Baht hits 6-year low after deadly Bangkok bombing

WELLINGTON (BLOOMBERG) - Thailand's baht drove further losses among Asian emerging-market currencies after a deadly bombing in Bangkok and a selloff in commodities. Oil maintained declines at a six-year low, while stocks in the region climbed for the first time in three days.

The baht slipped as much as 0.8 per cent to 35.648 per US dollar on Tuesday (Aug 18), its weakest intraday level since April 23, 2009. It was down 0.4 per cent to 35.523 by 10:59 am in Tokyo.

The baht also weakened against the Singapore currency, trading at 25.27 to the Singdollar at about 11:15am on Tuesday, down from Monday's close of 25.09.

The blast that killed at least 19 people in the Thai capital adds to pressure on the baht as China's shock devaluation of the yuan and the prospect of higher US interest rates spur a general retreat from emerging-market assets.

Full story: http://www.straitstimes.com/business/economy/baht-leads-more-declines-among-asian-currencies-afer-deadly-bangkok-bombing

-- THE STRAITS TIMES 2015-08-18

This is NOTHING....

I am from the future and the baht will hit a six HUNDRED year low in just a few centuries....

35 to 1 USD will soon be 7892 to 1 XXY (Oh wait, you guys don't know about this country.....yet).

Hi mr future man,

Do you know what the exchange rate will be next year.

I was going to transfer some money.

Or should I wait ?

Hi mr future man,

Do you know what the exchange rate will be next year.

I was going to transfer some money.

Or should I wait ?

If i were you then i would wait......

Crap reporting, the Baht was forecast to in that direction this week anyway!

Crap reporting, the Baht was forecast to in that direction this week anyway!

It lost about 20 satang between yesterday morning and this morning.

The prices of goods and services will continue to go up in Thailand with the currency problem.

These prices will never go down no matter how much the Baht is per dollar.

Have you checked the prices on your favorite goods lately and seen the increase.

Lotus small eggs 10 3 weeks ago 40 Baht 2 weeks ago 41 Baht, this week 43 Baht juts one example.

Cigarettes up 5 Baht a pack.

Xe 35.59

Nothing`s changed. A fall of very few cents to the strongest currencies is daily stuff.

But tourism is up, so all the reports of empty bars, empty restaurants and empty hotels are just a mistake. The drop in the baht is an anomoly. New figures from TAT, showing tourism continues to climb by unbelieveable amounts will surely strengthen the baht again next week right?

About time! I'm still hoping for 10-15 year lows. 40:1 against the $ sounds like music to my ears!

Though NOT at the expense of events such as this, of course...

Pretty sure to sterling it went to 55.7 two yrs ago. I changed 60k at 55.3

Has it gone beyond that?

As I mentioned in another forum a few days ago ....Short the Yuan and the Thai Baht currency wars have started and by war I mean anything goes as these greedy players will resort to anything they can to destabilize the Thai Baht and make a killing.

Pretty sure to sterling it went to 55.7 two yrs ago. I changed 60k at 55.3

Has it gone beyond that?

Yes, passed it today and also a 6 year GBP high. 55.89 right now.

nobody knows. if you trade currencies, you MIGHT, have a better idea, but you better be on an institutional desk with better information flow.

too hard to pick a low in the baht, and least resistance lower.....

fed will be hiking rates in the next year for sure, so figure out if the dollar priced in that move(s)......oh wait, that is a guess as well

fed minutes this week....we should get a good move in the next few days...

i do know what will happen, but you have to pay for my newsletter.....

Puukao, Put me down for a subscription, right now, regardless of the cost. I'd like to receive receive next year's issue, right away. I'm assuming your newsletter includes the winning lottery numbers?

Umm, no they will not be raising rates. There is a reason they have been at zero for 6 years and why they cannot raise them.

fed will be hiking rates in the next year for sure, so figure out if the dollar priced in that move(s)......oh wait, that is a guess as well

The prices of goods and services will continue to go up in Thailand with the currency problem.

These prices will never go down no matter how much the Baht is per dollar.

Have you checked the prices on your favorite goods lately and seen the increase.

Lotus small eggs 10 3 weeks ago 40 Baht 2 weeks ago 41 Baht, this week 43 Baht juts one example.

Cigarettes up 5 Baht a pack.

Well as we normally shop at the local market and not Lotus the prices are a little different.

Large eggs are 41 for 10 and less if you buy 30 to match your example.

Cigarettes haven't gone up for a couple of months now

At Kbank over the last 4 days the TT rates have gone like this for the GBP

BUYING RATE SELLING RATE DATE BANK NOTES TRAVELLERS' CHEQUES EXPORT SIGHT BILL TELEX TRANSFER TT&DRAFT T/CHEQUES BANK NOTES

19 August 2015 54.90189 55.16551 55.16551 55.32688 56.21813 56.52875

18 August 2015 54.51628 54.77990 54.77990 54.94063 55.82813 56.13875

17 August 2015 54.41769 54.68131 54.68131 54.84188 55.73063 56.04125

14 August 2015 54.09822 54.36184 54.36184 54.52188 55.40813 55.71875

and like this for the USD 50-100 bills

BUYING RATE SELLING RATE DATE BANK NOTES TRAVELLERS' CHEQUES EXPORT SIGHT BILL TELEX TRANSFER TT&DRAFT T/CHEQUES BANK NOTES

19 August 2015 35.17 35.35 35.35 35.45 35.75 35.86

18 August 2015 35.16 35.34 35.34 35.44 35.74 35.85

17 August 2015 34.92 35.10 35.10 35.20 35.50 35.61

14 August 2015 34.80 34.98 34.98 35.08 35.38 35.49

Edited to make it look tidy and readable

Is Kbank mid-range for rates, I know that is the one the Post always quotes.

Which are generally regarded as being the banks giving the best and worst rates, or are they constantly variable.

Is Kbank mid-range for rates, I know that is the one the Post always quotes.

Which are generally regarded as being the banks giving the best and worst rates, or are they constantly variable.

They all change on a daily basis.

Here is a link to 10 banks in Thailand.

You can easily change to the currency of choice.

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

Cheers for that Bill, KBank is my bank but have the feeling I could be doing better on TT rates.

But I am taking us off topic.

Cheers for that Bill, KBank is my bank but have the feeling I could be doing better on TT rates.

But I am taking us off topic.

It was 55.32688 at 09.30 this morning at the TT rates compared to 47.50438 on 14 April 2015.

Cheers for that Bill, KBank is my bank but have the feeling I could be doing better on TT rates.

But I am taking us off topic.

It was 55.32688 at 09.30 this morning at the TT rates compared to 47.50438 on 14 April 2015.

Phoned my UK bank to make the transfer, after the usual press this press that and then the security verification, I was kept waiting for over five minutes then told they could not take my call due to an emergency building evacuation. Never had that one before.