USD and EUR to Reach New Lows Against THB in 3 Months

[Banana7]

Looks like USD is going breach 30 THB shortly, next support level is at 28 THB. EUR GBP AUD CAD CNY RUB are all on track to hit new lows against THB within 6 months too.

 

Bank of Thailand needs to get rid of out bound currency restrictions NOW!

 

[nobodysfriend]

Que sera , sera , the future's not ours to see , whatever will be , will be ...

Detailed predictions of what will happen in the future are a slippery slope , if not funded by real events ( like climate change ...)

[Hayduke]

 

Look on the bright side. If you happen to be a hardworking, patriotic, corruption-free general...and you just happen to have billions of baht that you want to convert into Pounds, Dollars, or Euros…then this is very good news.

 

[abrahamzvi]

How do you know this? Do you have any facts, or know of any, which lead you to such assumptions? I am not saying it won't happen, but I really wouldn't dare make such gloomy forecasts.

[Fore Man]

The only rosy side to this continual strengthening of the baht is that if you want to cut the cord with Thailand, now is a fine time to do it...any holdings denominated in THB will convert into more USD, GBP etc. I just executed a large outbound wire and it was posted to my US bank online account 7 hours later. There’s a lot worse places to live but the idyllic existence we lived here for 15 years simply cannot be sustained any longer. Vote with your feet or stay and deal with it, and good luck to all no matter how you decide. 

[dotpoom]

If true....good news for those of us moving on the greener pastures. I lodged my 800,000 19 years ago...it is and will be, worth a lot more...a "nice little earner"...Thanks for the good news.

[sirineou]

4 hours ago, Banana7 said:

Looks like USD is going breach 30 THB shortly, next support level is at 28 THB. EUR GBP AUD CAD CNY RUB are all on track to hit new lows against THB within 6 months too.

 Some links to the information that led you to that opinion would be nice. 

[trd]

Looks like USD is going breach 30 THB shortly, next support level is at 28 THB. EUR GBP AUD CAD CNY RUB are all on track to hit new lows against THB within 6 months too.
 
Bank of Thailand needs to get rid of out bound currency restrictions NOW!
 

The thing about technical support and resistance levels is that price can go through them or bounce off them and make a reversal. If I knew with certainty which it was going to be, I'd be a multi-billionaire whether I go long or short. You can't predict the market, you can only react to it.

[BestB]

1 hour ago, abrahamzvi said:

How do you know this? Do you have any facts, or know of any, which lead you to such assumptions? I am not saying it won't happen, but I really wouldn't dare make such gloomy forecasts.

I was transfering some money on Thursday 3 October, AUD , but was looking at exchange rate.

 

AUD $19.84, USD$30.04

 

This was rate offered by Kasikorn for internet transfers. USD dipping under 30 is more than feasible only 0.05 satang and its under 30

[rwill]

12 minutes ago, BestB said:

I was transfering some money on Thursday 3 October, AUD , but was looking at exchange rate.

 

AUD $19.84, USD$30.04

 

This was rate offered by Kasikorn for internet transfers. USD dipping under 30 is more than feasible only 0.05 satang and its under 30

The banks don't give you the real rate.  The exchange rate they offer for ATM withdrawals has been under 30 for quite awhile, if you are silly enough to accept it.

[sirineou]

I keep an eye conditions and make decisions accordingly but I only worry about things I can control.  And I can't control currency fluctuations, or my relationship to Thailand, since my wife is Thai and Thailand will always be in my future as long as I am married to her.

  I have being coming to Thailand for over 13 years now and as long as I can remember , the exchange rate has being bouncing between 33 and 30 bht to the USD . Sometimes dipping to 29, other times going 34 but for the most part 33-30. so nothing much has really changed. 

[BestB]

2 minutes ago, rwill said:

The banks don't give you the real rate.  The exchange rate they offer for ATM withdrawals has been under 30 for quite awhile, if you are silly enough to accept it.

Not too sure what is real rate and who you think determines it, but If you have to use your ATM card you really have no choice , nothing to do with silly. just as when you sending money via internet transfer, rate is what it is.

 

Cash may get you slightly better rate, but it is only slightly, most certainly not a huge difference

 

 

[NightSky]

33 minutes ago, dotpoom said:

If true....good news for those of us moving on the greener pastures. I lodged my 800,000 19 years ago...it is and will be, worth a lot more...a "nice little earner"...Thanks for the good news.

It’s only good news if you plan to exchange the 800k to another currency which would mean you then no longer meet the thai visa requirement.

 

if you leave it in a Thai baht account there is no benefit to the high cost of baht.

[Speedhump]

39 minutes ago, rwill said:

The banks don't give you the real rate.  The exchange rate they offer for ATM withdrawals has been under 30 for quite awhile, if you are silly enough to accept it.

Correct. People who understand  nothing about cross rates should not be posting their half-baked opinions. 

[CygnusX1]

1 hour ago, rwill said:

The banks don't give you the real rate. 

If you shop around a bit, some do.

[Jaxxper]

I used to work for a major international Engineering and Construction company that had oodles of talent in the treasury department. When I used to ask them where say the Indian Rupiah would be against the US Dollar in a years time , their answer was “ If I knew that then I wouldn’t be employed by anyone, I’d be making a mint on currency exchange”.....I rest my case M’Lud. 

[thurien]

I don't know where Banana7 got his info from, but he is not the only one predicting another "go south" episode:

 

https://walletinvestor.com/forex-forecast/usd-thb-prediction

 

 

Edited October 5, 2019 by thurien

[Fore Man]

2 hours ago, rwill said:

The banks don't give you the real rate.  The exchange rate they offer for ATM withdrawals has been under 30 for quite awhile, if you are silly enough to accept it.

Truer words were never spoken.  Any expat using an ATM in Thailand should not select the bank’s proffered exchange rate for your home currency.  You’ll be bilked out of a small percentage of money, but doing so over a long time will add up.

[friend of siam]

2 hours ago, Fore Man said:

The only rosy side to this continual strengthening of the baht is that if you want to cut the cord with Thailand, now is a fine time to do it...any holdings denominated in THB will convert into more USD, GBP etc. I just executed a large outbound wire and it was posted to my US bank online account 7 hours later. There’s a lot worse places to live but the idyllic existence we lived here for hi15 years simply cannot be sustained any longer. Vote with your feet or stay and deal with it, and good luck to all no matter how you decide. 

everyday need a new strategy..build a nice luxury house ten years ago...?

these are good news...as prices raised up and now voila the bath is through the roof....sell to mr. china..in bhat... than quickly convert the bhat to usd or euros..invest the dollars in china....move to Cambodia for the next years..near a beach...rent cheap spend half but live double as comfortable...later when the bhat bubble burst ( a matter of time ) come back again change it all back...than you cashed in on a win win win situation .

first win ..price hike in proberty prices

second win sell high in bhat

third win get almost  double the euros for your bhat much more than anytime before

fourth win spend a few years in a really nice and cheap place widen the horizont

last win..if u decide to go back when the bhat is grounded...receive double again...the two years in cambodia solely financed through the interest if u invest wisely..

asia full of potential...

 

[Fore Man]

4 minutes ago, friend of siam said:

everyday need a new strategy..build a nice luxury house ten years ago...?

these are good news...as prices raised up and now voila the bath is through the roof....sell to mr. china..in bhat... than quickly convert the bhat to usd or euros..invest the dollars in china....move to Cambodia for the next years..near a beach...rent cheap spend half but live double as comfortable...later when the bhat bubble burst ( a matter of time ) come back again change it all back...than you cashed in on a win win win situation .

first win ..price hike in proberty prices

second win sell high in bhat

third win get almost  double the euros for your bhat much more than anytime before

fourth win spend a few years in a really nice and cheap place widen the horizont

last win..if u decide to go back when the bhat is grounded...receive double again...the two years in cambodia solely financed through the interest if u invest wisely..

asia full of potential...

 

Maybe!  But then, timing is everything.  Good luck with that idea!

[Wake Up]

I came here as a tourist since 2010 to 2016 and it was always 29 to 30 or 31. Then in 2016 it went to 36 to the USA dollar. 30 and 29 are normal rates IMO. And yes I also think Thai banks like Bangkok bank are safe comparing to other national banks. And no i am not a retired pensions only person praying for a higher exchange rate to rescue me from poor retirement planning. 

[JAS21]

 Wow 0P where did you get your information from.

 

Even an infamous past P.M. only knew the night before .....

Edited October 5, 2019 by JAS21

[emptypockets]

46 minutes ago, Fore Man said:

Truer words were never spoken.  Any expat using an ATM in Thailand should not select the bank’s proffered exchange rate for your home currency.  You’ll be bilked out of a small percentage of money, but doing so over a long time will add up.

I've used  ATM's hundreds of times in Thailand and am yet to see any options apart from withdraw xxxxxx baht. Never seen anything about exchange rates. Where do I look on an ATM to see this?

[BestB]

2 minutes ago, emptypockets said:

I've used  ATM's hundreds of times in Thailand and am yet to see any options apart from withdraw xxxxxx baht. Never seen anything about exchange rates. Where do I look on an ATM to see this?

And you never will see, its the internet experts who most likely never set foot anywhere near ATM or possibly Thailand who claim otherwise. Just as experts who claim to know where to get "real rates"

 

After all bank offers 30.04 but the experts are smart, they will waste half a day to find exchange booth that gives 30.30, so in the end on $1000 they can get extra 30 baht????

Edited October 5, 2019 by BestB

[emptypockets]

1 minute ago, BestB said:

And you never will see, its the internet experts who most likely never set foot anywhere near ATM or possibly Thailand who claim otherwise. Just as experts who claim to know where to get "real rates"

 

After all bank offers 30.04 but the experts are smart, they will waste half a day to find exchange booth that gives 30.30, so in the end on $1000 they can get extra 30 baht????

Exactly what I suspected.

[Salerno]

3 hours ago, BestB said:

Not too sure what is real rate and who you think determines it, but If you have to use your ATM card you really have no choice , nothing to do with silly. just as when you sending money via internet transfer, rate is what it is.

You get the Visa or Mastercard rate, not the bank rate,  unless the bank offers an exchange rate ... which as the BM said you would be silly to accept.

 

13 minutes ago, emptypockets said:

I've used  ATM's hundreds of times in Thailand and am yet to see any options apart from withdraw xxxxxx baht. Never seen anything about exchange rates. Where do I look on an ATM to see this?

Depends on the bank, see answer above.

 

10 minutes ago, BestB said:

And you never will see, its the internet experts who most likely never set foot anywhere near ATM or possibly Thailand who claim otherwise. Just as experts who claim to know where to get "real rates"

Not an internet expert, but I only use ATMs ... you're talking <deleted>.

[CM Dad]

I got 30.22 at  a Kasikorn ATM on the 4th using my US debit card.  Stay away from government owned banks like Krungthai and GSB and the rate is better.  SCB also always has a lower rate than Kasikorn, Bangkok Bank, or Krungsi.

[Tayaout]

20 minutes ago, emptypockets said:

I've used  ATM's hundreds of times in Thailand and am yet to see any options apart from withdraw xxxxxx baht. Never seen anything about exchange rates. Where do I look on an ATM to see this?

I don't remember seing this in Thailand but it is quite commom. The option only appear when you use a foreign card and mostly at independant ATM. I've seen them in Malaysia and Europe. The ATM offer to charge you in your home currency or let your bank change to the local currency. They are usually a rip-off and its better to let your bank do the conversion. 

[BestB]

4 minutes ago, Salerno said:

You get the Visa or Mastercard rate, not the bank rate,  unless the bank offers an exchange rate ... which as the BM said you would be silly to accept.

 

Depends on the bank, see answer above.

 

Not an internet expert, but I only use ATMs ... you're talking <deleted>.

It does not depend on the bank and if you actually had experience or a clue you would know, ALL banks on ATM withdrawals give master card rate, there is no choice or options. The only difference in rate is if bank itself adds little more or less, that little more or less is a satang  or two and its based on each banks rate as each bank has a different rate, which again is only different by 1/2 or 1/3 of a satang

 

Internet transfers gives you bank rate if you sending in your home currency, if you sending in baht, then your home bank does the exchange at much lower rate.

 

If you take cash into the branch, you will get more, that more is again a few satang difference.

[CM Dad]

The rate was stated on the ATM screen and I had the choice to accept or decline before completing the trans action.