP as I recall!

Edited December 24, 2013 by OJAS

[Yunla]

I'm getting a few extra baht on global exchange rate every month, but to be honest I would sooner lose those extra few personal bahts, and see Thailand prosper instead.

[aTomsLife]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

So how far back should the baht be measured to have relevance to the OP? Thai Baht weakest level in 4 years says the OP. Four years ago it was at 32 now it is at 32. Ya I'm a guru. The baht has moved in a 3 baht range for the past 4 years. HO HUM.

You want to know where is is going? Get on a plane and go the the US and ask the FED.

Again, that 3-4 baht range represents 10%-13%. If you only have a $1,000 in the bank, I can see why it wouldn't be a big deal to you.

For those bringing in, say, $2,000 a month from overseas accounts, at the end of the year it can represent over $2,000 of additional income. It's a very welcomed change. But if you don't think it's a big deal, hey, up to you.

[chiang mai]

You can view it all any way you wish and you can act as churlish as you chose, I really don't care!

What I do care about though is that the myth you put forward that all currencies in the world are rated against USD, is squashed because it's simply not true and there's no America bashing involved (paranoid are we). The people in London don't care what the rate of currency X is against USD, only what it is against GBP, Ditto the people in Europe, they care not a jot what the value is against USD, just against the EUR, and so on and so around the world - accordingly, the financial press and web sites quote those currencies not just against USD,

And now to be pedantic: in your example above it would be "...Thai Baht is DOWN to 33", not up because THB was falling.

Over and Out!

[thailiketoo]

In two months it dropped one baht. Are you all nuts?

Since last spring's highs, the baht has gone from under 29 to nearly 33 vs $1. That Is over 10%.

You must be an investing guru if you think a 10% swing is chump change.

So how far back should the baht be measured to have relevance to the OP? Thai Baht weakest level in 4 years says the OP. Four years ago it was at 32 now it is at 32. Ya I'm a guru. The baht has moved in a 3 baht range for the past 4 years. HO HUM.

You want to know where is is going? Get on a plane and go the the US and ask the FED.

Again, that 3-4 baht range represents 10%-13%. If you only have a $1,000 in the bank, I can see why it wouldn't be a big deal to you.

For those bringing in, say, $2,000 a month from overseas accounts, at the end of the year it can represent over $2,000 of additional income. It's a very welcomed change. But if you don't think it's a big deal, hey, up to you.

1 baht down in two months is not a trend. Don't bet the farm on it continuing to go down. It can trade within a baht range every day. We can compare the baht to 7 years ago or 7 minutes ago. In the past 60 days it had gone down 1 baht. I know you would like to stretch that but it really is only one baht. It is well within the day trading range of most currencies. Maybe you would get $2000 more depending on the time of day your trade was made.

The price of the baht has far more to do with the FED than a few folks blowing whistles in the street.

Edited December 24, 2013 by thailiketoo

[aTomsLife]

So how far back should the baht be measured to have relevance to the OP? Thai Baht weakest level in 4 years says the OP. Four years ago it was at 32 now it is at 32. Ya I'm a guru. The baht has moved in a 3 baht range for the past 4 years. HO HUM.

You want to know where is is going? Get on a plane and go the the US and ask the FED.

Again, that 3-4 baht range represents 10%-13%. If you only have a $1,000 in the bank, I can see why it wouldn't be a big deal to you.

For those bringing in, say, $2,000 a month from overseas accounts, at the end of the year it can represent over $2,000 of additional income. It's a very welcomed change. But if you don't think it's a big deal, hey, up to you.

1 baht down in two months is not a trend. Don't bet the farm on it continuing to go down. It can trade within a baht range every day. We can compare the baht to 7 years ago or 7 minutes ago. In the past 60 days it had gone down 1 baht. I know you would like to stretch that but it really is only one baht. It is well within the day trading range of most currencies. Maybe you would get $2000 more depending on the time of day your trade was made.

You are mistaken. 1 baht in a day is 3%, that is a very wild swing, and is certainly not typical.

Moreover, all indicators seem to point toward a trend of a strengthening dollar, and an economically weaker Thailand. Within the last few years, it's likely we witnessed a peak high for the Thai economy corresponding with a peak low in the U.S.

But, sure, things can change.

In the future, we could very well see again the baht at 30 or less to the dollar. But in the meantime -- which I hope turns out to be years and years -- I'm going to enjoy the relatively weak baht.

[thailiketoo]

So how far back should the baht be measured to have relevance to the OP? Thai Baht weakest level in 4 years says the OP. Four years ago it was at 32 now it is at 32. Ya I'm a guru. The baht has moved in a 3 baht range for the past 4 years. HO HUM.

You want to know where is is going? Get on a plane and go the the US and ask the FED.

Again, that 3-4 baht range represents 10%-13%. If you only have a $1,000 in the bank, I can see why it wouldn't be a big deal to you.

For those bringing in, say, $2,000 a month from overseas accounts, at the end of the year it can represent over $2,000 of additional income. It's a very welcomed change. But if you don't think it's a big deal, hey, up to you.

1 baht down in two months is not a trend. Don't bet the farm on it continuing to go down. It can trade within a baht range every day. We can compare the baht to 7 years ago or 7 minutes ago. In the past 60 days it had gone down 1 baht. I know you would like to stretch that but it really is only one baht. It is well within the day trading range of most currencies. Maybe you would get $2000 more depending on the time of day your trade was made.

You are mistaken. 1 baht in a day is 3%, that is a very wild swing, and is certainly not typical.

Moreover, all indicators seem to point toward a trend of a strengthening dollar, and an economically weaker Thailand. Within the last few years, it's likely we witnessed a peak high for the Thai economy corresponding with a peak low in the U.S.

But, sure, things can change.

In the future, we could very well see again the baht at 30 or less to the dollar. But in the meantime -- which I hope turns out to be years and years -- I'm going to enjoy the relatively weak baht.

52wk Range:28.6100 - 32.6450

[mikemac]

Now I understand why so many white-noses are Suthep supporters. It is all about there money. They have a secret deal: Suthep makes Thailand a failed state with money that is doing a Zimbabwean dive and they believe they prosper. They are little Suthep's in spe, it is not about the country but about their own prosperity.

Not quite sure what a "white-nose" is, but sounds better than being called a redneck.

I am all for the value of the baht falling, which is why I have been secretly hoping Yingluck and the 40 thieves get back into power come February. If they can't do it, nobody can.