What's that sound? Americans whooping in joy at the exchange rate!

[bluebluewater]

So it goes from 35.35 to 35.08 and someone thinks it's "falling off a cliff".  

 

Your cliff and my cliff ain't the same cliff.

[KhunLA]

1 hour ago, bluebluewater said:

So it goes from 35.35 to 35.08 and someone thinks it's "falling off a cliff".  

 

Your cliff and my cliff ain't the same cliff.

Sucked in by the visual ... guess forgot to read the #s

[tingtong]

Not sure why any longer term expat American be whooping with joy at this rate....

( I am a non-US citizen, so excuse me not understanding)...

 

But I recall moving here in 2002....

1 USD = 43.5 THB

1 plate fried rice street side 20thb or 

1 USD = 2 fried rice

 

The current rate certainly off the lows, but I would think to hold the real whooping until buying parity is closer to that 2 fried rice or approx

1 USD = 100 THB

 

Then Thailand would be equally cheap as then. 

Right now the fried rice meter says it is nearly 3x more expensive as it used to be 20 yrs ago. 

 

 

[arithai12]

15 hours ago, Pattaya Spotter said:

All the members who have been prophesying the demise of the ???????????? for years must be eating bowls of humble somtum right now ???????????? 

 

As I always advised them...don't bet against Uncle Sam ????????????

Very short sighted. The US$ is up at the cost of everything costing more. But if it makes you happy...

[Venom]

16 hours ago, Pattaya Spotter said:

All the members who have been prophesying the demise of the ???????????? for years must be eating bowls of humble somtum right now ???????????? 

 

As I always advised them...don't bet against Uncle Sam ????????????

Until you consider those pesky rate of inflation numbers. ????????????

[Kenneth White]

Up and down. The way I see it is the pendulum swing two ways. Prepare yourself and hold on to some of that extra baht.

[JimmyJ]

14 hours ago, KhunLA said:

Social Security disbursements coming soon ... coincidence ... ????

I don't understand.

[IAMHERE]

4 hours ago, arithai12 said:

Very short sighted. The US$ is up at the cost of everything costing more. But if it makes you happy...

Just a matter of time before someone blames Thai inflation on the USA. Heck, I assumed Thai inflation was caused by Brexit. My bad.

[ThailandRyan]

4 hours ago, arithai12 said:

Very short sighted. The US$ is up at the cost of everything costing more. But if it makes you happy...

It is not the greenback that has made prices rise, you need a lesson on world economics and global inflation.

[Gecko123]

1 hour ago, ThailandRyan said:

It is not the greenback that has made prices rise, you need a lesson on world economics and global inflation.

Arithai12's comment may have been a little bit awkwardly worded, but it is not incorrect from an economics standpoint. He is saying that the USD is up because US interest US rates are up because inflation is forcing the Fed's hand. That's no cause for celebration.

 

The strong dollar may make imports to the US cheaper (helping the US consumer), but it also makes goods from the US more expensive to export (hurting manufacturers and exporters). Higher interest rates are going to drive the costs of financing the Federal debt and deficit exponentially higher -  and even more importantly - rising inflation and the COLA adjustments which will be needed to keep up with them is going to put enormous stress on the fiscal viability of entitlement programs - something which all forum members should be concerned about.

 

To celebrate "the strong dollar" while turning a blind eye to the raging inflation driving interest rate hikes as well as the looming fiscal train wreck is indeed shortsighted. In no way should the strong dollar be viewed as a sign of America's economic health. And just one last point: if the Fed "pivots" prematurely, or suddenly decides that 5% inflation is the "new normal" and starts reducing or pausing interest rate hikes prematurely, I expect the dollar to absolutely crater.

 

 

Edited June 29, 2022 by Gecko123

[Pattaya Spotter]

7 hours ago, arithai12 said:

Very short sighted. The US$ is up at the cost of everything costing more. But if it makes you happy...

I thank President Biden and his Democrat Party for the raging inflation...trillions in "stimulus" giveaways (and checked on pouring 3 trillion more on a shortage choked economy by the GOP). Then he has the brilliant idea of placing economic sanctions on one of the world's top producers/exporters of oil, natural gas, potash, fertilizers, and wheat causing the price of all to skyrocket making Russians richer and everyone else in the world poorer by setting off huge price inflation on these critical primary commodities ????????????

[Pouatchee]

What a load of...

The only exchange rate that is somewhat accurate is the Krungsri bank. 

 

I don't know where people here exchange there money  but I never get the 'woopdee doo' rate that aseanow claims is so great.

[portlandtree]

On 6/28/2022 at 11:19 AM, VocalNeal said:

So it's back to 2007 value? Whoopdeedoo

It was 36.41 in 2016

Edited June 29, 2022 by portlandtree

[Misterwhisper]

On 6/28/2022 at 11:08 AM, webfact said:

If you're wondering why your American expat neighbors are whooping in joy it's only because of the exchange rate.

By contrast, my CANADIAN neighbors were whooping in joy when their usual drinking buddy turned up with a big, fat bag full of kush recently. While the whooping commenced for an hour or so thereafter, it subsequently got conspicuously quiet in the Canadian compound for the remainder of the evening. Which in turn caused me to whoop in joy.... as normally when they drink they are incredibly noisy until the early morning hours.  

[Misab]

On 6/28/2022 at 11:30 AM, ThailandRyan said:

Why have we dropped .27 baht per USD since Friday.  There is no reason unless some type of manipulation is at hand. We'll now it's only a drop of .16 baht per USD, but still what's affecting this and whose playing with exchange rates by purchasing Thb with the USD in the reserves, is it the BOT?

That should not come as a surprice because it happens at the end of every month. just before you are going to transfer your pension thai baht rise, and your pension get a little smaller. the exchange rate will normalize again within a weeks time.  Yes, you may ask; why  does it happen?  

[CrunchWrapSupreme]

On 6/28/2022 at 12:15 PM, Henryford said:

How many trillions does the US have to print before it affects the dollar?

It's infinite ????????????????

[jerrymahoney]

So in the past few weeks we've been told on these pages:

 

The DowJones may soon collapse.

The world food supply/distribution system may soon collapse, and now

The US Dollar may soon collapse.

 

Thanks, fellas.

[CrunchWrapSupreme]

1 hour ago, Misterwhisper said:

While the whooping commenced for an hour or so thereafter, it subsequently got conspicuously quiet

Exactly what the Thais need, rather than yaba and lao khao. ????

[MarcB]

My 10 cents (soon to be worth 1 cent)....

 

Winter is coming.

Meaning: energy, oil, gas, hitting the roof.

Half your paychecks will go to utility bills.

 

Higher energy prices equate to higher food and supply prices...

 

Can see it yet?

I'll go even further.

Higher commuting prices, production and manufacturing, and yes... taxes!!!

 

No problemo, let's print some money...

Oh wait, we can't pay for ink cartridges.

Because we printed too much and REAL inflation catches up...

 

Winter is gonna be a storm.

This small trading range, with its downward bias, is the beginning.

 

Not only the USD, but the whole basket of SDR currencies are coming to a stop, and yes, it's gonna crash. It just the only option.

There exists no such thing as an ever growing economy.

 

Welcome to the big reset....

 

So my 1 cent, people who paid off their homes and mortgages can grow little food.

 

All others will lose to the bank and are fckd.

 

Didnt wanna say it, but you'll wake up eventually.

[KhunLA]

Real USD/THB ATM withdrawal rate yesterday @ 1500 hr

฿16,000 = $462.90 @ BkkBank @ 34.5647 (no bank fees)

BkkBank's posted TT buying rate @ 1400 hrs was 34.99 

Now 30Jun 08:30 @ 35.15 (TT rate)

 

DD rate, have to wait till next week, arrives about the 3rd.

Any where between 34-35 ... I'm happy.

Edited June 30, 2022 by KhunLA

[ThailandRyan]

18 minutes ago, KhunLA said:

Real USD/THB ATM withdrawal rate yesterday @ 1500 hr

฿16,000 = $462.90 @ BkkBank @ 34.5647 (no bank fees)

BkkBank's posted TT buying rate @ 1400 hrs was 34.99 

Now 30Jun 08:30 @ 35.15 (TT rate)

 

DD rate, have to wait till next week, arrives about the 3rd.

Any where between 34-35 ... I'm happy.

Back up to 35.31 Thb to $1 today.  Today also seems to be a bank holiday according to my computer which just popped it up. Strange as I do not find it on the list BOT has for holidays.  My computer calendar must be jacked up.

 

Edited June 30, 2022 by ThailandRyan

[KhunLA]

42 minutes ago, ThailandRyan said:

Back up to 35.31 Thb to $1 today.  Today also seems to be a bank holiday according to my computer which just popped it up. Strange as I do not find it on the list BOT has for holidays.  My computer calendar must be jacked up.

 

I use BkkBank (BBL) for all, though rare, ATM withdrawals along with monthly SS DD.

 

Actually misquoted BBL rate yesterday and should have read 35.29 ... oops

Edited June 30, 2022 by KhunLA

[KhunLA]

Soc Sec DD 1 July / ฿34.6376 / $1 USD

BBL rate 1 July 

Earlier in the day:

 

 

Edited July 3, 2022 by KhunLA

[ThailandRyan]

50 minutes ago, KhunLA said:

Soc Sec DD 1 July / ฿34.6376 / $1 USD

BBL rate 1 July 

Earlier in the day:

 

 

Amazing BOT, do you send it yourself from the BBL in New York from your bank or is it wired by SS to your bank of choice.

Edited July 3, 2022 by ThailandRyan

[KhunLA]

9 minutes ago, ThailandRyan said:

Amazing BOT, do you send it yourself from the BBL in New York from your bank or is it wired by SS to your bank of choice.

 

SS sends it direct to BBL / PKK branch

Edited July 3, 2022 by KhunLA

[rumak]

On 6/28/2022 at 10:53 PM, tingtong said:

Not sure why any longer term expat American be whooping with joy at this rate....

( I am a non-US citizen, so excuse me not understanding)...

 

But I recall moving here in 2002....

1 USD = 43.5 THB

1 plate fried rice street side 20thb or 

1 USD = 2 fried rice

 

The current rate certainly off the lows, but I would think to hold the real whooping until buying parity is closer to that 2 fried rice or approx

1 USD = 100 THB

 

Then Thailand would be equally cheap as then. 

Right now the fried rice meter says it is nearly 3x more expensive as it used to be 20 yrs ago. 

 

 

or as a few old sex pats might call it :   the short time meter 

 

maybe you only get half the time for the price ....

but the thighs are twice the size 

Edited July 3, 2022 by rumak

[gamb00ler]

@KhunLA

FYI the Visa exchange rate for Jul 1 was 35.275 and Mastercard was 35.285

Since the US$ was trending up on Jul 1, those rates look very reasonable.

 

If you can, open a Capital One 360 checking account and use their debit card to move funds to Thailand via teller "cash advance".  That way you will have more control over what exchange rate you get.

 

I use a Thai address for SS benefits that are DD to a US account with a US address.  I think my benefits are paid on the same dates as all other Thailand based payees.

[KhunLA]

16 minutes ago, KhunLA said:

 

SS sends it direct to BBL / PKK branch

 

25 minutes ago, ThailandRyan said:

Amazing BOT, do you send it yourself from the BBL in New York from your bank or is it wired by SS to your bank of choice.

Routing (EU ?):

 

[ThailandRyan]

24 minutes ago, KhunLA said:

 

SS sends it direct to BBL / PKK branch

By USD I hope, and not exchanged in the US prior to sending. Bahtnet would indicate it was exchanged into Thai Baht by an intermediary and not transferred as USD.

Edited July 3, 2022 by ThailandRyan

[freedomnow]

My garbage UK pound continues to tumble....boo hoo.

 

55 Baht to £1 seems a decade ago and 75 Baht was just sublime in mid-00s or so.