elef Posted November 6, 2008 Report Share Posted November 6, 2008 Soon we'll have the next step in the recession. As the real economy (companies and individuals) is going down as an effect of the crisis in the financial sector with unemployment and bankruptcies as effects it will hit the banks. Heavy losses will follow this time costing 20,000 - 30,000 billions just in the US. Link to comment Share on other sites More sharing options...
jon46 Posted November 14, 2008 Report Share Posted November 14, 2008 With the first Asian crisis in 1997, the baht reached an all time low of 50 something to the dollar in January 1998 but stablized in the 42 level for quite a few years before the dollar took a tumble. Nowaday, the economic crisis (housing, sub-prime mortgages) in the US has resulted in the appreciation of the US dollar. Go figure! Link to comment Share on other sites More sharing options...
drogon Posted November 14, 2008 Report Share Posted November 14, 2008 $ = Refuge currency like the Yen. Euro not considered yet as such. This said, the dollar might continue to appreciate against other currencies for some more time but the day when other countries will take the carpet under the feet of the US economy is coming... Yes, this is not really rational seeing the US economy go in shambles (at a rate far more critical than the UK or EU zone) but in time of crisis the $ has always been a refuge currency. This said, if the US economy continues to crumble at its current speed it could mean something else soon for the $... $ strong also because many countries still have too much reserves of $ (example: China) add to that the Fed rate going lower for months but all this has a price -> debt and inflation for the US. Also a factor which is unknown but showing its ugly head -> the consequence of a stronger $ on the US exportations. US = economy relying on exportations and services -> just saw some numbers today from some companies in my sector (IT) which suffer terribly from a stronger USD. Also, I noticed that US exportations took a huge hit. Where does it lead for the US? A serious work to reconsider the structure of their economy, hope it will not be too hard for the US though, despite all the crap I like the country. Link to comment Share on other sites More sharing options...
Sporty Posted December 1, 2008 Report Share Posted December 1, 2008 Live rates at 2008.12.01 12:29:44 UTC Notice: The THB rate shown below is the international rate. Rates used within Thailand may vary. 1.00 USD = 35.7812 THB United States Dollars Thailand Baht 1 USD = 35.7812 THB 1 THB = 0.0279476 USD Lots more to go... Link to comment Share on other sites More sharing options...
FarangFatal Posted December 1, 2008 Report Share Posted December 1, 2008 the USD will again pull ahead. I remember well when the USD feched more than the Euro! I prediect that the USD will hit 36.5 in 7 days and keep at that rate seeing a good solid and sustaining 39 for Farang new year! I did like 41.5! We'll get there and that is when I'll move a wheel barrel full into Thailand. All this political miss will end soon as the U.S. housing market (although unrelated) recovers and the Yanks will again be Sultans of the Soi! Link to comment Share on other sites More sharing options...
cavanami Posted December 1, 2008 Report Share Posted December 1, 2008 Errrrr, I'm not holding my breath for the USD to get much higher against the Baht, maybe into the 36's The USD is now weaker against the Yen USD to JPY 93.97 ¥ Stronger against the Euro? USD to EUR 0.7916 � Move a pile to LOS? maybe a small pile, as the banks do not have the FDIC insurance as is in the USA, so some risk there, plus very low interest rates for farangs, so it will be "dead" money sitting in the Thai bank. Link to comment Share on other sites More sharing options...
HeartThais Posted December 1, 2008 Report Share Posted December 1, 2008 the USD will again pull ahead. All this political miss will end soon as the U.S. housing market (although unrelated) recovers and the Yanks will again be Sultans of the Soi! I agree with you that USD is best currency bet at the moment. But if the housing market turns around, it will actually be bad for the USD, IMO. The USD (also yen) rallies are caused by uncertainty and pessimism. Good news is bad for the dollar. Link to comment Share on other sites More sharing options...
FarangFatal Posted December 1, 2008 Report Share Posted December 1, 2008 Remember in the early part of this decade people would change money into USD's at home because they'd get more at the cambios! I'll never forget some German guys at the Thai Bank cambio on beach road in Patong calculating that they would have gotton 15% more baht by changing D-Marks for USD's at home. You are lucky, you have dollars they said! Yep, even the girls want US money as it will go up again soon! Link to comment Share on other sites More sharing options...
gene1944 Posted December 2, 2008 Report Share Posted December 2, 2008 THB sinks to over 36 baht to the USD. See the max price at bottom. FXConverter Results - Currency Converter for 164 Currencies Tuesday, December 2, 2008 1 US Dollar = 35.82523 Thai Baht 1 Thai Baht (THB) = 0.02791 US Dollar (USD) Interbank rate +/- 0% This means: You buy 1 US Dollar : 35.82523 Thai Baht You sell 1 US Dollar : 35.32523 Thai Baht You buy 1 Thai Baht : 0.02791 US Dollar You sell 1 Thai Baht : 0.02831 US Dollar Median price = 35.32523 / 35.82523 (bid/ask) Minimum price = 35.12500 / 35.62500 Maximum price = 35.52000 / 36.02000 Link to comment Share on other sites More sharing options...
drogon Posted December 2, 2008 Report Share Posted December 2, 2008 Will it last? With the official anouncement that USA economy is in recession since December 2007? could last because the USD has always been a refuge currency -> but for how long? Link to comment Share on other sites More sharing options...
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