Baht's weakening in line with other regional currencies, BOT says
The Nation

BANGKOK: -- The Bank of Thailand says the weakening of the baht is in line with the depreciations of other currencies in the region caused by market speculation that the US Federal Reserve will be able to increase its policy interest rate faster than expected.

The latest market consensus is that the United States will increase its policy rate in the third quarter of 2015.

The US announcement on Friday of a better-than-expected increase in the non-farm payroll in November has led to a strengthening of the dollar, BOT Assistant Governor Chantavarn Sucharitakul said. The payroll increased by 321,000 positions, against expectations of only 230,000.

Chantavarn said the baht was currently in the middle of the park when compared with other currencies in the region.

Asset outflows remain normal, with foreigners still net-sellers in the capital market. In the first 11 months of the year, they net-sold around US$1 billion. Currently foreigners hold 10 per cent of Thai government bonds, she said.

According to the Bloomberg website, the baht was at 33.074 per US dollar as of 5.45pm yesterday.

Supavud Saicheua, director of Phatra Capital, said the baht could reach 34 next year on the strengthening of the dollar.

Source: http://www.nationmultimedia.com/business/Bahts-weakening-in-line-with-other-regional-curren-30249380.html


-- The Nation 2014-12-09

Good for the exports and better for me that I will be getting more Baht

Good for the exports and better for me that I will be getting more Baht:thumbsup:

But you WON'T be getting more Baht because it remains ridiculously high against everything except the USD...so if your income is in Euros there is a net loss ( but just be grateful the drachma is history ).

Aussie is down nearly 20%, baht looking great,if you have baht.

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Aussie is down nearly 20%, baht looking great,if you have baht.

Not so good sending money from Oz though , plus bank charges rip off. today's rate 25.5 was 30 once.

25 is all bad, we got 31 this time last year.

Good for the exports and better for me that I will be getting more Baht

Only if you keep your money in a currency other than baht and change it next yr - for sterling it might be best to wait until after the election (hedging your bets on a tory win)

Aussies had it good for a while but back where it should be good news about the US dollar and i am real happy since I get me monies in dollars

The statement is not really true...The Lao KIP has gained nearly 2 % in the last month...

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Aussie is down nearly 20%, baht looking great,if you have baht.

Not so good sending money from Oz though , plus bank charges rip off. today's rate 25.5 was 30 once.

Cannot see how ? I sent money last week only cost was $35 . From nab to kasikorn

Aussies had it good for a while but back where it should be good news about the US dollar and i am real happy since I get me monies in dollars

If you are American how else would you "get yer monies"? Canadian dollars, Australian dollars, New Zealand dollars, Singapore dollars, . Enjoy your good luck, pray it lasts.

Where it should be is around 35 Baht to the $.

Aussie is down nearly 20%, baht looking great,if you have baht.

I do feel great, sent a load of it back home today.....

Aussies had it good for a while but back where it should be good news about the US dollar and i am real happy since I get me monies in dollars

If you are American how else would you "get yer monies"? Canadian dollars, Australian dollars, New Zealand dollars, Singapore dollars, . Enjoy your good luck, pray it lasts.

I'm English

Aussies had it good for a while but back where it should be good news about the US dollar and i am real happy since I get me monies in dollars

$$$$

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Aussie is down nearly 20%, baht looking great,if you have baht.

Not so good sending money from Oz though , plus bank charges rip off. today's rate 25.5 was 30 once.

Tell me about it!!! bought some more over to stock pile this trip, will probably take back. Just use what I deposited last time at 30.

P.S merry xmas all

Aussies had it good for a while but back where it should be good news about the US dollar and i am real happy since I get me monies in dollars

Aussie dollar is screwed, RBA is tipped to continue rate cuts next year

I wouldnt be surprised to see at least .75usd next year

Edited December 9, 201411 yr by Jdiddy

The baht is priced to high, seems to me they do not follow the rest of Asia and the world.

Is this a good time to move sterling or USD to Thailand? Any thoughts? Does anyone have any insight into the state of the banks here, given the corruption in every walk of life, there seems no reason to suspect that the banks have hidden debts and fraud. I have money in the banks here in bonds.....I read somewhere that in 2015 the bank insurance per account is being reduced dramatically to only one million baht per account....so if you have 10 million in an bond account and the bank goes bust, you lose 9 million baht. Anyone (knowledgeable) have thoughts on this?

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Aussie is down nearly 20%, baht looking great,if you have baht.

Not so good sending money from Oz though , plus bank charges rip off. today's rate 25.5 was 30 once.

Use the TT service.

Its almost 27 baht to the $1 AUD ....

http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx?banner=1

The baht is priced to high, seems to me they do not follow the rest of Asia and the world.

It is kept high so the Thai rich can buy houses in London and Monaco. I thought everyone knew this.

Aussies had it good for a while but back where it should be good news about the US dollar and i am real happy since I get me monies in dollars

Yes ,back with the plebs now,lucky i didn't change up from Archa,not so far to fall.

Good for the exports and better for me that I will be getting more Baht:thumbsup:

But you WON'T be getting more Baht because it remains ridiculously high against everything except the USD...so if your income is in Euros there is a net loss ( but just be grateful the drachma is history ).

Buddha bless America!

Good job Barack!

correct would be the $ is strengthening. Baht is more or less stable if compared against a basket of currencies.

I always use OzForex to transfer funds from australia....today around 27baht/aud, always better rate and service than the major banks.

......seems like quite an unfounded leap of logic/faith........

No telling how much has been buried, stacked in vaults, etc physically due it being ill gotten gains. You can just build so many family homes, hotels lease companies, etc and the many ways to launder money are being exposed may be leaving a humoungus amount of paper bills lieing around.

25 is all bad, we got 31 this time last year.

I wonder where all thos posts have gone that claimed that getting +8% on a saving account when the Aus$ was 33 to the Baht had nothing to do with devaluation risk.

Why is a pack of cigarettes 40 baht in Laos and 95 baht in Thailand. Why is a can of beer in Thailand the same price as a can of beer in England? Why is a night out in Madrid with the ladies cheaper than in Pattaya? Why oh Why? The baht is too strong! Your breaking my sexpat heart Prayuth.

25 is all bad, we got 31 this time last year.

The actual official spot rate is one AUD = 27.3069 THB...never change it in Oz as it's an absolute rip off!

There is a Superrich money exchange at Suvarnabhumi Airport now by the way...located down on the same level as the Airport Train

it is to the extreme left of the moving escalators down towards the ticket booth there..just ask the tourist police booth there if you can't find it as it is well hidden

and gives the same rate as the city Superrich does!