USD$ Gaining Against Thai Baht

[HerbalEd]

6 hours ago, Sheryl said:

Any predictions on further rises and for how long? I am going to have to transfer USD in sometime between now and April to meet visa requirement, would like to time it for favorable exchange rate.

Don't we all? I just now ordered a large sum of money to be sent from my USA acct. to my Thai acct. Meanwhile I'll hold my breath until tomorrow morning when the money arrives.

[rumak]

3 hours ago, Pinot said:

 

My experience is I've never been able to time the market so I just ignore it. It is what it is. 

you must be an amateur.   i can tell you absolutely when the market will go down..... it will go down the day after i buy !

Edited October 29, 2018 by rumak

[janclaes47]

21 minutes ago, Banana7 said:

rate could drop, maintain or improve.

That's spoken like the real professionals.

[rumak]

28 minutes ago, Banana7 said:

rate could drop, maintain or improve.

pretty insightful stuff !   haha  jc47 beat me to the punchline

Edited October 29, 2018 by rumak

[Suradit69]

15 minutes ago, fullcave said:

Got a source?

Yes, common sense.  It wasn't long ago when the notes with an older portrait of Rama IX were commonly in circulation and they were replaced over time with a newer portrait. Old notes were slowly removed from circulation and new notes used to replace them.

 

In fact over the years the Kings portrait has been updated and new bills issued as old notes became worn and torn.

 

The process of replacing worn, damaged notes with fresh notes is undertaken constantly but only noticeable when the design changes.

 

In addition to that:

Quote

 

Launched in denominations of 20, 50 and 100 baht, the bills mark another step forward in the nation's new era, replacing notes bearing the picture of his father, the late King Bhumibol Adulyadej, who reigned for 70 years.

The launch of the new notes, along with nine coins, came on the national holiday that commemorates the founding of the current Chakri dynasty in 1782. The 500 baht and 1,000 baht versions will be released on July 28, the 66th birthday of the king, who assumed the throne in late 2016 following the passing of his much-revered father.

 

The central bank expects it will take several years to replace the old currency.

 

https://asia.nikkei.com/Economy/Thailand-marches-forward-with-issuance-of-new-bank-notes

 

And in other countries:

 

Quote

U.S. paper currency is technically a Federal Reserve note, printed by Bureau of Engraving and Printing. Most of the notes are printed to replace damaged currency that is taken out of circulation and destroyed. A dollar bill has a life span of less than two years, for example, while a $100 bill lasts, on average, more than seven years. There is about $750 billion in U.S. currency in circulation; the Fed estimates that most of it is outside the United States.

http://www.nbcnews.com/id/16328073/ns/business-answer_desk/t/where-does-newly-printed-money-go/#.W9cn6ZMzYfk

 

Quote

The life expectancy of paper money varies anywhere between a day to 18-24 months for the most commonly used bank notes. The higher the denomination of the note, the longer it tends to last,  and thus stay in circulation longer. The Canadian government spends a lot of money every year related to printing costs, replacing torn and worn out bills.

https://www.zdnet.com/article/polymer-to-replace-cotton-in-canadian-currency-notes/

 

Quote

Banks send unneeded currency to one of 28 Federal Reserve offices around the country. There the cash is sorted and checked for counterfeits. The Fed also assesses whether bills are still usable or should be retired from circulation. Currency that is no longer usable is no longer legal tender. If it is no longer usable, it is removed from circulation and shredded. Some shredded bills are put in bags and sold as souvenirs to Fed visitors, but most are recycled. Once the Fed has reviewed the notes and replaced the worn currency with fresh new bills, it returns the cash to the bank.

https://www.investopedia.com/terms/w/worn-currency.asp

 

 

[JerseytoBKK]

7 hours ago, Sheryl said:

Any predictions on further rises and for how long? I am going to have to transfer USD in sometime between now and April to meet visa requirement, would like to time it for favorable exchange rate.

I'd bring in half now and half in April. Hedge a move in either direction.

 

While it's possible for the rate to move up to 35.2, it's also possible for it to drop to 31.5. In the last 3 years it's done both moves within a similar time frame. While the outliers exist, a more probably scenario would be a smaller move of either up or down 1 baht.

 

The election next week could disrupt the stock market which in turn might cause the Fed to slow down their rate increases which might stop the upward climb of the dollar. Or not. One of many plausible sounding theories on where the dollar is going.

[chicowoodduck]

I am sure all the TV experts will weigh in....right after they give out some free medical advice and the like.....lol....????????

[fullcave]

6 hours ago, Suradit69 said:

Yes, common sense.  

Of course they replace old bills, DUH. With an election coming up the military junta has been creating debt at hyperdrive. My advise to you would be to do some research before posting kindergarten level points about replacing old bills that even a four year old could figure out. 

[simoh1490]

3 minutes ago, fullcave said:

Of course they replace old bills, DUH. With an election coming up the military junta has been creating debt at hyperdrive. My advise to you would be to do some research before posting kindergarten level points about replacing old bills that even a four year old could figure out. 

What debt at hyperdrive? It was long ago said that the government would run a slight budget deficit this year simply because debt levels were so low, that's being done to fund infrastructure buildout, is that what you're talking about?

Edited October 29, 2018 by simoh1490

[fullcave]

13 minutes ago, simoh1490 said:

What debt at hyperdrive? It was long ago said that the government would run a slight budget deficit this year simply because debt levels were so low, that's being done to fund infrastructure buildout, is that what you're talking about?

Slight? ????

[simoh1490]

1 minute ago, fullcave said:

Slight? ????

"To finance this deficit, the government has borrowed Bt191.35 billion". 

 

That represents 1.3% of GDP (USD 460 bill)....yes, slight.

[fullcave]

17 minutes ago, simoh1490 said:

"To finance this deficit, the government has borrowed Bt191.35 billion". 

 

That represents 1.3% of GDP (USD 460 bill)....yes, slight.

That's only to pay the annual interest due that's not the actual debt! ???? 

[simoh1490]

2 hours ago, fullcave said:

That's only to pay the annual interest due that's not the actual debt! ???? 

Rubbish!

[fullcave]

1 hour ago, simoh1490 said:

Rubbish!

If you have no idea what you are talking about then why post on the subject? 

[simoh1490]

26 minutes ago, fullcave said:

If you have no idea what you are talking about then why post on the subject? 

What I know is that you don't have a clue and have posted no proof of what you claim:

 https://jakartaglobe.id/international/thailand-plans-12-7-billion-budget-deficit-fiscal-2018/

 

Here's a test for you...if the USD 12 bill. is interest only, that makes the loan amount far bigger than the Thai foreign currency reserves which means technically Thailand is bankrupt. If that's not the case, please point us to where BOT issued bonds in the amount of in excess USD 250 bill., the biggest issuance of such bonds in the history of Thailand.

 

 

 

Edited October 30, 2018 by simoh1490

[Banana7]

33.22 baht for USD this morning in Bangkok at Grand Super Rich. That's good enough for me.

[LALes]

I'd like to see 33.50.  That would get me 33.33 on my Bangkok Bank transfer.

I like the 33.33 figure for when I'm out shopping.  Everything is just a multiple of 3

at that point.

[Sheryl]

You've given up on the "income letter from the embassy" ?

Never used it. I have always done 800k method. 11 years now.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[DJ54]

18 hours ago, alex8912 said:

A little surprised coming from you. 

But really it goes up and down all the time. Just use your currency app and look at today about 33.20, then click on last 3 months for high it was 33.38 then click on one year high 33.45. So has it really gotten weaker  against the dollar?? So I would say do it today. No one can predict this and everyone on TVF OR O TVF  ( lol) who has been around awhile should know this. Who can yah REALLY trust? 

 

What is a good currency app.....thanks

[sawadeeken]

8 minutes ago, DJ54 said:

What is a good currency app.....thanks

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=THB

XE.com is very good in my opinion......... It ii up to date in the 'time zone' that it is (different from Thailand a little) and after watching it for the past few months i find it about 8-9 Baht higher than the TT exchange booths on Pattaya streets and about 40 Baht higher than Bangkok Bank online exchange rates..... Now I know those different rates I can look at XE and know (calculate) what they are giving on the streets in Pattaya............

[alex8912]

3 hours ago, DJ54 said:

What is a good currency app.....thanks

XE Converter 

[Banana7]

5 hours ago, DJ54 said:

What is a good currency app.....thanks

I don't have an app but try:

http://bankexchangerates.daytodaydata.net/

also

http://www.siamexchange.co.th/

http://www.grandsuperrich.com/

http://www.superrich1965.com/

 

[marcusarelus]

So after looking at all the exchange apps I've noticed there has been no real change in the past year and the thread is buffalo poop

[simoh1490]

1 minute ago, marcusarelus said:

So after looking at all the exchange apps I've noticed there has been no real change in the past year and the thread is buffalo poop

...is the right answer!

[Skeptic7]

On 10/29/2018 at 4:31 AM, Sheryl said:

Any predictions on further rises and for how long? I am going to have to transfer USD in sometime between now and April to meet visa requirement, would like to time it for favorable exchange rate.

USD has had a nice gain recently. I'm taking advantage of it now...as the chart history show these up moves usually retreat rather quickly. Take advantage of this move and keep doing so every month...like cost averaging. If it continues up...you win and get more baht to the buck. If down...at least you got some at higher rate and less at lower rate. Can't ever time it, but can average it out. 

 

 

[simoh1490]

It's being said that BOT will increase the base rate in November by 0.25% but I can't see that having much effect on THB demand.

[elgenon]

When interest rates rise people take notice (along with a strong economy the rise is based on) and want to be invested in a safe economy. This draws

On 10/29/2018 at 1:50 AM, Franko666 said:

Yes, I foresee 20 pages of financial babble from the Thai Visa experts, I just can't wait - again!

 money out of other economies and puts downward pressure on their money's value relative to the eagle.

 

Anyway, this is my babble and I'm sticking to it. IMHO

[Pinot]

On 10/30/2018 at 11:43 AM, sawadeeken said:

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=THB

XE.com is very good in my opinion......... It ii up to date in the 'time zone' that it is (different from Thailand a little) and after watching it for the past few months i find it about 8-9 Baht higher than the TT exchange booths on Pattaya streets and about 40 Baht higher than Bangkok Bank online exchange rates..... Now I know those different rates I can look at XE and know (calculate) what they are giving on the streets in Pattaya............

I use http://bankexchangerates.daytodaydata.net/default.aspx

 

That's the exchange rate out of ATM machines on an hourly basis. Says 33.0 out of Bangkok Bank vs 33.16 at XE.com

[LALes]

Latest surge appears to be over, topping out at 33.30.  

[Thailand J]

provided all else equal, USD is on an up trend because of the expected Dec rate hike and the 2 or 3 more in 2019.

THB exchange rate vs USD may go south if the white house decided to go after currency manipulators.  Singapore, Malaysia and Thailand may be on the list.

 

Edited November 1, 2018 by Thailand J