Worries rise as baht scales six-year high

[JAG]

4 hours ago, Cadbury said:

Prayutnomics, it appears, is not working. Except perhaps that the 20 Year plan will ensure the rich will be richer and the poor will be poorer.

That is the best definition of this governments economic priorities yet seen...

[Spock]

3 minutes ago, strabel23 said:

The baht has been rising in value steadily following the Asian financial crisis in 1997 and should be no surprise. What is surprising is that during all these years I have heard so many times from foreigners living in Thailand that they would not deposit their money in a Thai bank making comments such as bannana republic, unsafe banking etc. Now they're all crying about how little they are getting for their currency echange to the Thai baht. If you couldn't/can't look at a simple graph and see this happening for all these years then I don't feel sorry for any of you. Of course those that are living/eisiting only from monthly  pension income are the real sufferers and are indeed in a pickle through no fault of their own.

Surely you contradict yourself. Shouldn't the pensioners according to you have been watching the baht climb on the graph for years and therefore undeserving of sympathy.

 

I have been sending money every two months to support a Thai in jail and his family of 4 outside. He has been in 7 years. Initially my dollars were fetching 35 baht, now I am lucky to clear 20 baht. The transfer is becoming a real imposition and it may not stop for another 6 years. Perhaps I too am somewhat to blame in your eyes for being a victim of circumstances and a force I cannot control. Unfortunately I never had the option to deposit a vast amount in a Thai bank nor the foresight to see that the Thai would climb as high as it has. Either way I still keep paying. It's called commitment.

[helloagain]

3 hours ago, Fallangpakwan said:

Australian cheese should be free., anyway the Tesco granola I have been buying has recently more than doubled in price.

Shop at fff

[manhood]

Prayut wont say anything as the market is in the hand of the richest and they profit from a strong bath. He won't cut the hand freding him. As simple as it can be and you can see the manipulation as imported goods not getting cheaper, no prised are raising!

[wilcopops]

3 hours ago, Jane Dough said:

The stores are fleecing us.

 

We need to rebel...get out the placards. "Vegemite Vendetta"  "Weetbix War" "HP till I die!"

Stand up and be counted!!

 

Rooster

My car cost me about 750 k (11,000 quid) and now I want to sell it and send some money back to UK; I've been offered 340.000 (about 10,000 quid), not bad for 8 years motoring

[fforest1]

2 hours ago, xylophone said:

The Mainland cheese from NZ has to be one of the best around, esp the Vintage one, or sometimes buy the Tasty for a change.

 

The imported goods should come down in price given the strong baht, and have seen some wines being re-priced.........just right to go with the cheese!

Maybe some of the higher end wines are a bit cheaper but the low-so boxed wine has not gotten any cheaper not one baht cheaper......

[bkk6060]

12 minutes ago, wilcopops said:

My car cost me about 750 k (11,000 quid) and now I want to sell it and send some money back to UK; I've been offered 340.000 (about 10,000 quid), not bad for 8 years motoring

Gteat.

You certainly seem to be a smart investor.

Got any good stock tips?

[sawadee1947]

4 hours ago, Cadbury said:

 

More gloom on the way.

"......Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl. The third most-accurate forecaster for the currency last quarter predicts the baht will rise to 30.25 per dollar by the end of the year".

Another kick in the teeth for exports and still PM Prayut says nothing, his silence is deafening which is a worry.

One would expect him to say something since he recently appointed himself to the Chairmanship of the Council of Economic Ministers. Surely that makes him the official spokesperson. One can only conclude he is unsure of himself and doesn't know what to say.

Prayutnomics, it appears, is not working. Except perhaps that the 20 Year plan will ensure the rich will be richer and the poor will be poorer.

https://fortune.com/2019/08/06/thai-baht-currency-war-trade/

Whatever he will say..... all nonsense. Same his brother Boris ????

[CH1961]

3 hours ago, zydeco said:

Australian cheese was on sale

They should pay you for eating cheese from Australia. 

[Oww]

1 hour ago, Cadbury said:

Makro, CP and Big C export something. They export their money to Vietnam to invest in a rapidly expanding economy.

They are not stupid, they know where the growth is and it's not in Thailand.

Yes, a depressing thought. Can't get away from them.

[MaxYakov]

3 hours ago, Fallangpakwan said:

Australian cheese should be free., anyway the Tesco granola I have been buying has recently more than doubled in price.

I found out this morning that Mac Donald's soft serve ice cream cone has more than doubled to 20 baht from its historic 9 baht price (while I wasn't looking I suppose). The cone is the only thing I buy there and this time I scoffed and walked out.

 

I'm minimally exchanging good money for baht from now on out. Not buying anything above the absolute minimum (or so I've resolved, anyway)

 

 

[Globe Trotter]

2 hours ago, isaanistical said:

But there are bargains to be had (Thai-style)! Yesterday in Big ????

from concentrate?? I'll pass thanks mate 

[Globe Trotter]

5 minutes ago, MaxYakov said:

I found out this morning that Mac Donald's soft serve ice cream cone has more than doubled to 20 baht from its historic 9 baht price (while I wasn't looking I suppose). The cone is the only thing I buy there and this time I scoffed and walked out.

 

I'm minimally exchanging good money for baht from now on out. Not buying anything above the absolute minimum (or so I've resolved, anyway)

 

 

You actually eat 'food' from Mac Donald's? oh boy 

[fabman5]

4 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

As an example it's about £4 for a box of decent cereal at the moment , The same box would only be around £1.50 in the UK. I can only think once the baht weakens is it going to be £7 or £8 ????

[Guderian]

4 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

I went to my favourite steak restaurant in Pattaya last week, Steak & Co, specialising in imported Australian steak. In spite of the sharp fall in the value of the AUD against the Baht, the price of a small fillet had gone up by around 100 Baht, or 15%. Is there a shortage of Australian steak or something that's causing prices to skyrocket? Or is it just blatant profiteering by somebody in the supply chain?

[hotchilli]

5 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

Personally speaking I didn't relocate to Thailand and expect to buy what I could get at home.... nor want to!

[SteveK]

The Baht has strengthened so much against the GBP and other foreign currencies, yet the prices in Makro for Colman's mustard, Lea and Perrins and imported half-decent beef have all gone up!

[Percy P]

5 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

Can't be reduced over night. You can always buy Thai made products similar to the imported item. 

[Lacessit]

 I'll have to tell my Thai GF soon the ATM is closed for repairs.

[ecoscape]

5 hours ago, Cadbury said:

 

More gloom on the way.

"......Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl. The third most-accurate forecaster for the currency last quarter predicts the baht will rise to 30.25 per dollar by the end of the year".

Another kick in the teeth for exports and still PM Prayut says nothing, his silence is deafening which is a worry.

One would expect him to say something since he recently appointed himself to the Chairmanship of the Council of Economic Ministers. Surely that makes him the official spokesperson. One can only conclude he is unsure of himself and doesn't know what to say.

Prayutnomics, it appears, is not working. Except perhaps that the 20 Year plan will ensure the rich will be richer and the poor will be poorer.

https://fortune.com/2019/08/06/thai-baht-currency-war-trade/

HMmm definitely has the Gove gene!

[Bluetongue]

Aussie beef might have gone up in price because the farmers are doing it tough mate, there's a huge long term drought you know, a lot of em would have destocked by now, I've been driving round the outback the last couple of years and it's bad.

 

I know the poms like to rubbish Australia, it certainly seems worse here on this forum, there's not that much wrong with Aussie cheese, but never seen any of the good stuff here. I would never rag English cheese based on buying it in a place like Thailand.

 

Lastly I recall well when the US dollar was 24/25 and at one stage the Aussie dollar was less than 14. Even so falling through the 20 benchmark which seems likely is a psychological barrier for me as well. A lot of currency speculation is basically gambling and Thai's love to gamble. Old mate above's theory about Thailand being a haven for wealthy Chinese to park their money, and perhaps themselves if things go pearshaped is probably behind some of it as well

[Neeranam]

For those of us earning baht, sending it home to parents,  going on holidays, there are NO worries.

The pound and dollar were worse in 1992 than now. Anyone who didn't move all the foreign currency when it hit 40+ 60+ can only blame themselves. 

[Baerboxer]

5 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

 

Opportunity to increase profits. 

 

If the baht crashes watch how quickly prices are increased.

 

These business are run to make profit. Anything else is less important.

[Neeranam]

29 minutes ago, SteveK said:

The Baht has strengthened so much against the GBP and other foreign currencies, yet the prices in Makro for Colman's mustard, Lea and Perrins and imported half-decent beef have all gone up!

They k now only rich whiteys buy it.

[isaanistical]

34 minutes ago, SteveK said:

The Baht has strengthened so much against the GBP and other foreign currencies, yet the prices in Makro for Colman's mustard, Lea and Perrins and imported half-decent beef have all gone up!

In factual terms you're right, although it's made carefully difficult to see where the extra margin goes – here are some numbers for Aussie beef as an example:

 

THB/AUD:

Sep 2014: 29.25

Sep 2019: 20.87

 

AU/NZ beef price (per kilo - MLA figures)

Sep 2014: AUD 6.58 (THB192.46)

Sep 2019: AUD 6.68 (THB139.41)

 

and while it's really super-helpful for certain contributors to this topic (most of whom probably don't live here) to point out we should not be here to eat foreign food, Thai beef is just not of merchantable quality. Nor is Thai Worcester sauce, by the way. Which is why locals, as well as farang, buy imported brands if they can afford it.

[CaptainNemo]

1 hour ago, Spock said:

TLDR

 

TLDR

 

China + debt = asian economic crisis 2 + cheap Thailand

[Ashto]

4 hours ago, stereolab said:

Go to Makro, they have 2 Mainland cheeses in 500g packs for 249baht. Not a sale price, day to day price. Unfortunately, they are not yet producing their Epicure cheese in that size.

You’ve lost me a bit. Is it 500g for 249 baht,  or 2x500g for 249 baht?

 

PS may have to move this to the cheese forum ????

[JMSIII]

It has always been about the rich getting richer, the poor getting poorer.   It's the globalist way!

[Chazar]

5 hours ago, zydeco said:

Heh, heh, heh. That said, Australian cheese was on sale in Tops yesterday!

Try an emirates  business  class  flight Thailand Uk Manchester £4800 do it the  other way £2200

[Destiny1990]

1 hour ago, MaxYakov said:

I found out this morning that Mac Donald's soft serve ice cream cone has more than doubled to 20 baht from its historic 9 baht price (while I wasn't looking I suppose). The cone is the only thing I buy there and this time I scoffed and walked out.

 

I'm minimally exchanging good money for baht from now on out. Not buying anything above the absolute minimum (or so I've resolved, anyway)

 

 

You sound like a fun guy to hang out with !