Strong baht continues

[News Bandit]

Thai baht today maintains its strength against US dollar and Japanese yen.

 

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[Tmoney]

Thai baht today maintains its strength against US dollar and Japanese yen.

 

View the full article

I'm staying optimistic!  I've been putting more of my hard earned dollar into my Thai bank account.  I hope it all works out for me in the end...

[oneday]

What a totally useless story in The Nation.  Tell us something we don't know like "what the likely trend is", "when we might expect it to reverse, if ever".

 

I was bringing my money over relatively quickly until this recent downturn.  Now I'm on hold.  I also stopped house hunting.

[Lok Jit]

It appears you would have been better off putting your currency into a Thai bank changed to baht versus buying gold...

[jocky king]

The bubble of the baht has to burst sometime.. It will come. What goes up must come down. It was still going up since 2009.

[LRanger]

THB seems to be charging ahead against pretty much all the major currencies.  Must be a heap of money pouring into the country....its those damn sponsors again.

[tropicaloz]

THB seems to be charging ahead against pretty much all the major currencies.  Must be a heap of money pouring into the country....its those damn sponsors again.

 

55555, Good one,

[abbottg]

THB seems to be charging ahead against pretty much all the major currencies.  Must be a heap of money pouring into the country....its those damn sponsors again.

That's what's happening. The strong baht will kill their export business though,  which is 80% of their economy. They will have to take action to weaken the baht then.

[ringadingding]

Yes. Aussie dollar is getting a beating and went down to 29.46 which means loss of 2 baht per dollar as compared to Dec-12. I was planning a jolly good time in June and July, but seems like I $10,000 may not last that long as I expected.

[PadTheLad]

I have been planning to sell one of my apartments in England, convert the profit to Thai baht, and then buy a new condo in Pattaya for me and my Thai lady.   The 10% fall in the value of GBP against THB, coupled with dire state of the UK housing market, has thrown my plans into disarray.  

[Billyboy294]

At Bank in Tukcom at 5.00pm 43.17 to £ for cash. Lowest i have seen this year.

[The Sly Fox]

Yes. Aussie dollar is getting a beating and went down to 29.46 which means loss of 2 baht per dollar as compared to Dec-12. I was planning a jolly good time in June and July, but seems like I $10,000 may not last that long as I expected.

Right, it was close to 31 Bt just over a week ago, now closer to 29. But it goes up & down, could be back up again in June/July.

[sinbad5]

^ or down.

[Jake74]

Right, it was close to 31 Bt just over a week ago, now closer to 29. But it goes up & down, could be back up again in June/July.

 

You aussie-guys really should not complain about exchange rate, you dollar is doing very fine, VERY FINE.

 

http://finance.yahoo.com/q/bc?s=AUDTHB=X&t=5y&l=on&z=m&q=l&c=

 

http://finance.yahoo.com/q/bc?s=usdTHB=X&t=5y&l=on&z=m&q=l&c=

 

http://finance.yahoo.com/q/bc?s=eurTHB=X&t=5y&l=on&z=m&q=l&c=

 

http://finance.yahoo.com/q/bc?s=gbpTHB=X&t=5y&l=on&z=m&q=l&c=

[The Sly Fox]

You aussie-guys really should not complain about exchange rate, you dollar is doing very fine, VERY FINE.

 

http://finance.yahoo.com/q/bc?s=AUDTHB=X&t=5y&l=on&z=m&q=l&c=

 

http://finance.yahoo.com/q/bc?s=usdTHB=X&t=5y&l=on&z=m&q=l&c=

 

http://finance.yahoo.com/q/bc?s=eurTHB=X&t=5y&l=on&z=m&q=l&c=

 

http://finance.yahoo.com/q/bc?s=gbpTHB=X&t=5y&l=on&z=m&q=l&c=

True Jake, but I want it to do finer. I just hope this recent slip is a minor hic-cup and it goes back up. Anything over 30 is just dandy with me.

[Cicatrix]

Be assured that the Thai government is concerned about it's recent baht strength because, as pointed out above, exports account for the majority of the economy.  They are also aware of the reduction in tourism as people reduce the length or frequency of their stays here and seek alternative holiday locales.  Don't think that the availability of easy P4P is the only attraction of Thailand, nor is it limited to Thailand.

 

When I emigrated here in 2007 the USD exchanged for an average of about 40 THB/USD.  That was a major factor in my decision, being on a disability income which would scarcely afford a subsistence level of life.  It rose or fell by a baht or two for a while and then began a steady decline to the recent 29.  That's a loss of more than 25% which REALLY hurts!  Still I can afford a much better life here than I would there even given the fact that I have to employ a staff which monthly costs more than my monthly rental of a small 2 BR house due to the amputation of my legs since 2010.  In fact I could no longer live there  at all without relying on the support of family and I have no children.

 

There has been some recent discussion in the government of devaluation of the baht though even it it does come to pass it would likely not amount to much.  Even Japan has considered devaluation of the Yen for similar reasons; exports from Korea and the now imminent surge from China have and will cut heavily Into Japan's economy.

 

Our best hope is for a resurgence in the strength of Western economies, a distinct possibility.  We've probably seen the "salad days" of our purchase power here but it may not be as bleak in the future as some seem to feel.

[The Sly Fox]

Be assured that the Thai government is concerned about it's recent baht strength because, as pointed out above, exports account for the majority of the economy.  They are also aware of the reduction in tourism as people reduce the length or frequency of their stays here and seek alternative holiday locales.  Don't think that the availability of easy P4P is the only attraction of Thailand, nor is it limited to Thailand.

 

When I emigrated here in 2007 the USD exchanged for an average of about 40 THB/USD.  That was a major factor in my decision, being on a disability income which would scarcely afford a subsistence level of life.  It rose or fell by a baht or two for a while and then began a steady decline to the recent 29.  That's a loss of more than 25% which REALLY hurts!  Still I can afford a much better life here than I would there even given the fact that I have to employ a staff which monthly costs more than my monthly rental of a small 2 BR house due to the amputation of my legs since 2010.  In fact I could no longer live there  at all without relying on the support of family and I have no children.

 

There has been some recent discussion in the government of devaluation of the baht though even it it does come to pass it would likely not amount to much.  Even Japan has considered devaluation of the Yen for similar reasons; exports from Korea and the now imminent surge from China have and will cut heavily Into Japan's economy.

 

Our best hope is for a resurgence in the strength of Western economies, a distinct possibility.  We've probably seen the "salad days" of our purchase power here but it may not be as bleak in the future as some seem to feel.

I like your choice of the word "emigrated"

Makes a really refreshing change from all these farang who keep on saying they are "guests" in the country.

[Cicatrix]

Oh sly and foxy one thank you.  I DID emigrate and expect to live out my remaining life here though those among us who have not actually obtained Thai citizenship are in a sense "guests" and are subject to deportation if in violation of certain laws.  I keep that in mind at all times but yes, I AM an "emigrant" as I gather you are as well!

[Davothefirst]

WTF !

 

holy shit !!!!!

 

time for the pound to make a comeback

 

me now drinking on Coconut bar !!!! WTF !

[jinkee]

This will get worse before it gets bettar i saw an article that forecast it would be 38baht=£1 by may/june so thats Pattay for the time being up the fkng creek for me too fkng expensive now to change yer fkng money   

[THAJEC]

It's a bad time, when the baht strengthens and in combination with "Thai inflation thinking" and adjust prices upward direction is increasingly sadder story.
I do not want to call anything wrong, but just help decrease the economic problem of Thailand in relation to the smaller number of visitors and some unexpected event that will contribute to this.

[Cicatrix]

THAJEC I sympathize with your concern for the welfare of Thailand but at the present it is at an all time high economically and hardly in need of any further strengthening of the value of the THB.  In my experience, though scarcely trained in economics, when a currency surges in value against other global currencies there are many factors involved the MAJOR one being introduction of a new and unique technology, product, or material source unavailable elsewhere or the far less expensive production of those items.

 

When did pussy become unique and unobtainable elsewhere??  And as for less expensive take a look at the rising asking prices here and the prices in South America, Eastern Europe, Mexico, Philippines ... well you get my drift.  Brazil "termas", Argentine escorts, Costa Rica and Mexican brothels/out-calls, the Flips. Even in NYC I had the pleasure of an out-call blond  Brit chick at my hotel (when the company picked up the hotel cost for a short turn-around shift) with really cute \face, fantastic tits and ass and the BEST deep throat never spilling a drop for $100 about 12 years ago! Some of the best in-car BJs were $20 when cruising and I quickly found a few favorites. Do these prices of not so long ago resemble what we are seeing here today?  And in NYC!  Hardly the least expensive venue to live in and with a damn sight fewer available "sisterhood" in competition.

 

The simple fact regarding technology which is the largest factor in determining export values apart from rare minerals is that THAILAND IS NOT AN INNOVATOR!  In fact foreign nations establish production plants here due to the relatively low labor costs for unskilled/semi-skilled labor and as the minimum wage rises and the baht rises unrealistically those plants will begin to close unless the Thai government acts to control baht inflation.

[marc7337]

Whats with the lines through the words.

[McFly]

It looks like I'll have to convert my USD to Bitcoins, wait a day, then convert to THB. 

[The Sly Fox]

Right, it was close to 31 Bt just over a week ago, now closer to 29. But it goes up & down, could be back up again in June/July.

Back up over 30 today.