Exchange Rate Moves Dramatically

[Gaybutton]

The political turmoil in Thailand is starting to take its toll on the baht. Yesterday the baht closed at 34.11 against the US dollar.

 

For the next several days I'll post the opening and closing rates on this thread. As always, I will edit the post at the end of the day to include the closing rates:

 

Monday, September 2

 

Opening Rates:

 

US Dollar: 34.27

 

Euro: 49.88

 

British Pound: 61.405

 

Australian Dollar: 29.0025

 

Canadian Dollar: 31.9425

__________

 

Closing Rates:

 

US Dollar: 34.29

 

Euro: 49.62

 

British Pound: 60.995

 

Australian Dollar: 28.40

 

Canadian Dollar: 31.89

[Gaybutton]

Tuesday, September 3

 

Opening Rates:

 

US Dollar: 34.23

 

Euro: 49.555

 

British Pound: 60.895

 

Australian Dollar: 28.3575

 

Canadian Dollar: 31.885

_____

 

Closing Rates:

 

US Dollar: 34.288

 

Euro: 49.285

 

British Pound: 60.525

 

Australian Dollar: 28.14

 

Canadian Dollar: 31.7825

[Gaybutton]

Thursday, September 4

 

Opening Rates:

 

US Dollar: 34.22

 

Euro: 49.54

 

British Pound: 60.645

 

Australian Dollar: 28.4225

 

Canadian Dollar: 32.1325

_____

 

Closing Rates:

 

US Dollar: 34.25

 

Euro: 49.63

 

British Pound: 60.95

 

Australian Dollar: 28.5575

 

Canadian Dollar: 32.2575

[Gaybutton]

Friday, September 5

 

Opening Rates:

 

US Dollar: 34.38

 

Euro: 49.005

 

British Pound: 60.27

 

Australian Dollar: 27.99

 

Canadian Dollar: 32.0675

_____

 

Closing Rates:

 

US Dollar: 34.38

 

Euro: 48.935

 

British Pound: 60.46

 

Australian Dollar: 27.8225

 

Canadian Dollar: 32.03

 

There will be no further rate reports posted by the banks until Monday.

[Gaybutton]

Monday, September 8

 

Opening Rates:

 

US Dollar: 34.22

 

Euro: 49.255

 

British Pound: 61.345

 

Australian Dollar: 28.31

 

Canadian Dollar: 32.2725

_____

 

Closing Rates:

 

US Dollar: 34.33

 

Euro: 48.72

 

British Pound: 60.515

 

Australian Dollar: 28.1075

 

Canadian Dollar: 32.185

[Guest lvdkeyes]

Monday, September 8

 

Opening Rates:

 

US Dollar: 34.22

 

Euro: 49.255

 

British Pound: 61.345

 

Australian Dollar: 28.31

 

Canadian Dollar: 32.2725

 

My US bank paid 34.58.

[Gaybutton]

Tuesday, September 9

 

Opening Rates:

 

US Dollar: 34.42

 

Euro: 48.45

 

British Pound: 60.355

 

Australian Dollar: 27.7725

 

Canadian Dollar: 32.1375

_____

 

Closing Rates:

 

US Dollar: 34.34

 

Euro: 48.635

 

British Pound: 60.505

 

Australian Dollar: 27.8825

 

Canadian Dollar: 32.225

[Gaybutton]

Wednesday, September 10

 

Opening Rates:

 

US Dollar: 34.42

 

Euro: 48.535

 

British Pound: 60.57

 

Australian Dollar: 27.5175

 

Canadian Dollar: 32.02

_____

 

Closing Rates:

 

US Dollar: 34.41

 

Euro: 48.615

 

British Pound: 60.63

 

Australian Dollar: 27.6475

 

Canadian Dollar: 32.1275

[Guest]

Do you think this trend will bring the baht up to around 40 again?

[Gaybutton]

Do you think this trend will bring the baht up to around 40 again?

 

It's a nice dream, but if it happens I don't think it will happen all that quickly. Even without the current political mess, Thailand has been through so many problems within the past few years that I've lost count of them all. And yet, the baht goes steadily on.

[Guest GaySacGuy]

I just wish I knew where the short term peak price and when it might be hit. I am in a position to make a small transfer to Bangkok Bank from US, but would like to get the best return. My credit union does the transfer free (cause I'm an old guy) so the exchange rate is the only adjustable element.

[fedssocr]

my guess would be that the rate isn't going to change by all that much so trying to time it is probably pointless. The rate has been hovering between 34 and 35 for a while now. Even if it went to something like 36 that is only a very small percentage.

[Gaybutton]

Thursday, September 11

 

Opening Rates:

 

US Dollar: 34.50

 

Euro: 48.025

 

British Pound: 60.255

 

Australian Dollar: 27.3375

 

Canadian Dollar: 31.965

_____

 

Closing Rates:

 

US Dollar: 34.57

 

Euro: 48.07

 

British Pound: 60.36

 

Australian Dollar: 27.2875

 

Canadian Dollar: 32.0425

[Guest fountainhall]

I am not sure how much of the present rise in the Baht rate against the US$ is due to the politcal turmoil and how much to the general strengthening of the dollar worldwide. I read yesterday that many of the other regional currencies have been falling by at least the same amount as the Baht. So it may be that the politcal problems have not yet been fully factored in and further falls may result. Just a thought.

[Gaybutton]

Friday, September 12

 

Opening Rates:

 

US Dollar: 34.55

 

Euro: 48.23

 

British Pound: 60.575

 

Australian Dollar: 27.57

 

Canadian Dollar: 32.015

_____

 

Closing Rates:

 

US Dollar: 34.50

 

Euro: 48.57

 

British Pound: 60.985

 

Australian Dollar: 27.7725

 

Canadian Dollar: 32.0825

[Guest spunkyg]

i am coming to Bangkok for 3 days then flying down to phuket for 2 weeks hope it settles down by then and the BAHT steadys up..................

[Gaybutton]

Monday, September 15

 

Opening Rates:

 

US Dollar: 34.39

 

Euro: 49.16

 

British Pound: 61.81

 

Australian Dollar: 28.1275

 

Canadian Dollar: 32.23

_____

 

Closing Rates:

 

US Dollar: 34.41

 

Euro: 48.855

 

British Pound: 61.555

 

Australian Dollar: 27.7875

 

Canadian Dollar: 32.065

[Guest slackersam]

I worry that the storm in Gavelston plus the Lehman collapse are going to halt the climb of the dollar.

[Gaybutton]

I worry that the storm in Gavelston plus the Lehman collapse are going to halt the climb of the dollar.

 

It's almost like the relationship between the Earth and the Moon. The dollar is dropping, but so is the Thai baht, at an almost equal rate. I think the relative rates between the two are what's keeping the exchange rate just about status quo. I think if the dollar was in better shape and the Lehman Brothers collapse didn't pick right now to happen, then the exchange rate would already be much more favorable to the dollar, in light of the political chaos in Thailand. I thought because of it we'd all be experiencing an exchange rate windfall by now. It hasn't happened. The exchange rate for the US dollar moved from the 31s to the 34s rather quickly, but for the past week it has been stagnating.

 

If I were to point my finger at the place to blame for all this mess, then I'd be pointing at the person who currently occupies the desk where "The Buck Stops Here" sign ought to be. I think if it wasn't for the enormous amount of money literally being wasted in Iraq, then the dollar would be in excellent shape by now, and so would the USA economy. It seems to me that most of those thousand points of light have blinked out.

 

How would you like to be the speechwriter for the next State of the Union address?

[Guest slackersam]

I'd love to be the writer for Palin's first State of the Union.

 

I could write it as complete satire and the GOP wouldn't know the difference.

[Guest Geezer]

....

[Gaybutton]

Tuesday, September 16

 

Opening Rates:

 

US Dollar: 34.20

 

Euro: 48.60

 

British Pound: 61.285

 

Australian Dollar: 26.8975

 

Canadian Dollar: 31.8225

_____

 

Closing Rates:

 

US Dollar: 34.09

 

Euro: 48.28

 

British Pound: 60.74

 

Australian Dollar: 26.7825

 

Canadian Dollar: 31.63

[Guest slackersam]

It looks like everyone is staying away form the FOREX market until they figure out what the Fed is going to do to Interest rates later today and/or how much the Lehman thing hits the Euro marketplace.

 

 

[Guest]

I really am shocked that the Lehman shakeup has such an impact on the world stock markets. Truly, I am. I guess this shows how little I know of the economy.

[Gaybutton]

Wednesday, September 17

 

Opening Rates:

 

US Dollar: 33.87

 

Euro: 47.97

 

British Pound: 60.455

 

Australian Dollar: 27.105

 

Canadian Dollar: 31.5975

_______

 

Closing Rates:

 

US Dollar: 34.15

 

Euro: 48.41

 

British Pound: 60.755

 

Australian Dollar: 26.9775

 

Canadian Dollar: 31.9625