Monday 8am A Big Hug For Tarisa

[topfield]

Baht rate at 8.02 Monday morning

CNBC Asia 33.53

Bloomberg 35.85

Great news for us expats !!!

[Master of the court]

Baht rate at 8.02 Monday morning

CNBC Asia 33.53

Bloomberg 35.85

Great news for us expats !!!

[sriracha john]

This couldn't be included in the other "monster thread" on the baht?

[jumnien]

Hugging public officials? Wouldn't a respectful wai be more culturally appropriate?

[danone]

topfield, dunno what your interest in this thingy is, but you seem to drive everybody mad with your, ehem, analysis.

once again. the situation is under control, onshore the baht is de facto softly pegged.

read your recent other panic-thread. all had been explained to you.

[womble]

Jeez.....

Do we really need another blasted thread on this........

TopField you quite clearly do not have even a basic understanding of the forex markets, so why all these topics?

[JacknDanny]

Topfield...

Why not take up dominos or chess?

Or buy yourself a TV set?

We already have several threads on this topic. Why keep going on and on and on and on and on and on????

[bendix]

Guys guys guys, please! Toppers is only trying to make us all understand the intricacies of the forex markets, something he alone knows yet - graciously - deigns to educate us on.

His advice, his dedication, his commitment to the cause - we should applaud him and carry him on our collective shoulders for his services to Thaivisa.

Well, either that, or he's an idiot. You decide.

[naka]

Perhaps not an Idiot ... But a Fanatic for sure.

Naka.

[pumpuiman]

Baht high 'and headed higher'

(Agencies)

The Thai baht has become the world's best performing currency this year, and has increased to about 33 per US dollar on international markets.

The currency will rise to 32.50 baht per dollar in three months and increase to 32 per dollar by year-end, said a weekend analysis. At 4:30 this morning Thailand time, the currency was trading at 33.425 on the New York market.

Currency analysts believe the Thai baht will rally even more. International investors are likely to increase purchases of local stocks after the lifting of martial law, according to Mellon Financial Corp.

Samarjit Shankar, director of global strategy for the foreign exchange group in Boston at Mellon Financial Corp, said on the weekend, "There has been a relief among investors that the economic prospects are not hampered by political instability. The outlook looks favourable for the baht."

"Favourable" as in - the baht is headed for exchange rates not seen since 1997.

This is good news?

Pegged onshore or not....This sucks for ex-pats.

[Briggsy]

Baht rate at 8.02 Monday morning

CNBC Asia 33.53

Bloomberg 35.85

Great news for us expats !!!

I don't follow, which expats? The ones who get paid in Baht and send money out or the ones who are bringing money in.

[topfield]

Baht rate at 8.02 Monday morning

CNBC Asia 33.53

Bloomberg 35.85

Great news for us expats !!!

I don't follow, which expats? The ones who get paid in Baht and send money out or the ones who are bringing money in.

Both !! Those who get paid in baht can exchange outside Thailand . Those that need baht can get them here. Either way expats are the winners

[goldfish]

Baht rate at 8.02 Monday morning

CNBC Asia 33.53

Bloomberg 35.85

Great news for us expats !!!

I don't follow, which expats? The ones who get paid in Baht and send money out or the ones who are bringing money in.

Both !! Those who get paid in baht can exchange outside Thailand . Those that need baht can get them here. Either way expats are the winners

[topfield]

In reply to those few people who deigned to criticise information imparted regarding the current exchange rate here in Thailand may I be permitted to offer a reply / defence ?

1. Over twenty thousand people were interested enough to read these recent postings on the baht exchange rate . Of course a handful of people would complain...that is their right..(.insulting language used by two posters who will not be named is a different matter and is in any case against the rules of this forum )

2. Had a new thread not been opened and the latest info added to the existing thread as suggested by one poster ,readers could not have known on opening the topic that the BOT are continuing their dual rate policy. The system here allows the info header to be posted only by the first poster . After that it gives only last post and the name.

3. Every single expat in Thailand is affected one way or other by the baht exchange rate.

4. The incredulous system which has arisen in the last week whereby there are two distinct baht rates 65 offshore and 70 to the pound onshore needs to be made known as even UK based fx dealer was unaware of this new system.Monday was start of the week and nobody was sure what would happen when the bot opened its doors for business this morning and many wanted to know

5. The amazing result of the above which equates in practice to an unprecedented four baht gift for tourists and expats on every pound exchanged in Thailand !!

6. Those not interested in reading any posting should simply refrain from clicking on the posting as there are thousands of other postings on this forum. Those that do want the latest accurate and informative info on the baht please stay tuned

Thank you

[dave111223]

My ATM card seems to charge me the offshore rate, anything i can do?

[goldfish]

Baht rate at 8.02 Monday morning

CNBC Asia 33.53

Bloomberg 35.85

Great news for us expats !!!

I don't follow, which expats? The ones who get paid in Baht and send money out or the ones who are bringing money in.

Both !! Those who get paid in baht can exchange outside Thailand . Those that need baht can get them here. Either way expats are the winners

I can't exchange outside thailand. Just tried, can only change into gbp here and then transfer. Is this correct? Is there another way? Have a fair chunk of money here which I no longer wish to keep in this country

[sfokevin]

So if one were to wire transfer funds into Thailand one should request that dollars be transfered and then one would get the onshore BoT promotional rate - Right?

Edited January 29, 2007 by sfokevin

[sriracha john]

2. Had a new thread not been opened and the latest info added to the existing thread as suggested by one poster ,readers could not have known on opening the topic that the BOT are continuing their dual rate policy. The system here allows the info header to be posted only by the first poster . After that it gives only last post and the name.

And you chose the wording to use in your header as, "Monday 8am A Big Hug For Tarisa" to alert readers to the nuances of the difference between this thread and the other thread you started?

uhmm.... ok.

You might get more positive results if you choose words that more specifically point out that which are you are trying to communicate.

[goldfish]

So if one were to wire transfer funds into Thailand one should request that dollars be transfered and then one would get the onshore BoT promotional rate - Right?

Correct, but after speaking to my banks head office I have been told they cannot transfer thai baht overseas

[backflip]

Yeah! The word "deigned" was used twice in 90 minutes. Dang, we are good!

[bendix]

In reply to those few people who deigned to criticise information imparted regarding the current exchange rate here in Thailand may I be permitted to offer a reply / defence ?

1. Over twenty thousand people were interested enough to read these recent postings on the baht exchange rate . Of course a handful of people would complain...that is their right..(.insulting language used by two posters who will not be named is a different matter and is in any case against the rules of this forum )

2. Had a new thread not been opened and the latest info added to the existing thread as suggested by one poster ,readers could not have known on opening the topic that the BOT are continuing their dual rate policy. The system here allows the info header to be posted only by the first poster . After that it gives only last post and the name.

3. Every single expat in Thailand is affected one way or other by the baht exchange rate.

4. The incredulous system which has arisen in the last week whereby there are two distinct baht rates 65 offshore and 70 to the pound onshore needs to be made known as even UK based fx dealer was unaware of this new system.Monday was start of the week and nobody was sure what would happen when the bot opened its doors for business this morning and many wanted to know

5. The amazing result of the above which equates in practice to an unprecedented four baht gift for tourists and expats on every pound exchanged in Thailand !!

6. Those not interested in reading any posting should simply refrain from clicking on the posting as there are thousands of other postings on this forum. Those that do want the latest accurate and informative info on the baht please stay tuned

Thank you

Over 20,000 people come to read your stuff because it's so compellingly trite, topfield.

The objection isn't your zealotry, although - god knows - that's fascinating enough. Please please please try to get some other interests.

I personally object to your self-appointed role as exchange rate supremo when it's obvious you don't know what you're talking about most of the time and seem, instead, to 'get off' on hypothesis and a bizarre excitement at being first with the news.

And then you make gross, ill-informed assumptions, such as talking about the BOT's dual-rate policy. Is there an official policy? What basis do you have for knowing there is an intentional policy there? Do you have inside information? Contacts at the BOT? Your suppositions are just that - conjecture, and nothing else. At best they are meaningless, at worst positively dangerous.

So far as I know you have absolutely no basis for giving financial advice, and yet each post is usually completed with a sanctimonious 'advice' to act now or wait for 8am, or whatever. Could you please explain what qualifications you have to give financial advice? Are you licenced? Will you take responsibility for any losses or lost opportunities people might make taking your advice?

No?

I thought not.

You are a Thaivisa legend, toppers old friend, but for the wrong reasons.

[Gaudente]

So if one were to wire transfer funds into Thailand one should request that dollars be transfered and then one would get the onshore BoT promotional rate - Right?

Correct, but after speaking to my banks head office I have been told they cannot transfer thai baht overseas

As I am seriously thinking to pull money OUT of this country (I have some baht liquidity after selling Thai stocks), I would like to know if there is any way to enjoy the off-shore exchange rate. Unfortunately the baht increases its value only after Thai banking hours. If I want to wire out my baht, I have to change them in $ , at a rate of almost 36. A rate of 33 after my bank closes is quite useless...

[chiang mai]

In reply to those few people who deigned to criticise information imparted regarding the current exchange rate here in Thailand may I be permitted to offer a reply / defence ?

1. Over twenty thousand people were interested enough to read these recent postings on the baht exchange rate . Of course a handful of people would complain...that is their right..(.insulting language used by two posters who will not be named is a different matter and is in any case against the rules of this forum )

2. Had a new thread not been opened and the latest info added to the existing thread as suggested by one poster ,readers could not have known on opening the topic that the BOT are continuing their dual rate policy. The system here allows the info header to be posted only by the first poster . After that it gives only last post and the name.

3. Every single expat in Thailand is affected one way or other by the baht exchange rate.

4. The incredulous system which has arisen in the last week whereby there are two distinct baht rates 65 offshore and 70 to the pound onshore needs to be made known as even UK based fx dealer was unaware of this new system.Monday was start of the week and nobody was sure what would happen when the bot opened its doors for business this morning and many wanted to know

5. The amazing result of the above which equates in practice to an unprecedented four baht gift for tourists and expats on every pound exchanged in Thailand !!

6. Those not interested in reading any posting should simply refrain from clicking on the posting as there are thousands of other postings on this forum. Those that do want the latest accurate and informative info on the baht please stay tuned

Thank you

Over 20,000 people come to read your stuff because it's so compellingly trite, topfield.

The objection isn't your zealotry, although - god knows - that's fascinating enough. Please please please try to get some other interests.

I personally object to your self-appointed role as exchange rate supremo when it's obvious you don't know what you're talking about most of the time and seem, instead, to 'get off' on hypothesis and a bizarre excitement at being first with the news.

And then you make gross, ill-informed assumptions, such as talking about the BOT's dual-rate policy. Is there an official policy? What basis do you have for knowing there is an intentional policy there? Do you have inside information? Contacts at the BOT? Your suppositions are just that - conjecture, and nothing else. At best they are meaningless, at worst positively dangerous.

So far as I know you have absolutely no basis for giving financial advice, and yet each post is usually completed with a sanctimonious 'advice' to act now or wait for 8am, or whatever. Could you please explain what qualifications you have to give financial advice? Are you licenced? Will you take responsibility for any losses or lost opportunities people might make taking your advice?

No?

I thought not.

You are a Thaivisa legend, toppers old friend, but for the wrong reasons.

I think that was offensive and inappropriate. The Poster has an interest, has been willing to put in the time and effort to provide a large number of people with information and has done so diligently. As he said, if you don't like it don't click on it but above all don't have a go at him for trying.

[sfokevin]

I second that - If you don't like the content and do not have anything to contribute then go elsewhere... Topfield has every right to sit at the bar and say what he feels...

[bendix]

Offensive to point out that much of the information is misleading, and that the minute it's posted it's usually out of date? Offensive to question credentials for giving advice, when the whole raison d'etre of the threads are to give financial advice?

Offensive for giving the misleading impression that there is an official BOT dual-rate policy, when there patently isn't. But merely saying it gives readers the impression there is one, because he says it enough.

Fact. My company is in touch with BOT daily on this. We have several high-level contacts with BOT officials, including the Governer herself.

There is no dual-rate policy. The BOT is as baffled as anyone as to what is going on.

But, you see, when some of us don't know what is happening, we don't pretend we do . . .

If that's offensive, so be it.

[jumbo2]

In reply to those few people who deigned to criticise information imparted regarding the current exchange rate here in Thailand may I be permitted to offer a reply / defence ?

1. Over twenty thousand people were interested enough to read these recent postings on the baht exchange rate . Of course a handful of people would complain...that is their right..(.insulting language used by two posters who will not be named is a different matter and is in any case against the rules of this forum )

2. Had a new thread not been opened and the latest info added to the existing thread as suggested by one poster ,readers could not have known on opening the topic that the BOT are continuing their dual rate policy. The system here allows the info header to be posted only by the first poster . After that it gives only last post and the name.

3. Every single expat in Thailand is affected one way or other by the baht exchange rate.

4. The incredulous system which has arisen in the last week whereby there are two distinct baht rates 65 offshore and 70 to the pound onshore needs to be made known as even UK based fx dealer was unaware of this new system.Monday was start of the week and nobody was sure what would happen when the bot opened its doors for business this morning and many wanted to know

5. The amazing result of the above which equates in practice to an unprecedented four baht gift for tourists and expats on every pound exchanged in Thailand !!

6. Those not interested in reading any posting should simply refrain from clicking on the posting as there are thousands of other postings on this forum. Those that do want the latest accurate and informative info on the baht please stay tuned

Thank you

Over 20,000 people come to read your stuff because it's so compellingly trite, topfield.

The objection isn't your zealotry, although - god knows - that's fascinating enough. Please please please try to get some other interests.

I personally object to your self-appointed role as exchange rate supremo when it's obvious you don't know what you're talking about most of the time and seem, instead, to 'get off' on hypothesis and a bizarre excitement at being first with the news.

And then you make gross, ill-informed assumptions, such as talking about the BOT's dual-rate policy. Is there an official policy? What basis do you have for knowing there is an intentional policy there? Do you have inside information? Contacts at the BOT? Your suppositions are just that - conjecture, and nothing else. At best they are meaningless, at worst positively dangerous.

So far as I know you have absolutely no basis for giving financial advice, and yet each post is usually completed with a sanctimonious 'advice' to act now or wait for 8am, or whatever. Could you please explain what qualifications you have to give financial advice? Are you licenced? Will you take responsibility for any losses or lost opportunities people might make taking your advice?

No?

I thought not.

You are a Thaivisa legend, toppers old friend, but for the wrong reasons.

You may all laugh and joke at Topfield but as the central bank has just banned Non-deliverable forwad contarct(see my recent post) its going to get alot worse before it gets better.It will get harder and harder to bring money in or out,he;s only trying to help people out and let them know whats going on.If things carry on like this no one will be able to get money in or out

[Briggsy]

Next to my keyboard I have a bag of mangosteen. I am offering said bag of mangosteen as the prize for anybody who can exchange 1000 Baht and get more than 29 US dollars in return. Obviously you can pro rata this up if you want.

The rules state that you actually have to do the transaction and report back where and how you exchanged the money. If there are transaction fees, you must factor these in.

[teej]

So if one were to wire transfer funds into Thailand one should request that dollars be transfered and then one would get the onshore BoT promotional rate - Right?

Correct, but after speaking to my banks head office I have been told they cannot transfer thai baht overseas

As I am seriously thinking to pull money OUT of this country (I have some baht liquidity after selling Thai stocks), I would like to know if there is any way to enjoy the off-shore exchange rate. Unfortunately the baht increases its value only after Thai banking hours. If I want to wire out my baht, I have to change them in $ , at a rate of almost 36. A rate of 33 after my bank closes is quite useless...

Well I just got raped trying to get money out of the country to Hong Kong. Transferred 128,750 HKD at a whopping rate of 4.6125 which was 594,xxx THB.... meanwhile mid-market rates worldwide are around 4.35 THB/HKD... a loss in the order of around 34,xxx THB... 1K USD!!!! Needless to say I'm a bit upset...

If I hadn't needed to have the money in HK by tomorrow, I would have run down to Super Rich (does anybody know what rates SuperRich is offering for the USD or HKD?), exchanged my money, and flew it myself to Hong Kong.... and gone on a shopping spree with the cash I had saved...

If you want to get money out of Thailand, go with the black market and courrier yourself, or carry THB out and hit the black market at your final destination.... If it wasn't absolutely necessary that I make the transfer this morning, I would have taken that route. Cheers.

[Briggsy]

Unlucky Teej. I keep the mangosteen.

[teej]

Unlucky Teej. I keep the mangosteen.

For now, yes... but I will find a way to get my hands on that mangosteen! Mark my words!!!