Susco Posted November 19, 2020 Share Posted November 19, 2020 (edited) 14 minutes ago, Mucky said: Weird. No money circulating from tourist.. High export cost via soaring baht. Mass unrest in bkk with protest's everyday. Mass unemployment. Yet baht keeps surging ??? Taken all those factors into account, maybe after all it isn't the baht that is surging, but foreign currencies that are going down the drain. However the baht has made the biggest gains, other Asian currencies have also increased against western currencies, and I doubt that all those Asian governments are manipulating their currencies Edited November 19, 2020 by Susco 1 Link to comment Share on other sites More sharing options...
Mavideol Posted November 19, 2020 Share Posted November 19, 2020 6 hours ago, keith101 said: So what has been done ? it's slowly (very) slowly depreciating....it's at 1 USD = 30.41 Baht this morning was around 30.19 let's keep our fingers crossed that will reach 32 by end of the week (2 days 555 ) 1 Link to comment Share on other sites More sharing options...
bkk6060 Posted November 19, 2020 Share Posted November 19, 2020 (edited) Always find it interesting how the entire world seems to fluctuate based on the US markets. Anyway, as the Baht gets stronger gold keeps taking a dump and the US markets are near highs. Gold forecasters were saying 2300 on a 2nd US stimulus which seems dead now due to promising vaccines. I would get out of gold before it goes much lower maybe to 1500. I see the Baht under 30 soon. Good luck. Edited November 19, 2020 by bkk6060 1 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 19, 2020 Share Posted November 19, 2020 So I read some comments on another forum, and one chap seemed to understand why the Baht has gone so high vs USD (and all connected western currencies). All about the 1%. Wealthy Chinese buy condos and other real estate, (perhaps to rent daily to zero baht tourists). The purchase takes Baht, and that lowers the Baht reserves in the local bank. Money for the condo purchased, goes to the Thai 1% , and they in turn, buy high end western things or travel worldwide. Bahts become scarcer—and so the Baht rises. Of course, with foreign money, everyone involved gets a cut. interesting theory—what do you think? 1 1 Link to comment Share on other sites More sharing options...
Time to grow Posted November 19, 2020 Share Posted November 19, 2020 4 hours ago, Thaifly88 said: interest rates are one way a central bank can have some control of exchange rates Is there another way? 2 Link to comment Share on other sites More sharing options...
Popular Post Mavideol Posted November 19, 2020 Popular Post Share Posted November 19, 2020 7 minutes ago, Time to grow said: Is there another way? printing more money 2 1 Link to comment Share on other sites More sharing options...
Time to grow Posted November 19, 2020 Share Posted November 19, 2020 2 hours ago, natway09 said: Interest rates are at an all time low, what else can they do ?? Central Bank Digital Currencies (CBDC's) will allow them to go to negative interest rates. CBDC's will also provide the means for vaccine tracking and vaccine enforcement should that become a thing. 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 19, 2020 Share Posted November 19, 2020 8 minutes ago, Time to grow said: Is there another way? Sure, stop taking foreign inflows—just turn off the spigot for a few weeks. 1 Link to comment Share on other sites More sharing options...
Susco Posted November 19, 2020 Share Posted November 19, 2020 20 minutes ago, Isaan sailor said: So I read some comments on another forum, and one chap seemed to understand why the Baht has gone so high vs USD (and all connected western currencies). So to be correct, there was one chap on that other forum that was posting what you have wanted to hear for the past year. Nothing to do with him having any knowledge. 22 minutes ago, Isaan sailor said: All about the 1%. Wealthy Chinese buy condos and other real estate, (perhaps to rent daily to zero baht tourists). The purchase takes Baht, and that lowers the Baht reserves in the local bank. Money for the condo purchased, goes to the Thai 1% , and they in turn, buy high end western things or travel worldwide. I very much doubt that the Chinese, or any foreign community for that matter, has been buying much in Thailand in the past 7-8 months, as they weren't allowed entrance. 25 minutes ago, Isaan sailor said: Bahts become scarcer—and so the Baht rises. Of course, with foreign money, everyone involved gets a cut. interesting theory—what do you think? That you should get better informed, instead of believing the conspiracies you have been spouting ever seen you signed up to this forum, because they don't add up to the reality 1 Link to comment Share on other sites More sharing options...
Abmong Posted November 19, 2020 Share Posted November 19, 2020 This better not be a repeat of 1997 when speculators were allowed to play with the currency. If that happens again there'll defo be a full blown revolution not just protests. Link to comment Share on other sites More sharing options...
kensisaket Posted November 19, 2020 Share Posted November 19, 2020 2 hours ago, NCC1701A said: It is a chart for today to show the reaction to the announcement. Exactly; and, it has been expanded to make it look like there was a much more significant reaction than there really was. Link to comment Share on other sites More sharing options...
Skeptic7 Posted November 19, 2020 Share Posted November 19, 2020 (edited) 8 hours ago, worgeordie said: Another no news, is good news, report from the Nation, wake me up when it drops 10 %.......???? regards Worgeordie I agree another No News story, but if you look at the chart in the OP article above... ...almost time for that Wake Up call... USD has dropped 9% from April to Nov. Edited November 19, 2020 by Skeptic7 Link to comment Share on other sites More sharing options...
Skeptic7 Posted November 19, 2020 Share Posted November 19, 2020 (edited) 1 hour ago, Mucky said: Weird. No money circulating from tourist.. High export cost via soaring baht. Mass unrest in bkk with protest's everyday. Mass unemployment. Yet baht keeps surging ??? It's the bulletproof baht. Nothing can put a dent in it. Been going on since 1998. Edited November 19, 2020 by Skeptic7 Link to comment Share on other sites More sharing options...
metisdead Posted November 19, 2020 Share Posted November 19, 2020 An off topic post and a reply has been removed. Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 19, 2020 Share Posted November 19, 2020 Turn of the foreign (Chinese) money spigot, that’s they need do. The Baht will go down. Link to comment Share on other sites More sharing options...
Traubert Posted November 19, 2020 Share Posted November 19, 2020 23 minutes ago, Isaan sailor said: Turn of the foreign (Chinese) money spigot, that’s they need do. The Baht will go down. Myth. 1 1 Link to comment Share on other sites More sharing options...
JeffP Posted November 19, 2020 Share Posted November 19, 2020 Get it back up to £1= B50 or above. 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 19, 2020 Share Posted November 19, 2020 25 minutes ago, Traubert said: Myth. Myth? Prove it’s a myth. Chinese inflows bring western currencies down. 1 Link to comment Share on other sites More sharing options...
Susco Posted November 19, 2020 Share Posted November 19, 2020 1 minute ago, Isaan sailor said: Myth? Prove it’s a myth. Chinese inflows bring western currencies down. Explain how inflows of Chinese money into Thailand can take other currencies down. Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 19, 2020 Share Posted November 19, 2020 4 minutes ago, Susco said: Explain how inflows of Chinese money into Thailand can take other currencies down. Read my post—Baht under pressure. You already commented on it. Link to comment Share on other sites More sharing options...
Susco Posted November 19, 2020 Share Posted November 19, 2020 2 minutes ago, Isaan sailor said: Read my post—Baht under pressure. You already commented on it. Thanks for confirming that your claims are pure conspiracies going on in your head, and that you have no reasonable explanation for them Link to comment Share on other sites More sharing options...
bwpage3 Posted November 19, 2020 Share Posted November 19, 2020 2 hours ago, Isaan sailor said: So I read some comments on another forum, and one chap seemed to understand why the Baht has gone so high vs USD (and all connected western currencies). All about the 1%. Wealthy Chinese buy condos and other real estate, (perhaps to rent daily to zero baht tourists). The purchase takes Baht, and that lowers the Baht reserves in the local bank. Money for the condo purchased, goes to the Thai 1% , and they in turn, buy high end western things or travel worldwide. Bahts become scarcer—and so the Baht rises. Of course, with foreign money, everyone involved gets a cut. interesting theory—what do you think? How many condo's do you think they are buying? Thai financials reporting unsold condo's are at an all time high. 1 Link to comment Share on other sites More sharing options...
peter48 Posted November 19, 2020 Share Posted November 19, 2020 I would guess you do not 'physically' need your wealthy Chinese investors to be in BKK . Likely there are social, family and business links. Developers , landlords, purchase properties for rent through 'agents' who do it for them. Companies do it for people based abroad. Same in NY, London or BKK etc. There are some big property bargains out there & Chinese being on top of Covid can go hunting I would think 2 hours ago, bwpage3 said: How many condo's do you think they are buying? Thai financials reporting unsold condo's are at an all time high. 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 19, 2020 Share Posted November 19, 2020 I think it’s obvious that foreign inflows drive the Baht upwards. And Chinese have the biggest share in this. No other investors could profit more from these massive zero-Baht tours. Link to comment Share on other sites More sharing options...
J Town Posted November 20, 2020 Share Posted November 20, 2020 At 0730 on 20 Nov I got a Transferwise rate of 30.39 Link to comment Share on other sites More sharing options...
sandyf Posted November 20, 2020 Share Posted November 20, 2020 12 hours ago, JeffP said: Get it back up to £1= B50 or above. Not much chance of that. BOT intervention has minimal effect compared to UK politics. Link to comment Share on other sites More sharing options...
sandyf Posted November 20, 2020 Share Posted November 20, 2020 3 hours ago, Isaan sailor said: I think it’s obvious that foreign inflows drive the Baht upwards. And Chinese have the biggest share in this. No other investors could profit more from these massive zero-Baht tours. And obviously foreign inflows from Thailand has driven the Yuan upwards. from the OP "Thailand is not the only country where vaccine optimism has boosted the currency. Chinese state banks have also been active in yuan markets to try to rein their nation's currency." Link to comment Share on other sites More sharing options...
brianthainess Posted November 20, 2020 Share Posted November 20, 2020 22 hours ago, webfact said: Thailand's central bank has intervened in the baht How????????????????????????? 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 20, 2020 Share Posted November 20, 2020 14 minutes ago, brianthainess said: How????????????????????????? They turned down the spigot flow of foreign funds—about a half turn. Link to comment Share on other sites More sharing options...
Traubert Posted November 20, 2020 Share Posted November 20, 2020 4 hours ago, Isaan sailor said: I think it’s obvious that foreign inflows drive the Baht upwards. And Chinese have the biggest share in this. No other investors could profit more from these massive zero-Baht tours. Another myth. The numbers show that the Chinese spend more per capita than anyone else. Member Saengd proved it on here. Link to comment Share on other sites More sharing options...
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