thai baht rate update

[JWNY]

Originally Posted by yinyang

Yesterday's news on strong bht victims from Nation: (Is there hope for us minnows yet?)

Exports make up at least 60% if not more of the Thai economy and there are yet several factors as long as the Chinese Yuan continues to appreciate, in the absence of other factors such as political problems with regards to the forthcoming elections, the TBH should follow suit. The Yuan is expected to stregthen 10% vs the USD over the coming year. Other factors would be that, in actual fact the USD is weak as suggested and not that the TBH is strong. And remember bros...The TBH should hit 30 against the USD real soon, it is in general - good for the Thai people

JWNY

[yinyang]

Originally Posted by JWNY

Exports make up at least 60% if not more of the Thai economy..Yuan is expected to stregthen 10% vs the USD over the coming year. ..USD is weak as suggested and not that the TBH is strong. ...The TBH should hit 30 against the USD real soon, it is in general - good for the Thai people.

In short term, we small potatoes kena foot more in our LOS forays (aka vices for aggs, MPs etc).

Another plausible reason for strong bht is high capital inflows into equities market (regional bourses hot recently). Effects on exporters cascade to man in street too (yesterday, 5000 redundant garment workers had to be rescued by national trade association).

From Bkk post today:

$4 billion in inflows to SET propel Thai baht to new heights
Capital inflows of $4 billion into the stock market since the beginning of the year have been the main factor driving the baht's rapid rise, according to the Bank of Thailand. But pressure on the currency should ease in the second half as business sentiment improves, resulting in higher private investment and imports of capital goods, according to central bank governor Tarisa Watanagase.

INDUSTRY & EXPORTS / PRESSURE FROM STRONG BAHT
'300,000 garment jobs could be lost'
Up to 300,000 jobs in the apparel industry could be lost if Thailand's currency continues to strengthen, according to local exporters. Phongsak Assakul, president of the Thai Textile Manufacturing Association, said the apparel industry was facing a genuine crisis that would affect the 1.06 million people who work in the weaving, textile and garment sectors.

[ProfessorOokami]

Originally Posted by JWNY

Exports make up at least 60% if not more of the Thai economy and there are yet several factors as long as the Chinese Yuan continues to appreciate, in the absence of other factors such as political problems with regards to the forthcoming elections, the TBH should follow suit. The Yuan is expected to stregthen 10% vs the USD over the coming year. Other factors would be that, in actual fact the USD is weak as suggested and not that the TBH is strong. And remember bros...The TBH should hit 30 against the USD real soon, it is in general - good for the Thai people

JWNY

Interesting economic analysis presented. keep it up. I have learned a lot from here, as Economics is my weak subject

Strong THB is bad for us cheongsters

[gigantor]

Just change at GM at 21.6

[High till Dry]

Originally Posted by gigantor

Just change at GM at 21.6

that's ridiculous...

[gigantor]

Originally Posted by High till Dry

that's ridiculous...

U said it. This will probably be my last trip to BKK for the year or until the rate really improved. Anyway, quite sian liao. Like to try other regions first.

[High till Dry]

Originally Posted by gigantor

U said it. This will probably be my last trip to BKK for the year or until the rate really improved. Anyway, quite sian liao. Like to try other regions first.

Bro, I can't lei.

Got tirak commitment there...

[justl00king]

Originally Posted by High till Dry

that's ridiculous...

Think will go down some more...

[gigantor]

Originally Posted by High till Dry

Bro, I can't lei.

Got tirak commitment there...

HAHA... I can understand yr situation. What to do? We men are sucker...

[High till Dry]

Originally Posted by justl00king

Think will go down some more...

From an exchange rate of S$1 to $23 plus to currently $21 plus that's 10% difference in the past 1 year...

[84gunner]

haha, u all still talking about tis? Remember, more than 1 year ago, I oredi said, hedge it!! Bro High Till Dry noticed 10% difference oredi. If u regard it as a kinda investment, then u would've made 10% profit in this 1 year!!!

In investing, there is something called diversification. Most of u are holding yr $$, or currencies, of yr home country, ie. SGD or MYR. If u diversify yr $$, putting into other currencies, u lose some here, but u gain some there!

For those who hedged the currencies as I mentioned, I believe today u'll be happy u hedged it!

[yinyang]

Originally Posted by 84gunner

..u all still talking about tis? Remember, more than 1 year ago, I oredi said, hedge it!! ..If u regard it as a kinda investment, then u would've made 10% profit in this 1 year!!!

Bro, take your point but this is also with benefit of wisdom of hindsight. Most of us are not so blessed as you with means (or know how).

Hedging cuts both ways. There's also the opportunity cost of tieing up your money. Investment? Or consumption? Many bros are with limited means for cheonging holidays, tiraks etc.

So from layman's point of view, can we just take it just as some useful information on exch rate trend?

[vertikal]

i changed 22.1 last sunday at one of the money changer in bedok

[84gunner]

Originally Posted by yinyang

Bro, take your point but this is also with benefit of wisdom of hindsight. Most of us are not so blessed as you with means (or know how).

Hedging cuts both ways. There's also the opportunity cost of tieing up your money. Investment? Or consumption? Many bros are with limited means for cheonging holidays, tiraks etc.

So from layman's point of view, can we just take it just as some useful information on exch rate trend?

I understand wat u mean.

I'm not in the finance industry, so tis is not my profession, I'm oso a layman, haha. I'm capitalising on the info & taking real actions (I'm not sitting there NATO - No Action, Talk Only) 2 enhance my financial convenience & hopefully gain some more spending power, not only in LOS, but at very least in countries / regions where I am.

Hedging or investing has it's risks. Even putting yr $$ in the bank oso has some risks, though the risk is very, very low, it doesn't mean totally no risk!!!

My suggestion is outta sharing some strategies 2 other bros here. End up, I tink it got more flames. When u mentioned know-how, I'm thinking, I had oredi said, they can open a bank acct in LOS, maintain the acct with some THB. Do I have 2 mention more details, or give step-by-step instructions, like how & wat documents 2 bring 2 open bank acct, etc? Do I oso have 2 mention, they may "modify" my ideas?

Example, instead of taking tat much $$ at 1 go, they can do something like a Regular Savings Plan, ie. put aside some $$ every month, or do a remittance once every few months, etc? They not only accumulate some savings, but oso with an element of investment in a foreign currency! When they travel to LOS, they dunnit go money changer (whether in SG or LOS) 2 change $$, they can go ATM & withdraw local cash / currency upon arrival in LOS, so convenient!!!

Do typical SGPeans really can't think outta the box, follow instructions / suggestions blindly, step-by-step? If tat's the case, maybe I can do side-line, provide these advice for a fee!!! No wonder SGP's banking & finance industry is short of pple recently, probably due 2 such needs / market demands?

[84gunner]

Originally Posted by vertikal

i changed 22.1 last sunday at one of the money changer in bedok

fren, exchange rates fluctuate everyday, round the clock, from Monday morning New Zealand / East Australia market start trading, until Friday nite US market close trading.