gene1944 Posted March 28, 2002 Report Share Posted March 28, 2002 Any articles recently on the direction of the baht? I want to move $$ to thailand and looking for any comments re the short term direction of the baht. Thx. Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2002 Report Share Posted March 28, 2002 Oh, when I knew for sure, i could make shitloads of money! But the exchange rate is highly influenced by the direction of both economies and the trade between the countries. The prospects for a rebounce of the USA economy on this moment are more likely as the Thai economy. In the short term this will be in favour of the US$. On the long term we will see the big impact of the economic policy of the Thai government and a strong economic growth in Thailand, which will be favourable for the Thai bath. Only minor problem is that no-one knows when and which government. My advice would be: keep your US$ in US$. Only transfer to Thailand what you really need. Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2002 Report Share Posted March 28, 2002 I believe you can have a U.S.-dollar account, but only at certain banks? Bank of America would probably be one. You could hold a bunch of dollars here, then exchange when you want, if that is true. Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2002 Report Share Posted March 28, 2002 how would the writer of an article know where the baht was headed? Link to comment Share on other sites More sharing options...
Straycat Posted March 28, 2002 Report Share Posted March 28, 2002 I think all major banks in Thailand will arrange a US dollar account if you ask for it. -- I know Bank of Asia do have that service but you need to put in 5000 USD into the account when starting up. Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2002 Report Share Posted March 28, 2002 Baht has been getting slowly stronger. From 44.87 in Sept 01 to 43.20 today. Link to comment Share on other sites More sharing options...
ThaiHome Posted March 28, 2002 Report Share Posted March 28, 2002 I think the rise goes back even further, wasn't it almost 46 early in 2001? I bet DB does a 2 year table for us at this point. It would be a graph if KS would let him post pictures. Link to comment Share on other sites More sharing options...
gummigut Posted March 28, 2002 Report Share Posted March 28, 2002 Yes, da baht has been holding it's own and slowly appreciating versus the $. Most say it's because of the Yen. It's also been hampering exports. Least that's the latest round of talks in the busienss section. Personally, I think it's a crock excuse for the decline in exports because the appreciation hasn't been dramatic in % terms, volatile in any way, nor shocking. Yes you can open a $ account, but you have to find the right bank. I visited over 20 branches. The closest I came to was one in Siam Square, but I would have to show that I've been a resident for a year or have a work permit. Note, I did not try the TFB on Soi 33 where I hear it is possible with the 5k deposit. In any case, the amounts you are thinking to move are probably quite small and you really wouldn't benefit unless there is really a wide swing. I would suggest that you keep your account in the west. Use ATM and internet banking to work your account. With the right bank, you don't get charged fees for atm usage. You can open a local baht account and keep money in that as well just in case you lose your ATM. Much easier. Also don't have to worry about repatriating your money if you decide to leave. One thing regarding the longer term outlook. The current governemnt is looking to a new soverign debt issuance. Mainly to refinance existing debt for a lower interest cost (that's what's written). But be warned that there is a new debt bill being considered by the government which would make it much easier for the government to borrow money. The government is shortly going to be strapped to fund it's populace programs. It's aiming to increase domestic debt. With the new bill, it will probably increase sovereign debt as well which will raise the eyebrows of the rating agencies. At which point they will be put on credit watch and yah know what happens then... Ah well, no use looking into the crystal ball... <<burp>> Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2002 Report Share Posted March 28, 2002 Post deleted by DoxyBlue Link to comment Share on other sites More sharing options...
BelgianBoy Posted March 28, 2002 Report Share Posted March 28, 2002 WOOOOOAAAAAAAAHHHHHHHH !!!!!!!!!!!!!!! Spilled my drink on the new keyboard..........yes one with [][][]............ Link to comment Share on other sites More sharing options...
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