GBP to THB Exchange Rate

[Throatwobbler]

By the way I got bored of reading this thread because of the constant bickering between people. Is there a single TV thread that does not resort into name calling etc.

]

I know. I started this thread because I was in a very similar situation to you and needed a bit of advice - to go with the advice I get from other sources of course - in order to get a basic understanding of the current situation regarding GBP/THB exchange rate. Some people who genuinely know more than me, and some who just think they know a lot find it difficult to stop themselves scoffing at others' opinions or questions. Don't worry about it. Sometimes it just comes down to how a person phrases their answer - a question of style rather than substance.

As for you situation, what I've gathered over the month or so I've been following this exchange rate is that if you are holding GBP then you should avoid trying to buy Baht for at least the next few months. If you simply have to buy baht, then look out for spikes in the rate (which may last less than a day), and be ready to go online or get down to the bank at short notice to do the transfer. But since the trend of the exchange rate is continuing downwards, spikes will not see rises to anywhere near the level of a month ago ie even the spikes will trend downwards.

If you want a better exchange rate than a direct transfer from a GBP account in the UK to a THB account in Thailand, open a foreign currency account with a Thai bank in Thailand and move the money there first from the UK, then you get the TT rate, which is better than the 'retail' rate you'd get otherwise.

You might get an even better rate contacting market traders directly, but I know nothing about how this is done. Maybe you could ask more experienced people here how to do that, but the feeling I get is that those who do best with this kind of thing are loath to give away their secrets, with the exception of Fletchsmile, who I think seems to have contributed handsomely to debates surrounding this and related topics.

Thank you. I think I will go to talk to Bangkok bank about a foreign currency account. At least see what they have to say.

[mccw]

In case you ^ missed it between all the "bickering" I think naam gave the best advice on this topic a week or so ago. That is to make the transfer in sterling and then when it arrives at your normal Bangkok bank branch they will call you to confirm and offer you a rate. Depending on the size of your transfer amount you can negotiate the rate a little sweeter by a few .points or you can target a rate over the next 4weeks from the date it arrives, ie they hold the sterling and you can call them back on a good rate day / time for change.

[mccw]

I just transferred 30k by they above way; my view is anything over 47 is ok but will try negotiate up around 47.5-48. It should arrive Friday or Monday I suppose. Will report back how it went next week.

On the macro side; the risks of carney firing up the ellectronic presses is such I'd rather not wait in hope of blips up a point or two.

[Naam]

I just transferred 30k by they above way; my view is anything over 47 is ok but will try negotiate up around 47.5-48. It should arrive Friday or Monday I suppose. Will report back how it went next week.

On the macro side; the risks of carney firing up the ellectronic presses is such I'd rather not wait in hope of blips up a point or two.

"47.5-48" is too optimistic based on the present ~46.40

[Thailand1977]

By the way I got bored of reading this thread because of the constant bickering between people. Is there a single TV thread that does not resort into name calling etc.

British economy is a contentious issue, us capitalists are angry about the kind of socialism that is going on.

But amongst all that bickering is why the pound is losing value, and why the future doesn't look too bright for it.

Edited February 13, 2013 by Thailand1977

[meatboy]

I just transferred 30k by they above way; my view is anything over 47 is ok but will try negotiate up around 47.5-48. It should arrive Friday or Monday I suppose. Will report back how it went next week.

On the macro side; the risks of carney firing up the ellectronic presses is such I'd rather not wait in hope of blips up a point or two.

"47.5-48" is too optimistic based on the present ~46.40

you will be lucky to get 46.50.see my post 73.

throatwobbler it is very difficult to understand the thai market i have been trying since 1989.

as you say you have a substancial amount,first do you need it or are you looking for that bit extra living exs.from the interest.

as the savings rates uk.and offshore are rubbish,do you intend to live here for a long time,we just trans.£100k into a fair thai 13month fixed rate 3.30%.at the moment there is not a good rate at any of the banks you have to be lucky to see any promotion rate as they mostly adv.in their branches.if i had another large amount i would get it trans.to my thai acc. sent in sterling by swift trans.i use royworld express less than 24hrs.£27.you must state where you got the money from and what its for otherwise it could be sent back to the uk.the ex.rates TT are not that good but who knows whats instore.there are a few short term fixed rates so if something better comes along you can always take it out,to give you some idea of the rates of interest the last 3yrs.3.78 is the best we have had,we have one maturing in sep.555days av.3.68% so dont expect too much.you will be kept up to date in the bank interest forum good luck.

[wordchild]

I just transferred 30k by they above way; my view is anything over 47 is ok but will try negotiate up around 47.5-48. It should arrive Friday or Monday I suppose. Will report back how it went next week.

On the macro side; the risks of carney firing up the ellectronic presses is such I'd rather not wait in hope of blips up a point or two.

There is always a little scope to negotiate; for a reasonable amount, the bank will usually improve slightly on its officicial TT rate, maybe 0.07 to 0.1 and, for a significant transfer, ie 500k plus you may do even better. But, in the end, the market is what it is; right now, on Bloomberg, the pound /baht (GBPTHB) is trading, in the forex market, at 46.2758 to 46.3128, ie you can sell pounds at 46.2758 and buy pounds at 46.3128. This , if you like, is the wholesale market rate, the rate banks trade with each other, the rate you get as a retail customer will (nearly) always be poorer than that. The bank is not going to buy pounds from you at a higher price than it could be selling pounds to someone else! Edited February 14, 2013 by wordchild

[chris2004]

The Kasikorn TT rate has now dropped into the 45s. Nice Valentine present. By the time you have paid transfer fees at both ends you'll be lucky to get much more than 45.

[Naam]

The Kasikorn TT rate has now dropped into the 45s. Nice Valentine present. By the time you have paid transfer fees at both ends you'll be lucky to get much more than 45.

Siam Commercial 45.9775

[meatboy]

The Kasikorn TT rate has now dropped into the 45s. Nice Valentine present. By the time you have paid transfer fees at both ends you'll be lucky to get much more than 45.

Siam Commercial 45.9775

now the sht is hitting the pan,bkkb.45.92TT.

ROLL UP ROLL UP BHT FOR SALE

[Throatwobbler]

Hi. I'd just like to say thank you to everyone for all the advice. Very much appreciated.

[phutoie2]

My neighbour used his UK credit card to fill up his car fuel tank a few days ago and ex rate 45.02 THB.

[yoshiwara]

A friend has just bought some pounds with his baht as he wanted to send money back to the UK, so he is quite happy.

[chiang mai]

I see this morning that GBP/USD is now at 1.55, GBP/THB might just get ugly real soon, for those Pound holders wanting that third world currency that is.

[thenervoussurgeon]

I see this morning that GBP/USD is now at 1.55, GBP/THB might just get ugly real soon, for those Pound holders wanting that third world currency that is.

I should think most of us hold both currencies,dont ya think

[chiang mai]

I see this morning that GBP/USD is now at 1.55, GBP/THB might just get ugly real soon, for those Pound holders wanting that third world currency that is.

I should think most of us hold both currencies,dont ya think

Indeed, but there are still those who refuse to convert their GBP into THB or other currencies and who have to make transfers twice a year or so, it's those guys and the fixed GBP income guys who will get hurt from this.

[Naam]

I see this morning that GBP/USD is now at 1.55, GBP/THB might just get ugly real soon, for those Pound holders wanting that third world currency that is.

I should think most of us hold both currencies,dont ya think

Indeed, but there are still those who refuse to convert their GBP into THB or other currencies and who have to make transfers twice a year or so, it's those guys and the fixed GBP income guys who will get hurt from this.

unfortunately some of them (e.g. pensioners) don't have the possibility to switch into other currencies.

[Thailand1977]

So predictions for the week ahead with a little bit of reasoning behind it, ive got 8K Euro and 30K USD that i'm converting to Pounds to be spent on an overpriced "Slave box" sometime in the next 12 months .... i've had 1.53 to the USD in my mind for too long now and its getting very close. And i'm more then happy with 1.16 Vs the Euro.

All these currencies are as bad as the next one (Euro the worst in the long term imho), just it seems to be Sterling time for the markets to have a go at it.

What it does Vs these will determine what it does vs the BHT.

[Krataiboy]

The writing has been on the wall for a while. For example . . .

The Guardian, January 23:

Economists believe that policymakers in the UK are still talking down sterling but that getting the slide to happen without undue haste was crucial. If sterling keeps falling at its current pace then Cook predicts a "slow crisis". But a sudden fall of 5% or 6% from current levels of $1.5860 and €1.19 (to $1.49 and €1.11) could be a cause for alarm. A currency price of €1.19 is the equivalent to around 84p to the euro.

The pound is not just tanking against the baht, but against most currencies. The opposite happens to be true for the baht.

Confidence and foreign investment are flowing out of the UK (even the City brothel is looking less appealing to its international patrons, faced with at least some regulation of their more excessive behaviour) and into expanding economies - such as Thailand.

Sterling has lost the Battle of the Uglies against the Euro and the US dollar and is rapidly losing its reputation as a safe haven.

That's why the pound is being allowed to plummet. If this ploy fails to bring a much-needed boost to the ailing UK economy, the next step will be an official overnight devaluation.

This would mean losing not merely a couple of baht off your pound over a few weeks, but probably ten or 15 percent of its value at a stroke.

And this is one asteroid you won't see coming - because it will happen over a weekend or during a bank holiday, to ensure savers can't withdraw their money before a big chunk of it is stolen. (If we did, of course, the banks we've already bailed out once would be back with the begging bowl!}

I reckon Easter could be particularly memorable this year.

[chiang mai]

The writing has been on the wall for a while. For example . . .

The Guardian, January 23:

Economists believe that policymakers in the UK are still talking down sterling but that getting the slide to happen without undue haste was crucial. If sterling keeps falling at its current pace then Cook predicts a "slow crisis". But a sudden fall of 5% or 6% from current levels of $1.5860 and €1.19 (to $1.49 and €1.11) could be a cause for alarm. A currency price of €1.19 is the equivalent to around 84p to the euro.

The pound is not just tanking against the baht, but against most currencies. The opposite happens to be true for the baht.

Confidence and foreign investment are flowing out of the UK (even the City brothel is looking less appealing to its international patrons, faced with at least some regulation of their more excessive behaviour) and into expanding economies - such as Thailand.

Sterling has lost the Battle of the Uglies against the Euro and the US dollar and is rapidly losing its reputation as a safe haven.

That's why the pound is being allowed to plummet. If this ploy fails to bring a much-needed boost to the ailing UK economy, the next step will be an official overnight devaluation.

This would mean losing not merely a couple of baht off your pound over a few weeks, but probably ten or 15 percent of its value at a stroke.

And this is one asteroid you won't see coming - because it will happen over a weekend or during a bank holiday, to ensure savers can't withdraw their money before a big chunk of it is stolen. (If we did, of course, the banks we've already bailed out once would be back with the begging bowl!}

I reckon Easter could be particularly memorable this year.

Can you post a link for that, I was looking for it and couldn't see it, I wanted to see who the author was and the context?

[churchill]

Good news for those who invested in Thailand when the Baht was 65 + ...

[chiang mai]

Good news for those who invested in Thailand when the Baht was 65 + ...

but less so for fixed income pensioners, scary.

[churchill]

Good news for those who invested in Thailand when the Baht was 65 + ...

but less so for fixed income pensioners, scary.

Seems a weak pound will encourage more expats to go home and take advantage of an increased pension , NHS , housing and other benefits .. which will further weaken GBP ..

[mommysboy]

A common theme over the years, very often voiced by OAPs, has been about the decline of GB as a great industrial nation. I suppose it is ironic that it should happen this way, but one crumb of comfort will be the rebalancing of the economy and the remergence of UK as a powerhouse of sorts, well perhaps. Who knows we might all end up back there supplementing our meagre earnings with a job on the assembly line; that'll be nice won't it?

[Thailand1977]

Sterling has lost the Battle of the Uglies against the Euro and the US dollar and is rapidly losing its reputation as a safe haven.

That's why the pound is being allowed to plummet. If this ploy fails to bring a much-needed boost to the ailing UK economy, the next step will be an official overnight devaluation.

This would mean losing not merely a couple of baht off your pound over a few weeks, but probably ten or 15 percent of its value at a stroke.

And this is one asteroid you won't see coming - because it will happen over a weekend or during a bank holiday, to ensure savers can't withdraw their money before a big chunk of it is stolen. (If we did, of course, the banks we've already bailed out once would be back with the begging bowl!}

I reckon Easter could be particularly memorable this year.

Strengthening Euro will be working wonders for all those Southern European nations, this article is just jumping on the bandwagon.

As crap as the UK economy is with the govt borrowing and spending like a drunken sailor, the Southern European economies are in a far worse position, and US debt, borrowing and printing is far greater then UK plc.

The only people benefiting from the Euro at this level are the Germans, as if they had the Deutsche Mark back it'd be a far stronger currency thus would affect their exports .... when such a scenario happens they'll need to export these jobs to places like Portugal, Italy, Ireland Greece and Spain to remain profitable ... the irony!

Somalia has a weak currency yet their exports are pretty much non existent, Britain will need a lot more then a weak currency before it can create an export market ... and it isn't going to happen with huge taxation needed to prop up govt spending on propping up the property market, and the endless laws, rules and regulations people and business currently has stifling them.

And it just isn't going to happen with the current EU stooges from Oxbridge running the show.

Edited February 19, 2013 by Thailand1977

[exeter]

Good news for those who invested in Thailand when the Baht was 65 + ...

but less so for fixed income pensioners, scary.

Seems a weak pound will encourage more expats to go home and take advantage of an increased pension , NHS , housing and other benefits .. which will further weaken GBP ..

Like sharia law perhaps? Not sure if thats a benefit, life without a bacon sandwich/roll ( or for our euro chums)/ baggette would make me think twice about moving back.

[exeter]

Sterling has lost the Battle of the Uglies against the Euro and the US dollar and is rapidly losing its reputation as a safe haven.

That's why the pound is being allowed to plummet. If this ploy fails to bring a much-needed boost to the ailing UK economy, the next step will be an official overnight devaluation.

This would mean losing not merely a couple of baht off your pound over a few weeks, but probably ten or 15 percent of its value at a stroke.

And this is one asteroid you won't see coming - because it will happen over a weekend or during a bank holiday, to ensure savers can't withdraw their money before a big chunk of it is stolen. (If we did, of course, the banks we've already bailed out once would be back with the begging bowl!}

I reckon Easter could be particularly memorable this year.

Strengthening Euro will be working wonders for all those Southern European nations, this article is just jumping on the bandwagon.

As crap as the UK economy is with the govt borrowing and spending like a drunken sailor, the Southern European economies are in a far worse position, and US debt, borrowing and printing is far greater then UK plc.

The only people benefiting from the Euro at this level are the Germans, as if they had the Deutsche Mark back it'd be a far stronger currency thus would affect their exports .... when such a scenario happens they'll need to export these jobs to places like Portugal, Italy, Ireland Greece and Spain to remain profitable ... the irony!

Somalia has a weak currency yet their exports are pretty much non existent, Britain will need a lot more then a weak currency before it can create an export market ... and it isn't going to happen with huge taxation needed to prop up govt spending on propping up the property market, and the endless laws, rules and regulations people and business currently has stifling them.

And it just isn't going to happen with the current EU stooges from Oxbridge running the show.

But these nice lads from Eton have promised us a referendum if they get back in and the questions is going to be......anyone for a horse burger? Put you down for some French Fries as well then Lord Snooty?

[Naam]

it does not look good

GBP/USD 1.52863

[Thailand1977]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

[meatboy]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

gbp/euro 1.1477

whats this run on the bank of islam?ch 7.5am