The Thailand Baht Versus The Euro – An Unusual Pairing

Posted November 26, 2010

An unusual pairing making their way through choppy times – that could be the subheading for this article as we take a fresh look at the baht and the Euro going head to head against each other. The baht is not a currency we look at all the time, but it definitely merits a closer look on the currency converter for October, as it produced some interesting exchange rates against the Euro.

 

The initial starting point for the month was 0.02413. There was a marginal drop for the first day of trading to go into the first weekend on a rate of 0.02411. Once the new week got underway we saw some movement between the two currencies that resulted in a closing rate of 0.02397 for the Thailand baht versus the Euro. So there was a drop there but not a very large one. Although you can see by the figures we are dealing with several decimal places.

The next week didn’t start well for the baht but by the 12th it had managed to climb up to end the day on 0.02413. Unfortunately it couldn’t hang onto that rate and the following day it experienced a drop to 0.02392. The week ending figure turned out to be 0.02380 instead.

So it seemed as if the Euro was doing slightly better at the moment, although the differences were at least small ones. However things got slightly more promising for the Thailand baht and by the time the 19th of the month rolled around it had managed to push itself up a little to claim a closing exchange rate of 0.02412. But once again the differences were small and not very long lasting. The 22nd marked the end of that particular week and the result was that the Thailand baht had once again had trouble fending off the Euro. It finished on a poorly 0.02396 as a result.

There were clearly not going to be too many notable results here, but hopefully the baht would at least be able to finish more strongly against the Euro by the time the month was up. We were approaching the closing stages now and if there was ever a time that we could enjoy seeing a fighting effort by the baht, it would be now.

By the 26th we did start to see signs that the Thailand currency was pushing the boundaries a bit. It finished on 0.02403 on that particular day, so perhaps this was a sign for the better. It managed to maintain that slight lead as well, and by the time October was just a memory in the currency markets, the Thailand baht had managed to sustain its fight back and it finished on 0.02409 against the Euro.

This was ever so slightly down on the initial rate for the month. But considering the falls and dips it had put up with ever since, getting back to anywhere near that rate was a good effort.