Making Profit From Baht To Euro

[thalassa2006]

Can anyone help

is it the right time to change all my Thai baht into a Euro account let said i put 2 million baht into a euro deposit account and when the Euro go back to 49 baht i will make some money for myself but there again maybe is not the best option

can you guide me as i am not a expert ..

Thalassa

[Pib]

Sounds like a way to make a nice profit except for the assumption the Euro will go back to 49 Baht anytime soon (or in your long lifetime).

[CMSteve]

Sounds like a way to make a nice profit except for the assumption the Euro will go back to 49 Baht anytime soon (or in your long lifetime).

Agreed.

just a suggestion. Do your research first. just because the Euro is lower than previous, does not mean it'll go back up or stabilize in any way. In fact, unless Thailand chooses to peg its currency and stop the float, we could see the euro exchange dropping much further. Of course, if that happens thailand and us, will have to deal with mass inflation here. You may even consider playing the USD/EUR and keeping baht as a hedge. In any case, don't take anything we post as gospel. Do your own research and do what seems right to you.

Edited May 14, 2010 by CMSteve

[CWMcMurray]

Thats the million dollar question... where with the EUR go... if it went to 49, you would make a bundle... if it went to 30, then you would loose a bundle...

I am still waiting for the USD to go hack to 40 per THB

[jombom]

My view is better to do some more research, and when you think the euro has reached it's low, then convert your baht to euro. Some pundits think 38 will be the LOW figure.

From looking at Thai exchange rate control under different administrations, my take is that the baht will remain strong while the present government is in power. For some peculiar reason, they are tracking the US Dollar, and ignoring other factors.

[Pib]

I am still waiting for the USD to go hack to 40 per THB

Me too...that would be nice...but if I had to bet some of my own money I would bet we will never see 40 baht/dollar again barring a extremely bad and unexpected financial/political event in Thailand (something much bigger than the ongoing current red shirt event/protests). In fact, in another year or so we may be remembering the good ol' days when we got 30 baht to the dollar. Gotta go...I want to day dream a little about the past 40Baht/1USD days.

[thainet]

You guys are obviously dreamers. The EURO will be lucky if it's a currency in the very near future (if Germany and France refuse to back it) then it's all over. When the EURO goes then the Dollar also tanks as it has no use as a mirror currency anymore. Hold Baht by all means because it'll probably be worth more in the long run (but Gold will be worth the most from now until doomsday). thanks.

[Pib]

If both the Euro and USD tank all currencies (i.e., paper money) will tank. I guess we could all go back to just bartering for things. Just to play it safe, I'm going to stock up on bottles of beer in case I need to start bartering for food; I just hope temptation don't result in me ending up with a bunch of "empty" beer bottles come bartering time.

[hhgz]

Not too long ago, the THB had "on shore" and "off shore" rates. Many TVers thought that it would be easy money to buy and sell quickly. Heck, "if PhD's with computers and stuff can make money with arbitrage, I can certainly do it without either the expertise or technical support". Oh, it was a pot of gold just waiting for them. Despite their attempts, 100% of them did not make money - there was a difference between "theory" and "reality". Reality set in when they realized they had less than they had planned. FOREX trading might not be on the same level as arbitrage but...tread wisely.

[up-country_sinclair]

I am still waiting for the USD to go hack to 40 per THB

You and me both, brother.

You and me both.

I've got dollars I've been waiting to exchange for the last two years, but just can't stomach the current rates. On many days I wish I had pulled the trigger last year when it went to 36, but I was holding out for 38.

Edited May 15, 2010 by up-country_sinclair