Bank of Thailand (BOT) receives foreign exchange warning

[Thian]

i absolutely 'hate' the 180 baht ATM charge. I think its disgusting.

(its dramatically HIGH, compared to thai living standards).

i know why they did it, and I fully disresopect them for their greedy decisions.

I don't know why they did it but i really feel scammed if i can get 10.000 baht and have to pay 180+90=270 baht for using atm. As far as i know only Thailand has that 180 baht foreigner charge.

So most Europeans won't go to Thailand at all, they got a bad reputation by this. I also won't use thai ATM anymore and do my big shoppings in Singapore because i feel more relaxed there.

[mommysboy]

A move from 31- 34 is more a fluctuation. In order to compete in exports with similar Asian countries it really needs a significant devaluation to around 40.

That's a pretty big fluctuation - >10%.....the real problem is not the baht level. It's stability. No exporter can operate efficiently if their input costs are changing so often.

The wider picture is an economy built on dwindling exports and weak domestic demand, high personal credit levels, an over valued stock market, and a government seemingly without a plan. The wider economic woes, particularly of China is obviously a big influence too. A key part of the problem is an overvalued baht.

And you think it's fluctuating input costs!

[elgordo38]

A lot of investors, whether they are big Boys or Small Fry, lose billions daily by shorting many different items. They make guesses, and hope it goes their way, but shorting does not mean they can force a win for themselves.

Take a look at how George Soros took on the Bank of England and the English pound and won. Shorts are now running the precious metals market which in truth is not physical metals ownership but paper certificates. Like fiat money they just turn on the presses. Governments and banks are really trying to push commodities down so that our attention is focused on the funny money they are printing. They do not want people to invest in precious metals. They are trying to kill the idea that gold is a currency.

Edited July 27, 2015 by elgordo38

[Thian]

A lot of investors, whether they are big Boys or Small Fry, lose billions daily by shorting many different items. They make guesses, and hope it goes their way, but shorting does not mean they can force a win for themselves.

Then you have no idea how the big boys work.

If they all go short on the baht then it will go down, no matter if what or when.

It happened to the euro, commodities and multinationals. Thailand has 50bn $ to play with, the hedgefunds together always have more.

My wife is short on the baht since it was 35 to the euro. Now it's 38 but she 'll wait untill 45 or more.

well shorting the baht is ok, but you are long the wrong currency. you should be long the $ and certainly not the Euro.

I will never go long on the us$, they are totally bankrupt.

Today the eur/baht went up more then 1%, now it is at a resistanceline and if that breaks we'll see the 41 soon.

http://nl.investing.com/currencies/eur-thb-chart

[easybullet3]

i absolutely 'hate' the 180 baht ATM charge. I think its disgusting.

(its dramatically HIGH, compared to thai living standards).

i know why they did it, and I fully disresopect them for their greedy decisions.

And most of us here disresopect you for being totally off topic and not being smart enough to find a credit card that reimburses you for the customary fee...

tell me more about this 'credit card' that will give me back the 180 baht cahrged by the Bank of Thailand from the ATMs in Thailand.

I would LOVE to know about it.

just name the bank and I will do the research.