Covid-19: Major Thai bank stops exchanging foreign money

[FarFlungFalang]

1 hour ago, Assurancetourix said:

In a few days, the euro rose from 33, ..baht to 36.05 this morning;
and the climb will continue to accelerate.

I have not looked at the rate of the US dollar but I suppose that it follows the same upward slope .

If Khun Prayuth has not yet bought his used submarines, it may cost him a lot of US dollars in a few weeks.

If he buys his subs in Australia he will get a bargain because the baht has strengthened against AUD. now 20.46 on Saturday 20.9. 

[Orton Rd]

They just need to do what our nasty relatives did in KK, they laundered the cash from their large gambling business, literally washed it and hung it up to dry. Why I never did find out, probably washing away sin or similar nonsense. ????

[Fex Bluse]

1 hour ago, scubascuba3 said:

Handling thai baht has got to be worse

Especially considering how much they like to dig in their noses or leave the toilets without washing their hands 

[tonray]

1 hour ago, ThailandRyan said:

I picked up 31.83 baht per USD on February 28th on a transfer to my K-bank account, today the rate is down to 31.49, does not make any sense at all

The TT rate at Kbank on Feb28th was 31.4 ...how did you get 31.83 ?

[Outbackoz]

2 hours ago, darksidedog said:

Do they know something the government doesn't know, or isn't telling us? Seems a little heavy handed given the allegedly very low numbers confirmed in Thailand.

Quite a coincidence that global currencies and bourses are trading at extreme levels of volatility making spreads and liquidity a major issue. Could be a problem if your caught on the wrong side of the door.  

[WinnieTheKhwai]

You know it's serious when Thais stop taking your money. ????

[FritsSikkink]

2 hours ago, Liverpoolfan said:

That's it, slam the final nail in Thailand's tourism coffin why don't you.

There wont be a single tourist left at this rate.

 

Imagine coming here for the first time. Taxi driver shouts you over for a lift.., hang on a minute mate, just need to change some money.. 

Everyone will fall at the first hurdle!!????

 

Never heard of an ATM? Ridiculous decision though.

Edited March 9, 2020 by FritsSikkink

[ICELANDMAN]

20 minutes ago, WinnieTheKhwai said:

You know it's serious when Thais stop taking your money. ????

i agree interesting time now in Thailand.

[Traubert]

Phew, thanks for the warning. I have three different currencies in my wallet including THB. It must be lifting with disease so I've quarantined it and we'll only spend my wife's previously all-clear money. I told her it's all for the greater good.

[PowerKat]

Just a way to send staff home for 14 days unpaid to save some money. 

[jojothai]

why look only at the euro?

if you bothered to look, you would know that the dollar has crapped down by over 4 %.

FYI, this explains the rise in the euro

and the usd rate has not changed much to the baht

Edited March 9, 2020 by jojothai
forgot last sentence added

[jonclark]

If the logic behind this is that foreign money is infected with Co-vid 19, then would the same argument also be applicable to the Thai Baht? Given that by Feb immigration numbers we have been visited by 500'000 foreigners who no doubt handled plenty of Thai Baht (why else would we want them here eh?) Have these foreigners not infected the Thai Baht notes as well? 

 

Bloody foreigners, infecting our  money and people!

[Nong Khai Man]

2 hours ago, fforest1 said:

The solution is simple........Every one needs to give all your dirty nasty disease ridden cash to me.......I will take all the money off your hands to help protect you from the Coronavirus......I don't want to see anyone get sick so I am willing to make a big sacrifice to help you guys.... 

Get In The <deleted>*in' Queue BEHIND Me !!!

[Metropolitian]

Kasikorn? Och never mind they stop exchanging they have one of the worst exchange rate.

Krungsri , of the banks, is one of the best in the list.

 

[Metropolitian]

1 minute ago, Nong Khai Man said:

  2 hours ago, fforest1 said:

The solution is simple........Every one needs to give all your dirty nasty disease ridden cash to me.......I will take all the money off your hands to help protect you from the Coronavirus......I don't want to see anyone get sick so I am willing to make a big sacrifice to help you guys.... 

Get In The <deleted>*in' Queue BEHIND Me !!

You two, stay in your area! In the forest and the other in NK.

 

All the foreign cash in Bangkok goes to me. Period.

[Justgrazing]

3 hours ago, bluesofa said:

ferang

 

3 hours ago, bluesofa said:

in a cashier's draw.

's .. ????

[Guderian]

Perhaps Immigration will decide that they no longer want to deal with all those potentially-infected foreigners and say there's no need for any more visa extensions or 90-day reports or TM30's, just please, please stay away from us!!!

[sahibji]

this is going to be a major setback for tourism. the few who still brave to visit thailand will think twice, with these exchange limitations.

[sahibji]

4 hours ago, darksidedog said:

Do they know something the government doesn't know, or isn't telling us? Seems a little heavy handed given the allegedly very low numbers confirmed in Thailand.

government statement on this will be helpful and is indeed required.

[sahibji]

4 hours ago, Jingthing said:

Low testing rates. Low numbers. No mystery. 

increases the mystery if you ask me.

[KhunBENQ]

K-Bank, worst cash rates of all banks.

Who will miss them?

[SCOTT FITZGERSLD]

1 hour ago, jonclark said:

the logic behind this

the logic behind this is that the bank earns 180 baht everytime 

a foreigner use an ATM, on top on the exchange rate gain.

less cash exchange = more ATM use = more gains for the bank.

 

other banks will happily follow suit.

[john69]

4 hours ago, xtof2 said:

 

 

The Meaning

The water element leads to the wood element, and the wood element leads to the fire element, which is the balanced and harmonious combination of the elements leading to prosperity and growth.

 

Now I understand.

Well, actually, not !

No, you actually don't. Otherwise you would not post such a condescending, silly, and sophomoric comment on an article about a deadly virus.

[KhunBENQ]

Just checked and suprised that Bangkok Bank has very bad rates.

(Euro 35.29, currency market: 35.9688)

Normally they are mid-range.

Another method to keep "dirty notes" away?

Do they offer money laundering

[from the home of CC]

4 hours ago, Liverpoolfan said:

That's it, slam the final nail in Thailand's tourism coffin why don't you.

There wont be a single tourist left at this rate.

 

Imagine coming here for the first time. Taxi driver shouts you over for a lift.., hang on a minute mate, just need to change some money.. 

Everyone will fall at the first hurdle!!????

 

another 'final nail' lol..

[from the home of CC]

just being proactive imo 

 

https://www.cnn.com/2020/03/07/tech/mobile-payments-coronavirus/index.html

[JohnnyBKK]

Thailand acting as if they had 50,000 cases but they reported only 50. Doesn't make any sense.

[delgarcon]

3 hours ago, drbeach said:

KTB, like other banks, offer horrible exchange rates anyway. Anyone with a bit of sense changes money only at independent money changers such as Super Rich.

 

The most laughably ridiculous thing is the KTB money changer located at Suvarnabhumi on the lower ground floor as you're heading to the ARL. It's opposite Super Rich. No one would ever exchange money there because their rates were much lower than Super Rich. Good riddance if they go out of business - unless they adapt to the competition they're bound to die.

Not quite true, the Kasikorn has had a mobile Exchange Bureau parked on the edge of Thong Sala here in Koh Phangan, offering the best rates on the island. I was going there this afternoon until I read this.

[JHolmesJr]

5 hours ago, webfact said:

One of Thailand's largest banks has announced they have shut all their in branch and foreign exchange booths immediately. 

 

How sanctimonious...everyone is diseased except us....LOL.

[NanLaew]

2 hours ago, PowerKat said:

Just a way to send staff home for 14 days unpaid to save some money. 

Unpaid?

 

Citation please.