The Thai Baht

[ralphie]

In relation to US dollar value, it seems now the Baht is a value. Good time to open a Thailand bank account.

Assuming the dollar continues its depreciation and the US economy recedes with of the rest of the world. what reaction will the value of the Baht be? Thank you.

[rocky]

I have bought a little Tbh over the last year and watch the money markets, sometimes daily. I can only talk about the bht against sterling. the Bht reached a high about a 6 weeks ago of about 76.5bht to £. It presently is holding at around 74bht to £. It is considered that the bht could go as high as 80bht to £, but may not. Standard bht against £ is 60bht

The bht is at a high at the moment, the bird flue, price of oil have helped to put the bht where it is and hold it. It is considered that if the oil price falls so will the bht.

My view is now is a great time to open an account and buy bht. It is possible in my view that the bht is at a high and has remained high for 6 months or so. It is possible that the bht will begin to fall to its normall rate of 60bht - £. It is less likely that it will rise above the 76bht high. Even if it does rise it can only be a few bht will the fall could be 14bht.

I would do it now.

Though watch the money market daily over a month and you will get a feel for what is happening, if the uk is about to up interest rates, wait until the this has happened then you will see the bht rise for a few days.

I am not a finacial adviser and have no training, these are only my views and I hope they do not lead you wrong

[rocky]

Just a thought,

It dosent really matter what the exchange rate to open a bank account in thailand as you only need to deposit a small amount.

I sudgest you open the account now and watch the exchage banking rates.

If you send more than 20,000$ to the thai bank do it through bankaing as you will get a better rate buying the currency at the bank. You will get close to .5bht short of the full banking rate. Sending the money will cost about 30-50$

I hope this information is of help to you

[GuestHouse]

Yep, Thai bank accounts are a great idea, the fact you will get a low rate of interests and pay transfer fees in/out of Thailand make it even more attractive.

[Heng]

Call up your broker and do your forex trading on an exchange by PHONE or by computer, like most normal people do. You'll lose your shirt or make your bundles a hundred times faster.

Manual trading with actual cash and savings account is for grannies.

[ralphie]

Rocky thank you for the measure response. The Sterling has never been on my radar so with a hearty God save the Queen I gave it a few minute look in your honor.

My concern is the US Dollar depreciating another 25 to 40 percent real quick here and having intentions of visiting Thailand for an extended vacation/retirement now may be the time to open an account, rates here in the US are poor so money sitting idly but not depreciating might be ok.

In a global slowdown its hard to have an confident opinion of foreign currency. The Baht retreating to 25 would be unpleasant.

Your probrability of whats more likely is along my liking. Down side verses upside possiblilities. It a complicated world I try to keep it simple.

[ralphie]

Hello Heng, Unfortunatly I am my broker. Forex trading is not my forte. I am a automotive person. Currency values are interesting and I study it too much but the downside possiblities of futures trading is too risky for my limited tolerance.

Everbank is as close as I get too currency hedging. Simple CD type transaction. With the choice of fine banks represented in Thailand and my future plan for extended vacations there it seems current conditions and exchange rates favor action. The economic conditions of Thailand and its relation on the Baht is my question mark. Have not been to Thailand in over 30 years. Thank you for your response.