Editor;
Re: Thai baht firms up after dissolution announcement (PM Tuesday, 10 December 2013) – My observations over the last 34 yrs., the baht will continue to slide against the USD until the current situation is resolved. The longer this situation last, the more the baht will slide. Hi-season 2005 had the baht trading at 41 THB to 1 USD during the turmoil then. A significant raise with the airport shut down of 2008, which was short lived after things went back to normal.
I make about four ACH transfers a yr. I was hoping to hold off on the next until after New Yrs., but the minute I see a slide in the USD I will go ahead with it. According to the Forex Exchange Rate 1 USD is trading at 32.61, Dec.22, 2013, MSN is saying 32.64, BKK Bank has it at 32.88 sell rate.
In August 2102 a transfer netted me 7,800 THB above loses I had experienced with a transfer earlier in the yr. I would expect a transfer now would net some profits that will be taken back later in the yr. mostly likely when I need to do another transfer.
Unless things really go south before the scheduled election Feb 2, 2014, I would expect foreign currencies to keep raising but slowly. But if there is a resolution which satisfies all sides, the baht will readjust to values of 30.00 to 31.00 to the USD.
Dill Pickles
