Visa Holders Requiring Monthly Transfers - USD Now Below 30 Baht

[Banana7]

For visa holders who are using the monthly transfer method to qualify financially, please be aware that USD today is at 29.98 Baht cash rate in Bangkok. 2021 cash rate forecast is for USD to drop every quarter and reach 29.00 baht before December 2021.

[Elkski]

Full 16% drop in my net worth  since my first visit in 2016 @35.6 exchanged. Before I knew about shopping for best exchange booth.   I guess great of one imported all his money to baht or gets paid in baht. 

[tonray]

23 hours ago, Banana7 said:

For visa holders who are using the monthly transfer method to qualify financially, please be aware that USD today is at 29.98 Baht cash rate in Bangkok. 2021 cash rate forecast is for USD to drop every quarter and reach 29.00 baht before December 2021.

Don't worry...the Thai Central Bank is intervening...ha ha ha ha ha

[Suradit69]

23 hours ago, Banana7 said:

please be aware 

Do you really think you’re providing some public service by announcing that the exchange rate dropped a few satang from a day ago? I guess that means those of us using the money in the bank method are a little richer. Whoopee.

 

incidentally, people using the monthly income method are extension of stay holders. Most of them haven’t had a visa in years.

[Bigz]

1 hour ago, Elkski said:

Full 16% drop in my net worth  since my first visit in 2016 @35.6 exchanged. Before I knew about shopping for best exchange booth.   I guess great of one imported all his money to baht or gets paid in baht. 

Consider yourself lucky. UK £ dropped from 75 to 40 bahts in the last 15 years. 

[Pravda]

It will go to 24 in less than 3 years. This is where it belongs on par with Canadian dollar. 

[bkk6060]

1 hour ago, Elkski said:

Full 16% drop in my net worth  since my first visit in 2016 @35.6 exchanged. 

So all of your assets in your life are and have been in Thai baht?

[StevieAus]

28 minutes ago, Bigz said:

Consider yourself lucky. UK £ dropped from 75 to 40 bahts in the last 15 years. 

I was getting 29/30 baht plus for the $Aus ten years ago now we think it’s good when at 22 baht

[userabcd]

1 hour ago, Bigz said:

Consider yourself lucky. UK £ dropped from 75 to 40 bahts in the last 15 years. 

And before the 75 baht level it was in the region of 38 baht. So it could not be reasonably assumed that baht exchange rate based on an exceptional event in 1997 would continue. It has gradually returned to pre 1997 exchange rate levels.

 

What could be said is when the baht depreciated quickly, the authorities quickly moved to dramatically increase the amount of money one had to have in a bank account or transfer each month to facilitate ones long term stay in Thailand. Now that the baht has returned to pre 1998 levels the amount of money one has to provide to stay in Thailand has never been reduced back to pre 1998 requirements taking into consideration some inflation.

 

Edited December 10, 2020 by userabcd

[Airalee]

3 posts in 2 days about the strengthening baht.  Well...today it is back above 30 at superrich.  All is well.

[JTXR]

Well, thanks for the heads up, I guess, but I suspect most folks using the monthly transfer method do what I do.  Every month they check the exchange rate on the Bank of Thailand site and then make sure their monthly transfer will be enough that the Thai baht amount is at least 65,000.  It's a bummer that I need to transfer a bit more now, but that's life.

 

And BTW, anyone who "predicts" what the exchange rate will be next month or next quarter or next year is just full of it.  Ask a REAL expert what will happen with the exchange rate over the next year and he or she will tell you "it will fluctuate."  Period.