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Euro dropped 2% in value to THB this week. Reasons?


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During last weekend the Euro exchange rate was 37,16 THB

In the 5 days since then it has dropped to 36,45 THB

> Of course the covid 2nd wave in Europe will affect the exchange rate, but the Thai situation with the current political unrest and the 1.7 Trillion hit on the Thai tourist industry is not rosy either. 

What other factors are behind this 2% drop in value?

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image.png.389b171b7938adbc70fd7db9a67d8134.png

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So.... my Thai Baht  deposit get worth more € 😉 ...thanks to Thai immigration …😊. , try to see the bright side to it …,

 

No kidding , I think the "brex(s.h)it" negotiations coming closer to the real deadline of 15 November  , and also the USA  election with Biden might win ….to be a bad point for U.K.' Boris  USA deal …, could have some influence …., but naturally the c19 problems in Europe must be the main reason....now 36.46 /Euro at today11.21clock 

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30 minutes ago, Peter Denis said:

What other factors are behind this 2% drop in value?

 

Same as always, the performance against the US$.

 

Note the similarity to the graph you posted:

 

XE-EUR-USD-Currency-Chart-Euro-to-US-Dollar-Rates.png.a67bb324b84161d86988914bab1e438a.png

 

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Things are not looking good for the EU.
 

Brexit uncertainty, full blown COVID crisis, lockdowns etc will cause major economic problems.

 

I believe that drop is just the market pricing that in. Therefore THB looks strong in comparison.

 

Can the Thai economy suffer more than the EU one? Perhaps, but at least for now, the EU looks more vulnerable.

 

 

Edited by Barnabe
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On 10/30/2020 at 1:16 PM, Barnabe said:

Can the Thai economy suffer more than the EU one? Perhaps, but at least for now, the EU looks more vulnerable.

Any economy can suffer more, if their government is prepared to let their people starve, and put down protests.  

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