Bank of England meeting 'key' to baht's value

By The Nation

 

The Bank of Ayudhya forecasts the baht will trade between Bt34.40 and Bt34.80 per dollar this week after closing at Bt34.68 last week, with the focus the Bank of England meeting this week.

 

Last week, foreign investors had net sales of Bt3.1 billion in the Stock Exchange of Thailand, and net bought Bt9.2 billion in the country’s bond market last week.

 

Source: http://www.nationmultimedia.com/news/business/EconomyAndTourism/30314602

 

-- © Copyright The Nation 2017-05-08

 

Don't understand a word of that, but please get us 60+ Baht to the quid again   . . . . or more if you like!

9 minutes ago, CelticBhoy said:

Don't understand a word of that, but please get us 60+ Baht to the quid again   . . . . or more if you like!

To get to those kind of levels again would require something catastrophic to happen in the Thai economy and it's difficult to see what that might be; the markets have priced in a huge win for May, so not much upside there but more likely some Brexit negotiation weakness once they get started, IE ok for the economy  in export terms but not great for those wanting to buy Baht, unfortunately.

22 minutes ago, CelticBhoy said:

Don't understand a word of that, but please get us 60+ Baht to the quid again   . . . . or more if you like!

The article is very short on explanation, I agree.

 

I think the forecast is saying that

1. the baht's value is largely determined by inflows and outflows

2. that these inflows and outflows are largely investors seeking a return either on the Thai stock exchange or Thai government bonds.

3. that the Bank of England meeting is the most important global announcement / event this week which will effect the aforementioned cash flows around the globe.

 

So, the headline is misleading. The BoE meeting has no specific relevance to the Thai baht. It will however affect all currencies.

 

 

Has the Bank of England got a 'magic market wand'?

BoT  2.5% bond for 3 years...3% for 10 years

2 hours ago, CelticBhoy said:

Don't understand a word of that, but please get us 60+ Baht to the quid again   . . . . or more if you like!

Hard to believe it was back up to 55 last June, just ahead of the Brexit referendum. 

They could always lower lmport taxes and run a current account deficit for a change. But Exports good Imports bad rules - similar to Animal Farm.

Its all gobble de gook to me, just want to see the pound rise against the baht.

My pension is worth nothing at the moment.

Keep the £ weak for the foreseeable future, so less UK citzs go to the place I hope

Don't understand a word of that, but please get us 60+ Baht to the quid again   . . . . or more if you like!

Why not ask for a pony, while you're at it.

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14 hours ago, lamyai3 said:

Hard to believe it was back up to 55 last June, just ahead of the Brexit referendum. 

Think it only managed to get to just below 53.

 

55 was last attained in 2015.

 

 

Edited May 9, 20179 yr by 12DrinkMore

The Aussie ( and probably the Loonie) is doing even worse ( peak at a touch under 33 in 2012/13; today 25.48).

7 minutes ago, Prbkk said:

The Aussie ( and probably the Loonie) is doing even worse ( peak at a touch under 33 in 2012/13; today 25.48).

Did you have to bring that up. I woke up feeling good this morning and now you've unleashed the black dog.

Think it only managed to get to just below 53.
 
55 was last attained in 2015.
 
 

I last transferred at 55 last year just before the Brexit vote. That was my last transfer until I made a transfer at the end of last month. Check the rates that you will get on TransferWise app. Currently showing 44.91 but there is a transfer charge to be deducted.
Actual Baht amount that arrivesin your account I think its like w or 3 days max.
£1k = 44,582
£2k = 89,224
£10k = 446,326


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18 hours ago, teddog said:

BoT  2.5% bond for 3 years...3% for 10 years

3% for 10 years I will expire before the maturity date. 10 years could be a lifetime in today's financial markets. 

21 hours ago, CelticBhoy said:

Don't understand a word of that, but please get us 60+ Baht to the quid again   . . . . or more if you like!

Why stop at 60 I remember it well over 70 and I could use my Nationwide debit card without any charges... 

If foreign direct investment (FDI) - currently weak- shows any uptick, this could have a positive effect on the baht's value. Then again, it's hard to predict what's going to happen with the £ or $ with Trump and Brexit factors in play. These obviously will be affected accordingly. 

6 hours ago, rchapstick said:

 

Why not ask for a pony, while you're at it.

Sent from my SM-G935T using Tapatalk
 

 

I believe a pony is slang for £25

29 minutes ago, Godang said:

I believe a pony is slang for £25

In some parts of Australia a pony is a small beer ( 5 oz).

18 hours ago, wakeupplease said:

Keep the £ weak for the foreseeable future, so less UK citzs go to the place I hope

Have you got something against the Brits?

22 minutes ago, Prbkk said:

In some parts of Australia a pony is a small beer ( 5 oz).

In the real world a pony is a small horse !!!

1 hour ago, Godang said:

I believe a pony is slang for £25

I'm holding out for a monkey. 

6 hours ago, Prbkk said:

In some parts of Australia a pony is a small beer ( 5 oz).

In some parts of London it means Crap (as in toilet) ie rhyme slang "pony and trap" just to lower the tone a bit!

Why stop at 60 I remember it well over 70 and I could use my Nationwide debit card without any charges... 

I think it was 76 when i bought my condo

10 minutes ago, 8OA8 said:

I think it was 76 when i bought my condo

Same... 2006

 

and sold 5 years ago for basically same but at less than 40B/£

Can't remember the exact rate but araund that time I'd brought a load in at 80+ so everything was a bargain.

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On ‎08‎/‎05‎/‎2017 at 2:23 PM, wakeupplease said:

Keep the £ weak for the foreseeable future, so less UK citzs go to the place I hope

That means you are not here so good news

 

14 hours ago, 12DrinkMore said:

Think it only managed to get to just below 53.

 

55 was last attained in 2015.

 

 

That's about the maximum it went to and dropped significantly after the day of the Brexit vote

 

13 hours ago, 8OA8 said:

I last transferred at 55 last year just before the Brexit vote.
 

No you didn't

No you didn't

Oh yes I did!

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Oops and apologies, I've just realised I didn't. I must have transferred the cash the previous year in order to have had 55 fortunately it was enough to cover a couple of years expenditure, including some major purchases.