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Home » News from Thailand » Reader question: Baht falls in value against dollar, what about the Euro?
Dear readers,
The baht has devalued against the US dollar in the past two months. According to the Central Bank of Thailand, the Baht will continue to depreciate against the dollar in the near future. Still, I don't see much of that when I look at the Euro. Why doesn't the Euro increase in value so that I get more Baht for my Euro?
Regards,
Arnold
On May 29, 37.05 thb for one euro.
On June 29, 38.60 thb for one euro
Is 1.55 thb difference.
On 26 Mar you got 31.14 thb for a dollar
On June 29, you got 33.29 thb for a dollar.
Is 2.15 thb more.
On March 26, you received 1.24 dollars for one euro.
On June 28, you received 1.15 dollars for one euro.
So that is 9 euro cents less..
If you see these figures, you will get 2 thb more for euros in 1.5 months, and 2 thb more for a dollar.
So difference is 0.5 thb,
But the euro has become 9 cents cheaper compared to the dollar, then that 0.5 euro cent is still a lot…
Source; https://www.xe.com/currencycharts/?from=USD&to=THB&view=1W
If the ECB continues with the expected (partly deployed, partly announced) monetary policy, this should in theory result in an appreciation of the euro against other currencies (including THB).
But not only the monetary policy of the ECB has an impact. Numerous other “external” factors play a role.
What is the Thai Central Bank doing with its monetary policy? What is happening elsewhere in the world? Will another boat full of refugees tear the entire European Union apart? Does Mr. Trump, or any other gentleman or lady with global impact, have any crazy tweets or shocking public statements up his sleeve? Are we heading for a natural disaster with global impact?
Everything is possible, but who will predict it?
Consult a fortune teller in Thailand? I read that El Generalissimo Mr. Prayut sometimes gets the mustard for his actions in policy there. 🙂 Which in itself is also significant for the good observer 🙂
Present: Euro versus Dollar 1.1685 or 0,85598 dollar/euro
Euro/dollar low over 12 months 1.1312 today 1.1685
Today: 1 Euro 38,597 baht / 1 dollar 33.08 baht (ratio 0,85706)
Conclusion: the euro follows the dollar against the Thai baht in exchange rate development and Mr Arnold's conclusion is incorrect.
You cannot divide a number with 3 decimal places and a number with 2 decimal places and then present a result with 5 decimal places.
33.08 Baht is between 33.075 Baht and 33.084 Baht if you have 3 digits after the comma.
That gives 2 completely different results with 5 digits after the comma.
But in practice, the value of the Euro is constantly changing against the dollar, and the value of the Thai Baht is constantly changing in value against both of those currencies (and all other currencies in the world), but not exactly by the same amount.
Dear Joseph,
The best rate today Euro / Bath is 38.35 (See Superrich)
Greetings,
Guido
Lath Phrao
Dear Guido, the official international trading rate is slightly different from the Superrich rate. After all, they should also be able to earn something from it, right?
In the mid-80s, I once attended 13 lecture evenings at the UvA about international currencies and their mutual exchange rates. At the end, one of the evening students thanked the teachers with the question: "Can you also tell us what the exchange rate of the US$ will be against the European currency tomorrow / next week?".
Answer: “For the exchange rate of the US$ against the other currencies in the future, you should not go to the Faculty of Economics, but to the Faculty of Psychology.”
I advise you to download the OANDA app on your smartphone or PC so that you have the current rates at any time.
The USD is rising against the EUR and THB at the moment.
Who knows may say. With the current unpredictable “world leaders” it is not so crazy with the Euro-Baht exchange rate.
Boy, boy, that's what I finally read about...... to put the fingers on the sore spot.
Every day I keep track of the development of the euro versus US dollar and Thai bath.
A few months ago there was a meeting with the financeman of. Thailand
And a large important group of exporters. This last group received zero on request.
In my opinion, the dollar is not strong, but the euro is weak. Germany is not clicking
Merkel has to be careful or she will disappear on the scene…and the financial world knows this
And does not like it. if a good solution is found in this. Will this
Putting the euro higher and that will work through to the euro versus Thai bath.how do you do it
However, also ask for the RATING Thailand to FITCH USA and then you get
True value of the Thai bath.
I am happy to give my opinion for the better of others
Groet
According to.
Ls,
We are all somewhat right. The price depends on many different factors and you can't really say anything about it with certainty. What you can say is that if the money flows from the emerging markets, including Thailand, Turkey, etc., goes back to the US and interest rates rise there, this will have an effect on the currencies of those countries. These are then often worth less and this effect is often amplified if loans are often taken out in dollars in those countries, causing inflation to rise.