Baht Could Reach 37.65 Per Dollar This Week

[george]

Baht could reach 37.65 per dollar this week

BANGKOK: -- The baht/dollar exchange rate could hit yet another new height this week as the Kasikorn Research Centre anticipates the baht to hover at the range of 37.65 to 38.15 per dollar.

Factors affecting the exchange rate this week include the US economic performance in the second quarter and the monthly key economic indicators for the month of June, which are due to be announced by the Bank of Thailand on Monday, the research house said.

During the past week, the baht rose steadily to strengthen against the dollar.

The Criminal Court verdict that the three members of the Election Commission broke the law helped to clear the air, pushing the baht on the back of the US dollar since mid-week to hit a two-week high at 37.79 on Thursday.

For the entire week, the baht averaged 37.82 per dollar compared to 37.95 the previous week.

--TNA 2006-07-30

[frenchFARANGbkk]

And in that situation what should happen with EURO ?

[marquess]

Baht could reach 37.65 per dollar this week

BANGKOK: -- The baht/dollar exchange rate could hit yet another new height this week as the Kasikorn Research Centre anticipates the baht to hover at the range of 37.65 to 38.15 per dollar.

Factors affecting the exchange rate this week include the US economic performance in the second quarter and the monthly key economic indicators for the month of June, which are due to be announced by the Bank of Thailand on Monday, the research house said.

During the past week, the baht rose steadily to strengthen against the dollar.

The Criminal Court verdict that the three members of the Election Commission broke the law helped to clear the air, pushing the baht on the back of the US dollar since mid-week to hit a two-week high at 37.79 on Thursday.

For the entire week, the baht averaged 37.82 per dollar compared to 37.95 the previous week.

--TNA 2006-07-30

All this talk about the Baht going up against the Greenback, isn't really showing the true picture, ask yourself the following questions, how has the Greenback been performing against the other major currencies say in the last three years? More importantly how much has the Baht appreciated against other major currenceis in the same period? Then you will find that it is in perpetual decline, check out the depreciation, against the Canadaian, Australian, NZ Dollars, and the UK pound. The Baht is a currency going no w here fast!

[CL0R0X]

the man post about baht/dollar, if you want to know other currency go look it up yourself, (blaa,blaa,blaa this and that). you people sound like oooh! i'm falling and i can't get up .

[Kerryd]

Then you will find that it is in perpetual decline, check out the depreciation, against the Canadaian, Australian, NZ Dollars, and the UK pound. The Baht is a currency going no w here fast!

I check the rates vs the Canadian $ pretty much every day (today it is 33.5829). A couple weeks ago it was almost a full baht per dollar higher. This decline would indicate a strengthening baht (and/or a weakening Canadian $), but there are many factors involved.

I've seen it before, where the baht appreciates vs one currency while depreciating vs another. It can be frustrating when you see the Canadian $ at all time highs compared to the US $, but losing strength against the baht.

What amazes me is how some people are trying to live here, and hanging on the exchange rate like it's a life or death matter. I know a guy living up country that literally goes into fits if the baht gains 5-10 satang versus the GBP (50-100 baht on 1,000 GBPs).

Then again, I suppose that could make the difference between an extra 2-5 beer a month, which could be a life or death matter for some people.

Exchange rates can be found here:

Xe.com

[Ricardo]

I suspect that DL's family & friends watch the strengthening Baht closely, and celebrate their increased wealth with every extra 10 satang it climbs, just wish they would move the 2 billion US$ overseas.

We might then see a weaker-Baht policy, to help tourism and exports, from the BOT ? Meanwhile our local farmers wonder why they can't compete with Chinese agricultural imports.

Speaking for myself, the past 18 months have seen the Baht gain at least 10% against my base-currency, add on several percent per annum for inflation, and you might begin to understand why some of us forum-members are feeling the pinch.

Edited July 31, 2006 by Ricardo

[Heng]

I suspect that DL's family & friends watch the strengthening Baht closely, and celebrate their increased wealth with every extra 10 satang it climbs, just wish they would move the 2 billion US$ overseas.

Why would he want to move it overseas from VI, CH, Singapore, etc.?

[chownah]

I suspect that DL's family & friends watch the strengthening Baht closely, and celebrate their increased wealth with every extra 10 satang it climbs, just wish they would move the 2 billion US$ overseas.

We might then see a weaker-Baht policy, to help tourism and exports, from the BOT ? Meanwhile our local farmers wonder why they can't compete with Chinese agricultural imports.

Speaking for myself, the past 18 months have seen the Baht gain at least 10% against my base-currency, add on several percent per annum for inflation, and you might begin to understand why some of us forum-members are feeling the pinch.

Ricardo,

I'm sure that the strong baht doesn't help but the real reason why Thai farmers have a difficult time competing with Chinese farmers is that Chinese farmers work for less and are perhaps more efficient. I don't know about farm efficiencies in general but for raising rice, Thailand is not nearly as efficient as Vietnam for instance....one thing is that the gov't run irrigation systems are very inefficient nation wide (from what I've heard) and my own irrigation canal is run in a really inefficient manner....

[Ricardo]

I suspect that DL's family & friends watch the strengthening Baht closely, and celebrate their increased wealth with every extra 10 satang it climbs, just wish they would move the 2 billion US$ overseas.

Why would he want to move it overseas from VI, CH, Singapore, etc.?

Nice one, Heng

Are the ill-gotten gains already up-and-gone, then ?

But they still have a fortune here, all that land, in Suvanapum-Thaksin Province, no ?

[Heng]

I suspect that DL's family & friends watch the strengthening Baht closely, and celebrate their increased wealth with every extra 10 satang it climbs, just wish they would move the 2 billion US$ overseas.

Why would he want to move it overseas from VI, CH, Singapore, etc.?

Nice one, Heng

Are the ill-gotten gains already up-and-gone, then ?

But they still have a fortune here, all that land, in Suvanapum-Thaksin Province, no ?

Hehe. Actually I have no idea, just like most folks, but I don't believe in Hollywood endings (like some folks here apparently do) where they find a warehouse full of loot at the end. It's pretty much common knowledge that there are plenty of places with fewer currency controls than Thailand. The fact that he incorporated his holding company in VI suggests that he has some idea of that fact as well.

As for his family's land holdings, sure, that's fair game,.... if in fact he did anything wrong. Myself, I can only recall seizures of land as assets in the news when the person in question was involved in narcotics, gambling, and infringing upon or illegally acquiring national park/government land. I don't think the PM falls into any of those categories.

Edited August 2, 2006 by Heng