webfact Posted February 21, 2019 Share Posted February 21, 2019 Thai baht surges against weakening US dollar By The Thaiger The Thai baht is soaring to its highest level against the US dollar in more than half a decade. Analysts are expecting the Thai currency to continue marching past the 31 baht to the US dollar mark. Currency experts believe the baht’s strength could be partly due to the weakness of the US dollar as investors speculate on the current US-China trade talks hoping negotiators will reach some sort of deal soon. They also believe that the US Federal Reserve will keep rates steady for the rest of the year. Full story: https://thethaiger.com/news/business/thai-baht-surges-against-weakening-us-dollar -- © Copyright The Thaiger 2019-02-21 Link to comment Share on other sites More sharing options...
RotMahKid Posted February 21, 2019 Share Posted February 21, 2019 Thai Bath is not only soaring against the US dollar, but against almost all other valuta's in the world and it's going on and on. What do they want in future? Thai bath equal to the US dollar? That would be nice for the rich and generals in Thailand right? 555 Link to comment Share on other sites More sharing options...
JRG23 Posted February 21, 2019 Share Posted February 21, 2019 Surely this is unsustainable? Link to comment Share on other sites More sharing options...
OmarZaid Posted February 21, 2019 Share Posted February 21, 2019 somebody wants all wee folks to go home Link to comment Share on other sites More sharing options...
curtklay Posted February 21, 2019 Share Posted February 21, 2019 Yeah, great. Just when I need to transfer more money here to comply with the new immigration visa rules. Anyone else smell a conspiracy? Link to comment Share on other sites More sharing options...
55Jay Posted February 21, 2019 Share Posted February 21, 2019 Not a good time for new arrivals needing to bring in a lump sum to get set up here - house, car, etc. Similar scenario when we moved over end of 2012, wiring in money early 2013. Link to comment Share on other sites More sharing options...
Asawak Posted February 21, 2019 Share Posted February 21, 2019 41 minutes ago, curtklay said: Yeah, great. Just when I need to transfer more money here to comply with the new immigration visa rules. Anyone else smell a conspiracy? curtklay, if you believe that in the future there will be a better exchange rate then you have the possibility to open a foreigner currency account. Besides you should get a better exchange rate when you transfer "your" currency to THB bank intern at the time you decide to convert it. In my experiences for the last twelve years the THB 800000.- in a foreigner currency has been accepted by immigration. Good luck, hope that might help. Link to comment Share on other sites More sharing options...
elliss Posted February 21, 2019 Share Posted February 21, 2019 1 hour ago, JRG23 said: Surely this is unsustainable? Unstopable , Thailand now ex third world , may the junta regime continue , Link to comment Share on other sites More sharing options...
Joe Mcseismic Posted February 21, 2019 Share Posted February 21, 2019 36 minutes ago, curtklay said: Yeah, great. Just when I need to transfer more money here to comply with the new immigration visa rules. Anyone else smell a conspiracy? Nope. Just you..... Link to comment Share on other sites More sharing options...
BobbyL Posted February 21, 2019 Share Posted February 21, 2019 I hope it continues. We're going there again on holiday next year. Link to comment Share on other sites More sharing options...
Deez Posted February 21, 2019 Share Posted February 21, 2019 How is this good for an export economy? Link to comment Share on other sites More sharing options...
Joe Mcseismic Posted February 21, 2019 Share Posted February 21, 2019 28 minutes ago, Deez said: How is this good for an export economy? It's not, but what do you propose Thailand does about it? It's beyond their control. Link to comment Share on other sites More sharing options...
abrahamzvi Posted February 21, 2019 Share Posted February 21, 2019 30 minutes ago, Deez said: How is this good for an export economy? It is not, as it makes Thai exported good more expensive. It is also not good for tourism as it's getting more expensive. All one can say is wait and see how it develops. Link to comment Share on other sites More sharing options...
notasmartassknowitallfarag Posted February 21, 2019 Share Posted February 21, 2019 On the flipside, if you work here you could send money back to your home bank account. Link to comment Share on other sites More sharing options...
madmen Posted February 21, 2019 Share Posted February 21, 2019 Im getting ready to sell my Bangkok condo that I bought 12 years ago with a much stronger oz dollar. Will do nicely on exchange rate alone. Link to comment Share on other sites More sharing options...
Lemonltr Posted February 21, 2019 Share Posted February 21, 2019 17 minutes ago, Joe Mcseismic said: It's not, but what do you propose Thailand does about it? It's beyond their control. Equal tariffs in both directions would solve the trade surplus. Come on Trump and Europe, stand up for equality in trade deals. Link to comment Share on other sites More sharing options...
JaiLai Posted February 21, 2019 Share Posted February 21, 2019 1 hour ago, curtklay said: Yeah, great. Just when I need to transfer more money here to comply with the new immigration visa rules. Anyone else smell a conspiracy? The amounts that crusty old foreigners send to meet the new criteria is a mere drop in the ocean (maybe not even that much), the Ex rate is hardly manipulated for that......seriously?!!! Link to comment Share on other sites More sharing options...
Joe Mcseismic Posted February 21, 2019 Share Posted February 21, 2019 2 minutes ago, Lemonltr said: Equal tariffs in both directions would solve the trade surplus. Come on Trump and Europe, stand up for equality in trade deals. You don't seem to understand international trade. The USA has a bigger appetite for Thai goods than Thailand has for US goods. Nothing to do with tariffs. This is the same situation as the US trade deficit with China. Link to comment Share on other sites More sharing options...
CNX GUY Posted February 21, 2019 Share Posted February 21, 2019 57 minutes ago, Joe Mcseismic said: Nope. Just you..... Not Link to comment Share on other sites More sharing options...
brokenbone Posted February 21, 2019 Share Posted February 21, 2019 theres no compelling reason to stay here beside the fact i'm too crippled to move Link to comment Share on other sites More sharing options...
Pib Posted February 21, 2019 Share Posted February 21, 2019 Keep in mind the USD-THB has been as low as around 20 for many years....then went to 25 for many years...then around the 1997/98 Asian financial crisis the exchange rate shot up to 56 very briefly...then quickly came down to wound the 40 to 45 range for years and it been drifting down since. Below is a chart from 1960 to current day. Just hope we don't go back to the days of 20 baht per USD....but you can see by the right hand side of the chart we are in another long term downward trend....sure hope it bottoms out soon...but the l.....o.....n.....g term trend is not promising. Link to comment Share on other sites More sharing options...
Khunbilly Posted February 21, 2019 Share Posted February 21, 2019 Perfect timing for my trip to the U.S. in April! Link to comment Share on other sites More sharing options...
Kurtf Posted February 21, 2019 Share Posted February 21, 2019 I don't understand the uproar. It's been 31.2/$ for months. When I came here 7 years ago it was 29/$. back before that it was 40/$. It varies. It's been better and it's been worse. Get a grip. Link to comment Share on other sites More sharing options...
JMSIII Posted February 21, 2019 Share Posted February 21, 2019 21 minutes ago, Pib said: Keep in mind the USD-THB has been as low as around 20 for many years....then went to 25 for many years...then around the 1997/98 Asian financial crisis the exchange rate shot up to 56 very briefly...then quickly came down to wound the 40 to 45 range for years and it been drifting down since. Below is a chart from 1960 to current day. Just hope we don't go back to the days of 20 baht per USD....but you can see by the right hand side of the chart we are in another long term downward trend....sure hope it bottoms out soon...but the l.....o.....n.....g term trend is not promising. The 1997 Asian Financial Crisis was due to the dirty dealings of George Soros. He sold short the currencies of Thailand and Malaysia. Which by doing this he almost destroyed both economies. He did something similar in the UK. Soros is a Billionaire Hedge Fund Manager that has openly bragged about the power he has to destroy countries if wants to. I have heard him say he's very proud of what he did in Thailand and Malaysia. George Soros is also the largest donor by, for Barack Obama and Hillary Clinton. Literally the number one financier of both... You can also look up what he did to his fellow Jewish people in WWII. He was the snitch pointing out to the Nazi's were the Jewish families and people were hiding. Yes, at age 14, he sold out his own people for profit. He is a dirty POS! NOT a good guy. Link to comment Share on other sites More sharing options...
brain150 Posted February 21, 2019 Share Posted February 21, 2019 It's a Federal Reserve Note and not a US dollar !!! ... anybody who wants to talk about this should learn the difference first !!! The difference is probably the main cause for all the evil in the world !!! Link to comment Share on other sites More sharing options...
mosan Posted February 21, 2019 Share Posted February 21, 2019 53 minutes ago, madmen said: Im getting ready to sell my Bangkok condo that I bought 12 years ago with a much stronger oz dollar. Will do nicely on exchange rate alone. The key here will be "if you can sell it while the Baht is still strong"...it'll all come down to how you price it. Most people try to make a killing, but if you treat this as a break even proposition (meaning you were just renting), then you could possibly make out like a bandit... Link to comment Share on other sites More sharing options...
Lucius verus Posted February 21, 2019 Share Posted February 21, 2019 Australian AUD took a hit today thanks to some Chinese ports banning our exports. Oz dollar could be heading towards the dreaded 19 baht rate before years out. I wont be able to live here anymore and i won't be alone. Link to comment Share on other sites More sharing options...
whimsicalmike Posted February 21, 2019 Share Posted February 21, 2019 1 hour ago, Pib said: Keep in mind the USD-THB has been as low as around 20 for many years....then went to 25 for many years...then around the 1997/98 Asian financial crisis the exchange rate shot up to 56 very briefly...then quickly came down to wound the 40 to 45 range for years and it been drifting down since. Below is a chart from 1960 to current day. Just hope we don't go back to the days of 20 baht per USD....but you can see by the right hand side of the chart we are in another long term downward trend....sure hope it bottoms out soon...but the l.....o.....n.....g term trend is not promising. I The down trend ended last time it bounced back from 30 to again test 36. Now it seems to be in a sideways movement. it could continue down or turn up from the floor at 30. But isn't the baht controlled by the junta and isn't a market driven currency? If the Junta control it then the value will be what the junta want it to be for whatever thier reasons are. Link to comment Share on other sites More sharing options...
Pib Posted February 21, 2019 Share Posted February 21, 2019 If we just want to look at the last 10 years of USDTHB...Feb 09 to Feb 19 we are still well within the normal range of variation. Link to comment Share on other sites More sharing options...
Boss Posted February 21, 2019 Share Posted February 21, 2019 1 hour ago, whimsicalmike said: I The down trend ended last time it bounced back from 30 to again test 36. Now it seems to be in a sideways movement. it could continue down or turn up from the floor at 30. But isn't the baht controlled by the junta and isn't a market driven currency? If the Junta control it then the value will be what the junta want it to be for whatever thier reasons are. THB is tied to the USD.... Link to comment Share on other sites More sharing options...
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