What's with the Baht? ???

[mogandave]

In January 2016, I remember getting 36 Baht to the USD, right now it is about to drop below 32 Baht if using the Thai bank exchange rates. Will the exchange rates get any worse?

For Thais or for Americans?

[SiamAndy]

7 minutes ago, mogandave said:

 

For Thais or for Americans?

 

For Americans.

[mogandave]

For Americans.

Maybe

[ExpatOilWorker]

7 hours ago, SiamAndy said:

In January 2016, I remember getting 36 Baht to the USD, right now it is about to drop below 32 Baht if using the Thai bank exchange rates. Will the exchange rates get any worse?

Yes.....

 

From Bloomberg.

“There are not many countries like Thailand where the local economy is getting better but inflation is benign,” Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl, said. “This characteristic could be considered as the best of breed among EM currencies.” He expects the baht to strengthen to 30.7 per dollar by end-2019.

[mogandave]

Yes.....
 
From Bloomberg.
“There are not many countries like Thailand where the local economy is getting better but inflation is benign,” Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl, said. “This characteristic could be considered as the best of breed among EM currencies.” He expects the baht to strengthen to 30.7 per dollar by end-2019.

Yes, and of course he’s selling Baht...

[SiamAndy]

17 hours ago, ExpatOilWorker said:

Yes.....

 

From Bloomberg.

“There are not many countries like Thailand where the local economy is getting better but inflation is benign,” Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl, said. “This characteristic could be considered as the best of breed among EM currencies.” He expects the baht to strengthen to 30.7 per dollar by end-2019.

As the USD continues to slide in value vs. the Baht, it is near its highs vs the Vietnam Dong.

[KhunBENQ]

Have you seen the up-to-date rates of Jan 3?

Baht rockets.

TT at Bangkok Bank:

 

USD 31.96

GBP 39.95

EUR 36.178 (!)

[kekalot]

well, in mid 2013 when I moved here CAD was practically neck to neck with USD 1:1

no question the baht went up but CAD is now it's worth 74% of USD

[Buffy Frobisher]

And the Australian dollar crashing in the past 24 hours isn't exactly a great start to the new year. Today at 22.41, from 24.10 just a month ago. It's starting to hurt, and they're saying that it will lose another 10% of its value against the US$ this year. Just wondering out loud - has anyone found a way of transferring AUD here and eliminating the outrageous fees with a standard CBA transfer? The $22 transfer fee is bad enough, but when you add on the US interchange touch-up with every transfer being sent via JP Morgan before it gets to Bangkok Bank it's now ridiculous.

[SiamAndy]

2 hours ago, KhunBENQ said:

Have you seen the up-to-date rates of Jan 3?

Baht rockets.

TT at Bangkok Bank:

 

USD 31.96

GBP 39.95

EUR 36.178 (!)

Things are getting worse for the Western currencies here. Since I have no family ties here, Vietnam is looking better every day.

[AtoZ]

On 1/1/2019 at 8:30 PM, ExpatOilWorker said:

Yes.....

 

From Bloomberg.

“There are not many countries like Thailand where the local economy is getting better but inflation is benign,” Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl, said. “This characteristic could be considered as the best of breed among EM currencies.” He expects the baht to strengthen to 30.7 per dollar by end-2019.

I find this BS...

 

Thailand is a under military and growth in 2018 under 4%

 

meantime Vietnam locked over 7% growth in 2018 but THB is up on VND by 5%

 

something something smells here 

[ukrules]

10 hours ago, SiamAndy said:

Things are getting worse for the Western currencies here. Since I have no family ties here, Vietnam is looking better every day.

The Baht is going up in 'price'.

 

The Baht is not freely and openly traded

 

What does this mean? What's the opposite of freely and openly traded?

[Naam]

2 hours ago, ukrules said:

The Baht is going up in 'price'.

The Baht is not freely and openly traded

What does this mean? What's the opposite of freely and openly traded?

that means outside Thailand severe restrictions do exist. as simple as that.

Quote

Dear Client,

Thai Baht Currency Restrictions

Further to the Bank of Thailand’s Measure No. 33/2003 (Additional Measure to Prevent Thai Baht Speculation), which came into effect in October 2003, XYZ Bank, Singapore Branch is subject to restrictions affecting its holdings of Thai Baht currency.   These include the following:

Maintaining THB accounts in Thailand for settlement purposes only, where settlement means the settlement of securities transactions and cash payment transactions.   The exception is for deposits of a tenor of at least 6 months or more.

 

Forfeiture of credit interest on its accounts (other than deposits of a tenor of at least 6 months or more)

Ensuring that the aggregated end of day balances for cash accounts with all financial institutions in Thailand do not exceed THB 300 million (the “Daily THB Limit”)

 

Imposition of deposit charge on THB account balances.

In relation to the Daily THB Limit, XYZ Bank, Singapore Branch will be required to adjust its Thai Baht balances in all its client accounts to be compliant with the permitted level as determined by the Thai authorities on a daily basis.  As such accounts may include balances in Thai Baht held on your behalf, it is critical that we are able to adjust client THB balances to ensure compliance.

 

Accordingly, at any time that you are holding a long position in THB, we reserve the right in our absolute discretion and without prior notice to you to convert your holding of THB, in whole or part, into United States dollars at the prevailing spot rate.

Yours truly,
                        
XYZ Bank, Singapore Branch

 

 

[SheungWan]

12 hours ago, AtoZ said:

I find this BS...

Thailand is a under military and growth in 2018 under 4%

meantime Vietnam locked over 7% growth in 2018 but THB is up on VND by 5%

something something smells here 

You mention Thai military but somehow miss Vietnam CP. The point being that CP is more positive but opinion kept out of sight? Did someone use the word "smelly"?

 

[SheungWan]

On 1/1/2019 at 9:35 PM, mogandave said:

Yes, and of course he’s selling Baht...

 

Which, of course he should. Selling high and buying low.

[SheungWan]

13 hours ago, SiamAndy said:

Things are getting worse for the Western currencies here. Since I have no family ties here, Vietnam is looking better every day.

Decisive currency movements can knock one off one's perch. Plus throw in inflation. How uncomfortable is it to reduce one's expenditure if required is the question.

[Henryford]

37 minutes ago, SheungWan said:

Decisive currency movements can knock one off one's perch. Plus throw in inflation. How uncomfortable is it to reduce one's expenditure if required is the question.

If you have to give up girls and wine, why stay in Thailand?

[mogandave]

Which, of course he should. Selling high and buying low.

His objectivity is suspect.

[ted4647]

The piece in BP a month or so ago,leading Thai academic stated Prayat and his bunch have about 3 months after the election to sort the pressing needs of the population to any degree,after that,and the yolk of military rule erased will give greater freedom of expression,which is a good thing in reality as military rule will be re re stablished which would lead to international sanctions being placed on Thailand

[Ban Phe Dezza]

17 hours ago, Buffy Frobisher said:

And the Australian dollar crashing in the past 24 hours isn't exactly a great start to the new year. Today at 22.41, from 24.10 just a month ago. It's starting to hurt, and they're saying that it will lose another 10% of its value against the US$ this year. Just wondering out loud - has anyone found a way of transferring AUD here and eliminating the outrageous fees with a standard CBA transfer? The $22 transfer fee is bad enough, but when you add on the US interchange touch-up with every transfer being sent via JP Morgan before it gets to Bangkok Bank it's now ridiculous.

Hi have a look at Transfer wise and Orbit remit both supply a site were you can check how much you will receive  today for $1000.00 cost both will pay out  approximately 22,300 Baht into your Bank account Note whilst T W have a slightly higher charge the exchange rates are higher thus it averages out to toss a coin  PS I use Both 

[JaiLai]

Most rural adult workers (80% of the Thai population) earn less than 3000bht/month.
1/3 of the minimum wage.

Nonsense


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[Naam]

Quote

AtoZ said:

I find this BS...

Thailand is a under military and growth in 2018 under 4%

meantime Vietnam locked over 7% growth in 2018 but THB is up on VND by 5%

something something smells here 

 

-Thailand GDP USD 455 billion,

-Viet Nam GDP 233 billion.

 

-Thailand forex reserves USD 202 billion,

-Viet Nam forex reserves USD 50 billion.

 

-Thailand population 69 million,

-Viet Nam population 96 million.

 

looking at these figures i conclude your comment smells of some ignorance respectively lack of homework.

[SiamAndy]

6 hours ago, SheungWan said:

Decisive currency movements can knock one off one's perch. Plus throw in inflation. How uncomfortable is it to reduce one's expenditure if required is the question.

Just this month my rent has increased, my barber raised his prices, and I noticed several price increases at Tops and Makro. Inflation is worse than what the Thai government states.

[SheungWan]

12 hours ago, SheungWan said:

Decisive currency movements can knock one off one's perch. Plus throw in inflation. How uncomfortable is it to reduce one's expenditure if required is the question.

 

11 hours ago, Henryford said:

If you have to give up girls and wine, why stay in Thailand?

Reduction in expenditure does not necessarily imply a binary on/off switch on spending categories.

[SheungWan]

6 hours ago, SiamAndy said:

Just this month my rent has increased, my barber raised his prices, and I noticed several price increases at Tops and Makro. Inflation is worse than what the Thai government states.

A haircut costs 100 baht or so. Hardly a game changer. Rent increase can be fixed by moving to a cheaper location. Inflation can be counteracted by eating cheaper.

Edited January 4, 2019 by SheungWan

[AtoZ]

7 hours ago, Naam said:

 

-Thailand GDP USD 455 billion,

-Viet Nam GDP 233 billion.

 

-Thailand forex reserves USD 202 billion,

-Viet Nam forex reserves USD 50 billion.

 

-Thailand population 69 million,

-Viet Nam population 96 million.

 

looking at these figures i conclude your comment smells of some ignorance respectively lack of homework.

Learn what growth means before you comment.

 

It's the same as high growth startups are valued much higher than established corporations.

 

2013-2017 the Thai GDP went up by 8%

 

2013-2017 the Vietnamese GDP went up by 31%

 

The difference will be only greater when 2018 data is finalized.

 

After you learn what growth means, I recommend bit of reading on compounding effect.

Edited January 4, 2019 by AtoZ

[Naam]

11 hours ago, AtoZ said:

I recommend bit of reading on compounding effect.

[Banana7]

There should be some relief on exchange rates after high season, starting March. In April there will be a spike around Songkran. May to July should see better exchange rates. Better means more baht for USD.

[Terratrader]

The last financial crisis in Asia started in Thailand. Because of this Thailand has built up a very solid position afterwards, which is why it currency holds firm in the current unstable economic and political climate in most of the world.

[soalbundy]

On 1/4/2019 at 7:41 PM, SheungWan said:

A haircut costs 100 baht or so. Hardly a game changer. Rent increase can be fixed by moving to a cheaper location. Inflation can be counteracted by eating cheaper.

same here, I don't care about petrol prices for instance, I only tank for 500 Baht a time