theguyfromanotherforum Posted February 21, 2018 Share Posted February 21, 2018 I came to Thailand just over 4 years ago with $200,000 Canadian in my pocket. In those 4 years I have been able to save additional $100,000 Yet, when converted to Thai baht I have the exact same amount of money as when I arrived. On that note, I like to bash Thai real estate, but even if I bought an overpriced dud in Pattaya 4 years ago there is just no way in hell I would have lost 33% of my money. Anyone's else currency in a doghouse? 2 1 Link to comment Share on other sites More sharing options...
blackcab Posted February 21, 2018 Share Posted February 21, 2018 You wouldn't have lost your money but you probably wouldn't be able to sell a dud property either. Even good properties can take time to sell. Link to comment Share on other sites More sharing options...
theguyfromanotherforum Posted February 22, 2018 Author Share Posted February 22, 2018 I guess I'm the only one. Yay! Link to comment Share on other sites More sharing options...
smutcakes Posted February 22, 2018 Share Posted February 22, 2018 Can you show the calculations on your post, i dont quite understand what you mean. The exchange rate has changed from 29.6 to 25.06, so how have you lost 33% of your money? Sorry i am bored. When you convert, you have the exact same money as when you arrived? Link to comment Share on other sites More sharing options...
theguyfromanotherforum Posted February 22, 2018 Author Share Posted February 22, 2018 Actually when I arrived it was close to 32 baht... most definitely in the high 31s Today the exchange rate is 24.91 or much lower if you withdraw via ATM, of course. According to Oanda arrived January 2014 $200,000 total in baht 6,200,000 Today $300,000 total 7,450,000 Ok, it seems I exaggerated a little, but still almost 2 million baht "loss". 2 Link to comment Share on other sites More sharing options...
smutcakes Posted February 22, 2018 Share Posted February 22, 2018 34 minutes ago, theguyfromanotherforum said: Actually when I arrived it was close to 32 baht... most definitely in the high 31s Today the exchange rate is 24.91 or much lower if you withdraw via ATM, of course. According to Oanda arrived January 2014 $200,000 total in baht 6,200,000 Today $300,000 total 7,450,000 Ok, it seems I exaggerated a little, but still almost 2 million baht "loss". Why don't you transfer some money back to Canada? You have really been trying to prove your point, as the exchange rate has got to 31 only once for a day period in January 2014, so you were pretty damn unlucky! 1 Link to comment Share on other sites More sharing options...
yankee99 Posted February 22, 2018 Share Posted February 22, 2018 32 was a anomaly everyone knew that same when the au dollar was almost on par with the us dollar 2 Link to comment Share on other sites More sharing options...
Popular Post joebrown Posted February 22, 2018 Popular Post Share Posted February 22, 2018 5 hours ago, theguyfromanotherforum said: I guess I'm the only one. Yay! You're unlilkely to get any sympathy from a UK pensioner like me. When I came here in 2004 1 GBP = 70Bht. Since then my State Pension has been frozen and the exchange rate is now 43/44Bht. That's a 37% loss of income, so you've really got off quite lightly! 4 Link to comment Share on other sites More sharing options...
timendres Posted February 22, 2018 Share Posted February 22, 2018 Sounds like your money is still in CAD$. So you have lost nothing, except purchasing power in Thailand. Over time, that will smooth out to some extent. And as another poster has mentioned, you are setting your starting point at an outlier value. In 2003, I saw 40THB to the USD, then saw 28THB 4 years ago, and now 31THB. It is an unsettling ride. I solved the problem by leaving my wealth in the US, and getting paid in THB. 1 Link to comment Share on other sites More sharing options...
smotherb Posted February 22, 2018 Share Posted February 22, 2018 6 hours ago, theguyfromanotherforum said: I guess I'm the only one. Yay! Don't buy anything expensive here and don't bring any more money into Thailand than your monthly expenses. 2 Link to comment Share on other sites More sharing options...
Delight Posted February 22, 2018 Share Posted February 22, 2018 43 minutes ago, joebrown said: You're unlilkely to get any sympathy from a UK pensioner like me. When I came here in 2004 1 GBP = 70Bht. Since then my State Pension has been frozen and the exchange rate is now 43/44Bht. That's a 37% loss of income, so you've really got off quite lightly! Sometimes you win sometimes you lose Back in late 2005 I purchased a condo. The 3.6MBaht purchase price plus transfer fees cost me £54000. I am of the opinion that if I chose to sell my condo today at the fire sale price of 2.5M Baht and repatriated the money I would end up with slightly more than £54000. So in effect I have lived in Thailand for 12 years -and only paid maintemance fees. This of course is only a paper exercise That said in terms of day to day living the 37% loss of purcahsing power( that you quote) -also applies to me. 1 Link to comment Share on other sites More sharing options...
connda Posted February 22, 2018 Share Posted February 22, 2018 Yeah, the Loonie has taken a beating. 1 1 Link to comment Share on other sites More sharing options...
English Engineer Posted February 22, 2018 Share Posted February 22, 2018 The moral of the story if possible keep a buffer in thai baht, to avoid having to change money when the exchange rate is bad. 2 Link to comment Share on other sites More sharing options...
CanuckThai Posted February 22, 2018 Share Posted February 22, 2018 (edited) I agree with keeping funds in Canada, and keeping a minimum Baht float. The best solution I've found for myself, has been opening a Thai and Canadian "E currency" trading account. You can fund your "E currency" account when you want, online from your Canadian bank, then send yourself an amount of "Ecoin", sell it, deposit funds into your Thai bank account. At this point, you actually make money transferring CDN bought Ecoin, to Thai.Bx. Example: buy $1000 worth of bitcoin, send it to your "ewallet" here, sell it, deposit approx 26500 Baht into your thai bank account. The whole process is very quick (usually less than an hour to have funds in your thai account, from time of purchase of ecoin in Canada). Edited February 22, 2018 by CanuckThai penmanship 2 Link to comment Share on other sites More sharing options...
jackdd Posted February 22, 2018 Share Posted February 22, 2018 53 minutes ago, English Engineer said: The moral of the story if possible keep a buffer in thai baht, to avoid having to change money when the exchange rate is bad. Can you foresee how the exchange rate will evolve? I doubt it, because if you could you were rich 1 Link to comment Share on other sites More sharing options...
EnlightenedAtheist Posted February 22, 2018 Share Posted February 22, 2018 It looks like there should be a bit of a reversal, if this truly happens: https://www.bangkokpost.com/business/finance/1415239/bot-to-keep-a-lid-on-baht-interventions Link to comment Share on other sites More sharing options...
Lacessit Posted February 22, 2018 Share Posted February 22, 2018 Australian dollar has dropped about one baht over the last month. I just pick my time to transfer funds. Link to comment Share on other sites More sharing options...
smotherb Posted February 22, 2018 Share Posted February 22, 2018 2 hours ago, English Engineer said: The moral of the story if possible keep a buffer in thai baht, to avoid having to change money when the exchange rate is bad. that only works if the rate is bad for a short time--no pun intended Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted February 22, 2018 Share Posted February 22, 2018 Thai baht is undervalued compared to the Canadian dollar, so don't expect the tide to turn anytime soon. http://www.economist.com/content/big-mac-index Link to comment Share on other sites More sharing options...
watcharacters Posted February 22, 2018 Share Posted February 22, 2018 2 hours ago, jackdd said: Can you foresee how the exchange rate will evolve? I doubt it, because if you could you were rich Who knows? Maybe he is already super wealthy. Link to comment Share on other sites More sharing options...
watcharacters Posted February 22, 2018 Share Posted February 22, 2018 8 minutes ago, ExpatOilWorker said: Thai baht is undervalued compared to the Canadian dollar, so don't expect the tide to turn anytime soon. http://www.economist.com/content/big-mac-index Switzerland, Sweden and Norway have overvalued currency? Link to comment Share on other sites More sharing options...
mogandave Posted February 22, 2018 Share Posted February 22, 2018 Had you put it in the bank rather than carry it around in your pocket you'd of been flush. Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted February 22, 2018 Share Posted February 22, 2018 2 hours ago, EnlightenedAtheist said: It looks like there should be a bit of a reversal, if this truly happens: https://www.bangkokpost.com/business/finance/1415239/bot-to-keep-a-lid-on-baht-interventions No reversal in sight. The BoT is stepping back and allowing the baht to become stronger. "KBank, the country's fourth-largest lender by assets, predicts the baht will appreciate to 31.2 baht versus the dollar next month." 1 Link to comment Share on other sites More sharing options...
mogandave Posted February 22, 2018 Share Posted February 22, 2018 31.55 now... Link to comment Share on other sites More sharing options...
NoBrainer Posted February 22, 2018 Share Posted February 22, 2018 Looks to me like you missed the boat. Should have changed that 200K into baht when you got here, rather than holding the Dollars while they declined. 1 Link to comment Share on other sites More sharing options...
Lacessit Posted February 22, 2018 Share Posted February 22, 2018 1 hour ago, smotherb said: that only works if the rate is bad for a short time--no pun intended Like hell. Link to comment Share on other sites More sharing options...
EnlightenedAtheist Posted February 22, 2018 Share Posted February 22, 2018 35 minutes ago, ExpatOilWorker said: No reversal in sight. The BoT is stepping back and allowing the baht to become stronger. "KBank, the country's fourth-largest lender by assets, predicts the baht will appreciate to 31.2 baht versus the dollar next month." Well, if you cherry pick, I can too. But Mr Kobsit predicted the baht would reverse the trend in May in light of a repatriation-driven dividend. Mr Kobsit said the local currency will be more volatile throughout the year amid both local and international uncertainties. Please credit and share this article with others using this link:https://www.bangkokpost.com/business/finance/1415239/bot-to-keep-a-lid-on-baht-interventions. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved. Link to comment Share on other sites More sharing options...
baansgr Posted February 22, 2018 Share Posted February 22, 2018 Why convert, wait till a better rate Link to comment Share on other sites More sharing options...
English Engineer Posted February 22, 2018 Share Posted February 22, 2018 I was not suggesting you can beat the currency market. A buffer does allow you to at least make the exchange when you judge the exchange is at the best rate. I hold a mix of currency but unfortunately the the thai baht is strong agaiinst most currencies.at the moment. 1 Link to comment Share on other sites More sharing options...
mogandave Posted February 22, 2018 Share Posted February 22, 2018 Beating the currency market is easy. Beating it consistently? Not so much. Link to comment Share on other sites More sharing options...
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