Pollie Posted February 25, 2007 Share Posted February 25, 2007 I just sold some stock in Europe and have a banker's draft in US dollars that is enough to pay my rent and expenses in Thailand for about nine months. My question is, how to do so. Should I deposit the entire draft into my Thai baht account? (if it takes 90 days to clear, do they calculate the exchange rate today, or 90 days from now?) Or should I put it into my dollar account in the US, and bring in a month's baht at a time? I guess the question really is, which direction is the baht headed over the next year? Any good advice out there? Link to comment Share on other sites More sharing options...
Rinrada Posted February 25, 2007 Share Posted February 25, 2007 put it intoyour dollar account in the US.asap.. Link to comment Share on other sites More sharing options...
jakesideas Posted February 25, 2007 Share Posted February 25, 2007 Who knows where the baht is headed. One option is earn some interest- maybe put half in a mutual fund or CD for 4 months and cash the other half out. I think unless there is a meltdown the trends show the baht getting stronger- but if it is just living expenses it is probably not enough money to worry about it too much... focus on convenience of getting the cash when and where you need it and not paying too much in transfer/ ATM fees. Link to comment Share on other sites More sharing options...
Maestro Posted February 25, 2007 Share Posted February 25, 2007 Also I see the US dollar getting weaker against the Baht over the next nine months. -------------- Maestro Link to comment Share on other sites More sharing options...
Osaka Posted February 26, 2007 Share Posted February 26, 2007 Noone knows which way the baht and the USD are going, and forecasting exchange rates has been notoriously unreliable business. My own guess is that the US economy is not doing well, and the USD might continue going down relative to other currencies (mostly European) for a while. However, the baht has already appreciated a lot, and the recent (last December) attempts to introduce capital controls show that the government is determined not to allow further baht appreciation as this might hurt the economy. (I am not commenting on the way the capital controls were introduced, causing the stock market to fall by almost 15% within a day - this resulting in changes softening the new regulations just a day after announcing them - ratehr embararsing in the eyes of foreign investors, I'd say). So, I am not betting my money on this, but my guess is the baht wouldn't appreciate further... Link to comment Share on other sites More sharing options...
Penkoprod Posted February 26, 2007 Share Posted February 26, 2007 I think its more a case of looking whats happening to the dollar itself, and what might happen to it Should Dubya invade Iran then we may well see 25 dollars to the baht, 2.5 to the pound, 1.5 to the euro etc In other words..................America will be f*cked for longer, and more deeply that it is already Its not as simple as just looking at one-to-one currency performance Penkoprod Link to comment Share on other sites More sharing options...
britmaveric Posted February 26, 2007 Share Posted February 26, 2007 Look for $ to rise against the bht. Link to comment Share on other sites More sharing options...
churchill Posted February 26, 2007 Share Posted February 26, 2007 Buy Gold - The dollar is getting weaker so the baht should get stronger - If I were you either buy Baht now or buy gold . Link to comment Share on other sites More sharing options...
seagull Posted February 26, 2007 Share Posted February 26, 2007 I just sold some stock in Europe and have a banker's draft in US dollars that is enough to pay my rent and expenses in Thailand for about nine months. My question is, how to do so. Should I deposit the entire draft into my Thai baht account? (if it takes 90 days to clear, do they calculate the exchange rate today, or 90 days from now?) Or should I put it into my dollar account in the US, and bring in a month's baht at a time? I guess the question really is, which direction is the baht headed over the next year? Any good advice out there? Buy Gold - The dollar is getting weaker so the baht should get stronger - If I were you either buy Baht now or buy gold . to churchill, please read th OP carefully. In no way Pollie mentioned anything about investing the money that she qained from selling her stocks. Link to comment Share on other sites More sharing options...
bingobongo Posted February 26, 2007 Share Posted February 26, 2007 (edited) Buy Gold - The dollar is getting weaker so the baht should get stronger - If I were you either buy Baht now or buy gold . I agree about buying gold, also buy silver (talking about bullion, not jewlery). But forget about baht, gold is internationally accepted as unit of exchange, but not so for mickey mouse currency such as baht. Once the bombs start dropping on Iran, oil, silver and gold will climb. Besides BOT is considering lowering rates again, flooding market with more liquidity and trying to stem appreciation of baht Central bank 'likely to cut rates' http://www.bangkokpost.net/breaking_news/b...s.php?id=117070 Edited February 26, 2007 by bingobongo Link to comment Share on other sites More sharing options...
churchill Posted February 26, 2007 Share Posted February 26, 2007 I just sold some stock in Europe and have a banker's draft in US dollars that is enough to pay my rent and expenses in Thailand for about nine months. My question is, how to do so. Should I deposit the entire draft into my Thai baht account? (if it takes 90 days to clear, do they calculate the exchange rate today, or 90 days from now?) Or should I put it into my dollar account in the US, and bring in a month's baht at a time? I guess the question really is, which direction is the baht headed over the next year? Any good advice out there? Buy Gold - The dollar is getting weaker so the baht should get stronger - If I were you either buy Baht now or buy gold . to churchill, please read th OP carefully. In no way Pollie mentioned anything about investing the money that she qained from selling her stocks. Her question was how to pay her expenses and rent for the next nine months with a lump sum in dollars ( I don't understand how a bank draft can take 90 days to clear ? ) . If one believes as I do that the dollar is going down , therefore the baht up , one should buy baht now ! As a hedge one could buy some baht now and some gold . this is my opinion and what I may do in her situation and is intended as good advice ! Link to comment Share on other sites More sharing options...
Livinginexile Posted February 26, 2007 Share Posted February 26, 2007 Buy Gold - The dollar is getting weaker so the baht should get stronger - If I were you either buy Baht now or buy gold . I agree about buying gold, also buy silver (talking about bullion, not jewlery). But forget about baht, gold is internationally accepted as unit of exchange, but not so for mickey mouse currency such as baht. Once the bombs start dropping on Iran, oil, silver and gold will climb. Besides BOT is considering lowering rates again, flooding market with more liquidity and trying to stem appreciation of baht Central bank 'likely to cut rates' http://www.bangkokpost.net/breaking_news/b...s.php?id=117070 I agree I'm putting my money where my mouth is and buying gold. Link to comment Share on other sites More sharing options...
bingobongo Posted February 26, 2007 Share Posted February 26, 2007 BREAKING NEWS - Last Updated: Monday February 26, 2007 10:43 Asian economies under threat: Escap (Agencies) Asian economies face new threats that could destabilise the region, despite the current boom that resulted from success in overcoming the 1997 financial crisis, a top UN official said today. Some of the risks now facing the region are similar to those that preceded the 1997 crisis, which began in Thailand and spread around Southeast and East Asia, said Kim Hak-Su, the head of the UN Economic and Social Commission for Asia and the Pacific. A global liquidity bonanza, inflated asset values, and tremendous speculative pressures on regional currencies could again destabilise regional economies, Kim said. "Globalisation, along with its many benefits, exposes economies to quick and harsh risks from the constantly shifting international environment," he said in a speech opening a conference on the 10 years since the 1997 meltdown. Kim urged governments around the region to ensure flexibility in exchange rates, adding that central banks should also be clear about their exchange rate policies. "Greater flexibility would help take away the 'one-way bet' that encourages even more capital inflows than would otherwise take place, since markets would quickly realise that the currency could move in either direction," he said. Kim said countries around the region could weather future shocks by ensuring solid macroeconomic fundamentals, developing healthy financial sectors, having robust microeconomic foundations, and improving regional cooperation. Thailand was the epicentre of the 1997 meltdown when excessive borrowings in US dollars coupled with high interest rates forced the Thai government to float the currency, which then promptly collapsed along with the economy. The baht nosedived to 56 to the dollar from 25, took the Thai economy with it and then sent a tidal wave of debt and default sweeping across the region which cost billions of dollars to put right. Over late 1997, the contagion spread unchecked, hitting Southeast Asia first, with Malaysia and Indonesia the worst affected as their currencies and then economies crumpled before the onslaught. Then it was the turn of South Korea-an apparently strong economy whose Achilles heel of massive debt forced the government to go to the International Monetary Fund for a huge and humiliating bailout. All the while, the shockwaves reverberated around the region, sparking a concerted attack on the Hong Kong government's cherished dollar-peg currency system in mid-1998. http://www.bangkokpost.com/breaking_news/b...s.php?id=117076 Link to comment Share on other sites More sharing options...
bingobongo Posted February 26, 2007 Share Posted February 26, 2007 Springtime for Stalin Thailand last September rebelled against the free-market and rural-oriented policies of elected prime minister Thaksin Shinawatra and staged a military coup. Since then the military government has shown itself thoroughly unversed in the nuances of the free market, imposing exchange controls for a day before reversing itself and now threatening to seize the telephone company Shin Corporation from Singapore's Temasek Holdings, simply because it had previously been owned by Thaksin. Putin, if not Stalin, would approve of the new Thai government's approach to foreign investment. http://www.prudentbear.com/articles/show/359 Link to comment Share on other sites More sharing options...
lannarebirth Posted February 27, 2007 Share Posted February 27, 2007 (edited) Don't know about the Baht, as this is a dollar denominated fund, but clearly foreign taste for Thai equities is cooling. The volume tells the story: http://stockcharts.com/h-sc/ui?s=TTF&p...id=p30394042456 Edited February 27, 2007 by lannarebirth Link to comment Share on other sites More sharing options...
old wanderer Posted February 27, 2007 Share Posted February 27, 2007 Yesterday would have been a nice day to exchage your money on. Today when the market opens, and seeing the dollar drop vs the yen of 2%, I think the baht will follow.....but then some other local countries had major drops in their moneys as well..... Guess that is what makes this such an intresting poker game. I gave up this morning and bought a stock that for the past 3 weeks has been going up every day....I had been patciently waiting for it to dip, and boy did it. it promptly turns downward, along with the 500 point drop in the market (for a while) and watch my money just disapear. Next time I will ask the Mahdoo for advise. Link to comment Share on other sites More sharing options...
rainman Posted March 1, 2007 Share Posted March 1, 2007 I once said if the USD>Baht drops under 35.00 i'm moving elsewhere. I think it might be time to get the bags .. Link to comment Share on other sites More sharing options...
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