A_J Posted April 18, 2010 Report Share Posted April 18, 2010 i thought by now the baht would of risen to around 80, so why is it still so strong?. Im holding out on changing my sterling, maybe we will see a change tomorrow now songkran is over, anyone got any ideas or is it because thailand borrowed from the imf...? Link to comment Share on other sites More sharing options...
Guest Posted April 18, 2010 Report Share Posted April 18, 2010 I feel your pain, man...why indeed? The quick answer is, it's because they've been artificially propping it up for fucking EVER...though I totally agree, with all the turmoil lately, it should damn well be pushing at least 40 to the dollar... Link to comment Share on other sites More sharing options...
Julian2 Posted April 18, 2010 Report Share Posted April 18, 2010 I don't think that there's much artificial about the strength of the Thai Baht. It's all about balance of payments, they sell (export) more than they buy (import) so their foreign currency reserves are always high. Link to comment Share on other sites More sharing options...
gobbledonk Posted April 18, 2010 Report Share Posted April 18, 2010 As much as I agree with the general sentiment here, I dont think any of us want to return to the nightmare days of the currency crisis, particularly at a time when speculators are so heavily in the crosshairs in the West. The willingness to capitalise on political instability in someone else's country purely for the purpose of making a quick buck should get you 5 years in jail, IMO - I'm sure the traders at Goldman Sachs could tell us more about profiting from the misery of others. Link to comment Share on other sites More sharing options...
Julian2 Posted April 18, 2010 Report Share Posted April 18, 2010 Possibly has something to do with such a large amount of USD currently living in China as well. Link to comment Share on other sites More sharing options...
doxx Posted April 19, 2010 Report Share Posted April 19, 2010 I'd say it's strong for the very same reason it was strong before the 1997 Asian crisis. Link to comment Share on other sites More sharing options...
Coss Posted April 19, 2010 Report Share Posted April 19, 2010 Interesting, very interesting... Link to comment Share on other sites More sharing options...
Old Hippie Posted April 19, 2010 Report Share Posted April 19, 2010 I'd say it's strong for the very same reason it was strong before the 1997 Asian crisis. And that would be because...? Link to comment Share on other sites More sharing options...
allistar Posted April 19, 2010 Report Share Posted April 19, 2010 I thought that the baht was strong pre 1997 because it was pegged to the dollar 30-1? Link to comment Share on other sites More sharing options...
Nervous God Posted April 19, 2010 Report Share Posted April 19, 2010 24 Link to comment Share on other sites More sharing options...
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