Baht Reaches Yearly Low

[morphious]

I just do not get it!!!!!

[loong]

I think that you mean the Baht reaches yearly high

If there is such a thing as the high season this year, More foreign money coming into the country is going to push the Baht even higher.

So don't expect any improvement in the exchange rate in the near future.

[gotlost]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

[FarangBuddha]

I think that you mean the Baht reaches yearly high

As the op stated...he doesn't get it

QE2 flooding the world with excess liquidity is already pushing up stock markets in this area and this will continue to keep demand for the baht high and thus it will continue to appreciate vis-a-vis most Western currencies.

Just glad I'm not in the tourist business that caters to Western holidaymakers.

[BB1950]

My question to the OP is who said that? In relation to what (Dollar, Euro, or Pound)?

I'm well aware of the baht to the dollar over the past year as my income comes from the dollar. It's been both higher and lower than it is now. The only thing is, the baht has lost some strength (not much) against the dollar and now seems somewhat steady.

Can't see how it's going to help Christmas at all. Last year at Christmas, the baht was much weaker than it is now.

[afarang]

Well said, farang buddha. Q.E. has meant massive capital inflows ,into Thailand, making it a much more expensive tourist destination, for particularly, Europeans. The Baht is not going to drop any time soon, against Euros, etc.. Funnily enough the AU.$ is nearly holding its own, against the Baht. But Ozzies are deserting Thailand, in their thousands ,instead choosing Bali, as their preferred holiday destination. Even for Ozzies, Thailand is too expensive. So, Thailand is looking for the Chinese ,Indians and the Russians, to make up the tourist arrivals.

[Loz]

i believe the op was referring to mr simpson jnr.

[Ulysses G.]

If Thailand is "too expensive for Australians', wouldn't it be too expensive for Chinese, Indians and Russians too?

[afarang]

No, their currencies are reasonably in sync, with Thailand.And they have the spare cash to splurge. But they are by no means, the last of the great spenders. Particularly,on those things that Westerners shell out for

[BB1950]

Let see... I've only noticed:

The Chinese spend only within their tour group. I've never seen them spend anything outside. They just seem to be more interested in watching.

The Indians haggle for a group rate, 3 for the price of 1 special.

The Russians are probably the tightest of them all. Many times, I've seen them squabble over prices at Lotus with the cashiers. Then not buy it because the cashier wouldn't negotiate. They never pay tips. Most Thais that I know, won't even serve them. One time I saw a, not to bad looking, Russian woman crying at the 7/11 on the corner of Sukhumvitt and Chiaypruek roads. She had a ton of baggage, 6 good sized bags! Apparently her Russian boyfriend asked her to come down from Bangkok, to stay with him in Jomtien. It would take 7 motorbike taxis to haul her and all the bags. However, no one would pay the 150 baht for a baht bus (it's not close to any route). I finally gave up and flagged down a bus for her, going back to Bangkok. Then told the driver where to drop her off. Something I'll never forget.

So tell me again... How is this going to be a good high season this year?

Edited December 1, 2010 by BB1950

[Xircal]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

Add to that the 150 Baht ATM surcharge plus what the customer's own bank hikes on top of that (my own bank charges me 1% of the sum withdrawn) and you're looking at nine Euros in bank charges for every 20,000 Baht withdrawal.

What's also interesting is that Bangkok Bank used to allow you to withdraw 25,000 Baht maximum, but has now reduced that to 22,500 Baht. But if you choose to withdraw that amount, you get the whole sum in 500 Baht notes. I don't quite understand the logic of that somehow.

[saraburioz]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

Excellent - there's too bloody many farang here these days. Maybe this will get rid of some of them.

My family are going to Europe this xmas so good news I guess.

[Livinginexile]

Well said, farang buddha. Q.E. has meant massive capital inflows ,into Thailand, making it a much more expensive tourist destination, for particularly, Europeans. The Baht is not going to drop any time soon, against Euros, etc.. Funnily enough the AU.$ is nearly holding its own, against the Baht. But Ozzies are deserting Thailand, in their thousands ,instead choosing Bali, as their preferred holiday destination. Even for Ozzies, Thailand is too expensive. So, Thailand is looking for the Chinese ,Indians and the Russians, to make up the tourist arrivals.

Or....Thailand finaly upgrades to a better class of tourists instead of desperate pensioners and backpackers

[elliss]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

it.s going to get rid of the cheap charlies in thailand .

bye :jap:

[IanForbes]

If you worry about 3 or 4 extra baht for a dollar then maybe it's best to stay home and let us freeloaders enjoy our stay in our $140 a month Thai hotels. I spend more than that each month for cable TV and internet back home. Oh, and our 30 baht Thai meals are really going to hurt us old pensioners.

[gregb]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

it.s going to get rid of the cheap charlies in thailand .

bye :jap:

Keep dreaming.

It will just make us bitch louder.

[gk10002000]

If you worry about 3 or 4 extra baht for a dollar then maybe it's best to stay home and let us freeloaders enjoy our stay in our $140 a month Thai hotels. I spend more than that each month for cable TV and internet back home. Oh, and our 30 baht Thai meals are really going to hurt us old pensioners.

3 or 4 baht per dollar, when the Thai baht is about 30 baht per dollar, equates to a 10% reduction in buying power. There is a point where percentages and absolute amounts matter. In 2004, on my first trip to Thailand, we got about 44 Baht per one dollar. Now it is 30 Baht per dollar.

I hardly think the Baht going from 44 down to 30 is not an issue. That rate reduction certainly excedes any cost of living increase for any fixed pension I am aware of.

[morphious]

I think that you mean the Baht reaches yearly high

If there is such a thing as the high season this year, More foreign money coming into the country is going to push the Baht even higher.

So don't expect any improvement in the exchange rate in the near future.

Sorry everyone i meant the pound to the baht, Spannky bot bot for me i always presume everyone is thinking GBP bearing in mind my avatar gives a clue or seven.

Anyway good comments but really,............. i still dont get it. :jap:

[morphious]

Any way when the wife winges about the street vendors making up there prices on a daily basis never mind the bars, supermarkets and fuel stations i know then its getting rediculous,(wife thinks in pounds in case anyone asks ) so 46.7 return at the art shop this morning, we still do not see why there is such a massive change over the last 2/3 years, did Arnold Swartzaneeger come to town with his Terminators looking for Sarah Connor????????

P.s........ ill be back

[Ulysses G.]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

it.s going to get rid of the cheap charlies in thailand .

bye :jap:

Keep dreaming.

It will just make us bitch louder.

[chops]

a lot of the cheap charlie Europeans will be cleaned out when the Euro fetches 30 baht. time to think about heading home...

[gotlost]

Bank of Bangkok at 1530 hrs. 29.70 USD 46.20 GBP 38.69 EUR. This is going to bring in tourist? I dont thank so.

Add to that the 150 Baht ATM surcharge plus what the customer's own bank hikes on top of that (my own bank charges me 1% of the sum withdrawn) and you're looking at nine Euros in bank charges for every 20,000 Baht withdrawal.

What's also interesting is that Bangkok Bank used to allow you to withdraw 25,000 Baht maximum, but has now reduced that to 22,500 Baht. But if you choose to withdraw that amount, you get the whole sum in 500 Baht notes. I don't quite understand the logic of that somehow.

I still get 25,000 baht plus per transaction.In thousands.

[thaimate]

Talking about cheap Chinese, i went to the loo the other day (3 baht) my wife was talking to the girl taking the money and she said that the chinese tourists are so tight they will not pay or try to pay 1 baht ,she had no time for them

On my wife asking about the Russians ,her reply was oh all westerners look alike i cant tell the differance

[meom]

If you worry about 3 or 4 extra baht for a dollar then maybe it's best to stay home and let us freeloaders enjoy our stay in our $140 a month Thai hotels.

$140 a month for a Thai hotel sounds good.Does it include breakfast?

[ozzieovaseas]

If you worry about 3 or 4 extra baht for a dollar then maybe it's best to stay home and let us freeloaders enjoy our stay in our $140 a month Thai hotels.

$140 a month for a Thai hotel sounds good.Does it include breakfast?

:cheesy:

I presume you are joking..good one!

if not, no...and i think Ian is talking about guest house style/ basic appartment accomodation...no room service either at that price!

[billd766]

On 9th December last year the Kbak TT rate was a fraction over 54 baht to the GBP.

Today it was 46.57 about 14% down in a year.

Painful but to me survivable though I have cut back on a lot of things.

[morphious]

On 9th December last year the Kbak TT rate was a fraction over 54 baht to the GBP.

Today it was 46.57 about 14% down in a year.

Painful but to me survivable though I have cut back on a lot of things.

Me too, i do miss cheese

[loong]

Apart from cheese, I just don't understand why imported goods are more expensive or the same price at best.

The strong Baht should mean that imported goods are cheaper ????

[Northpoint]

If Thailand is "too expensive for Australians', wouldn't it be too expensive for Chinese, Indians and Russians too?

Bali is only a very short distance by plane from Darwin, Australia. Believe me , Bali is still a fantastic place for tourists and expats. I have been visiting there for the last 30 years.

[morphious]

If Thailand is "too expensive for Australians', wouldn't it be too expensive for Chinese, Indians and Russians too?

Bali is only a very short distance by plane from Darwin, Australia. Believe me , Bali is still a fantastic place for tourists and expats. I have been visiting there for the last 30 years.

Agreed