USD tanking against Thai baht.

[urleft]

One reason why the Baht has gotten stronger:



Baht climbs to three-month high
Published: 18 Mar 2014 at 15.56
Online news:
.
The baht climbed to a three-month high on Tuesday after the caretaker government approved lifting the state of emergency on Wednesday.

The baht climbed to a three-month high after the Cabinet approved the measure.
 
The currency rose for a fourth day, gaining 0.4% to 32.115 per dollar as of 1:50 p.m. in Bangkok. It touched 32.104 earlier Tuesday, the strongest level since Dec 18, according to data compiled by Bloomberg.
 
The baht has advanced 1.1% in four days, paring its net loss to 3.1% since the anti-government protests began on Oct 31.
 
"Easing political concern in Thailand is providing support for the baht," said Tsutomu Soma, manager of the fixed-income business unit at Rakuten Securities Inc in Tokyo. "The baht also benefited from improving global risk sentiment as the fading threat of conflict in Ukraine helped boost stocks."
 
Thailand's economy may record zero growth or contract this year should the political unrest continue, Thai Chamber of Commerce chairman Isara Vongkusolkit said at a news conference on Tuesday. Expansion is forecast at 2% to 3% in 2014 if a new government can be formed in the third quarter, he said.
 
Caretaker Deputy Prime Minister Yukol Limlamthong said the emergency decree, which was imposed on Jan 22, would be ended Wednesday, three days before it was scheduled to expire automatically on March 23.
 
Authorities will continue to use the Internal Security Act to control anti-government protests, he said. Thailand's benchmark share gauge rallied for a fourth day after the Standard & Poors Index of US stocks rose 1% on Monday.
 
One-month implied volatility in the baht, a measure of expected moves in the exchange rate used to price options, fell one basis point, or 0.01 percentage point, to 6.5%.
 
The yield on the 3.625% sovereign bonds due June 2023 rose three basis points to 3.69%, data compiled by Bloomberg show. The yield reached 3.65% on Monday, the lowest level since June 2013.

http://www.bangkokpost.com/breakingnews/400493/baht-climbs-to-three-month-high

[urleft]

Day to Day rate tracker site back working:

http://bankexchangerates.daytodaydata.net/default.aspx


32.05 to $1  current on super rich. 

[urleft]

Well not sure what happened here but rate this morning was 32.1 to $1, it jumped to 32.32 to $1.   

Wow. 

[urleft]

Had a brief uplift of the rates, But the rates are headed south again.

Super rich just posted 32.13 to $1. 

[urleft]

Well he is some possible good news if you need to move money to Thailand.  And not good if you work for Baht. 


Thailand Recession Possible, Baht May Move Lower


Posted by: : Shayne HeffernanPosted on: April 15, 2014

Thailand Recession Possible, Baht May Move Lower
 
Baht may see 40 to 1 USD.
 
The Royal Bank of Thailand has cut the benchmark interest rate by 25 basis points to 2.0 percent, the lowest since December 2010 and expects the economy to shrink. If that trend continues for another quarter, Thailand would be in recession for the first time since early 2009.
 
Royal Bank of Thailand chief Prasarn Trairatvorakul last week said a big rate cut wouldn’t help the economy plagued by both a lack of confidence and a policy vacuum.
 
Parliament remains empty after a Feb. 2 election was disrupted, leaving Yingluck heading a caretaker government.
 
The Constitutional Court has not helped. It has ruled consistently against Yingluck’s party, annulled an election it probably won and declared illegal a 2 trillion baht infrastructure spending plan.
 
The Board of Investment says projects worth about 660 billion baht have been on ice, awaiting approval by a new committee the caretaker government has been unable to appoint.
 
The government is at its weakest and any administration that replaces it is almost certain to face the same kind of opposition, meaning many more months of weak business for retailers, the tourism sector and exporters.
 
Hotel occupancy has been hovering at about 50 percent, down from the usual 80 percent and exports grew just 0.2 percent in the first two months compared with a year earlier.
 
Tisco Bank cut its forecast for domestic car sales this year to about 900,000 vehicles from a range of 1.1 million to 1.2 million, even with a host of zero-interest loans offered by car dealers.
 
Some Thai companies are looking to expand abroad. Handset distributor Jay Mart said it may revise its target of 35 percent growth this year and aimed to tap high demand in neighboring Myanmar, as Thailand’s appetite for top-end smartphones sags.
 
According to market research group Gfk, consumers have been choosing cheaper models from Nokia and iMobile since the protests began, with Apple’s sales down from 127,000 units in November to 100,600 in February.
 
“People aren’t in the mood for shopping,” said Kridchanok Patamasatayasonthi, managing director of homes and furniture firm Index Living Mall. “They don’t know what’s going to happen, or whether we’re going to have riots in the city … they want to make sure they don’t overspend right now.”

http://www.livetradingnews.com/thailand-recession-possible-baht-may-move-lower-44020.htm#.U031z1VgtDQ

[nookiebear]

Sounds like the good times could be returning!!

[urleft]

Been a recent surge, 32.38 Baht to $1 at super rich within the past hour.   

Been hovering mostly around 32.1-2 the last month or so.  And has been really weird with no detectable pattern I saw. 

[gotlost]

Actually I do not find it weird. In 2006 the coup to outs Mr.T did little to the exchange rate so did expect much on this. At posting XE 32.44  TT 32.32 There is movement in our favor BUT the US economics still stinks.

[JasonB]

It should be 50Baht to the dollar.The economy here is shot,3 price rises in the last year alone on chicken.pork,and many other things,inflation up,no one running the place,massive government debt,raping and pilaging by those that can (politicans) so there's no money to pay the rice farmers etc etc etc.

[urleft]

Actually I do not find it weird. In 2006 the coup to outs Mr.T did little to the exchange rate so did expect much on this. At posting XE 32.44  TT 32.32 There is movement in our favor BUT the US economics still stinks.

Still going to shake Obama's hand for fixing the economy? 

[urleft]

Well, another small jump, 32.42 to $1.   

[nookiebear]

It should be 50Baht to the dollar.The economy here is shot,3 price rises in the last year alone on chicken.pork,and many other things,inflation up,no one running the place,massive government debt,raping and pilaging by those that can (politicans) so there's no money to pay the rice farmers etc etc etc.

I don't know where you shop..........Chicken is at its lowest level in 12 months...Prawns have dropped by 70 baht/kilo recently..........Pork has stepped back in the last 3 weeks..........BEEF is the one that has rocketed .....120 baht/kilo 3 years ago...........now 260baht/kilo

[gotlost]

Well, another small jump, 32.42 to $1.

Supper Bitch 32.42 Punters,tourist

TT  32.35 electronic transfer,most of us.

Xe 32.49 those that play the Internationale exchange.

[urleft]

Supper Bitch 32.42 Punters,tourist

TT  32.35 electronic transfer,most of us.

Xe 32.49 those that play the Internationale exchange.

Thank you for that commentary. 

However, the reason I quote super rich is because they are usually the leader in posting rate changes.  So tomorrow morning (Thailand time) I would expect the TT rates to exceed the Super Rich rates for notes. 

I monitor this because I need to transfer a large about of funds to Thailand and want to try to time it maximizing the exchange rate.  I did that earlier this year and got a rate of 32.87 to $1.  Here's hoping for another upsurge.

[gotlost]

I think the banks are closed tomorrow so I do not expect any action till Monday. Xe out of Singapore will be active. Your transfer rate will hing on your bank in Thailand. Also May 13 banks are closed.

I find the TT rate and SR cash rate close but normally the TT rate is just off it.