Baht What up with Dat?????

[Pakawala]

Udon.map home page currently shows 35.14 but I'm not sure where they're getting their data.

[aznyron]

Pak it now showing 34.46 which I believe is correct as of 11.40 today

[Pakawala]

Ron, you're looking at the 'buy' rate... you're not buying Dollars, you are selling them, so you get the 'sell' rate.

[bumper]

I still haev an active account at Bank of Bnagkok, bit never use it all the ones I really use are at SCB. Bangkok Bank after four years refused to do my immigration letter propely so Bye Bye.

Ron, this is why you need to be patient. We are only in a new chapter of this book. Things have not settled down.

It appears the BOT is conidering anohtre 1% rate cut thats big, The Fed is expected to cut rates today, we will know soon. They will figure out a way to keep the auto industry going. That one is confusing to me. If I was them I would just shut down till the answer was found. They have to retool and get a product that sales. Couldn't be any worse then the long term strikes thye have went through.

So a lot of iron's in the fire got to wait and see how things play out.

Democrats could face dissolution: EC

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Web www.bangkokpost.com

The Puea Thai party filed a complaint with the Election Commission (EC) against the Democrat party after its leader and newly elected prime minister Abhisit Vejjajiva appeared to team up with banned politician Newin Chidchob.


EC member Prapun Naigowit, referring to the Puea Thai's petition, said the photograph of Mr Abhisit hugging with Mr Newin in an attempt to get more MPs to help the Democrat party set up the new administration could violate articles 96 and 98 of the constitution.

The petition could lead to the dissolution of the Democrat party, the commissioner noted.

The EC earlier considered the case alleging that the People Power party was a proxy of the court-dissolved Thai Rak Thai party. However, there were no laws covering the nominee case.

[nevket240]

http://www.bloomberg.com/apps/news?pid= ... refer=asia

Why, Oh why ,do I smell a RAT?? JPMorgan. one of the biggest slimeballs in the world of underhand money !!!

Foreign capital, eh?? I wonder who gets first bite at the cherries?? Several ex Goldman Sux execs are positioned in central banks around the world, now Thailand has been taken out as well. Pax Americana.

regards

[nevket240]

http://www.kitco.com/ind/nadler/dec162008A.html

regards

[aznyron]

Ron, you're looking at the 'buy' rate... you're not buying Dollars, you are selling them, so you get the 'sell' rate.

Pak I hate to disagree with you but we are not selling dollars we are buying Thai baht with our USD
today rate is 34.16 going back to 33 and who knows were it will stop Vietnam is looking better all the time over
17000 dong to the USD excellent exchange rate so if I have to pay extra satang for a bowl of noodles that ok because it my choice to buy it I have no choice here I must buy the thai baht and get exchange rate that is stealing my money

[bumper]

Ron SCB right now 34.44

You got to look at the TT rate

Bangkok Bank will be higher then this.

You need to go to Vietnam dude and check it out, might be paradice for you who knows. Try it, may be perfect for for any number of reasons. I have always believed living in Thailand is not for everyone. You only get one shot at this, not a rehearsal. Live life the way you want, to the limits you can. Do no harm to others. What the heck else can anyone expect. Go for it man.

[aznyron]

git were else could I bit/ch & moan about the thai baht if you don't listen and no body cares well then
I will be posting for nothing I listen to you I have said that many times in here but the emotional aspect of the baht getting strong weighs on my mind now do I want to continue living under that pressure the answer is NO that not why I came here so what is the answer I sit and wait and see what happens if it get to bad for me I leave. the joke is you get more ringits for the USD then last year and more dong than last year and less baht then last year some thing wrong with that picture I am just expressing my thoughts & frustration Merry Christmas and thank you for coming up with that idea for Dave

[bumper]

Merry Christmas to yuo a well.

You really blew that I think was the first time you had complete support. I knew what you were doing just kidding =D>

I have my days to

[bumper]

Hold on to your knickers Ron, one of the irons is out of the fire and it looks like dollar holders are in for the wild hatter ride. With all this going on banks are still not lending. I guess the next step is to pay them 50% to loan. Unless Japan acts look like a tough year ahead. Teh othre iron in the fire is the lack of repsonse by the Thai economy, adn lets see if they actually give the new government a chance. They have already started filing complaints.

D

ollar Declines to 13-Year Low Against Yen After Fed Rate Cut
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By Kim-Mai Cutler and Stanley White

Dec. 17 (Bloomberg) -- The dollar fell to a 13-year low against the yen and the weakest versus the euro in 11 weeks after the Federal Reserve cut its target interest rate to the lowest among the world’s industrialized nations.

The U.S. currency also declined after the central bank said it will expand purchases of debt securities to fight the recession. The yen stayed higher after Japan’s finance minister said he’s ready to take steps in the currency market. The pound fell to the weakest on record against the euro after minutes from the Bank of England’s Dec. 4 meeting showed policy makers unanimously cut borrowing costs to the lowest level since 1951.

“We have a negative dollar outlook into next year,” said Paul Robson, a London-based currency strategist at the Royal Bank of Scotland Group Plc. “The dollar’s moved lower as there’s an increased perception that the Fed has one hand on the printing press while rates look like they are holding fairly stable in Europe.”

The dollar fell to 88.18 yen, the lowest since August 1995, before trading at 88.37 yen as of 10:48 a.m. in London from 89.05 yen yesterday in New York. Against the euro, the dollar wakened to $1.4123, from $1.4002 yesterday, after touching $1.4192, the lowest level since Sept. 30. The euro was at 124.95 yen from 124.71 yen.

Below BOJ Rate

The Fed lowered its target rate to a range from zero to 0.25 percent, from 1 percent, below the Bank of Japan’s 0.3 percent rate. The U.S. central bank reiterated plans to buy agency debt and mortgage-backed securities and said it will study buying Treasuries, a policy known as quantitative easing.

The Fed’s debt purchases will cause the dollar to weaken to $1.4860 per euro, strategists led by Robert Sinche, New York- based head of global currency strategy at Bank of America, wrote in a research note yesterday. The Fed has reduced the scarcity of dollars and investors have slowed the deleveraging process, which drove the greenback to a 2 1/2-year high against the euro in October, Sinche said.

“Those temporary supports for the dollar appear to have eroded,” Sinche wrote. “Aggressive quantitative easing by the Fed should add to U.S. dollar supply globally and undermine the value of the dollar.”

The fed funds target was cut to below the BOJ’s rate for the first time since 1993. Japanese policy makers struggled in the 1990s to revive growth as the combination of deflation and recessions stranded the nation in the so-called Lost Decade.

‘Secondary Concern’

“The Fed is saying providing liquidity is more important and that the dollar is a secondary concern,” said Tohru Sasaki, chief strategist in Tokyo at JPMorgan Chase & Co. and a former chief currency trader at the Bank of Japan. “As long as the dollar declines gradually, it’s not a problem for yields and inflation. The Fed can concentrate on providing liquidity.”

The dollar may decline to 85 yen by June, he said.

Japan’s Finance Minister Shoichi Nakagawa said the government is ready to take steps in the currency market to help the economy, Dow Jones Newswires reported. Nakagawa earlier told reporters he isn’t considering intervention now. Central banks intervene when they buy or sell currencies to influence exchange rates. Japanese stocks pared gains as a stronger yen may erode exporters’ earnings.

The Japanese government needs to take action on the yen ‘swiftly,’ Honda Motor Co. President Takeo Fukui said at a press conference today. The country’s second-largest automaker today cut its operating profit forecast for a third time for the year ending March 31 to 180 billion yen ($2.03 billion) from a prior estimate of 550 billion yen as yen gains push up prices for overseas customers and the global recession crimps demand.

Dollar Index

The ICE’s Dollar Index, which tracks the greenback against the euro, the yen, the pound, the Canadian dollar, the Swiss franc and Sweden’s krona, fell 0.7 percent to 80.074.

“The impact on the dollar is negative,” said Toru Umemoto, chief currency analyst in Tokyo at Barclays Capital, a unit of Britain’s second-biggest lender. “In a financial crisis a central bank should buy whatever it deems fit. The Fed hasn’t set any target to its quantitative easing. One risk is this will damage the central bank’s balance sheet.”

The U.S. currency may decline to 85 yen in the next six months, he said.

Yields on two-, five-, 10- and 30-year U.S. government debt yesterday touched the lowest levels since the Treasury began regular sales of the securities. Gold declined, ending a seven- day rally by falling to as low as $846.75 an ounce.

The dollar fell 12 percent from a 2 1/2-year high of $1.2330 per euro on Oct. 28 on reduced demand for short-term funding in the greenback.

Libor Declines

The cost of borrowing in dollars for three months in London fell yesterday on speculation policy makers will keep pumping cash into money markets to spur bank lending. The London interbank offered rate, or Libor, that banks say they charge each other for such loans dropped 0.02 percentage point to 1.85 percent, the lowest level since September 2004, British Bankers’ Association data showed.

The U.S. currency fell 21 percent against the yen this year, the most since 1987, as more than $1 trillion of credit- market losses sparked a seizure in money markets and threw the U.S. economy into a recession.

The Group of Seven, which comprises the U.S., Japan, Germany, the U.K., France, Italy and Canada, propped up the dollar in 1995, when it declined to a post-World War II low of 79.75 yen.

The last time policy makers intervened, Japan sold a record 20.4 trillion yen in 2003 and 14.8 trillion yen in the first quarter of 2004, when the yen rose as high as 103.42 per dollar. Japan hasn’t bought yen since 1998, when it spent 3.05 trillion yen as the currency reached as low as 147.66.

“If the Bank of Japan does not act within the next 24 hours, the risk is that the yen crosses will begin to correct back,” Bank of New York Mellon Corp. said in a report received today. “This would in turn send dollar-yen materially lower and invite speculators to test the Bank of Japan’s resolution.”

The pound traded at an all-time low against the euro for an eighth day after central minutes showed policy makers voted 9-0 to cut the nation’s benchmark on Dec. 4 to 2 percent and a report showed unemployment rose at the fastest pace since 1991.

The British currency weakened to 91.50 pence per euro from 89.94 pence yesterday. It fell to $1.5437 from $1.5581.

To contact the reporters on this story: Kim-Mai Cutler in London at kcutler@bloomberg.net; Stanley White in Tokyo at swhite28@bloomberg.net

Last Updated: December 17, 2008 06:11 EST

[bumper]

I haven't completly lost my mind I realize the news release about Politics. But there is a very telling few sentences about the new PM and the Baht. That doesn't look real good for foriegn currency holders. hats one more iron out of the fire.

The one thats still in. political unrest in the paper today they Police chief in Bangkok say he expecting 30K red shirts at the first Parliment meeting. We have seen actions filed already in oppostition to he new PM. Is tha goign o lead anywhere hey this is Thailand who knows.

The two othre things that came out of article, if the unrest coninues there is no plan that will work. Lastly that he sees Thailand in a worse position today then 1997, but he is rejecting the idea of devaluing the baht.

So what now we a wait and see, the dollars going to be down by all indications thus far. No immediate plan to lessen the value of the baht. The wild card the political side.

Read today where South Korea has a major sale going on, the yen is so much higher shoppers are flying over from Japan and buying like crazy. Doesn't sound like Thailands is going to be getting a piece of that action.

Govt has populist agenda
Thaksin-style policies won't be abandoned

BANGKOK POST AND REUTERS



The Democrat-led coalition government will stick with Thaksin-style populist polices in tackling the country's economic slump, which it believes could be worse than the 1997 financial crisis.

Populist polices aimed at helping grassroots people in rural areas were pushed hard by MPs from a faction controlled by influential Buri Ram politician Newin Chidchob, the Phum Jai Thai party and Ruam Jai Thai Chart Pattana in a meeting yesterday to set the direction of the new administration.

Prime minister-elect and Democrat leader Abhisit Vejjajiva will head a team to handle economic affairs. Democrat deputy leader Korn Chatikavanij is tipped to take the finance portfolio, according to party secretary-general Suthep Thaugsuban.

The Newin faction's proposals include the continuation of the small, medium and large community lending programme, village funds, monthly welfare allowances for the elderly and policies to help the unemployed, measures to help farmers and to stop the free-fall in prices of agricultural products.

It also proposed amending the constitution with the greatest possible public participation.

But Boonchong Wongtrairat, a Nakhon Ratchasima MP from the Newin faction, said charter amendment was not an urgent issue and denied the group was seeking amnesty for anybody.

Pornthiwa Nakasai, an MP from the Phum Jai Thai party (the reformed Matchimathipataya) said the party had also proposed similar policies, in particular measures to cope with the economic problems which are expected to leave hundreds of thousands of people jobless next year.

Ruam Jai Thai Chart Pattana secretary-general Pradit Phataraprasit said coalition parties agreed that policies from previous governments that had proved to be yielding good results would be maintained.

Mr Korn confirmed that the new government would stick with populist policies and help farmers cope with falling commodity prices through government buying schemes.

He admitted that the economic problems now were greater than during the crisis a decade ago.

"It's tougher this time, not because of the magnitude of the (financial) losses, but because other channels are facing their own problems," he said.

In 1997, Thailand devalued the baht to make its goods cheaper overseas, but that strategy won't work this time, he said.

"We can't easily trade our way out of this trouble," he said, noting that Thailand's three biggest export markets, the United States, Japan and the European Union, were facing recession.

Mr Korn admitted that political divisions needed to be fixed quickly to restore investor confidence and attract foreign money back to an economy driven by exports and tourism.

"The political strife clearly has an impact on the economy. If we can't resolve it, no matter how good the economic policy is, we will not be able to implement it successfully."

The coalition parties will meet again on Friday to thrash out the details of the government policy platform.

Mr Abhisit will today travel to meet and listen to representatives from the agricultural, tourism, labour and industrial sectors that have all been hit hard by the economic downturn.

Democrat spokesman Buranat Samuttharak said after the party's victory in forming the new government, members have now found themselves unable to visit northern and northeastern provinces, which are the strongholds of the Puea Thai party - the reincarnation of the dissolved People Power party.

He urged people in those provinces to give the party a chance.

Somchai Phetprasert, a Puea Thai MP for Nakhon Ratchasima, said the party would set up a monitoring team to keep a close watch on each minister of the Democrat-led government.

The opposition Puea Thai's first job is to prepare a team of MPs to question the new government's policy platform to be delivered to parliament as a constitutional precondition to legalising its administrative powers.

[bumper]

Delevering Process:

Wasn't sure what it was but I have sure seen a lot of Central banks trying to stop it

So I looked it up:

http://www.investorglossary.com/deleveraging.htm

Lots of talk about the Japenese stepping into control the yen today, lets keep our fingers crossed I think that will help us. Also seem to be a move on for Thailand to consider reducing it's rates again another help. Euro and Pound are doing better on the exchange. So not bad for everyone.

Man talk about a short honeymoons, I see nothing that says the country will unite but everything saying it won't. I know there have been a lot pledges that the DAAD will not do the same things as the Pad. But, remember the PAD didn't start out that way either. Where is all this goign don't know. But everything that I have seen for the past two years in this thread tells me it won't be good for the baht. Hey I've been wrong before

Thaksin's phone-in casting doubts on Govt, vowing to return
By The Nation


Former prime minister Thaksin Shinawatra made a telephone call to his supporters on Wednesday's night raising doubts whether the government can tackle economic woes and vowing to return to his homeland.
Thaksin's phone-in happened during the fund-raising dinner for the "Truth Today" rally. It also coincided with the inauguration of the Abhisit Vejjajiva government.


Thaksin attacked the grabbing of power by concerted efforts of the judiciary, the military and the Democrat Party.


He said he doubted whether the Democrat-led coalition would last or be able to solve any problems since it had to pay high prices in the form of money, Cabinet quotas and cars in exchange for the coalition alliance.


He added that he was confident he could stage his comeback and return to serve the country once again.


Of 70 Chinese banquet tables, about 30 were filled raising about Bt500,000 per table. Organisers said they collected Bt17 million, half of the targetted funds, from the event.

[nevket240]

For the dollar puveyors out there.

http://news.goldseek.com/MerkInvestments/1229533200.php

regards

[bumper]

Wow!!!!

Hope Ron doesn't read that one, we may have to assemble an invasion force for him

[aznyron]

well I also read part of nevket url post so what I read is Ben B. is looking to strengthen the USD
correct me if I am wrong which is good news but way to late

[bumper]

No I think just the opposite.

But remember I reserve the right to wrong.

Truth is there seesm to be a lot of punting going on all over the world. I have abolutley came to the conclusion that no one really has the right answer. We have a recession to ride out. Hopefully it will go no further then that.

I was impressed with out new PM in that he is the frist that I have to admo it the financial situation of Thailand. That the first step recognizing what is sitting in front of you. I wish he had said he wated to devalue the baht but that is not his position.

All that being said we may never know if he is right. The conflict won't stop.

Thailand is trying, got a call from a friend in the states this morning and he purchased two one way tickets to Thailand for as I recall less then 5K baht on Air Asia. A full plane load at that number would not pay for the fuel. SO the country it would seem must be chipping in.

I recently had a vconversation with Kmbo my hero, we are still tying to figure waht the actual net of exporting one car fo rom Thailand is. Keep in mind they are only assemblying them here. So the parts are imported and paid for. The gross numbers are given a export numbers. So that can be very misleading.

Jimbo's gues and as good as any I have heard one car equals one tourist.

By the way I signed up for that news letter, right or wrong. it's a good presentation Very thought provoking and since this all learning to me I enjoy the input.

Best guess baht and dollar both will go down where that leaves us darned if I know.

[nevket240]

Ron.
Bernanke has to allow the US$$ to be devalued. It will not happen overnight but must happen.

regards

Back in Udon for new year, bringing the 15yo son. It is ceratinly "not same" as Oz. Oz $ has strengthened a leetle. But considering the state of affairs in Thailand the Bt is definitely being propped up artificially. 2009 will be a looonnnggg year.

[bumper]

Now we wait and see if he actually gets to implement it, this not the first time we have heard this. I think he has the right idea but the others have been stopped in their tracks, maybe this will be different.

Thai Stocks, Baht Gain on Premier Abhisit’s Spending Pledge
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By Anuchit Nguyen and Clarissa Batino

Dec. 18 (Bloomberg) -- Thai stocks posted their longest winning streak in almost four years and the baht rallied for a 10th day after Prime Minister Abhisit Vejjajiva pledged a stimulus package to spur growth and restore confidence.

The SET Index rose 5.78, or 1.3 percent, to 451.72 at the close, completing an eight-day, 15 percent climb, the longest since Feb. 10, 2005. It’s also the fifth-biggest gainer among 90 major indexes tracked by Bloomberg, since Abhisit’s Democrat Party on Dec. 6 formed a coalition government. The baht strengthened as much as 0.4 percent.

“There will be more economic measures to help create jobs and stimulate consumption after virtually zero polices during the political deadlock,” said Sukkawat Prasurtying, chief investment officer at Manulife Asset Management Co., which manages about 5 billion baht ($145 million). “The new government should receive more support from business and most related parties.”

Abhisit was elected by the parliament this week, ending months of paralysis amid a protest by middle class Bangkok citizens. He will announce an economic stimulus package as soon as his government presents its policies to Parliament at the end of the year, the premier said at a press conference yesterday after an individual Adulyadej endorsed his appointment. It would cover all sectors.

Italian-Thai Development Pcl and Ch. Karnchang Pcl led gains in construction stocks on speculation that more roads, bridges and other public works will be commissioned. Land & Houses Pcl and Quality Houses Pcl climbed on optimism improving confidence will increase demand.

‘Improving Political Situation’

The baht strengthened to 34.40 a dollar, the highest since Oct. 22, before trading at 34.42 as of 4:31 p.m. in Bangkok, according to data compiled by Bloomberg. It was the currency’s highest level against the dollar in eight weeks. The baht has gained 3 percent this month, trimming its annual loss to 13.6 percent.

“The baht’s strength has a lot to do with the improving political situation,” said Carl Rajoo, an economist at Forecast Singapore Pte Ltd. “The prime minister’s move to reach out to the rural farmers is good” and could be the key in restoring political stability, he said.
Ten-year government bonds snapped a four-day rally. The yield on the 5.625 percent note due January 2019 increased eight basis points to 2.49 percent, according to the Thai Bond Market Association.

Airport Closure

The protesters, demanding the resignation of previous premier Somchai Wongsawat, occupied government buildings and brought the nation to a virtual standstill, forcing the closure of the capital’s airports for eight days last month and sparking violent clashes with police that helped send the markets down 47 percent this year. Abhisit became the country’s third prime minister in four months.

Italian-Thai, Thailand’s biggest construction company, rose 6 percent, to 2.42 baht. Ch. Karnchang, the nation’s second- largest contractor, jumped 8.3 percent to 3.90 baht, the highest since Oct. 2.

Land & Houses, the nation’s biggest homebuilder, climbed 3.9 percent to 3.74 baht, its highest close since Nov. 5. Quality Houses, the country’s third-largest, jumped 6.7 percent to 0.96 baht, the highest since Nov. 10.

Kim Eng Securities (Thailand) Pcl, the biggest stock brokerage by trading volume, rose 2.9 percent to 8.95 baht, on speculation higher share-trading will increase commissions. Bualuang Securities Pcl, a brokerage unit of the country’s biggest bank, advanced 1.9 percent to 8 baht, completing a four- day, 27 percent gain.

Turnover on the Stock Exchange of Thailand was about 16 billion baht ($464 million) this month, 60 percent more than the daily average in November, according to the exchange’s data.

True Corp., the nation’s second-largest fixed-line phone operator, climbed for an eighth day, gaining 3 percent to 1.55 baht, on optimism the company will win shareholders’ approval for a 20-billion baht rights offer in a meeting tomorrow. That was the stock’s longest winning streak since Jan. 9, 2001.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net; Clarissa Batino in Manila at cbatino@bloomberg.net.

Last Updated: December 18, 2008 06:39 EST

[aznyron]

what the latest news ? all I see is the USD getting weaker and the Euro getting stronger and the Thai baht having wonderful holiday exchanging USD & GBP to thai baht while the country is in turmoil Military appointing the new P/M tourism down over 50% airports lock and closed for over two weeks red shirts & yellow shirts throwing bombs and shooting at each other Countries advising there citizens to avoid thailand
plus the problems in the south of thailand have not settled yet exports down over 50% since it to expense to buy goods made in thailand & what else am I missing if the USD & GBP is losing strength so should the baht and they should move in the same direction like 40 to 1 usd and 75 to 1 gbp every country except the Euro has lost in the exchange rate with the USD some thing wrong with that PIX