Baht predicted to gain a further 2.1% by end of year

[willhaz74]

the sump in the worlds exchange rate started round about 2007 by the passed its going to take 6 years to repair it self we have another 3 years aleast before we get anything close to the 60s and 70s bt to the pound,cannot not see any change aleast not till the end of next year,i no nothing of banking only know what i see from the passsed and it has alway been the same what go's up comes down,

[Al.]

From today's Nation

Baht at 13-year high

 

Published on October 4, 2010

 

 

The baht currency hit a 13-year high at Bt30.15 per US dollar early Monday.

 

Finance Minister Korn Chatikavanij said on Monday that the Bank of Thailand Governor, Prasarn Trairatvorakul will have to manage the rising baht with appropriate measures.

 

The Finance Ministry will meet with Commerce Ministry officials as well as the private sector to discuss the impacts of the rising baht on local exporters.

 

The Nation

 

 

[ExpatDave]

From today's Nation

Baht at 13-year high

 

Published on October 4, 2010

 

 

The baht currency hit a 13-year high at Bt30.15 per US dollar early Monday.

 

Finance Minister Korn Chatikavanij said on Monday that the Bank of Thailand Governor, Prasarn Trairatvorakul will have to manage the rising baht with appropriate measures.

 

The Finance Ministry will meet with Commerce Ministry officials as well as the private sector to discuss the impacts of the rising baht on local exporters.

 

The Nation

 

There really isn't a whole lot they can do. Until the Thai economy shows signs of weakening, the Baht will continue to climb.

[Al.]

There really isn't a whole lot they can do. Until the Thai economy shows signs of weakening, the Baht will continue to climb.

 

Just been watching BBC News the Thai Prime Minister was being interviewed he said Thai exports were up 30% on last year in the first 8 months of this year but profits were down due to the strength of the Baht.

 

Eventually the strong Baht will start to hit exports I suspect the exports were priced in dollars which would explain the high demand and at the same time lower profits.

 

 

He also said the government would only intervene to reduce volatility in the Baht, the rates are set by the markets.

 

I agree until the big money starts pouring out of Thailand the Baht will not weaken and that is unlikely to happen until interest rates and the stock markets in the west start to improve.

[leadpencil]

i am really sorry to say this but,

 

some of us who live here are making from this,i know its not nice to say but people who live here are making a killing from the low exchange rate,its not just me but others are doing the same.

 

my mate bought his condo when it was 73 baht to the £ sold it last week when its 47 baht to the £.His 5,000.000 baht then £68,000 is now worth a £107,000 as he said its not a bad return,hes lived rent free for 5 years and got a massive profit.

 

he HAS now gOt his money back and still haS enough to live rent free for years,i just sold my car for £2000 more than i paid for it because of the difference in exchange rateS.

 

it really dose hurt people who dont live here and i feel sorry for those guys but those of us that bought early are making money and raking it in,dont flame me for it,its a sad world at the moment.nobody wants to invest in the £ when UK interest rates are so low,save money in the UK but pay more for it here,you have to look at the big picture,the money you save on your mortgage in the UK each year etc,more to spend here even thou its a lower rate.

 

as they say its swings and rounabouts.

 

I think that there is no shame and nothing to feel sorry for about making money from the current situation. As you say, it is always swings and roundabouts and I think it wise to make money whilst you can. Who knows, it may be the opposite situation in six months or one years time.

 

 

I agree until the big money starts pouring out of Thailand the Baht will not weaken and that is unlikely to happen until interest rates and the stock markets in the west start to improve.

 

Yes and by the looks of things that situation is some way off yet.

[khagai]

Just been watching BBC News the Thai Prime Minister was being interviewed he said Thai exports were up 30% on last year in the first 8 months of this year but profits were down due to the strength of the Baht.

 

 

 

Just an article on how some of these pronouncements can be "politico speak" to help the government look good to the people. While the baht is strong, a lot of pronouncements on growth in both exports and GDP (of which exports is a part of)are somewhat misleading, especially when comparing quarter to quarter of prior year--2009 was a terrible year for Thailand in GDP, down precipetously from 2008 and the lowest in about 5 years. So growth in 2010 compared quarter to quarter in 2009, is very good. This is no explanation for growth of baht, which might be tied more strongly to strength of yen, but it is just enlightening to see what growth really is. See the following articles and look more closely on the web.

 

http://asiancorrespondent.com/bangkok-pundit-blog/thailand-s-gdp-statistics-game

 

http://www.indexmundi.com/g/g.aspx?c=th&v=66