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  1. #3901
    Thailand Expat
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  2. #3902
    Thailand Expat
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    " Superrich "





    CURRENCY DENOMINATION BUYING RATE SELLING RATE
    USDUnited States



    100



    36.85



    36.90
    50 36.85 36.90
    20 - 10 36.75 36.80
    5 36.70 36.80
    1 36.50 36.60

    GBPUnited Kingdom





    50





    42.10





    42.40
    20- 5 42.00 42.30

    EUREuropean Union





    500-100





    36.75





    36.85
    50-5 36.70 36.85

    CHFSwitzerland





    1000 - 10





    38.00





    38.15

    AUDAustralia





    100 - 5





    24.60





    24.70
    The Best Currency Exchange Rates | Super Rich Thailand
    I am not a liberator , Liberators do not exist , The people liberate themselves , Ernesto Che Guevara .
    Read more:

  3. #3903
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    You can't tell me, that the Thai Baht is not being manipulated.

  4. #3904
    Thailand Expat tomcat's Avatar
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    Thai Officials Pile Pressure on Central Bank to Shield Baht


    • Acting premier wants baht back to 35 level: Thai newspaper
    • Central bank said Friday it’s ready to curb baht volatility


    By Suttinee Yuvejwattana (Bloomberg)

    September 21, 2022 at 8:18 AM GMT+7Updated onSeptember 21, 2022 at 10:47 AM GMT+7

    Thailand’s central bank and the finance ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signaling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation.

    The ministry and Bank of Thailand will discuss the baht’s weakness as the nation needs “to seek balance” in the currency, Finance Minister Arkhom Termpittayapaisith said late Tuesday. Arkhom’s comments came after Deputy Prime Minister Prawit Wongsuwan, who is also the acting prime minister, told the finance ministry to closely monitor the currency.

    Prawit asked Arkhom to discuss ways to bring baht back to 35 to a dollar as the plunging currency may trigger higher product prices and cost of living, the Thai-language Manager Online reported. However, the finance minister told reporters that the country couldn’t set a level for baht as it’s driven by market mechanism.

    Bank of Thailand spokeswoman Chayawadee Chai-Anant didn’t immediately respond to requests for comments on Wednesday.

    The central bank last week said it’s closely monitoring the baht and may take steps, adding that US dollar strength due to the Federal Reserve’s aggressive tightening is affecting neighbors too. Last week, policy makers in Asia pushed back to stem declines in their currencies, with South Korea ramping up its rhetoric and Japan said to be calling banks for an indicative price at which it can intervene.


    The baht’s plunge has rattled Thai policymakers with the net oil importer already struggling to contain the highest inflation in 14 years. While a weak local currency is seen as helping exports and tourism -- the bright spots in the economy -- sticky inflation is eroding purchasing power and hurting the poor.

    The baht fell as much as 0.4% to 37.116 to a dollar on Wednesday, the lowest since October 2006. It’s lost 1.4% in the past five days, the most among major Asian currencies.

    The slump in the currency couldn’t come at a worse time for the government, with the general elections set to be called early next year.

    The Bank of Thailand has adopted a hands-off stance toward the baht, insisting its role is limited to curbing extreme volatility. While it has raised the policy rate by 25 basis points, Governor Sethaput Suthiwartnarueput said last month that it will stick with its “gradual and measured” approach. Foreign currency reserves have dropped to $240 billion, including forward contracts, from $278 billion earlier this year, according to BOT.

    “The baht may weaken further in the short term along with other emerging market currencies if the Fed makes a big hike,” said Amonthep Chawla, head of research at CIMB Thai Bank Pcl. “This will put pressure on BOT to raise rate to prevent outflows. Still, we don’t expect BOT to adopt an aggressive rate hike path and they’ll likely raise rate by 25 basis points next week.”

    While the baht has lost about 10% against the dollar this year, foreign funds have plowed in a net $8.7 billion into the nation’s stocks and bonds, according to data compiled by Bloomberg. The inflows showed Thailand remains attractive to foreign investors, Arkhom said Tuesday.


    Majestically enthroned amid the vulgar herd

  5. #3905
    Thailand Expat misskit's Avatar
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    I keep hoping it holds out until my new car comes in!

  6. #3906
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Freed View Post
    You can't tell me, that the Thai Baht is not being manipulated.
    Pretty obvious who the culprit is, currently, and who will remain the culprit in the future.

    Quote Originally Posted by tomcat View Post
    the country couldn’t set a level for baht as it’s driven by market mechanism.
    Quote Originally Posted by tomcat View Post
    that US dollar strength due to the Federal Reserve’s aggressive tightening is affecting
    Quote Originally Posted by tomcat View Post
    The baht may weaken further in the short term along with other emerging market currencies if the Fed makes a big hike,”
    That's what NaGastan does.

  7. #3907
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    I was able to exchange a large amount of US dollars the other day and was pleased with the results.

  8. #3908
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    Quote Originally Posted by misskit View Post
    I keep hoping it holds out until my new car comes in!
    why?.

  9. #3909
    Thailand Expat tomcat's Avatar
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    Thailand Swears Central Bank Autonomy as Baht Extends Slump


    • Acting PM Prawit says he only wants talks with BOT on baht
    • Baht extends slide to lowest since 2006 after Fed rate hike



    Prawit WongsuwanPhotographer: Madaree Tohlala/AFP/Getty Images
    By Suttinee Yuvejwattana and Anuchit Nguyen (Bloomberg)

    September 22, 2022 at 12:22 PM GMT+7Updated on September 22, 2022 at 12:53 PM GMT+7

    Thailand’s acting prime minister, who earlier this week called for measures to halt the baht’s slide, said the government won’t meddle with the central bank and how it handles the currency.

    Prawit Wongsuwan, who is leading the government after a court last month suspended Prayuth Chan-Ocha, said on Thursday he directed Finance Minister Arkhom Termpittayapaisith to “only talk” to the Bank of Thailand about the baht’s recent slump.

    That’s a walk back from remarks on Tuesday when he said he wants the baht back at 35 to a dollar. Arkhom, a technocrat-turned minister, was more cautious in his comments, saying the government has a limited role in shielding the currency.

    Finance ministry officials, who are scheduled to soon meet with central bank executives, “will just show our concerns” about the impact of a steep baht weakening on the economy, Arkhom told reporters Wednesday, stressing that the central bank was in charge of the currency.


    The soft-pedaling exposes the policy conundrum in emerging markets such as Thailand which are struggling to sustain an economic recovery, amid the US dollar’s strength following the Federal Reserve’s resolve to lift interest rates further to fight inflation.

    The baht fell as much as 0.6% to 37.383 to a dollar on Thursday, the lowest since October 2006. It has weakened almost 11% this year, with the losses coming mostly since the start of the war in Ukraine.

    Bank of Thailand has repeatedly said it’s closely monitoring the baht and may take steps to curb excessive volatility, adding that dollar strength was hitting other currencies too. BOT is seen to raise rate by another 25 basis points when it meets next week, lifting the key rate to 1%.

    While the plunging baht may not have much impact on Thailand’s businesses due to their low foreign debt, the cost of funds will increase with interest rates going up, said Sarath Ratanavadi, chief executive of Gulf Energy Development Pcl.

    “The era of cheap borrowing costs will probably be gone for a long time,” said Sarath, who ranks as the second-richest Thai with a net worth to $12.4 billion. “We’ll have to prepare our business plan to deal time of high interest rates.”



  10. #3910
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    This is no time to let this thread die.

    We need a benchmark to look back on in 3-5 years because nothing last forever.

  11. #3911
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    I don’t think I’ve seen the dollar so high since around 2007 but at the time I thought it wasn’t so great as it had come down from around 40. It’s only taken 15 years to go back up.

    Thai Baht Rates .-42666b45-9a54-4505-ad86-de934ddb6a39-jpg

  12. #3912
    . Neverna's Avatar
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    Snakeeyes is MIA. I hope he's OK. In his absence ...


  13. #3913
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    ^ Wonderful.

    Thanks Nev...

  14. #3914
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  15. #3915
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    The yanks have a lot to answer for.
    Their use of upping the dollar is hurting other currencies.
    The Aussie $ is rock bottom.

  16. #3916
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  17. #3917
    CCBW Stumpy's Avatar
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    ^ Loving the rate. Keep going or at least hold through January. Right now the upside is play money.

  18. #3918
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    Quote Originally Posted by Freed View Post
    The yanks have a lot to answer for.
    Their use of upping the dollar is hurting other currencies.
    The Aussie $ is rock bottom.
    Hardly rock bottom, and great for exports. The flight to the safe haven of the $US will end soon. It is actually hurting the US economy. The US is not to blame for the current strength of the USD, that's fear in the global marketplace and a FED that is taking a hard line on interest rates and inflation making it attractive, they will soon lose their tough stance and start easing again (2023 early 2024)

    I think that the AUD will strengthen against the USD in 2023 substantially. Many reasons but the commodity based economy of Australia will be a major factor.

    Sterling is harder to predict, therefore I would avoid speculating on its trajectory, suffice to say it has no fundamental reasons to strengthen.

  19. #3919
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    Quote Originally Posted by Iceman123 View Post
    The US is not to blame for the current strength of the USD
    apart from raising interest rates

  20. #3920
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by malmomike77 View Post
    apart from raising interest rates
    Quote Originally Posted by Iceman123 View Post
    a FED that is taking a hard line on interest rates and inflation making it attractive,
    Possibly the FED's leader has dual citizenship.

  21. #3921
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    ^ + ^^

    I fully accept that I am not involved in intellectual discourse with financial experts, but FFS here is a tip - Clue - get one

  22. #3922
    . Neverna's Avatar
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  23. #3923
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Neverna View Post
    Snakeeyes is MIA. I hope he's OK
    Still no news?

    Thanks for stepping up.

  24. #3924
    Thailand Expat
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  25. #3925
    Thailand Expat
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    "Superrich"

    CURRENCY DENOMINATION BUYING RATE SELLING RATE
    USDUnited States




    100



    38.13



    38.18
    50 38.13 38.18
    20 - 10 38.03 38.08
    5 37.98 38.08
    1 37.78 37.88

    GBPUnited Kingdom






    50





    43.00





    43.20
    20- 5 42.90 43.10

    EUREuropean Union






    500-100





    37.40





    37.50
    50-5 37.35 37.50

    CHFSwitzerland






    1000 - 10





    38.10





    38.25

    AUDAustralia






    100 - 5





    23.95





    24.05
    The Best Currency Exchange Rates | Super Rich Thailand

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