The rate on the street.

[Rawhide2]

Hellfire now out to 31.26

[Rawhide2]

Sterling was 40.61 last night In Soi 8 exchange

Interbank currently 40.76 so I'd imagine TT etc will open around last nights figure

 

Edited...40.58 TT

Edited January 31, 2020 by Rawhide2

[The Mook]

I saw 30.96 quoted for the USD in BKK today. Keep in mind this move is directly related to the impact of the coronavirus. The length and severity of the contagion, and it’s impact on the tourism trade in Thailand, will tell us if this is a temporary setback that will quickly normalize or set a new level for exchanges rates. I cannot see Chinese travel restrictions lasting less than two additional months though. Even if the peak of the contagion happens in February, that peak will be seen in retrospect. April 1 is an optimistic estimate regarding groups from mainland China returning to Thailand in force. And remember, this virus will have an impact on a Chinese economy that was not surging forward prior to the discovery of the Wuhan coronavirus. 

[yselmike]

2 hours ago, The Mook said:

I saw 30.96 quoted for the USD in BKK today. Keep in mind this move is directly related to the impact of the coronavirus. The length and severity of the contagion, and it’s impact on the tourism trade in Thailand, will tell us if this is a temporary setback that will quickly normalize or set a new level for exchanges rates. I cannot see Chinese travel restrictions lasting less than two additional months though. Even if the peak of the contagion happens in February, that peak will be seen in retrospect. April 1 is an optimistic estimate regarding groups from mainland China returning to Thailand in force. And remember, this virus will have an impact on a Chinese economy that was not surging forward prior to the discovery of the Wuhan coronavirus. 

You may be right but the Chinese currency is also strengthening against the Baht.does anybody have any facts about why the Baht suddenly dipped seemingly against all currency's.

[Bazle]

12 hours ago, The Mook said:

April 1 is an optimistic estimate regarding groups from mainland China returning to Thailand in force. 

"Optimistic" is not the word I would have chosen!! 

[Rawhide2]

11 hours ago, yselmike said:

You may be right but the Chinese currency is also strengthening against the Baht.does anybody have any facts about why the Baht suddenly dipped seemingly against all currency's.

Because every currency sets its benchmark against the USD....If the Baht weakens against the Greenback than Sterling, Euro, AUD etc etc etc will automatically rise

Two currency pairings make up the bottom line. For Brits (Sterling/Dollar) x (Dollar/Baht) produces the bottom line.  For Euro users you'd substitute Euro/Dollar in first pairing and so on.....movement in either pairing effects the bottom line number crunch.

Only the worlds "reserve" currency the USD has a direct exchange rate against every other currency

[Rawhide2]

Further words superfluous.......

 

[midlifecrisis]

1 hour ago, Rawhide2 said:

Further words superfluous.......

 

Amazing. 

[yselmike]

3 hours ago, midlifecrisis said:

Amazing. 

€34:40 

[Rawhide2]

I can see from my trading platforms where traders on Dollar/Baht have positioned themselves.....We've got over 83% "shorting" the Baht (meaning they want it to weaken)...stand on me thats a very high percentage. "Trading Chatter" suggests Dollar/Baht will open around 31.40 late tonight. We'll see but I wouldnt be surprised at further weakness

[jacko]

Today, busy around Buakhao.....what a zoo that area is!

[Butch]

Ok, I punted the baht at its lowest around 35 to the Sterling (I think). I was about a baht out if I remember ?

Going the other way, I'll put a virtual san mig light as a wager that we'll see 43 baht by the end of Feb.

 

Edited February 2, 2020 by Butch

[tallguy]

43 minutes ago, Butch said:

Ok, I punted the baht at its lowest around 35 to the Sterling (I think). I was about a baht out if I remember ?

Going the other way, I'll put a virtual san mig light as a wager that we'll see 43 baht by the end of Feb.

 

Make it a Corona and you could go viral.?.

 

 

I'll get me coat.!!!

[Rawhide2]

45 minutes ago, Butch said:

Ok, I punted the baht at its lowest around 35 to the Sterling (I think). I was about a baht out if I remember ?

Going the other way, I'll put a virtual san mig light as a wager that we'll see 43 baht by the end of Feb.

 

If Sterling/Dollar stayed static at $1.32 we'd need Dollar/Baht to weaken out to 32.6 which I also agree is quite possible..... Make no mistake this coronavirus is not going to die down anytime soon. BA for example have taken all flight bookings to China off the system till April now apparently

[yselmike]

3 hours ago, Butch said:

Ok, I punted the baht at its lowest around 35 to the Sterling (I think). I was about a baht out if I remember ?

Going the other way, I'll put a virtual san mig light as a wager that we'll see 43 baht by the end of Feb.

 

Is that because the Baht is losing value on the market or because the pound is gaining on the market,at the moment most currency's are rising against the Baht not just the pound.

I would be happy to see my euro go back to even 36. 

[Rawhide2]

9 hours ago, yselmike said:

Is that because the Baht is losing value on the market or because the pound is gaining on the market,

Primarily because the Baht was weakening against the USD albeit on Friday Sterling was up slightly against the USD in addition. Double whammy in favour of Brits for once

[jacko]

2 hours ago, Rawhide2 said:

Primarily because the Baht was weakening against the USD albeit on Friday Sterling was up slightly against the USD in addition. Double whammy in favour of Brits for once

Seems to be rolling back a bit this morning....

[Rawhide2]

1 hour ago, jacko said:

Seems to be rolling back a bit this morning....

At time of post Baht weakening again against the Greenback....gone out to 31.24 interbank (only last half hour though)

Sterling now 41.16 interbank....

[Rawhide2]

Bit of a pasting today for sure. Baht gained against USD and Sterling dropped against USD a recipe for heading south. Just seen 40.50 under Atlantic bar and thats higher than it should be as well.

[yselmike]

£ is back under 40,it's showing 39:88 on the TT web page and the € is 34:02.

[Rawhide2]

2 hours ago, yselmike said:

£ is back under 40,it's showing 39:88 on the TT web page and the € is 34:02.

Just been past Soi 2 TT and that one was showing 40.02

[nkped]

Something a bit different, Kasikorn Bank was showing the same rate for US $100 and $50 as T-T, 30.86?

[Rawhide2]

Sterling was up around 40.20 late last night at TT....

Should be around that this morning. Dollar/Baht interbank just edged up past 31 again

[Rawhide2]

Baht starting to wobble again. Sterling rising off the back of it....

 

[jacko]

Crappy pic with reflections from Big-CX.