Baht Continues to Weaken

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Undaunted
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Re: Baht Continues to Weaken

Post by Undaunted »

gerefan wrote:
Tue Jul 05, 2022 8:37 pm
Jun is spot on.

In December I got 45.5 baht per GBP. Today I would get 42.7. https://ttexchange.com/

That’s a DROP of some 7%, in only 6 months, for us Brits.

Consider yourselves lucky!
Perhaps you need to rethink your future travel plans.
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Re: Baht Continues to Weaken

Post by Jun »

Undaunted wrote:
Tue Jul 05, 2022 9:13 pm
Perhaps you need to rethink your future travel plans.
And perhaps we don't need to rethink them.

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Re: Baht Continues to Weaken

Post by gerefan »

Undaunted wrote:
Tue Jul 05, 2022 9:13 pm
Perhaps you need to rethink your future travel plans.
No. Why?

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Re: Baht Continues to Weaken

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Jun wrote:
Tue Jul 05, 2022 8:01 pm
Last time I looked, the currency movement was more due to the dollar strengthening against a basket of currencies, rather than the baht weakening.
You're our resident economics expert, so I'll happily take your word for it, especially since I don't understand these things at all. All I understand is at the moment the exchange rate is improving for the US dollar and I for sure hope that continues. I thought it was improving for everyone, but apparently that is not the case for the UK. I hope that turns around for the UK so that you gents can join the party too.

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Re: Baht Continues to Weaken

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"In the land of the blind the one eyed man is king"

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Re: Baht Continues to Weaken

Post by Gaybutton »

I prefer looking at the exchange rates in real time, whenever the rates are updated. I always use the following:

https://www.scb.co.th/en/personal-banki ... tml#fxrate

I'm posting this at 1:23pm, Thailand time. The TT rate, which is usually the rate I receive, although using Wise I always get an even better rate, is currently 35.9. I think it will exceed 36.0 before the end of today.

Great! I would like nothing better than to see it keep going the same direction.

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Re: Baht Continues to Weaken

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Gaybutton wrote:
Wed Jul 06, 2022 1:23 pm
I prefer looking at the exchange rates in real time, whenever the rates are updated. I always use the following:

https://www.scb.co.th/en/personal-banki ... tml#fxrate

I'm posting this at 1:23pm, Thailand time. The TT rate, which is usually the rate I receive, although using Wise I always get an even better rate, is currently 35.9. I think it will exceed 36.0 before the end of today.

Great! I would like nothing better than to see it keep going the same direction.
The current Wise rate as of 2:45 is 36.04…..why bother looking elsewhere as you use Wise?
"In the land of the blind the one eyed man is king"

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Re: Baht Continues to Weaken

Post by Jun »

I like to compare Wise or whatever I'm using for forex v the mid-market rate off XE. My target is a loss in the 0.5% ballpark, since we rarely get anything better than that.

As for the movements, so far this year (approx):
The USD is up from 33.2 to 36
The EUR is down from 37.74 to 37
The GBP is down from 45 to 43.17

The USD probably benefits from a change in market expectations towards more interest rate rises this year, backed up by a proper rise in interest rates at the last Fed meeting. Plus people still flock to the USD in times of uncertainty. The <discussion banned> geopolitical event creates uncertainty. The US is also a large oil & gas producer.

Whilst more interest rate rises are expected in the UK, the BOE only raised by 0.25% last month, when 0.5% was widely expected. Hopefully they correct that error this month.

The ECB seem asleep at the wheel.

Exchange rates can move MUCH further than this and these small moves have no effect on my holiday plans.

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Re: Baht Continues to Weaken

Post by Undaunted »

Jun wrote:
Wed Jul 06, 2022 3:26 pm
The USD probably benefits from a change in market expectations towards more interest rate rises this year, backed up by a proper rise in interest rates at the last Fed meeting. Plus people still flock to the USD in times of uncertainty. The <discussion banned> geopolitical event creates uncertainty. The US is also a large oil & gas producer.

Whilst more interest rate rises are expected in the UK, the BOE only raised by 0.25% last month, when 0.5% was widely expected. Hopefully they correct that error this month.

The ECB seem asleep at the wheel.

Exchange rates can move MUCH further than this and these small moves have no effect on my holiday plans.
Hopefully your travel plans are not immediate as the pound perhaps will recover.



Baht’s decline spikes memories of the financial crisis: https://aseannow.com/topic/1265041-baht ... years-ago/
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Re: Baht Continues to Weaken

Post by Jun »

Undaunted wrote:
Wed Jul 06, 2022 3:31 pm
Baht’s decline spikes memories of the financial crisis: https://aseannow.com/topic/1265041-baht ... years-ago/
Well, for a start, as I have stated several times already, the Baht is not declining -it's dollar strength v various currencies. Most of the AseanNow readers get that.
The ThaiPBS article is low quality clickbait written for mugs.

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