Today
Today
If the pound reaches 60 will be happy.
Been a few hard years changing Pounds.
Hopefully happier times around the corner.
If I reach 60 I'll be happy too
Baht has biggest monthly drop since 2001
The baht dropped this month by the most in more than 14 years after the government cut forecasts for growth and exports, spurring outflows from Thai equities as the US prepares to raise interest rates.
The currency fell 4.2% to 35.245 baht a dollar as of 4.15pm, the sharpest monthly loss since March 2001, Bloomberg-compiled data show. It declined 0.5% on Friday and earlier reached 35.280, the lowest level since May 2009
The economy is slowing as Prime Minister Prayut Chan-o-cha fails to spur a revival and as planned investment in infrastructure falls short of target. While overseas investors sold a net US$856 million of stocks this month as of Wednesday, the most since May 2014, an index of sovereign bonds rose, suggesting demand for the relative safety of debt.
“The baht has fallen in line with a strong dollar,” said Tsutomu Soma, department manager of the fixed-income business unit at Rakuten Securities Inc. in Tokyo. “Thai political uncertainties are also weighing on investor confidence.”
The government is under increasing pressure to overhaul the cabinet and bolster the economy as waning consumer confidence and a slump in manufacturing portend one of the region’s slowest expansions, according to analysts.
The economy may grow 3 in 2015, the Finance Ministry said on Tuesday, down from an April estimate of 3.7%. Exports have contracted for six straight months and a central bank report Friday showed they fell 8.9% last month from a year earlier.
Overseas shipments may drop in 2015 by more than the Bank of Thailand’s 1.5% forecast, senior director Roong Mallikamas said on Friday.
A Bloomberg index of Thai sovereign bonds gained 0.9% in July, halting a two-month drop. The three-year yield declined 17 basis points from June 30 to 1.6% and the 10-year yield fell 13 basis points to 2.83%.
Baht has biggest monthly drop since 2001 | Bangkok Post: business
I am not a liberator , Liberators do not exist , The people liberate themselves , Ernesto Che Guevara .
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Yeeeeeeeee's it look good, would look great at 45/usd
If the £ reaches 60 i will ring the bell once again.
BOE announced they were holding interest rates steady today, folk were expecting them to make a raise. The disappointment might cause a drop in Sterling. Corbyn being elected leader of the Labour party in September should also push the pound down.
You must be joking ! If the Labour Party elect Corbyn they will never win an election and the continuity of a Conservative government will only serve to increase the value of the pound against other currencies.Originally Posted by Begbie
No more Labour governments is great news for the UK.
No they weren't. The governor has been saying for some time that a rate rise is likely in new year. One member out of nine voted for a rate rise.Originally Posted by Begbie
shoulda gone to Super rich Snakey
Currency Exchange Rate | Super Rich Thailand
I admire your optimism, but it's all about perception. An actual scocialist Labour making all the right noises, add in the US interest rate rise comming in September. Then the lead up to the EU referendum next year. The pound looks kind of risky.
Labour party are a non event. Dead in the water but good for a laugh. As much as they would like to think they have any effect at all on anything. they are irrelevant.
AUD is on the rise .
Feck i can't remember what happened 10 minutes ago.
Originally Posted by piwanoi
Ahh yes the good old days , the big untruth going round at the Time that Thai PM Chavalit Yongchaiyudh and his side kick Thaksin made an absolute financial killing in the currency markets knowing full well in advance what was coming and took advantage of it , of course Personally I did not believe a word of it cos Thai politicians especially those who are trusted to run the countrys economy as we all know the Country comes first and there financial gains come in a poor last
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