News Forum - Thai baht to continue dropping against the USD

[HiuMak]

10 hours ago, dj230 said:

Not sure how it works in thailand but in Canada if the canadian dollar drops, the price of goods goes up so it essentially works out to be the same for those holding foreign currency, its those holding the local currency that suffer (TBH) because they will be able to buy less.

Typically in a normal market situation, there will be inflation due to weakening of currency due mainly to importation of raw materials or goods being more expensive in local thai baht. Local produce or manufactured products still can be relatively cheaper. Also local produce can be fresher, why buy imports?

[AussieBob]

17 hours ago, miblish51 said:

 

Agree - I would say it has another 20-25% lower to go, based on the average rates since they floated the Baht in 1997 and it 'settled' after a few years.  It went up a little in the 2008/9 GFC, but quickly went back to 'normal'.  This time around it will take longer - but the end result is inevitable.

[JamesE]

2 minutes ago, AussieBob said:

based on the average rates since they floated the Baht in 1997 and it 'settled' after a few years

Current running average since 2011 = 32.4/$. 20% more than that would be 38.8 which has not been seen in the past decade.

[AussieBob]

21 minutes ago, JamesE said:

Current running average since 2011 = 32.4/$. 20% more than that would be 38.8 which has not been seen in the past decade.

True - but the real/correct value against the USD is much higher than now:

I would say that between 35 and 40 is the 'right' amount, and that changes within those levels are 'normal'.  The USD did not drop as much as the other world currencies due to GFC and the Junta, due to its own strength.  The Australia dollar (top 5 traded in world) shows what happened against most currencies:

[billywillyjones]

9 hours ago, PapayaBokBok said:

Maybe more tax cuts to the rich will fix it--like the Former Guy did......

Joe spends for Americans---The Former Guy is was pay to play........Cry More

 I see Trump is still living rent free between your ears... let it go... let the hate go...

[JamesE]

57 minutes ago, AussieBob said:

True - but the real/correct value against the USD is much higher than now:

I would say that between 35 and 40 is the 'right' amount, and that changes within those levels are 'normal'.  The USD did not drop as much as the other world currencies due to GFC and the Junta, due to its own strength.  The Australia dollar (top 5 traded in world) shows what happened against most currencies:

I was just thinking about how you could arbitrage with a Wise multi-currency account. This bears some looking into. Thanks for those charts. I've been mostly looking at this using derivative charts - essentially comparing one trend against another and plotting the result - but maybe I should take another look. Hmmmm...

[AussieBob]

2 hours ago, JamesE said:

I was just thinking about how you could arbitrage with a Wise multi-currency account. This bears some looking into. Thanks for those charts. I've been mostly looking at this using derivative charts - essentially comparing one trend against another and plotting the result - but maybe I should take another look. Hmmmm...

I have been looking into that for a while - Wise came out in front, so I got a Wise account (for later use).

[Metaluna]

Combine the dollar appreciation with a +5 percent, hoped for, increase in Social Security, and a lot of Americans will have improved conditions to live under next year.

[Metaluna]

18 hours ago, longwood50 said:

Just when you think they can't be more possibly irresponsible Quid Pro Quo Joe who has already spent trillions wants to add another 3.5 trillion to the pile. 

He may want it, but he ain't gonna get it.

[TimothyN]

On 10/2/2021 at 12:28 PM, 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.

Maybe you should read the chart that was published with the article.

[King Cotton]

On 10/2/2021 at 12:28 PM, nikoncam said:

 . . . right now the baht is trending upwards.

True, for sure, but 'trending upwards' . . . well, it just doesn't have quite the same reader appeal as 'drooping', does it.

[dj230]

8 hours ago, stuhan said:

I am no expert on money, all i see is i get more B from my uk pensions when the B is  45-46B  rather than 39-40B as it was a while back to 1 GBP and that means goods i buy are costing me less.

That’s if the price of goods stay the same, usually they increase to adjust 

[Bob20]

This topic has 1.6k views in one day.

Is it really that expensive here that we wish a further possible crisis on Thailand?

Reminds me of a guy who thought hospital treatment wasn't cheap enough

[stuhan]

1 hour ago, dj230 said:

That’s if the price of goods stay the same, usually they increase to adjust 

Yeah they stay the same for me anyway even go down due to competition.

 

[dj230]

22 minutes ago, stuhan said:

Yeah they stay the same for me anyway even go down due to competition.

I noticed this cause of covid, lots of deals, even big fast food chains are giving steep discounts/promos 

just wondering what province are you in? 
 

Edited October 3, 2021 by dj230

[riclag]

On 10/2/2021 at 12:09 PM, 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.

55! You need a pinch mate

[longwood50]

7 hours ago, Metaluna said:

He may want it, but he ain't gonna get it.

I hope you are right but the political leaders want it and they can induce or coerce their members to vote in favor of it.   $3.5 trillion is $29,166 dollars for every family in the USA.  Do you really think that there is any payback for those dollars.  No, it is strictly a reason to rob the treasury, bestow favors on those that support you, embezzle billions as they get lost in the spending. 

 

[riclag]

2 hours ago, longwood50 said:

I hope you are right but the political leaders want it and they can induce or coerce their members to vote in favor of it.   $3.5 trillion is $29,166 dollars for every family in the USA.  Do you really think that there is any payback for those dollars.  No, it is strictly a reason to rob the treasury, bestow favors on those that support you, embezzle billions as they get lost in the spending. 

 

Oh that idiom pops up again,sorta  like robbing Peter to pay Paul !

[riclag]

36 minutes ago, longwood50 said:

Not really robbing Peter to pay Paul.  More like fleecing the US taxpayer to bestow favors on those who they with to bribe with taxpayer money.  Great example is Planned Parenthood.  The US bestows money to them and they in turn make a contribution to support the DNC and specific Democrat candidates.  In effect that means that they are guilty of subverting taxpayer monies to make a contribution to themselves. 

You won’t get any disagreements or arguments from me!

 

Edited October 4, 2021 by riclag

[GMoney2312]

On 10/2/2021 at 11:20 AM, billywillyjones said:

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

You got that right!

[billywillyjones]

On 10/3/2021 at 12:30 PM, Metaluna said:

Combine the dollar appreciation with a +5 percent, hoped for, increase in Social Security, and a lot of Americans will have improved conditions to live under next year.

Minus inflation will put them back in the hole.. what are you smoking lol

[Metaluna]

19 hours ago, billywillyjones said:

Minus inflation will put them back in the hole.. what are you smoking lol

Thai inflation rate for 2021 is 1.1 percent vs an increase in US social security of between 5.5 and 6 percent.   https://www.adb.org/countries/thailand/economy

Edited October 5, 2021 by Metaluna

[billywillyjones]

Do you shop? Buy gasoline?  People need to stop drinking the kool aid and believe everything the govt tells them. Use your common sense.

http://www.shadowstats.com/

 

[Metaluna]

6 minutes ago, billywillyjones said:

Do you shop? Buy gasoline?  People need to stop drinking the kool aid and believe everything the govt tells them. Use your common sense.

http://www.shadowstats.com/

Your link refers to US government statistics. And, yes, in that case, a 5 to 6 percent increase in SS will not likely cover inflation in the US. But we are talking about Thailand in this topic, not the US. And I do not see Thai government statistics referenced in your link. And Thai inflation is minimal, unless you exist on imported Farang food and other goods, which I do not. 

[billywillyjones]

4 minutes ago, Metaluna said:

Your link refers to US government statistics. And, yes, in that case, a 5 to 6 percent increase in SS will not likely cover inflation in the US. But we are talking about Thailand in this topic, not the US. And I do not see Thai government statistics referenced in your link. And Thai inflation is minimal, unless you exist on imported Farang food and other goods, which I do not. 

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.