Thai Baht Exchange Rate So Low How Are You Dealing With It?

[chiang mai]

6 minutes ago, Patong2021 said:

 

You have made a significant point, although the Thai board of Investment - BOI does  provide a split.

Mind blowing. because of the overwhelming dominance of Chinese investment. I didn't appreciate how powerful and influential the Chinese were until you mentioned this. To be honest, I now get it why China holds so much influence over Thailand. I would even go so far to say that Thailand is becoming a puppet state.

 

As of 2024 Approved Foreign Investment Projects in Thailand (Source Thailand BOI) -

Top 4 International Investment Projects

-Mainland China has 164 projects worth 69.283 billion baht and Hong Kong has 30 projects worth 24.287 billion baht for a combined Chinese total of 194 projects 93.607 billion baht

-Singapore has 63 projects worth 53.683 billion

-Australia has 5 projects worth 14.840 billion baht

-Japan has 87 projects worth 12.885 billion baht

 

 

The Chinese capital inflow article is 5 years old.

[Hawaiian]

22 hours ago, ericbj said:

All currencies these days are fiat currencies.  They are backed by nothing durable.  They are backed by public confidence, and that relies upon the supply of a currency being related to the availability of goods and services.  "Money-printing", e.g. through ever-expanding unproductive debt, obviously increases the money supply resulting in its devaluation (commonly referred to as "inflation").

 

Financialisation of government debt - central bank loans to government to cover ever deepening budget deficits - is likely to get worse in the foreseeable future.  So be prepared!

 

In the days when paper money was promissory notes to supply gold, its purchasing power fluctuated only slightly over centuries.

 

Gold is difficult to wrest from the ground, and cannot be conjured up out of thin air.  It is a hard asset.  Not a credit note.

 

The down-side of gold is that it does not produce interest or dividends, but on the contrary there is a cost of storage and insurance (except to the extent that one may hold a small amount in a secure place at home)

 

Putting some cash into the shares of a gold royalty/streaming or established mining company (NOT an exploration company - highly speculative) can be a way of deriving some income from gold investment.  With leverage - up or down - in capital value, depending upon whether the gold price is rising or falling.

 

When purchasing bullion that is to be stored and insured, it is important to make sure that the dealer transfers it to a reputable, specialised bullion storage company and that you personally are listed as the owner.

 

Some Thais lost their stored gold during the crisis of 1997.  Their dealers retained the gold in their own name [it was not "allocated"], perhaps holding it as security against borrowing, and when they went bankrupt their creditors took the gold.

 

Gold that is held in secure vaults is very quickly and easily sold in on-line dealing, using the same dealers through which it was purchased.

 

If interested, it may be worth perusing these sites :

 

https://www.bullionvault.com/

 

https://swpcayman.com/

 

https://www.goldcore.com/

 

Gold may not generate interest, but has the potential to appreciate in value.  In the past 7 years gold has more than doubled in value. 

[Speedhump]

7 hours ago, itsari said:

The protocol used of 65,000 baht a month could be difficult for many to follow if the baht continues to strengthen. 

Ship out then? 

No , you will use the 800,000 baht in a Thai bank account or you use an agent .

People who can't afford to bring in 65k a month will have 800k in country? They're fools if they do. I would never have more cash in Thailand than I need to live on. An agent is the only answer for them.

[brianthainess]

On 9/21/2024 at 1:41 PM, shackleton said:

Not a problem I am content with 44-45 baht to the British pound 🤑

TT rate today for Krungsri is 43.41866 

[itsari]

12 minutes ago, Speedhump said:

People who can't afford to bring in 65k a month will have 800k in country? They're fools if they do. I would never have more cash in Thailand than I need to live on. An agent is the only answer for them.

A combination method of the two methods could be used .

Some immigration offices will not accept that method of applying for a 12 month extension.

If you had 800,000 baht in the country and transferred the funds to a dollar account you would win with the strengthening baht. 

[Bill97]

20 hours ago, ModdaPunk said:

Vietnam (3 months rather than 90 days)

What is that, 2 days difference?

[Skeptic7]

Don't like it, but doesn't impact my lifestyle in the least. 🤑

 

Sure it's considerably lower, down 10% over the past 3 months...but it's been 10% lower than this over the past 20 years.