Great News For All Of Us !

[topfield]

From 66 to the pound where its been all night, the BOT just came out of their slumber and back into the market and has pushed the pound back over 70....yes friends.....to over 70 !!!

Did mention in postings yesterday eve to wait until 8am before taking your cyanide capsule as BOT could intervene in the market...............well they have !!!

My goodness these are exciting times !!

Nothing like this since the crises on May June '97/January '98

[bendix]

well, i've just checked the rates on both yahoo finance and xe.com, toppers, and I see no evidence of this.

what's your source?

[andy1308]

Have a look at :

http://newsvote.bbc.co.uk/2/shared/fds/hi/...78/intraday.stm

Dollar is up more than five per cent already - now 35.915. I think it's going to be a rollercoaster day today on the for-ex markets. But what do I know?

[topfield]

well, i've just checked the rates on both yahoo finance and xe.com, toppers, and I see no evidence of this.

what's your source?

Here we are my sceptical friend

http://kasikornbank.com/GlobalHome/EN/misc.../rate/rate.html

Suggest that rates taken from overseas ie bbc and yahoo are NOt the ones to rely on as that is

the OFFSHORE rate they give.

[taxexile]

all the sites are showing differing values , from 66 to 70 , the bbc sites show huge spikes on its graphs.

not sure whether to buy that bentley or fire the butler.

[topfield]

all the sites are showing differing values , from 66 to 70 , the bbc sites show huge spikes on its graphs.

not sure whether to buy that bentley or fire the butler.

Hi Taxexile

As mentioned the only sites that are relevant for expats in Thailand are those that give the ONSHORE BAHT rate.

Try this morning's rates from Bangkok Bank

http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

[sfokevin]

Ms Tarisa is very serious today - she has not left her desk once

[buriramboy]

Topfield just out of curiosity what do you do at weekends when the currency markets are closed???????

BB

[pumpuiman]

USD : 50-100 35.47

cyanide?.....this is onshore rate

34.37...offshore

I'm not joining topfield in his sigh of relief yet......But hoping.

[taxexile]

Try this morning's rates from Bangkok Bank

that link shows 69.5 , but xe com shows 67.5.

how come the huge discrepancy ? how can 2 hugely different rates be operating at the same time?

and which rate is used for converting funds transferred into thailand from the uk?

[bendix]

Ms Tarisa is very serious today - she has not left her desk once

But she's taken a few toilet breaks when it comes to taking care of the Sterling cross rate.

http://newsvote.bbc.co.uk/1/shared/fds/hi/...78/intraday.stm

Poor old toppers and his handful of travellers' cheques.

[wasabi]

Topfield just out of curiosity what do you do at weekends when the currency markets are closed???????

BB

While it's silly to have 4 simultaneous threads about F/X rates I have to admit I think about it almost as often as Mr. T-field

[buriramboy]

why waste your time thinking so much about something that you have absolutely no control over? what will be will be.

BB

[topfield]

why waste your time thinking so much about something that you have absolutely no control over? what will be will be.

BB

Wasn't that the 50's song, by Doris Day ...che sera sera ?

Certainly DO excercise control. Control in the timing..........the key to wealth and fortune or poverty esp in the stock market

[naka]

My goodness these are exciting times !!

I'm just waiting for the day when Topfield first discovers sex

Naka.

[konangrit]

As mentioned the only sites that are relevant for expats in Thailand are those that give the ONSHORE BAHT rate.

I like many others withdraw money from a foreign bank account (UK Nationwide in my case) through ATM machines. I don't think for one minute that my UK bank will apply the "onshore rate" to these transactions. I guess that I could open a Thai current account and transfer Sterling into it and use that for my day to day expenses, but then I'll have to pay charges on those transactions. I think those charges are fixed, not a %, so bringing in a larger amount would be the way to go, but isn't there a $20,000 (I think, not sure about that) limit before the BOTs capital control measures kick in?

[britmaveric]

My goodness these are exciting times !!

I'm just waiting for the day when Topfield first discovers sex

Naka.

I think this is better than shagging for him!!!

[SeanBangkok]

If I am going to the ATM, how do I figure out what the exchange rate is going to be?

[JimsKnight]

If I am going to the ATM, how do I figure out what the exchange rate is going to be?

Maybe you can't maybe its up to the whims of the bank manager to gimble the rates accordingly.

And then he goes home with a new suit!

[topfield]

Reply to points made/query SEANBANGKOK & KONANGRIT

The Nationwide ATM'S in TH clearly apply the ONSHORE higher rate...it's a mystery how they do this.

How to know the rate ?

After every ATM withdrawal there is an instantaneous reduction on your available balance.

If you calculate the rate from this deduction you will get an approx rate while you await the final rate which appears around 16-40 hours later. Both amounts viewable on your online statement.

Saturday/Sunday a good time to do this as the rate does not move so you will know the exact rate you are getting from the first "trial" withdrawal on the Saturday morning.

[johnnyk]

all the sites are showing differing values , from 66 to 70 , the bbc sites show huge spikes on its graphs.

not sure whether to buy that bentley or fire the butler.

Your wife told me she'd happily fire the butler if you would learn how to make love

[taxexile]

Your wife told me she'd happily fire the butler if you would learn how to make love

next time you see her tell her i'm working on it with the help of the maid.

[macb]

I have just checked 0848 hrs

xe.com 65.6 bht to GBP

33.4 bht to USD

[JimmyGreaves]

Nationwide are giving the onshore rate, just got 70.55 to the UK Pound.

What I really want to know is what rate will I get when I transfer money from my bank in the UK in sterling to be converted to baht this end?

[konangrit]

Nationwide are giving the onshore rate, just got 70.55 to the UK Pound.

What I really want to know is what rate will I get when I transfer money from my bank in the UK in sterling to be converted to baht this end?

Ok that's good news, shame I left my card in the ATM the other day....

You'll get the (better) onshore rate.

[Maestro]

Just how long, I wonder, can the Bank of Thailand keep buying dollars until it runs out of Baht?

Aside from that, this dollar buying spree puts the Baht in short supply and, with currency markets following the same law of supply and demand as sugar and rice, this will drive up the price for the Baht up even more, I should think.

--

Maestro

[JacknDanny]

why waste your time thinking so much about something that you have absolutely no control over? what will be will be.

BB

Wasn't that the 50's song, by Doris Day ...che sera sera ?

Certainly DO excercise control. Control in the timing..........the key to wealth and fortune or poverty esp in the stock market