GBP to THB Exchange Rate

[Malthus101]

Are we going to hit 50? There will be huge orders to sell at 50. I need to get my money over ASAP before this whole thing collapses! 5 days? Argh.... Need to go to the head branch of BB apparently if I want to open a Sterling A/C here. Hope they don't charge for the privilege.

Yes, I'm well under 6 figures but it still makes a huge difference in what I get baht wise, I don't understand the reasoning behind 6 figures or less doesn't matter.

[chiang mai]

48! There will be singing and dancing in the streets tonight.

Where are all those that were claiming it would be under 40 by now? All gone quiet.

About six/seven years ago when GBP/THB was at a heady 70 ish there were those of us who forecast that Sterling would fall against THB and the subject became quite emotional over many months as the thread ran to hundreds of pages, at the time there were two main camps: the first was a small camp that said Sterling would fall to around THB40 per Pound, +/- 10% (I recently misquoted that figure as 35 +/- 10%). The second camp was very large and contained those who were still full of patriotism for Sterling and who were entranced by their five year 6% in Gurnsey and the IOM, trying to convince that larger group that there was a new world out there was almost impossible, most remained happy with their 6% per anum income, despite them loosing a far greater amount due the fall in value of the Pound.

So six years on the smaller camp was proved right as GBP/THB touched 43 and it was proved almost entirely correct for the preceeding five years where it averaged around 48/49. Today we see the value of GBP strengthen from a low of 43 to a whopping great 48 and this climb has been going on for what, three/four weeks.

Now none of the above is intended as a pat on the back for the smaller group or to rub the noses of the larger group into the dirt of history. It's just that when someone asks, where do you think the currency will be in five years and a number of people take a position and stick with it and very nearly get it right, for some reason there's always some in the majority who never dared take a position in the first place but like to turn round after the fact and say, of course you got it wrong!

Do you really think that we need to say anything more!

[Huayrat]

Gotta say that im smiling again.. losing over 10k baht everymonth when it dropped down to nearly 43 was not fun at all.. over 48 now ,, plz stay there or keep going up.. I can only assume there must have been many others in the same boat as myself

[mommysboy]

CM, I think you said 35 at one point.

But the gist is correct.

[yoshiwara]

HKDTHB 3.99 just a little push now....

[Huayrat]

could be 49 by friday woohoo keep going baby

[baboon]

Gotta say that im smiling again.. losing over 10k baht everymonth when it dropped down to nearly 43 was not fun at all.. over 48 now ,, plz stay there or keep going up.. I can only assume there must have been many others in the same boat as myself

Yes, me for one. However don't take this boon for granted. Who knows what will be around the corner after the money leeches do their thing and decide who is next to be exploited. Us, the Thais, the Bangladeshis, the Spanish, the Angolans?

[pattayadingo]

This current rise to 48 will make a lot of pensioners happy and certainly a few I drink with will be happier.

Let's hope it remains this way or even back to 50.

[chiang mai]

Are we going to hit 50? There will be huge orders to sell at 50. I need to get my money over ASAP before this whole thing collapses! 5 days? Argh.... Need to go to the head branch of BB apparently if I want to open a Sterling A/C here. Hope they don't charge for the privilege.

Yes, I'm well under 6 figures but it still makes a huge difference in what I get baht wise, I don't understand the reasoning behind 6 figures or less doesn't matter.

You can open a Sterling account at most branches, it doesn't need to be Head Office.

There is no charge to open a Sterling account but there is a charge to withdraw the funds in it, 5% as I recall - alternatively there is an annual charge if the funds are left untouched, 5% I think - it's not a good deal at all, I think.

[15Peter20]

Are we going to hit 50? There will be huge orders to sell at 50. I need to get my money over ASAP before this whole thing collapses! 5 days? Argh.... Need to go to the head branch of BB apparently if I want to open a Sterling A/C here. Hope they don't charge for the privilege.

Yes, I'm well under 6 figures but it still makes a huge difference in what I get baht wise, I don't understand the reasoning behind 6 figures or less doesn't matter.

You can open a Sterling account at most branches, it doesn't need to be Head Office.

There is no charge to open a Sterling account but there is a charge to withdraw the funds in it, 5% as I recall - alternatively there is an annual charge if the funds are left untouched, 5% I think - it's not a good deal at all, I think.

I think the charge for withdrawing from a foreign currency account is particularly steep when transferring the funds to another bank. If you transfer into a current account with the same bank (at least this is true for BKK bank), I don't think there's a charge. But if you want to release the funds into another bank's current account the best thing is to first put it in a temporary current account with the same bank as holds the FX account, then use a cashiers cheque to move it to another bank's account. Cheaper that way.

[MAJIC]

48! There will be singing and dancing in the streets tonight.

Where are all those that were claiming it would be under 40 by now? All gone quiet.

But of course! you are only an expert dealer when you are right.

[chiang mai]

Are we going to hit 50? There will be huge orders to sell at 50. I need to get my money over ASAP before this whole thing collapses! 5 days? Argh.... Need to go to the head branch of BB apparently if I want to open a Sterling A/C here. Hope they don't charge for the privilege.

Yes, I'm well under 6 figures but it still makes a huge difference in what I get baht wise, I don't understand the reasoning behind 6 figures or less doesn't matter.

You can open a Sterling account at most branches, it doesn't need to be Head Office.

There is no charge to open a Sterling account but there is a charge to withdraw the funds in it, 5% as I recall - alternatively there is an annual charge if the funds are left untouched, 5% I think - it's not a good deal at all, I think.

I think the charge for withdrawing from a foreign currency account is particularly steep when transferring the funds to another bank. If you transfer into a current account with the same bank (at least this is true for BKK bank), I don't think there's a charge. But if you want to release the funds into another bank's current account the best thing is to first put it in a temporary current account with the same bank as holds the FX account, then use a cashiers cheque to move it to another bank's account. Cheaper that way.

However you access the funds you will be charged, unless you decide to convert them into local currency..

[RAZZELL]

The "Cheap Charlies" will be dancing in the streets of Soi 4 and Soi 6

RAZZ

Edited June 12, 2013 by RAZZELL

[yoshiwara]

48! There will be singing and dancing in the streets tonight.

Where are all those that were claiming it would be under 40 by now? All gone quiet.

But of course! you are only an expert dealer when you are right.

The expertise is not to be assessed on the call but on the financial position one takes based on that call.

[chiang mai]

If my instinct still serves me right I reckon we're pretty close to the top/bottom (for the moment, lest someone should come back and yell at me six years hence for being wrong), based on where you view things from and where you're hoping it all will go.

[Malthus101]

Howdy

Just went to Bangkok Bank - the cost for receiving GBP is 0.25%, minimum 200 baht, maxium 500 baht, so it makes sense to transfer ALL my money at once into the FCD (Foreign Currency Deposit) account at Bangkok Bank.

If I change it into THB, there is no charge. If I withdraw it as GBP (why would I do that?) there is a 2% charge. If I just send it back directly to the UK bank, I don't pay 2%, but I pay something. She didn't say exactly.

When the GBP is here in the FCD, I have to manually keep an eye on the exchange rate and then physically come into the bank to request a conversion into THB. I have to sign papers.

Interestingly though, if I transferred from the UK directly to my normal Thai Deposit Account, the bamk would call me to ask when I would like to make the exchange. She said I have a 30 day window to keep the money held as GBP - with that, I could tell them for example, "only exchange at a rate of 50 bant to the pound".

If it never reached that high in 30 days, I would just say do it now at XYZ.

Almost seems easier just to do it that way than the whole opening an FCD route!

Edited June 12, 2013 by Malthus101

[chiang mai]

Howdy

Just went to Bangkok Bank - the cost for receiving GBP is 0.25%, minimum 200 baht, maxium 500 baht, so it makes sense to transfer ALL my money at once into the FCD (Foreign Currency Deposit) account at Bangkok Bank.

If I change it into THB, there is no charge. If I withdraw it as GBP (why would I do that?) there is a 2% charge. If I just send it back directly to the UK bank, I don't pay 2%, but I pay something. She didn't say exactly.

When the GBP is here in the FCD, I have to manually keep an eye on the exchange rate and then physically come into the bank to request a conversion into THB. I have to sign papers.

Interestingly though, if I transferred from the UK directly to my normal Thai Deposit Account, the bamk would call me to ask when I would like to make the exchange. She said I have a 30 day window to keep the money held as GBP - with that, I could tell them for example, "only exchange at a rate of 50 bant to the pound".

If it never reached that high in 30 days, I would just say do it now at XYZ.

Almost seems easier just to do it that way than the whole opening an FCD route!

A minimum ammount must be transfered in order to get that call from their Treasury Dept., am unsure what BBL's threshold is but you should check.

[draftvader]

xe.com shows 48.7995 right now. Sadly I might be one of the only people who is not happy about this as I have to move THB to GBP so was looking for a 2 year downgrade of GBP vs THB. Oh well, still better than 2 years ago for my needs.

Do any of the people in the knowledge have any idea why it has swung back up. Not been keeping abreast of the markets, government announcements, etc that affect these things.

Edited June 12, 2013 by draftvader

[AnotherOneAmerican]

Do any of the people in the knowledge have any idea why it has swung back up. Not been keeping abreast of the markets, government announcements, etc that affect these things.

The Thai economy is going down the toilet, fast.

Faster than the US and UK economy.

[chiang mai]

xe.com shows 48.7995 right now. Sadly I might be one of the only people who is not happy about this as I have to move THB to GBP so was looking for a 2 year downgrade of GBP vs THB. Oh well, still better than 2 years ago for my needs.

Do any of the people in the knowledge have any idea why it has swung back up. Not been keeping abreast of the markets, government announcements, etc that affect these things.

I also have been changing THB into GBP, I bought at 46 and again at 47.

THB is getting weaker on the back of capital outflows from Asia back to the US plus GBP has strengthened due to a series of positive reports onn manufacturing and services - also, talk of a furtther rate cut from BOT next month.

[Malthus101]

Howdy

Just went to Bangkok Bank - the cost for receiving GBP is 0.25%, minimum 200 baht, maxium 500 baht, so it makes sense to transfer ALL my money at once into the FCD (Foreign Currency Deposit) account at Bangkok Bank.

If I change it into THB, there is no charge. If I withdraw it as GBP (why would I do that?) there is a 2% charge. If I just send it back directly to the UK bank, I don't pay 2%, but I pay something. She didn't say exactly.

When the GBP is here in the FCD, I have to manually keep an eye on the exchange rate and then physically come into the bank to request a conversion into THB. I have to sign papers.

Interestingly though, if I transferred from the UK directly to my normal Thai Deposit Account, the bamk would call me to ask when I would like to make the exchange. She said I have a 30 day window to keep the money held as GBP - with that, I could tell them for example, "only exchange at a rate of 50 bant to the pound".

If it never reached that high in 30 days, I would just say do it now at XYZ.

Almost seems easier just to do it that way than the whole opening an FCD route!

A minimum ammount must be transfered in order to get that call from their Treasury Dept., am unsure what BBL's threshold is but you should check.

She told me US $5...!

A mistake for sure, must have meant US $5,000.

That sound about right?

[chiang mai]

Howdy

Just went to Bangkok Bank - the cost for receiving GBP is 0.25%, minimum 200 baht, maxium 500 baht, so it makes sense to transfer ALL my money at once into the FCD (Foreign Currency Deposit) account at Bangkok Bank.

If I change it into THB, there is no charge. If I withdraw it as GBP (why would I do that?) there is a 2% charge. If I just send it back directly to the UK bank, I don't pay 2%, but I pay something. She didn't say exactly.

When the GBP is here in the FCD, I have to manually keep an eye on the exchange rate and then physically come into the bank to request a conversion into THB. I have to sign papers.

Interestingly though, if I transferred from the UK directly to my normal Thai Deposit Account, the bamk would call me to ask when I would like to make the exchange. She said I have a 30 day window to keep the money held as GBP - with that, I could tell them for example, "only exchange at a rate of 50 bant to the pound".

If it never reached that high in 30 days, I would just say do it now at XYZ.

Almost seems easier just to do it that way than the whole opening an FCD route!

A minimum ammount must be transfered in order to get that call from their Treasury Dept., am unsure what BBL's threshold is but you should check.

She told me US $5...!

A mistake for sure, must have meant US $5,000.

That sound about right?

It seems to me that I don't get called on anything under GBP10k so it might be that call comes after USD20K, sorry can't be more precise, perhaps others can comment, for sure it's not USD5 though.

[Malthus101]

Howdy

Just went to Bangkok Bank - the cost for receiving GBP is 0.25%, minimum 200 baht, maxium 500 baht, so it makes sense to transfer ALL my money at once into the FCD (Foreign Currency Deposit) account at Bangkok Bank.

If I change it into THB, there is no charge. If I withdraw it as GBP (why would I do that?) there is a 2% charge. If I just send it back directly to the UK bank, I don't pay 2%, but I pay something. She didn't say exactly.

When the GBP is here in the FCD, I have to manually keep an eye on the exchange rate and then physically come into the bank to request a conversion into THB. I have to sign papers.

Interestingly though, if I transferred from the UK directly to my normal Thai Deposit Account, the bamk would call me to ask when I would like to make the exchange. She said I have a 30 day window to keep the money held as GBP - with that, I could tell them for example, "only exchange at a rate of 50 bant to the pound".

If it never reached that high in 30 days, I would just say do it now at XYZ.

Almost seems easier just to do it that way than the whole opening an FCD route!

A minimum ammount must be transfered in order to get that call from their Treasury Dept., am unsure what BBL's threshold is but you should check.

She told me US $5...!

A mistake for sure, must have meant US $5,000.

That sound about right?

It seems to me that I don't get called on anything under GBP10k so it might be that call comes after USD20K, sorry can't be more precise, perhaps others can comment, for sure it's not USD5 though.

Well, I think I will go down the FCD account route anyway. I'd rather have it all here so I can "snipe" the exchange rate when I want to manually.

Thanks.

[Johnboy27]

I have been planning on coming to pattaya for a 6 month + stay for a while now, it looks like its going to be about August time before I can get out there.

I've been watching the £/baht quite closely and saw it drop to scary low and rise back up to a nice level.

Now it's getting pretty close to 50 baht, I would like to exchange some money but looking for the best advice on the way to do it.

I am far from any kind of expert on currency But I have decided to buy in around 48-50 baht, my problem is I haven't opened a Thai bank account yet, but I've recently finished a contract I was working on.

I'm not ready to move over yet, but I have time for a short trip before just to sort out my accounts & condo etc.

What would you recommend as the best way to do it, I am looking to take over £10k plus to deposit in a Thai bank account.

I have read on here that Kassikorn seems to be the most popular account to open, are their tt rates pretty good in comparison to others?

Would I be better to take 10k cash through the airport & exchange on arrival at the best rate I can find at a

Exchange in pattaya and pay it into my new account?

Or just better to open an account in Thailand and transfer the money over from from my uk account?

[chiang mai]

I have been planning on coming to pattaya for a 6 month + stay for a while now, it looks like its going to be about August time before I can get out there.

I've been watching the £/baht quite closely and saw it drop to scary low and rise back up to a nice level.

Now it's getting pretty close to 50 baht, I would like to exchange some money but looking for the best advice on the way to do it.

I am far from any kind of expert on currency But I have decided to buy in around 48-50 baht, my problem is I haven't opened a Thai bank account yet, but I've recently finished a contract I was working on.

I'm not ready to move over yet, but I have time for a short trip before just to sort out my accounts & condo etc.

What would you recommend as the best way to do it, I am looking to take over £10k plus to deposit in a Thai bank account.

I have read on here that Kassikorn seems to be the most popular account to open, are their tt rates pretty good in comparison to others?

Would I be better to take 10k cash through the airport & exchange on arrival at the best rate I can find at a

Exchange in pattaya and pay it into my new account?

Or just better to open an account in Thailand and transfer the money over from from my uk account?

Absolutely no offense intended and indeed we all try to help where ever we can with questions concerning newbies, but the questions you've asked seem to get asked at least once a week and answered just as frequently, perhaps you could do a search on the forum to find the answers that you can and then come back to fill in the gaps?

[Huayrat]

send it in my account and ill change it for you

[chiang mai]

It looks to me like it's downhill from here.

http://www.investing.com/currencies/gbp-thb-technical

[AnotherOneAmerican]

It looks to me like it's downhill from here.

http://www.investing.com/currencies/gbp-thb-technical

Weren't they saying 'strong sell' last week as well?

[chiang mai]

It looks to me like it's downhill from here.

http://www.investing.com/currencies/gbp-thb-technical

Weren't they saying 'strong sell' last week as well?

I don't know, I wasn't looking last week, but honestly I kinda doubt it, you can be in/assured of that .

[AnotherOneAmerican]

It looks to me like it's downhill from here.

http://www.investing.com/currencies/gbp-thb-technical

Weren't they saying 'strong sell' last week as well?

I don't know, I wasn't looking last week, but honestly I kinda doubt it, you can be in/assured of that .

They've actually been saying 'strong sell' for the past two weeks.

I'm guessing they aren't all that good at predicting currency exchange rates.

I think hold out for 50 before the end of the month. Let's see who is right, the big boys or me?