Currency Crisis Happening Now

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parrot
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Re: Currency Crisis Happening Now

Post by parrot » July 29, 2019, 12:20 pm

daxbr wrote:
July 29, 2019, 11:40 am
parrot wrote:
June 20, 2019, 2:43 pm
The benefit of having moved here in 1996.......$1.00 = 25.13Baht. Today $1.00 = 31 and change = +20%
Must have crushed right after as I remember USD-THB44 in 1998.
25.13 was not an anomalous rate.......it was the standard for many years.
44 was also not anomalous. It was the result of a failed economy (Thaitanic) in 1996/7. I would say that 30-32 is more today's standard, having been in that range for more recent years than not. But if an interested-in-moving-here party were to ask, I'd tell them to plan for 25. If it stays in the 30 range, then there's some gravy. If it drops to 25, you're prepared.



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Lone Star
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Re: Currency Crisis Happening Now

Post by Lone Star » July 29, 2019, 12:22 pm

parrot wrote:
July 29, 2019, 12:20 pm
25.13 was not an anomalous rate.......it was the standard for many years.
44 was also not anomalous. It was the result of a failed economy (Thaitanic) in 1996/7. I would say that 30-32 is more today's standard, having been in that range for more recent years than not. But if an interested-in-moving-here party were to ask, I'd tell them to plan for 25. If it stays in the 30 range, then there's some gravy. If it drops to 25, you're prepared.
Agree.

Also excellent advice. That figure was and has been my "benchmark" as well.
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anefarious1
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Re: Currency Crisis Happening Now

Post by anefarious1 » August 3, 2019, 2:06 pm

The situation is worsening. AUD, Pound and Euro are no match for the Baht. Currency carnage!

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Raoul Duke
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Re: Currency Crisis Happening Now

Post by Raoul Duke » August 3, 2019, 2:29 pm

Wow....$1AUD=20.85 Thai Baht
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AlexO
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Re: Currency Crisis Happening Now

Post by AlexO » August 3, 2019, 4:03 pm

[
Agree.

Also excellent advice. That figure was and has been my "benchmark" as well.
[/quote]

Sorry guys, just what are you talking about. The Baht is way overpriced against all other currencies. The Hi So's know that almost all poor Thai people will put up with a couple of years of low income because there is a new Leader. But, when they only have nothing but debt (plus 2 new Chinese submarines) and when the Hi So Banks take their land and they cannot feed their children, what's next?

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747man
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Re: Currency Crisis Happening Now

Post by 747man » August 3, 2019, 4:04 pm

Even MORE WoW !! 1 GBP= 36.70 Thai Baht.....

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Re: Currency Crisis Happening Now

Post by oangh » August 3, 2019, 10:05 pm

I am sorry for the bank .pay me 6.7.to the bath, can bay 4.5 , Think a little about the banks loosen money every time you change.

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Re: Currency Crisis Happening Now

Post by TJ » August 4, 2019, 4:09 am

No one IMO should seriously accept the various opinions that the present currency rates are some freak happenings and that the Thai baht will weaken in the near or somewhat near future. It is necessary for those ex-pats nearing dire monetary circumstances and many others to accept reality and plan accordingly.

No facts have been published to support the theory or supposition that some powers in Bangkok have been manipulating various parts of the Thai economy to strengthen the Thai baht. While there have been articles about the governments of various nations weakening their currency, usually in hopes of increasing exports, I can recall none ever attempting to strengthen their currency. Likely any strengthening is very difficult or/and counterproductive to a government's well-being.

I believe any comparison to the fixed 25 Thai baht per U.S. dollar of twenty years ago to be irrelevant. By itself it doesn't convey the worth or buying power of the Thai baht then to now. When I first came to Thailand in 1995 I received 25 baht for each U.S. dollar. The rate I paid for a room in a decent modest hotel in Pattaya then was 400 baht. The same room in 2014 cost 1100 baht. That hotel rate comparison may be greater example than most; but I am of a mind to say that in general Thai prices, particularly for the foreigner, have doubled over the last twenty years.

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saint
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Re: Currency Crisis Happening Now

Post by saint » August 4, 2019, 5:15 am

Whoever is doing what , to their currency , and for whatever reason their doing it . The bubble will eventually burst .
Many are saying the world is heading for a recession in the first quarter of next year , i myself thought the end of this year , over a year ago .
So hold tight , ride it out . Changes are a coming ,and Thailand could suffer more than any other country in the region , as their monetary policies are based on smoke and mirrors .

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