Thai Baht losing against Western currencies

[js007 795]

Surely, changes in exchange rates can have some effect on who visits Thailand and who stays home. For example, if the Austrailian dollar were to suddenly start buying you 85 baht, you'd probably start seeing a lot more guys from Australia.

 

On the other hand, the slight changes we've seen of late probably aren't enough to make much difference.

[spgfcs 57]

As a hedge I put a few dollars in the Thai stock market (ETF is THD). It's only a small part of my savings, not like I'm putting all my extra cash into it. When the baht is getting stronger the value surges (I bought in around $30 and it got to almost $100 in a few years). Now the baht has weakened and the fund has dropped to $65. In either case I hope to have a good amount built up when I retire as my Thai wife will want us to move back to Thailand. If the Thai economy crashes my fund won't be worth a lot but it won't cost much to live there, if the economy booms it will be more expensive to live there but I'll have a good savings to draw off of.

[nickman70 470]

I can see some definite benefits for people coming from US or Europe. My last visit was is in March, I remember I got less that 29 Baht for the dollar, if my spending money is 3K USD for the visit. I will gain at least 9K baht, that's one full day of serious fun in Pattaya ( an LDOP type of day) . As long as prices do not increase because of the Baht losing value, people for US and Europe will have more spending cash.

[MM 6,562]

Prices do not increase because a particular currency gets more baht per unit.

I think some of you think Thais pay attention to the exchange rates, which is utter self-absorbed fantasy.

 

Nor do farang owners either.

Prices are set to what the market dictates.

 

That might indirectly correlate to exchange rates because people are willing to spend more, but mostly prices are set based on cost of doing business.

 

There is not any direct relationship between multiple currency exchange rates and prices..that's the key point I'm repeating once again.

 

 

Sent from my GT-I9300 using Tapatalk 4

 

[steamer 158]

So the Baht is down, what should go up besides imported goods? Petrol, Aussie Beef, Jack Daniels and Strongbow. Certainly not hotels nor Chang.

[jacko 8,813]

Surely, changes in exchange rates can have some effect on who visits Thailand and who stays home. For example, if the Austrailian dollar were to suddenly start buying you 85 baht, you'd probably start seeing a lot more guys from Australia.

 

On the other hand, the slight changes we've seen of late probably aren't enough to make much difference.

Think positive... which currency has lost 20% of it's value relative to US$ this year.

Currently about 48 satang when it was about 55 at the start of the year.

More straws required!

[Shilo 371]

So the Baht is down, what should go up besides imported goods? Petrol, Aussie Beef, Jack Daniels and Strongbow. Certainly not hotels nor Chang.

 

Petrol would have the biggest impact because it goes into so many other products and has a direct effect on energy costs. But seriously, a weak baht would push prices up on just about everything that isn't produced domestically...

 

The bigger issue right now is the draw down on foreign investments. If this was to continue then yes the baht rate would go down but so would the Thai stock market, interest rates would go up, which would cause the cost of new construction to increase, and growth could slow... It might help exports but outside of rice I'm not aware of any other "large" Thai export markets. And any improvement for the rice export market might be offset by other SEA competitors.

 

Bottom line: seeing a downturn in foreign investments is seldom a good thing. And unless a country has a viable domestic market it can cause some serious pain.

[filmmakrdan 82]

My first trip to the LOS, the exchange rate was around 42 to 1USD. I miss those days. Gotta a lot more bang for my buck, literally. This last time I went in early 2013, I saw it slip from 32 all the way down to almost 28 to 1 in less than a month. I started justifying it in my head. For every $100 I used to trade in I got about 4000 baht, this time was around 3000 baht. Thats literally a ST experience Im losing out on for every $100 just due to exchange rates.

[CyberSpud 6]

Hi

 

I saw 50.05 baht to the UK poond tonight, for cash exchange.

 

TT was at 49.95 ... then saw a 50 ... and then a 50.05 at corner of soi post office/beach road.

 

Sod's law ... I changed the last of my cash on Friday .... didn't think it would hit 50!

 

 

Spud

[woody0563 805]

Will the 60 baht to the english pound return .. . Would be nice

[nariad 6]

70 would be better (In my Dreams)

[ricosuave 130]

I think just having it back to 50 and staying above there is enough for now.

70 isn't ever coming back in my opinion, the conditions that got it there in the UK simply won't happen again.

60 would be nice to see. Who knows.

[jacko 8,813]

Hi

 

I saw 50.05 baht to the UK poond tonight, for cash exchange.

 

TT was at 49.95 ... then saw a 50 ... and then a 50.05 at corner of soi post office/beach road.

 

Sod's law ... I changed the last of my cash on Friday .... didn't think it would hit 50!

 

 

Spud

Thanks, I wasn't paying much attention yesterday but SCB did close at 49.9412 (baht/£ for TT)....

Might help towards the impending booze price-hikes.

[CheshireTom 1,377]

It broke through 50 THB/GBP for TCs at Bangkok Bank this afternoon.

 

 

[jacko 8,813]

Yes whoopee, 50.2 for a TT at SCB this morning.

[bratpack 91]

Transfered 7,000gbp today,from my investments,Hopefuly will be over 50 baht

[Wings 55]

One thing is that i am Luck, I have investments in Australia which Pays me in AUD and my work i get paid in USD, so i just change the AUD or USD as to which one is the best rate at the time.

[nickman70 470]

USD today is 32.26 Baht, hope this keeps going in this direction for my visit in week.

I also hope that Thai people won't be affected by this currency exchange rates mumbo.

I just want my buck to go a little farther....

[ballbag 2]

Thai Baht has been losing values due to outflow of capital. As of Aug. 30, 2013,

 

one USD was 32.14 Thai Baht

one Euro was 42,47 Thai Baht

one Pound was 49.83 Thai Baht

 

South Asian currencies are suffering, do you guys think this will cause a recession?

Is the job market in in Thailand being affected, are there layoff caused by this?

Long may it continue

[Patna 3,802]

Long may it continue

Doesn't seem that way. Today back to 31.7 against the USD

[hillbilly 81]

can we see 55 to the pound

[CyberSpud 6]

Hi

 

50.05 baht to the UK poond today at cash exchanges.

 

Highest I have seen it this trip was 50.20 last Friday.

 

 

Spud

 

 

50.25 today, Saturday .... usually Sat/Sun is the same or less than Fri ... but ...

Edited September 14, 2013 by CyberSpud

[papillon 695]

Makes little difference when barfines have shot up to 1500 Baht.

[MM 6,562]

Makes little difference when barfines have shot up to 1500 Baht.

Yeah, right. Bar fines of 1500 baht are unavoidable, uh huh.

You're a Muppet if you believe that.

[Wings 55]

Makes little difference when barfines have shot up to 1500 Baht.

 

All the increased bar fines are just bullshit. If everybody just stopped paying them, they would come down. I know the bars need to make money but lets be fair about this.

 

Freelancers are going to get a lot of work and the BG's are going to loose out. Guy's just can't afford these prices every night.