Question for the Brits..... Is it a good time to convert some thb to GBP

[davidst01]

We are heading to the Uk towards the end of the year. 

 

Google tells me 1000 thb is = 25.94 gbp. Is this rate good or bad. Should I wait a few months to see what happens with brexit? 

 

Where do you think the rate is heading in the next 3 months?

thanks

[fishtank]

The rate is terrible at the moment and will probably get even worse.

Cancelling Brexit might improve things a bit.

[Kwasaki]

It is a good time to change baht to £ if you are going even if it goes up or down it won't be by much,  so small amounts for a holiday won't make it a big deal anyway.  

[nickmondo]

if you are intending to move back, then yes, now is a very good time to send money back.

if for eg you transferred pounds here at 44 to the baht, then you will do very well to send back now.

but bear in mind that if you want to send money to thailand again in the future, if the baht continues to get even stronger, then keep your money here.

 

[davidst01]

3 minutes ago, nickmondo said:

if you are intending to move back, then yes, now is a very good time to send money back.

if for eg you transferred pounds here at 44 to the baht, then you will do very well to send back now.

but bear in mind that if you want to send money to thailand again in the future, if the baht continues to get even stronger, then keep your money here.

 

sorry, Im confused now. a guy above says its not a good time to buy gbp cash. I know your talking about wiring money back to the uk but I thought the rates were similar. 

 

we have a cash business here and thus just earn thai and go on holidays

[AntipodeanThai]

Basically all depends on Brexit. If a no deal expect the GBP to suffer, probably some short term, selling 

[bert bloggs]

Just flip a coin ,waste of time listening to the "hexperts" who really knows ?

[Thingamabob]

No deal= a marginally worse rate in the short term. A deal=a marginally better rate immediately. Longer term, deal or no deal, the rate will settle at around 50baht plus, but to reach that level will take a year or so.

[Brunolem]

Going to the UK later this year, I am not sure if it is a good time to convert THB to GBP, but it is certainly a good time to convert to islam... 

[alfieconn]

Don't think about what the rates might be in the future, just think are you happy with what the rate is at the moment, if so buy pounds now, if not take your chance on what it might be in the future (50% chance of going your way), so many people give advice but don't really have a clue, if they did they would be making millions on the fx market and wouldn't need to be coming on Thai visa everyday.

Edited July 20, 2019 by alfieconn

[Jip99]

21 hours ago, fishtank said:

The rate is terrible at the moment and will probably get even worse.

Cancelling Brexit might improve things a bit.

 

 

Not if you are changing Baht to Sterling !!

[Jonnapat]

33 minutes ago, Thingamabob said:

No deal= a marginally worse rate in the short term. A deal=a marginally better rate immediately. Longer term, deal or no deal, the rate will settle at around 50baht plus, but to reach that level will take a year or so.

Only wish I was that hopeful, those 50 baht dsys have gone forever in my opinion.

[picctrainop]

What absolute Rubbish Thingamabob. A no deal Brexit will be a disaster for the UK and where did you get the figure of 50 baht to the £ from. It’s been in the low 40’s for about a decade now and that’s being in the EU. I would wait awhile before changing to £’s because the UK if no deal happens it will be floating in the Mire.

[Andrew Dwyer]

What absolute Rubbish Thingamabob. A no deal Brexit will be a disaster for the UK and where did you get the figure of 50 baht to the £ from. It’s been in the low 40’s for about a decade now and that’s being in the EU. I would wait awhile before changing to £’s because the UK if no deal happens it will be floating in the Mire.

Low 40’s for a decade ?? I don’t think so !!
It was in the mid 50’s shortly before Brexit happened ( or didn’t happen ? ).

But I do agree a no deal will be bad for the uk .

[alfieconn]

2 minutes ago, picctrainop said:

What absolute Rubbish Thingamabob. A no deal Brexit will be a disaster for the UK and where did you get the figure of 50 baht to the £ from. It’s been in the low 40’s for about a decade now and that’s being in the EU. I would wait awhile before changing to £’s because the UK if no deal happens it will be floating in the Mire.

But supposing no deal doesn't happen ? your advice would then be incorrect !

[PBob]

Another non-expert opinion to add to the others.

 

Brexit: No deal or extension to leave date, further falls to the pound.

Brexit with a deal (depends upon the deal), pound hovers around current rate.

Revoke article 50, should give a slight increase.

 

Over at least the next five years things will not improve much. We still need to negotate the final relationships with the EU, USA and the rest of the world. We will be playing with a weak hand have proved not to be good at the game.

The UK government will tend to favour a weak pound to prop up exports. They will hope that Trump does not notice.

 

Longer term 5 years+ the pound should pull back the losses over the recent years, say to around 45 baht.

 

The other side of the equation is the Thai Baht, events here could result in 50 baht to the pound, but I would probably not be here to enjoy it.

[alfieconn]

12 minutes ago, Jonnapat said:

Only wish I was that hopeful, those 50 baht dsys have gone forever in my opinion.

That's what people were thinking when it was up at 70 !

[ujayujay]

Dont wait!

[Paul52]

25 minutes ago, picctrainop said:

What absolute Rubbish Thingamabob. A no deal Brexit will be a disaster for the UK and where did you get the figure of 50 baht to the £ from. It’s been in the low 40’s for about a decade now and that’s being in the EU. I would wait awhile before changing to £’s because the UK if no deal happens it will be floating in the Mire.

Correct about Brexit (no deal) being a disaster, but you’re wrong about low 40 for a decade (10 years).  In 2016 (3 years ago), the day before brexit vote, rate was GBP 1 = THB 52.

[Tom59]

It really depends on when you are going. At the moment the pound is falling and the Baht is strong against it. Some economist have predicted the pound -baht rate as low as 17 baht to the pound in a year or two. I'm no expert but that tells me that buying pounds sterling with Thai baht will get cheaper. The problem is how do you do it unless you are buying cash here and intend to carry it on you personally when you travel. Transferring baht to the UK is difficult. Dee Money in Bangkok is the only outfit that I have found where you can do it, although it's possible that services is currently suspended.

[stewartthailand]

SuperRich at the airport are selling Sterling for 38.85 which seems a good rate of you originally exchanged at over 40

[davidst01]

16 minutes ago, stewartthailand said:

SuperRich at the airport are selling Sterling for 38.85 which seems a good rate of you originally exchanged at over 40

Your post has helped me the most. I checked their website and you are correct:

 

https://www.superrichthailand.com/?gclid=EAIaIQobChMIloGm39PC4wIVTR0rCh03NwPEEAAYASAAEgJF7PD_BwE#!/en

 

If I select the 'buying' button and plug in 1000 gbp the rate is 38.55

 

Thus to buy 1000 gbp it will cost me 38,550 baht

 

So my question is.... is this a good rate or not??????????????

[crazykopite]

If your changing baht into £s it’s very good the only problem you might have is finding somewhere to get U.K. £s as the banks don’t issue foreign currency ,the only way I can see you doing it is by transferring money into a U.K. bank . I think by law you are allowed to take out 50,000 baht out of the country anymore you have to declare at immigration if I am wrong I apologise. The last time I sent money overseas was Thai baht to US$ 5,000 I had to fill in about 5 pages I had to put down a reason so I wrote on the form family reason which was accepted but answer to your question is yes it’s a good time to convert baht to the £ a year or two ago the 1,000 baht would of got you £20.

[crazykopite]

4 minutes ago, davidst01 said:

Your post has helped me the most. I checked their website and you are correct:

 

https://www.superrichthailand.com/?gclid=EAIaIQobChMIloGm39PC4wIVTR0rCh03NwPEEAAYASAAEgJF7PD_BwE#!/en

 

If I select the 'buying' button and plug in 1000 gbp the rate is 38.55

 

Thus to buy 1000 gbp it will cost me 38,550 baht

 

So my question is.... is this a good rate or not??????????????

It could be even better in a week or two that’s the chance you take the Thai baht fluctuates several times a day . You can take out as much foreign currency as you want when leaving Thailand , but only 50,000 baht if in Thai notes 

[crazykopite]

It would be interesting to know how much Thai baht you could exchange at super rich is there a fixed limit.

[mike787]

2 hours ago, bert bloggs said:

Just flip a coin ,waste of time listening to the "hexperts" who really knows ?

Agreed, my crystal Ball in the shop too.

[alfieconn]

11 minutes ago, davidst01 said:

Your post has helped me the most. I checked their website and you are correct:

 

https://www.superrichthailand.com/?gclid=EAIaIQobChMIloGm39PC4wIVTR0rCh03NwPEEAAYASAAEgJF7PD_BwE#!/en

 

If I select the 'buying' button and plug in 1000 gbp the rate is 38.55

 

Thus to buy 1000 gbp it will cost me 38,550 baht

 

So my question is.... is this a good rate or not??????????????

Christ david no one knows, if we did know we would be all be rich in a few months time.

[Suradit69]

2 hours ago, davidst01 said:

sorry, Im confused now. a guy above says its not a good time to buy gbp cash. I know your talking about wiring money back to the uk but I thought the rates were similar. 

 

we have a cash business here and thus just earn thai and go on holidays

You were really expecting a unanimous, accurately predictive answer from any group of people, let alone the brotherhood of TV " experts?"

[Mavideol]

2 hours ago, bert bloggs said:

Just flip a coin ,waste of time listening to the "experts" who really knows ?

better visit the fortune teller 555

[Tuvoc]

2 hours ago, picctrainop said:

What absolute Rubbish Thingamabob. A no deal Brexit will be a disaster for the UK 

There will be some short term pain but if it is properly managed I don't see any disaster. In the medium to ong term I think it is by far the best solution.