Thai baht remaining strong

[paddyjenkins]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

[Berkshire]

Again, it's not that the baht is independently strong, it's just that other currencies are weak. Well, almost all other currencies:

http://money.cnn.com/2015/03/10/investing/strong-dollar-pros-cons/index.html

[SheungWan]

You so called economists have to laugh at conspiracy theories because you do not really have a clue as to why the baht remains strong. Not only in relation to the dollar appreciating against world currencies but regionally as well From one of the papers yesterday: The local economy which relies heavily on exports has slowed to a pace not seen in years. The .7% growth in 2014 was just the tip of the iceberg. To make matters worse the Thai baht has been among only a handful of currencies that has appreciated over the past few months. While the Singapore dollar, the Indonesian rupiah and Malaysian ringgit have devalued against the U.S. dollar

The problem with so-called non-economists is that they get their terms incorrect and show some limits to their understanding. As far as I am aware the Singapore dollar and the others referred to have not devalued against the USD. They have declined in their respective pairs but that is not the same thing at all. Re SGDTHB the rate has been fluctuating around the 24 mark for the last 4 years. The SGD has a loose peg against a basket of currencies. Its decline against the dollar will be partially as a result of the other junk in the basket. Frankly I am tempted to buy some SGD later this month at the current rate. Re THB its a difficult call. The Thai economy has the key investment of the Japanese car industry. While that holds and even expands don't hold your breath on a currency dive, subject to another bout of flooding etc.

As far as I am aware the Singapore dollar and the others referred to have not devalued against the USD.

incorrect "awareness"

last 6 months:

SGD USD...............-10.20%

IDR USD................-11.30%

MYR USD...............-16.40%

I didn't say they hadn't gone down.

[SheungWan]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Edited March 12, 2015 by SheungWan

[Naam]

The problem with so-called non-economists is that they get their terms incorrect and show some limits to their understanding. As far as I am aware the Singapore dollar and the others referred to have not devalued against the USD. They have declined in their respective pairs but that is not the same thing at all. Re SGDTHB the rate has been fluctuating around the 24 mark for the last 4 years. The SGD has a loose peg against a basket of currencies. Its decline against the dollar will be partially as a result of the other junk in the basket. Frankly I am tempted to buy some SGD later this month at the current rate. Re THB its a difficult call. The Thai economy has the key investment of the Japanese car industry. While that holds and even expands don't hold your breath on a currency dive, subject to another bout of flooding etc.

As far as I am aware the Singapore dollar and the others referred to have not devalued against the USD.

incorrect "awareness"

last 6 months:

SGD USD...............-10.20%

IDR USD................-11.30%

MYR USD...............-16.40%

I didn't say they hadn't gone down.

i humbly apologise for my lack of English. please explain hairsplit the meaning of

"As far as I am aware the Singapore dollar and the others referred to have not devalued against the USD."

[SheungWan]

i humbly apologise for my lack of English. please explain hairsplit the meaning of

"As far as I am aware the Singapore dollar and the others referred to have not devalued against the USD."

You will end up having to say that each and every currency movement, however large or small, both up or down is the same thing as a revaluation or devaluation. Which would be a devaluation and revaluation of meaning and significance.

Edited March 12, 2015 by SheungWan

[JB300]

Most of us did spreadsheets when we moved here with our home currencies. Despite having transferred significant AUD parcels at anything from 29.8 to 27.5 baht over the last 10 months, my 'cut and run' figure was 23.5 baht when I did my crystal balling in April 2014. The Aussie dipped below 77 US cents yesterday and the TT rate at my Thai bank is below 25 baht - I'll give it a couple of days to settle down but right now that 23.5 figure is a lot closer than I thought it would be this quickly, if that makes any sense.

I am under no illusions re Cambodia or anywhere else in the region - it's often swings and roundabouts when you start looking at prices - but at least if I'm buying USD I should be buying into a currency that's on the way up. I guess the continual doomsaying re property and household debt here have eroded my confidence in the baht. Still, at this point in time 100K baht will get me ~3K USD and that's looking awfully good right now.

Of course, said doomsayers are heppy to predict the demise of the world economy, but if that happens we're all screwed anyway. Think happy thoughts.

I'm sorry, I don't quite understand your logic...

If the majority of your funds are in THB why would the currency fluctuations affect you & why would you want to take a hit on changing it to USD to live in Cambodia?

If the majority of your funds are in AUD why would you want to move to a country that uses a currency that the AUD is dropping against?

FWIW, I did my spreadsheet calculations when the GBP:THB was around 45:1, I then re-did it when it was 55:1 & now redoing it at 48:1.

I'm trying to look at it like I'm getting an extra 3THB (approx 7%) to my GBP but it's hard not to look at the 2nd spreadsheet & feel that I've lost 7THB (approx 14%) to my GBP

The glass is 1/2 full JB, glass is 1/2 full [emoji106]

Edited March 12, 2015 by JB300

[paddyjenkins]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Really? Im sure i recently read that the head of the American central bank, Alan Greenspan, said he intended to revalue the USD? Maybe you missed what he said, i think it was in the Wall Street Journal.

[SheungWan]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Really? Im sure i recently read that the head of the American central bank, Alan Greenspan, said he intended to revalue the USD? Maybe you missed what he said, i think it was in the Wall Street Journal.

If you think that Alan Greenspan is the current head of the Federal Reserve then you need to check the settings on your Tardis.

[morrobay]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Really? Im sure i recently read that the head of the American central bank, Alan Greenspan, said he intended to revalue the USD? Maybe you missed what he said, i think it was in the Wall Street Journal.

That hack Greenspan has already devalued/debased the dollar when he lowered interest rates and promoted reckless financial deregulation that led to the financial crisis. Greenspan and some of the bankers should be in prison for treason. Quote from Stalin : " The way to destroy a country is to destroy its currency '

Edited March 12, 2015 by morrobay

[paddyjenkins]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Really? Im sure i recently read that the head of the American central bank, Alan Greenspan, said he intended to revalue the USD? Maybe you missed what he said, i think it was in the Wall Street Journal.

That hack Greenspan has already devalued/debased the dollar when he lowered interest rates and promoted reckless financial deregulation that led to the financial crisis. Greenspan and some of the bankers should be in prison for treason. Quote from Stalin : " The way to destroy a country is to destroy its currency '

Greenspan, bernanke and yellen are all just robots, programmed to print, unable to question their religious belief in modern monetarism, debase, financially repress, encourage unlimited borrowing and blow useless but dangerous asset bubbles....and their specific brand of stupidity and recklessness has spread across the globe like a virus....boj, ecb, boe....print, print, print....who will be next? They are more dangerous to mankind than the most lethal virus, worse than wars or plague....yes, maybe treason would be the right charge. Edited March 12, 2015 by paddyjenkins

[MrWorldwide]

@JB300, I'll get back to you in April after my trip to Cambodia. I was going anyway, regardless of the situations with the Aussie.

[JB300]

@JB300, I'll get back to you in April after my trip to Cambodia. I was going anyway, regardless of the situations with the Aussie.

Have a great trip, if you're going to PP check out Jerry's & KBAgent's threads about life there [emoji106][emoji106][emoji106]

[rijb]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Really? Im sure i recently read that the head of the American central bank, Alan Greenspan, said he intended to revalue the USD? Maybe you missed what he said, i think it was in the Wall Street Journal.

That hack Greenspan has already devalued/debased the dollar when he lowered interest rates and promoted reckless financial deregulation that led to the financial crisis. Greenspan and some of the bankers should be in prison for treason. Quote from Stalin : " The way to destroy a country is to destroy its currency '

The US Dollar reigns supreme again

Everybody is reading' a paper about how the world is now at the mercy of the US Federal Reserve

Edited March 12, 2015 by rijb

[Naam]

We could of course put a positive slant on all this, and stop using the word devalued against the USD, and say that the USD has simply revalued against the others. You know, half glass full and all that. And in future also have half your currency exposure in USD.

The Fed has made no recent announcements either revaluing or resetting the USD. A possible example of an actual revaluation/devaluation of a currency would be if the HKD reset its rate against the dollar. The Swiss franc in its two announcements both adopting a peg and dumping it, certainly did in practice. The mistake that many make is to confuse significant currency movements as being synonymous with an equivalent or similar move induced by a devaluation. We can certainly get stuck into grey areas as to whether the ECB has devalued the Euro with the new QE policy, but officially they have not. Maybe someone can point out where the Singapore Bank has officially devalued.

Really? Im sure i recently read that the head of the American central bank, Alan Greenspan, said he intended to revalue the USD? Maybe you missed what he said, i think it was in the Wall Street Journal.

If you think that Alan Greenspan is the current head of the Federal Reserve then you need to check the settings on your Tardis.

perhaps Greenspan went to Phuket and returned as Yellen?

[paddyjenkins]

Again, it's not that the baht is independently strong, it's just that other currencies are weak. Well, almost all other currencies:

http://money.cnn.com/2015/03/10/investing/strong-dollar-pros-cons/index.html

Exactly, you've hit the nail on the head, very rare to see such wisdom in this forum, which is usually nothing but a gutter for the ignorant to wallow in. And along the same lines, Christine Lagarde, the head of the US central bank known as the Federal Reserve, has been recently commenting too that the THB is not strong, its the other currencies that are weak and its up to them to intervene and hold a proper level of THB reserves. The United States is one of the few countries that does hold significant THB reserves and thats why its own currency, the USD, has held up well against the Bhat.

[SheungWan]

Again, it's not that the baht is independently strong, it's just that other currencies are weak. Well, almost all other currencies:

http://money.cnn.com/2015/03/10/investing/strong-dollar-pros-cons/index.html

Exactly, you've hit the nail on the head, very rare to see such wisdom in this forum, which is usually nothing but a gutter for the ignorant to wallow in. And along the same lines, Christine Lagarde, the head of the US central bank known as the Federal Reserve, has been recently commenting too that the THB is not strong, its the other currencies that are weak and its up to them to intervene and hold a proper level of THB reserves. The United States is one of the few countries that does hold significant THB reserves and thats why its own currency, the USD, has held up well against the Bhat.

With reference to this forum being a gutter for the ignorant to wallow in, now that Christine Lagarde has seemingly replaced Alan Greenspan as head of the Federal Reserve it could be that your Tardis is damaged beyond repair but I know a local motorbike taxi repair shop who say that they are able to fix these things.

[paddyjenkins]

Again, it's not that the baht is independently strong, it's just that other currencies are weak. Well, almost all other currencies:

http://money.cnn.com/2015/03/10/investing/strong-dollar-pros-cons/index.html

Exactly, you've hit the nail on the head, very rare to see such wisdom in this forum, which is usually nothing but a gutter for the ignorant to wallow in. And along the same lines, Christine Lagarde, the head of the US central bank known as the Federal Reserve, has been recently commenting too that the THB is not strong, its the other currencies that are weak and its up to them to intervene and hold a proper level of THB reserves. The United States is one of the few countries that does hold significant THB reserves and thats why its own currency, the USD, has held up well against the Bhat.

With reference to this forum being a gutter for the ignorant to wallow in, now that Christine Lagarde has seemingly replaced Alan Greenspan as head of the Federal Reserve it could be that your Tardis is damaged beyond repair but I know a local motorbike taxi repair shop who say that they are able to fix these things.

Sorry, i stand corrected. Its because i saw her on TV, testifying, and i did think she had put on a lot of weight, less a greyhound that spent too much time in the sun, more a grandmotherly dinner lady i recall a long time ago at school. In other words, i thought it was a fatter Lagarde, but was actually Yellen. But don't split hairs, the point was really about FX reserves. Edited March 13, 2015 by paddyjenkins

[SheungWan]

Again, it's not that the baht is independently strong, it's just that other currencies are weak. Well, almost all other currencies:

http://money.cnn.com/2015/03/10/investing/strong-dollar-pros-cons/index.html

Exactly, you've hit the nail on the head, very rare to see such wisdom in this forum, which is usually nothing but a gutter for the ignorant to wallow in. And along the same lines, Christine Lagarde, the head of the US central bank known as the Federal Reserve, has been recently commenting too that the THB is not strong, its the other currencies that are weak and its up to them to intervene and hold a proper level of THB reserves. The United States is one of the few countries that does hold significant THB reserves and thats why its own currency, the USD, has held up well against the Bhat.

With reference to this forum being a gutter for the ignorant to wallow in, now that Christine Lagarde has seemingly replaced Alan Greenspan as head of the Federal Reserve it could be that your Tardis is damaged beyond repair but I know a local motorbike taxi repair shop who say that they are able to fix these things.

Sorry, i stand corrected. Its because i saw her on TV, testifying, and i did think she had put on a lot of weight, less a greyhound that spent too much time in the sun, more a grandmotherly dinner lady i recall a long time ago at school. In other words, i thought it was a fatter Lagarde, but was actually Yellen. But don't split hairs, the point was really about FX reserves.

Janet Yellen a fatter Lagarde? Sure they're about the same height right? And hey-ho they're both in finance and Janet Yellen sort of dresses a little French. Ooh-La-Lah!

[tingtongtourist]

Yes it is ridiculous this theory that the thai "pros" have any bearing on fiscal policy of thailand and is the theory of small minds.

Having said however, i dont think there is another nation on earth that gets sent "free" money every month from idiots abroad who dont know what other business their "teeraks" are up to.

I have also heard enough Isaan stories of the German up the road who bought a house,car and bikes, and then went back home a couple of years later.

No wonder the thais think farang is stupid.

If the economists in power of thai policy really did consider these things then they would certainly act to lower the baht as not to scare away the golden goose.

Actually considering the ability of thai women to dupe farangs,it might be fitting to call them "pros"

Many a farang say " only in thailand "

Yes indeed only in thailand do you want to buy a house you can never own and throw away all your life savings