However, since the Thai BAT clearly stated its determination to protect the Thai baht at the press conference, the difference between returning the money sooner or later is actually not that significant.
If the exchange rate remains unchanged, repaying the loan earlier can save a lot of interest.
Conversely, the Thai baht appreciated against the US dollar after the speech, meaning that the money invested would not only fail to make a profit but would also result in a loss.
Chen Dong shook his head and said slowly, "Now is not the time. I will not repay at this exchange rate level, as that would only result in a loss of interest. I plan to convert all my Thai baht holdings into US dollars soon, and then buy them back after the baht depreciates."
"Just as I thought!" Li Xiaoman muttered to herself. This was standard procedure. Then she asked in confusion, "Then why couldn't we sell the Thai baht a few days ago? Given our position, if we had joined the battle then, the Thai baht would probably be a freely floating exchange rate by now."
Today is June 2nd, three days after Thailand announced the successful defense of the Thai baht. On the surface, the Thai baht spot and foreign exchange futures markets are calm, as if what happened during this period had never occurred.
But Chen Dong knew perfectly well that beneath this seemingly calm surface, undercurrents were surging, and an epic storm was brewing behind the calm.
Of course, this is not the reason why Chen Dong chose not to sell.
Chen Dong shook his head and calmly analyzed for Li Xiaoman, "We are in Hong Kong, which is too close to Southeast Asia. If there is any disturbance, we will be affected."
"In addition, you must always consider the political influence. They are too far away to reach hedge funds and capital in the United States, but we can't."
"Moreover, and more importantly, they are at the forefront, providing me with firepower while also depleting the Thai authorities' large amounts of US dollar reserves. We can then step in to deliver the final blow and maximize our profits."
"puff!"
Li Xiaoman smiled gently, "Aren't you afraid I'll sell you off?"
"What's there to be afraid of? Besides, we're all in the same boat."
......
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