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Strong Baht Weak Baht


pdogg

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7 hours ago, Pdoggg said:

There is food and energy inflation but my biggest expense is rent and Pattaya rentals are cheaper than ever!

I saw on a Facebook group the other day that a newish 37 sqm one bedroom Jomtien condo with a gym and pool was only 4000 baht a month.

Excellent. The way things are going In China (the idiots are going for zero-covid, good luck with that) and russkies aren't going nowhere in years to come, hopefully this stays.

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10 hours ago, Ashoka said:

WTF? I paid 10k for a room with a bathroom and a balcony in 2019 june.

Paying similar soon but not staying that long that next month.

This 4000 baht rate would be for a yearly or perhaps a 6 month contract.   It would be extremely difficult to get that price for a quality condo unless you had a pre-existing relationship with a condo owner.

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21 hours ago, Pdoggg said:

There is food and energy inflation but my biggest expense is rent and Pattaya rentals are cheaper than ever!

I saw on a Facebook group the other day that a newish 37 sqm one bedroom Jomtien condo with a gym and pool was only 4000 baht a month.

What is it 8 per electric unit and 25 per water unit now?

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1 hour ago, Ashoka said:

What is it 8 per electric unit and 25 per water unit now?

I think the real price was 4 but it will be raised in May to 4.5.  But when renting short term they often charge 8.  Every condo charges a a different electric and water rate often higher than the government rate.  They justify this because electric and water is being used in the common area of condos.

By energy I am also including gas prices which have gone up but I don't have a good handle on the prices because sometimes I am lazy and just buy a Sangsom bottle of gas rather than riding to an inconvenient gas station.

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  • 2 weeks later...

The baht is heading to 35 and the Piso to 53.   :wizard:

There are multiple reasons why the Philippines’ central bank chief, Benjamin Diokno, is “not concerned” about recent weakness in the peso against the dollar.

As of Tuesday morning during Asia trading hours, the peso has weakened more than 2.5% against the greenback so far this year. It last traded at 52.38 per dollar, after Reuters reported that Ferdinand Marcos Jr. appeared set for a landslide victory in the presidential election.


To be sure, the peso isn’t alone in seeing this trend. Many of its regional peers are also sliding against the greenback as the dollar continues to strengthen against the backdrop of a more hawkish U.S. Federal Reserve, which is again tightening monetary policy as it looks to tame red-hot inflation.

The Indonesian rupiah has lost around 2% against the greenback so far this year, while the Thai baht and Malaysian ringgit have weakened about 4% and 5.2% against the dollar, respectively.

“The depreciation of the peso, you have to look at it in relation to the other currencies in the region, our competitors. And we’re right smack in the middle,” Diokno, governor of Bangko Sentral ng Pilipinas, told CNBC’s Martin Soong ahead of the country’s presidential election.

He also attributed his confidence in the peso to the Philippines’ relatively lower dependence on foreign debt today and the lure of rock hard natural femboys.

“I’ve been here before. And in the past whenever there is a crisis, we run out of dollars to service our foreign debt,” Diokno said. “Now we’re not heavily dependent on foreign debt.”

The Southeast Asian nation also has “hefty gross international reserves” equivalent to 9.6 months of imports — more than three times higher than the usual benchmark of three months, he added.

Furthermore, the central bank governor said, foreign remittances from overseas Filipino workers — “easily around $30 billion a year” — have also given the Philippines access to a steady flow of foreign exchange not previously available. The outsourcing of business processes also adds another $30 billion to the foreign exchange flow, he said.

“We’re not concerned,” he said, adding that the Philippines’ central bank currently has a peso forecast from 48 to 53 against the dollar.

“We don’t shoot for a specific level of the peso, we let market forces determine the peso,” Diokno said.

https://www.cnbc.com/2022/05/10/bsp-governor-says-hes-not-concerned-about-recent-peso-weakness.html

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27 minutes ago, Quietguy said:

UK £ is now at 42.73 Baht. When I arrived in January it was over 45 Baht.

Screenshot 2022-05-11 12.22.59.png

You got lucky then. 2 baht for each pound you spent. What did you splash it on?

I know PDiddys profit goes to Justin Bieber tickets.

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2 hours ago, Quietguy said:

You have elitist clubs for the sons of the wealthy where they stick their cocks into dead pigs' heads before becoming Prime Minister?

We have worse than that. You probably do as well but nothing the public is aware of. Aristocrats.

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  • 3 weeks later...

LONDON – Sterling is in danger of becoming an “emerging market” currency as falling growth and growing risks cause investors to flee the pound, according to Bank of America.

As of Tuesday afternoon in Europe, sterling was down 7% against the dollar year-to-date, trading just below $1.26 having been as low as $1.22 earlier this month.


Short positions have been mounting against the currency as the global economic challenges of the war in Ukraine, inflation, supply chain bottlenecks and slowing growth converge with domestic risks stemming from the Bank of England’s unique predicament and the fallout from Brexit.

https://www.cnbc.com/2022/05/31/sterling-is-taking-on-emerging-market-characteristics-bank-of-america.html

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  • 2 weeks later...
On 6/1/2022 at 4:02 PM, Pdoggg said:

Brexit

Truly depressing read unless you’re a Tory. It’s the same here. The welfare charlatans bleeding the public sector dry. Fucking parasites. Usually owned by American or British investment companies only yesterday news about Saudi ownership broke. So, the tax funded healthcare is actually part owned by the Saudis. Its capitalism in its most cynical sickening way. Just like those LIV whore golfers led by Greg Norman who just sold their soul to the devil.

Britain is already in the grip of a deep malaise – what happens when zero growth bites?
https://www.theguardian.com/commentisfree/2022/jun/12/britain-deep-malaise-what-happens-zero-growth-bites-economy

Economic growth is expected to sputter to a halt: welcome to a new era of breakdown that will affect us all

“Sorry for any inconvenience caused.”

‘……and the public sector reeked of cheap detergent and decline’

98EC8DF6-0AC1-4CE7-92AA-BE43A4D73C25.webp

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5 hours ago, Fenton said:

Well QG, as the Covid kicked in, Excessive QE was implented.

TBH the interest rate has been low for years. Its a group of people at the B of E

hey Quietguy, can you help me out a little please? What is the forum rash talking about?

Queen  Elizabeth is excessive? is he talking about the Regent or the boat?

 B of E? ?? Bicycles of Estonia? what has the Queen got to do with Estonia? actually what have bicycles got to do with Estonia? maybe i got that wrong.

i need you Poke!

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13 hours ago, Pdoggg said:

The 35 baht per dollar level has been breached. This is due to dollar strength rather than baht weakness. The Fed is expected to announce a 3/4 of a percent interest rate hike today which makes the dollar stronger.

I know fuck all about finance, ( nor do I care)  depends where you read,  I trust stock brokers about as much as I trust used car dealers or realtors. I trust a street whore more to be honest.

The economy is going to collapse,’ says Wall Street veteran Novogratz. ‘We are going to go into a really fast recession.’

 https://finance.yahoo.com/m/b6967859-5ed0-3e10-a501-5f2a90bdaa9b/‘the-economy-is-going-to.html

Don't be duped by doomsayers, JPMorgan says

https://finance.yahoo.com/news/dont-duped-doomsayers-jpmorgan-says-000000672.html

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