Ouch.
I was getting used to 36 baht for the dollar after its drop from 
41. Now the floor has weakened and no one knows why. My bank Siam Commercial posts the exchange rate at 35.7 yet online the baht is listed at 33.51. Which means interested parties has been manipulating the currency through onshore and offshore accounts, leaving many farangs wondering if they’re about to be caught between a rock and a hard place.
The dollar is weak thanks to the US deficit, but the Thai baht has climbed against all other currencies.
Smart people with big money are playing the baht for a raping.
Buy overseas cheap. Sell here for any other currency for two baht more. Take those baht and buy more.
The punters on Soi BuaKhao are crying the blues. “Where’s me money gone?”
“Where it gonna end?”
“Help Mr. Wizard.”
I will predict one or three possibilities.
One it goes to 25 and every farang moves to Cambodia for a few months. Two it steadies and everyone settles into life as it was only with less. (Over 25% loss baht dollar value in less than a year) And finally the baht collapses and goes to 50.
I think that covers it.
Chok di or good luck to us all.
Price quote comes from www.xe.com
UPDATE 2/1/2007
I’m getting 34.4 from my bank at the moment through the ATM.