Found this on Phuket Insider. Anyone think it will get back to 35 baht/dollar (as was the case in 2008) by end of year?
Standard Chartered Bangkok Thailand is forecasting the appreciation of the US dollar against the Thai baht up to THB32.5 in the first quarter of 2012.
Financial uncertainty in the Eurozone have been cited as a critical factor.Domestically Thailand looks set to take a heavy hit in 2012 with the negative impact to GDP from the flooding and ensuing damage to industrial output.In an economy heavily leveraged on exports, the outlook for the sector remains cloudy.Another pressure point looks to be the tightening of bank debt by local banks which would substantially impair the property and hospitality sectors.
"Thailand is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side." - HST
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Yeah, saw that last week; good for those of us, whose money comes from an American credit union or bank.
Frederick Douglass: Find out just what any people will quietly submit to
and you have found out the exact measure of injustice
and wrong which will be imposed upon them, and these
will continue till they are resisted with either
words or blows, or with both.
Aleksandr Solzhenitsyn;
“Don’t believe them, don’t fear them, don’t ask
anything of them.”
...then there's the creative accounting move by the cabinet this week: shifting over a trillion THB (leftover from the 1997 financial crisis debt) on which the government must pay billions in interest to creditors...to the central bank, which must now pay the billions in interest without printing money. The cabinet is now free to use even more billions to reward Thaksin business cronies currently bidding on mega-projects...that suspect move by itself would be enough to weaken confidence in the baht...
Last edited by tomcat; 6th January 2012 at 05:48.
...majestically enthroned amid the vulgar herd...
It really hasn't fluctuated much.
It seems to me.
Over six years anyway.
“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.”
―
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Russel's right. relative to most currencies it's been pretty stable.
For some perspective...
three years back the loonie was 1.26 against the greenback.
Now it's .97
That's twenty percent.
I've never seen anything close in Thailand.
And look at the Australian dollar.
You have to go back to 2006 for same 20%. I'm moving over in October, so I don't expect much change to occur.Originally Posted by russellsimpson
It seems like the Thai central banking authorities have a pretty good handle on the appropriate exchange rate.
I wasn't there during the "crash". Folks tell me it went to 60 cents to the baht.
.................
They got a good bite in the ass. I don't they will be going down that road again any time soon.
The currency seems pretty damned stable IMO.
---Update---
Pretty safe bet.
That's ridiculous Russ; I've lost 25% of my income since 2004. Of course I'm a rich farang, so it doesn't matter...
...I arrived here in 2003 when the baht was just under 40 to the US dollar...it strengthened to just under 30 to the dollar in 2010...that's a 25% swing...not much to the Oracle of the Deepfreeze perhaps, but, like THX, it certainly got my attention...the baht at 32.5 gives me another 6K or so of local income: I'll take it...
2003 - 43 Baht to the dollarIt really hasn't fluctuated much.
2012 - 30 baht to the dollar
You do the math.
If I remember correctly it stayed pretty steady in the past 6 years. One thing that gained strength is Yen. I would really like to take another vacation to Japan, but no way at these exchange rates.
Which is all I was saying.
2006 is when I took notice...
Since then pretty constant...
...whatever the case..it's still a hell of a lot cheaper to live there, level wise, as it is now in North America.
Only very few items here competitive with Thai prices.
Food, medical supplies...enough to give a guy a heart attack.
What's the prediction by year end? 32? 35?...
Maybe 35 if Euro goes downhill.
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