Excel Posted April 10, 2021 Share Posted April 10, 2021 Apologies if this is not in the right forum but I thought it general issues. Just looked at the exchange rate and whereby the GBP/THB was all week in the 43s it is now dropped back to 42s. So I thought given the latest covid wave in Thailand set to be more economically devastating to the already weak Thai economy then the previous two, is there a possibility that the Thai government are diverting vast sums from the healthcare areas where it is vitality needed in order to manipulate the baht again ? 1 Link to comment Share on other sites More sharing options...
Pilotman Posted April 10, 2021 Share Posted April 10, 2021 It is 42.84, hardly a significant drop from 43.17 as was a few days ago. This just looks like normal fluctuation,. not manipulation. 1 Link to comment Share on other sites More sharing options...
Excel Posted April 10, 2021 Author Share Posted April 10, 2021 8 minutes ago, Pilotman said: It is 42.84, hardly a significant drop from 43.17 as was a few days ago. This just looks like normal fluctuation,. not manipulation. It peaked 43.58 Tuesday, as at time of original posting it was 42.76. Yes I would call a 1.9% change a significant drop in 4 days. Aware that Fridays are time for profit taking but last week it actually rose again on the Saturday. 1 Link to comment Share on other sites More sharing options...
dabhand Posted April 10, 2021 Share Posted April 10, 2021 The lower GBP/THB rate just reflects the fact that the GBP lost value against the USD in the last few days. The currency market operates on cross trades with the USD being the link for providing the other quoted rates. Looking at the USD/THB rate the trend continues to be down, for the THB, with the current rate at 31.46, a near 6 month low. 1 Link to comment Share on other sites More sharing options...
stevenl Posted April 10, 2021 Share Posted April 10, 2021 "is there a possibility that the Thai government are diverting vast sums from the healthcare areas where it is vitality needed in order to manipulate the baht again ?" Sorry, economics doesn't work that way. 2 Link to comment Share on other sites More sharing options...
Popular Post BritManToo Posted April 10, 2021 Popular Post Share Posted April 10, 2021 1 hour ago, Excel said: Just looked at the exchange rate and whereby the GBP/THB was all week in the 43s it is now dropped back to 42s. Exchange rate at the weekend is not really relevant, all the financial exchanges are closed. Although I've noticed a steep drop throughout many previous weekends, which instantly recover at open of international money markets on Monday. 4 1 Link to comment Share on other sites More sharing options...
Chivas Posted April 10, 2021 Share Posted April 10, 2021 When are some going to grasp that only the USD has a direct exchange rate with every worldwide currency lol 1 Link to comment Share on other sites More sharing options...
Excel Posted April 10, 2021 Author Share Posted April 10, 2021 3 hours ago, stevenl said: "is there a possibility that the Thai government are diverting vast sums from the healthcare areas where it is vitality needed in order to manipulate the baht again ?" Sorry, economics doesn't work that way. How little you know 1 3 Link to comment Share on other sites More sharing options...
morrobay Posted April 10, 2021 Share Posted April 10, 2021 18 hours ago, dabhand said: The lower GBP/THB rate just reflects the fact that the GBP lost value against the USD in the last few days. The currency market operates on cross trades with the USD being the link for providing the other quoted rates. Looking at the USD/THB rate the trend continues to be down, for the THB, with the current rate at 31.46, a near 6 month low. The baht/pound is from: 1.37$/pound x 31.46baht/$ = 43.1 Link to comment Share on other sites More sharing options...
Popular Post Wiggy Posted April 11, 2021 Popular Post Share Posted April 11, 2021 I don’t know, but my wife seems to transfer funds to manipulate my economy. 1 1 5 Link to comment Share on other sites More sharing options...
Excel Posted April 11, 2021 Author Share Posted April 11, 2021 6 hours ago, morrobay said: The baht/pound is from: 1.37$/pound x 31.46baht/$ = 43.1 Today 42.12 to the pound 1 Link to comment Share on other sites More sharing options...
morrobay Posted April 11, 2021 Share Posted April 11, 2021 3 hours ago, Excel said: Today 42.12 to the pound https://coinmill.com/GBP_THB.html#GBP=1 Link to comment Share on other sites More sharing options...
Excel Posted April 11, 2021 Author Share Posted April 11, 2021 15 minutes ago, morrobay said: https://coinmill.com/GBP_THB.html#GBP=1 1.00 British Pound = 42.122891 Thai Baht Ex.com Link to comment Share on other sites More sharing options...
morrobay Posted April 11, 2021 Share Posted April 11, 2021 5 minutes ago, Excel said: 1.00 British Pound = 42.122891 Thai Baht Ex.com Just do a Google search: pound to baht. 43.1 . The point missed evidently is the pound to baht is derived from $/pound x baht /$. I guess your denial here is in defence of your OP. 1 Link to comment Share on other sites More sharing options...
Excel Posted April 11, 2021 Author Share Posted April 11, 2021 (edited) 8 minutes ago, morrobay said: Just do a Google search: pound to baht. 43.1 . The point missed evidently is the pound to baht is derived from $/pound x baht /$. I guess your denial here is in defence of your OP. Nothing to do with denial. XE.com is a reputable FX site. But ignorance is not an excuse for your protaganisitic replies so you are now on ignore. Edited April 11, 2021 by Excel 1 Link to comment Share on other sites More sharing options...
Caldera Posted April 11, 2021 Share Posted April 11, 2021 Wouldn't they use a major currency for any such shenanigans, instead of the GBP? 1 Link to comment Share on other sites More sharing options...
Pilotman Posted April 11, 2021 Share Posted April 11, 2021 On 4/10/2021 at 11:12 AM, Excel said: It peaked 43.58 Tuesday, as at time of original posting it was 42.76. Yes I would call a 1.9% change a significant drop in 4 days. Aware that Fridays are time for profit taking but last week it actually rose again on the Saturday. it is back above 43 today, which rather proves my point. Link to comment Share on other sites More sharing options...
Excel Posted April 11, 2021 Author Share Posted April 11, 2021 1 minute ago, Pilotman said: it is back above 43 today, which rather proves my point. XE.com now 1.00 British Pound =42.124247 Thai Baht What point was that ? Link to comment Share on other sites More sharing options...
offset Posted April 11, 2021 Share Posted April 11, 2021 1 minute ago, Excel said: XE.com now 1.00 British Pound =42.124247 Thai Baht What point was that ? That type of drop happen last weekend but it went back up first think on Monday morning, Travelwise are still offering 43.138 for 20 hrs 1 1 Link to comment Share on other sites More sharing options...
Excel Posted April 11, 2021 Author Share Posted April 11, 2021 Just now, offset said: That type of drop happen last weekend but it went back up first think on Monday morning, Travelwise are still offering 43.138 for 20 hrs That exchange rate was as quoted by xe.com 5 minutes ago, not last week. Please read the posts fully. Link to comment Share on other sites More sharing options...
Pilotman Posted April 11, 2021 Share Posted April 11, 2021 4 minutes ago, offset said: That type of drop happen last weekend but it went back up first think on Monday morning, Travelwise are still offering 43.138 for 20 hrs exactly 1 Link to comment Share on other sites More sharing options...
offset Posted April 11, 2021 Share Posted April 11, 2021 53 minutes ago, Excel said: That exchange rate was as quoted by xe.com 5 minutes ago, not last week. Please read the posts fully. I did read your post correctly this is the second weekend that the pound as dropped over the weekend according to xe.com I will wait till Monday morning to see what the rate is then 1 Link to comment Share on other sites More sharing options...
NoshowJones Posted April 12, 2021 Share Posted April 12, 2021 (edited) On 4/10/2021 at 10:57 AM, Pilotman said: It is 42.84, hardly a significant drop from 43.17 as was a few days ago. This just looks like normal fluctuation,. not manipulation. It is back up to where it was on Friday, it dropped about one baht on Sat, then today (Monday) it is back to where it was on Friday, around 43.14. Edited April 12, 2021 by possum1931 Link to comment Share on other sites More sharing options...
Excel Posted April 12, 2021 Author Share Posted April 12, 2021 3 minutes ago, possum1931 said: It is back up to where it was on Friday, it dropped about one baht on Sat, then today (Monday) it is back to where it was on Friday, around 43.64. XE.com just showing it as 43.12. But anyway the higher the better Link to comment Share on other sites More sharing options...
NoshowJones Posted April 12, 2021 Share Posted April 12, 2021 1 minute ago, Excel said: XE.com just showing it as 43.12. But anyway the higher the better Sorry, my mistake, I will go and edit it. Link to comment Share on other sites More sharing options...
Pilotman Posted April 12, 2021 Share Posted April 12, 2021 1 hour ago, possum1931 said: It is back up to where it was on Friday, it dropped about one baht on Sat, then today (Monday) it is back to where it was on Friday, around 43.14. But one of our number on here seems obsessed by small fluctuations in the rate, I couldn't live like that. It is what is is. As I can't influence it, I can't be bothered to be that bothered about it. 1 Link to comment Share on other sites More sharing options...
BritManToo Posted April 12, 2021 Share Posted April 12, 2021 14 hours ago, Excel said: That exchange rate was as quoted by xe.com 5 minutes ago, not last week. Please read the posts fully. the financial markets are closed at the weekends. Any changes in XE on Saturday or Sunday are not really related to anything. change your money on weekdays! Link to comment Share on other sites More sharing options...
Excel Posted April 12, 2021 Author Share Posted April 12, 2021 1 hour ago, BritManToo said: the financial markets are closed at the weekends. Any changes in XE on Saturday or Sunday are not really related to anything. change your money on weekdays! What has changing money got to do with the topic of currency manipulation ? 1 Link to comment Share on other sites More sharing options...
morrobay Posted April 12, 2021 Share Posted April 12, 2021 (edited) 18 hours ago, Caldera said: Wouldn't they use a major currency for any such shenanigans, instead of the GBP? Sure they would. As you can see the way to decrease baht to pound is to decrease baht/$. From 1.37 $/pound x 31.46baht/$= 43.1 Just plug in 30 baht/$ and pound drops to 41.1 And I think the baht is being manipulated by those that not coincidentally benefit as well as have power to manipulate Edited April 12, 2021 by morrobay Link to comment Share on other sites More sharing options...
Chivas Posted April 12, 2021 Share Posted April 12, 2021 4 hours ago, morrobay said: Sure they would. As you can see the way to decrease baht to pound is to decrease baht/$. From 1.37 $/pound x 31.46baht/$= 43.1 Just plug in 30 baht/$ and pound drops to 41.1 And I think the baht is being manipulated by those that not coincidentally benefit as well as have power to manipulate I'm being incredibly polite but dont give up your day job !! Baht takes its "fix" off the USD 24/7 (as does every worldwide currency) but Sterlings interaction is only via its own fix off the USD on the opposite side of the currency pairings as regards Sterling/Baht Dont confuse matters. What we want is the Baht to weaken out to 33 (plus) against its benchmark. The other side of the pairings can take care of themselves hopefully...Sterling/Dollar Euro/Dollar AUD/Dollar etc etc Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now