bht vs UK pound

.... seems now to have stablised a little - now around 67-68 to the UK pound, even down a couple of bht against the US dollar, and probably one of reasons is to the chinese yuan being devalued very slightly last year, but fundamentally anyone know the reason why this is case. I find it very strange to have changed 7 or 8 bht in the past year or so. The US is putting pressure on the chinese to float their currency - wonder what is round the corner. Will the bht get even stronger!

You can expect the rate to drop to around 60bht to the ┬г at the end of April but wii increase dramatically at the beginning of June.

Guess when I'll be in Thailand - yes u've got it - May

[Jetsam]

You can expect the rate to drop to around 60bht to the ┬г at the end of April but wii increase dramatically at the beginning of June.



As long as that is the Bath to the ┬г alone and not to the тВм :clown:



Guess when I'll be in Thailand - yes u've got it - May

same here :cheers:

Today the bht the pound is 66 ish, and strangely enough the dollar is getting stronger against the chinese yuan around 8 to the dollar. The chinese yuan obviously has influence over the thai bht - you watch the bht get stronger over the next few months.

The exchange rate for the GBP at Bangkok Bank today 7th April was 65.48

Why do you think it will go up in June? I would be interested to know.

http://www.bangkokbank.com/Bangkok+Bank ... +Rates.htm (http://www.bangkokbank.com/Bangkok+Bank/Web+Services/Rates/FX+Rates.htm)

[wowpow]

http://img.photobucket.com/albums/v27/wowpow/Pund66.png UK Pound Today 66.6 I see no signs of stability just gradual descent to the Baht

http://img.photobucket.com/albums/v27/wowpow/Euro46.png Euro Today 46 looking stronger


http://img.photobucket.com/albums/v27/wowpow/Dollar38.png US Dollar c38 compare with the Yuan


http://img.photobucket.com/albums/v27/wowpow/Yuan.png Chinese Yuan - Curiously close to the US Dollar? is this chance?

graphs and prices per Yahoo Finance

TeePee like you I have been tracking the Baht on Yahoo lately and am amazed at its strength, particularly considering the unstable political situation in Thailand just now and am wondering if and when a correction will come. Your comment re the Chinese Yuan vis-├а-vis the USD being curiously close makes me thing that the Yuan must be tied to the USD but I may be wrong and would welcome any informed opinion on that. Certainly your (YahooтАЩs) graphs would indicate that it is tied.
Does anyone reading this thread have any substantive opinion on the future of the baht in the short term?

[wowpow]

The the Baht is declared to float free it seems ties to the Yuan pretty closely. Under pressure from the USA the Chinese keep saying that they will aloow the , very undervalued, Yuan to rise and have allowed it to so do but little. Is this pushing the baht higher. The other major though is that both countries import a lot of oil and all oil is traded in US Dollars so the high currency buys more oil though it pushes up the price of exports and prices for tourists and ex-pats.

The Pound has fallen from a peak of 77 baht to under 67 and that hurts those of us who live here on pensions and money from the UK. To bring in my Bt800,000 for my retirement Visa now costs me ┬г1424 more than when the pound was at it's peak.

Certainly in the near future I believe the bht will get even stronger. It is linked to a basket of currencies in Asia. But when the Chinese Yuan is eventually revalued, and I believe the chinese will do so little by little, the thai bht will follow suit, irrespective of anything. Unless there is an asian crisis of course or it goes too far and the Thai government intervenes or something. I suspect the Thai economy would prefer to see a weak bht. I haven't gone in depth of checking the exact business front but even with a "rocky government" at the moment, and a strong bht, it does show that fundamentally Thailand's economy is probably in good shape.

[wowpow]

BANGKOK: -- The Thai baht has appreciated to 38.03 to the US dollar, the strongest in seven years, before weakening slightly to stay around 38.07-38.08 to the dolar in the morning session.

A money dealer at Bank of Ayudhya Plc said the baht had strengthened in the same direction with other currencies in the region since there was a shift of investment into the stock markets and an expectation that interest rates of the countries in the region would increase further.

The dealer projected the baht would continue to appreciate to 38 to the dollar in the near future and perhaps to 37 to the dollar by this year. The Finance MinistryтАЩs Spokesman Somchai Sajjapong said the continued strengthening of the baht to 38 to the dollar stemmed from an inflow of foreign funds to acquire a steel company listed on the Stock Exchange of Thailand. However, he believed the appreciation of the local currency would proceed in the short run. The Bank of Thailand is closely monitoring the baht movement.

Should the baht strengthen for long due to an improvement in the economic fundamental, he said, the ministry would consider how the appreciation would have an impact on the countryтАЩs exports. Still, he thought the exports had not yet been adversely affected at current because purchase orders are normally placed around 2-3 months in advance.

--The Nation 2006-04-10 via www.thaivisa.com (http://www.thaivisa.com)

Thai baht hits six-year high against dollar
The Thai currency jumped to a six-year high against the dollar on surging foreign demand, sparking concern that the rising baht would hurt competitiveness of the country's exports.

The Thai baht closed at 38.14-17 to the greenback on Wednesday, compared with Tuesdsay's 38.02-05. It was quoted at 46.24-48 to the euro, against 46.08-


"The currency got a boost due to strong demand from foreign investors. Foreigners were buying up Thai assets and equities," said Kitti Nathisuwan, a senior economist at Macquarie Research Equities.

Demand for the Thai baht surged particularly after the central bank on Monday raised its key interest rate to 4.75 percent, the highest level since 2000, in a bid to tame inflation, Kitti said.

The rising baht raised concern over Thai exports, pressuring the Stock Exchange of Thailand (SET) composite index to close down 1.97 points or 0.26 percent to 755.43 on Wednesday.

The strong baht makes Thai exports less competitive in overseas markets and lowers the value of companies' repatriated profits.

Exports are the driving force of the Thai economy as they account for 60 percent of the country's gross domestic product (GDP).

The Thai currency also gained ground against the dollar as investors dumped the greenback amid concerns over a possible US military strike against Iran, Kitti added.

Oil prices neared 70 dollars per barrel Wednesday after Iran, the world's fourth-biggest oil producer, said it had produced the enriched uranium required to make nuclear fuel.

"All these factors added to support the Thai baht. If it continues to rise further, Thai exports would lose competitiveness in overseas markets," Kitti said.

"If there is no intervention by the Bank of Thailand, the currency could go up to the 36 baht level. But I don't think authorities would let that happen," he said.

The finance ministry and the Bank of Thailand will hold a meeting next week to discuss the rising local currency, a central bank official said. Thailand enters a long Buddhist new year holiday starting from Thursday.

The Federation of Thai Industries, the country's largest business lobby group, said food and textile exporters were already under pressure due to the rising baht and urged authorities' intervention to halt the currency rise.

"The baht is too strong and likely to further strengthen in line with other regional currencies," Santi Vilassakdanond, vice chairman of the federation, told AFP.

"The government should step in to help exporters. Otherwise, the overall economy would be affected," Santi said, adding Thai exporters make business plans based on their forecast of the currency trading 39-40 baht to the dollar.

Somsak Paneethatyasai, president of the Thai Shrimp Association, said the strong baht had already trimmed the value of overseas contracts by seven percent.

"Exporters have suffered as the baht has kept going up in the past two months. It's time for the government to intervene in the currency market as the baht is too strong right now," Somsak said.

Thailand is the world's largest shrimp exporter with a total of 280,000 tonnes worth 70 billion baht (1.8 billion dollars) shipped overseas in 2005.

http://sg.biz.yahoo.com/060412/1/400lj.html

Thailand is the world's largest shrimp exporter with a total of 280,000 tonnes worth 70 billion baht (1.8 billion dollars) shipped overseas in 2005.

Apparently this is a good way of measuring the bht to the UK pound. The total value of the shrimp market which = 70 billion bht divide by 1 million and it gives 70 bht to the pound. It is a little below this at the moment. But I suspect the market is worth around 67 million bht. Can Ikarus confirm this?