Everything seems OK no JUMPERS yet ,
Everything seems OK no JUMPERS yet ,
The Aussie dollar is actually doing worse against the THB than the GBP (since 19 September 2016):
AUD: -18.96%
GBP: -17.48%
EUR: -11.56%
USD - 11.41%
Does anyone know which group of Yermans Mr Sausages gets his free San Mig from, asking for a friend.
#butthurtbyTHB
Thai Baht Is Expected to Survive the Central Bank's Push to Restrain It
By Lilian Karunungan (Bloomberg) July 31, 2019, 5:00 AM GMT+7
- Baht among worst-performing EM currencies in Asia in July
- Krung Thai sees baht recovering to 30.25 by end of year
Thailand’s central bank knocked the baht from its perch, but the weakness could be short-lived, according to the currency’s top forecasters.
The Bank of Thailand took steps this month to curb short-term inflowsafter the currency surged to a six-year high. Those measures are hurting the baht, which is headed for a loss in July and is the worst-performing emerging-market currency in Asia after South Korea’s won.
While “the market will continue to worry about further measures against the baht’s strength,” the currency will probably recover over the medium term, said Qi Gao, a Singapore-based currency strategist at Scotiabank, the most-accurate forecaster for the currency in the second quarter based on Bloomberg rankings. Thailand’s solid economic fundamentals will help lure fund inflows amid a global easing cycle and negative interest rates, he said.
Rebound
The baht could drop more than 2% to 31.5 in the next couple of weeks before recovering to about 31 by the end of the year, according to Gao. The currency traded at 30.823 per dollar as of 3:56 pm in Bangkok on Tuesday.Below are the year-end estimates for the baht from the top three forecasters in the second quarter:
Forecasts Latest Previous Scotiabank 31 31.8 CIMB Bank Bhd 30.6 31.5 Krung Thai Bank Pcl 30.25 31
Moody’s Investors Service and Fitch Ratings boosted Thailand’s credit-ratings outlook to positive from stable this month, complicating the central bank’s efforts to restrain the currency. The baht is the top performer in emerging markets in the past 12 months, with a gain of about 8%. That strength is hurting exports and tourist arrivals, two pillars of the $505 billion economy.
Thailand has attracted $3 billion of overseas money this year into its stocks and bonds, compared with an outflow of about $60 million in 2018. The nation boasts a current-account surplus and substantial foreign reserves that rose to a record $218 billion this month.
Capital Controls?
While the central bank could unleash more measures to curb the currency’s gains, it will likely stop short of imposing capital controls after learning from a similar experience in 2006, said Jitipol Puksamatanan, chief strategist at Krung Thai Bank Pcl, the third most-accurate forecaster for the currency last quarter.
The baht should appreciate toward the year-end as rate cuts by the Federal Reserve will weaken the dollar, the Bangkok-based analyst said.
Declines in the baht are an opportunity to buy the currency, said Ray Choy, regional head of treasury and markets research in Kuala Lumpur at CIMB Bank, the second-most accurate forecaster.
“There has been much interest in the Thai baht given its fundamentals,” he said. “With the impending U.S. rate cut and following the baht’s correction, the baht is expected to appreciate. Hence, we see an opportunity in dollar/baht if it moves up.”
Majestically enthroned amid the vulgar herd
The £1 is Fookeeeeeeeeeeeeeeeeed
I like the smell of 33 in the morning for the EURO
is No. Uno repatriating funds from Germany and else where?
Brexit is on November 25 it will be 30 Baht to the £1 then ,
nope it'll be nearly £2 for a large chang, reason enough for anyone to leave Thighland, xmas is going to b expensive this year.
I predict an outbreak of minesweeping in Nana bars between 20th Dec 19 and 2nd Jan-20. I also predict some bloke with enormously fit lungs will create a chain of straws and leaning over the balcony in the plaza will get free drinkies from 9pm onwards on Dec 26th.
" Dillinger " Down But Not Out " Dillinger "
CURRENCY DENOMINATION BUYING RATE SELLING RATE USDUnited States
100
30.79
30.8350 30.79 30.83 10 - 20 30.64 30.73 5 30.54 30.73 1 30.19 30.53 GBPUnited Kingdom
50
37.45
37.8520- 5 37.35 37.75 EUREuropean Union
500-100
34.15
34.2550 34.10 34.20 20-5 34.05 34.20 CHFSwitzerland
1000 - 10
31.10
31.25AUDAustralia
100 - 5
21.00
21.15
CADCanada
100 - 5
23.35
23.50
I am not a liberator , Liberators do not exist , The people liberate themselves , Ernesto Che Guevara .
Read more:
we are being analized by the BoT
It's actually a bit perplexing why Thailands economy isnt suffering more with the strength of the baht or maybe it is and just not being reported.
...benchmark interest rate cut from %1.75 to %1.50 in an attempt to weaken the baht...the total effect remains to be seen, but the dollar went up from THB30.70 to THB30.81...
^ look above, and then back down to 30.61 this afternoon.
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