Retiement Visa---Exchange Rate

[purushanti]

My understanding is that at Bangkok Immigration each morning staff are instructed as to the up-to-date exchange rate, particularly useful for those seeking "extension of non-o for purposes of retirement". The question is: what is the printed source of their up-to-date information, since there can be discrepancies in rates quoted from different sources. And is it a buy or sell figure?

As the American dollar and other currencies have continued to slide versus the bhat, this info would be helpful.

Thanks in advance.

[Maestro]

My understanding is that at Bangkok Immigration each morning staff are instructed as to the up-to-date exchange rate...

That's the first time I hear this. I have seen posts saying that the immigration officer asked the applicant what the rate was, other posts that the embassy letter stated the amount both in foreign currency and the Baht equivalent.

[peebee]

It would seem a good idea to specify in the letter the Baht equivalent and/or the exchange rate applicable on the date of the letter unless the income considerably exceeds the minimum

[jazzbo]

Thai IMM in general uses the Bangkok Bank 'buy' rate (not the more favorable BOT rate) and I would be wary about making any embellishment or changes (i.e. baht equivalent) to a Letter or else IMM may not accept it.

4-09-10 at14:15

buy sell

USD 30.38 31.03

GBP 46.62 48.19

EUR 39.09 40.32

Edited September 14, 2010 by jazzbo

[theoldgit]

My understanding is that at Bangkok Immigration each morning staff are instructed as to the up-to-date exchange rate...

That's the first time I hear this. I have seen posts saying that the immigration officer asked the applicant what the rate was, other posts that the embassy letter stated the amount both in foreign currency and the Baht equivalent.

That's certainly what's happened to me each time.

[ItDontMeanAThing]

My understanding is that at Bangkok Immigration each morning staff are instructed as to the up-to-date exchange rate...

That's the first time I hear this. I have seen posts saying that the immigration officer asked the applicant what the rate was, other posts that the embassy letter stated the amount both in foreign currency and the Baht equivalent.

They do both. Probably depends on where you apply, who processes the application and what they had for breakfast that morning.

When I went to immigration office to ask what are the requirements for a 1 year extension, the official asked what my monthly income was. I told her in USD. She asked what that was in baht, but did not give me an exchange rate to use so I picked my own. Two weeks later when I applied for the extension she pulled out a sheet with that days' exchange rates.

[jazzbo]

Be advised that for Extension based on retirement purposes at least some IMM offices -- when computing the baht to dollar rate for the 65K minimum monthly income option -- may use the Bangkok Bank US$ $1 bank note rate of (today) 28.47 vs. the US$ $100 bank note rate of 29.25 for a difference of approx. $55 on the monthly requirement in dollars ...at 28.47 the monthly requirement is $2284 per month and in my experience they will look at the numbers

Edited November 9, 2010 by jazzbo

[GuyDow]

 The letters I have been getting from the British Embassy to confirm income for retirement extensions only show the Baht amount. The officials at the  Embassy have been happy to do this and I'd rather debate exchange rates with them than with Immigration. 

Immigration have so far accepted these letters without any objections or questions.

[jazzbo]

I would agree that giving the Baht equivalent on the Income Affidavit from the US Embassy would make life easier -- but until the US Embassy in Bangkok is willing to change their standard form Letter, any changes by the Applicant on the Affidavit may be reason for rejection by Thai IMM.

[tropo]

Thai IMM in general uses the Bangkok Bank 'buy' rate (not the more favorable BOT rate) and I would be wary about making any embellishment or changes (i.e. baht equivalent) to a Letter or else IMM may not accept it.

4-09-10 at14:15

buy sell

USD 30.38 31.03

What a difference a month makes. That was a depressing exchange rate last month. I'd love to see it now.

[OJAS]

The letters I have been getting from the British Embassy to confirm income for retirement extensions only show the Baht amount. The officials at the Embassy have been happy to do this and I'd rather debate exchange rates with them than with Immigration.

Immigration have so far accepted these letters without any objections or questions.

But if Immigration notice that your Embassy letter is, say, 3 months old and that your native currency has plunged by, say, 20% against the THB in the meantime, they are bound to say something, are they not? Might not this then lead to them insisting that future Embassy income confirmation letters stating the amount in THB (rather than in your native currency) are no more than a week old, as in the case of the bank confirmation letter alternative?

[GuyDow]

The letters I have been getting from the British Embassy to confirm income for retirement extensions only show the Baht amount. The officials at the  Embassy have been happy to do this and I'd rather debate exchange rates with them than with Immigration.

Immigration have so far accepted these letters without any objections or questions.

But if Immigration notice that your Embassy letter is, say, 3 months old and that your native currency has plunged by, say, 20% against the THB in the meantime, they are bound to say something, are they not? Might not this then lead to them insisting that future Embassy income confirmation letters stating the amount in THB (rather than in your native currency) are no more than a week old, as in the case of the bank confirmation letter alternative?

Possibly, however I usually go to immigration as soon as I have the letter.  My Sterling income fluctuates from month to month therefore the figures quoted in the letter are only correct at the time the letter is issued. There is no point in either getting the letter early or hanging about once I have it.

[longball53098]

I'm thinking the reason the US affidavit of income is stated in a dollar amount is they know the exchange rate fluctuates and the day of submission of the letter may be days or weeks from the day the letter was notarized. Easier to state a dollar amount and then when the letter is used the immigration officer can make the calculation for the exchange rate in affect that day.

When I used my letter last year it was more than 3 months from the day I actually got the letter from ACS. The IO asked me what the baht amount was on the day I was applying for extension. Then they did a calculation and she looked at me and smiled and said yes that is correct and wrote that amount in Thai on the letter.

[Smokin Joe]

I'm thinking the reason the US affidavit of income is stated in a dollar amount is they know the exchange rate fluctuates and the day of submission of the letter may be days or weeks from the day the letter was notarized. Easier to state a dollar amount and then when the letter is used the immigration officer can make the calculation for the exchange rate in affect that day.

When I used my letter last year it was more than 3 months from the day I actually got the letter from ACS. The IO asked me what the baht amount was on the day I was applying for extension. Then they did a calculation and she looked at me and smiled and said yes that is correct and wrote that amount in Thai on the letter.

You can change the form the ACS provides to say anything you want. They don't care what the form says they only notarize it to verify that the signature is yours. You can make up an affidavit to say anything you want and the ACS will notarize it.

[jazzbo]

You can make up an affidavit to say anything you want and the ACS will notarize it... Negative. I tried that several years back and the US Consular Officer would not sign it because she said that the Thai IMM are used to seeing that exact format and they at Thai IMM would reject it.