Baht Continues to Weaken

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Gaybutton
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Re: Baht Continues to Weaken

Post by Gaybutton »

Undaunted wrote:
Wed Jul 06, 2022 2:47 pm
why bother looking elsewhere as you use Wise?
Very simple. Because Wise is not the only means by which I receive money.

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Re: Baht Continues to Weaken

Post by Dodger »

Some of the financial gurus (and that's certainly not me), believe the weakening of the baht is attributed to several factors, including; the conflict between Russia and Ukraine that continues to push up the prices of commodities and the inflation rate, the US Federal Reserve's recent interest rate hike, and China's worsening pandemic and its accompanying challenges for supply chains and shipping.

The Thai Baht was projected to trade at 35.96 by the end of this quarter (close), according to Trading Economics global macro models and analysts expectations. Looking forward, they estimate it to trade at 37.17 in 12 months time. Hope they're close again.

Some of the financial experts within Thailand's inner circle see this as a positive swing which should help bolster tourism and increase exports.

Works for me!

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Jun
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Re: Baht Continues to Weaken

Post by Jun »

Dodger wrote:
Wed Jul 06, 2022 5:23 pm
Some of the financial gurus (and that's certainly not me), believe the weakening of the baht is attributed to several factors
The baht is not weakening.
If we do the maths, the baht is about 2.5% stronger YTD against the basket of currencies making up the other side of the US Dollar index.

The title of this thread ought to read "US Dollar Continues To Strengthen Against Various Currencies".

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Re: Baht Continues to Weaken

Post by Dodger »

Jun wrote:
Wed Jul 06, 2022 7:13 pm
The baht is not weakening...
I think the term "weakening" is commonly used as an indication that the value of a currency is "dropping" regardless of the reason(s) why.

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Jun
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Re: Baht Continues to Weaken

Post by Jun »

Dodger wrote:
Wed Jul 06, 2022 7:59 pm
I think the term "weakening" is commonly used as an indication that the value of a currency is "dropping" regardless of the reason(s) why.
Whether the value of the currency is dropping is also a matter of perspective.

If measured against a diverse basket of currencies, the Thai baht has been rising.

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Re: Baht Continues to Weaken

Post by Undaunted »

Jun, call a spade a spade you are only upset because the pound is floundering and the dollar has the wind to its back…….Pooh Pooh! Considering your fondness for visiting Thailand perhaps you should buy dollars as a hedge.
"In the land of the blind the one eyed man is king"

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Re: Baht Continues to Weaken

Post by Jun »

Undaunted wrote:
Wed Jul 06, 2022 9:40 pm
Jun, call a spade a spade you are only upset because the pound is floundering and the dollar has the wind to its back…….Pooh Pooh! Considering your fondness for visiting Thailand perhaps you should buy dollars as a hedge.
Upset, me ?

I'm merely trying to be accurate, as that leads to better decisions.
Clearly it's wasted on people who choose to ignore the facts.
The Thai baht has risen against a basket of currencies and the dollar has just risen even further against that basket.
So no reason to waste your bandwidth reading daft articles comparing this with the Asian Financial crisis.

As for a "hedge", well:
35% of my portfolio is invested in Asia.
44% is in other overseas assets or multi-nationals

Just in case there's any misunderstanding, you should conclude that I'm not the one constantly fretting over exchange rates.

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Re: Baht Continues to Weaken

Post by Gaybutton »

Do we really need a debate about whether the baht is weakening or the dollar is rising? For me, it's a "Who cares?"

I'm not worried about why this is happening. The only aspect of this that matters to me is the fact that it is happening, and I'm glad it is. And I hope whatever is making it happen continues to make it happen - for a very long time to come.

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Re: Baht Continues to Weaken

Post by Undaunted »

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

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Re: Baht Continues to Weaken

Post by Gaybutton »

Thank you Undaunted. I learned a long time ago to be wary of predictions. Most of the time it never happens in accordance with the predictions, but considering how it seems to be going, this time it just may work out this way. I definitely hope so.

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