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What's your baht worth? Exchange rates on the street...


Painter

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Blimey, the pound may be in the crapper, but Wise is doing OK from it all. This is from this morning's business briefing:

WISE: Revenue at the money transfer service rose by 50 per cent to £225.2 million in the three months to the end of December. As a result of the revenue growth, supported by higher interest income in recent months, the company upgraded its guidance for full-year income growth to 68 per cent to 72 per cent, from 55 per cent  to 60 per cent previously.

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I have been watching this chart every day the Baht Rupee chart because the Rupee some what tied to the dollar.....

 

Click to enlarge even more

 

Click to reduce

 

I had thought the dollar would hit at least 40 then do a prolonged pullback then start on a multiyear rally along with the Rupee....

The Dollar hit 38.5 then went pretty much straight down...

Look at the raise in the Rupee that took almost 2 years....And now 100% of the gains have been lost in a month.....

Something changed somewhere but I am not sure what?

 

The positives are the Baht Rupee could be putting in a double bottom which is very very bullish...

Also things that go straight up or down many many times  will do just the opposite in short order....

 

The negative is if the Baht Rupee blows through this last support level to the downside......Well that will really suck......

This is it......Its decision time.....

 

Edited by fforest
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