As discussed in other threads, I have also noticed the offshore rate has increased dramatically, and still being advertised as the "international rate", meaning offshore.
The UK pound was 61 ish a couple or one week ago, it is now over 68 to the UK pound, near enough on par with the "onshore" rate.
Anyone got any ideas, without bull*******.
so I think Thailand is just tidying up its finances:
Shortage of Baht
``It is a liquidity issue,'' said Yen Ping Ho, a currency strategist at JPMorgan Chase & Co. in Singapore. ``With the imposition of the reserve requirement and capital controls by the Bank of Thailand, it totally segregated the onshore, offshore market. There is a shortage of Thai baht liquidity offshore.''
Foreign investors who have investments in Thailand must submit requests to the Bank of Thailand between today and August 17 for the swap, Suchart Sakkankosone, exchange control director at the central bank, said July 9. They must show in the requests that they held hedging contracts before Dec. 19.
``This should help improve liquidity in the offshore market'' and narrow the gap between the rates, Ho said. ``The catch is it will only take place after some time.''
and the above is from:
http://www.bloomberg.com/apps/news?pid= ... .ev321j6w#
Whitedesire,Originally Posted by WhiteDesire
If it hits 90 please send me a PM!!
... the Thai system keeps a very close eye on their exchange rates, and unless something dramatic happens in the marketplace, then it will keep that way.
It was good though when it was 90 to the pound in 97, I was actually in Thailand literally when that happened.
This is an expat thing...tourists actually don't give a fuck!
I'm a tourist and I give a *****
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