Baht Weakest in 10 months

[Gaybutton]

American expats will start receiving a 3.2% Social Security COLA increase this month

Yes. I receive my Social Security the third day of each month, so I already have mine. The increase was included. Nothing to get all excited about though - enough to fill my petrol tank and go out to dinner at a couple good restaurants. But I'm happy to take what I can get . . .

[Dodger]

Yes. I receive my Social Security the third day of each month, so I already have mine.

I receive my SSA payment on the third day of each month as well but read where we won't receive the the 2024 increase of 3.2% until Feb 3rd, with the understanding that the payment we received this month (January) was for December 2023.

I probably have this wrong...but hope I don't.

[Gaybutton]

I probably have this wrong...but hope I don't.

I also hope you don't, but I don't know what else would account for the increase I received January 3. But if I have even more coming in February, I'll be happy to accept it . . .

[Dodger]

I also hope you don't, but I don't know what else would account for the increase I received January 3. But if I have even more coming in February, I'll be happy to accept it . . .

Take a look at page one on the SSA Guide link below:

https://www.ssa.gov/pubs/EN-05-10077.pdf

I also received a bit more on Jan 3 - but the exchange rate was a tad higher when SSA processed the payment. According o the SSA Guide (I think) we should first see the 3.2% increase on Feb 3.

[Gaybutton]

According o the SSA Guide (I think) we should first see the 3.2% increase on Feb 3.

Certainly nothing to debate about because I too hope you've got it right.

However, the fact is on January 3 I did receive a higher amount than the months before and the amount I received was 3.2% more than I received in December or any other month in 2023. So, if that wasn't the 3.2% increase, then what was it?

[Dodger]

Certainly nothing to debate about because I too hope you've got it right.

However, the fact is on January 3 I did receive a higher amount than the months before and the amount I received was 3.2% more than I received in December or any other month in 2023. So, if that wasn't the 3.2% increase, then what was it?

Based on what you just said I think I probably have this wrong. There's so much fluctuation in the daily exchange rates that it's impossible to figure out...for me anyway. Just have to wait and see.

[Undaunted]

[Gaybutton]

It has been fluctuating between the high 34s-low35s to the US dollar lately.

[Undaunted]

Baht expected to keep sliding against U.S.D.
______________________________________

Baht hits four-week low against dollar, likely to weaken further: analyst

by THE NATION

January 18, 2024

The baht weakened to a four-week low of 35.45 per US dollar at the start of trade on Wednesday.

The baht’s dip came as the dollar strengthened following an increase in the US 10-year bond yield and the Fed signalling it would not rush to lower interest rates, said Krung Thai Bank's foreign currency analyst, Poon Panitpiboon.

The news also pushed down the gold price, triggering more buyers, which added to pressure on the baht.

The baht's weakening was mitigated by pressure to sell dollars, the analyst said. However, he advised keeping a close watch on whether the Thai currency weakens beyond its resistance level of 35.50 per dollar. This would open the way for a weakening to the zone of 35.80 baht per dollar, Poon said.

Market concerns have eased over the Bank of Thailand’s interest rate reduction but the baht is fluctuating more strongly than expected due to external factors, he added. These include the direction of the dollar, US bond yield, and gold. Poon advised that pending US economic data reports may change market players’ views on the Fed interest rate trend.

More Fed signals that it will not lower interest rates quickly and deeply may support the dollar and upward US 10-year bond yield adjustment, pressuring the baht and gold prices.

https://www.nationthailand.com/business ... e/40034769

[Dodger]

Looks good to me.

If the exchange rate holds at an average of 35 I'd be happy. Of course 37 would be better...or 38...or 39...or 40...555.