Impact Of Stong Baht

[tattoodrob]

Sent some GBP over in July at around 65 and then it hit low 60's and I had some cash lying around in GBP I didn't want to change at low 60's. Guess I'll not be changing it at 50 to £1 anytime soon.

Down 20% in 2 months and down 32% from high north of 74.

I never thought much of it as being above 60 (my post 1997 average) but newcomers expecting 70 or so must be killing themselves at 51 !

What's the point of comparing with a high point and getting depressed about it. The GBP has had a good ride, now it is coming down to a more realistic level.

As a non-Brit I'm pretty happy about it because it will serve to keep away a lot of the British riff-raff running around town giving Farang a very bad name. The more afluent Brits will continue to enjoy life in Thailand as usual.

The people you really need to be sorry for are the Aussies whose dollar has dropped about 30% in only a few months.

OK Brits, fire away!

you think 51 is a realistic level ....i cant even remember it ever being that low before but maybe some of the older members might?

you also think that the british riff raff wont be coming.......oh dear i think you will be in for a surprise and as they cant afford the ladies then it means more drinking and fighting instead

[RAZZELL]

As a non-Brit I'm pretty happy about it because it will serve to keep away a lot of the British riff-raff running around town giving Farang a very bad name. The more afluent Brits will continue to enjoy life in Thailand as usual.

The people you really need to be sorry for are the Aussies whose dollar has dropped about 30% in only a few months.

OK Brits, fire away!

If the baht stays this strong there'll be no riff-raff...infact there'll be no tourists full-stop!

RAZZ

[tropo]

If the baht stays this strong there'll be no riff-raff...infact there'll be no tourists full-stop!

RAZZ

That's a pretty narrow viewpoint.

My position is improving. Against my currency (USD) the baht has been strong for a long while. The USD has been on a downhill slide against the Thai baht since July 2001 with only a slight, steady recovery this year.

Apart from the USD, other currencies are strengthening significantly against the Thai Baht.

Japanese Yen

Chinese Yuan

Hong Kong Dollar

All the Arabian currencies

So perhaps we'll see more Arabs, Americans, Japanese and Chinese coming here.

Thailand still offers great value for money even at the lower exchange rates, so tourists will still come. I think it's the political unrest that will have the greatest impact on tourist numbers, not the exchange rate.

[spiderman2]

As a non-Brit I'm pretty happy about it because it will serve to keep away a lot of the British riff-raff running around town giving Farang a very bad name. The more afluent Brits will continue to enjoy life in Thailand as usual.

The people you really need to be sorry for are the Aussies whose dollar has dropped about 30% in only a few months.

OK Brits, fire away!

For a single Brit thug on a 2 week holiday he only needs 1000GBP to live like a king, for him to keep the high life up he will only need 200-300gbp more this year then he needed last year, however those hiso polite British families with their sweet little kiddies that spend a lot of money on day trips, indigenous goods etc...will now be needing a good 1000-2000GBP more in spending money and flights, hence its these ones that wont be coming.

Us blue bloods will be upholding the bad name of farang males in Pattaya for many years to come.

[GENeIsUS]

As a non-Brit I'm pretty happy about it because it will serve to keep away a lot of the British riff-raff running around town giving Farang a very bad name. The more afluent Brits will continue to enjoy life in Thailand as usual.

The people you really need to be sorry for are the Aussies whose dollar has dropped about 30% in only a few months.

OK Brits, fire away!

For a single Brit thug on a 2 week holiday he only needs 1000GBP to live like a king, for him to keep the high life up he will only need 200-300gbp more this year then he needed last year, however those hiso polite British families with their sweet little kiddies that spend a lot of money on day trips, indigenous goods etc...will now be needing a good 1000-2000GBP more in spending money and flights, hence its these ones that wont be coming.

Us blue bloods will be upholding the bad name of farang males in Pattaya for many years to come.

What makes you blue blood Brits think you have a lock on the title riff-raff?

I have been an ugly American (In more ways than one) off and on here in Thailand for more than 40 yrs. Nasty temper, sharp mouth and generaly cranky about everything. I also don't restrict my ill-manners to a puny little town like Pataya. I spread it around from North to South and all between. The first time I was in Pataya there was only 4 bars in the whole area. Awesome to think about, eh? But, keep up the good work, maybe you'll catch up some day.

[JMS]

The point missing here is that now the UK is in recession with nobody spending money. The only way out of a recession is by getting people to spend money hence large interest rate cuts. That is why the GBP is so low. As other countries around the world go into recession the same will happen to them, but I do not think Thailand will be one of them so the currency will remain fairly strong against most currencies. I hope I am wrong but we will see. Also after the last coup the Baht got stronger

[spiderman2]

What makes you blue blood Brits think you have a lock on the title riff-raff?

I have been an ugly American (In more ways than one) off and on here in Thailand for more than 40 yrs. Nasty temper, sharp mouth and generaly cranky about everything. I also don't restrict my ill-manners to a puny little town like Pataya. I spread it around from North to South and all between. The first time I was in Pataya there was only 4 bars in the whole area. Awesome to think about, eh? But, keep up the good work, maybe you'll catch up some day.

Thats the difference between the Septics and us scumbag Illuminati, you have to boast and brag about being of an immoral persuasion, having knuckles that scrape the floor and kicking <deleted> out of the little guy just because you can ............whereas as with us Bluebloods our reputation is legendary the world through and just the mere sight of us in shorts, socks and sandles is enough to send a shiver down the spine of the non skin head tattoed masses.

[Cuban]

However with careful savings, and a reduction of non essential luxuries I can reduce my spending by 90 GBP per month so that in real terms my yearly loss is just 1,200 GBP per year.

So not the end of the world?

However price inflation will further limit your expeniture on non essential luxuries like tasty animal protiens and fermented beverages.

[Guderian]

I'm grateful to the Immigration Police and their insistence that we have 800K Baht here before they will give us a retirement extension! Late last year I brought a pile of money into Thailand, including the 800K Baht, all at 68 Baht/£. I've still got that 800K sitting in my bank account waiting for the next renewal, and once that's done I can live on the money for the best part of 2009. So luckily I don't have to worry about exchange rates until September next year.

Of course, then when I have to bring in another pile of money, the rate will probably be 40/£... ...IF the pound is still a convertible currency...

[Rajah]

Euro - Dollar 3 months

Euro - Baht 3 months

Euro - Dollar 6 months

Euro - Baht 6 months

Looks equal.

[eyebee]

Nothing better to do, and I want to stand up for American greed and business practices.

What's your excuse?

I live here.

[BusyBee123]

the bell will just have to stop ringing as much

[tropo]

you think 51 is a realistic level ....i cant even remember it ever being that low before but maybe some of the older members might?

you also think that the british riff raff wont be coming.......oh dear i think you will be in for a surprise and as they cant afford the ladies then it means more drinking and fighting instead

That was Terranova's comment (about the GBP)

Do I think the British riff raff won't be coming?

Not really.

The problem is that no matter what the exchange rates are, Pattaya is exceptionally good value for money. The expensive holiday destinations will be the ones to suffer.

[Hairy]

the bell will just have to stop ringing as much

Stupid n00b question: what's with the bell?? (I've visited LOS 4 times, never heard of it before.)

[LennyW]

the bell will just have to stop ringing as much

Stupid n00b question: what's with the bell?? (I've visited LOS 4 times, never heard of it before.)

Were you confined to your hotel room for the duration of your visits???

[NanLaew]

the bell will just have to stop ringing as much

Stupid n00b question: what's with the bell?? (I've visited LOS 4 times, never heard of it before.)

Were you confined to your hotel room for the duration of your visits???

Or, he may just have a natural khiiniaow gene in there somewhere that somehow filters out the bells?

[NanLaew]

As a non-Brit I'm pretty happy about it because it will serve to keep away a lot of the British riff-raff running around town giving Farang a very bad name.

Wot abaht your Aussie riff-raff then, eh tropo?

[tropo]

As a non-Brit I'm pretty happy about it because it will serve to keep away a lot of the British riff-raff running around town giving Farang a very bad name.

Wot abaht your Aussie riff-raff then, eh tropo?

What took you so long.

Same-same. The Aussie's will be feeling the pinch more than the Brits. I'd be happy to see the back end of any riff-raff from any country.

[Slogger]

I'm grateful to the Immigration Police and their insistence that we have 800K Baht here before they will give us a retirement extension! Late last year I brought a pile of money into Thailand, including the 800K Baht, all at 68 Baht/£. I've still got that 800K sitting in my bank account waiting for the next renewal, and once that's done I can live on the money for the best part of 2009. So luckily I don't have to worry about exchange rates until September next year.

Of course, then when I have to bring in another pile of money, the rate will probably be 40/£... ...IF the pound is still a convertible currency...

Sorry for the deflation, but you have to bring in a fresh supply of 800,000 baht every year for your yearly retirement extensions - you are not allowed to use the same 800,000 baht year after year.

[Kerryd]

the bell will just have to stop ringing as much

Stupid n00b question: what's with the bell?? (I've visited LOS 4 times, never heard of it before.)

Most bars have a bell hanging in them. In some, when someone rings it, it means they are buying a round for everyone in the bar. In others, it means you are buying a round for the dancers (or maybe just the ones on stage at the time). Good way to run up your tab in a hurry !

I'm grateful to the Immigration Police and their insistence that we have 800K Baht here before they will give us a retirement extension! Late last year I brought a pile of money into Thailand, including the 800K Baht, all at 68 Baht/£. I've still got that 800K sitting in my bank account waiting for the next renewal, and once that's done I can live on the money for the best part of 2009. So luckily I don't have to worry about exchange rates until September next year.

Of course, then when I have to bring in another pile of money, the rate will probably be 40/£... ...IF the pound is still a convertible currency...

Sorry for the deflation, but you have to bring in a fresh supply of 800,000 baht every year for your yearly retirement extensions - you are not allowed to use the same 800,000 baht year after year.

Why not ? My understanding is that you just have to have the 800k in the bank for 3 months before applying (although my dad got his O-A last month, and didn't even have a Thai bank account !).

I don't think Immigration is asking to see your bank statements for the last year to see if you have in fact spent 800k. Just the statement from the bank verifying that you have the funds and they've been there the required time.

[DiamondJack]

Why not ? My understanding is that you just have to have the 800k in the bank for 3 months before applying (although my dad got his O-A last month, and didn't even have a Thai bank account !).

I don't think Immigration is asking to see your bank statements for the last year to see if you have in fact spent 800k. Just the statement from the bank verifying that you have the funds and they've been there the required time.

Absolutely correct.

[Lite Beer]

Why not ? My understanding is that you just have to have the 800k in the bank for 3 months before applying (although my dad got his O-A last month, and didn't even have a Thai bank account !).

The O-A Visa is issued in your home country, not in Thailand. So you would need the 800,000 in your bank in your home country. Thai bank acc. not needed.

[Kerryd]

Why not ? My understanding is that you just have to have the 800k in the bank for 3 months before applying (although my dad got his O-A last month, and didn't even have a Thai bank account !).

The O-A Visa is issued in your home country, not in Thailand. So you would need the 800,000 in your bank in your home country. Thai bank acc. not needed.

OK, that makes sense. To renew (extend) it though, he'll have to have 800k in a Thai account ?

[Hairy]

the bell will just have to stop ringing as much

Stupid n00b question: what's with the bell?? (I've visited LOS 4 times, never heard of it before.)

Were you confined to your hotel room for the duration of your visits???

Or, he may just have a natural khiiniaow gene in there somewhere that somehow filters out the bells?

Hey, how about a little benefit-of-the-doubt here?! I might've just been so drunk I just didn't remember!

[Slogger]

the bell will just have to stop ringing as much

Stupid n00b question: what's with the bell?? (I've visited LOS 4 times, never heard of it before.)

Most bars have a bell hanging in them. In some, when someone rings it, it means they are buying a round for everyone in the bar. In others, it means you are buying a round for the dancers (or maybe just the ones on stage at the time). Good way to run up your tab in a hurry !

I'm grateful to the Immigration Police and their insistence that we have 800K Baht here before they will give us a retirement extension! Late last year I brought a pile of money into Thailand, including the 800K Baht, all at 68 Baht/£. I've still got that 800K sitting in my bank account waiting for the next renewal, and once that's done I can live on the money for the best part of 2009. So luckily I don't have to worry about exchange rates until September next year.

Of course, then when I have to bring in another pile of money, the rate will probably be 40/£... ...IF the pound is still a convertible currency...

Sorry for the deflation, but you have to bring in a fresh supply of 800,000 baht every year for your yearly retirement extensions - you are not allowed to use the same 800,000 baht year after year.

Why not ? My understanding is that you just have to have the 800k in the bank for 3 months before applying (although my dad got his O-A last month, and didn't even have a Thai bank account !).

I don't think Immigration is asking to see your bank statements for the last year to see if you have in fact spent 800k. Just the statement from the bank verifying that you have the funds and they've been there the required time.

Apologies for the scare. I checked up and no, they don't ask for proof of date of transfer of funds. I submiited a FET last time and they just gave it back as not needed and the letter from the bank also does not need such a statement. I am surprised that they need either your having proof of an annual pension but there is no requiremnent of an 'annual' lump sum transfer.

[Kerryd]

Apologies for the scare. I checked up and no, they don't ask for proof of date of transfer of funds. I submiited a FET last time and they just gave it back as not needed and the letter from the bank also does not need such a statement. I am surprised that they need either your having proof of an annual pension but there is no requiremnent of an 'annual' lump sum transfer.

Had me going for a minute.

I plan on putting 800k into a term savings account and leaving it there forever (more or less). Pension in another account and pay/nest egg in a different account. If I had to keep putting a new 800k into an account, what would I do with the original 800k ? Pain in the butt to transfer 800k from one account to another, then transfer 800k from yet another account back into the original.

Of course, by the time I'm eligible for an O-A (not quite 3 years from now), the rules could change half a dozen times ! Might need twice as much, and have to have it in the account twice as long !

[Slogger]

Apologies for the scare. I checked up and no, they don't ask for proof of date of transfer of funds. I submiited a FET last time and they just gave it back as not needed and the letter from the bank also does not need such a statement. I am surprised that they need either your having proof of an annual pension but there is no requiremnent of an 'annual' lump sum transfer.

Had me going for a minute.

I plan on putting 800k into a term savings account and leaving it there forever (more or less). Pension in another account and pay/nest egg in a different account. If I had to keep putting a new 800k into an account, what would I do with the original 800k ? Pain in the butt to transfer 800k from one account to another, then transfer 800k from yet another account back into the original.

Of course, by the time I'm eligible for an O-A (not quite 3 years from now), the rules could change half a dozen times ! Might need twice as much, and have to have it in the account twice as long !

Hope it doesn't cause another scare but you should not put the amount you need for a retirement visa into a term deposit account. It should be in a savings account (preferably with a savings book - they just luuurve savings books and sometimes have problems with just statements even if verified by your bank). However I have gone for a bookless account this time as I heard they are getting used to them now. But they seem to need a SAVINGS account not a term deposit - I know it means losing interest for 3 months but I don't take the risk. The regs also stae a SAVINGS account.

[Kerryd]

Hope it doesn't cause another scare but you should not put the amount you need for a retirement visa into a term deposit account. It should be in a savings account (preferably with a savings book - they just luuurve savings books and sometimes have problems with just statements even if verified by your bank). However I have gone for a bookless account this time as I heard they are getting used to them now. But they seem to need a SAVINGS account not a term deposit - I know it means losing interest for 3 months but I don't take the risk. The regs also stae a SAVINGS account.

Shouldn't be a major problem. Once the "term" is up (and at least 3 months prior), transfer the money to the Savings account. Once the Visa is approved, put it back into another Term deposit (if available of course).

I'm not expecting to "live or die" on the interest earned in any event (probably blow it on birthday parties). At my current rate, it'd only amount to about 11,000 baht over 5 months.

Just checked exchange rates, and the Cdn $ is down to almost bang on 27/1, while the US $ is up to about 34.8/1.

Good thing I just got a raise !