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BlueHawaii
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BANGKOK, Thailand (AP) - Thailand's central bank tightened foreign exchange restrictions Monday to curb speculation of the baht after the currency hit an eight-year high against the U.S. dollar last week.
Looks like the Army is doing it's part to keep the girls cheap for us. Can someone explain to me why the baht is so strong vs the dollar?
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 9:07 pm on Dec. 19, 2006
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DaffyDuck
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Quote: from BlueHawaii on 11:31 am on Dec. 20, 2006
Looks like the Army is doing it's part to keep the girls cheap for us. Can someone explain to me why the baht is so strong vs the dollar?
Because the dollar is being generally weakened by the current administration - good policy in terms of reducing the debt-load with foreign loaners, and making domestic products more tempting to foreign buyers, but it screws your own people over royally.
Also, it appears that the Baht restrictions are old news, as the BoT seems to already have removed part of those restrictions after the deleterious drop of the stock market that happened as a result of these measures. Of course, things can change hourly 
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 9:59 pm on Dec. 19, 2006
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PussyLover 69
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Report from Bangkok Post dated Wednesday 20 December 2006 :-
Curbs lifted as market crashes - Red faces as B800bn wiped off share values
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Authorities were forced to make an embarrassing U-turn yesterday and eased stringent currency controls on foreign investors one day after the Stock Exchange of Thailand lost 800 billion baht in value _ the largest one-day drop in its 31-year history. Effective today, stock and foreign direct investment will be waived from the new Bank of Thailand rule requiring a 30% reserve on currency transactions.
M.R. Pridiyathorn Devakula, the finance minister and deputy prime minister, acknowledged that authorities had ''underestimated'' the impact that the controls would have on the market.
He met yesterday evening with market regulators, securities brokers and banks to discuss the fallout from the measures.
Local stocks plunged 14.84% yesterday in a broad selloff that saw the Stock Exchange of Thailand index close at a three-year low at 622.14 points, down 108.41, on heavy trade worth 72.1 billion baht.
Local and foreign investors alike sharply criticised the capital controls as ill-conceived and heavy-handed.
But M.R. Pridiyathorn defended the measures as needed to relieve pressure on the baht, which has gained 14% against the US dollar this year thanks to steady capital inflows and strong exports.
''This was not a mistake. The central bank tried to address the problems. Without action, the baht would already have broken through 35 to the dollar,'' he said.
''We don't need to discuss who to blame. Our priority is on fixing the problems.''
The baht yesterday weakened slightly to around 35.9 to the dollar, compared with 35.5 on Monday.
Under the revised rules, stock investors will be exempt from the reserve rule. Local banks, brokers and custodians will be asked to cooperate in ensuring that foreign funds do not shift to other asset classes such as bonds or the money market.
Analysts said the stock market should rally today after the policy shift, but cautioned that investment sentiment had been severely hit.
Kongkiat Opaswongkarn, chairman of the Federation of Thai Capital Market Organisations, said the impact on the economy ''was worse than from World War II'', and criticised the central bank for not understanding the capital market.
''The central bank needs to be more cautious before taking such measures. We hope to see a rebound, but many investors, large and small, have already suffered,'' he said.
Korn Chatikavanij, a deputy leader of the Democrat party and former head of investment bank JP Morgan, blasted the central bank's measures as a ''disaster''.
''As the rule is structured, it penalises everybody and it only helps put more pressure on the funds flowing into the country,'' he said. Many institutional investors had explicit rules against investing in markets with capital controls.
''This is an error by the authorities and they should come out and correct it as soon as possible,'' Mr Korn said.
Both the SET and the Securities and Exchange Commission, which were not consulted in advance about the capital measures, also voiced complaints.
Patareeya Benjapolchai, the SET president, said yesterday's sell-off came as investors sought to curb their risk.
''We feel the central bank should quickly step in and send a clearer message to the market, otherwise the SET will be heavily impacted,'' she said.
Thirachai Phuvanatnaranubala, the SEC secretary-general, said controls aimed directly at currency speculators would be more effective for the economy.
''It would be better if we can limit the measures only to currency speculators and not impede those bringing in capital for stock investment,'' he said.
Not everyone was critical. Exporters welcomed the measure as long overdue in helping stem the baht's appreciation.
''The baht has risen by 14% this year against the currencies of our export rivals.
''How can we compete with others if the baht is allowed to get stronger?'' said Somsak Paneetatyasai, president of the Thai Shrimp Association.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 12:33 am on Dec. 20, 2006
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Evil Penivel
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At the tourist level, you may notice the dollar strengthtening a bit versus the baht. But unless you are investing in Thai stocks or debt instruments, the capital controls won't have any direct day-to-day consequences for you.
Evil
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 12:53 am on Dec. 20, 2006
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PussyLover 69
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Report from The Nation dated Thursday 21 December 2006 :-
Baht further depreciates to 36.37 in morning trade
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Thai baht, which hit a new nine-year high of 35.12 to the dollar on Monday, was at 36.37 in Tokyo morning trade, compared with 35.80-90 late Wednesday 20 December 2006.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:52 pm on Dec. 20, 2006
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BlueHawaii
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For reference, the same girl that cost me $46 last November now costs $55 ST.
Of course, for you real Cheap Charlies, you would have bargained it down more.
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 10:56 pm on Dec. 20, 2006
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breconion
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At the airport yesterday 20/12/06 or 12/20/06 34.91
On Soi 4 yesterday afternoon 35.58
Today Mia gets 36.1 So whatever they did has worked at lease in our favour
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 7:12 pm on Dec. 21, 2006
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Gyaos
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The restrictions still remain on foreign investment on bonds and property. The baht will weaken to 38 after the winter tourist season and maybe even 40 (a good level for tourists, bad for investors) by the summer. I wouldn't be surprised if it becomes so liquid, it weakens to 45 by the end of the year as investers just move away.
By making a jittery move like that, foreign investers will stay away 'til after the next Thai election. Investors hate quick monetary decisions against them and even quicker semi-reversals.
Gyaos.
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Thai Girls : Meet Active Thai Girls
Posted on: 1:39 pm on Dec. 23, 2006
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shamas
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The USA's main export is the greenback dollar, we owe so much to the Asian countries due to our fiscal illresponsibilities the present government is actively encourging the Asian countries to devalue the dollar. In the event China was to call our debt they would wipe out our case reserves and the only thing we could do was print more money which is the same as going bankrupt.
The stock market isn't doing as well as the government claims, with so many people investing their 401K retirement money in the market it isn't going up much at all.
The USA which was once the world standard for power and wealth is now begging to keep from going bankrupt.
Just my uneducated take on the subject
Shamas O'Dognasty
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Thai Women : Meet Matured Thai Women
Posted on: 4:14 pm on Dec. 24, 2006
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DaffyDuck
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Unfortunately, Shamas is all to correct. Greenspan got out just in the right nick of time.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 5:55 pm on Dec. 24, 2006
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