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  1. #1
    Thailand Expat
    William's Avatar
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    34 Baht to a Dollar?

    Baht rises fast in Asia




    (Agencies) - The baht rose quickly against the US dollar in Asian deals reported on Thursday.

    Compared to yesterday's New York session close of 34.20, the baht rose to 34.17 as of 4pm Thailand time, setting a multi-week high.

    Analysts said that if the dollar weakens further, then 34.025 can likely be the next target level.
    The US trade balance data for the month of August is expected later this evening Thailand time, a report that could affect the direction of the dollar.

  2. #2
    Thailand Expat

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    Quote Originally Posted by William
    Analysts said that if the dollar weakens further
    then Buadhai will have to consider suicide or worse, work....

  3. #3
    My kind of town
    chitown's Avatar
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    Upon reading this, I was thinking of jumping off the balcony of the secon floor of my house while yelling " I'm poorer" *

    But the fall would only break my legs, not kill me and then I would be poorer.



    * A Thai might hear this as "I'm power".


    Last edited by chitown; 11-10-2007 at 06:07 PM.

  4. #4
    Hifaluten Member
    Wayne Kerr's Avatar
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    I got about 34.15 today ... was 33 something recently. I was hoping things were starting to turn around .

  5. #5
    watterinja
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    This is really beginning to eat into the export margins.

  6. #6
    ding ding ding
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    Quote Originally Posted by William
    34.025 can likely be the next target level.
    When they speak of targets they should be hoping for weaker baht.

    The interest rate cut in USA in September cause the dollar to waeken and crash through the 80 point support level in this dollar strenght index:

    INO - U.S $ INDEX (NYBOTX) Price Chart and Quote

    Unfortunatley the markets are expecting another fed rate cut on the 18th October, if that happens the dollar with weaken further and 32 to the baht is possible.

    Thailand can shut up shop at that level

    Never mind, if you have dollars buy gold mining stocks asap!

  7. #7
    ding ding ding
    Spin's Avatar
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    Quote Originally Posted by watterinja
    This is really beginning to eat into the export margins.
    eaten up already, export contracts signed 12 months ago are being fulfilled at loss now.

    Thailand recently lost 20 billion baht on sugar cane export or something like that. Its fcuked but you dont hear anyone from the government here coming out and saying so. I fear the worst.

  8. #8
    Thailand Expat
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    as long as oil prices keep rising, the dollar will keep falling

  9. #9
    watterinja
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    ^^ (Spin) Why then, are exports growing year, on year? Or, at least according to official propaganda.

  10. #10
    ding ding ding
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    ^ One commentator noted that Thai quote dollar figures for export numbers, as the dollar falls that number gets bigger each year for the same for falling export numbers

  11. #11
    Thailand Expat
    William's Avatar
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    ^that's actually a very good point!

  12. #12
    watterinja
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    I wondered about that - I believe that you are right. So, basically, even if export $ rise, their net worth is reducing.

    I wonder if anyone has factored in the cost of the 'hollowing out' of Thai industry over the past 10 years, & lack of product updates. The folks I assist are still exporting dated models that are being progressively phased out. It has taken them 10 years to realise that someday soon, their golden goose will croak.

  13. #13
    ding ding ding
    Spin's Avatar
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    Quote Originally Posted by watterinja
    I believe that you are right
    Well I'm, not taking the credit for it! it was actaully xbusman over at TV who said that, he has a nice angle on the Thai economy and the effects of the exhange rate. I sometimes log in over there just to see what he posts on the topic

  14. #14
    Rhubarb, rhubarb, rhubarb
    Sir Burr's Avatar
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    Quote Originally Posted by DrAndy View Post
    as long as oil prices keep rising, the dollar will keep falling
    Actually, it's the other way around. If the dollar keeps falling against other currencies, oil and gold which are denominated in US dollars will go up.

  15. #15
    ding ding ding
    Spin's Avatar
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    ^ Gold at 752 u$d right now, near 28 year high.

  16. #16
    bkkandrew
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    Quote Originally Posted by Sir Burr View Post
    Quote Originally Posted by DrAndy View Post
    as long as oil prices keep rising, the dollar will keep falling
    Actually, it's the other way around. If the dollar keeps falling against other currencies, oil and gold which are denominated in US dollars will go up.
    Actually its the inverse. falling USD requires worldwide price of commodoties to rise relative to USD, yet remaining steadier against local currencies. The low USD is a large cause of high price of oil, steel, gold etc. etc. when expressed in USD...

  17. #17
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    everglaze's Avatar
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    I have just returned from a 5mo stay in the U.S.
    Upon returning I happened to bring an extra 10K USD just for play.

    Can someone please tell me in simple english ? Shuold I cash in now or
    wait-untill!!!!.

  18. #18
    Rhubarb, rhubarb, rhubarb
    Sir Burr's Avatar
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    Quote Originally Posted by bkkandrew View Post
    Quote Originally Posted by Sir Burr View Post
    Quote Originally Posted by DrAndy View Post
    as long as oil prices keep rising, the dollar will keep falling
    Actually, it's the other way around. If the dollar keeps falling against other currencies, oil and gold which are denominated in US dollars will go up.
    Actually its the inverse. falling USD requires worldwide price of commodoties to rise relative to USD, yet remaining steadier against local currencies. The low USD is a large cause of high price of oil, steel, gold etc. etc. when expressed in USD...
    Isn't that what I said?
    Phuket - Veni Vidi Veni

  19. #19
    or TizYou?
    TizMe's Avatar
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    I heard that the Federal Reserve is going to rename the US Dollar to the US Peso.

  20. #20
    Rhubarb, rhubarb, rhubarb
    Sir Burr's Avatar
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    I call it the US Lira. Unfortunately, I get paid in it.

  21. #21
    Thailand Expat
    aging one's Avatar
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    I dont get paid in it and like whats happening. Buying, it will strengthen as soon as Bush is gone. I hope.

  22. #22
    RIP
    blackgang's Avatar
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    I don't think it will just because Bush is gone, I think it will continue down for a time yet.

    Can someone please tell me in simple english ? Shuold I cash in now or
    wait-untill!!!!.
    I don't think that you will get much over 34=$1 and thats what it is now and I bet it drops some more before it gets better next year at soonest.
    Last edited by blackgang; 12-10-2007 at 09:43 PM.

  23. #23
    bkkandrew
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    Quote Originally Posted by Sir Burr View Post
    Quote Originally Posted by bkkandrew View Post
    Quote Originally Posted by Sir Burr View Post
    Quote Originally Posted by DrAndy View Post
    as long as oil prices keep rising, the dollar will keep falling
    Actually, it's the other way around. If the dollar keeps falling against other currencies, oil and gold which are denominated in US dollars will go up.
    Actually its the inverse. falling USD requires worldwide price of commodoties to rise relative to USD, yet remaining steadier against local currencies. The low USD is a large cause of high price of oil, steel, gold etc. etc. when expressed in USD...
    Isn't that what I said?
    Sort of.

    The difference is a straight expression of value being the driver of increasing commodity prices in USD terms. You are on the right track though.

    Watch the next couple of months though, as Citybank and Merrils et al report their utter incompetancy and financial shambles, taking the dollar down with their sorry incompetancy...

    End of year 07:

    USD - GBP - 2.45
    USD - EUR - 1.65
    USD - THB - 29.50

  24. #24
    Tax Consultant
    Thormaturge's Avatar
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    1.00 CAN-D

    =

    1.06980 USD




    LOL

    Parity with the Swiss Franc is next.

    1.00 USD

    =

    1.15300 CHF

  25. #25
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    donmeurett's Avatar
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    Quote Originally Posted by Spin View Post
    ^ Gold at 752 u$d right now, near 28 year high.
    I would call it a ALL TIME HIGH not a 28 year high. There is no time in history that it was higher than now.

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