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    • 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


                  • The week ending August 14th, 2020 the Thai Baht was being exchanged at 30.63 baht to every 1 US dollar.


                  • Baht expected to move in line with Asian currencies

                  The baht opened at 31.18 to the US dollar on Monday morning (August 10), unchanged from Friday’s close of 31.17.

                  The Thai currency is expected to move between 31 to 31.50 this week and between 31.08 and 31.28 on Monday, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.

                  The strategist said that the US economy is starting to recover, as seen in the employment numbers announced last week. The dollar index would move between 92 and 95 points, while currently it was 93.5.

                  Concerns about Thailand's political situation has led to sales of the baht. This week, the strategist added that the baht would move in line with other Asian currencies and the dollar.

                  He added that if the US stock market can reach a new high, Asian currencies, including the baht, would recover.

                  This week was the last period for registered companies around the world to announce their turnover in the second quarter. The turnovers announced previously were better than investors’ expectations, encouraging the financial market to be risk-on continually.

                  Moreover, the US Ten-Year Treasury yield increased from the lowest point of 0.50 per cent at the beginning of this year to 0.56 per cent, while Thailand's rose from 1.16 per cent to 1.22 per cent. The strategist pointed out that investors had a positive view of the economic cycle, and had started to dispose of some of the safe-haven assets.

                  This week, the strategist advised investors to monitor the US economic stimulus, and its economic discussions with China on August 15.: https://www.nationthailand.com/news/...ernal_referral
                  Keep your friends close and your enemies closer

                  Comment


                  • You forgot to quote your friend Boon Me.
                    Dont get sick of me just yet, for I will be here for quite a while

                    Comment


                    • The week ending August 21st, 2020 the Thai Baht was being exchanged at 31.05 baht to every 1 US dollar.

                      • Lenders able to deal with virus impact: Bank of Thailand

                      Thailand’s commercial banks are financially sound and are able to withstand any economic impact from the pandemic, Bank of Thailand (BoT) Deputy Governor Ronadol Numnonda said in a statement Sunday.

                      The banking system’s capital fund is strong with an adequacy ratio, or BIS ratio, at the “high level” of 19.2% by the end of June. Lenders are profitable and have excess liquidity, he said, in response to a report citing an economist’s comments that Thai banks are facing problems.

                      The central bank asked financial institutions to run stress tests and the results showed all the lenders possess sufficient capital to cope with a “severe crisis.” There are also both fiscal and monetary policies in place to help the economy, according to Mr Ronadol.

                      The BoT is working with lenders to restructure debt and ensure borrowers can service their obligations, he said. This will help the financial institutions manage loan quality and prevent an increase in bad loans, according to the central bank.: https://www.bangkokpost.com/business...nk-of-thailand

                      Keep your friends close and your enemies closer

                      Comment


                        • The week ending August 28th, 2020 the Thai Baht was being exchanged at 30.72 baht to every 1 US dollar.
                        • Central bank issues debt relief measure to slash Thais’ interest burden

                        The Bank of Thailand on Thursday issued a new debt relief measure aimed at reducing Thais’ interest rate burden from 16-25 per cent to 5.5-8.8 per cent.

                        The debt consolidation measure will allow borrowers to bundle their credit card, personal and mortgage loans into one sum, Thanyanit Niyomkarn, assistant central bank governor said on Thursday (August 27).

                        Borrowers can then utilise collateral in their mortgage loans to restructure their debt total with financial institutions.

                        Borrowers usually pay between 16 and 25 per cent for personal loans, but the new debt restructuring measure will cut this to the minimum retail rate (MRR) of 5.75 to 8.8 per cent, she said.

                        Debtors will be also allowed to extend their debt payment period, said Thanyanit.

                        The measure is free of charge and will not damage their credit rating, she assured.

                        The move comes after the central bank, financial institutions and state-run banks shared concerns about economic recovery amid the Covid-19 fallout. Many businesses are yet to resume normal operations, hitting workers’ income, Thanyanit noted.

                        Retail borrowers can apply for the debt relief measure via banks from September 1 this year to December 31, 2021.: https://www.nationthailand.com/busin...ernal_referral
                        Keep your friends close and your enemies closer

                        Comment


                        • Early update, because of the news below.
                          • At the end of the day today (August 31, 2020) the Thai baht was trading at 30.68 baht to every 1 US dollar.

                          • Baht at crossroads as economy seen bottoming out this year

                          The baht could be at a turning point. It’s the second-worst performing currency in Asia this year, but expectations that the economy may bottom out over the next few months is spurring some bullish bets.

                          The baht lost ground as Thailand’s tourism-dependent economy was hit hard by travel restrictions to control the coronavirus spread. It’s down almost 4% against the dollar this year, just behind the Indonesian rupiah, although it’s showing signs of revival with gains of 0.5% in August.

                          Some analysts are turning bullish after Finance Minister Predee Daochai said last week the economy will likely bottom out in the second half of the year and rebound in 2021. Current account data this week could also be supportive as it’s forecast to post a surplus of $1 billion in July from a deficit of $247 million in the previous month.

                          “Over a thee-month horizon, we think it will outperform its Asian peers,” says Divya Devesh, head of Asean & South-Asia FX research at Standard Chartered Bank SG Ltd in Singapore. He sees the nation’s status as a major gold exporter and positive real yields attracting inflows.

                          The baht’s misfortune is a dramatic swing from last year, when it was the region’s best performer with an 8.6% gain. While the economic recovery prospects bode well for the currency, the Bank of Thailand has indicated in its latest meeting minutes that that it will act if needed to prevent a rapid appreciation.

                          The baht also remains vulnerable to outflows. The Government Pension Fund, a 1 trillion baht asset manager, plans to boost its overseas investments citing limited options in domestic equities.

                          Technically, the baht remains in consolidation mode as the duelling forces battle it out. The currency pair’s 100 day moving average continues to cap any rally against the dollar, while support under 31.00 is limiting any downside movement.: https://www.bangkokpost.com/business...erbox#cxrecs_s


                          Keep your friends close and your enemies closer

                          Comment


                          • The week ending September 3rd, 2020 the Thai Baht was being exchanged at 30.89 baht to every 1 US dollar. September 4th was a holiday.


                            Keep your friends close and your enemies closer

                            Comment


                            • At this weeks opening (starting September 8, 2020) the Thai baht is being exchanged at 30.91 baht to every 1 US dollar.


                              Keep your friends close and your enemies closer

                              Comment


                              • The week ending September 11th, 2020 the Thai Baht was being exchanged at 30.83 baht to every 1 US dollar.



                                Keep your friends close and your enemies closer

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