thai baht rate update

[High till Dry]

Originally Posted by 84gunner

well, have oredi settled down in current job some time back, juz damn busy, until rather frustrated recently, have a little break, so come in here for some "entertainment".

when going back to bkk? I've bought my tickets for aug liao...

[justl00king]

Seems like the rates slowly creeping back upwards...any updates?

[SmallD]

was in bkk airport this evening. SCB echange rate at 21.81 just for your information

[me|zuo]

Thai PM agrees on measures to weaken baht

BANGKOK : The Thai prime minister on Friday agreed on new measures aimed at curbing the baht's rise, while the central bank governor insisted the country would not return to a fixed exchange rate system.


"My government has a clear stance that we want to stabilise the currency," army-installed Prime Minister Surayud Chulanont said after meeting with top finance officials.


Surayud endorsed a package of measures laid out by his economic team, including Finance Minister Chalongphob Sussangkarn and Bank of Thailand governor Tarisa Watanagase.


Industry Minister Kosit Panpiemras said the cabinet was expected to formally approve the measures on Tuesday in hopes of weakening the baht.


Under the new rules, Thai firms will be allowed to keep foreign currency revenues for a longer period while also being encouraged to use dollars to pay down their debts.


Ordinary Thais would also be allowed to open US dollar-denominated bank accounts with deposits worth up to 100,000 dollars, Kosit said.


"The currency situation is improving as the baht is softening," Chalongphob insisted.


The baht was quoted at 33.62-66 to the US dollar in afternoon trade Friday, down from Thursday's close of 33.50-51.


Tarisa said the central bank was doing its utmost in an effort to halt the rising baht, which has remained at 10-year highs against the dollar, but stressed that Thailand would not go back to a pegged currency system.


"We cannot do things that are extreme such as (returning to) a currency peg system. We have to be moderate," she told reporters.


Thailand maintained a fixed exchange rate until 1997, when the currency came under speculative attack and the central bank exhausted its foreign reserves trying to defend it.


The decision to finally float the baht sparked the Asian financial crisis, sinking economies around the region.


A rising baht has alarmed the government as it puts pressure on exports, the key driver of the economy.


The strong baht makes Thai goods less competitive abroad and cuts the value of repatriated profits.

from CNA

[demon83]

22.05 ...went GM in the evening...

[High till Dry]

Originally Posted by SmallD

was in bkk airport this evening. SCB echange rate at 21.81 just for your information

wah bro,quiet quiet go bkk cheong alone huh?

let me know if there is any nice place to vist.

am going there to visit my tirak in a month's time...

[KatoeyLover69]

Report from Bangkok Post dated Sunday 22 July 2007 :-

Business wants a 35.5 baht

A recent poll has found most businesspersons want the baht currency be kept from rising any higher than 35.50 baht per US dollar, that the government promptly reimburse cash out of a 5 billion baht fund for Small- and Medium-Enterprise (SME) projects and that a general election as soon as possible.

According to a poll recently conducted by the Thai Chamber of Commerce University of 808 businesspersons, most respondents preferred that the baht, which they worried would even further strengthen to 32.50 baht per dollar in the near future, be contained from rising beyond the level of 35 baht per dollar, otherwise their businesses, especially those involving the export industry, would be immensely damaged.

Most respondents suggested the government promptly repay foreign debts and cut interest rates by 0.25 per cent to one per cent, compared to the current rates of 6.5 to 7 per cent, so that more liquidity would be flowing from banks to small- and medium-sized enterprises nationwide.

The government was also advised to promptly reimburse cash out of its Bt5 billion fund earmarked to reinvigorate the economy and provide financial support for varied SME projects, according to the poll.

The respondents suggested that the diesel price be maintained at 28 baht a litre and believed the national economic growth would reach 3.5 to 4.5 per cent throughout this year.

The domestic consumption and investment projects would remain sluggish until the political situation has unfolded, with a general election expected by the end of the year, according to the respondents.

However, 56 per cent of the respondents said they had no plans to lay off their employees as feared though they had been considerably affected by the rising baht.
--- KatoeyNewsNetwork

[forumer]

saw from xe.com that the exchange rate is around 19.8 baht to 1 singapore dollar..

wondering how come the money changers/banks can give us better rates than that...

[yinyang]

Originally Posted by forumer

saw from xe.com that the exchange rate is around 19.8 baht to 1 singapore dollar.. wondering how come the money changers/banks can give us better rates than that...

This only mid-market rate. Or some average of selling/buying rate. Not actual selling or buying rate. Also USD base (double conversion). See usd only <29++? So do not be misled.

Hope this helps.

[Devil73]

Originally Posted by forumer

saw from xe.com that the exchange rate is around 19.8 baht to 1 singapore dollar..

From xe.com not very zun....I've just checked the rate is around 21.98 from asiaone exchange. I think we go there thailand change maybe will be higher coz all the exchange rate from net will be lower following banks rate.

[84gunner]

Originally Posted by High till Dry

when going back to bkk? I've bought my tickets for aug liao...

dun tink I'm able 2 go BKK in aug. Anyway, PRC oso got lotsa fun, yet cheaper!!!

[High till Dry]

Originally Posted by 84gunner

dun tink I'm able 2 go BKK in aug. Anyway, PRC oso got lotsa fun, yet cheaper!!!

then i gotta saved up and look for u soon...

[forumer]

Originally Posted by yinyang

This only mid-market rate. Or some average of selling/buying rate. Not actual selling or buying rate. Also USD base (double conversion). See usd only <29++? So do not be misled.

Hope this helps.

thanks for the info...

any other websites with more "accurate" rates to the ones at money changers?

[High till Dry]

Originally Posted by forumer

thanks for the info...

any other websites with more "accurate" rates to the ones at money changers?

Alternatively u can visit the website of banks in BKK which gives you the actual rates there.

For example Siam Commercial Bank or Bangkok Bank.

Cheers!!

[justl00king]

Originally Posted by High till Dry

Alternatively u can visit the website of banks in BKK which gives you the actual rates there.

For example Siam Commercial Bank or Bangkok Bank.

Cheers!!

Today's rates form Bangkok bank.

SGD Singapore 21.96