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Baht too strong - urgently needs freedom to float

By oldexplorer, Created on: 12/03/2009, Last updated on: 04/11/2015

» As the massive Chinese economy begins a freefall descent in response to the Western financial collapse, the Abhisit government needs to assist Thai exports by allowing the Baht to float downwards. Keeping the Baht slavishly locked to the US Dollar is short-sighted, and will simply make Thai exports...

• DKO commented : [quote="Ian":3j3onyjd]Dave if you look here http://www.tititudorancea.com/z/gbp_to_ ... i_baht.htm At the 30 day chart, you will see that the Pound seems stable around the 50 mark, plus or minus 1 Baht. I agree one can see clear correlations between the dollar fluctuations and also stock market activity. The Baht boat has not yet hit the rocks, the future is not clear. Hang in there friend.[/quote:3j3onyjd] It may look small Ian but the range is actually 4.6% and is up and down daily (or nearly daily). Even only 16 months ago you would not get movement like this in weeks or months. Lets put that 4.6% into perspective. When I draw my pension via ATM of 900 GBP. (no charges until 1st June when I get hit for a 1% Visa Exchange rate conversion charge but no commission charges still ) If I get my money at 49.3984 Baht to 1 GBP I would get 44,459 Baht At 51.94656 to 1 GBP I would get 46,752 Baht. A difference of 2,293 Baht I feel a 30 day difference of budget of 2,293 Baht where it is worth 3 times or so more in buying power in Thailand compared to the UK is significant. Of course the added problem is that I cannot get my money out by ATM in one day, and over the next two days it often moves down in this range costing me some 1,600 baht on average purely coz of My Bank's ATM limits of 300 GBP per day (similar to many UK banks limits). VERY FRUSTRATING trying to guess/hold out for three good ER days and not always possible if I get a big bill that has to be met.. Even then it is impossible to work out exactly what rate the ATM will apply at any one time of the day. I have tried following the pattern of Bangkok Bank T/T rates (seems closest) for when changes are applied to ATM withdrawals but its all over the place (except weekend where I have found what it is Sat morning is the same Sun morning and before 8am Monday morning. All I need is a great rate at the end of Friday then I can get all my month's pension out on that rate over the next 3 days. Am Hanging in my friend by the finger nails when Visa renewal time comes if things do not improve. More bad news I see the UK RPI for Feb '08 to Feb'09 is ZERO so NO increase to my Pension this year Dave

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