Fed pushes baht to 6-year high

[marcusarelus]

21 hours ago, oxysong said:

So by your reckoning (and of course Wiki,that you refer from ,all of the time),not the fact you do not know anything about anything,just a matter of  learning how to turn pages in Wiki,..but never mind,...you mention two currencies,but other currencies are sinking,how is this?  what does your page turning in Wiki say about that?

   The Baht is rising because of manipulation,Junta Prayut need a strong Baht, Thai population far from it, reason car/house loans are in orbit,but for how long?   get Wiki out  quick quick

 

"The Bank of Thailand is set to tighten foreign exchange monitoring to prevent short-term baht speculation after the local currency surged to its highest level in more than six years on Thursday.

The central bank will take a stricter approach in tracking transactions suspected of parking short-term money in the country for speculative purposes, said Vachira Arromdee, assistant governor overseeing financial markets operations.

Speculating in the baht for short-term gain is undesirable behaviour, Ms Vachira said.

The baht on Thursday rallied past the 31-mark to its strongest level against the US dollar in more than six years. Thailand's currency unit traded at 30.95, up from the previous day's 31.19.

The baht has emerged as the best-performing currency in Asia, gaining 4.8% year-to-date against the dollar. The Japanese yen is second with a 1.8% rise.

"If the baht continues to gain at a higher and faster pace than currencies of trade competitors, the trend does not seem to be in line with Thailand's economic fundamentals and this would deal a blow to the real sector and operators' adaptability, Ms Vachira said.

The private sector is advised to regularly hedge against foreign exchange fluctuation, she said, and it's a good time for borrowers to pay debts denominated in foreign currencies."

 

if this is not manipulation ,what is?   Wot does Wiki say to that?  and this is private manipulation,never mind private banking manipulation or even BoT manipulation,of course with junta helpings. Not the fact  exports are nosediving even as I type,its currency manipulation....come on Wiki   have a say  LOL

You need to differentiate between the baht being manipulated and other currencies tanking.  Brexit dumped the pound not the baht went up.  Aussie dollar has dropped against all currencies not just the baht.  If you are going to attack a link I use why not post the errors in a post that has used that link.  You are railing against wiki in a post where I did not use wiki.  Silly flame not factual claim.  You said I don't know anything.  My money is in a Thai bank in Thai baht.  Where is yours?

 

Currency manipulation is a country buying or selling or printing large amounts of it's own currency to normally lower it's value to make exports higher.  Is Thailand doing this?  

[morrobay]

10 hours ago, oxysong said:

Maybe ,maybe not ,but when Bank of Thailand puts its oar in with ominous warning,think its more than just a dire warning of what lies ahead....It was 1% annual growth of exports next year

Can you elaborate on the ominous warning by bank of Thailand?  Of course I hope all your posts here are correct, but would like to see more evidence of that. 

[Eric Loh]

3 hours ago, marcusarelus said:

Currency manipulation is a country buying or selling or printing large amounts of it's own currency to normally lower it's value to make exports higher.  Is Thailand doing this?  

Not say the US Treasury who published the twice a year report on currency manipulators. No countries were listed as manipulator and Thailand didn't even make it to the monitoring list. 

[oxysong]

5 hours ago, morrobay said:

Can you elaborate on the ominous warning by bank of Thailand?  Of course I hope all your posts here are correct, but would like to see more evidence of that. 

Post 107   highlighted

[oxysong]

5 hours ago, marcusarelus said:

You need to differentiate between the baht being manipulated and other currencies tanking.  Brexit dumped the pound not the baht went up.  Aussie dollar has dropped against all currencies not just the baht.  If you are going to attack a link I use why not post the errors in a post that has used that link.  You are railing against wiki in a post where I did not use wiki.  Silly flame not factual claim.  You said I don't know anything.  My money is in a Thai bank in Thai baht.  Where is yours?

 

Currency manipulation is a country buying or selling or printing large amounts of it's own currency to normally lower it's value to make exports higher.  Is Thailand doing this?  

does not have to buy,sell/print...about attracting large amounts of foreign currency by bond issuing,banks private individuals,even govts. Thailand ,or at least the military junta obv had no interest in exports,Id say military expenditure over-road anything else on its list,and that was for the last 3 years

 

Brexit did not dump the £,£ dumped itself some 10 or so years ago

[oxysong]

2 hours ago, Eric Loh said:

Not say the US Treasury who published the twice a year report on currency manipulators. No countries were listed as manipulator and Thailand didn't even make it to the monitoring list. 

Thailand said to be vetted for US currency manipulation

Vietnam, Indonesia and Malaysia also at risk...as of last month

[morrobay]

3 hours ago, oxysong said:

Post 107   highlighted

The takeaway there is that the bank of Thailand is advising borrowers to pay their debts that are denominated in foreign currencies soon. Obviously implying that the baht is going to be devalued. So can you elaborate on why the baht is heading that way? ????

[sitanonchai]

Gambia here I come, booked for November already. I used to come twice a year but fed up with rules, scams, road danger, overpriced baht etc.........+ 1000

[oxysong]

31 minutes ago, morrobay said:

The takeaway there is that the bank of Thailand is advising borrowers to pay their debts that are denominated in foreign currencies soon. Obviously implying that the baht is going to be devalued. So can you elaborate on why the baht is heading that way? ????

thought of that instantly,the country is flat broke.  Put this up before,when I see the giant advertising boards on major highways mostly all empty...when business is bad advertising is the first to go

 The US has long suspected Thailand is a currency manipulator,for years

[ocddave]

31 minutes ago, oxysong said:

thought of that instantly,the country is flat broke.  Put this up before,when I see the giant advertising boards on major highways mostly all empty...when business is bad advertising is the first to go

 The US has long suspected Thailand is a currency manipulator,for years

I think the US is not willing to label them just yet, mainly because they need the Military alliance in Southeast Asia, but that could change quickly if Thailand does a Turkey impression.

[morrobay]

1 hour ago, oxysong said:

 

 The US has long suspected Thailand is a currency manipulator,for years

The U.S. definition of currency manipulator only applies to a country keeping it's currency weak for export advantage. But with the baht so strong this does not apply. But the BOT now is implying that the currency is going to weaken. Care to sort this? 

[oxysong]

1 hour ago, morrobay said:

The U.S. definition of currency manipulator only applies to a country keeping it's currency weak for export advantage. But with the baht so strong this does not apply. But the BOT now is implying that the currency is going to weaken. Care to sort this? 

You are in Thailand,remember and under a junta govt.Could put a host of reckoning up,but Id get fed up after the first 50...but I would say Prayut was always pushing for strong country/military,even his hour long nightly fireside chats on television was just a load of <deleted>,even the tongue in cheek crack at the whole world speaking Thai,but was pushing for Thailand's spot in the sun,the shining star in the whole of Asia 

  Military spending Id say was the prime reason for a strong baht,section 44 did away with any opposition ,and those damned Chinese submarines,buy 2 ,get one free,with any amount of rockets required for free,not the fact any of them can submerge within a hundred miles or so off the coast,scraping the bottom as they chug out to sea

  Prayut will be highly sensitive at the possibility of the Thailand PLC accounts being put under scrutiny,military will hold that position in the cabinet

. The English language newspapers are getting a lot braver,comments of "violence will occur" etc etc,    Things ,especially for farang should improve in next few months (hopefully)

[Cryingdick]

On 6/23/2019 at 9:49 AM, HuskerDo said:

I'm quite sure Trump isn't concerned about the Americans who have "left" the US but rather the ones who decided to stay. Lower rates benefit those in the US (other than those relying on interest income). Why should he be more concerned with the "thousands" who have left the US instead of the "hundreds of millions" that still live there? Don't blame Trump. You could have moved more money to Thailand years ago and enjoyed the appreciation. Then again it's easier to run your life the way you want and blame others when things go sour. 

 

The poster says don't cry for him. Yet he does plenty of crying for himself. He has stocks and investments that have gone up because of the fed cutting rates yet whines and cries because his diamond shoes don't fit.

 

 

[Berkshire]

On 6/23/2019 at 8:49 PM, HuskerDo said:

I'm quite sure Trump isn't concerned about the Americans who have "left" the US but rather the ones who decided to stay. Lower rates benefit those in the US (other than those relying on interest income). Why should he be more concerned with the "thousands" who have left the US instead of the "hundreds of millions" that still live there? Don't blame Trump. You could have moved more money to Thailand years ago and enjoyed the appreciation. Then again it's easier to run your life the way you want and blame others when things go sour. 

Another brainwashed Trump minion.  Trump's policies are hurting Americans in America, don't you get that?  I could give you countless articles, but here's a couple of very recent ones....

 

[Trump’s trade wars thrust farmers into desperation loans]

https://www.politico.com/story/2019/06/24/trump-trade-farmers-loans-1547826

 

[Trump Promised a Manufacturing Renaissance. What Happens in 2020 in Places That Lost Those Jobs?]

https://www.msn.com/en-us/news/politics/trump-promised-a-manufacturing-renaissance-what-happens-in-2020-in-places-that-lost-those-jobs/ar-AADlX1c?ocid=wispr

 

 

[zydeco]

30.69 baht to the US dollar. Thanks, Trump, you miserable tub of lard.

[Thongkorn]

On 6/24/2019 at 10:09 AM, sitanonchai said:

Gambia here I come, booked for November already. I used to come twice a year but fed up with rules, scams, road danger, overpriced baht etc.........+ 1000

 One more less sex tourist, 

[bristolgeoff]

 The real-estate market in Hua Hin at least is bogged down in the mire......Think that goes Nationwide, Only 8/9 Years Ago Friends of Ours bought Land & Built a House HERE In Nong Khai,Total cost was close to 14 Million Baht, It's Now been up " For Sale " for 2 Years & The Latest " OFFER " They've had is 3.5 Million !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Better off keeping it than selling now.otherwise you will lose your shirt and the buyer will be laughing

Sent from my SM-T580 using Thailand Forum - Thaivisa mobile app

[bristolgeoff]

All currencies are going down it seems.i just wonder how long the thai baht will remain high before it crashes.it affects the tourist or farang who live there,their neighbours maybe getting new people soon if it continues


Sent from my SM-T580 using Thailand Forum - Thaivisa mobile app

[oxysong]

Its bond sales that Thailand hold 3% 10 year  or 10% 3 year bonds,..bonds keep replacing bonds,have to run to catch up. Last week the bank put  up debenture bonds,all sold out,someone buying its dept,think we know who the buyer was  china, up to its neck in debt to china   and the country is broke

   Want prayut out of the way, the numbskull is likened to a dead man walking,no much longer for Mr B ollockbrain to weigh anchor and shove off

[Cryingdick]

10 hours ago, zydeco said:

30.69 baht to the US dollar. Thanks, Trump, you miserable tub of lard.

 

Weak dollar is good for the USA. As I said earlier just think of it as relief for income disparity in Thailand.