Baht What up with Dat?????

[bumper]

BoT intervenes to stabilise Thailand's baht currency upon US dollar plunge
BANGKOK, Sept 17 (TNA) – The Bank of Thailand (BoT) has intervened to tame the baht’s fluctuation upon finding that the US dollar had weakened rapidly, according to a senior central bank official.

Pongpen Ruengvirayudh, Senior Director of BoT's Financial Markets and Reserve Management Department said economic indicators in the United States had significantly improved, showing investors were confidence in the economic recovery and were ready to take greater risk.

Under the circumstances, the US dollar had flowed into the stock and bond markets more than usual, resulting in the baht strengthening quite rapidly.

Thailand central bank believed it necessary to intervene in the baht’s movement to ensure that the currency neither fluctuates nor strengthens too rapidly.

“We are not the only central bank intervening to supervise (the national currency) in the past one or two days. Other central banks in Asia attempted to oversee their currencies because the greenback has weakened rapidly.

“We believe the global financial market remains volatile and the baht is likely to strengthen or weaken depending on economic indicators in the US,” she said. (TNA)

[bumper]

Looks like it is easing back up Bloomberg showing 33.80 today.

Be nice to see 34 again by payday .

KResearch: baht to trade in the range of 33.60-33.90 baht per US dollar next week
BANGKOK, 19 September 2009 (NNT) – Kasikorn Research Center (KResearch) forecasts baht to move in the range of 33.60-33.90 baht per US dollar next week.

KResearch said that the factors, which should be monitored next week, included the political factors such as the rally of the United Front for Democracy against Dictatorship (UDD) and the direction of the currencies and stock markets in the region, including the Central Bank, which might stabilize the baht.

The US dollar direction might depend on the important economic figure reports such as the economic indicator index of the Conference Board and the durable goods purchasing order, second hand houses and new houses in August, including the consumer confidence index.
Investors should monitor the monetary policy committee meeting of the US during September 22-23 and the G20 meeting, which will be held on September 24-25.

[aznyron]

Bump we can forget about seeing 34 those M/F wont let that happen they making to much money
at 33 maybe when Thaksin becomes the first president of thailand we might see 36 or even 37 and the possibility of 40 he much smarter that those in power now he does thing for the poor workers & farmers
which are hurting now exports down tourism down and baht to high I will not call it strong I will call it inflated

[bumper]

Either way they make money.

International reserve skyrockets
BANGKOK, 20 September 2009 (NNT) – Thailand’s international reserve has soared to 136 billion USD in one week due to the central bank’s buying of US dollars to control the baht value.

The Bank of Thailand (BOT) reported that the country’s international reserve as of 11 September had increased by 2.2 billion US dollar or about 74.8 billion baht from the past week. The bank said the rising reserve was a result of its policy to prevent the baht from appreciating more than 34 baht against USD.

The foreign currency forward exchange is currently 14.1 billion USD or about 479 billion baht, increasing by 600 million USD or about 20.4 billion baht from 13.5 billion USD in the previous week.

The BOT explained that the buying of US dollars in the forward exchange market had reduced the US dollars in the market and prevented the baht from appreciating too fast.


News ID: 255209200011

Reporter : Ekarin Bumroongpuk
News Date : 20 September 2009

[aznyron]

Bump they are buying USD for there future when the baht go in to the tank then they can buy it back at 40 to 1 they are clever in the mean time they keep the baht at 33 if they paid that much attention to getting the country on the right track they Thailand would not be a 3rd world country any more and just were are they getting all this money to buy USD are they printing it LOL

[bumper]

Yes they are buying dollars while they are cheap pretty smart move I think. That keeps the dollar up a bit for us as well. No complaints here.

[aznyron]

well what up with the baht SCB has it at 33.09 KK has it at 33.15 on the news last night I heard His Royal majesty is sick so why is the baht going in the wrong direction ? do I sense some fear of being shoved out of the $$$$$$$ market I have not read or heard any thing about the USD getting weaker and I have not seen any thing that warrants the baht to get stronger how I hate using that word because it not getting stronger it being inflated more Bump we will not see any difference in the thai baht until the current power brokers are gone now let get real you honestly believe living in Thai. is cheaper I don't when you do the math first start off at 40 to 1 then you will see it cost you more to park your laurels in this country as for my opinion is when you take 8000 baht off the top of every thousand dollars you get then do the cost of living and you find out it more expense to live here since your paying thai bank 8K for 1K of the USD there are scamming us big time so I pay 16000 baht every month that the price of a real nice apartment in El paso Texas and you all can tell me to go home and I am really giving it some thought I wish I was not married I would have left this F*** hell hole 4 years a go you can even get a glass of water out of the tap with all it rain you call this living I don't and I do not care what any of you think it should be 40 to 1 and I will not budge on that Adios

[bumper]

Ok Ron, the dollar has been down all week.

I'm going to attempt to say this as nicley a I can. Your married you have wife. If you can do better In El Paso then she should follow you.

As to cost of living I'm OK for the moment. Everyhting I own is here, so I can do better here then renting an apartment in the states.

Ron this is where I want to be so this is where I live.

I did not mean to be rude. But, you have to live this part of your life the best way you can. Unless the Budhist are right this is it. Wife or no wife I'm staying here.

Watch the dollar Ron. For whatever reason they are not buying them right now. They chased the dollar in 97 and it was a huge mistake. This is not going to be cake walk no matter where you are. But, me I'm going to live where I'm happy and hope everyonelse can do the same. If not, never forget it was and is your choice.

[Flo]

well what up with the baht SCB has it at 33.09 KK has it at 33.15 on the news last night I heard His Royal majesty is sick so why is the baht going in the wrong direction ?

Neither SCB, KK nor His Royal majesty started the multi trillion $ support for the US economy, so why do you blame them?

[bumper]

Ron it's time wake and smell the coffee this is not a Thai problem it's a U.S. problem. I don't like it anymore then you do but the dollar dropping. Thailand is doing it's best to care of Thai's. Would be nice if the States did the same. You can not look at this viewing just two aspects and understand it. It's a world economy now.

There was a time I would have agreed with you as little a 18 months ago.

Now you need top do what makes you happy. But, do the research first, you might jump out of the frying pan right into the fire.

FOREX-Dollar retreats on U.S. rate view; stg takes hit
Thu Sep 24, 2009 6:22am EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
More News
FOREX-Dollar retreats on U.S. rate view; euro up on Ifo
4:46am EDT
FOREX-Dollar soft after bounce, high-yielders gain
1:31am EDT Market News
Stock futures signal dip; Electronic Arts eyed | Video
World stocks fall ahead of G20 | Video
Oil drops towards $68 on demand concerns
More Business & Investing News... * Dollar falls 1 pct on day vs yen, focus on 90 yen level

* Euro pulls back from 1-yr high vs dollar after German Ifo

* Sterling takes hit after BoE individual's weak pound comments


(Updates throughout)

By Emelia Sithole-Matarise

LONDON, Sept 24 (Reuters) - The dollar fell against most major currencies on Thursday as investors shifted funds from the greenback after the Federal Reserve strengthened expectations interest rates will stay very low for a long time.

The dollar fell 1 percent against the yen as Japanese exporters back from a three-day market holiday bought the traditional funding currency, with traders targeting a break below the psychologically key 90 yen level.

Sterling extended broad losses, hitting its lowest level against the euro in more than five months after Bank of England Governor Mervyn individual said a weak pound was helping to rebalance the UK economy. [ID:nLN641036]

The U.S. currency pushed slightly above a 1-year trough against the euro after the German Ifo business sentiment index rose in September to its highest in a year but undershot forecasts of a stronger advance. [ID:nBEB002457]

Analysts said that in reiterating its pledge to keep interest rates at exceptional lows for a long time after this week's policy meeting, the Fed had sounded less hawkish than some had expected [ID:nN23390829].

"They're keeping policy very, very easy for an extended period. Because of that we've got a bias very much towards more U.S. dollar weakness in the medium term," said Stephen Koukoulas, chief global markets strategist at TD Securities.

"The U.S. is one of the weakest economies in the world not only from the business cycle in terms of GDP but also structurally... It's not a market that you'd be really wanting to put your money into unless you really had to," he said.



The dollar fell to 90.36 yen JPY=, its lowest in more than a week, according to Reuters data. Traders said there were a lot of option expiries and barriers at 90.00 yen and cited talk of repatriation from Japanese investors as the fiscal half-year end on September 30 looms.

"If we go through 89/90 it's going to come lower quite quickly. Basically we'll see what New York does with it," one trader in London said.

Continued...

FOREX-Dollar retreats on U.S. rate view; stg takes hit
Thu Sep 24, 2009 6:22am EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
More News
FOREX-Dollar retreats on U.S. rate view; euro up on Ifo
4:46am EDT
FOREX-Dollar soft after bounce, high-yielders gain
1:31am EDT Market News
Stock futures signal dip; Electronic Arts eyed | Video
World stocks fall ahead of G20 | Video
Oil drops towards $68 on demand concerns
More Business & Investing News... YEN UP BROADLY

The yen rose broadly, with the euro falling 0.6 percent against the Japanese currency to 133.70 yen EURJPY=R and the Australian dollar slipping 0.4 percent to 79.11 yen AUDJPY=R.

The euro rose 0.3 percent on the day to $1.4769 EUR= but this was still off a one-year high of $1.4845 hit on trading platform EBS the previous day.

The European single currency is likely to see more profit-taking after a brisk rally that has boosted it nearly 3 percent so far this month. But this is expected to be a temporary correction.

With U.S. rates set to stay near zero for some time, investors are likely to resume funding carry trades in dollars, sending the dollar lower once more.

"We expect to see EUR/USD rise to at least $1.5000 by the end of the year and wouldn't rule out re-testing last year's highs at some point," analysts at TD Securities said.

Sterling fell 1.3 percent on the day against the euro EURGBP=D4 to 91.27 pence, its weakest in more than five months, and was about 1 percent down on the dollar at the day's low of $1.6186 GBP= by 0948 GMT.

Meanwhile, the New Zealand dollar rose 0.5 percent to $0.7228 NZD=D4, crawling towards Wednesday's high of $0.7315, its strongest since early August 2008.

The Australian dollar, another higher-yielding currency, climbed 0.4 percent to $0.8736 AUD=D4, rising towards a 13-month high of $0.8790.

(Editing by Nigel Stephenson)

[arjay]

Ron, as said before, it's nothing to do with Thai banks, baht strength or conspiracies. It's down to the weakness of the dollar and pound because our countries buggered up their economies (or our greedy UK bankers did)!!

[bumper]

Ron just go to google type in U.S. Dollar. The information is there. I know it's frustrating I was hoping the BOT would keep buying dollars to keep the rate at 34. They probably have seen the hand writing on the wall and have stopped.

Dollar to Fall as U.S. Assets Lag, Barclays’ Englander Says
Share | Email | Print | A A A

By Thomas R. Keene and Oliver Biggadike

Sept. 17 (Bloomberg) -- The dollar will weaken as U.S. investors send money overseas and the nation’s assets fail to attract global investors, said Steven Englander, chief currency strategist for the Americas at Barclays Capital Inc.

“Even though U.S. asset markets are doing well, they’re not doing well enough,” Englander said in an interview with Bloomberg Radio. “The question is, what is there in the U.S. to attract capital? And that answer is hard to find.”

Net buying of long-term equities, notes and bonds totaled $15.3 billion in July, compared with purchases of $90.2 billion in June, the Treasury Department said on Sept. 16. Including short-term securities such as stock swaps, foreigners sold a net $97.5 billion in July, compared with net selling of $56.8 billion the previous month.

Emerging economies such as China and Russia have questioned the dollar’s dominance in the global economy because of a federal budget deficit projected to exceed $1.5 trillion in the fiscal year that ends Sept. 30. Investors abroad reduced purchases of Treasuries by more than a third in July from the prior month and were also net sellers of U.S. corporate and agency debt.

The Standard & Poor’s 500 Index of U.S. stocks has gained 17 percent this year, lagging behind the 60 percent increase in Brazil’s Bovespa benchmark and the 28 percent advance in Canada’s S&P/TSX Composite Index. The Canadian dollar will probably rise to parity versus the U.S. currency from C$1.0658, or 93.83 U.S. cents, Englander predicted.

‘Fighting This Recovery’

The dollar traded today within a penny of its lowest level in a year versus the euro and has fallen this month against all of its 16 most actively traded counterparts. The Dollar Index, which tracks the U.S. currency against the euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc, has fallen 6.3 percent this year to 76.21.

“We don’t think that global investors have enough risk on,” Englander said. “A lot of investors have been fighting this recovery, fighting the asset-market recovery, and they’re beginning to throw in the towel.”

The Dollar Index declined 15 percent from its three-year peak of 89.62 on March 4. The dollar fell the most this month against higher-yielding currencies including the South African rand, Brazilian real and New Zealand dollar.

Barclays raised the bank’s forecast for the Canadian dollar to C$1.02 per U.S. dollar in six months, from C$1.10 earlier, and to parity in 12 months, from C$1.06 earlier this week.

Bank of Canada

The loonie appreciated 14 percent against the U.S. dollar this year after losing a record 18 percent in 2008. Its strength is creating “headwinds” that threaten the nation’s economic recovery, Bank of Canada Deputy Governor John Murray said on Sept. 15 in Berlin. A stronger Canadian dollar makes the nation’s exports more expensive.

The gain in Canada’s dollar prompted speculation the nation’s central bank is intervening to weaken it. A Bank of Canada spokeswoman, Stephanie Bento, said today that any intervention would be announced on the central bank’s Web site.

To contact the reporters on this story: Thomas R. Keene in New York tkeene@bloomberg.net; Oliver Biggadike in New York at obiggadike@bloomberg.net

Last Updated: September 17, 2009 17:42 EDT

[aznyron]

I am just getting wild & crazy as well as scared I am going to try a different idea I posted it in 150 atm charge thread. you know when your money depreciates and your unable to do any thing about that scary
and your brain get crazy which is what happen to me no I am not running yes I understand a little about what going on just last week I thought I saw some hope but I guess that was just a dream

[bumper]

That a fact Ron, Bloomberg showed the baht at 33.54 today the stuff your looking at the factoring in the 150 Baht charge I believe. You can beat that at the pretty pink ATM's. I don't blame you for worrying but it really helps if have an accurate picture. this won.t last forever. But we got a rough road ahead.

I'll let you know what I get with Bank of Bangkok with direct deposit this next month.

In watching the news on Bloomberg tonight a part of the discussion at the G-20 meeting will be the dollar. The rest of the countries are afraid the states will end up to much advantage on exports with the dollar value so low. So we are not the only ones concerned.

How are the other currencies doing agianst he baht guys?

[bumper]

strongest value of Thai Baht this afternoon was 33.55 against the greenback and the weakest was at 33.58 against the greenback.
Thai Baht closes at 33.55-33.57 against USD
BANGKOK, 24 September 2009 (NNT) – Thai local currency closed at 33.55-33.57 against the greenback after the market in the afternoon trade session closed today.

The
Thai Baht is expected to trade slightly weaker in the range of 33.50-33.65 against the greenback tomorrow in line with other major currencies such as the Euro and the Pound Sterling.


News ID: 255209240062

Reporter : Wanitcha Sumanat
News Date : 24 September 2009

[Stantheman]

I am afraid it will be a few years before the dollar (and the Pound) gains back much of what has been lost due to it's weakness. Until the U.S. job, housing and financial markets improve consumer spending will stay low. Without an increase in consumer spending, thus consumer borrowing, the interest rate in the U.S. will remain very low and this low interest rate drives investers to other countries where they can get better returns on investments. I am not a fortune teller, but I can see the Dollar/baht exchange rate to stay around or below 33.5 for the foreseeable future, which really kisses the big one for fixed income retirees. This is one of the main reasons I have still not moved permanently to our home in Udon.

[rick]

Well, for us Brits things are looking bad again, Pound down 3 baht in 10 days. Not yet down to that horrifying 48 baht again - yet. If it hits the 50 mark, time for us too tighten the belts and drop the bars, i fear. Should have joined the euro years ago, but too many sentimental dumbos and craven politicians.

[bumper]

Funny Gieger says he supports the strong dollar and will do something about it. Stock exchaange dropped 3% overnight and it's 33.68 this morning. Just crazy. Pound holders I feel for you guys this is not fun. You would think by now us dollar folk would usedit. But, I don't think so.

[Aardvark]

The Oz is about 87.3 to the US today and about 29.1 baht to the Ozzy. We're creeping up nicely

[bumper]

Good for you. At least tjhere are some doing better not all bad.