GBP to THB Exchange Rate

[chiang mai]

"what we have now is socialism for risk taking asset owners", I like that, it's hard to deny.

[Thailand1977]

In relation to the pound vs baht debate from the whats Thailand doing to create a bubble.

I was recently in BKK after a 2 year gap ... and what i noticed more then anything was the amount of brand new cars that have appeared in such a small space of time ... often high end.

Now i do not study the Thai economy and its hardly deep and meaningful analysis but this money must be coming from somewhere, and the cynic in me is thinking a lot of these cars must have been bought on the never never.

And with western banks now looking for their next easy target, i'm wondering is there a personal credit boom happening in Thailand?

Thai govt of any colour is no different to any other in that they want to create a feel good factor to stay in power ... (barring a military coupe) loose credit is clearly the best way of doing this.

[chiang mai]

In relation to the pound vs baht debate from the whats Thailand doing to create a bubble.

I was recently in BKK after a 2 year gap ... and what i noticed more then anything was the amount of brand new cars that have appeared in such a small space of time ... often high end.

Now i do not study the Thai economy and its hardly deep and meaningful analysis but this money must be coming from somewhere, and the cynic in me is thinking a lot of these cars must have been bought on the never never.

And with western banks now looking for their next easy target, i'm wondering is there a personal credit boom happening in Thailand?

Thai govt of any colour is no different to any other in that they want to create a feel good factor to stay in power ... (barring a military coupe) loose credit is clearly the best way of doing this.

Yes there is indeed a personal credit boom underway and you are also correct about the volume of new cars, the government launched a tax free car purchase scheme last year and the volume of take up on the scheme was way beyond anyones expectations. It's worth mentioning also that as far as the credit boom is concerned, the levels of non-performing loans or bad debt remains quite small although banks have recently upped their provisions for this. The bottom line is that there is large ammounts of cash swilling around the planet (particularly from Japan) looking for an investment home and with a bouyant stock market and a bank rate of 2.75%, Thailand has become that temporary home. FWIW I don't believe that the Thai economy has even begun to reach overheat levels yet, that's a way off.

Edited February 8, 2013 by chiang mai

[mommysboy]

CM writes:

"So what's the way forward, let the banks fail and let Joe and Janes mortgage be called in, that would serve them right for being so greedy and getting their priorities wrong wouldn't it. And it would be great to see those banksters get their comeuppance, that'ld teach them. But of course in the process of all that, the inocent savers would lose their life savings, the numbers of homeless people would soar until their was real civil unrest, government would go into serious debt trying to cover insured savings losses, GDP would fall by many points and the country would turn into Mad Max territory pretty quickly. Hmm, probably best we don't let the banks fail after all, don't you agree?"

If it were to happen all at once I agree there would be carnage, but I don't agree with over protection. When I lost on shares nobody came to my aid of course, and why should anyone protect those who really should be taking a hit on property. There are moral issues also. And the wider issue is that high property prices effect wage levels and make GB less competitive.

There is a way forward, there always is, and in this case it has already been suggeste that there might be a Government sponsored housing development plan, bankrolled by pension funds. We already have the ability to make low cost social housing, and it doesn't have to be like those dreadful high rises of the 60's. 4 or 5 storey blocks Thai style.

Should lower house prices sufficiently but not dramatically, plus people get somewhere nice to live at a rate that can be afforded so that they can take lower paid jobs.

But I must stress it is for the good of the Britain that the housing market must fall at least 20% more.

[nong38]

In relation to the pound vs baht debate from the whats Thailand doing to create a bubble.

I was recently in BKK after a 2 year gap ... and what i noticed more then anything was the amount of brand new cars that have appeared in such a small space of time ... often high end.

Now i do not study the Thai economy and its hardly deep and meaningful analysis but this money must be coming from somewhere, and the cynic in me is thinking a lot of these cars must have been bought on the never never.

And with western banks now looking for their next easy target, i'm wondering is there a personal credit boom happening in Thailand?

Thai govt of any colour is no different to any other in that they want to create a feel good factor to stay in power ... (barring a military coupe) loose credit is clearly the best way of doing this.

You are right about personal debt, not just cars although Thai can nver have enough cars in the drive can he/she? Its the houses as well and have you noticed its always new cars and new houses. On my estate soon they will be starting on phase 3 of the building but even on phase 2 there are a good number of houses that people have left, there may be a telephone number but the occupants have gone, I reckon the banks own a fair proportion of the properties and likely the cars/pick ups as well. Thais seem to want to own transport rather the property and as for saving its just not a recognizable trait, if they have money they spend it, not the sort of financial understanding I was brought up to understand.

Well the rate went up slightly again so lets hope that happy days are just round the corner

[chiang mai]

CM writes:

"So what's the way forward, let the banks fail and let Joe and Janes mortgage be called in, that would serve them right for being so greedy and getting their priorities wrong wouldn't it. And it would be great to see those banksters get their comeuppance, that'ld teach them. But of course in the process of all that, the inocent savers would lose their life savings, the numbers of homeless people would soar until their was real civil unrest, government would go into serious debt trying to cover insured savings losses, GDP would fall by many points and the country would turn into Mad Max territory pretty quickly. Hmm, probably best we don't let the banks fail after all, don't you agree?"

If it were to happen all at once I agree there would be carnage, but I don't agree with over protection. When I lost on shares nobody came to my aid of course, and why should anyone protect those who really should be taking a hit on property. There are moral issues also. And the wider issue is that high property prices effect wage levels and make GB less competitive.

There is a way forward, there always is, and in this case it has already been suggeste that there might be a Government sponsored housing development plan, bankrolled by pension funds. We already have the ability to make low cost social housing, and it doesn't have to be like those dreadful high rises of the 60's. 4 or 5 storey blocks Thai style.

Should lower house prices sufficiently but not dramatically, plus people get somewhere nice to live at a rate that can be afforded so that they can take lower paid jobs.

But I must stress it is for the good of the Britain that the housing market must fall at least 20% more.

I like the thinking but pension funds you say, hmm, there's more people and businesses making a living from (our) pension funds than anything else in the UK, City firms, IFA's Insurance Companies etc, we're unlikely to see much change on that front in either of our life times, unfortunately.

And houses down 20%, I like that too except that will never happen either as far as I can tell, what's more probable is that inflation will take hold this year and next to the point where we all think that an average house price of 162 is a real bargin! Sad really.

[mccw]

In relation to the pound vs baht debate from the whats Thailand doing to create a bubble.

I was recently in BKK after a 2 year gap ... and what i noticed more then anything was the amount of brand new cars that have appeared in such a small space of time ... often high end.

Now i do not study the Thai economy and its hardly deep and meaningful analysis but this money must be coming from somewhere, and the cynic in me is thinking a lot of these cars must have been bought on the never never.

And with western banks now looking for their next easy target, i'm wondering is there a personal credit boom happening in Thailand?

Thai govt of any colour is no different to any other in that they want to create a feel good factor to stay in power ... (barring a military coupe) loose credit is clearly the best way of doing this.

You are right about personal debt, not just cars although Thai can nver have enough cars in the drive can he/she? Its the houses as well and have you noticed its always new cars and new houses. On my estate soon they will be starting on phase 3 of the building but even on phase 2 there are a good number of houses that people have left, there may be a telephone number but the occupants have gone, I reckon the banks own a fair proportion of the properties and likely the cars/pick ups as well. Thais seem to want to own transport rather the property and as for saving its just not a recognizable trait, if they have money they spend it, not the sort of financial understanding I was brought up to understand.

Well the rate went up slightly again so lets hope that happy days are just round the corner

Some save but many are reckless borrowers. The savers are the ones who by the land off the reckless. Then years later the reckless moan about no land and protests to get it back or go and squat or take over forest land, move to the cities to be cheap labour etc. there's also an important distinction between productive borrowing to in vest for greater income and unproductive borrowing for meaningless material goods for big face like shiny new truck, scooter, gadgets etc. My thai family are case in point. They borrow from the bank to acquire more farmland when available at rock bottom prices from a distressed seller, then paid it all off accruing more and more land; only later when sufficiently cash rich did they build the fancy new teak house and new transport with out any loans at all. It's the same in UK - those who take loans for buy to let prop or self employed biz compared to the average employee who buys a house with a massive mortgage to live in then continues running up debts on credit cards, personal loans for holidays, handbags, gadgets, flash new car etc. Like those that spend most income before even getting on the prop ladder it's the spending attitude that leads people to ruin or failure. Case in point , one friend of mine lived in a single room and went to work and saved building up three BTLs and he still now only shares a rented flat with friends in cheap area so can continue saving; compared to other friends who spend all money on living the high life, material life and then belly ache about how they can't get on the property ladder. Most are in a middle ground between the two.

[yoshiwara]

Some guys just prefer to spend all of their time blaming others for their predicament and dreaming about what should be rather than dealing with the world they live in. Bottom line is that they had a good opportunity the last few months of changing sterling at 49+ baht and they sat on their hands. So now its the usual Brit whine, whine, whine. The thing is that we have seen this played out so many times. When sterling goes up they hang back because they think it is going higher and when it goes down they panic and when it goes down quickly they get angry as well. And then the blame culture blinks into the sunlight and its the Tory government, the Labour government, the immigrants, the public sector, the bankers, the US, and so on and so on.

[exeter]

In relation to the pound vs baht debate from the whats Thailand doing to create a bubble.

I was recently in BKK after a 2 year gap ... and what i noticed more then anything was the amount of brand new cars that have appeared in such a small space of time ... often high end.

Now i do not study the Thai economy and its hardly deep and meaningful analysis but this money must be coming from somewhere, and the cynic in me is thinking a lot of these cars must have been bought on the never never.

And with western banks now looking for their next easy target, i'm wondering is there a personal credit boom happening in Thailand?

Thai govt of any colour is no different to any other in that they want to create a feel good factor to stay in power ... (barring a military coupe) loose credit is clearly the best way of doing this.

You are right about personal debt, not just cars although Thai can nver have enough cars in the drive can he/she? Its the houses as well and have you noticed its always new cars and new houses. On my estate soon they will be starting on phase 3 of the building but even on phase 2 there are a good number of houses that people have left, there may be a telephone number but the occupants have gone, I reckon the banks own a fair proportion of the properties and likely the cars/pick ups as well. Thais seem to want to own transport rather the property and as for saving its just not a recognizable trait, if they have money they spend it, not the sort of financial understanding I was brought up to understand.

Well the rate went up slightly again so lets hope that happy days are just round the corner

Some save but many are reckless borrowers. The savers are the ones who by the land off the reckless. Then years later the reckless moan about no land and protests to get it back or go and squat or take over forest land, move to the cities to be cheap labour etc. there's also an important distinction between productive borrowing to in vest for greater income and unproductive borrowing for meaningless material goods for big face like shiny new truck, scooter, gadgets etc. My thai family are case in point. They borrow from the bank to acquire more farmland when available at rock bottom prices from a distressed seller, then paid it all off accruing more and more land; only later when sufficiently cash rich did they build the fancy new teak house and new transport with out any loans at all. It's the same in UK - those who take loans for buy to let prop or self employed biz compared to the average employee who buys a house with a massive mortgage to live in then continues running up debts on credit cards, personal loans for holidays, handbags, gadgets, flash new car etc. Like those that spend most income before even getting on the prop ladder it's the spending attitude that leads people to ruin or failure. Case in point , one friend of mine lived in a single room and went to work and saved building up three BTLs and he still now only shares a rented flat with friends in cheap area so can continue saving; compared to other friends who spend all money on living the high life, material life and then belly ache about how they can't get on the property ladder. Most are in a middle ground between the two.

Interesting points you make, I also notice that Thais rarely buy 2nd hand anything, houses, cars, computers etc etc and they never worry about paying for things until a few days before its due so payments are often late incurring a penalty fee. Next payment date its the same they never learn the lesson of budgeting.

Thai live for today, today is real its here, tomorrow may never come. When tomorrow does come it brings bad news of spiralling debt and new realities but will they ever admit to making a mistake?

[exeter]

Some guys just prefer to spend all of their time blaming others for their predicament and dreaming about what should be rather than dealing with the world they live in. Bottom line is that they had a good opportunity the last few months of changing sterling at 49+ baht and they sat on their hands. So now its the usual Brit whine, whine, whine. The thing is that we have seen this played out so many times. When sterling goes up they hang back because they think it is going higher and when it goes down they panic and when it goes down quickly they get angry as well. And then the blame culture blinks into the sunlight and its the Tory government, the Labour government, the immigrants, the public sector, the bankers, the US, and so on and so on.

Interesting thoughts but remember everyone is different and so are their situations. I go back to the UK every May and June that is the time when I have to hope that things are good for me to make my financial decisions. In the last couple of years at that time I have brought back funds at 49.5 luckily and if I am selling shares to fund that operation then they need to be at good price to.

I have some shares in IMG, the shares were doing very nicely until some <deleted> who thought he was a sage bluttered out that the company were to dependant on Apple corporation ( who would you prefer to be invovled in?), the shares plunged (717 down to 400) I bought them at 60 by the way. Yes they make a lot of things for Apple and many others, PURE digital, Samsung, Sharp etc. Apple own 16% and Intel 9% of them but one throw away statement came affect prices and markets, I, we all have to hope that people engage their brain before their tongue ( Govts as well) and hope that our best laid plans turn out as we hope. We base our decisions on what we know today, what we dont know is what will happen tomorrow or in the future, they are just guesses and hopes.

So, nice picture by the way, I am looking for a good rate in June, 50 would do nicely, a rising stock market and stability, here, at home and abroad, then I can sleep peacefully and maybe you can too.

[Thailand1977]

Some guys just prefer to spend all of their time blaming others for their predicament and dreaming about what should be rather than dealing with the world they live in. Bottom line is that they had a good opportunity the last few months of changing sterling at 49+ baht and they sat on their hands. So now its the usual Brit whine, whine, whine. The thing is that we have seen this played out so many times. When sterling goes up they hang back because they think it is going higher and when it goes down they panic and when it goes down quickly they get angry as well. And then the blame culture blinks into the sunlight and its the Tory government, the Labour government, the immigrants, the public sector, the bankers, the US, and so on and so on.

I am willing to bet that you didn't buy millions of baht only to sell it bank to sterling in the last few months.

Carney could have hinted at raising interest rates and/or slowing/stopping QE, then it'd be a different game.

Edited February 10, 2013 by Thailand1977

[yoshiwara]

Some guys just prefer to spend all of their time blaming others for their predicament and dreaming about what should be rather than dealing with the world they live in. Bottom line is that they had a good opportunity the last few months of changing sterling at 49+ baht and they sat on their hands. So now its the usual Brit whine, whine, whine. The thing is that we have seen this played out so many times. When sterling goes up they hang back because they think it is going higher and when it goes down they panic and when it goes down quickly they get angry as well. And then the blame culture blinks into the sunlight and its the Tory government, the Labour government, the immigrants, the public sector, the bankers, the US, and so on and so on.

I am willing to bet that you didn't buy millions of baht only to sell it bank to sterling in the last few months.

Carney could have hinted at raising interest rates and/or slowing/stopping QE, then it'd be a different game.

Whether one made significant purchases of baht last year was not my point. It was about individuals writing screeds of bile blaming the rest of the world for the situation they were in rather than taking action themselves when they could, and not taking a position which of course necessitated some risk. Blaming others is a pure rear-view mirror play. What I did do back in 2008-2009 was benefit from sterling's 20%+ decline against the $ and still riding that one. Not likely to go back to sterling.

Edited February 11, 2013 by yoshiwara

[Thailand1977]

Some guys just prefer to spend all of their time blaming others for their predicament and dreaming about what should be rather than dealing with the world they live in. Bottom line is that they had a good opportunity the last few months of changing sterling at 49+ baht and they sat on their hands. So now its the usual Brit whine, whine, whine. The thing is that we have seen this played out so many times. When sterling goes up they hang back because they think it is going higher and when it goes down they panic and when it goes down quickly they get angry as well. And then the blame culture blinks into the sunlight and its the Tory government, the Labour government, the immigrants, the public sector, the bankers, the US, and so on and so on.

I am willing to bet that you didn't buy millions of baht only to sell it bank to sterling in the last few months.

Carney could have hinted at raising interest rates and/or slowing/stopping QE, then it'd be a different game.

Whether one made significant purchases of baht last year was not my point. It was about individuals writing screeds of bile blaming the rest of the world for the situation they were in rather than taking action themselves when they could, and not taking a position which of course necessitated some risk. Blaming others is a pure rear-view mirror play. What I did do back in 2008-2009 was benefit from sterling's 20%+ decline against the $ and still riding that one. Not likely to go back to sterling.

Im flying to Norway next week to go earn 4 times the average daily wage, and i may go to Iraq later this year .... is that getting off ones arse?

It doesnt change the fact that it costs £250,000 to buy a property that would cost 100K and that it is others who are making it this way.

If it wasn't for others ie the govt and banks supporting this scam there is no way on gods earth i'd be risking my life by going to Iraq, thus i believe i've a reason to highlight the scam.

Yet i still get to hear from people like you who think they're harder working and far more intelligent then pretty much everyone, and how lazy and whiny people that didn't jump onto the property bubble as they suspected things were about to crash (yes i sold all my shares 3 months before the market crashed in 07 or 08 whenever it was as cash should have been King), you were born at the right time that's the only difference between you and the people you look down upon for daring to question the current situation .... i didn't realise it was so political and that banks were going to drop interest rates to their lowest ever in the 350 odd Years of the BOE or so blatantly print money ..... now if you foresaw that then i take my hat off to you.

I've made all the right moves for a society bordering on capitalism, in hindsight i was naive to believe capitalism has ever truly existed.

Only today i read that the private energy companies have the taxpayer by the balls, another case of privatise profits and socialise the losses.

http://www.telegraph.co.uk/finance/newsbysector/energy/9861350/Consumers-to-foot-4bn-bill-in-event-of-Big-Six-crash.html

Another blow for UK plc and Sterling, just the fact that we are potentially on the hook for it.

[meatboy]

just when it was starting to get a little bit better[fri-mon] today we will see that the gbp has lost its gains against the euro,usd and hkd,what this will do against the thb we can only guess,bkkb hasnt updated their rate 8.30am.mon.46.75TT.looks like a bumpy ride for all uk.expats that rely on monthly trans.them that are thinking of moving to thailand to live had better take a long look at their finances and base your expences at a much lower rate of exchange otherwise it could end up in heart ache.i have seen this happen for myself where 2 freinds have found they are having trouble making ends meet.

please can we have this bickering that has been going on far too long and get back to being civilised.

[chiang mai]

please can we have this bickering that has been going on far too long and get back to being civilised.

I second that!

[yoshiwara]

just when it was starting to get a little bit better[fri-mon] today we will see that the gbp has lost its gains against the euro,usd and hkd,what this will do against the thb we can only guess,bkkb hasnt updated their rate 8.30am.mon.46.75TT.looks like a bumpy ride for all uk.expats that rely on monthly trans.them that are thinking of moving to thailand to live had better take a long look at their finances and base your expences at a much lower rate of exchange otherwise it could end up in heart ache.i have seen this happen for myself where 2 freinds have found they are having trouble making ends meet.

please can we have this bickering that has been going on far too long and get back to being civilised.

It is not surprising that there are some more exposed to currency movement volatility than others. Some of those who came to Thailand when GBP fetched over 70 baht to the pound have managed to adjust to the more recent rate sub-50, but the most recent lurch downwards may feel one squeeze too many. For those who have burned their boats though, they will just have to get on with it.

[meatboy]

bkkb.8.30am gbp=46.48 down 27satang euro=39.76 up 22satang TTrates

looks like b.o.t.is keeping the £ below 47

[Naam]

bkkb.8.30am gbp=46.48 down 27satang euro=39.76 up 22satang TTrates

looks like b.o.t.is keeping the £ below 47

Sterling is irrelevant for the BoT. any weakness GBP/THB is caused by weakness of GBP/USD and/or weakness USD/THB.

[15Peter20]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

[meatboy]

bkkb.8.30am gbp=46.48 down 27satang euro=39.76 up 22satang TTrates

looks like b.o.t.is keeping the £ below 47

Sterling is irrelevant for the BoT. any weakness GBP/THB is caused by weakness of GBP/USD and/or weakness USD/THB.

yes nam i did see the gbp/was down against the usd,and usd was up against the bht.

[yoshiwara]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

While markets consider that the euro has solved its immediate problems, the pound will continue to get hit as the nearest liquid punchbag. If the euro weakens as a result of old problems from the PIIGS bursting out AND US political dysfunction pops back on our screens then the pound may benefit, but the BoE quite sanguine about further pound weakening PLUS need to note that the pound is now looks like a cork floating in bigger and stronger currents. The much vaunted 'independent' currency is less than meets the eye.

Edited February 12, 2013 by yoshiwara

[meatboy]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

go and visit the temple.

[15Peter20]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

go and visit the temple.

why, are they offering better rates there?

[yoshiwara]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

go and visit the temple.

why, are they offering better rates there?

Guaranteed haircut.

[15Peter20]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

go and visit the temple.

why, are they offering better rates there?

Guaranteed haircut.

err....right you are....

[chiang mai]

bkkb.8.30am gbp=46.48 down 27satang euro=39.76 up 22satang TTrates

looks like b.o.t.is keeping the £ below 47

Sterling is irrelevant for the BoT. any weakness GBP/THB is caused by weakness of GBP/USD and/or weakness USD/THB.

yes nam i did see the gbp/was down against the usd,and usd was up against the bht.

That's the one to keep an eye on, USD/GBP has gone from 1.60 to 1.56 and along with it GBP/THB has dropped from about 50 to 46, I did read the other day whereone was asking whether they thought that USD/GBP might go to par (1 to 1), some of us will be quids in if does but most will be SOL!

[meatboy]

Today will see the release of over a dozen UK economy-related reports, including Retail figures, Productivity figures, Consumer Price Index plus a Quarterly Inflation letter. Looks likely there will be a lot of movement in the exchange rate over the next 24-48 hours. For those who held off selling pounds following last Friday's spike and now feel they missed a chance, there may be another opportunity to offload. I hope.

go and visit the temple.

why, are they offering better rates there?

you will get a free meal[rice] and a haircut,and you can bet someone will have a few bht.tucked away.

[Throatwobbler]

I am more interested in the foreign currency account. Bkk bank London told me there is no facility to hold sterling and exchange it when the rate is favourable, you appear to be contradicting them. Is this cash you brought in or cash transfered from the UK?

Most if not all the Thai banks here do foreign currency deposit accounts. Nothing unusual about them at all and their websites have details as to interest rates etc. Watch out for fees.

Hi I hope you or someone can help me. I have just inherited a reasonable,not huge, amount of money. Which is the best way to get it transferred here to get the best rate. I have a Bangkok bank account but have never heard of these Foreign currency accounts.

Would it be best to open one of those accounts and get money put in there or just get it transferred straight into my normal Bangkok Bank account. Sorry for my ignorance but I've never had the opportunity to have money sent over here. My life here has been supported by blood sweat and tears.

[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.

[15Peter20]

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.

Edited February 13, 2013 by 15Peter20