GBP to THB Exchange Rate

[yoshiwara]

Thailand seems to think a strong bhat is good, which it is if you buying things, but if you are attracting tourists and exporting things which Thailand seems to be well into then someone should be asking a few questions. A buying country would be looking elsewhere if the price is looking high so when current contracts expire, if things continue as they are, then perhaps the cntracts will not be renewed but will anyone wonder why that is?

It wont happen straight away but it will happen as less expensive suppliers offer better deals and once you have moved if the new player takes care of you why would you want to go back?

Thailand seems to be impervious to what happens elsewhere in the world, there could be a rude awakening coming.

In the meantime, we suffer the pain on the BOT inactivity.

Rather than marinating in pain, better to consider how to manage the currency situation at best for oneself.

[exeter]

Thailand seems to think a strong bhat is good, which it is if you buying things, but if you are attracting tourists and exporting things which Thailand seems to be well into then someone should be asking a few questions. A buying country would be looking elsewhere if the price is looking high so when current contracts expire, if things continue as they are, then perhaps the cntracts will not be renewed but will anyone wonder why that is?

It wont happen straight away but it will happen as less expensive suppliers offer better deals and once you have moved if the new player takes care of you why would you want to go back?

Thailand seems to be impervious to what happens elsewhere in the world, there could be a rude awakening coming.

In the meantime, we suffer the pain on the BOT inactivity.

Rather than marinating in pain, better to consider how to manage the currency situation at best for oneself.

How would you suggest we do that? Some people have to make regular withdrawals to live here and have to abide by the prevailing rate of the day, may be able to wait a few days but thats all.

[mccw]

Thailand seems to think a strong bhat is good, which it is if you buying things, but if you are attracting tourists and exporting things which Thailand seems to be well into then someone should be asking a few questions. A buying country would be looking elsewhere if the price is looking high so when current contracts expire, if things continue as they are, then perhaps the cntracts will not be renewed but will anyone wonder why that is?

It wont happen straight away but it will happen as less expensive suppliers offer better deals and once you have moved if the new player takes care of you why would you want to go back?

Thailand seems to be impervious to what happens elsewhere in the world, there could be a rude awakening coming.

In the meantime, we suffer the pain on the BOT inactivity.

Rather than marinating in pain, better to consider how to manage the currency situation at best for oneself.

How would you suggest we do that? Some people have to make regular withdrawals to live here and have to abide by the prevailing rate of the day, may be able to wait a few days but thats all.

Saving and investing in Thai bht might be an idea if you live here. The past 5 years totally proved the "never invest anything in Thailand" brigade wrong; they now have 30% less spending power from thier dollar, pound, or Euros.

[Naam]

Thailand seems to think a strong bhat is good, which it is if you buying things, but if you are attracting tourists and exporting things which Thailand seems to be well into then someone should be asking a few questions. A buying country would be looking elsewhere if the price is looking high so when current contracts expire, if things continue as they are, then perhaps the cntracts will not be renewed but will anyone wonder why that is?

It wont happen straight away but it will happen as less expensive suppliers offer better deals and once you have moved if the new player takes care of you why would you want to go back?

Thailand seems to be impervious to what happens elsewhere in the world, there could be a rude awakening coming.

In the meantime, we suffer the pain on the BOT inactivity.

Rather than marinating in pain, better to consider how to manage the currency situation at best for oneself.

How would you suggest we do that? Some people have to make regular withdrawals to live here and have to abide by the prevailing rate of the day, may be able to wait a few days but thats all.

Saving and investing in Thai bht might be an idea if you live here. The past 5 years totally proved the "never invest anything in Thailand" brigade wrong; they now have 30% less spending power from thier dollar, pound, or Euros.

you can save and invest in Thai Baht without bringing a single Satang into Thailand.

[nong38]

Naam is right, one way I use is First State who invest in the region, they know far more than I about whats going on. If I tried here myself I can see it all going wrong because "I did not understand" so I dont intend falling for that one. I am sure others will have similar/alternative ways of investing in Thailand.

[fletchsmile]

Good article on GBP:

http://www.hl.co.uk/news/articles/sterling-back-in-the-headlights

[fletchsmile]

How would you suggest we do that? Some people have to make regular withdrawals to live here and have to abide by the prevailing rate of the day, may be able to wait a few days but thats all.

Saving and investing in Thai bht might be an idea if you live here. The past 5 years totally proved the "never invest anything in Thailand" brigade wrong; they now have 30% less spending power from thier dollar, pound, or Euros.

you can save and invest in Thai Baht without bringing a single Satang into Thailand.

True, although that's not unique to Thailand.

A few of the reasons for having THB money and investments here rather than THO and Thai investments offshore, if you live here include:

- Best exchange rate. The onshore rate is usually better than the offshore rate, A few years back with capital controls that gap widened significantly - at one point offshore rate being almost 10% difference.

- Convenience of having your money in the same country you live in so you can just walk in and get large amounts immediately. Plus minimising transaction fees

- Very favourable tax regime for many investments - particularly on lower level amounts where more complicated structures are not economical.

Obviously on large amounts or for private banking clients (say USD 1mio up) there might be more suitable homes for money. For your average person here investments and savings in Thailand make a lot of sense.

[Naam]

Good article on GBP:

http://www.hl.co.uk/...-the-headlights

da Pound is duhmed?

[exeter]

Surely not, sterling is about to become the world's reserve cuurency, beating the bhat by a shade.

[15Peter20]

I changed GBP to THB today at Bangkok Bank. TT rate was 46.92. I asked for 47.0 and they gave me 46.96. Do those of you who have experience in negotiating an improved rate think this is a fairly normal outcome, or are there ways of getting a higher rate and if so, what are they? The amount was 25K. Thanks for any insight.

[wordchild]

I changed GBP to THB today at Bangkok Bank. TT rate was 46.92. I asked for 47.0 and they gave me 46.96. Do those of you who have experience in negotiating an improved rate think this is a fairly normal outcome, or are there ways of getting a higher rate and if so, what are they? The amount was 25K. Thanks for any insight.

in the context of where the pound/baht was trading that is a pretty good deal, for largish sums they will always improve slightly on the TT rate, if you ask. Always make sure you know the current rate at super rich (its nearly always better than the banks TT rate) and quote that to them. For very large sums (eg several hundred thousand sterling+) you have a bit more leverage and can negotiate directly with the banks forex team. Edited January 28, 2013 by wordchild

[yoshiwara]

I changed GBP to THB today at Bangkok Bank. TT rate was 46.92. I asked for 47.0 and they gave me 46.96. Do those of you who have experience in negotiating an improved rate think this is a fairly normal outcome, or are there ways of getting a higher rate and if so, what are they? The amount was 25K. Thanks for any insight.

If the quoted rate was 46.92 I would expect a quote of 46.94 for one thousand pounds.

For 25K pounds I might have held out for the 47b or waited for the rate to improve the next day.....

[meatboy]

I changed GBP to THB today at Bangkok Bank. TT rate was 46.92. I asked for 47.0 and they gave me 46.96. Do those of you who have experience in negotiating an improved rate think this is a fairly normal outcome, or are there ways of getting a higher rate and if so, what are they? The amount was 25K. Thanks for any insight.

4satang diff.than t.t.rate for 25k.seems you did get a fair deal,i got 12satang diff.on 100k.

[15Peter20]

Thanks for the advice guys.

I thought about exchanging more but the bank had said previously that I'd need some proof of what it was for, which I didn't have as its just for general stuff. meatboy, how did you get around this requirement when you transferred the 100K?

wordchild, maybe it is one advantage of exchanging with a bank that there is a lag between the movement of their TT rate and the movement of the current trading rate. The baht was trading (live) for less than what I got, which was the same rate the bank was offering over the weekend so they hadn't updated the TT rate yet whilst the live trading rate had apparently moved onwards and downwards. Maybe this could be beneficial to someone else in the right circumstances.

Anyway, the rate has fallen another 0.4Bt since my exchange yesterday. good grief, where will this end? (rhetorical question, don't answer unless you are guessing).

[beano2274]

looking good for my usual holiday in the UK, have to start purchasing a few quid.

[meatboy]

Thanks for the advice guys.

I thought about exchanging more but the bank had said previously that I'd need some proof of what it was for, which I didn't have as its just for general stuff. meatboy, how did you get around this requirement when you transferred the 100K?

wordchild, maybe it is one advantage of exchanging with a bank that there is a lag between the movement of their TT rate and the movement of the current trading rate. The baht was trading (live) for less than what I got, which was the same rate the bank was offering over the weekend so they hadn't updated the TT rate yet whilst the live trading rate had apparently moved onwards and downwards. Maybe this could be beneficial to someone else in the right circumstances.

Anyway, the rate has fallen another 0.4Bt since my exchange yesterday. good grief, where will this end? (rhetorical question, don't answer unless you are guessing).

as it was funds from a house sale in the uk.[wife's prop.] she stated on the trans.form what it was for[fixed savings dep.] so she has an income to top up my pensions.this is the third time she has trans.large sum as long as you state where it has come from and to what use it is for should have no problem.

[SantiSuk]

Mark Carney, incoming Bank of England Governor, was reported on Bloomberg yesterday as having implied at Davos that using the exchange rate was one of the (few remaining) tools for restoring some growth to the battered UK economy. The interpretation put on that was that he may well steer policy toward one that favours competitive devaluation of GBP or at least would not support significant BoE intervention to prop it up.

Head for the hills if this interpretation is correct (living is cheap among the Karen tribes I hear).

What price 45 baht before the end of the quarter? I reset my 'bring loads more money into baht' target strike price form 49 to 47.5 having heard that (and I'll drop further if I don't see that rate by mid Feb). Luckily I have got several million baht left that was bought at 50 during the three spikes to that rate over the last 2 years.

Non-speculative market observer. [if I were a punter I would be shorting GBP this AM]

[meatboy]

one thing i never do peter20 is have money sent over that arrives on fri.someone posted the ex.history always lower.

[nong38]

Mark Carney, incoming Bank of England Governor, was reported on Bloomberg yesterday as having implied at Davos that using the exchange rate was one of the (few remaining) tools for restoring some growth to the battered UK economy. The interpretation put on that was that he may well steer policy toward one that favours competitive devaluation of GBP or at least would not support significant BoE intervention to prop it up.

Head for the hills if this interpretation is correct (living is cheap among the Karen tribes I hear).

What price 45 baht before the end of the quarter? I reset my 'bring loads more money into baht' target strike price form 49 to 47.5 having heard that (and I'll drop further if I don't see that rate by mid Feb). Luckily I have got several million baht left that was bought at 50 during the three spikes to that rate over the last 2 years.

Non-speculative market observer. [if I were a punter I would be shorting GBP this AM]

I believe this chap is not due to take up his position until around June and one other thing attributed to him is that he will be happy to see higher inflation to get the economy growing.

I am hoping that and i expect you all are that the rate creeps back up in the near future. I have found in my short history here that the best rates I have found have been in the June/July period, so this might be a good time make a substantial transfer, thats my plan anyway and as I am going on a state visit to the UK in May it might just work out for me, must go and see the fortune teller!

I also see that a French Minister ( cant remember which one ) has stated that the country (France ) is totally bankrupt. What a mess in Euro land, is there any hope for them?

[reflectionx]

Baht Rises on Bets Policy Makers Will Allow Gains to Cap Prices

http://www.bloomberg.com/news/2013-01-29/baht-rises-on-bets-policy-makers-will-allow-gains-to-cap-prices.html

Thailand’s baht rose by the most in two weeks on speculation policy makers will tolerate currency gains to counter inflation. Government bonds were steady.

Finance Minister Kittiratt Na-Ranong said last week the central bank should avoid fighting market forces to stem baht appreciation. International investors bought $3.7 billion more local sovereign debt than they sold this month through yesterday and poured a net $487 million into equities, official data show. Inflation accelerated to 3.63 percent in December, the fastest in 13 months, government figures showed Jan. 2.

“The baht has received support from the perception that Thai authorities are more amenable to currency appreciation,” said Sacha Tihanyi, senior foreign-exchange strategist at Scotiabank in Hong Kong. “This has helped encourage portfolio flows. Domestic economic conditions may cause price pressures, while baht gains can help contain imported inflation.”

The baht climbed 0.4 percent, the biggest gain since Jan. 16, to 29.85 per dollar as of 8:23 a.m. in Bangkok, according to data compiled by Bloomberg. It has advanced 2.5 percent this year, the most among Asia’s 11 major currencies.

[Naam]

I believe this chap is not due to take up his position until around June and one other thing attributed to him is that he will be happy to see higher inflation to get the economy growing.

I am hoping that and i expect you all are that the rate creeps back up in the near future. I have found in my short history here that the best rates I have found have been in the June/July period, so this might be a good time make a substantial transfer, thats my plan anyway and as I am going on a state visit to the UK in May it might just work out for me, must go and see the fortune teller!

I also see that a French Minister ( cant remember which one ) has stated that the country (France ) is totally bankrupt. What a mess in Euro land, is there any hope for them?

Euroland is doomed for sure. that's why the €UR strengthened 9.3% vs. the Pound during the last 6 months

[exeter]

I believe this chap is not due to take up his position until around June and one other thing attributed to him is that he will be happy to see higher inflation to get the economy growing.

I am hoping that and i expect you all are that the rate creeps back up in the near future. I have found in my short history here that the best rates I have found have been in the June/July period, so this might be a good time make a substantial transfer, thats my plan anyway and as I am going on a state visit to the UK in May it might just work out for me, must go and see the fortune teller!

I also see that a French Minister ( cant remember which one ) has stated that the country (France ) is totally bankrupt. What a mess in Euro land, is there any hope for them?

Euroland is doomed for sure. that's why the €UR strengthened 9.3% vs. the Pound during the last 6 months

Ah Naam, Lord of the Graphs

[Naam]

I believe this chap is not due to take up his position until around June and one other thing attributed to him is that he will be happy to see higher inflation to get the economy growing.

I am hoping that and i expect you all are that the rate creeps back up in the near future. I have found in my short history here that the best rates I have found have been in the June/July period, so this might be a good time make a substantial transfer, thats my plan anyway and as I am going on a state visit to the UK in May it might just work out for me, must go and see the fortune teller!

I also see that a French Minister ( cant remember which one ) has stated that the country (France ) is totally bankrupt. What a mess in Euro land, is there any hope for them?

Euroland is doomed for sure. that's why the €UR strengthened 9.3% vs. the Pound during the last 6 months

Ah Naam, Lord of the Graphs

rather Lord of the Facts. that the facts are quite often spoiling wet dreams, wishful thinking and/or prove some spread rubbish ad absurdum is rather unfortunate but unavoidable.

[yoshiwara]

Mark Carney, incoming Bank of England Governor, was reported on Bloomberg yesterday as having implied at Davos that using the exchange rate was one of the (few remaining) tools for restoring some growth to the battered UK economy. The interpretation put on that was that he may well steer policy toward one that favours competitive devaluation of GBP or at least would not support significant BoE intervention to prop it up.

Head for the hills if this interpretation is correct (living is cheap among the Karen tribes I hear).

What price 45 baht before the end of the quarter? I reset my 'bring loads more money into baht' target strike price form 49 to 47.5 having heard that (and I'll drop further if I don't see that rate by mid Feb). Luckily I have got several million baht left that was bought at 50 during the three spikes to that rate over the last 2 years.

Non-speculative market observer. [if I were a punter I would be shorting GBP this AM]

If you have several million baht left then presumably you have sufficient baht funds for your own personal spending for several years, so there is no need for a reset for you as far as putting money into baht. If you do then it is more of a speculative currency trade which for a few percent why bother? On the other hand holding sterling in a cash deposit account might turn out to be quite expensive. Canadian Dollars?

[SantiSuk]

Mark Carney, incoming Bank of England Governor, was reported on Bloomberg yesterday as having implied at Davos that using the exchange rate was one of the (few remaining) tools for restoring some growth to the battered UK economy. The interpretation put on that was that he may well steer policy toward one that favours competitive devaluation of GBP or at least would not support significant BoE intervention to prop it up.

Head for the hills if this interpretation is correct (living is cheap among the Karen tribes I hear).

What price 45 baht before the end of the quarter? I reset my 'bring loads more money into baht' target strike price form 49 to 47.5 having heard that (and I'll drop further if I don't see that rate by mid Feb). Luckily I have got several million baht left that was bought at 50 during the three spikes to that rate over the last 2 years.

Non-speculative market observer. [if I were a punter I would be shorting GBP this AM]

If you have several million baht left then presumably you have sufficient baht funds for your own personal spending for several years, so there is no need for a reset for you as far as putting money into baht. If you do then it is more of a speculative currency trade which for a few percent why bother? On the other hand holding sterling in a cash deposit account might turn out to be quite expensive. Canadian Dollars?

I expect to put a fairly heavy slug of dosh into Thai equities at some point, Yoshi. Currently my Thai exposure is through UK-based investment trusts (Aberdeen New Thai and a range of other Asia-Pac ITs (that tend to have quite an exposure to Thailand these days). But you are right, as soon as I wrote that I don't speculate I thought to myself - yes you do - but it's on the fringes. Any kind of investment activity could I guess be described as speculation when it is money you have not earmarked to spend. Fair challenge :-)

[Naam]

I expect to put a fairly heavy slug of dosh into Thai equities at some point, Yoshi. Currently my Thai exposure is through UK-based investment trusts (Aberdeen New Thai and a range of other Asia-Pac ITs (that tend to have quite an exposure to Thailand these days). But you are right, as soon as I wrote that I don't speculate I thought to myself - yes you do - but it's on the fringes. Any kind of investment activity could I guess be described as speculation when it is money you have not earmarked to spend. Fair challenge :-)

[binnsy]

I would love to see a 20 baht to the GBP but alas i can only dream.

[SantiSuk]

.......I am hoping that and i expect you all are that the rate creeps back up in the near future. I have found in my short history here that the best rates I have found have been in the June/July period, so this might be a good time make a substantial transfer, thats my plan anyway ..... {Hope you'll forgive my redaction here, Nong}

.

Ouch. Tempting to make a Naam-like response to that as a financial strategy! I used to use that approach to equity investing and got burned time after time (the only one that tends to stick with me in equities is "sell in May and go away", which I never take literally but I nearly always look for parts of my portfolio to prune and go a bit more liquid over Summer).

At the very least I would encourage you to research the validity of your assumption against THB/GBP rate history charts. My spike purchases in 2012 (all at above 49.4) were in January and March and in 2011 were in late April, very early June and late October which would tend to put a question mark against your basic assumption.

By all means post me a raspberry when your own stratagem works. I hate know-it-alls like me!

[Naam]

nong38, on 2013-01-29 12:19:22, said: .......I have found in my short history here that the best rates I have found have been in the June/July period

Nong is partly right. that did indeed apply to 2008, 2009 and 2010 but not in 2011 and 2012.

[Naam]

I used to use that approach to equity investing and got burned time after time (the only one that tends to stick with me in equities is "sell in May and go away", which I never take literally but I nearly always look for parts of my portfolio to prune and go a bit more liquid over Summer).

"sell in may and... buy back end of october" was a highly successful strategy for HY-bonds during the last 15 years!