Thai Baht hits 26 month high against UD Dollar

[Guest travelerjim]

Well...more bad trends for the US$...

It's back to the budget drawing board...

once again for American Expats retired in Thailand.

 

How low will the US$ sink?

It was at 25THB to US$ before the financial

crisis in Thailand back in mid-1990's.

 

tj

 

THB hits 26-month high against USD

 

BANGKOK (NNT) -- The Thai currency opens on Thursday at 31.44-31.45 THB per USD against

the regional trend as a result of a continual capital inflow, pushing it the up to

26-months high.

 

The Thai Baht on Thursday opens this morning at 31-47-31.49 THB per USD, up from

31.48-31.50 THB at yesterday's closing, and continues to increase until it reaches

31.44 THB per USD.

 

The trend is speculated to rise in opposite direction to other Asian currencies.

 

Financial analyst said the market was still keeping an eye on the US economic figures

such as the durable goods purchase order quantity, new property sales in July and weekly

oil inventory report. Meanwhile, the domestic factors to be monitored are the capital

inflow and speculation on the Baht after the Bank of Thailand (BoT) has stepped in to

control the currency flux.

 

Today Thai baht is expected to shift within the range of 31.40-31.50 THB against USD.

 

 

-- NNT 2010-08-26

[Guest Astrrro]

If one believes the baht will revert to 25 per dollar then it makes sense to have to more money in our Thai accounts. Slight downside is these accounts are not FDIC insured.

 

So which Thai account gives the ebst return?

[Guest travelerjim]

If one believes the baht will revert to 25 per dollar then it makes sense to have to more money in our Thai accounts. Slight downside is these accounts are not FDIC insured.

 

So which Thai account gives the ebst return?

 

Sadly, none of them pay a damn!

 

Little interest and exposure to the failure

of the Thai economy..which is coming.

 

Saw an ad yesterday that said Thanachart Bank has 2.8% for 8 month certificate...

will check it our tonight at Central...but I think it will be another of their

"step up rates" certificate ...ending up... maybe in the 8th month at 2.8%

 

Thai banks are famous for these misleading "bait & switch" ads...

could not do this in USA.

 

And watch out for the bank officer wanting

you to buy a life insurance policy...

with interest rates at 5%..6% etc...Not good!

Try to get your money out if you needed it.

 

Keep your $$$ in your home country...

in bank CD or insurance company annuity.

FYI: US annuity rates are now about 3.5% for 5 years.

 

tj

[Guest travelerjim]

Bangkok Bank Exchange Rates

August 26, 2010

 

Currency

/Baht Bank Notes

Buy Sell

USD 31.07 31.72

GBP 48.18 49.77

EUR 39.44 40.67

JPY 36.36 37.81

HKD 3.94 4.14

26 Aug 10 at 11:00

[Guest GaySacGuy]

If you believe that the baht is headed down, and you live here, then moving any savings to this country now makes sense, unless that money is making a good return. If you have funds in a bank savings account, then you might an well have your money here so that you aren't losing on the exchange rate...IF..big IF..if the rate continues at the present trend.

[Guest travelerjim]

SET index closed Thursday August 26th

at 886.1, up 1.59;

 

Curreny Exchange Rates:

 

Bt/USD31.03; GBP48.20; AUD27.27; EUR39.36; CAD29.06;

HKD3.94; SGD22.76; JPY36.31:

 

http://www.bit.ly/cJ0QXT

[Guest fountainhall]

If you believe that the baht is headed down, and you live here, then moving any savings to this country now makes sense, unless that money is making a good return.

Agreed. The only problem, as discussed on another thread some weeks ago, is that if for any reason you expect you may not live much longer, repatriating unused Baht may pose some difficulties- unless it is in a non-resident account. I guess you just have to balance out the risk as best you can. I have decided to open a Baht account in my home country. The interest rate is lousy but I will eventually need the cash here and I can choose when to remit it over. If I then shuffle off this mortal coil, my executor will not have to bother with getting that Baht out of the country.

[Guest travelerjim]

Closing Markets Thailand: Friday August 27, 2010

 

The US $ weakened further...now below 31...

how LOW will it go?

 

SET index closed at 900.37, up 14.27;

 

Bt/USD30.93; GBP47.92; AUD27.18; EUR39.26;

CAD28.94; HKD3.92; SGD22.70; JPY36.36

 

tj

[Guest fountainhall]

The US $ weakened further...now below 31...

how LOW will it go?

My guess is quite a bit, unfortunately. There is a lot of capital flowing into the country, which is one reason for the SET's major rise over the last few months. But it is still below its peak of the mid-1990s.

[Guest GaySacGuy]

I wonder at what point the Thai seafood business will feel the pinch from the rising price on the world market? There has always been concern that buyers will go elsewhere at some price point.

[Guest travelerjim]

Monday August 30th...

 

US$ below 31...British Pound below 48...

going lower???

 

SET index closed at 909.65, up 9.28;

 

Bt/USD30.87; GBP47.89; AUD27.51; EUR39.23;

CAD29.14; HKD3.92; SGD22.69; JPY36.12:

 

http://bit.ly/asg7qC

[PattayaMale]

Each of us that live here are felling the strong baht. My monthly car payment is now up 33% since I first financed my car. My electric bill, water bill, food, drinks etc. are all much more expensive.

 

But I still love it here and no plans to leave.

[Guest GaySacGuy]

I am wondering about moving a little more money over here...but am I too late, is it going to go on down..or back up...I just am really unsure about what to do in this market????

[Jason1988]

Because of the weak US dollar it seems that the exchange rate could easily be at

25 in the not too distant future. This will cause problems for those on a tight budget.

I assume that when this happens some folks may decide to take a look at other destinations.

 

Seems that some are leaving for Cambodia but maybe they're a little ahead of their time.

[Guest travelerjim]

The US$ gets weaker...Baht stronger.

US$ now below 31...at 30.71

 

Bank of Thailand considering imposing Capital Controls Tax as

they did two years ago to curb speculation in the Thai Baht.

 

SET index closed at 931.52, up 1.62;

Bt/USD30.71; GBP47.43; AUD27.94; EUR39.60;

CAD29.30; HKD3.90; SGD22.74; JPY36.17

 

Thai Baht Rises To 13-Year High After Stock Inflows Pick Up

 

Follow this link:

http://www.thaivisa.com/forum/topic/396083-thai-baht-rises-to-13-year-high-after-stock-inflows-pick-up/

 

tj

 

 

 

[Guest fountainhall]

I don't have any long-term charts, but we have been at this level before and then bounced back down again. The HK$ is tied firmly to the US$ and moves in only a very narrow range. I see from my old expense claims that in March 2008, the rate was 3.94 to the Baht. Then it swung way back up to over 4.40 for a while. Now it is back down around 3.90.

 

But do I think recent history will be repeated? Alas, no! Maybe it's time for another political demonstration or two

[Guest Astrrro]

My gut feeling is that the baht will continue to appreciate.

 

I am curious how the ratio of baht futures to the baht spot rate compares with that of other currencies.

[Guest GaySacGuy]

The US$ gets weaker...Baht stronger.

US$ now below 31...at 30.71

 

B

 

 

That's enough TJ....I don't want to hear about any more records in that direction...It is too depressing.

 

How about some good news...like jobs grew in the US this month...only slightly..but at least a gain. Hope the dollar can keep up!!

[Guest]

I don't have any long-term charts

 

XE 10 years