Dustdevil Posted November 25, 2016 Share Posted November 25, 2016 The Malaysian ringgit is down more than 11% vs. the dollar; the Philippine peso down about 8.6%, not to mention the Swiss franc is now less than parity as of today; the Euro is at under $1.06 and experts say it will reach parity (athough of course predictions are so often wrong); need I go on? Why is the baht always around 35? Selfishly, I'd like to get some living-in-Thailand bargains! Link to comment Share on other sites More sharing options...
chiang mai Posted November 25, 2016 Share Posted November 25, 2016 THB is not always at 35, if you look at the near history you'll see that against USD, it trades in a range of 29 to 36 in recent times. BOT operates a managed float which means they intervene in the markets to smooth out any volatility in the exchange rate so as to protect export. Having said that BOT holds extremely large amounts of foreign currency reserves hence that, plus comparatively low levels of public debt etc etc means the baht remains naturally strong. Now queue the conspiracy theorists who will tell us the Bangkok elite are managing the exchange rate for their own self interests, when they do, ask they how they do and to provide proof. Link to comment Share on other sites More sharing options...
Cook my sock Posted November 25, 2016 Share Posted November 25, 2016 The country is considered stable ATM so the baht is strong. But Trump has def helped, it was up to 44 to the £ a few days back. Give it a couple of years, maybe Brexit won't happen and we'll be back to 55 Link to comment Share on other sites More sharing options...
Henryford Posted November 25, 2016 Share Posted November 25, 2016 When the USA's National Debt reaches 40 trillion and the annual deficit is 3 trillion watch the dollar crumble. Link to comment Share on other sites More sharing options...
trd Posted November 25, 2016 Share Posted November 25, 2016 The country is considered stable ATM so the baht is strong. But Trump has def helped, it was up to 44 to the £ a few days back. Give it a couple of years, maybe Brexit won't happen and we'll be back to 55That's more to do with the pound recovering slightly than the baht weakening. Link to comment Share on other sites More sharing options...
ezzra Posted November 25, 2016 Share Posted November 25, 2016 With the Feds rumored to jack up the interest rate in the coming month or so, coupled with wishy woshy Trump assent to the throne and China economy in the doldrums, the greenback is moving up and you will see the THB getting unseated form it's lofty perch.... Link to comment Share on other sites More sharing options...
Cook my sock Posted November 25, 2016 Share Posted November 25, 2016 Guess I was wrong. I assumed it was Trumps 'pull out' announcement, baht seemed to drop with that, like other Asian currencies. Link to comment Share on other sites More sharing options...
Cook my sock Posted November 25, 2016 Share Posted November 25, 2016 With the Feds rumored to jack up the interest rate in the coming month or so, coupled with wishy woshy Trump assent to the throne and China economy in the doldrums, the greenback is moving up and you will see the THB getting unseated form it's lofty perch....Fed rates affect sterling more, unfortunately (for me) Link to comment Share on other sites More sharing options...
Kwasaki Posted November 25, 2016 Share Posted November 25, 2016 2 hours ago, Cook my sock said: The country is considered stable ATM so the baht is strong. But Trump has def helped, it was up to 44 to the £ a few days back. Give it a couple of years, maybe Brexit won't happen and we'll be back to 55 Disagree my way of thinking was the £ was up to 44.4 now and is on the way up because of Brexit. Link to comment Share on other sites More sharing options...
BrainLife Posted November 25, 2016 Share Posted November 25, 2016 It is on Thai-time, you know they are always late Link to comment Share on other sites More sharing options...
helloagain Posted November 25, 2016 Share Posted November 25, 2016 5 hours ago, Cook my sock said: The country is considered stable ATM so the baht is strong. But Trump has def helped, it was up to 44 to the £ a few days back. Give it a couple of years, maybe Brexit won't happen and we'll be back to 55 I want back to 74.9 12 years ago Link to comment Share on other sites More sharing options...
KhunBENQ Posted November 25, 2016 Share Posted November 25, 2016 Wish it would not move! Against the diving Euro it moves up! Link to comment Share on other sites More sharing options...
elgordo38 Posted November 25, 2016 Share Posted November 25, 2016 6 hours ago, chiang mai said: plus comparatively low levels of public debt etc etc means the baht remains naturally strong. Love your statement when I watch one new car after another drive down the street. I guess all the articles in the news of high debt here in Thailand are pure fiction. Link to comment Share on other sites More sharing options...
elgordo38 Posted November 25, 2016 Share Posted November 25, 2016 4 hours ago, Henryford said: When the USA's National Debt reaches 40 trillion and the annual deficit is 3 trillion watch the dollar crumble. Hmm not so long as the world remains their piggy bank. Buy any commodity you must pay the US piper. Nothing moves at present unless you pay in US dollars. Guess I am just jealous my country is a much more stable progressive country yet we are taking a beating at the hands of the greenback. The change will come slowly but sadly I will not be around to see it. Link to comment Share on other sites More sharing options...
Naam Posted November 25, 2016 Share Posted November 25, 2016 2 minutes ago, elgordo38 said: Hmm not so long as the world remains their piggy bank. Buy any commodity you must pay the US piper. Nothing moves at present unless you pay in US dollars. Guess I am just jealous my country is a much more stable progressive country yet we are taking a beating at the hands of the greenback. The change will come slowly but sadly I will not be around to see it. you are thoroughly mistaken. just because some commodities are quoted in US-Dollars doesn't mean they can't be bought and paid for by any other freely fungible currency. but you are excused because this misleading fairy tale is floating around since decades. Link to comment Share on other sites More sharing options...
elgordo38 Posted November 25, 2016 Share Posted November 25, 2016 5 minutes ago, Naam said: you are thoroughly mistaken. just because some commodities are quoted in US-Dollars doesn't mean they can't be bought and paid for by any other freely fungible currency. but you are excused because this misleading fairy tale is floating around since decades. Thank you for the uplifting advice and I am hmm thoroughly mistaken really. It must be the Klingon coming out in you. Love the word fungible "money is fungible—money that is raised for one purpose can easily be used for another" Does that mean If I have beer money I can change my mind and spend it on a bar girl? Yes I am guilty I love fairy tales. May you live long and prosper brother may Allah bless you with many sharp tongued daughters. Link to comment Share on other sites More sharing options...
Naam Posted November 25, 2016 Share Posted November 25, 2016 Just now, elgordo38 said: "money is fungible—money that is raised for one purpose can easily be used for another" Does that mean If I have beer money I can change my mind and spend it on a bar girl? yes, you can. Link to comment Share on other sites More sharing options...
Cook my sock Posted November 25, 2016 Share Posted November 25, 2016 Disagree my way of thinking was the £ was up to 44.4 now and is on the way up because of Brexit. When did Brexit happen? Did I miss it?[emoji81][emoji81] Link to comment Share on other sites More sharing options...
chiang mai Posted November 25, 2016 Share Posted November 25, 2016 20 minutes ago, elgordo38 said: Love your statement when I watch one new car after another drive down the street. I guess all the articles in the news of high debt here in Thailand are pure fiction. You're referring to private (or consumer) debt, my statement relates to government or public debt, the strength or weakness of a country's economy doesn't depend of private debt very much at all. Link to comment Share on other sites More sharing options...
elgordo38 Posted November 25, 2016 Share Posted November 25, 2016 Just now, chiang mai said: You're referring to private (or consumer) debt, my statement relates to government or public debt, the strength or weakness of a country's economy doesn't depend of private debt very much at all. Really. Have you ever heard of consumer spending which can make or break countries. Link to comment Share on other sites More sharing options...
chiang mai Posted November 25, 2016 Share Posted November 25, 2016 1 minute ago, elgordo38 said: Really. Have you ever heard of consumer spending which can make or break countries. My statement referred solely to public debt. Yes, but Thailand is nowhere near that point! google bangkok post thailand consumer debt ratio and read the article there. Remind what the UK ratio is! Link to comment Share on other sites More sharing options...
hobobo Posted November 25, 2016 Share Posted November 25, 2016 52 minutes ago, helloagain said: I want back to 74.9 12 years ago Dream on! Next you'll insist on 94 to the Pound as it was briefly in the early 90s (maybe mid-90s, I forgot) Link to comment Share on other sites More sharing options...
monkey4u Posted November 25, 2016 Share Posted November 25, 2016 55 minutes ago, helloagain said: I want back to 74.9 12 years ago I want to go back to when I was 25 Alas none of these things will happen Link to comment Share on other sites More sharing options...
DSJPC Posted November 25, 2016 Share Posted November 25, 2016 the baht has fluctuated between 34.5 and 36.5 per US Dollar for past year or so...presently at 35.5...perhaps it is not moving in the direction u wish it would, but it does move!!! Link to comment Share on other sites More sharing options...
Kabula Posted November 25, 2016 Share Posted November 25, 2016 Because the European banker families who own the Central Banks and all of us want it that way! It will go up and down depending on their agenda. It's as simple as that! Link to comment Share on other sites More sharing options...
Bangkok Barry Posted November 25, 2016 Share Posted November 25, 2016 56 minutes ago, elgordo38 said: Love your statement when I watch one new car after another drive down the street. I guess all the articles in the news of high debt here in Thailand are pure fiction. Personal debt and public debt are two different things. Link to comment Share on other sites More sharing options...
Shiver Posted November 25, 2016 Share Posted November 25, 2016 I'd like to see the 'basket of currencies' weighting that the Baht is pegged to. I have thought for many years that it must be 80-90% USD. I don't think the USD is getting stronger, but all the peripheral currencies are taking the dive first and they revolve around the USD as the global currency, so may be the last one to go down the plug hole unless there are some break away actions from other countries. Link to comment Share on other sites More sharing options...
Suradit69 Posted November 25, 2016 Share Posted November 25, 2016 5 hours ago, ezzra said: With the Feds rumored to jack up the interest rate in the coming month or so, coupled with wishy woshy Trump assent to the throne and China economy in the doldrums, the greenback is moving up and you will see the THB getting unseated form it's lofty perch.... " With the Feds rumored to jack up the interest rate in the coming month or so, " Despite all the hoopla, it's the markets that set the rates. This past summer the 10 year was at about 1.3% and now it's at about 2.4%. That wasn't the Fed moving rates, that was the market and the dollar index rose along with it. Link to comment Share on other sites More sharing options...
bark Posted November 25, 2016 Share Posted November 25, 2016 1 hour ago, elgordo38 said: Hmm not so long as the world remains their piggy bank. Buy any commodity you must pay the US piper. Nothing moves at present unless you pay in US dollars. Guess I am just jealous my country is a much more stable progressive country yet we are taking a beating at the hands of the greenback. The change will come slowly but sadly I will not be around to see it. What type of flowers do you like ? Link to comment Share on other sites More sharing options...
emilymat Posted November 25, 2016 Share Posted November 25, 2016 59 minutes ago, hobobo said: Dream on! Next you'll insist on 94 to the Pound as it was briefly in the early 90s (maybe mid-90s, I forgot) 98 I think Link to comment Share on other sites More sharing options...
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