Thai Baht Exchange Rates

[TacoBoy]

As the THB - USD exchange rate approaces 31.0 THB to One USD. ( a recent depreciation of the THB's value of about 1.0 baht from 30.0 and less ).

For every fluctuation of the Thai Currency of 1 THB, the exchange of Euro's, Pounds, and Dollars changes by 100 per every 100 of exchanged currency. Or a increase or decrese of 1,000 Baht for every Thousand Dollars, Euros, or Pounds.

I hope this is the end of a too strong THB.

Edited January 25, 2011 by TacoBoy

[Jingthing]

Why is it happening? Free market or a government scheme?

[crazygreg44]

Not at all. For a few days straight, the Euro is gaining against the US Dollar, thus winning against the Thai Baht. The US Dollars gains against the Thai Baht in the same period have been marginal. Nothing changed in Thai government or financial situation.

[pomchop]

In other words dollars are now worth about 3.3 % more Thai baht at 31 then they were at 30......i'm hoping for 33 baht/dollar which would be a nice 10% increase in buying power...

[sceadugenga]

The Thai baht is stable, and has been for years, it's the USD that fluctuates.

You get a bad day on Wall Street and watch it drop below 30 again.

[pomchop]

The Thai baht is stable, and has been for years, it's the USD that fluctuates.

You get a bad day on Wall Street and watch it drop below 30 again.

The tide comes in, the tide goes out.

[mcgriffith]

A few other factors to consider.

Political risk is back in the SET with the TPN/PAD/Santi Asoke demonstration at Gov't House.

US equity markets are improving; some money being pulled out of emerging markets such as Thailand, Indonesia, Phillipines and sent home.

China tightening monetary policy bodes ill for Thailand as China has become a major importer and trade partner of ASEAN nations in the last few years. Tightening means less trade and foreign direct investment with Thailand.

EU is the second largest trading partner of Thailand, and is in way worse shape than the various EU politicos want to let on. It has affected Thai exports to the EU. Less euros being converted to THB means a weakening THB vs. EUR.

Thailand's single biggest export is rice. Rice price in USD terms down this year, after the high base of last year.

Enough. You get the picture- it's a very complex and multi-faceted issue when we talk about currency exchange rates.

To make this Chiang Rai relevant- so what exchange rate are YOU getting in Chiang Rai?

[sceadugenga]

I rarely look Macca, I'm on fixed income so I'm interested in what's left at the end of the month but have little control over it.

When the USD is weak I get more baht for my AUD.

Most of the time anyway.

[TacoBoy]

It is relevant to Chiang Rai when I look at the increase in my buying power by 1 baht exchange equates to Two more Leo Beers I can have per 100 of my foreign currency

Or buy a case or two at the local liquor market for every 1,000 of my currency

We do not get that prime rate as posted, but if it goes up by 1 baht, then I see the 1 baht difference in my foreign exchange and I am a Happier Camper :jap:

[mcgriffith]

Ah well, as I am not exactly in the Warren Buffet investment category, I can appreciate that Taco Boy.

Seems like the THB is weakening to the 30.90/31 USD level short term.

I guesstimate that this might be a good time to move money here, if you have any to move, as the long term trend is a down USD. But who knows?

Predicting currency trends is a fool's game. Just too complex, and based on so many things we simple folk don't get to see. I stick to equities and bonds, where I can at least look at fundamentals and a bit of charting, when trying to read the tea leaves.:jap:

[sunholidaysun1]

Its such a shame when you look at the individual who would like to make a few quid on any money markets,but sadly the amount of money you would like to invest is no where near the amount you would like to have( we all dream).

So basically what ever money you have, its no where near the amount to make any difference to either yourself or the money market , so better to keep quiet or others will think you have bugger all.

[ginooooo]

Good luck and bad luck. 2 years ago when we went, we got about a little over 34. Had to send about 330,000 baht over there when the baht was at it's lowest. I got about 29.64 per dollar. Sucked. At least this trip, hopefully next month 31. Does not seem like much but huge amounts sure do. Sure miss those 40 bht for a dollar now. But during Vietnam, it was 20 for a dollar.

[SantiSuk]

In the last week or so money has been flowing out of Thailand. US investors in particular are getting confident about their weak recovery and have less need of higher (perceived) risk assets so there has been a sell off of equities ion SET and Thai bonds. Money flow tends to impact the exchange rate. It suits the Thai government to see the baht depreciate for the time being.

Short term we may see further weakening of the baht. IMO in the medium term (and maybe medium is only a month or so away) this is likely to reverse provided that comparative growth rates substantially favour Asia. If the baht drops to 34ish (GBP£ 50+) it would be worth bringing over your currency for say 6 months spending or more - it won't last. Just one view (but I did get it right last year when the baht briefly touched 50 i brought in 4 months of living expenses and benefitted while the baht slumped to close on 45). I have always followed an investment maxim - 'see something you really like, buy it, don't sit around hoping it will get cheaper tomorrow'.

[pomchop]

Good luck and bad luck. 2 years ago when we went, we got about a little over 34. Had to send about 330,000 baht over there when the baht was at it's lowest. I got about 29.64 per dollar. Sucked. At least this trip, hopefully next month 31. Does not seem like much but huge amounts sure do. Sure miss those 40 bht for a dollar now. But during Vietnam, it was 20 for a dollar.

From 1956 until 1973, the baht was pegged to the U.S. dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978. A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until July 2, 1997, when the country was stung by the Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It has since risen to about 30 per dollar.

ah for the days of 56 baht to the buck in January 1998....shoulda, coulda, woulda...but didn't...

[TacoBoy]

I do not advocate money trading. However; I do have to exchange my overseas finances to THB for living expenses.

The THB has fluctuated from 25 to 56 baht per USD during the last 14 years.

Do not forget the Asian Financial crisis started in Thailand in 1997.

The BOT recently supported a stronger THB, but today changes to support the weakening THB to spur exports

No one really knows the future of any money market. It is all speculation.

I am just happy if the THB weakens and I can buy more Leo for my money

The point of this post was to give an idea of how much a 1 baht difference in exchange rates will effect a persons purchasing power.

Edited January 26, 2011 by TacoBoy

[bifftastic]

well, I've certainly noticed it. I've been sending money over the last four or five months for my house purchase. Originally calculated when it was around 50 baht to the pound, then it dropped down to the 45's which has increased the price by 10%, less beer and more work for me! Final payment is in the electronic banking system as I type this and the rate has climbed a little, hoping for another little 'bump' up nearer to the 50baht/pound this week.

Might not be in the forex trading kinda amounts but it certainly has affected me adversely.

[jubby]

well, I've certainly noticed it. I've been sending money over the last four or five months for my house purchase. Originally calculated when it was around 50 baht to the pound, then it dropped down to the 45's which has increased the price by 10%, less beer and more work for me! Final payment is in the electronic banking system as I type this and the rate has climbed a little, hoping for another little 'bump' up nearer to the 50baht/pound this week.

Might not be in the forex trading kinda amounts but it certainly has affected me adversely.

Don't expect it to climb much in the short term with all the good news coming out of the UK economy

........ Oh, Look the pounds on its way down and its only wednesday

[woralak]

well, I've certainly noticed it. I've been sending money over the last four or five months for my house purchase. Originally calculated when it was around 50 baht to the pound, then it dropped down to the 45's which has increased the price by 10%, less beer and more work for me! Final payment is in the electronic banking system as I type this and the rate has climbed a little, hoping for another little 'bump' up nearer to the 50baht/pound this week.

Might not be in the forex trading kinda amounts but it certainly has affected me adversely.

Don't expect it to climb much in the short term with all the good news coming out of the UK economy

........ Oh, Look the pounds on its way down and its only wednesday

Now then Jubbs ya gotta stay positive,if and when it reaches 50 I'm gonna cash in,get it while ya can bonny lad.

[jubby]

I am positive Marra. Positive its on its way down again.

I can see it in real time in front of me.

[bifftastic]

well, I've certainly noticed it. I've been sending money over the last four or five months for my house purchase. Originally calculated when it was around 50 baht to the pound, then it dropped down to the 45's which has increased the price by 10%, less beer and more work for me! Final payment is in the electronic banking system as I type this and the rate has climbed a little, hoping for another little 'bump' up nearer to the 50baht/pound this week.

Might not be in the forex trading kinda amounts but it certainly has affected me adversely.

Don't expect it to climb much in the short term with all the good news coming out of the UK economy

........ Oh, Look the pounds on its way down and its only wednesday

I know, I'll catch the trough, I always do!

Just one week of ladders and no snakes would be great!

[sceadugenga]

So does anyone have a preferred money changer?

I have a regular visitor who insists on checking them all out when he's here but there's rarely a lot in it. Maybe 10 satang.

[motdaeng]

So does anyone have a preferred money changer?

I have a regular visitor who insists on checking them all out when he's here but there's rarely a lot in it. Maybe 10 satang.

hello sceadugenga

have a look at this, www.......

bankexchangerates.daytodaydata.net/default.aspx

bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Exchange/FX%20Rates/Pages/Default.aspx

google.com/finance?q=AUDTHB

[sceadugenga]

Yes, but that's a day to day rate which I'm not disputing changes substantially.

I was wondering about different banks having a different rate on the same day.

[TacoBoy]

Day's Range:30.89 - 31.12

THB finally trading above 31.00

As of this posting is hovering above 31.00 for the first time in quite a while at about 31.10.

Praying it will stay there or higher at the close of trading before the weekend and into the first days of the new month

Papa needs some new Golf Clubs and more Leo Beer

Mama wants new shoes too preferably Stilleto Cut Shoes IMO

[mcgriffith]

Hard to compare the various Thai banks current day; the BOT uses an average of all of them here.

But it is an average of the prior day's rate.

Here in CM we have a money lender/currency trader who I understand offers a tick or two above the Thai bank rate for customers buying baht with foreign currencies.

Never been there, but quite popular with local long timers who seem to deal mostly in cash.

They are on Charoen Prathet Road, just up from the iron bridge, east (river) side. Thai Indian owners.

I know this is of little use for Chiang Rai residents, but thought it might be helpful nonetheless.

[sceadugenga]

Of even less use, back in the day, I was in Krung Thep and a mate took me to Chinatown. We went into some sort of small bank/Credit union with no signs outside, went up stairs and changed money at what, if my memory serves me correctly, was about half a baht better than Sukhumvit rate.

I doubt it paid for the taxi there and back but it was still an interesting trip.

[bifftastic]

well, I've certainly noticed it. I've been sending money over the last four or five months for my house purchase. Originally calculated when it was around 50 baht to the pound, then it dropped down to the 45's which has increased the price by 10%, less beer and more work for me! Final payment is in the electronic banking system as I type this and the rate has climbed a little, hoping for another little 'bump' up nearer to the 50baht/pound this week.

Might not be in the forex trading kinda amounts but it certainly has affected me adversely.

Don't expect it to climb much in the short term with all the good news coming out of the UK economy

........ Oh, Look the pounds on its way down and its only wednesday

I know, I'll catch the trough, I always do!

Just one week of ladders and no snakes would be great!

Well, I may have actually caught a ladder! Seems that just as my final transfer for the house money is on it's way the pound is around the 49 baht mark!

Happy days.

Now I hope it stays that way while I save for the wedding, more about that in the Chiang Rai forum soon

[TacoBoy]

I find I get a decent rate plus or minus a few satong from Thai Farmers Bank, TMB, and Bangkok Bank. If anyone knows a bank in the Rai that does'nt charge the 150 interational change rate, that would be better. Probably a smaller bank that is not part of the major Thai Banking conglomorates.

I actually have not seen the 150 baht posted to my withdrawls. but then, the fees may be hidden in the exchange rates, or my bank which does not pay (which I doubt).

As of 1pm trading time New York, the rate of THB per USD stannds at 31.04. Anything above 31.00 seems to be a milestone and break point.

Edited January 28, 2011 by TacoBoy

[ginooooo]

I find I get a decent rate plus or minus a few satong from Thai Farmers Bank, TMB, and Bangkok Bank. If anyone knows a bank in the Rai that does'nt charge the 150 interational change rate, that would be better. Probably a smaller bank that is not part of the major Thai Banking conglomorates.

I actually have not seen the 150 baht posted to my withdrawls. but then, the fees may be hidden in the exchange rates, or my bank which does not pay (which I doubt).

As of 1pm trading time New York, the rate of THB per USD stannds at 31.04. Anything above 31.00 seems to be a milestone and break point.

Every little bit helps and the dollar sucks against the Euro but ever since the SnP downgraded the Japanese rating, the dollar gained a lot against the yen and baht.

[sceadugenga]

I find I get a decent rate plus or minus a few satong from Thai Farmers Bank, TMB, and Bangkok Bank. If anyone knows a bank in the Rai that does'nt charge the 150 interational change rate, that would be better. Probably a smaller bank that is not part of the major Thai Banking conglomorates.

I actually have not seen the 150 baht posted to my withdrawls. but then, the fees may be hidden in the exchange rates, or my bank which does not pay (which I doubt).

As of 1pm trading time New York, the rate of THB per USD stannds at 31.04. Anything above 31.00 seems to be a milestone and break point.

We've discussed this before, but if you're talking about the 150B fee for an ATM withdrawal, the AEON machines don't charge it.

There's a selection near their office next to TOP supermarket. (The one over near the King Mengrai statue).

Edited January 29, 2011 by sceadugenga