Looks like the Baht getting weaker.

[elgordo38]

Needs to go to 40-USD

I remember the days of 75 to the pound, not much chance of seeing that again. We had 55 last year so maybe 60 is not out of the question.

The dollar is a different story altogether. The Yuan may very well send it the other way.

Depending on the jobs report tomorrow the USD may well send itself back the other way - unfortunately.

Yes it depends on what job numbers the government pulls out of their rabbit trick hat. After last months low numbers they better goose them up a bit or the stock market will really tank. I will be watching English politics closely I think voters made a mistake to hand the Conservatives a majority. Majorities bring out the worst in governments they ride rough shod all over the voters in this case the poor and marginalized. The rich will be standing in line for handouts.

[elgordo38]

The Thai elite held the baht high against the US dollar long enough for them to move their funds out of Thailand.

Now that that task has been completed, the baht will now be encouraged to freefall.

Its called currency commerce sell high buy back low. Its a rigged game like everything else.

[HOAX]

It has weakened a lot the last week or so, especially yesterday, but today it has actually strengthened compared to the Norwegian Krone at leased, but been stable for the last 5 hours.

June 2014 - 1 NOK = 5.50 THB

1 week ago - 1 NOK = 4.03 THB

Yesterday evening - 1 NOK = 4.59 THB

Now - 1 NOK = 4.48 THB

[Shiver]

Needs to go to 40-USD

I remember the days of 75 to the pound, not much chance of seeing that again. We had 55 last year so maybe 60 is not out of the question.

The dollar is a different story altogether. The Yuan may very well send it the other way.

Depending on the jobs report tomorrow the USD may well send itself back the other way - unfortunately.

Yes it depends on what job numbers the government pulls out of their rabbit trick hat. After last months low numbers they better goose them up a bit or the stock market will really tank. I will be watching English politics closely I think voters made a mistake to hand the Conservatives a majority. Majorities bring out the worst in governments they ride rough shod all over the voters in this case the poor and marginalized. The rich will be standing in line for handouts.

As a generalisation, Governments tend to get all the nasty stuff done in their first year or two in power, with the intention of smelling like roses by the time election time comes around again. From THB exchange rate point of view, there could be a bit of a tug of war there.

[jayceenik]

The Thai elite held the baht high against the US dollar long enough for them to move their funds out of Thailand.

Now that that task has been completed, the baht will now be encouraged to freefall.

When did your spies from the happy hour bar divulge this secrete information to you Bulldozer..

No need for Happy Hour bar spies divulging secret info to appreciate that, true or not, this cynical opinion could be a possible scenario.

[Acharn]

Needs to go to 40-USD

In your dreams. The dollar is already overvalued. All the screams from the conservatives about hyperinflation and "debasing the currency" have failed for seven years now. One of the things making the recovery so slow is the large trade deficit not being offset by a large government spending deficit. That's $300 billion a year of demand going to other countries not the U.S. That's likely to change sometime. I forget whose "law" it is, but "Anything which cannot continue forever will not." I'm happy with the recent 1 baht rise in the dollar, I don't know what's behind it, but I think Thai importers will be putting pressure on the Bank of Thailand to get the dollar back down to 32+.

[Thunderbirds20]

I saw Prayut on TV tonight asking anyone for advice to help the Thai economy, especially rubber and palm oil producers, ....such an easy answer, ...devalue the over inflated Thai Baht and start selling more overseas!

[Thunderbirds20]

I saw Prayut on TV tonight asking if anyone had ideas of how to help the Thai economy, especially rubber and palm oil producers. ..... easy, .. devalue the already over inflated Thai Baht and watch exports increase

[ggt]

This is not by accident...the BKK Bankers have been sounding the alarm that the baht was overvalued and hurting the country's export business...

[Lukecan]

My Pattaya TGF (our third year together) is following the unexpected present Euro rise against the THB very closely.

A month ago I promised to buy her a Toyota Yaris Sportivo (629k) as soon as the Euro would get to 40 ...

Anyway, I need to make a Euro transfer very soon for living expenses so I'm quite happy with 37.5 and above after the depressing previous 35 or so.

Dude 629k is like 250 soapies, have you lost your mind.

[Farang99]

Needs to go to 40-USD

I remember the days of 75 to the pound, not much chance of seeing that again. We had 55 last year so maybe 60 is not out of the question.

The dollar is a different story altogether. The Yuan may very well send it the other way.

£ up to 51.86 and been on a steady rise for a week, Fingers crossed it may continue, though it will never reach the heights we had after the 1997 crash!

[richthai]

Use this page for what is typically the best exchange rate you can receive in Thailand for average customers. These aren't bank rates. Siam exchange is very close to MBK and provides these rates for cash. Banks are always worse, especially on international wire transfers. They've got you, and they take advantage by providing a less competitive exchange rate.

http://www.siamexchange.co.th/index.php

[sandyf]

It will peak at 35 = 1 USD

But should the EU and/or the USA take economic sanctions against Thailand, expect 40 = 1 USD

I think that you are dreaming. It is almost a racing certainty that the Yuan will become fully convertible before the IMF meeting in October. When that happens, many countries are likely to add it to their foreign reserves, the dollar being the predominant reserve currency is going to take the biggest knock.

[TheAppletons]

It will peak at 35 = 1 USD

But should the EU and/or the USA take economic sanctions against Thailand, expect 40 = 1 USD

I think that you are dreaming. It is almost a racing certainty that the Yuan will become fully convertible before the IMF meeting in October. When that happens, many countries are likely to add it to their foreign reserves, the dollar being the predominant reserve currency is going to take the biggest knock.

Interesting opinion. It was predicted in 2011 that it would be convertible in 2014, in 2013 it was predicted to occur "within months" by Forbes, and last year it was forecast to be fully convertible by 2017. Target date seems to keep moving to the right.

Is there some new information that leads you to believe the time has finally arrived?

[thejcb]

Needs to go to 40-USD

I remember the days of 75 to the pound, not much chance of seeing that again. We had 55 last year so maybe 60 is not out of the question.

The dollar is a different story altogether. The Yuan may very well send it the other way.

So what ? I was here when it was 36 to £ and when it was 92 to £ So What again ??? Why do you newbies always harp on about the 75 days and 'expertly' claim (with no knowledge or justification to support such scribble) that it will never climb back..... Edited May 9, 2015 by thejcb

[harryfrompattaya]

Let us hope inflation in Thailand doesn't increase faster than the Baht getting weaker to the dollar or pound.

Edited May 9, 2015 by harryfrompattaya

[smedly]

Needs to go to 40-USD

I remember the days of 75 to the pound, not much chance of seeing that again. We had 55 last year so maybe 60 is not out of the question.

The dollar is a different story altogether. The Yuan may very well send it the other way.

£ up to 51.86 and been on a steady rise for a week, Fingers crossed it may continue, though it will never reach the heights we had after the 1997 crash!

I'd expect to see sterling at 54-55 this month but I don't expect it to go much higher based on anything the baht is doing, it may go further based on sterling but I doubt it, I am waiting to pull the trigger on a GBP to Baht transfer of about 1 million baht my target price will be 53 or if trending strongly will give it a few more days but will definitely pull the trigger at 54 no mater what, there is no way to know for sure with these things, we shall see next week, grexit could throw a big spanner in the works although a weird thing is that a greek exit might actually stabilise the Euro - markets don't like uncertainties - a default would be worse creating more uncertainty

[sandyf]

It will peak at 35 = 1 USD

But should the EU and/or the USA take economic sanctions against Thailand, expect 40 = 1 USD

I think that you are dreaming. It is almost a racing certainty that the Yuan will become fully convertible before the IMF meeting in October. When that happens, many countries are likely to add it to their foreign reserves, the dollar being the predominant reserve currency is going to take the biggest knock.

Interesting opinion. It was predicted in 2011 that it would be convertible in 2014, in 2013 it was predicted to occur "within months" by Forbes, and last year it was forecast to be fully convertible by 2017. Target date seems to keep moving to the right.

Is there some new information that leads you to believe the time has finally arrived?

Quite right about them moving the goal posts but this year they may actually kick the ball.

The Chinese have requested that the Yuan be included in the SDR composition. The SDR is on a 5 year cycle which ends in Dec. The new composition will be voted on in Oct. Before the Yuan can be considered for inclusion it must become fully convertible. Christine Lagarde pointed out at the spring meetings that the SDR vote is a 70% requirement and outside the US veto.

There is also some possibility of gold being included in the new composition, which could be another blow to the dollar.

[masuk]

I posted another post yesterday...... but again my dollar pension finally cleared to my Bangkok Bank account on the 7th of May

Delayed from the 4th of May due to Holidays.

Actual dollar to Baht rate according to my calculations was 32.6633 Baht per dollar.

Happened to me a couple of months ago. I made a BIG mistake in having Baht sent up, and should have left it in OZ$.

Took a weekend and three working days to eventually get my pension. The exchange rate was very much in BKK Bank's favour, but it seems their rate is always the worst.

[lovetotravel]

Sure am glad I didn't listen to all the doom and gloom posters saying the dollar was on it's way out back in 2008-2010. Made a ton of money since then in the market. And now the dollar is strengthening nicely.

Like the previous poster mentioned, when rates pop up a bit in the US, the Baht will probably go down a bit more. The "hot" money will flow back.

The Yuan? Who knows what's really going on there.

[Jessi]

I posted another post yesterday...... but again my dollar pension finally cleared to my Bangkok Bank account on the 7th of May

Delayed from the 4th of May due to Holidays.

Actual dollar to Baht rate according to my calculations was 32.6633 Baht per dollar.

Happened to me a couple of months ago. I made a BIG mistake in having Baht sent up, and should have left it in OZ$.

Took a weekend and three working days to eventually get my pension. The exchange rate was very much in BKK Bank's favour, but it seems their rate is always the worst.

masuk, If you are transferring from Australia use this company. https://www.bahtsmart.com/

You can read all about them here: http://www.thaivisa.com/forum/topic/785484-bahtsmart-new-online-money-transfer-to-thailand/

I have just done another transfer with them and the service is great.

[smedly]

massive battle going on this am - looks like a major resistance point at 33.71 US and 51.97 to GBP, pressure from sterling could tip it over 52

[WhamBam]

Over 52 right now.

I'll have an extra beer tonight. Happy Hour all night too. Isn't life great?

[i claudius]

52.68 and going to rise according to some

[sandyf]

The Yuan? Who knows what's really going on there.

"China’s launch of its international payment system (CIPS) this year should end the monopoly that China’s yuan clearing banks enjoy, giving foreign banks a share of the mushrooming yuan clearing business."

"CIPS is expected to roll out as early as September or October and will replace a cumbersome patchwork of networks. Bank of China Hong Kong said it was still waiting for details of CIPS when asked by Reuters about the impact it would have on yuan clearing banks."

""CIPS will become a strong push for the yuan’s internationalisation as the unified platform will definitely create more interest in the currency," said Martin at BNP Paribas. CIPS will largely replace the role of the current officially appointed clearing banks, if US experience is any guide."

http://www.scmp.com/business/money/money-news/article/1752496/chinas-cips-payment-system-boost-yuan-use-hand-foreign

[euca]

massive battle going on this am - looks like a major resistance point at 33.71 US and 51.97 to GBP, pressure from sterling could tip it over 52

Interesting, that, Smedley. I just got Bt33.73 so I'm rather happee. Thing is, t'bank quoted less on their website & XE also quoted less. Would this be the BoT pushing a slackening of the Baht to ease the path of exports? Would anything cause the internal Bt rate to exceed the extl Bt rate? I don't know about such things nor do I understand your resistance points etc. I'd like your lights on it & I doubt I'm alone, there. Tks.

[cigar7]

US Federal Reserve Chair Janet Yellen announced today that US interest rates will rise some time this year.

[theguyfromanotherforum]

Most currencies are tanking again against the baht.

[Chivas]

Most currencies are tanking again against the baht.

Really !!

Its currently down at 33.79 to the Greenback and earlier was 33.87

[theguyfromanotherforum]

Oh.... An american with a printing machine replied. When does most currencies mean american dollar?