South east asian currencies
Southeast Asia in detail. Outside of shops with marked prices, haggling is the norm in most Southeast Asian countries. Remember that it is an art, not a battle of wills, and the trick is to find a price that makes everyone happy. Avoid letting anger or frustration enter into the bargaining process. Typically, the vendor starts high, the buyer starts low, and eventually you'll reach a price that adds up for both parties. Haggling is a way of life in Southeast Asia, but for newcomers to the game, here are the ground rules.
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Lack of tourist spending erodes fundamentals during first quarter. BANGKOK -- The Thai baht was the worst performer among commonly traded Southeast Asian currencies during the first quarter, as its fundamentals were eroded due to lack of tourist spending. The fall stood out from regional peers, which also were in decline. The kingdom's weakening fundamentals led to the drop. It was the first time Southeast Asia's second largest economy has recorded a deficit since the third quarter of , according to the Bank of Thailand.
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It is axiomatic that stock and currency markets have minds of their own and often appear moved by sudden sentiments than changes in the facts. But ignorance on the part of so-called reliable information sources such as Bloomberg can play a significant part in increasing volatility. Take, for example, the issue of Asian emerging market currencies to which Bloomberg writers seem to have taken a particular dislike.
The East Asian financial crisis is now a distant memory, and the countries of Southeast Asia are generally gaining economic clout in the world; but the rate of exchange, not to mention the price of most goods and services, means that travel in the region is very budget friendly. In places such as Laos or Cambodia, you'll find that you can live quite well on very little, and the region's resort destinations and luxury accommodations in general come at a fraction of what you might pay in your home country. ATM service is good in the larger cities but can be scant, at best, in some of the region's backwaters.