cavanami Posted August 21, 2013 Report Share Posted August 21, 2013 Big jump today, again as the Baht appears to weaken a bit... Link to comment Share on other sites More sharing options...
gobbledonk Posted August 21, 2013 Report Share Posted August 21, 2013 I dont obsess over it - our dollar has slumped as low as 26 baht over the last month or so, is currently back up around 28 - more importantly for me, its perilously close to the 3 Ringgit mark. http://www.bnm.gov.my/index.php?tpl=exchangerates Even the IDR rate has bounced back after a somewhat grim 2-3 week period. For me, a strong USD back around 40 baht would be a good thing, even if it means our dollar is relegated to the 80-85 cent mark. Link to comment Share on other sites More sharing options...
Flashermac Posted August 21, 2013 Report Share Posted August 21, 2013 Old geezers like me remember the days of AUS$1 = US$1.10 Link to comment Share on other sites More sharing options...
huumlaar Posted August 21, 2013 Report Share Posted August 21, 2013 Rubbish, I remember $.50, one US$ bought two Aussie $'s, and I was being paid in US$'s :) (which I didn't know until after my first pay cheque) Link to comment Share on other sites More sharing options...
cavanami Posted August 22, 2013 Report Share Posted August 22, 2013 Looks like the Baht may weaken more...putting the US dollar into the 31's Link to comment Share on other sites More sharing options...
Dexi Posted August 22, 2013 Report Share Posted August 22, 2013 My guess is that the baht will weaken more ( along with the other EM currencies once the fed. starts to taper its asset purchase programme probably in September )as a lot of the excess liquidity in the system has flowed into these regions looking for a higher return ( only what I read in the papers ).....I`ll be happy just to get more than 50 bt for my £ s Link to comment Share on other sites More sharing options...
Mekong Posted August 22, 2013 Report Share Posted August 22, 2013 I dont obsess over it - Mr Donk Sir, Since you are still on a salary then I assume that FEDEX rates has little concern to yourself but trust me once you retire you will take care. Hey I am not retired yet but even I track the exchange rate, last April I was getting 43.3 THB / GBP now I am getting 49.7. At a modest 2,000 GBP / Month transfer that makes over 150,000 THB per annum difference to me. That could purchase you some serious Hi-Fi Gear, get me two new laptops a year or pay my Bro-in-Law through Uni based on exchange rate changes, it is money. Link to comment Share on other sites More sharing options...
Flashermac Posted August 22, 2013 Report Share Posted August 22, 2013 US$ exchange rates from 1948 - 2011 ... http://fx.sauder.ubc.ca/etc/USDpages.pdf Link to comment Share on other sites More sharing options...
Flashermac Posted August 22, 2013 Report Share Posted August 22, 2013 Baht weakest in 3 years, public debt rises The baht has weakened to a three-year-low but it's no cause for concern and was sparked by an outflow of foreign capital generated by indications the US Federal Reserve may scale down quantitive easing, Pongpen Ruangveerayuth, deputy governor at the Bank of Thailand, said on Thursday. Early Thursday, the Thai currency stood at 32.12 baht to the US dollar, the lowest level in three years. The weaker baht followed the trend of other currencies in the region as capital outflow triggered by a signal that the US would scale down its quantitative easing measures caused a reaction from foreign investors, Mrs Pongpen said. Foreign investors have started selling off their shares, causing a sharp drop in the Stock Exchange of Thailand main index over the past few days, she added. Foreign capital began flowing out of Thailand as a result. Mrs Pongpen said the central bank will step in if and when it is deemed the Thai currency is weakening too rapidly. Finance Minister Kittiratt Na-Ranong said on Thursday that the weakening baht at 32 baht to the US dollar is not a case of concern, because Thailand has US$170 billion in foreign reserves and about three trillion baht liquidity in the system. He said the current value of the baht is considered to be stable and it would be a positive factor on boosting exports. Asked about concerns the violent political unrest in Egypt would push up the global oil prices, Mr Kittirat said the state Oil Fund is now strong and in black figures, he foresaw no immediate problem. He believed the oil fund would be able to maintain domestic retail prices of fuel at acceptable levels until the political situation in the Middle East returns to normal. The Public Debt Management Office reported on Thursday that the public debt in June had increased from the previous month by 47.93 billion baht. Outstanding public debt as of June 30 totalled 5.22 trillion baht, or 44.27% of gross domestic product (GDP), director-general Chularat Sutheethorn said. Of the total, 3.65 trillion baht were debts acquired by the government, 1.07 trillion baht were debts of non-financial institution state enterprises, 490.22 billion baht were debts owned by financial institution state enterprises and 813.37 million baht were debts owned by other state agencies, she said. The government’s debt rose by 48.58 billion baht and the debt of non-financial institution state enterprises was up by 10.48 billion baht, the director general said. However, the debt of financial institution state enterprises dropped 11.14 billion baht and debts of other government agencies remain unchanged, she added. http://www.bangkokpost.com/news/local/365896/foreign-capital-outflow-weakens-the-baht-to-three-year-low-as-the-public-debt-rises-to-44-of-gdp-in-june-or-b5-22-trillion Link to comment Share on other sites More sharing options...
jon46 Posted August 22, 2013 Report Share Posted August 22, 2013 As reported in the Wall Street Journal... In the neighbor country, Malaysia's stock market also fell 1.9% Tuesday. Here, the Bursa Malaysia headquarters in Kuala Lumpur. Malaysia's currency slid to a three-year low against the U.S. dollar and its stock market fell, as the country became the latest to be caught up in the investor exodus from emerging markets. The currency, the ringgit, traded as low as 3.3039 to the dollar Tuesday, its lowest since June 2010, before recovering after Malaysia's central bankers intervened to sell more than a billion dollars, traders said. The currency was slightly weaker on the day in New York, at 3.2884. Malaysia's stock market fell 1.9%. Investors have hastened their selling of emerging-market stocks, currencies and bonds in recent days, as expectations rise that the U.S. Federal Reserve will begin tapering its bond purchases next month. The prospect of tighter monetary policy is boosting the appeal of Treasurys and other U.S. assets at the expense of developing markets. On Tuesday, the Indian rupee touched a record low of 64.11 to the dollar, and the country's main stock index fell nearly 2% before recouping most of its losses to end 0.3% lower. India is planning an overseas rupee bond issue to support its currency, a senior government official told The Wall Street Journal. Link to comment Share on other sites More sharing options...
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