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  1. #1
    The Dentist English Noodles's Avatar
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    The Baht is Falling

    Certainly against the Brittle Pound anyway. Up to 47.03 at the momwnt, hit 47.1 last night. Not bad considering it dropped as low as 43 only a few weeks ago. Let's see how it goes today.

  2. #2
    Being chased by sloths DJ Pat's Avatar
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    I'm not visiting until its at least up to 53 minimum

  3. #3
    Tonguin for a beer
    Bung's Avatar
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    It's good news. The US dollar is also up to 30.5 ish.

  4. #4
    The Dentist English Noodles's Avatar
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    ^Let's hope it continues, mate. What has suddenly caused it?

  5. #5
    I am in Jail

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    Would the rising costs in Thailand on daily items have caused it ?

  6. #6
    Thailand Expat raycarey's Avatar
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    Quote Originally Posted by English Noodles
    What has suddenly caused it?
    china's slowdown
    talk of tapering QE in america
    the ridiculous rice scheme
    moody's possibly downgrading thailand's credit rating

  7. #7
    Thailand Expat
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    Quote Originally Posted by raycarey View Post
    Quote Originally Posted by English Noodles
    What has suddenly caused it?
    china's slowdown
    talk of tapering QE in america
    the ridiculous rice scheme
    moody's possibly downgrading thailand's credit rating
    I would add- huge concerns over Thai exports and tourism.

  8. #8
    Thailand Expat
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    Quote Originally Posted by Fluke
    Would the rising costs in Thailand on daily items have caused it ?
    I think you might have a point there. It is annoying in the morning in 7/11 or the food stall trying to get breakfast with all the forex traders doing their market analysis.

    Balls to it - I want the pound at 40 Baht, tops.

  9. #9
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    Quote Originally Posted by pseudolus View Post
    Quote Originally Posted by Fluke
    Would the rising costs in Thailand on daily items have caused it ?
    I think you might have a point there. It is annoying in the morning in 7/11 or the food stall trying to get breakfast with all the forex traders doing their market analysis.

    Balls to it - I want the pound at 40 Baht, tops.
    I can go better than that, I can let you have some Baht for 39 Baht to the Pound.
    Be in the Subway restaurant at 11 am this morning.

  10. #10
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    Quote Originally Posted by Humbert View Post
    Quote Originally Posted by raycarey View Post
    Quote Originally Posted by English Noodles
    What has suddenly caused it?
    china's slowdown
    talk of tapering QE in america
    the ridiculous rice scheme
    moody's possibly downgrading thailand's credit rating
    I would add- huge concerns over Thai exports and tourism.
    Which were harmed by the strong Baht?

  11. #11
    Ex TD Fat Club VP Dillinger's Avatar
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    About time


    BANGKOK, June 5 (Xinhua) -- The Thai baht has fallen to the lowest level since the beginning of this year as foreign investors slash their money in local assets amid fears for further capital- control measures.
    The baht lingered around 30.55 per U.S. dollar early Wednesday while it touched 30.59 earlier, the weakest level since January 2, according to the Bangkok Post.
    Oversea investors have sold 605 million U.S. dollars more sovereign debt than they bought since the end of April and pulled 345 million from local stocks in the past two days, reports said.
    Last week, the Monetary Policy Committee of the Bank of Thailand (BOT) voted unanimously to reduce the policy rate by 25 basis points to 2.5 percent. Earlier, the central bank was under huge pressure to lower the rate in order to curb foreign capital inflow and stabilize the soaring baht, which the businesses said would damage this year' export and GDP.
    Meanwhile, BOT deputy governor Pongpen Ruengvirayudh said the U. S. application of minimized quantitative easing (QE) program, which has signaled a possible US economic revival and return of capital to dollar-trading markets, also contributed to the depreciation of baht.
    The Thai currency had maintained a strong upward trend since the beginning of this year. It touched 28.56 on April 22 and April 19, the strongest level since it was floated in July 1997. But some economists argued strong baht was a sign that the country's economy is on the right track and the government should not intervene.

  12. #12
    Thailand Expat
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    Quote Originally Posted by Fluke View Post
    Quote Originally Posted by Humbert View Post
    Quote Originally Posted by raycarey View Post
    Quote Originally Posted by English Noodles
    What has suddenly caused it?
    china's slowdown
    talk of tapering QE in america
    the ridiculous rice scheme
    moody's possibly downgrading thailand's credit rating
    I would add- huge concerns over Thai exports and tourism.
    Which were harmed by the strong Baht?

    Big time. Tourism accounts for only about 10% of GDP here. The rest is export-driven. The Govt and Central Bank has been under a lot of pressure to devalue the Baht for over a year now.

  13. #13
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    I am sure the bot cutting the rate by.25% was a major factor.

  14. #14
    Thailand Expat
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    ^ Exactly...and long overdue it would appear. The interest rate is still high but the added risk factor may be enough to curb the inflow. Many would like to see at least another 0.25% knocked off the interest rate.

  15. #15
    Member 2Prick's Avatar
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    Quote Originally Posted by Fluke View Post
    Would the rising costs in Thailand on daily items have caused it ?
    I was wondering that.

  16. #16
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    Quote Originally Posted by Fluke View Post
    Would the rising costs in Thailand on daily items have caused it ?
    It might be refection of sudden currency drops...

    Better yet, try making and spending Baht instead of the usual comparisons to foreign currencies and the overrated exchange rates.

    ....then you'll understand how items across the board have seen significent prices rises.

  17. #17
    Thailand Expat
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    Quote Originally Posted by Fluke
    Which were harmed by the strong Baht?
    Of course. Thai exports are down compared to last year. A high exchange rate makes exports more expensive. If the baht is expensive, tourists pay more for everything using converted currency. The Thai export association and tourism associations have been clamoring for a lower baht.

  18. #18
    I am in Jail
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    maybe the after effects of the flood ? corporations moving business elsewhere after they finish preparing for contingency plans ?

  19. #19
    Thailand Expat
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    Quote Originally Posted by yankee99
    I am sure the bot cutting the rate by.25% was a major factor.
    I think exactly that

    the Baht was getting too strong and that was causing problems

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