jon46 Posted January 28, 2015 Report Share Posted January 28, 2015 (Bloomberg) -- The baht erased losses as the central bank kept the benchmark interest rate unchanged even after Singapore surprised markets earlier in the day by easing monetary policy. The currency traded unchanged from yesterday at 32.550 a dollar as of 4:28 p.m. in Bangkok, according to data compiled by Bloomberg. It was down as much as 0.3 percent at 32.651 before the rate announcement. Sixteen of 22 economists surveyed by Bloomberg had predicted the decision while the rest forecast a cut from 2 percent to 1.75 percent. Speculation mounted in early trade that Thailand would follow the Monetary Authority of Singapore in joining central banks around the world, including the European Central Bank, Canada, Denmark and India, in loosening policy amid slowing economic growth and deflation risks. “Some investors who sold the baht on speculation Thailand would follow MAS in a surprise easing probably bought back the currency after the rate decision,†said Kozo Hasegawa, a foreign-exchange trader at Sumitomo Mitsui Banking Corp. in Bangkok. Those that expected a cut probably closed those positions, he said. Bank of Thailand committee members agreed that monetary policy should remain accommodative to support an economic recovery, Mathee Supapongse, assistant governor at the central bank, said at media briefing in Bangkok Wednesday. The benchmark rate isn’t the major factor affecting capital flows and policy makers will use other measures to manage them, he said. Finance Minister Sommai Phasee last week said the monetary authority should “in theory†lower borrowing costs, and that exports are under pressure from a stronger baht. The currency climbed to 32.48 a dollar earlier Wednesday, the highest level since Oct. 31. Inflation Target The Bank of Thailand, which has kept its rate unchanged since cutting it in March, has lowered 2015 forecasts for economic growth and exports because the recovery is hampered by the weaker outlook for domestic consumption and global demand. Inflation eased to 0.6 percent in December from a year earlier, the least in Southeast Asia and the lowest since 2009. The risk of inflation breaching the lower end of the Bank of Thailand’s target range of 1 percent to 4 percent this year has increased, Supapongse said. Government bonds fell, with the yield on notes due in 2025 rising four basis points, or 0.04 percentage point, to 2.62 percent, according to data compiled by Bloomberg. Link to comment Share on other sites More sharing options...
YimSiam Posted January 29, 2015 Report Share Posted January 29, 2015 It would be helpful to my holiday plans if the baht could get back to the upper 30s by February 19th, reduce my booze costs a bit, but that seems not in the cards... Link to comment Share on other sites More sharing options...
jitagawn Posted January 30, 2015 Report Share Posted January 30, 2015 World wide currency wars... The Thai CB is supporting the Baht it seems given most other currency have weakened considerably against the $ which seems the best of a crooked bunch of fiat currencies. IMHO the dollar will eventually get taken to the whipping shed like the Swiss Franc... Link to comment Share on other sites More sharing options...
cavanami Posted January 30, 2015 Report Share Posted January 30, 2015 The Thai SET is now in the 1500's, A few weeks/months ago, it was in the 1200's. Usually the Baht follows the SET, SET up, Baht strong, foreign investment coming in to Thailand and vica versa. Link to comment Share on other sites More sharing options...
Flashermac Posted January 30, 2015 Report Share Posted January 30, 2015 US$ is 32.5 baht at the money changers today. Be nice if it at least stays there. Link to comment Share on other sites More sharing options...
cavanami Posted January 31, 2015 Report Share Posted January 31, 2015 http://bangkokbank.com/BangkokBankThai/Pages/homepage.aspx USD32.31 Link to comment Share on other sites More sharing options...
jon46 Posted February 1, 2015 Author Report Share Posted February 1, 2015 yes, on Friday, at ICBC in Chinatown, the exchange rate US $ at 32.50 baht. Just days before, I exchanged US $ along Silom Rd at 32.38 baht. Link to comment Share on other sites More sharing options...
Whitney Posted February 3, 2015 Report Share Posted February 3, 2015 It would be nice for a change if I could get more on the exchange rate when in Thailand. With the baht so strong against the dollar, and the crazy rising prices for girls and drinks, Thailand has been getting a lot less of my money. Link to comment Share on other sites More sharing options...
unit731 Posted April 5, 2015 Report Share Posted April 5, 2015 32.41 on computer today. But there is "buy" and "sell" and I don't have a clue how all impacts such. Link to comment Share on other sites More sharing options...
dean Posted April 5, 2015 Report Share Posted April 5, 2015 I arrive at BKK on May 20. If anyone wants to exchange their baht for dollars for the posted rate, I'll have $5,000 ready to exchange. Link to comment Share on other sites More sharing options...
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