Baht becoming ridiculously strong

[dddave]

10 minutes ago, NativeBob said:

Thanks for clarification. I've been told scary stories about those "90+60 days in a sandbox" - seems that 365-(90+60)=215 is quite healthy relieve to me. 

One thing I'm not 100% clear on.  I believe you have to be able to show the replenishment funds came from an overseas account, just like the original B800K, but, as I said, not 100% certain.

[NativeBob]

33 minutes ago, dddave said:

you have to be able to show the replenishment funds came from an overseas account

That is what scares me most. I don't like to collect and show "proof of origin" and had pretty nasty experience with Standard Chartered Bank donkey-manager back then.

 

Yes I can send crypto to some "money helper" and he will use WU, but still not comfortable with such an idea.

[david555]

3 hours ago, NativeBob said:

That is what scares me most. I don't like to collect and show "proof of origin" and had pretty nasty experience with Standard Chartered Bank donkey-manager back then.

 

Yes I can send crypto to some "money helper" and he will use WU, but still not comfortable with such an idea.

Not sure about that (?), as when using the 800K om Thai bank  , you can take up to 400 k after 3 months after getting your ext.  but theoretically you could kept those 400 K max. under your pillow head 😉.... safe for in case you " could " die to let to "darling wife/ girlfriend " 😁....until next extension filling them  up to 800K

 

For those on the monthly transfers they need proof  it comes  from abroad transfer

Edited Sunday at 02:37 PM by david555

[NativeBob]

6 minutes ago, david555 said:

For those on the monthly transfers they need proof  it came  from abroad transfer

That's scares me. Proof no proof but proof if monthly. Me head is spinning.

 

Well, @david555 you say I do need to show the "proof of origin" with 400K THB deposit to show?

[david555]

14 minutes ago, NativeBob said:

That's scares me. Proof no proof but proof if monthly. Me head is spinning.

 

Well, @david555 you say I do need to show the "proof of origin" with 400K THB deposit to show?

Not sure , as reports are that in case money already "some time" on account no questions asked , probably they know so it is your own money , and NOT  from an agent account ...

 

As also you could bring it cash in foreign money in  to Thailand and report it to Suvharnaboum customs red channel , and of course  you also reported it in home country Customs   with a declaration form as proof  .

Edited Sunday at 03:01 PM by david555

[NativeBob]

7 minutes ago, david555 said:

As also you could bring it cash in foreign money  to Thailand and report it to Suvharnaboum customs red channel

Yes that was fun some years ago! Customs took $XK from me, make a gazzilion copies, asked me to signed them, after IO run away with my cash, returned like 15-20 minutes later. 

Issue some form that I never used applying for RT visa.

 

They were nice and kind people, they just didn't know what exactly to do. 

Thanks, I'll keep it still in the bank until ...

[david555]

10 minutes ago, NativeBob said:

Yes that was fun some years ago! Customs took $XK from me, make a gazzilion copies, asked me to signed them, after IO run away with my cash, returned like 15-20 minutes later. 

Issue some form that I never used applying for RT visa.

 

They were nice and kind people, they just didn't know what exactly to do. 

Thanks, I'll keep it still in the bank until ...

Of course they have to check deep or just on surface , but it is possible to do , IF following the rules with proof ....

But i took the example that you would be living in Thailand , not traveling with those 400 K to home country , because that would be a hassle

And in your home country you could have the same hassle 

 

PS  :  you should followed the custom officer when he went counting the money by machine !!

Edited Sunday at 03:28 PM by david555

[david555]

This would be the form of Thai customs they gave you after declaring the ,money brought in on airport, i have an original in PDF  but this site does not accept PDF attachments

Edited Sunday at 04:06 PM by david555

[NativeBob]

23 minutes ago, david555 said:

PS  :  you should followed the custom officer when he went counting the money by machine !!

Old time switcharoo. I was scammed exactly same way in Turkey, and my friends called me "a careless idiot". Yet the IO was fat and very intimidating. He said "You stay here and wait". 

That was years ago, but still feel aftertaste.

 

Yes @david555 ^^^ that form.

Edited Sunday at 03:48 PM by NativeBob

[david555]

Example why taking the cash to Thailand  yourself :

 

A) get a Non o in home country following the requirements proof of value on Home country bank of 800K

B) as you do not have a Thai bank yet , you can not transfer by bank

C) you need Non O visa  for opening Bank in Thailand , so you take it cash  to Th. following customs procedures

D) Once in Thailand with the Non O open Th bank account and deposit the 800 K

E)  after 2 months money on bank  you can start  the extension

 

that is why it is possible to make a foreign Cash transfer by flight , unless you like flying 2 times up and down to make first flight for opening Th. bank account and so transferring by bank to Thai account

Edited Sunday at 04:04 PM by david555

[StandardIssue]

For whatever reason it seems that when the US stock exchange does well the Baht strengthens against the USD. I don't quite know how those correlate but I've noticed it.

 

I have found it beneficial to keep my immigration funds in a FCA and trade into Baht when the exchange rates are favorable. That's worked pretty well for me. I'll be buying some more baht soon.. the Baht will probably get stronger as the US Fed will be lowering interest rates fairly soon.

Edited Sunday at 04:47 PM by StandardIssue

[JoseThailand]

On 9/6/2024 at 11:58 AM, Raindancer said:

Just doesn't make sense to me.

 

In simplistic terms, tourists get less for their exchange currency.   So, their spending power is less.

 

Exports cost more to other countries,  because they actually pay more for the same items, than when the exchange rate was more in their favour.

 

Or are those thought incorrect?

 

It makes total sense. Supply and demand. The more tourists come in, bring in foreign currencies and buy Thai baht, the stronger the baht becomes.

[In Full Agreement]

On 9/6/2024 at 11:51 AM, MalcolmB said:

So my 800,000 baht in my retirement visa fund has gone up in value even more.

 

Thankyou Thailand! 

probably because we have Thaksin back in charge I am guessing?

 

 

Are you able to use or spend that money?

 

 

[MalcolmB]

6 hours ago, In Full Agreement said:

 

 

Are you able to use or spend that money?

 

 

Yeah, got plenty.

[In Full Agreement]

7 hours ago, MalcolmB said:

Yeah, got plenty.

 

I thought the 800,000 THB deposited in a fixed deposit account had to remain in the account if it was intended to be used for an annual extension.

[swissie]

I mentioned before how important the central banks and their "actions" are, concerning exchange rates.

In the case of Thailand: Among many other considerations, Thailand wants to remain an "export nation" as this will generate a lot more revenue as the "tourist sector".

Therefore, the BoT will see to it that the Bht does not strenghten any more in a meaningful way. The Bht may well be near a "peak".

 

Giving solace to Farangs living in Thailand.

[mstevens]

The Fed just lowered the interest rate by 0.5%. Watch the baht shoot up against the USD today. Go, baht, go! Getting 33.xx at exchange outlets looks like it will be a memory for a while. Hello, 32.xx!