Thread: Thai Baht Rates .

will it ever end????

Canadian dollar holding steady.

For every pound Dil loses British pound will go up 1 pence

Strong baht hits foreign investment fund returns, TMB say

The strong baht has cut the value of the foreign investment fund (FIF) under fund management, falling by Bt27 billion from Bt1.2 trillion at the start of the year, TMB Bank said.

TMB said the drop reduced the fund’s return by 0.47 per cent. The least impacted funds are those covering oil investment, gold, and property funds, at 0.53 per cent, followed by a balanced fund.
Naris Sathaphondecha, the senior director of the TMB economic analysis centre (TMB Analytics), said that the baht’s appreciation not only affected the export market and tourism businesses but investors’ portfolios – especially the FIF. The currency has risen 5.8 per cent this year.
The Bt1.2 trillion earlier valuation for the existing FIF funds comprised Bt836 billion in fixed income, Bt243 billion in equities, and Bt30 billion in commodity and property funds.
“The baht’s appreciation widely affects every sector related to business. When investing in US dollars, inventors find returns have less value in baht. The strong baht affects the returns on funds as investors are concerned about the exchange rate. The investment markets have gone down, especially the stock market. Investors will soon know that they are losing profits because of exchange rate. ” he said.
However, the effect of baht appreciation is mostly felt on the fund that has low protection for currency risk, also known as a totally naked protection fund. These fund risk lower net asset values (NAV) or losses on investment. “The most affected fund since early this year has been a mixed fund on gold and oil investments. It received a lower return at 0.53 per cent. Also affected are the discretionary risk prevention groups and partial risk prevention groups, with fund returns dropping 0.44 per cent,” Naris said.


However, the debenture fund was largely unaffected by the appreciation because of risk prevention measures. The fund’s return dropped by 0.21 per cent.
“If you look closely, the return was reduced by Bt27 billion from the value of the fund. The stock dropped by Bt16 billion and the mixed fund fell about Bt6.8 billion. Why did the AUM (assets under management) fall dramatically? It depends on the AUM’s base investment. If there are large investments, the imports will be massive. Therefore, when investors hold investment units, they must consider the impact of a lower exchange rate affecting the returns and whether baht appreciation will occur in the future” Naris added.

Strong baht hits foreign investment fund returns, TMB say - Samui Times

So much for Boris being in charge the £1 is going down the Shitter

​" Dillinger " Down But Not Out " Dillinger "

CURRENCY	DENOMINATION	BUYING RATE	SELLING RATE
USA United States	100	30.85	30.88
50	30.85	30.88
10 - 20	30.70	30.78
5	30.60	30.78
1	30.25	30.58
GBPUnited Kingdom	50	38.50	38.70
20- 5	38.40	38.60
EUREuropean Union	500-100	34.30	34.45
50	34.25	34.40
20-5	34.20	34.40
CHFSwitzerland	1000 - 10	31.20	31.35
AUDAustralia	100 - 5	21.50	21.65

CADCanada

100 - 5

23.50

23.70

Amero going up up up!!!

Originally Posted by snakeeyes

Blimey I missed the launch, was just 38.35 on Monday, must be the Boris effect...!

We will tell our grandkids about the good days, when they were offering 38.22.

​" Dillinger " Down But Not Out " Dillinger "

CURRENCY	DENOMINATION	BUYING RATE	SELLING RATE
USDUnited States	100	30.80	30.85
50	30.80	30.85
10 - 20	30.65	30.75
5	30.55	30.75
1	30.20	30.55
GBPUnited Kingdom	50	38.30	38.50
20- 5	38.20	38.40
EUREuropean Union	500-100	34.25	34.35
50	34.20	34.30
20-5	34.15	34.30
CHFSwitzerland	1000 - 10	30.95	31.10
AUDAustralia	100 - 5	21.25	21.40

CADCanada

100 - 5

23.40

23.60

Shit = 37.8 Baht to the pound.

Originally Posted by Loy Toy

Shit = 37.8 Baht to the pound.

You wish! - two hours later now 37.40.

UK market going through the roof, which sounds good though the City's focussed on selling UK earners and buying overseas earners, clearly believing £ has more to fall.

Pound drops to lowest level in two years amid no-deal Brexit rhetoric

Sterling slips below $1.23 against US dollar and also falls sharply against the euro

The pound has slumped to a 28-month low as investors reacted with alarm to the escalation of no-deal rhetoric by Boris Johnson’s government.Sterling dropped below $1.23 against the US dollar and fell sharply against the euro to below €1.10 on the international currency markets on Monday, as cabinet ministers began meetings to prepare for a no-deal Brexit.
But while the pound suffered, there was confusion from Johnson’s government about whether a no-deal Brexit is the main working assumption. The prime minister himself insisted there was an “assumption that we can get a new deal” and that he wanted to reach out to European leaders.
However, his deputy official spokeswoman reinforced the position of Michael Gove, the cabinet lead for no-deal preparations, that “we must assume that there will be a no-deal Brexit on 31 October” unless EU leaders agree to reopen talks on the withdrawal agreement. The spokeswoman also made clear Johnson would not be meeting EU leaders until they agree to make a new deal that does not involve the Irish backstop.


As the pound lurched downwards on Monday, an array of leading business groups lined up to voice exasperation that a lack of information from the government was hampering preparations for no deal.
Echoing a warning from the Confederation of British Industry at the weekend Britain is ill-equipped for a disorderly EU departure, lobby groups representing firms employing millions of people across the UK sounded the alarm.
The Federation of Small Businesses (FSB) said the lack of preparedness among its members was “frightening”, while the British Chambers of Commerce (BCC) said industry’s questions about how to prepare had “gone unanswered”. The Institute of Directors (IoD) said guidance from government had been partial and was yet to be properly road tested.
The pound fell by more than 1.3% against the US currency to trade at about $1.2216, its lowest point since March 2017, extending a slide under way over recent months as the chance of the UK crashing out of the EU at the end of October mounts. The pound was down by a similar amount against the single currency at €1.0965.

On Monday the pound fell to its lowest point against the dollar since March 2017


Analysts said comments from senior figures in Johnson’s cabinet had rocked the City, including a suggestion from Dominic Raab on Monday morning that the UK would be in a better place to negotiate a good deal with the EU after no-deal Brexit.

The foreign secretary told BBC Radio 4’s Today programme that the EU’s “stubborn” behaviour would be responsible if the UK left without an agreement with Brussels at the end of October.
Petr Krpata of the City bank ING said: “The market [is] awaking to the reality of a new UK government, its rather combative stance on the current EU-UK Brexit deal, and its open remarks on the rising probability of a no-deal Brexit.

Joshua Mahony, senior market analyst at financial trading platform IG, said: “With two months until the October deadline, there is reason to believe that the pound has plenty more downside to come.”
Over the weekend, several key figures in Johnson’s government said the prime minister was “turbo-charging” preparations for no deal. Sajid Javid, the chancellor, is expected to ramp up spending on no-deal readiness by about £1bn this week and the government is preparing to spend around £100m on a public information campaign for citizens and businesses using broadcast media and billboards.

Hitting holidaymakers in the pocket as they head abroad during the school holidays, the pound has sunk by more than 10 cents against the dollar from a peak in excess of $1.33 in March. Against the euro it has fallen by more than 7 cents from a high of €1.17 recorded in May.
The BCC, which represents 75,000 businesses employing 6 million people, called on the government to up the ante on no-deal preparations.
“The 31 October deadline is fast approaching and businesses are being told to prepare for no deal, but there are still significant areas where there is simply little basis on which to plan,” said Claire Walker, co-executive director of the BCC.
“Business communities want the government to make every effort to avoid no deal, but at the same time, urgently need it to up the ante on its planning to enable firms to prepare for all scenarios.”
The FSB urged the government to “put its money where its mouth is” by handing £3,000 “Brexit vouchers” to small firms that trade overseas, to help them pay for advice on navigating custom and tariffs.
Edwin Morgan, interim director general of the IoD, also called for firms to be issued with Brexit vouchers and criticised the lack of detail from government

“We have long urged our members to make any preparations they can for no deal, but many smaller firms simply haven’t had the time or money to spend on getting ready for something that has not been, and still isn’t, government policy,” he said.
Make UK, the trade body for manufacturers, said many firms had already spent money preparing for the original Brexit date in March and might struggle to raise more cash.
“Warehousing costs have increased enormously and October is a time when capacity is already pre-booked by retailers for Christmas,” said Ben Fletcher, executive director of communications, government and policy.
“It’s going to be more expensive for businesses that struggled to prepare in the spring.”

https://www.theguardian.com/business...ng-dollar-euro


Read more

The foreign secretary told BBC Radio 4’s Today programme that the EU’s “stubborn” behaviour would be responsible if the UK left without an agreement with Brussels at the end of October.
Petr Krpata of the City bank ING said: “The market [is] awaking to the reality of a new UK government, its rather combative stance on the current EU-UK Brexit deal, and its open remarks on the rising probability of a no-deal Brexit.”
Joshua Mahony, senior market analyst at financial trading platform IG, said: “With two months until the October deadline, there is reason to believe that the pound has plenty more downside to come.”
Over the weekend, several key figures in Johnson’s government said the prime minister was “turbo-charging” preparations for no deal. Sajid Javid, the chancellor, is expected to ramp up spending on no-deal readiness by about £1bn this week and the government is preparing to spend around £100m on a public information campaign for citizens and businesses using broadcast media and billboards.