News Forum - Thai baht to continue dropping against the USD

[Thaiger]

The Thai baht is forecast to droop to a 4-year low over the next trading week, and its largest monthly currency drop for over 20 years. The Baht’s challenges shadow US dollar gains over concerns about the US Fed’s (US Federal Reserve) ‘tapering’ plans as it reins in enthusiastic stimulus of the US economy. Thailand’s baht has been the region’s worst-performing currency over 2021, dropping over 11% in value against the USD. The US dollar is now close to a one-year high as investors worry that the US Fed could start pushing up interest rates during the next 12 months. […]

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[stuhan]

I'm not complaining about that,my uk pensions are worth more now. Make the most of it while it lasts.

[EdwardV]

Sounds good to me. Love to see it get to 36 by the time I visit but 34 plus will do just fine. 

[billywillyjones]

The way ole dementia Joe is spending I wouldn't put too much confidence in the US dollar even against Thailand at this time...

[9S_]

I’m conflicted but …

[Hamosity]

1 hour ago, Thaiger said:

The Thai baht is forecast to droop to a 4-year low over the next trading week,

I think there’s pills for that. 

[gummy]

1 hour ago, stuhan said:

I'm not complaining about that,my uk pensions are worth more now. Make the most of it while it lasts.

The sooner it gets back to 55 THB+ = 1 GBP the better. Gross manipulation over the years also for the THB and with an incompetent Thai government hopefully that will not be too long in coming.

[nikoncam]

this article is misleading, the thai baht is still pretty high compared to august and even then august was still higher than in january and still higher than april of last year. you guys writing these articles need to learn how to read charts. right now the baht is trending upwards.

[AlexPTY]

Sweet music to my ears 

[Fester]

2 hours ago, Thaiger said:

The Thai baht is forecast to droop to a 4-year low over the next trading week, and its largest monthly currency drop for over 20 years. The Baht’s challenges shadow US dollar gains over concerns about the US Fed’s (US Federal Reserve) ‘tapering’ plans as it reins in enthusiastic stimulus of the US economy. Thailand’s baht has been the region’s worst-performing currency over 2021, dropping over 11% in value against the USD. The US dollar is now close to a one-year high as investors worry that the US Fed could start pushing up interest rates during the next 12 months. […]

The post Thai baht to continue dropping against the USD appeared first on Thaiger News.

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The Baht has been slipping since January and is already lower against the Dollar than it was 4 years ago! The Baht was overvalued for many years but the recent surge in the USD will likely be short-lived, as it is doubtful that the US will be able to sustain any interest rate hikes for long due to enormous debt/interest payments.

Tapering and interest rate hikes will hit the US equity markets, which have been enjoying free money for years. Markets fell from 2016-18 when rates were pushed up to 2.5%, before the Fed cut them back to 1.55%, even before Covid saw rates back to zero again.

Edited October 2, 2021 by Fester

[TheDirtyDurian]

13 minutes ago, nikoncam said:

this article is misleading, the thai baht is still pretty high compared to august and even then august was still higher than in january and still higher than april of last year. you guys writing these articles need to learn how to read charts. right now the baht is trending upwards.

Nope. Slightly lower than August, and the downward trend started around January

 

 

[gummy]

1 hour ago, nikoncam said:

this article is misleading, the thai baht is still pretty high compared to august and even then august was still higher than in january and still higher than april of last year. you guys writing these articles need to learn how to read charts. right now the baht is trending upwards.

what ever it is you are taking please let us know 

[WilliamG]

1 hour ago, nikoncam said:

this article is misleading, the thai baht is still pretty high compared to august and even then august was still higher than in january and still higher than april of last year. you guys writing these articles need to learn how to read charts. right now the baht is trending upwards.

Not according to the chart on my Currency app. A downward trend for the last 12 months against both USD & GBP.

[harry1]

markets are based on data and speculation,as there been little data in the last 2 years,speculation is now based on the countrys successful vaccine program,getting the workers back to work.in thailand case its been slow and unpredictable and why the baht has so far loss up to 15% against major currencies and it will continue until they get their own house in order.data from the government,in these times is pure fictional

[AussieBob]

It is inevitable. The Baht started increasing dramatically in 2014 when the Junta took over. That resultant drop in exports and tourism started to bite in 2017, but the Junta kept going ahead with massive infrastructure projects and that kept the Baht higher than it should have been for the benefit of a small percentage of the people of Thailand.  Covid exposed what was going on and the Baht is slowly going back to where it should be.   This is the AUD/THB numbers for the last 10 years - it is obvious what the Junta did.

[Jason]

Swings and roundabouts. But a lower Baht makes for cheaper exports and entices more tourists to come.

[miblish51]

51 minutes ago, AussieBob said:

"The Baht started increasing dramatically in 2014 when the Junta took over."

Against the AUD, yes. Against the USD, not until May, 2015. So there were likely other factors at play.

Where the baht is headed is closer to its natural rate, free of government interference to pump it up to lessen their foreign debts.

 

Edited October 2, 2021 by miblish51

[Soidog]

3 hours ago, TheDirtyDurian said:

Nope. Slightly lower than August, and the downward trend started around January

In August, the highest the USD hit was 33.46 on August 10th. In September the highest was 33.94 on September 30th. So the USD was higher in September then in August. It’s currently 33.59 as of today and so it has fallen compared to the high in September.
 

Maybe we are tripping over terminology? But the USD value against the Baht has been on an Upward trend since January. On January 1st  it was exactly 30.0. Today it is 33.59. That means it has gone UP. As your graph clearly shows. 

[Soidog]

1 hour ago, Jason said:

Swings and roundabouts. But a lower Baht makes for cheaper exports and entices more tourists to come.

True, but it also costs more to borrow money. In these Covid times with rising government borrowing, a lower baht means more expensive loans 

[Griff1315]

4 hours ago, gummy said:

The sooner it gets back to 55 THB+ = 1 GBP the better. Gross manipulation over the years also for the THB and with an incompetent Thai government hopefully that will not be too long in coming.

I want more please 

Back to 72 baht = £1 sounds better or even the one time record of 100 baht/£1

Bring it on....

[Guevara]

March 2020 1GBP = 41BHT. October 2021 1GBP= 45.40 BHT. The Baht has been hovering around 45BHT=1GBP for months now. 

An old Thai friend told me a couple of years ago that at one time (some years ago) you could expect 80BHT=1GBP. He was complaining until I pointed out that tourists were leaving bigger tips as a result. He didn't disagree. I just wonder if Biden can screw up the USD.

[Guevara]

5 hours ago, Hamosity said:

I think there’s pills for that. 

It's the ViagraBaht. But ease off on the Leo or Chang.

[Soidog]

11 minutes ago, Griff1315 said:

I want more please 

Back to 72 baht = £1 sounds better or even the one time record of 100 baht/£1

Bring it on....

Those were the days my friend! Back in 2006 it was around the 72-74 region.   A couple of years ago it fell to 38. I hear our American friends complaining about a 10% loss of value of USD. Try living with a  near 50% loss of value. Back in 2007 if someone had told me to accept 50 I’d have told them to go away. Now, most Brits would take that all day long. How the times have changed…

The interesting thing about the GBP to THB rate, is the 42-44 is about the average since 1960. The period of 65+ was a brief period where we were living a fools paradise. See attached…

[Bob20]

3 minutes ago, Soidog said:

Those were the days my friend! Back in 2006 it was around the 72-74 region.   A couple of years ago it fell to 38. I hear our American friends complaining about a 10% loss of value of USD. Try living with a  near 50% loss of value. Back in 2007 if someone had told me to accept 50 I’d have told them to go away. Now, most Brits would take that all day long. How the times have changed…

The interesting thing about the GBP to THB rate, is the 42-44 is about the average since 1960. The period of 65+ was a brief period where we were living a fools paradise. See attached…

I've got a pretty good flux-capacitor for sale

[Griff1315]

1 minute ago, Soidog said:

Those were the days my friend! Back in 2006 it was around the 72-74 region.   A couple of years ago it fell to 38. I hear our American friends complaining about a 10% loss of value of USD. Try living with a  near 50% loss of value. Back in 2007 if someone had told me to accept 50 I’d have told them to go away. Now, most Brits would take that all day long. How the times have changed…

The interesting thing about the GBP to THB rate, is the 42-44 is about the average since 1960. The period of 65+ was a brief period where we were living a fools paradise. See attached…

Bought my first new car and built our first home back in the good old days of 70+ to the £.

Must have been a right kick in the teeth for a lot of UK pensioners over these last 12 years or so 

2008 first big drop down to low 50s

2016 Brexit vote and down to low 40s.

Let's hope we are finally onto a good streak...