Money Loan To Bil

[Lickey]

This time last year, [bht Pound 71, now 48ish] i lent BIL X amount of baht, it came from my UK bank via ATM, [no charges] he has almost paid back the the loan, and at the time of borrowing he said he would pay interest on the loan, now would that be interest at the time of borrowing, or the exg rate today, what would be fair?

Thanks for your comments, Lickey,

[ShugNorris]

That's a large currency exchange difference and not entirely fair either way. (Unless you stipulated at the start, which I assume you never since you're bringing it up here)

I think that as long as he has repaid you the original amount you withdrew in GBP you should take a compromise on the interest.

58THB !

Although, it's fair enough to just stick with the same value, since he must be repaying in Baht?

That's just my two cents worth! Might not even be worth that much

- Shug

[lannarebirth]

Nothing to think about really. exchange rates are irrelevant to interest payments. Interest would be paid based on quantity of baht you lent him last year unless stipulated otherwise.

[LivinLOS]

Did you lend him baht or GBP ?? Does he even appreciate the difference..

[Hawaiian]

Thai wife and I borrowed money from her sister to complete a real estate purchase. The funds borrowed were in baht

so they were repaid in baht. I still insisted on paying 6% interest even though none was stipulated. I computed the interest

based on the funds loaned based on the baht value. Total cost was more than anticipated because of unfavorable exchange

rate. Our marriage has been based on trust and loyalty and this has only strengthened our marriage.

However, written agreements are the only way go. My sister-in-law never asked for one even though I had offered. Must say

I married into a good family.