54Baht to the Pound

[HappyGuy99]

I see on the inter bank rate today 20 May 2009

54Baht to the pound;

Are we going to see 60baht to the pound by September?

[blackcats]

I see on the inter bank rate today 20 May 2009

54Baht to the pound;

Are we going to see 60baht to the pound by September?

we can only hope it keeps going up roll on october 65baht would be good

[fattie]

Baht is ped to the dollar and goldman just said pound is a buy,they see the pound rising 15% to 23% against dollar by end of year.

[Chris50]

Still 52.932 on krung thai bank

chris

[praf974]

i think the baht could devalue 50% against the pound over the next 18months / 2 years (to 70+) because :

 

1. USD is finally dropping against the pound

2. BOT will at some point have to loosen its peg against the dollar as other asian currencies devalue to boost exports.

3. The economic crisis has been slow to reach Asia and the full effects havnt been seen yet outside of Japan

4. Tourism and Exports will continue to decline globally for a while, forcing some action by countries relying on these.

 

The baht is prone to sudden swings because of the BOT holding it pegged artificially, when it is allowed to move it moves fast!

[gogo dog]

i think the baht could devalue 50% against the pound over the next 18months / 2 years (to 70+) because :

 

1. USD is finally dropping against the pound

2. BOT will at some point have to loosen its peg against the dollar as other asian currencies devalue to boost exports.

3. The economic crisis has been slow to reach Asia and the full effects havnt been seen yet outside of Japan

4. Tourism and Exports will continue to decline globally for a while, forcing some action by countries relying on these.

 

The baht is prone to sudden swings because of the BOT holding it pegged artificially, when it is allowed to move it moves fast!

Although I know nothing about economics/FX, I think there is a lot of truth in what you are saying. I get the impression the Baht is propped up artificially and the Thais are in denial that there is a global recession on. I suspect there may be a bit of a correction on its way.

[HappyGuy99]

Thursday 21st May

 

Today Interbank rate, 54,297

 

Keep on going, I want 60+ for September:

[gogo dog]

Thursday 21st May

 

Today Interbank rate, 54,297

 

Keep on going, I want 60+ for September:

You will not get this rate if you change cash. The current rate for Bangkok Bank is B52.88 see http://www.bangkokbank.com/Bangkok+Bank/Pe...tes/default.htm

[Kandinski]

Kasikorn buys pound at 53.03