Gaybutton Posted March 14, 2007 Share Posted March 14, 2007 The baht has appreciated once again and as of noon today the exchange rates are as follows: US dollar: 34.91 Euro: 45.925 British Pound: 67.21 Australian dollar: 27.1025 Canadian dollar: 29.5325 Quote Link to comment Share on other sites More sharing options...
Guest BKKvisitor Posted March 14, 2007 Share Posted March 14, 2007 The cause of the appreciating baht is the influx of foreign investment which is primarily a function of Thailand's low labor costs. And most of what Thailand produces (for international consumption) requires unskilled labor whose wages are unlikely to grow at the same pace prices will rise. Unlike many of the other Asian tiger economies, Thailand isn't making any high-tech gadgets or positioning itself as a center of financial services. While the appreciating baht will cause many visitors to rethink how often and how long they stay on future trips to the LOS, it's Thailand's undereducated work force that will fare the worse. They lack the skills that they need to move up to a better life and are destined to spend a lifetime making foreign investors (and the Thai elite who depend upon them) wealthy. As for where the baht will settle by year's end, I suspect it will settle in a range of $33 to $35. Anything below that will be particularly bad for exporters. Indeed, it has already taken its toll on some of the smaller players. Quote Link to comment Share on other sites More sharing options...
Gaybutton Posted March 15, 2007 Author Share Posted March 15, 2007 As of 10:30 AM, Thursday, the Ides of March, the exchange rates are as follows: US dollar: 34.82 Euro: 45.935 British Pound: 67.275 Australian dollar: 27.1975 Canadian dollar: 29.4775 Quote Link to comment Share on other sites More sharing options...
