News Forum - Thai baht to continue dropping against the USD

[Metaluna]

15 minutes ago, billywillyjones said:

Talk to a Thai about inflation here they will tell you in a hurry.  Too many foreigners here completely out of touch with the realities the average Thais face.  

So do you have any data or links to your claim or not?

[billywillyjones]

Just now, Metaluna said:

So do you have any data or links to your claim or not?

Go talk to a few Thais.  Get out of the Ivory tower.  They will tell you in a hurry.  

[ThailandRyan]

60k Baht swing over my last Transfer from the US. 6 months ago.  Nice recoup. The Baht has been slowly sliding since July.  Today the rate that my funds transferred at was $1 to 33.82Thb.

[gummy]

2 hours ago, ThailandRyan said:

60k Baht swing over my last Transfer from the US. 6 months ago.  Nice recoup. The Baht has been slowly sliding since July.  Today the rate that my funds transferred at was $1 to 33.82Thb.

All good, lets hope it continues in the long term

[JamesR]

On 10/2/2021 at 11:10 AM, Griff1315 said:

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...

Me too, I bought a Toyota Avanza in 2004, it cost about 650,000 baht which worked out to be £8500 at the time, it has still only done 45,000 kms as it is my holiday car. A great bargain at the time. 

[JamesR]

On 10/2/2021 at 6:28 AM, 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.

Really, I just sent some £ to my account in Thailand and I got 46.07 baht to the £.

[Soidog]

1 hour ago, JamesR said:

Really, I just sent some £ to my account in Thailand and I got 46.07 baht to the £.

This all feels a little like 1997 all over again. Strong baht and then suddenly you wake up and it’s 100 baht to the GBP. Get ready to transfer all you can should that happen again

[Fester]

7 hours ago, Soidog said:

This all feels a little like 1997 all over again. Strong baht and then suddenly you wake up and it’s 100 baht to the GBP. Get ready to transfer all you can should that happen again

Several conditions don't really give us a rerun of 1997. The value of the baht is still mainly determined by the relative values of the USD and Euro. If we get 50 baht to the pound before end of 2021, I would be thankful.

[ThailandRyan]

Speculators have now entered the game and caused the baht to strengthen then weaken and then strengthen and so on against the US Dollar in the last 3 days.  You can see how its bouncing all over the place.

https://www.xe.com/currencycharts/?from=USD&to=THB&view=1W

[riclag]

I think it reacts to the current news at times , perfect example

” Thailand is opening up to tourists from… “ !

 

[Soidog]

1 hour ago, riclag said:

I think it reacts to the current news at times , perfect example

” Thailand is opening up to tourists from… “ !

Yes I have always thought that. Economic fundamentals provide an underlying support for a currency, after that fluctuations seem to be caused by sentiment and influenced by news. However, Thailand seems to buck that trend. Tanks on the street in May 2014 took the baht from 54/GBP to 50/GBP in May 2015. Riots on the street seem to do little to depress the baht. Even the 3 months of street protests before the coup did little to depress the baht.  It did loose around 2-% of its value but the whole capital was in chaos for 3 months. Civil war in a neighbouring country does little. It’s national airline in collapse does little. It’s capital city flooding does nothing. Imagine any of those things happening in the U.K. or US and the currency would drop 10-20% in a year. It seems in the U.K. if the morning news is “Rail workers demand 2% pay rise”, the pound loses 1-2% in the day! Maybe someone else more knowledgable can explain it why the baht seems so less susceptible to news? 

[JamesR]

7 hours ago, Soidog said:

Yes I have always thought that. Economic fundamentals provide an underlying support for a currency, after that fluctuations seem to be caused by sentiment and influenced by news. However, Thailand seems to buck that trend. Tanks on the street in May 2014 took the baht from 54/GBP to 50/GBP in May 2015. Riots on the street seem to do little to depress the baht. Even the 3 months of street protests before the coup did little to depress the baht.  It did loose around 2-% of its value but the whole capital was in chaos for 3 months. Civil war in a neighbouring country does little. It’s national airline in collapse does little. It’s capital city flooding does nothing. Imagine any of those things happening in the U.K. or US and the currency would drop 10-20% in a year. It seems in the U.K. if the morning news is “Rail workers demand 2% pay rise”, the pound loses 1-2% in the day! Maybe someone else more knowledgable can explain it why the baht seems so less susceptible to news? 

As can be seen by the graph of the £ against the baht and most other currencies since 2016 was the massive drop once the UK said it was leaving the EU.

It went even lower as the we negotiated with the EU and then threatened to leave without a deal, we were pretty close to doing that.

Once Boris had been elected and later got us a deal with the EU the £ went up and has continued to do so against the baht and the dollar etc.

I have just got a new driving licence the EU stars have gone and our good old Union Jack is in its place.