Finally some good news! Brits getting 43 Baht to the Pound, USD doing OK too

[Farang99]

On 3/20/2021 at 11:22 AM, crazykopite said:

It’s back down to 42 ,426 was only 43 for 6 hours I’m convinced that they manipulate the Thai baht and very soon it will come back to haunt them this rate is currently what you get with Wise which up until a week ago was known as TransferWise they have changed the name as it is rumoured that they are about to float on the stock market . I use them all the time I have yet to find another company that offers better rates and less charges . Last week I sent £2,000 to my SCB account it was there in less than 8 minutes and the cost was £10.98 transaction fee.

Have you noticed that every month end it seems to hit a low point - just when pensions are about to be deposited in the Thai bank

[anchadian]

On 3/29/2021 at 7:45 AM, Farang99 said:

Have you noticed that every month end it seems to hit a low point - just when pensions are about to be deposited in the Thai bank

Pensions are not deposited to Thai banks at end of month, they're credited to Thai bank accounts on various dates (depending on the initial letter of your surname).

 

In my case, my payment arrives at Wise every 4 weeks on a Friday and reaches my Thai bank account on the Monday.

[treetops]

9 minutes ago, anchadian said:

Pensions are not deposited to Thai banks at end of month, they're credited to Thai bank accounts on various dates (depending on the initial letter of your surname).

 

In my case, my payment arrives at Wise every 4 weeks on a Friday and reaches my Thai bank account on the Monday.

 

What sort of pension are you referring to?  Not all are the same.

[Brierley]

On 3/29/2021 at 7:45 AM, Farang99 said:

Have you noticed that every month end it seems to hit a low point - just when pensions are about to be deposited in the Thai bank

It is has been noted previously that the onshore value of USD/THB drops at the start of each month when US Social Security funds are deposited and USD is sold for THB.

[KannikaP]

5 minutes ago, Brierley said:

It is has been noted previously that the onshore value of USD/THB drops at the start of each month when US Social Security funds are deposited and USD is sold for THB.

Do you really think that the Worldwide value of the USD/THB is dictated by a few US pensioners living in Thailand? I think not.

[BritManToo]

On 3/29/2021 at 7:45 AM, Farang99 said:

Have you noticed that every month end it seems to hit a low point - just when pensions are about to be deposited in the Thai bank

Not really, but if it was some evil conspiracy, there's nobody forcing you to change on the first of the month.

[Brierley]

1 hour ago, KannikaP said:

Do you really think that the Worldwide value of the USD/THB is dictated by a few US pensioners living in Thailand? I think not.

The Thai Baht is a restricted currency that cannot be freely exported, it's value is determined by foreign exchange transactions inside Thailand not worldwide. It is also a boutique currency in FOREX terms, it is so small in global currency terms that it doesn't take much to change its value, that's why it's a still a restricted currency.

 

"A person traveling to Vietnam, the People's Republic of China (only Yunnan province) and Thailand's bordering countries is allowed to take out up to THB 2,000,000. A person traveling to other countries is allowed up to THB 50,000".

 

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

[Chivas]

Some of these posts are utterly mind boggling

There really should be some sort of IQ tests before Passports are handed out

[Brierley]

25 minutes ago, Chivas said:

Some of these posts are utterly mind boggling

There really should be some sort of IQ tests before Passports are handed out

THB may well be traded offshore but NEVER for delivery, trades for delivery of the currency are only possible onshore. Overseas banks are not permitted to hold more than fairly low levels of THB, if they exceed the limits prescribed by BOT they will not be allowed to deal with Thai banks. Lastly, anyone wanting to transfer THB outside of Thailand must first convert it to foreign currency, banks typically do this on the customers behalf, exceptions include the limits to Chinese provi9nces shown above.  THB remains not fully convertible, it cannot be expected in other than small amounts, for that reason the value of the currency is determined almost exclusively in Thailand, not globally. If you cast your mind back several years, BOT imposed a 15% tax on overseas funds that were repatriated in under one year. That created a dual currency exchange market, onshore and offshore, the rate for which was different except the rate for delivery of the currency was the onshore rate.

 

Read the BOT foreign exchange regulations is you think otherwise.

[Brierley]

I was warned this site might be like this, life's too short to spend even an hour of it with abusive and childlike posters. Perhaps the mods can save me the trouble and close my account? Bye all.

[Chivas]

7 hours ago, Brierley said:

THB may well be traded offshore but NEVER for delivery, trades for delivery of the currency are only possible onshore. Overseas banks are not permitted to hold more than fairly low levels of THB, if they exceed the limits prescribed by BOT they will not be allowed to deal with Thai banks. Lastly, anyone wanting to transfer THB outside of Thailand must first convert it to foreign currency, banks typically do this on the customers behalf, exceptions include the limits to Chinese provi9nces shown above.  THB remains not fully convertible, it cannot be expected in other than small amounts, for that reason the value of the currency is determined almost exclusively in Thailand, not globally. If you cast your mind back several years, BOT imposed a 15% tax on overseas funds that were repatriated in under one year. That created a dual currency exchange market, onshore and offshore, the rate for which was different except the rate for delivery of the currency was the onshore rate.

 

Read the BOT foreign exchange regulations is you think otherwise.

 

I have no idea why you quoted me but I have to say nonetheless that I haven't got a clue whatsoever what you're babbling about