topfield Posted January 29, 2007 Share Posted January 29, 2007 I visit Singapore and go to Mustafa's which is known for the best note rates in the City State. At this moment they will give me S$39.70 for my Baht 1000 note I return to Bangkok and go to Super Rich which gives the best note rates in Bangkok. They will give me 23.20 for each Sing dollar So I end up with Baht 921 for my original note......a loss of around Baht 80!!! Make a profit ? An emphatic NO Link to comment Share on other sites More sharing options...
OlRedEyes Posted January 29, 2007 Share Posted January 29, 2007 OK. Link to comment Share on other sites More sharing options...
billaaa777 Posted January 29, 2007 Share Posted January 29, 2007 Topfield, you really don’t get it at all!!! Why not wire funds to the US were a dollar cost 34.0264 at the moment. And then wire funds back to Thailand were the banks will pay you 35.67. Do you make a profit that way? Link to comment Share on other sites More sharing options...
bendix Posted January 29, 2007 Share Posted January 29, 2007 OK Link to comment Share on other sites More sharing options...
topfield Posted January 29, 2007 Author Share Posted January 29, 2007 Topfield, you really don’t get it at all!!! Why not wire funds to the US were a dollar cost 34.0264 at the moment. And then wire funds back to Thailand were the banks will pay you 35.67. Do you make a profit that way? Dear bilaaa77 Words words words ..please copy and paste for Thaivisa the actual US$ buying rate for baht from the bank concerned's public website. Once this info is received...if in fact it exists, will telephone them to confirm or otherwise the info just given and publish their reply on this forum. Thank you Link to comment Share on other sites More sharing options...
danone Posted January 29, 2007 Share Posted January 29, 2007 again, and hopefully for the last time: whats your problem topfield? why shouldnt you make a loss with this deal?! ah, you want to moon to circle around the sun. well, if you walk on your hands, all prophecy becomes fact. Link to comment Share on other sites More sharing options...
sbk Posted January 29, 2007 Share Posted January 29, 2007 Lets try to keep this discussion to the topic at hand without personal insults, flaming or abuse, thanks Link to comment Share on other sites More sharing options...
GuestHouse Posted January 29, 2007 Share Posted January 29, 2007 The founding of banks offering exchange rates to foreign currencies, guarantee notes and other services to people trading across boarders provided the means by which the west grew extremely wealthy while the rest of the world languished in petty trade. If all you had in Singapore was your Bht1000 note and nowhere to change it to S$, well, you'd eventually starve. Link to comment Share on other sites More sharing options...
bendix Posted January 29, 2007 Share Posted January 29, 2007 (edited) Lets try to keep this discussion to the topic at hand without personal insults, flaming or abuse, thanks But there is no topic to discuss, sbk. Really, what on earth was the point of starting this thread? You go to Singapore and buy Singapore dollars with your baht. You come home and change it back. You lose 5-10%. Well, duh!!!! When wouldn't that happen? It's completely normal. And yet, once again, this startling piece of obvious information is posted as if it's some kind of inspired revelation . . . Edited January 29, 2007 by bendix Link to comment Share on other sites More sharing options...
sbk Posted January 29, 2007 Share Posted January 29, 2007 Beats the heck out of me bendix, I thought perhaps it was leading to something more, but alas, I suspect you are right. Link to comment Share on other sites More sharing options...
samran Posted January 29, 2007 Share Posted January 29, 2007 I visit Singapore and go to Mustafa's which is known for the best note rates in the City State.At this moment they will give me S$39.70 for my Baht 1000 note I return to Bangkok and go to Super Rich which gives the best note rates in Bangkok. They will give me 23.20 for each Sing dollar So I end up with Baht 921 for my original note......a loss of around Baht 80!!! Make a profit ? An emphatic NO Why should you be able to make a profit Topfield? I'm facinated. Why are people supposed to pay you money to provide a service to you? Even with the dual rate, why should it be the other way around? If you explain this to me, I promise I'll take my economics text book from university and eat it for dinner tonight. Link to comment Share on other sites More sharing options...
billaaa777 Posted January 29, 2007 Share Posted January 29, 2007 Dear bilaaa77Words words words ..please copy and paste for Thaivisa the actual US$ buying rate for baht from the bank concerned's public website. I used that rate because it is what Siam Commercial Bank paid me an hour before the post I made for a condo I am buying. In fact I went and opened my safe to get the exact figure. For the international rate I used (http://www.xe.com/ucc/), which I believe provides accurate up-to-date information. Maybe there are other sites they provide real time quotes, I don’t know of them, sorry. If you are interested in the approximate rate a bank will pay you can check the Bangkok posts site for those mornings’ quotes. Link to comment Share on other sites More sharing options...
buriramboy Posted January 29, 2007 Share Posted January 29, 2007 Topfield your fascination with the level of the baht intrigues me, are you a day trader?, are you actually making money out of this? are you a financial advisor? I ask because your posts never really seem to have a point, and you draw no conclusions from others posts. Feel free to enlighten me. BB Link to comment Share on other sites More sharing options...
fxm88 Posted January 29, 2007 Share Posted January 29, 2007 You go to Singapore and buy Singapore dollars with your baht. You come home and change it back. You lose 5-10%. Well, duh!!!! When wouldn't that happen? It's called Arbitrage, you maroon. Link to comment Share on other sites More sharing options...
samran Posted January 29, 2007 Share Posted January 29, 2007 You go to Singapore and buy Singapore dollars with your baht. You come home and change it back. You lose 5-10%. Well, duh!!!! When wouldn't that happen? It's called Arbitrage, you maroon. firstly, I think Bendix would be quite offended that you are calling him a Queenslander. Them's fighting words. Secondly, I actually think he was being sarcastic. Link to comment Share on other sites More sharing options...
bendix Posted January 29, 2007 Share Posted January 29, 2007 You go to Singapore and buy Singapore dollars with your baht. You come home and change it back. You lose 5-10%. Well, duh!!!! When wouldn't that happen? It's called Arbitrage, you maroon. firstly, I think Bendix would be quite offended that you are calling him a Queenslander. Them's fighting words. Secondly, I actually think he was being sarcastic. *sigh* Link to comment Share on other sites More sharing options...
steveromagnino Posted January 30, 2007 Share Posted January 30, 2007 You go to Singapore and buy Singapore dollars with your baht. You come home and change it back. You lose 5-10%. Well, duh!!!! When wouldn't that happen? It's called Arbitrage, you maroon. firstly, I think Bendix would be quite offended that you are calling him a Queenslander. Them's fighting words. Secondly, I actually think he was being sarcastic. First, I think that arbitrage is actually a small hesitation prior to a small amount of anger, so I am not sure what this is all about? Traditionally, I would not have thought someone would profiteer from investing in flying to SIngapore and manually carrying all that mulah around, isn't arbitrage where you do it all electronically, typically triangular arbitrage in the case of a pegged rate currency via a lessor traded currency? hel_l, just as well I am not mista big money bags currency trada innit. Secondly, I doubt Bendix was being sarcastic. He has vast knowledge about IP and stuff, but I don't think he knows much about currency. He is here for the education. Please keep him informed on the daily movements of every currency relative to the baht, and potential profits and losses thereof. He loves to make thousands, when he could make millions. Link to comment Share on other sites More sharing options...
bendix Posted January 30, 2007 Share Posted January 30, 2007 traded currency? hel_l, just as well I am not mista big money bags currency trada innit.Secondly, I doubt Bendix was being sarcastic. He has vast knowledge about IP and stuff, but I don't think he knows much about currency. He is here for the education. Please keep him informed on the daily movements of every currency relative to the baht, and potential profits and losses thereof. He loves to make thousands, when he could make millions. Oh brilliant. Thanks for that steve . . just what I need. You're a great help . . Link to comment Share on other sites More sharing options...
mexxx Posted January 30, 2007 Share Posted January 30, 2007 to the op : its really quite simple. the $s has been weakening & the tb has been strengthening + fees & guess what, its not ever going to be an exact science. Link to comment Share on other sites More sharing options...
danone Posted January 30, 2007 Share Posted January 30, 2007 Lets try to keep this discussion to the topic at hand without personal insults, flaming or abuse, thanks abuse? flaming? bear with me, but the OP had in another thread forseen a major announcement of the BOT on monday, whereas it was made clear to him that there wont be any announcement. here we go, no announcement whatsoever, no panic anywhere, things are getting under control, just the OP himself keeps on jumping on everyone's head. i'd say redcard him. Link to comment Share on other sites More sharing options...
sbk Posted January 30, 2007 Share Posted January 30, 2007 Multiple threads about the baht and baht trading are already running. Since this one is clearly pointless it is closed.. ***CLOSED**** Link to comment Share on other sites More sharing options...
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