Time Traveller

So Naam, you can continue to bilindly beleive whatever the Chinese authorities say and think that they are going to let the RMB appreciate if you want too. But that would be a mistake

-i don't believe in anything what the Chinese are saying,

-neither do i make forecasts as far as CNY exchange rate is concerned,

-what i did was stating facts and delivering evidence that your statement

"...will never allow to appreciate"

is absolutely wrong. all bla-bla from your side and personal attacks can't

hide that you posted bullshit assumptions drawn out of thin air.

talking about muscle and brains?

Well its now obvious who the expert is on currencies is around here.

Some of ya all who might get by as a second rate economist should forget about trying to be a comedian and listen up to TT

"WASHINGTON: China’s recent move to improve its exchange rate formation system marked the country’s further step toward a market-oriented exchange rate system and the depreciation of the Chinese currency has been misinterpreted by some critics, experts said.

The People’s Bank of China (PBOC) on Tuesday announced the decision to improve its central parity system, which is the starting point for daily forex trading, to better reflect market development in the exchange rate between the Chinese yuan against the US dollar. Following the decision, the Chinese currency, RMB, fell sharply in value on the following days."

"The critics have misinterpreted China’s recent move by overlooking the fact that service sector has become the driver for growth and paying too much attention on the slowing industrial data, said Lardy, adding that the Chinese economic growth remains stable at 7 percent despite the slowing industrial data, and China ‘s growth model has changed with service sector now as the driver of the growth."

"Actually, China’s move has been welcomed by some international institutions. The International Monetary Fund (IMF) described in a recent statement that the Chinese central bank’s move as “a welcome step,” saying a more market-oriented exchange rate would facilitate the SDR (Special Drawing Rights) operation if the RMB was included in the basket."

it seems that the IMF is considering the inclusion of the Chineses currency (internationally known by the currency code CNY) in the SDR basket even though there is no free usage, neither presently nor (most probably) in the near future.

This from a FT news mailer yesterday -

IMF's renminbi doubts, Iron Maiden airlines and the fountain of youth

China has made progress on financial reform but the renminbi still lags behind rivals on key metrics that determine whether the fund will formally endorse the redback as a reserve currency , according to an IMF report.

The fund's executive board will make a final decision on the renminbi late this year as part of its regular five-yearly review of the currency composition of its special drawing rights, a global reserve asset comprising the dollar, euro, pound and yen. "Across a range of indicators, the renminbi is now exhibiting a significant degree of international use and trading. At the same time, the four freely usable currencies (already in the SDR) generally rank ahead of the renminbi," the IMF report said.

Eswar Prasad, former IMF country head for China, said the report signalled "that the decision about the renminbi's inclusion in the basket hinges on financial market development, further opening of the capital account, and greater exchange rate flexibility". In particular, it calls on China to increase foreign access to its onshore stock and bond markets, especially government bonds. (FT)

Would there be any need for the extension if yuan was not going to be included?

"The executive board, which represents the IMF’s 188 member nations, voted Aug. 11 to extend the composition of the fund’s Special Drawing Rights for nine months, the Washington-based fund said Wednesday in a statement. IMF staff in July had recommended the extension to minimize disruption if the board decides to add the yuan to the basket, which includes the U.S. dollar, euro, yen and British pound.

“While the board is currently expected to complete the review in November 2015, staff sees merit in agreeing now on a limited extension of the current valuation basket,” the IMF said in a separate report released Wednesday."

A new dollar, a new day. Come on the dollar!

A new dollar, a new day. Come on the dollar!

Exactly, keep on going.

35.81 and seems to be not sliding down at all...but rather...inching up.

Thank you China.

And thank you too ..Uncle Sam.

Bloomberg chart looks like somebody just lit a fire under the bht to usd rate. Straight up in 10 min.

Baht is in free fall this morning, but is heavily supported with interventions, probably from the Thai national bank.

You slide down not up.

Sometimes i slide up

Sometimes I sidle up.

Her debut album is a sly delight, another taste of the rare voice summoned on her early singles as the balmy tropical grooves sidle up beside your ears rather than swiping you off your feet.

RAINY MILO This Thing Of [...]; Album releases by The Mirror (London, England)

Take that, Strunk.

Baht is in free fall this morning, but is heavily supported with interventions, probably from the Thai national bank.

That would imply that the Thai central bank is for the moment throwing foreign currency down the drain.

Do I see 36 anyone anytime soon?

It was 36.09 last Friday.

Cheers

yes momentarily, not quick enough for people to benefit I suspect

yes momentarily, not quick enough for people to benefit I suspect

It's 36.11 now!

Cheers

It is only a guess but I say not more than 36 Baht to a dollar.

Mind you, I am living on a monthly.dollar pension

My last pension "cost of living" increase was 1 January 2015...so my pension in dollar amount has stayed the same since 1 Jan 2015.

The amount in the bank each month in Baht however has changed for 54,000 Baht in January's deposit to over 59,000 Baht in August 2015.

I'm waiting for September's pension deposit next week.....hoping to go past 60,000t Baht monthly for September's deposit.

I'm not complaining.

It's not a guess, at this very moment Happy Money is buying at 35.89

Cheers

It's not a guess, at this very moment Happy Money is buying at 35.89

Cheers

You're talking out of your behind.

It's not a guess, at this very moment Happy Money is buying at 35.89

Cheers

You're talking out of your behind.

What makes you say that? How has stating the rate be coming from my behind?

Pray, do enlighten me?

It's not a guess, at this very moment Happy Money is buying at 35.89

Cheers

You're talking out of your behind.

What makes you say that? How has stating the rate be coming from my behind?

Pray, do enlighten me?

The current mid market rate for banks is only 35.63Bht. Why would any bank buy at a higher rate as that?

It's not a guess, at this very moment Happy Money is buying at 35.89

Cheers

You're talking out of your behind.

What makes you say that? How has stating the rate be coming from my behind?

Pray, do enlighten me?

The current mid market rate for banks is only 35.63Bht. Why would any bank buy at a higher rate as that?

First of all, do you know Happy Money? It's not a bank, FYI.

Anyway, I'm not going to engage about how banks operate and etc. As I'm not knowledgeable in that area.

But what I do know is one simple fact, and that is the rate 'Happy Money' offered.

The mid market exchange rate is the rate that at which the currency is traded on international currency markets, and can be looked up on XE and other sites.

The rate you get at a bank or exchange service is always lower, otherwise they would lose

The mid market exchange rate is the rate that at which the currency is traded on international currency markets, and can be looked up on XE and other sites.

The rate you get at a bank or

exchange service is always lower, otherwise they would lose

Of course, it is...duh!

Attached is the rate from K-Bank, and I'm aware of XE as have it right on my mobile.

Though I'm not by any means a financial expert, but I'm not going to post an imaginary figure.

It's what Happy Money offered! I have gotten 35.50 and 35.65 respectively through them in the past week.

I simply based on K-Bank buying rate on my mobile and checked with them. It's always higher and if I'm happy with it, I'll convert.

Cheers

Currently Baht is at 35.76 at time of Post. Was 35.91 earlier when I checked. Xe.com is giving rogue figures at the moment though happens occasionally

Check again in a couple hours

Gone back to 35.89 again. Movements are too sharp think the figures are still rogue currently

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

Asian Currencies Record Biggest Monthly Decline in Three Years

Bloomberg 3 hours ago.

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

Asian Currencies Record Biggest Monthly Decline in Three Years

Bloomberg 3 hours ago.

It's not so much a Thai Baht story as it is the rest of Asia, THB down 2.3%.

http://www.bloomberg.com/news/articles/2015-08-31/asian-currencies-set-for-biggest-monthly-decline-in-three-years

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

Asian Currencies Record Biggest Monthly Decline in Three Years

Bloomberg 3 hours ago.

It's not so much a Thai Baht story as it is the rest of Asia, THB down 2.3%.

http://www.bloomberg.com/news/articles/2015-08-31/asian-currencies-set-for-biggest-monthly-decline-in-three-years

When you add the politics and bomb stories it gets into 36 for sure and 41 maybe.

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

I couldn't disagree more.......Completely the opposite in my opinion. The Bahts going nowhere but down and its doing it of its own accord with no real input from the Dollar.

I expect it to break through 36 this working work, hold and then continue its downward trend.

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

Asian Currencies Record Biggest Monthly Decline in Three Years

Bloomberg 3 hours ago.

It's not so much a Thai Baht story as it is the rest of Asia, THB down 2.3%.

http://www.bloomberg.com/news/articles/2015-08-31/asian-currencies-set-for-biggest-monthly-decline-in-three-years

When you add the politics and bomb stories it gets into 36 for sure and 41 maybe.

Politics and bombs have never had an impact on the value of THB, not even when there were tanks and snipers on the streets of Bangkok and we were on the verge of armed insurrection, not even a ripple .

In any currency pair there is 2 sides to the story.

Will the Thai economy continue to slide and push it to 37, or

has the fed got it wrong and the dollar slide back to where it came form.

The dollar is certainly in a more precarious position than the baht.

I couldn't disagree more.......Completely the opposite in my opinion. The Bahts going nowhere but down and its doing it of its own accord with no real input from the Dollar.

I expect it to break through 36 this working work, hold and then continue its downward trend.

You may well be right, if any of us could predict with any certainty we would not be here.

This time last year the dollar was around the 80 mark and within the space of a few months had shot up by 25 percent for no real justification. Stopping QE does not actually change anything so it points more to manipulation and speculation.

There is a lot to be said for the old sayings, what goes up must come down, everything is cyclic, etc, etc. Gold and oil have already felt the pinch, the dollar could well be next.

I couldn't disagree more.......Completely the opposite in my opinion. The Bahts going nowhere but down and its doing it of its own accord with no real input from the Dollar.

I expect it to break through 36 this working work, hold and then continue its downward trend.

You may well be right, if any of us could predict with any certainty we would not be here.

This time last year the dollar was around the 80 mark and within the space of a few months had shot up by 25 percent for no real justification. Stopping QE does not actually change anything so it points more to manipulation and speculation.

There is a lot to be said for the old sayings, what goes up must come down, everything is cyclic, etc, etc. Gold and oil have already felt the pinch, the dollar could well be next.

1. Your bias is showing.