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29th October 2006, 03:13
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#1 (permalink)
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Eric C
is.....
Eye of the Tiger
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Currency Exchange Rates Thread
The Thai Baht is among the currencies and commodities I keep an eye on and lately it's been on a rampage! Currently it's trading at THB 36.71 = USD $1. This is the highest it's been as far back as Google's chart goes. Have a look:
http://finance.google.com/finance?q=CURRENCY:THB
I'm wondering if any of you over there in LOS have any idea (or want to speculate) as to what's going on that it's gaining so much strength lately. Thanks in advance.
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29th October 2006, 05:43
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#2 (permalink)
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SageAndOnion
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Re: Thai Baht getting stronger.
Its deifinitely not the highest it's been against the pound and the pound is nearly 1.90 to the dollar at mid-market rates so I would think it is the weakness of the dollar rather than the strength of the baht.
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29th October 2006, 07:11
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#3 (permalink)
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Deaner
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Re: Thai Baht getting stronger.
Just be patient and wait for the Thais to get involved at making the baht stronger and in no time it will be floating at 44b to the dollar.
I hope - 
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29th October 2006, 08:28
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#4 (permalink)
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russellsimpson
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Re: Thai Baht getting stronger.
It's interesting because there are no sound reasons for this gaining of strenght.
I think two things:
1. The Baht is being set up for a big fall by major speculators...buying huge amounts of baht with the intention to dump at some mutually agreed point.
2. Chinese money buying baht...primarily because they are far more comfortable with a military dictatorship than democracy, and a good source of close natural resources.
I still say, keep you baht holdings to a minimum.
When it heads south I suspect the bottom will fall out overnight.
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29th October 2006, 10:25
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#5 (permalink)
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tomcat
is a perfectly content pussy, thank you
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Re: Thai Baht getting stronger.
According to the local papers, foreign money is flowing into the stock market here and that is causing the baht to rise. Some folks must think shares are under-valued.....Shincorp is certainly a buy these days.
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29th October 2006, 15:49
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#6 (permalink)
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aging one
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Space Cowboy
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Re: Thai Baht getting stronger.
It makes me happy as I am buying dollars about once a week. Russell is right.
Quote:
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Originally Posted by russellsimpson
I still say, keep you baht holdings to a minimum. When it heads south I suspect the bottom will fall out overnight
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A problem with the King, or one more military problem and boom!!
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Too long like a rolling stone, Too long in exile
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29th October 2006, 16:11
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#7 (permalink)
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laoshi
is cock, piss, partridge...
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Re: Thai Baht getting stronger.
The dollar has tanked. The interest rates have risen very rapidly this year to the current 5.25%. Yet the dollar rate has declined across the board. Barring the Yen. There is a hard landing coming and as they say, America sneezes and the rest of the world catches a cold.
So what I'm saying  is that it is dollar weakness. But that isn't going to change anytime soon. Expect to see 30 to the dollar in the near future... |
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29th October 2006, 16:21
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#8 (permalink)
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Umbuku
is blissfully practising
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Re: Thai Baht getting stronger.
Quote:
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Originally Posted by russellsimpson
1. The Baht is being set up for a big fall by major speculators...buying huge amounts of baht with the intention to dump at some mutually agreed point.
2. Chinese money buying baht...primarily because they are far more comfortable with a military dictatorship than democracy, and a good source of close natural resources.
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Taksin at work????
Possibly both if that is the case.
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30th October 2006, 11:07
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#9 (permalink)
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Sanuk Canuk
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Re: Thai Baht getting stronger.
I don't know that this is a case of the Thai Baht being strong, It is more likely a case of weakness in the currencies you are comparing to. The G8 countries have been building up debt and as long as they keep their interest rates low this will always lead to weakness in their currency. The Canadian dollar is at 30 year highs vs the US dollar these days.
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30th October 2006, 15:59
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#10 (permalink)
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aging one
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Space Cowboy
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Re: Thai Baht getting stronger.
Quote:
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Originally Posted by laoshi
Expect to see 30 to the dollar in the near future...
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Can you drop by a church and ask god to do that for me. Save me a lot of money when I go home with the kids in April.
__________________
Too long in Exile, too long not singing my song.
Too long like a rolling stone, Too long in exile
Too long in Exile, baby you just arent my friend.
Too long in Exile my friend, Baby you can never go home again.
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30th October 2006, 19:05
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#11 (permalink)
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Cyrille
is pushin broom
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Re: Thai Baht getting stronger.
Don't you dare - I earn a currency pegged to the dollar, travelling to Thailand in February.
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30th October 2006, 19:10
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#12 (permalink)
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russellsimpson
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Re: Thai Baht getting stronger.
What currencies aren't pegged to the US dollar Cyrille ?
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30th October 2006, 19:13
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#13 (permalink)
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SageAndOnion
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Overbearing and uncaring
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Re: Thai Baht getting stronger.
Sterling for starters
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30th October 2006, 19:17
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#14 (permalink)
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Cyrille
is pushin broom
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Re: Thai Baht getting stronger.
Yeah. Hope it is if labour get reelected. 
The pumelling it's giving the dollar isn't pretty. |
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30th October 2006, 19:34
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#15 (permalink)
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russellsimpson
is.....
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Re: Thai Baht getting stronger.
Sorry Cyrille...read your post incorrectly. 
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