Jump to content

Thai baht dips after central bank rate cut, others lower


snoop1130

Recommended Posts

21 hours ago, sammieuk1 said:

The baht <THB=TH> fell up to 0.63% after the announcement, touching its weakest level to the dollar in nearly three weeks. The baht is emerging Asia's best performing currency this year.

 

Or a thimble full of wine???? 

Don't get me started on wine.

 

160 baht in Australia..

 

20191107_184646.jpg

Link to comment
Share on other sites

1 hour ago, dallen52 said:

Don't get me started on wine.

 

160 baht in Australia..

 

20191107_184646.jpg

Jacob's Creek is a very average wine in Oz. Not sure where the winemaker gets the front to describe a Shiraz and Cabernet blend as classic. At 33 AUD here, I'm not buying.

Link to comment
Share on other sites

15 hours ago, Lacessit said:

Jacob's Creek is a very average wine in Oz. Not sure where the winemaker gets the front to describe a Shiraz and Cabernet blend as classic. At 33 AUD here, I'm not buying.

Even the better labels are only around the $12 / 240  baht in Australia. 

Once that excise sticker goes on a bottle here, ka ching, ka ching. 

20191107_091555.jpg

Link to comment
Share on other sites

On 11/7/2019 at 10:37 AM, Xonax said:


I guess that the Chinese and Indian tourists does not spend much money on expensive wine and other stuff, while vacationing in Thailand.  But Thailand still won´t admit, that the western tourists should have been more appreciated, before they found other holiday destinations.

The original Thailand that western tourists fell so hard in love with, does no longer exist.  Today´s massive concrete hotels located side by side in tourist destinations, leading their faecal waste directly out in the ocean, does not attract any quality tourists.

Most Westerners still don't get that Thailand doesn't care about one tourism model over another, Western or Asian, it doesn't matter. The Western model remained the key one for so many years, the beer bars and the ago-go's but that changed to the mass tourism group with flag leading tour guides and daily speedboat trips out to the islands and buffet dinners for 299 baht.....it's all revenue, it's all income and the Asian mindset is to make a little bit of profit from each of a large number of customers.

 

Should the Western tourist have been more appreciated? Well, India and China both have their fair share of high spenders and I doubt many of them break the rules to the same extent, percentage wise, as their Western counterparts have, necessitating radical changes in visa laws and immigration sweeps. One thing is certain however, as soon as the GBP/THB exchange rate returns to sane territory, the Brit/European tourists at least will be back in their droves, faecal matter or not!

Link to comment
Share on other sites

On 11/7/2019 at 2:21 AM, phkauf said:

Playing the currency game is a dangerous game for Central Banks (Governments) and it looks like Thailand is going to learn a hard lesson in the near future. While they might have had a sugar high when the Baht was strong, it has come at the cost of killing the economy.

Exports are suffering - just the other day rice exporters are crying about how Thai rice is uncompetitive, which makes sense since it's basically a commodity with little differentiation. 

The hoped for benefit of the US - China trade spat is unlikely to happen now that is coming to an end. Plus with the high Baht, Vietnam and others are more attractive locations as an alternative to Thailand.

The tourism sector is bleeding out. While it's mostly anecdotal (more reliable than TAT), there are constant stories about how this is the worst season in years. I was speaking with a friend yesterday who wholesales high priced wine to hotels and restaurants in Bangkok and this year is horrible. Tourists are not spending on the luxuries like the used to.

Sadly, there is no easy solution to this mess. If they lower rates more to stimulate the economy, that could lead to an outflow of the hot money which would drop the baht but that could also get out of control as well. It looks like the BoT is about as well managed as THAI Airlines.

Good post,think the baht will crash soon,you can only blow up a balloon so far before it exploded in your face.

Link to comment
Share on other sites

On 11/7/2019 at 9:37 AM, Miami007 said:

If it were easy.. everyone would do it

 

Exchange rates don't always do what politicians want them to do. And the USA is not looking favorably on countries which take measures to lower their currencies (currency manipulators). 

So Thailand seems to be caught between a rock and a hard place. 

Many of the countries in SE Asia have fairly small economies.. their currencies can easily be impacted by outside forces and they cannot do much about it 

I am not saying it's easy but the gouverment can decide to control the incoming capital

(The actual level limit for the foreign investissors is ridiculously high)

and release or even encourage the capitals outflows (The limit is actualy ridiculously low)?

And in the same time start to use the mountain of foreign devises reserves

with a massive investissment in the health, education, ecology and so on.

It should help a little bit

if it's not too late now.....

Link to comment
Share on other sites

On 11/9/2019 at 4:44 PM, saengd said:

Most Westerners still don't get that Thailand doesn't care about one tourism model over another, Western or Asian, it doesn't matter. The Western model remained the key one for so many years, the beer bars and the ago-go's but that changed to the mass tourism group with flag leading tour guides and daily speedboat trips out to the islands and buffet dinners for 299 baht.....it's all revenue, it's all income and the Asian mindset is to make a little bit of profit from each of a large number of customers.

 

Should the Western tourist have been more appreciated? Well, India and China both have their fair share of high spenders and I doubt many of them break the rules to the same extent, percentage wise, as their Western counterparts have, necessitating radical changes in visa laws and immigration sweeps. One thing is certain however, as soon as the GBP/THB exchange rate returns to sane territory, the Brit/European tourists at least will be back in their droves, faecal matter or not!

 

I think maybe the Thais over estimated what Farang really have awhile back. Imagine you meet this guy he seems filthy rich you go to nice places and life is good. Now you marry him and his last 400K goes into a bank and the price of flip flops suddenly matter.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...