What the F**K is with the Thai Baht?!

[deepthroat]

Wow.

I just went to check current exchange rates ( http://www.xe.com/ucc/ ) and I see that the Baht is currently at about $33.31 per 1000 baht.

Last year during my January/February excursion it was around $29.94 for 1000 baht.

That's an increase of 10% in less than 12 months, and given the recent strength of the dollar against other currencies, this makes NO fu**ing sense.

I see it's even worse if you live in the UK or Europe.

£ - went from .018 in January to .021 today. Good Gods and Crikey! That's over 14% in less than a year!

Euro - went from .02 in January to .025 today. Sacre Bleu! That's a 20% increase (or depreciation as it were) in less than a year!!!

What the f**k are they doing over there? Seems like instead of "what stock to pick" we should be discussing what currency to speculate in.

[mardhi]

I guess you have been keeping your head in the sand over the last 2 years with the US, UK, euro zone printing shed loads of currency and calling it 'monetary easing' - however the markets know what is going on LOL. The afformentioned currencies are worth much less than they were - Asian currencies as an alternative are still safe houses. Go figure the logic but there you go.

The old currencies are being crusified and Asia is the new safe haven - just look at google and understand why everyone thinks the US $ will go to 25b to $1 sooner rather than later.

Cheers
Mardhi

[spare wheel]

Each trip is just that little bit more now, save more and enjoy your holidays, most on here go to Los so were lucky in my eyes.
Lots of people haven't had holidays for years.

make the most of it before everywhere goes tits up.

SW

[Masahiko]

I'll be happier when it gets back to 45 or higher to the USD, which will probably never happen.

Even the Euro is stinking it up against the Baht...who knows.

[Steff]

DT,

1.00 CAD = 29.7289 THB
Canada Dollars Thailand Baht
1 CAD = 29.7289 THB 1 THB = 0.0336373 CAD

[pacman]

Why wouldn't the Thai baht be one of the strongest currencies in Asia? The Thai central bank runs a very tight monetary policy with a strong surplus.

The government doesn't make welfare payments to the poor, they don't need to print cash & compared to the problems of Europe & the US, they look like a model of fiscal virtue.

The Central Bank of Thailand is actively trying to reduce the value of the baht & in an ironic twist, the easiest way for them to devalue is to invest some of their surplus cash into US dollars.

Remember back to the time when all the third world wanted was yankee dollars? Now they buy them to drag down their own currency.

[deepthroat]

Yes, LOS and the rest of Asia did the hard thing to achieve the fiscal austerity necessary to get their house in order a couple of decades ago. In an ironic twist, I remember when the baht and other asian currencies dropped like a stone and the pleas to help them were met by the US and other G8 powers with a stern "No, you have to suffer the consequences". They did, without any of the central bank chicanery that is now going on in the USA and Europe, and look where they are today.

Too bad we couldn't follow our own advice, but on the other hand... there will be riots and chaos in the streets that would make the Greece and Ireland demonstrations look like a drunken wedding party in contrast when/if it finally happens.

[reflections]

hey pacman it must still be a good deal for you with Aussie dollar

[TTChang]

I gather Australian Banks were worthy of the name, instead of 'Scottish casinos' with directors on the gravy train, and where 'risk' was a board game.

Might have something to do with strength of A$ - same Thailand.

That Wunch of Bankers have a lot to answer for .....     46.9 baht to £ today.  69 on my first trip to LOS.

[rxpharm]

In the early 90's before the Asian Financial Crisis, the Thai Baht was pegged at 25 Baht to the USD. After the crash it was around 50+ Baht to the USD for a while, and of course now the US and European economies have tanked it's gotten quite strong. The projected GDP growth rate is around 7-8% for next year (barring political upheaval), so it is doubtful things will improve anytime soon for the exchange rate.

[manarak]

(pacman @ Nov. 25 2010,06:50) Why wouldn't the Thai baht be one of the strongest currencies in Asia?

Because it indisposes small minds prejudiced with western superiority who cannot acknowledge what is happening.
Thai Baht didn't move much, the EUR, GBP and USD did. down.

And the EUR is tanking even more now because of Ireland.

In terms of risk modelling, the term of Casino-Capitalism or Roulette-Capitalism has never been more accurate.

The funny thing is, these events were not caused by entrepreneurs, they were caused by f*cking employees, i.e. overpaid CEOs, a direct consequence of the "democratization" of markets.
It would never have happened with majority-holding old greedy patriarchs at the head of the biggest banks.

[Tomcat]

Was reading the Wall St Journal on a flight yesterday, it seems that the baht will get even stronger this year against western currencies due to the fact that ist seen a safe haven and LOS isnt doing to bad in the economic stakes. The dollar and £ will drop further it appears.
I seem to agree with them

It seems as if the tourism thing with the red shirts and yellow shirts hasnt dented confidence in Thailand

UK £ will drop to sub 40 baht by the summer IMO. LOS is no longer a cheap as chips destination for the westerner.

Them days are long long over

[deepthroat]

current rate is 1,000 baht for $33.2667 so it's down ever-so-slightly from November when I first posted.

[katoeylover]

In exchange booths here it is about 30

[ALASKAN BEAR]

Live rates at 2011.01.04 16:35:00 UTC
1.00 USD = 30.0800 THB view USD/THB chart
United States Dollars Thailand Baht
1 USD = 30.0800 THB 1 THB = 0.0332447 USD