Baht Nearing 34 To The Dollar Level

[topfield]

3 am Thai time : baht at new high of 35.20

[loytoy]

Anyone know the reason why?

[Boon Mee]

Anyone know the reason why?

Yeah, the USD is sinking thru its as*hole...

[LaoPo]

Moneytraders speculating with the Thai Baht:

http://www.thaivisa.com/forum/index.php?sh...98004&st=15

US$-Thai Baht

http://newsvote.bbc.co.uk/2/shared/fds/hi/...78/intraday.stm

GBP-Thai Baht

http://newsvote.bbc.co.uk/2/shared/fds/hi/...78/intraday.stm

EURO-Thai Baht

http://newsvote.bbc.co.uk/2/shared/fds/hi/...78/intraday.stm

LaoPo

[old wanderer]

For me at least this is really scarry.....I have a major payment of 2 million baht due in April. All my holding are in USA dollars....I go into this deal when the baht was 10% higher than now....a 10% devaluation of my money is bad, but 20% is really ugly. I have my final payment due in July.

Anybody have a crystal ball?????

[britmaveric]

No worries bht will weaken.

[bangkapiboy]

Look on the bright side... is there one?

[LaoPo]

For me at least this is really scarry.....I have a major payment of 2 million baht due in April. All my holding are in USA dollars....I go into this deal when the baht was 10% higher than now....a 10% devaluation of my money is bad, but 20% is really ugly. I have my final payment due in July.

Anybody have a crystal ball?????

Why didn't/don't you insure your US$ against fluctuations ? Phone your bank or insurance company. It's done all over the world by im-/exporters since international trade is mostly done in US$'s (except by private people in the US...since there is no need for it; but in your case it is).

LP

Edited December 29, 2006 by LaoPo

[Naam]

"Why didn't/don't you insure your US$ against fluctuations ? Phone your bank or insurance company."

*****

to the best of my knowledge there is no insurance company which insures against currency fluctuations.

unfortunately most of the 'worrying parties' here have never heard that one can buy Baht outright or forward against any major currency. simple examples:

a) outright: you buy Baht you need at the time of your choice and at prevailing rate, keep the Baht offshore in a fixed deposit account and transfer when you need it.

forward: you buy Baht to be delivered at any date you specify. if interest rates of the currency you use buying Baht are lower than those of THB rates you gain the difference minus conversion cost and bank fees. if interest rates (see above) are higher you pay a premium plus cost.

addendum: i don't understand why anybody would transfer foreign currency to Thailand and be at the mercy of the thai bank as far as conversion is concerned. why not buying Baht AND TRANSFERRING Baht? i am two years in Thailand and have always transferred THB for land, building a home, buying cars and living expenses. as i knew what money i would need i bought nearly 80% of the required amount in advance thus saving a bundle.

[Naam]

nice volatility! unfortunately unable to post a graph.

http://isht.comdirect.de/html/detail/main....0&range.y=0

[Naam]

nice volatility! unfortunately unable to post a graph.

[Guest RealEstateBroker]

where are you pulling that from ? nice !

[Naam]

where are you pulling that from ? nice !

it's a german online-bank which provides these services free of charge. there used to be an english version too but it was stopped about a year ago.

[pumpuiman]

So is the baht getting stronger....or the dolllar getting weaker?

[cclub75]

nice volatility! unfortunately unable to post a graph.

Indeed. Doctor Tarisa must be in front of her keyboard, typing like a singer under ya ba influence.

She's going to burn all the cash reserve of Thailand.

35.20 then 35.55 then 35.35 etc.

Edited December 29, 2006 by cclub75

[britmaveric]

Back over 36, lets hope it continues upward.

[LaoPo]

Back over 36, lets hope it continues upward.

Well, it's jumping up and down:

http://newsvote.bbc.co.uk/2/shared/fds/hi/...78/intraday.stm

LP

[Meerkat]

Thin, thin markets at this time of year, and thus very whippy. Don't expect to really see the picture until the second week of the new year when everyone's back at their desk.

Personally I reckon the BOT's been in the market since the controls were announced/partially rescinded/reaffirmed. If the market reckons the baht should be stronger (or rather that the USD should continue to weaken), it'll be fun watching how the BOT goes about everything going forward. Images of Khun Tarisa stomping her feet..."Bloody foreigners"...come to mind.

[bruce3404]

Here's a link to another graph indicating real time baht trading:

www.forexdirectory.net/thb.html

[endure]

addendum: i don't understand why anybody would transfer foreign currency to Thailand and be at the mercy of the thai bank as far as conversion is concerned. why not buying Baht AND TRANSFERRING Baht?

If you transfer baht from the Uk to Thailand using a UK bank the rate you get is anything up tp 10% worse than the rate you get if you transfer sterling and have it converted at the Thai end.

[Naam]

addendum: i don't understand why anybody would transfer foreign currency to Thailand and be at the mercy of the thai bank as far as conversion is concerned. why not buying Baht AND TRANSFERRING Baht?

If you transfer baht from the Uk to Thailand using a UK bank the rate you get is anything up tp 10% worse than the rate you get if you transfer sterling and have it converted at the Thai end.

seems to be a real sh*tty² bank

[LivinLOS]

Seems to be the norm with UK banks (OK 10% is too high but I get crappy rates even if I call and pre reserve a fixed rate for the transaction)) i get consistantly better rates when simply sending EUR to thai accounts.