Keep Euros Or Change To Baths?

[Jahil]

I am planning to move definitively to Thailand soon.

I am wondering what to do with my savings: echange to Baths or keep in Euros?

Additional question is where to have it? In Europe? in Thailand or somewhere else?

Thank you for your advise

[Oswulf]

I am planning to move definitively to Thailand soon.

I am wondering what to do with my savings: echange to Baths or keep in Euros?

Additional question is where to have it? In Europe? in Thailand or somewhere else?

Thank you for your advise

I presume you're European, so your best bet is to keep the bulk of your money offshore. Then there are no Thai or European taxes to pay on the interest. It does make you vulnerable to Baht/Euro exchange rate fluctuations, but that's probably a risk worth accepting. If the amount of your savings is significant, you could hedge the risk.

Suitable offshore destinations in Europe include Jersey, Guernsey, Isle of Man, Luxembourg, Switzerland. In Asia you might consider Singapore.

[Gary A]

The safest way is to have half here and half in your own country.

[sweetchariot]

It depends how many baths you need. I only have 2 bathrooms so would probably keep it in Euros

[johnnyk]

I launder my money in the shower

[jackr]

The safest way is to have half here and half in your own country.

I'd call 5% here and 95% there safe

[Lite Beer]

The safest way is to have half here and half in your own country.

I'd call 5% here and 95% there safe

Exactly. Have as little in Thailand as you can get away with. Small interest rates plus tax to pay.

You probably would be better buying BATHS than Bahts.

[Lucifer]

The safest way is to have half here and half in your own country.

I'd call 5% here and 95% there safe

Exactly. Have as little in Thailand as you can get away with. Small interest rates plus tax to pay.

You probably would be better buying BATHS than Bahts.

Metal or plastic?

I think plastic are better as long as they're about 10mil plus.

[sweetchariot]

Although baths are bouyant at the moment, I would hedge in showers. The shower market is very bullish at the moment and likely to clean up.

Sorry I am bored today - agree with previous poster, keep as little here as you can get away with, at least for the time being.

[Lite Beer]

You could always invest your baths in a bar..........of soap.

Sorry . Seriously keep most of your money in Europe or off shore.

[BalthazarBeefheart]

You could always invest your baths in a bar..........of soap.

Sorry . Seriously keep most of your money in Europe or off shore.

But don't make the mistake of not having consideration for exchange rate fluctuations - higher interest rates can we wiped out very quickly.

Cheers BB

[wineman]

Keep as much money as you can back in Europe. I do.

After carefully keeping a record of expenses over a 3 month period, I estimated my monthly outgoings, added 25%, and arranged for that amount to be transferred each month from HSBC to my account here in Banglamung. Works for me.