Baht suddenly jumped against sterling

[captainhornblower]

Either UK elections or because tourism is up in LOS

It apparently stemmed from the televised general election debate that caused uncertainty in the markets because the SNP seemed to do so well and it caused jitters in the market and the pound weakened. Anyway that was the opinion of the BBC yesterday.

[billd766]

Here are the TT rates from the KBank for this year.

I take them around 9 am most mornings. There are no records for the weekends as the banks are normally closed.

Forex 2015 v1.xls

[Anon999]

The forthcoming General Election on 7th May and the associated TV shows with the parties leaders. That's coupled to the 'selective' audience selection by the various pollsters who have an interest in stirring the pot for their own benefit, 4 different winners from the last 'show' according to them! Unfortunately we'll have to wait until the final outcome is known and if it will be another coalition. Voters quite often make up their minds in the voting booth!

The GBP could fall further across the board until then and at our expense of course. It could be a rough ride for a few more weeks or even longer if the outcome doesn't result in a stable government. However, should the next one leave the 'kitty empty' like the previous lot we're be in dead trouble.

Edited April 7, 2015 by Anon999

[northernphil]

Wo is me.. I have uk pension

Me too ,already down 3450B on the same time last year.

[billd766]

Wo is me.. I have uk pension

Me too ,already down 3450B on the same time last year.

The forex from KBank for 2014.

Forex 2014 v1.xls

[Anon999]

Wo is me.. I have uk pension

Me too - and it's not a "sudden drop" £ has been declining against the baht for the last 12 months - see

www.x-rates.com/graph/?from=GBP&to=THB

Today is up slightly at 48.398

The GBP started dropping after 4th July when it was 55.5 baht/£ (TT rate 54.3775 at BKK Bank). However, the real figure of interest is the TT rate and currently the BKK Bank TT rate is 48.0375. It jumped up from 47.865 at the close on Thursday. Remember although the currency markets never sleep the Easter weekend meant there was no change for 4 days as far as the public were concerned.

Edited April 7, 2015 by Anon999

[Berkshire]

The Thais are copying the Chinese and artifially inflating the baht. No logical reason the baht is still so strong.

The Chinese have been notorious for artificially keeping the Yuan weak, not strong. Do you have any idea what you're talking about?

[ronwparker]

Tracks the US $,we poor UK guys are going to suffer and so will Thailand till the devalue the baht

[ronwparker]

The general promised to in May but I will only believe it when it happens

[Berkshire]

The general promised to in May but I will only believe it when it happens

The General promised what exactly?

[bangon04]

Wo is me.. I have uk pension

Wo is me.. I have uk pension? Oh how sad!

please don't dive from the balcony just yet..... the exchange rate may be back up next week....

unfortunately your UK pension will probably still be s**t

Edited April 7, 2015 by bangon04

[chiang mai]

The Thais are copying the Chinese and artifially inflating the baht. No logical reason the baht is still so strong.

Will you suggest ways in which they are doing that, please?

[chiang mai]

Wo is me.. I have uk pension

Me too - and it's not a "sudden drop" £ has been declining against the baht for the last 12 months - see

www.x-rates.com/graph/?from=GBP&to=THB

Today is up slightly at 48.398

The GBP started dropping after 4th July when it was 55.5 baht/£ (TT rate 54.3775 at BKK Bank). However, the real figure of interest is the TT rate and currently the BKK Bank TT rate is 48.0375. It jumped up from 47.865 at the close on Thursday. Remember although the currency markets never sleep the Easter weekend meant there was no change for 4 days as far as the public were concerned.

Not quite correct:

During weekends and holidays, management of the FOREX market passes from the banks to Thompson/Reuters and currency adjustments continue to be made. And for anyone who missed it, yes, that's the same Reuters who published the earlier article about the reasons for fluctuations in the FOREX market over the holidays. So whilst I do have some sympathy for the "smaller volumes" arguments, it would seem to me that the people who really ought to know the reasons for the fluctuations are the people who are managing the entire process and who report on such things to the financial community.

[northernphil]

What's this Forex ? I thought Forex was an Aussie beer !

[pattayasnowman]

Short term intra day fluctuations are normal and in themselves meaningless.

Looking for reasons are a waste of energy and time.

The long term currency tend is for a strong US Dollar which will mean a continual

weakening of the BP and a probable weakening of the BP/Baht rate

However, in my opinion the Thai Baht is artificially overvalued against the US Dollar

and if the Dollar strength continues may be forced into a revaluation.

A more realistic $US/Baht rate is 37 to 38

[Equalizer]

Because like idiots we have gone so far up Brussels ass hole anything that hits the fan in the Euro zone the sterling now takes a hiding along with it. The free trade movement has taken the investors from outside the Euro-zone away. Unlike yesteryear when we could monitor the ups and downs around the dollar, now we get hit from both sides.

[Srikcir]

It may be, for all the Junta's hoo-rah to join BRIC as part of their international currency pool and reject the USD as a world leading currency, that the Treasury may have kept a large reserve in USD's rather than taking the plunge in yuans and rubles. Brazil is also an economic basket case and India is tenious at best. So as the USD strenghtens against the other major world currencies, the baht is riding the USD "coat tails."

In actuality there have been no economic successes in Thailand that would prop up the baht. With 70% of its economy dependent on exports that are stagnant, and 20% in rising household debt and nonexistent government investment in the economy, the remaining 10% is tourism whose contribution to GDP growth in 2015 is questionable depending on the source of information. If Thailand loses more export value, ie., economic sanctions against the Junta from US and EU, the baht bubble will burst.

[sendbaht]

and to the USD?

Still 31 / 1.00

So, what is going on?

32 + to $1 and has been that way for awhile.

this is true, and even higher... BOOMER SOONER

Edited April 7, 2015 by sendbaht

[Naam]

The general promised to in May but I will only believe it when it happens

only in your wet dreams the general promised to devalue the Baht

[Gonsalviz]

and to the USD?

Still 31 / 1.00

So, what is going on?

Kasikorn is giving 32.42 today.

[MrWorldwide]

The Thais are copying the Chinese and artifially inflating the baht. No logical reason the baht is still so strong.

The Chinese have been notorious for artificially keeping the Yuan weak, not strong. Do you have any idea what you're talking about?

Beat me to it Berko. We get some classics in these threads but that one is so far off beam that it has to be a troll. The Yuan's real value has been a hot button issue between Washington and Beijing for years.

http://en.wikipedia.org/wiki/Renminbi_currency_value#Undervaluation

[meatboy]

weekend and hollidays aproaching gbp.down over 50satang on yesterday.

[Naam]

The Thais are copying the Chinese and artifially inflating the baht. No logical reason the baht is still so strong.

The Chinese have been notorious for artificially keeping the Yuan weak, not strong. Do you have any idea what you're talking about?

Beat me to it Berko. We get some classics in these threads but that one is so far off beam that it has to be a troll. The Yuan's real value has been a hot button issue between Washington and Beijing for years.

http://en.wikipedia.org/wiki/Renminbi_currency_value#Undervaluation

some of the classics qualify as collectibles

[EmptyHead]

I remember i transferred a lot of money when it was down at like 43 or something....I nearly committed suicide when it cam back up.

[billd766]

There is this link from today and you can choose the currency and the type of transaction. eg notes TT etc

http://bankexchangerates.daytodaydata.net/default.aspx

[meatboy]

weekend and hollidays aproaching gbp.down over 50satang on yesterday.

down some more at 18-00pm scb.TT rate morning 47.53 close of play 47.24.if your lucky.

[jerojero]

The US dollar is the leading currency because it still is the biggest economic force in the world. And for good or bad, it's the currency most countries are compared.

[billd766]

The US dollar is the leading currency because it still is the biggest economic force in the world. And for good or bad, it's the currency most countries are compared.

But for how much longer?

If all the countries in the world called in the bonds that they hold, then I would think that the USA would go bust very quickly and it it no use printing more paper money without anything to back it up with.

[Naam]

The US dollar is the leading currency because it still is the biggest economic force in the world. And for good or bad, it's the currency most countries are compared.

But for how much longer?

If all the countries in the world called in the bonds that they hold, then I would think that the USA would go bust very quickly and it it no use printing more paper money without anything to back it up with.

bonds have a maturity, they can't be called by the creditor at will. but assuming the latter would be the case then the creditors would hear what an American friend told me years ago, namely "we have the nukes!"

[Pib]

I like reading some of the statements about if/when/why the U.S. will go bust and how it will have little financial impact on the rest of the world. But all great empires eventually do come to end but when and why is really hard to determine.. After careful thought I have concluded one of the following events (with basically equal chances of occurrence) will bring down the U.S. sometime before the Sun's red giant stage engulfs the Earth and the event should have little impact on the rest of the world.

- The super volcano under Yellow Stone National Park re-erupts

- A huge asteroid impact on the U.S. heartland

- All U.S. nukes accidentally explode at once

- All U.S. issued bonds being are called in at once