Faustian Posted November 17, 2008 Report Share Posted November 17, 2008 51.6 baht to the pound....arghhh! HT moving your pounds to the Dollar now is surely too late? The Dollar isn't going to appreciate against the Baht that much more surely? Link to comment Share on other sites More sharing options...
Mekong Posted November 17, 2008 Report Share Posted November 17, 2008 51.6 baht to the pound....arghhh! HT moving your pounds to the Dollar now is surely too late? The Dollar isn't going to appreciate against the Baht that much more surely? Couldn't agree more, December 2006 when it was close to 2:1 USD v GBP was the time to buy USD which is exactly what I did. Link to comment Share on other sites More sharing options...
HeartThais Posted November 17, 2008 Author Report Share Posted November 17, 2008 51.6 baht to the pound....arghhh! HT moving your pounds to the Dollar now is surely too late? The Dollar isn't going to appreciate against the Baht that much more surely? I dunno. It seems like Thai exporters are pressuring BOT to intervene to depreciate Baht and the BOT's reply has been that it will let it depreciate all on its own. So I think it might hit 36. What I'm concerned about is continued weakness of sterling vs. USD. Bahh!! It's all a guess but I see more downside than upside. At this point, I am happy to get 1.5. Link to comment Share on other sites More sharing options...
.. Posted November 18, 2008 Report Share Posted November 18, 2008 "BOT's reply has been that it will let it depreciate all on its own." 55555555555555 What bollocks. They must be spending millions after millions propping it up. There is no way in hell that the baht is holding its own, what with the fucked up political situation and shitty basic economy here in general. The baht should be at 42ish if it were really being traded honestly. Cheers, SD Link to comment Share on other sites More sharing options...
CTO Posted November 18, 2008 Report Share Posted November 18, 2008 Why do it though? Link to comment Share on other sites More sharing options...
.. Posted November 18, 2008 Report Share Posted November 18, 2008 I do not have any idea. Maybe someone influential wants it that way? It makes no sense, but you must agree that the baht holding its own legitimately against the US$ with the Oz$, â?¬, and Sterling crashing is just silly. Cheers, SD Link to comment Share on other sites More sharing options...
Faustian Posted November 18, 2008 Report Share Posted November 18, 2008 52.6 baht to the pound...up a fair bit in one day, but I'm not moving a penny over until it's back in the 60's plus... I'm praying for 65-70 baht...but that may be months off. The UK economy is fucked for the next year at least. Huge job losses occurring daily there at the moment...although inflation fell a little. Link to comment Share on other sites More sharing options...
The_Munchmaster Posted November 18, 2008 Report Share Posted November 18, 2008 ...I'm praying for 65-70 baht...but that may be months off.... Probably a lot longer than that. Link to comment Share on other sites More sharing options...
drogon Posted November 18, 2008 Report Share Posted November 18, 2008 UK economy will probably recover but I don't see it doing so before 2 years at a minimum (and provided there are no other disasters) Link to comment Share on other sites More sharing options...
HeartThais Posted November 18, 2008 Author Report Share Posted November 18, 2008 I do not have any idea. Maybe someone influential wants it that way? It makes no sense, but you must agree that the baht holding its own legitimately against the US$ with the Oz$, â?¬, and Sterling crashing is just silly. I don't think Thailand is directly affected by falling commodity prices and the collapse of the credit bubble in the same way these other countries are. IMO, Thailand has run its financial affairs relatively prudently in recent years (if not their political). They've been careful not to overextend with foreign credit. They were heavily criticized at the time for stifling growth with moves like their URR but it now seems like they made some good moves. But I do think Thailand is going to be hit hard. As far as I know Thailand's main industries are auto, financial, and tourism, all likely to be hit. According to The Economist "Assuming that the government succeeds in increasing its influence over the Bank of Thailand (BOT, the central bank) following recent appointments to the bankâ??s board, the BOT is likely to adopt a less hawkish stance [on inflation]." So Thailand is likely to start relaxing their interest rates and we should see more depreciation of Baht vs. USD. My guess is that sterling will still drop faster than Baht. Link to comment Share on other sites More sharing options...
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