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Is the baht ready to tumble


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. Foreigners engage in frenzy of profit-taking…

 

 Thailand is experiencing heavy outflows of capital as foreign investors sell off shares on the Stock Exchange of Thailand (SET). In the period from late August to the first week of September, the profit-taking was worth some 3.25 billion baht, analysts said

08-Sep-2003  -  Source: Business Day

 

 

:o :D

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  • 2 months later...

A few days ago in Pattaya, I withdrew funds from an autoteller in Pattaya. The rate given to me by Nationwide Building Society, as far as I can tell from looking at my account on the internet was a bit over 68 baht to the £. A week earlier, I got just under 67 baht to the £. Certainly a vast improvement from a few months ago when the rate had gone below 65 to the £.

 

Alan

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I understand that the THB is linked to the USD and the USD is not very strong at the moment, about £1=1.70USD.

Now the 64,000 dollar question, do any of the Bros with excellent financial knowledge know which way the dollar will head in the next couple of months?

The reason I am asking is the Peninsula Hotel rate is in USD and I will pay in advance if it is going to become stronger.

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I understand that the THB is linked to the USD and the USD is not very strong at the moment, about £1=1.70USD.

Now the 64,000 dollar question, do any of the Bros with excellent financial knowledge know which way the dollar will head in the next couple of months?

The reason I am asking is the Peninsula Hotel rate is in USD and I will pay in advance if it is going to become stronger.

 

I don't claim expertise, but it is unlikely the dollar will regain strength anytime soon.  The U.S. government is borrowing lots and lots of money right now and has no interest in the dollar getting stronger.

 

Though the U.S. economy seems to be recovering or even going strong, a weak dollar helps so I don't predict any fiscal policy changes to strengthen it.

 

It also appears that foreign currency reserves world wide have diversified over the last couple years and confidence in the Euro should keep it this way so there probably wont be a lot of international buying of the dollar that would push its price up.

 

-Vox

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