Will The Thailand Baht Win Against The Swiss Franc?
The opening rate here was 0.0326, so as you can see there was quite a difference in the value between each currency. This first week saw the Thailand baht taking control of the power in the situation, and the currency ended up moving up to a better rate of 0.0330 by Friday evening. The question was whether it would remain that way, or whether there was another story in the offing.
There was an immediate drop on Monday which took the baht down to 0.0327, but it did manage to climb back up to 0.0329 the next day. Was this going to be more of a tussle with the Swiss franc than we at first thought it might be? Only by checking the remainder of the month’s results will we find the answer we are looking for.
The week in question, which ended on the 12th March, saw the Swiss franc come back to exert a little authority. By the end of the week we saw the exchange rate settling on 0.0325, so the baht had only lost a little of the lead it had experienced from earlier.
You will probably have noticed that the changes here are only very small ones. But it is in those changes that we can pick out the pattern of the month. When such small changes take place we can see that the story is in the details rather than in big changes occurring all the time.
The following week saw a good start for the Thailand baht however, with a better figure of 0.0329 being achieved by Monday night. The Swiss franc got second blood on Tuesday by pushing the baht back down to 0.0327. But from then on it seemed as if the baht took control to make sure it got the exchange rates it wanted. By the end of the week it had propelled itself back up to 0.0330, so we had some great results to look at there.
There were just three days of the week left for the currencies to try and win one over on each other, and Monday night’s result brought a figure of 0.0328 to evaluate. The following day stayed pretty much the same, with only a miniscule drop to look at between the two. And finally the end result for the month was 0.0327, so it seemed the Thailand baht was only slightly up on where it had started way back at the beginning of March.
So it seems that some currencies are not destined to have much of a difference recorded between them. Since these involve more decimal points because of the difference between them, it can be more useful to look at more decimal places to get the figures we need.