Announcement

Collapse
No announcement yet.

Thai Baht to go to 28?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    • Today June 26th 2020 the Thai baht is being exchanged at 30.40 baht to every 1 US dollar.

    • Time to reflect on a post made one year ago today.



    Originally posted by Butterfly View Post
    what a sad farce


    Originally posted by Boon Mee View Post

    Originally posted by Butterfly View Post
    what a sad farce


    I will agree with you if and when he doesn't get the baht back to 33/34 against the USD.

    Hearing he's got 3 months to achieve that or his coalition is gone.
    Boon Mee the tax cheat posted on June 26th 2019 that the Thai PM and his coalition would have to get the Thai baht up to 33/34 baht to every 1 US dollar within 3 months or the Thai PM and his coalition would be gone.

    On June 26th 2019 the Thai baht was being exchanged at 30.33 baht to every 1 US dollar. Today the Thai baht is being exchanged at 30.40 baht to every 1 US dollar. An increase of only 0.07 Thai baht to every 1 US dollar.


    During this past year the Thai baht never reached 33 baht to every 1 US dollar and the Thai PM is still in office and his coalition is even stronger today.: https://www.bangkokpost.com/thailand...ction#cxrecs_s

    Fact. If you every read any post/prediction made by the tax cheat Boon Mee take it with a grain of salt. It doesn’t know what it’s talking about.
    Keep your friends close and your enemies closer

    Comment


    • The Thai baht ended last week (July 6 – 10, 2020) being exchanged at 30.86 baht to every 1 US dollar. Remaining strong against the US dollar.


      Keep your friends close and your enemies closer

      Comment


      • The Thai baht ended last week (July 13 – 17, 2020) being exchanged at 31.23 baht to every 1 US dollar.


        Keep your friends close and your enemies closer

        Comment


        • The end of the week (July 20 – 24) the Thai Baht was being exchanged at 31.22 baht to every 1 US dollar.


          • BOT denies manipulating baht value for trade advantages

          The Bank of Thailand (BOT) has reassured that it is not engaged in manipulating the baht to increase trade benefits, refuting a warning that the country could be placed on the US list of currency manipulators.

          On Wednesday, the UBS Group said that Thailand and Taiwan may be added to the US watchlist for currency manipulation, if they meet all the criteria of the Treasury Department.

          Chantavarn Sucharitakul, BOT assistant governor of communications and corporate relations group, informed on Thursday that the bank has exchanged information continually with the US Treasury about the transfer of capital in the global market, Thai trade surplus, and BOT's need to take care of the baht in case capital flows suddenly to Thailand.

          She also said that the BOT's foreign exchange transactions were not aimed at manipulation to boost Thailand's trade benefits over that of its trade partners.

          The baht has moved in both directions against the dollar and actually had weakened, she said. The central bank’s transaction was to purchase and sell foreign currencies, in line with the capital flow situation.: https://www.nationthailand.com/news/...ernal_referral - https://www.bangkokpost.com/business...for-trade-gain

          Keep your friends close and your enemies closer

          Comment


          • Why the over concern with the Baht when you don't live here is quite perplexing and baffling.

            Comment


              • The end of the week (July 27 – 31) the Thai Baht was being exchanged at 30.73 baht to every 1 US dollar.


              • BoT plan to curb baht by severing link to gold

              The Bank of Thailand is considering severing the link between gold trading and the baht as one way to limit the currency’s gains without incurring criticism by the US of foreign-exchange manipulation.

              The central bank says it is in talks with market participants about converting local gold trading to US dollars, including futures, to reduce the baht’s strength. Policy makers have long complained the appreciating currency threatens to damage the country’s exports.

              The baht fell at the start of the Covid-19 outbreak but has since gathered strength amid the gold fervor. The surge in the precious metal has convinced many Thais to cut their holdings, forcing local shops to sell in the international market. The step of exchanging dollars into baht as part of the process has been one of the factors helping the Thai currency gain about 5% from its March low.

              The baht has been the best-performing Asian currency over the past four years, appreciating about 10% against the dollar over the period. The currency’s real effective exchange rates was at 111.4 at the end of June versus a 10-year moving average of 103.7, indicating it is overvalued, according to a gauge from the Bank for International Settlements.

              The market for wholesale gold trading in baht is about $50 billion a year, or about 5% to 7% the size of of Thailand’s foreign-exchange market, according to figures from SCB Securities Co.

              UBS Group AG and ING Groep NV have both warned that Thailand is at risk of being added to the U.S. watchlist for currency manipulation for meeting the criteria set out by the Treasury Department. For its part, the Thai central bank has repeatedly said it does not influence the currency to gain an unfair competitive advantage.

              “If the BoT went about with the traditional managed float, it would place it on the radar of the U.S. Treasury as a potential manipulator,” said Kobsidthi Silpachai, head of capital market research at Kasikornbank Plc in Bangkok. “But to do nothing would equate to the continuation of the loss in the baht’s competitiveness.”

              Whether the gold-trading proposals are approved “depends on the willingness of the next BoT governor to experiment with non-conventional monetary measures,” Kobsidthi said. The cabinet on Wednesday picked Sethaput Suthiwart-Narueput to become the next central bank governor for a five-year term starting in October.

              Gold Traders

              The Thai Gold Traders Association is studying details of the conversion plan and will see how it can comply, said Jitti Tangsithpakdi, president of the trade group. Thailand is the world’s ninth-largest gold exporter, despite not being a major producer, according to Kasikornbank.

              The rule change “should help reduce baht volatility,” said Somprawin Manprasert, chief economist at Bank of Ayudhya Pcl in Bangkok. “But the baht will continue to appreciate in the long term even if our real sector is in pain,” he said, citing the country’s ample international reserves and current-account surplus.

              The baht will strengthen to 30.75 per dollar this year and reach 30 at the end of 2021, Somprawin said. The currency was little changed on Wednesday at 31.505, according to data compiled by Bloomberg.: https://www.bangkokpost.com/business...erbox#cxrecs_s
              Keep your friends close and your enemies closer

              Comment


              • The week ending August 7th, 2020 the Thai Baht was being exchanged at 30.73 baht to every 1 US dollar.


                Keep your friends close and your enemies closer

                Comment

                antalya escort
                Working...
                X