thai baht rate update

[rapebill]

22.85 at GM 28 Oct 08

[bignround]

current rate in Bangkok now is 22.70

[Bushnell 1918cb]

Originally Posted by rapebill

22.85 at GM 28 Oct 08

Hi,

By looking at the current volatile economic situation, if it reaches 23.00. Those whom have extra cash (S$), can change more to Thai Bahts. SG currency is weakening & the GDP is expected to fall below 4% according to MAS. Nightmare for frequent cheongster like us.

[yinyang]

It's inlikely thb >23 in short term with MAS position on our exports and strong usd >1.5 (vs 1.30+ not too long ago)

[williamangkh]

Today UOB Thailand, at 23.07.

[ahtecklim]

Originally Posted by Bushnell 1918cb

Hi,

By looking at the current volatile economic situation, if it reaches 23.00. Those whom have extra cash (S$), can change more to Thai Bahts. SG currency is weakening & the GDP is expected to fall below 4% according to MAS. Nightmare for frequent cheongster like us.

I'm not in the trade but why is the baht so strong even with all the political problems and worldwide financial meltdown.

With tourism and exports down , one would expect the thais to devalue it. As well with the problems mentioned above , I was expecting it to be in their 30's like post-Asian Financial Crisis.

Any insight?

[adidas88]

Originally Posted by ahtecklim

I'm not in the trade but why is the baht so strong even with all the political problems and worldwide financial meltdown.

With tourism and exports down , one would expect the thais to devalue it. As well with the problems mentioned above , I was expecting it to be in their 30's like post-Asian Financial Crisis.

Any insight?

it is not that baht is strong but rather our sin$ is weak ...
MAS devalue our currency to make singapore more competitive with other countries ..

[etct88]

Originally Posted by adidas88

it is not that baht is strong but rather our sin$ is weak ...
MAS devalue our currency to make singapore more competitive with other countries ..

Bro, would you know what is the baht against the USD? Happened to have a couple of thousand. Not that much that would make a real difference. Would it be better to change in Hatyai, as I always did...

thanks

[larotomo]

Buying 34.69 for USD in bangkok.

[ahtecklim]

Originally Posted by adidas88

it is not that baht is strong but rather our sin$ is weak ...
MAS devalue our currency to make singapore more competitive with other countries ..

Yeah true SGD went down vs other curriencies too. I was expecting thailand to devalue the baht too so they can increase their two main money earners ; tourism and exports.

But the baht is also holding against other currencies that why i was puzzeled why its still so strong. Some people say it is pegged mostly to the yen ; among other currencies.

[beauthaiful]

Thai Baht : 23.02 for $12 sending today close at GM

[High till Dry]

22.9 from chinatown

[Bushnell 1918cb]

Originally Posted by ahtecklim

I'm not in the trade but why is the baht so strong even with all the political problems and worldwide financial meltdown.
Any insight?

Hi,

Bro YingYang is the appropriate person whom can give his perspective of this subject. Bro YY, Please enlighten us. Many Thanks.

Originally Posted by Bushnell 1918cb

Hi,

Bro YingYang is the appropriate person whom can give his perspective of this subject. Bro YY, Please enlighten us. Many Thanks.

Not trying to steal the spotlight from Bro YY....he may have a diff reason which would likely be more accurate compared to mine...

But basically, I think the Thai Central Bank is artificially supporting the Thai Baht agst other currencies now...but they will not be able to do tat (plans to de-value the baht in Jan 2009) for long...

Whereas, MAS is not intervening as of now...

Just my thoughts...Bro YY....how true is this and ur comments pls?

LMP

[williamangkh]

Today UOB Thailand rate at 23.25