Thai baht goes from top-performing to worst-hit currency in Asia

[Alavan]

2 hours ago, gummy said:

You must be right it was a long time ago and in those days I always took traveller cheques, remember them  ? so yes possibly it was US $ I was thinking of. In recent times it hovered in the 46 to 54 levels for for a good time so even at say 48 - 50 would be good if it was maintained.

1991 the Baht was pegged at 25B. for a US$, and it stayed like that for something like 7-8 years. Then suddenly there was a crash and you got 50 Baht for a $. I remember bying my Callaway Big Bertha driver at a very cheap price.

Edited July 27, 2021 by Alavan

[Stonker]

10 hours ago, TobyAndrews said:

Forgive me for my lack of your logic. but if the baht collapses, say to B80 to the GB Pound, why is a tourist not a winner when preciously they bought a stir fry for one pound at B40, and now can buy two stir fries for a pound?

Your logic isn't lacking, @Toby, just your observation.

 

"..... who loses?

Tourists?   No, big winners."

 

NOTE  THE  COMMA!!!

 

Thanks, though - made my day!

[Paco]

21 hours ago, Soidog said:

I share your pain @Sanuk but even more so. When I first started living out in Thailand in 2006 I was getting 65 to the GB£. It then got 74 in 2007. Since then it has fallen and fallen. Back in 2019 it hit 36.9. That’s over half the value I was getting in 2007. Plus inflation has pushed prices up in the intervening 12 years. In real terms my pound was worth around 60% less than when I arrived. Now that’s a real problem. You Americans who lost 10% really should not complain too much

Also the English  should not complain I remember what a show offs in that time now they whining because these show off times are gone ... welcome to Europe hahahahaha either way dollar, pound and euro going up already a while

[Soidog]

1 hour ago, Paco said:

Also the English  should not complain I remember what a show offs in that time now they whining because these show off times are gone ... welcome to Europe hahahahaha either way dollar, pound and euro going up already a while

I agree. Being English means you have nothing really to complain about.

[gummy]

And 45.69 THB to 1 GBP minutes ago. Will it breach the 46 barrier Friday am before profit taking cuts in ?

[billyburi]

Not even close to pre Brexit vote days....... 

[TobyAndrews]

15 hours ago, Stonker said:

Your logic isn't lacking, @Toby, just your observation.

"..... who loses?

Tourists?   No, big winners."

NOTE  THE  COMMA!!!

Thanks, though - made my day!

I fail to see what causes your mirth.

"Who loses", followed by "Tourists? No, big winners." means tourists are not big winners.

You are just denying by  faulty excuse, that your post is incorrect.

[Fester]

20 hours ago, Alavan said:

1991 the Baht was pegged at 25B. for a US$, and it stayed like that for something like 7-8 years. Then suddenly there was a crash and you got 50 Baht for a $. I remember bying my Callaway Big Bertha driver at a very cheap price.

Fore!

[NCC1701A]

don't forget it's your country's currency that has been going into the toilet. 

as soon as the pandemic is over Thailand will have a giant rush of hot money again. 

Edited July 28, 2021 by NCC1701A

[gummy]

4 minutes ago, NCC1701A said:

don't forget it's your country's currency that is going into the toilet. 

as soon as the pandemic is over Thailand will have a giant rush of hot money again. 

And hopefully Pattaya will have a giant rush of hot girls too

[Stonker]

7 hours ago, TobyAndrews said:

I fail to see what causes your mirth.

"Who loses", followed by "Tourists? No, big winners." means tourists are not big winners.

You are just denying by  faulty excuse, that your post is incorrect.

Are you serious?

 

"No, big winners" means "no" , tourists  don't lose (first part) then that they're "big winners" (second part) with the comma separating the two.

 

With comma (no, big winners) and without comma (no big winners) have completely different meanings - I realise you didn't understand that at first, but to just keep on digging your hole .....  

[TobyAndrews]

Quote

 

Well just put it another way without waffle and deception.

If you wanted to write the tourists are big winners

You should have wrote Who loses?

Tourists? No, they are big winners. not Tourists? No, big winners.

 

[BigHewer]

Well, well… 1 Thai baht = 3.35 yen. Same level it was at before the pandemic. And the yen is still at 110 yen to the US dollar. 

I think there is some speculation the baht will recover. I don’t see it falling too much. In fact, I think it will rise.

[TiT]

I'd be happy seeing another 10% gain against the THB.  I feel like 35 THB to 1 USD is a pretty fair value when you assess the price of goods in quality places like Tops.  

[PapayaBokBok]

 

Yes karma is at work in Thailand. But most go to temples but not understand any of teachings of Buddha bit they call them Buddhists. Same like this nationalists who talking about buddhism but have clue of it and living, acting and talking the opposite of what Buddha teaches. What goes around comes around,  yes we can see and hear it daily now. 

I like the ones that go pray at the temples to get rich and then walk to the lottery lady set up 3 meters away

Cos Buddha is all about da bling!

[bushav8r]

 

Before the pandemic, the Thai baht was the strongest-performing currency in Asia. Now, it’s the worst-hit currency in the region, according to Japan-based Mizuho Bank. The Thai economy has been shrinking over the past year, hitting lows which some compare to the contraction during the 1997 Asian financial crisis. The Japanese bank says the under-performance of the Thai baht is “uncharacteristic” and renders it “the worst performer to date in 2021.” The financial analysis platform Refinitiv Eikon also found the Thai baht to be the weakest-performing currency in the Asia Pacific region. As of this morning, the Thai baht had dropped […]

The post Thai baht goes from top-performing to worst-hit currency in Asia appeared first on Thaiger News.

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A correction has been in order for a very long time.  The Thai Baht has been  artificially high for too long.

[gummy]

 

A correction has been in order for a very long time.  The Thai Baht has been  artificially high for too long.

And in reply it is now 45.64 THB to 1 GBP 

[gummy]

XE and WISE just a minute ago 45.89 THB to 1 GBP. I shall wait till Monday to transfer though, looking forward to 46.10 hopefully, been a long time 

[JamesR]

Even better, as of today the baht to the £ is 46 baht to 1£

[gummy]

46.12 THB = 1 GBP yesterday when I did a transfer but this morning eased back to 45.96

[Rain]

Against the US dollar, I suspect that the Baht will be just hovering over 34 by week's end. 

[AussieBob]

Long way to go - still 20+% over valued - the inevitable correction will occur eventually.

 

[JamesE]

4 minutes ago, Rain said:

Against the US dollar, I suspect that the Baht will be just hovering over 34 by week's end. 

There's this interesting feature in Wise that gives you an idea what they're thinking: the Guaranteed rate (time). Wise, being much smarter about such things than I am, makes me pay attention to this. The time is shown next to the exchange rate you're quoted when you start your transfer. If the time is longer (>24 hrs during the week and >60 hrs on the weekend), Wise is thinking that things will be stable or move in a direction that would be favorable for them. With a short time the converse applies. Right now they're guaranteeing 7 hrs. Which is the shortest I've ever seen it.

[gummy]

6 minutes ago, JamesE said:

There's this interesting feature in Wise that gives you an idea what they're thinking: the Guaranteed rate (time). Wise, being much smarter about such things than I am, makes me pay attention to this. The time is shown next to the exchange rate you're quoted when you start your transfer. If the time is longer (>24 hrs during the week and >60 hrs on the weekend), Wise is thinking that things will be stable or move in a direction that would be favorable for them. With a short time the converse applies. Right now they're guaranteeing 7 hrs. Which is the shortest I've ever seen it.

Thanks for that observation. All the time I have used them I stupidly never paid attention to that.

[JamesR]

28 minutes ago, gummy said:

46.12 THB = 1 GBP yesterday when I did a transfer but this morning eased back to 45.96

I use Transferwise now known as just Wise as the rates are good and the cost is cheap.