Baht weakest in 4 months

[Pattaya Daily News]

BANGKOK, 15 May 2012 - The baht has made a new record low in four months following the euro’s depreciation while domestic gold price has dipped to the lowest level in ten months.

After the currency future opened today, the baht decreased by five satang against the US dollar to stand between 31.37-31.39 baht against the dollar. The baht continued to weaken to 31.40 baht against the dollar at 9.30 AM, the lowest value in four months since January, before moving in a narrow range.

The Thai baht depreciated in the same direction as other regional currencies, mainly due to the weakening of the euro after the market learned about Greece’s debt. According to analysts in the financial market, the baht is likely to continue to depreciate but it might not slide below 31.40 baht against the US dollar.

At the same time, gold price was also lowest in ten months. Bullion was sold at 23,150 baht per troy ounce today and gold ornament at 23,550 baht per troy ounce, lower than yesterday’s price by 100 baht per troy ounce. Gold price in the country has been dropping following a continuous price decrease in the global market.

Report by : NNT

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Type : Business News

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[Lok Jit]

I consider this to be good news especially for X patts and tourism~~~

[999Baht]

This is great news for the holiday and expats alike BUT ummmm isn't there something a little "not allowed" on the forums in the picture?

[redfred]

This is great news for the holiday and expats alike BUT ummmm isn't there something a little "not allowed" on the forums in the picture?

I have seen it also

[THAJEC]

Yes. Bath is weakest in 4 months, but my national currency too. Result is which means that zero for me.I am at a disadvantage that I have to change money to euro or us dollars every time unfortunately.

Edited May 16, 2012 by THAJEC

[Soi Six Snatch Sniffer]

I have seen it also

cant for the life of me see what isnt allowed, please enlighten me.

[Sticky Fingers]

Mainly a USD story.

[THAJEC]

cant for the life of me see what isnt allowed, please enlighten me.

He mean photos of King on thai notes. It is easy

[Soi Six Snatch Sniffer]

He mean photos of King on thai notes. It is easy

didnt realize we were not allowed to post photos of the king,

[999Baht]

didnt realize we were not allowed to post photos of the king,

No talk of anyone in the family at all either.

Hence I was a little vague in my original comment sorry.

I believe it's actually rule number 1

[Luv2Phuket]

I've been following the USD's rise vs the baht over recent weeks, and it got me wondering: in travel "low season," does the baht typically drop vs other currencies to encourage more tourism?

I know that it could be fairly easily checked through historical charts, but I'm too lazy to do that!

 

I also think the article overstates it a little bit -- yes, the USD hit a 4 month high vs the baht, but I'm 90% sure it has been below 30 baht/USD, so the range remains pretty tight. I'm sure it will correct and drop back below 30 baht/USD right about the time my trip rolls around....

[Ohyesuare]

A lot of the major currencies dropped with it so its actually a worse exchange rate for some people now.

[Soi Six Snatch Sniffer]

No talk of anyone in the family at all either.

Hence I was a little vague in my original comment sorry.

I believe it's actually rule number 1

ok, well i have only been on here 4 years, i cant be expected to have read the rules yet can i