Gaybutton Posted November 28, 2006 Posted November 28, 2006 Note from GB: The exchange rate mentioned in this article is the bank rate. At the moment I am posting this, the actual rate at which you will receive baht per US dollar is 36.23 to the US dollar. BANGKOK, Nov 27 (TNA) Quote
Guest wowpow Posted November 28, 2006 Posted November 28, 2006 The Bank of Thailand may make some small short term difference but the march of the US dollar, downwards in value, looks unstoppable. It has been travelling in this direction for over 5 years now. Bring back a Clinton - did I hear you say? The great thing about devaluing your currency is that your population don't notice much unless they travel abroad. There was an article on BBC World TV this morning. The effects are very peculiar as much of the world's trade is in dollars. Petroleum is traded in dollars! so the weak dollar keeps the price lower than it seems. Goods designed in the UK but made in China are paid for in dollars which saves 10 to 15% on the already low price. Europeans and especially Brits are flocking to New York and Florida for a nice break and to do their Christmas shopping. The savings more than pay for the break! Quote
