The Strong Baht, Who Are The Winners?

[soi41]

We have quite a few threads going on, how the strong baht is hurting many expats.

But there have to be winners too? People working and have their salaries in baht. People brave (lucky) enough to be heavily invested in Thailand -SET or Thai bonds.

For those people the advantages are, that petrol is becoming cheaper, to holiday abroad is becoming more affordable and imported food should be cheaper (if the supermarkets didn't pocket the difference).

This doesn't change the situation for people on fixed income from their homecountries, I understand that, but there are 3 or 4 other threads running on that topic, so the idea here was just to point at, it is not all bad for all!

[theblether]

Aye you're right........

The real winners are the people who intend to visit overseas locations or to purchase overseas. If you're not planning either then it makes not a jot of difference, it's only a paper exercise.

I know a teacher who is getting paid 25,000 baht a month. Not a month goes past where isn't skint at the end of it. He used to say that he earned £500.00 a month, and last week he announced he now get's paid £568.00 per month.

Ehm, no!! You get paid 25,000 baht a month.

Eh, but it's equivalent to £568.00.

Ehm, but you're not going back to the UK and you never have any money anyway so <deleted> is the difference?

Aye but if I had money it would £568.00 now, not £500.00

Eh, but you never have any money so you're just gibbering a lot of nonsense.

Now I'm not, I now get paid £568.00 a month, so I'm right

No you're not, you get paid 25,000 baht a month that you will spend in the Thai economy cos you can't afford a flight home anyway.

But it's the same as £568.00!!!

Oh <deleted> and you wonder why we bash teachers.

[kennedy]

I'm retired here, and not concerned with any of the above. Next

[Ulysses G.]

I make all my money in baht, but most of my customers don't. Generally, it does not help business owners that depend on Westerners.

[yourauntbob]

Me

[giddyup]

I'm retired here, and not concerned with any of the above. Next

I'm retired here as well, and I don't know how you can say it doesn't concern you unless all your retirement money is tied up in Thai baht you are going to be affected by the strong baht. When I transferred money from Australia to here a month or so ago I was getting 32 baht to the dollar, now it's 29. Doesn't mean I'm panicking, but it does mean I'll hold off a while before transferring any more from Oz.

[noise]

Soi41

YOU SAID: "But there have to be winners too? People working and have their salaries in baht. People brave (lucky) enough to be heavily invested in Thailand -SET or Thai bonds. For those people the advantages are, that petrol is becoming cheaper, to holiday abroad is becoming more affordable and imported food should be cheaper (if the supermarkets didn't pocket the difference)."

I would agree that over the short time high income people who have money to invest and invested in the right securities have paper profits. They might have real baht profits if they sell. Over the long term, it could go either way, up further or down if foreign capital leaves.

Those high income people also will benefit on overseas travel. But the average person sees no benefit. He/she does not vacation overseas.

If my gas/petrol prices do not go down (and they haven't) and if my food prices have not gone down (and they haven't) then Nit's, Dang, Somjet's, and Noi's petrol and food prices have not gone down.

I buy the same things with my dollar converted baht as my Thai family buys on their baht salaries. Neither one of us have seen any price decrease due to the strong baht.

If anyone is seeing the benefit on the local market, please let me know. Maybe I have just completely overlooked it or miscalculated. It would sure make me feel better abut the dollar dropping if I knew I was getting even a little "discount" somewhere.

[kennedy]

I'm retired here, and not concerned with any of the above. Next

I'm retired here as well, and I don't know how you can say it doesn't concern you unless all your retirement money is tied up in Thai baht you are going to be affected by the strong baht. When I transferred money from Australia to here a month or so ago I was getting 32 baht to the dollar, now it's 29. Doesn't mean I'm panicking, but it does mean I'll hold off a while before transferring any more from Oz.

My retirement income is 4x what I need to live the way I want. How strong would the baht have to get for me to be concerned?

[whiteman]

I'm retired here, and not concerned with any of the above. Next

I'm retired here as well, and I don't know how you can say it doesn't concern you unless all your retirement money is tied up in Thai baht you are going to be affected by the strong baht. When I transferred money from Australia to here a month or so ago I was getting 32 baht to the dollar, now it's 29. Doesn't mean I'm panicking, but it does mean I'll hold off a while before transferring any more from Oz.

I find it strange that you are from Ausy and you must have known that the Ausy was so strong for some time. Yet you did not send more over when you had the chance.Seeing that you are retired here that would have been the time to have done it I did when the Kiwi was just over 25.2 One has to watch and read when the time is right to make ones move when on a pension , unless you couldn't afford to send it over when it was strong. For my thoughts on you waiting I can not see the Ausy getting stonger in the near future to me there seems to be more of a down side to the Ausy now.

[jvs]

I would say some people who bought a house or condo here say ten years ago and sell up now and go back home stand to make some money.

[h90]

German companies......we import a lot more than ever before from Germany

[giddyup]

whiteman, on 24 Apr 2013 - 12:46, said:

giddyup, on 24 Apr 2013 - 12:12, said:

kennedy, on 24 Apr 2013 - 12:03, said:

I'm retired here, and not concerned with any of the above. Next

I'm retired here as well, and I don't know how you can say it doesn't concern you unless all your retirement money is tied up in Thai baht you are going to be affected by the strong baht. When I transferred money from Australia to here a month or so ago I was getting 32 baht to the dollar, now it's 29. Doesn't mean I'm panicking, but it does mean I'll hold off a while before transferring any more from Oz.

I find it strange that you are from Ausy and you must have known that the Ausy was so strong for some time. Yet you did not send more over when you had the chance.Seeing that you are retired here that would have been the time to have done it I did when the Kiwi was just over 25.2 One has to watch and read when the time is right to make ones move when on a pension , unless you couldn't afford to send it over when it was strong. For my thoughts on you waiting I can not see the Ausy getting stonger in the near future to me there seems to be more of a down side to the Ausy now.

Well I figured 2 million baht was enough to tide me over for a while, that's why I didn't transfer more. I personally don't want all my money in Thailand, not when it's earning 5% (was 6%) in Oz. Edited April 24, 2013 by giddyup

[whiteman]

whiteman, on 24 Apr 2013 - 12:46, said:

giddyup, on 24 Apr 2013 - 12:12, said:

kennedy, on 24 Apr 2013 - 12:03, said:

I'm retired here, and not concerned with any of the above. Next

I'm retired here as well, and I don't know how you can say it doesn't concern you unless all your retirement money is tied up in Thai baht you are going to be affected by the strong baht. When I transferred money from Australia to here a month or so ago I was getting 32 baht to the dollar, now it's 29. Doesn't mean I'm panicking, but it does mean I'll hold off a while before transferring any more from Oz.

I find it strange that you are from Ausy and you must have known that the Ausy was so strong for some time. Yet you did not send more over when you had the chance.Seeing that you are retired here that would have been the time to have done it I did when the Kiwi was just over 25.2 One has to watch and read when the time is right to make ones move when on a pension , unless you couldn't afford to send it over when it was strong. For my thoughts on you waiting I can not see the Ausy getting stonger in the near future to me there seems to be more of a down side to the Ausy now.

Well I figured 2 million baht was enough to tide me over for a while, that's why I didn't transfer more. I personally don't want all my money in Thailand, not when it's earning 5% (was 6%) in Oz.

I understand but your money on 5% and maybe taxed has just devalued from 32 to 29 = 9.4% if you had brought it over when the ausy was so strong for so long. Yet again you said you did not want to have ALL your money in Thailand so I understand your point

[breadbin]

For me I and wife purchased land in 2004, sold half of it and built a lovely house with pool in 2006. THB to GBP was 68-70 when I sent funds, fantastic.

Sold the house this year for a tidy profit plus the THB is around 44. Fantastic.

So it's been good for me and made a tidy some with the help of the lower THB rate.

Although, now when we holiday in Thai it costs more but in comparison to my profit I can't moan.

I think the strong THB affect people in different ways, always going to be good news and bad news for different people.

[chiang mai]

I win and I loose, half my funds are in THB and the other half in Western currencies, I watch whilst the value of one side of the spreadsheet goes up and the other goes down, only really useful if I wanted to return to the West and take the currency profit, which I don't.

[oxo1947]

Yes there are winners---they go by the name of.......... "Importers".

[rookball]

it depends. as for the current stage, yes for some. if there it remain continuous or a stronger bullish trend for thai baht, im afraid to guess it would be on a loosing end for many more than those who benefit out of it, on a longer term.

[Thailand1977]

The well to do seem to win whether the baht is weak or strong.

[how241]

I would say some people who bought a house or condo here say ten years ago and sell up now and go back home stand to make some money.

+1

[muratremix]

It obviously help to those who have millions and billions baht (remember the case where thieves steal 700 million baht from some Thai official's house as in cash? And they said there were more money).

Thaksin's buddies can convert their money to USD / EUR and take it out of country anytime they want.

[samran]

Yes there are winners---they go by the name of.......... "Importers".

you beat me to it.

[lazygourmet]

My Thai friends for whom I organize -once a year- a food & wine odyssey in south of France...

[AnotherOneAmerican]

It benefits all the wealthy Thais quietly shipping their money offshore, in anticipation of a forthcoming event.

After the disaster, they will all quietly ship their money back in, making a packet.

(This does assume Thailand is essentially intact after the events)

Edited April 24, 2013 by AnotherOneAmerican

[BookMan]

I'm retired here, and not concerned with any of the above. Next

I'm retired here as well, and I don't know how you can say it doesn't concern you unless all your retirement money is tied up in Thai baht you are going to be affected by the strong baht. When I transferred money from Australia to here a month or so ago I was getting 32 baht to the dollar, now it's 29. Doesn't mean I'm panicking, but it does mean I'll hold off a while before transferring any more from Oz.

No need to panic, as you say.

32/33 baht was a very good recent historical rate.

The last 10 year average is about 28.5 Baht for the AUD

[Kilgore Trout]

Aye you're right........

The real winners are the people who intend to visit overseas locations or to purchase overseas. If you're not planning either then it makes not a jot of difference, it's only a paper exercise.

I know a teacher who is getting paid 25,000 baht a month. Not a month goes past where isn't skint at the end of it. He used to say that he earned £500.00 a month, and last week he announced he now get's paid £568.00 per month.

Ehm, no!! You get paid 25,000 baht a month.

Eh, but it's equivalent to £568.00.

Ehm, but you're not going back to the UK and you never have any money anyway so <deleted> is the difference?

Aye but if I had money it would £568.00 now, not £500.00

Eh, but you never have any money so you're just gibbering a lot of nonsense.

Now I'm not, I now get paid £568.00 a month, so I'm right

No you're not, you get paid 25,000 baht a month that you will spend in the Thai economy cos you can't afford a flight home anyway.

But it's the same as £568.00!!!

Oh <deleted> and you wonder why we bash teachers.

Don't paint all so called "teachers" with the same brush....

Those of us who send home a thousand pounds or more per month will benefit quite nicely

[hubahuba]

Aye you're right........

The real winners are the people who intend to visit overseas locations or to purchase overseas. If you're not planning either then it makes not a jot of difference, it's only a paper exercise.

I know a teacher who is getting paid 25,000 baht a month. Not a month goes past where isn't skint at the end of it. He used to say that he earned £500.00 a month, and last week he announced he now get's paid £568.00 per month.

Ehm, no!! You get paid 25,000 baht a month.

Eh, but it's equivalent to £568.00.

Ehm, but you're not going back to the UK and you never have any money anyway so <deleted> is the difference?

Aye but if I had money it would £568.00 now, not £500.00

Eh, but you never have any money so you're just gibbering a lot of nonsense.

Now I'm not, I now get paid £568.00 a month, so I'm right

No you're not, you get paid 25,000 baht a month that you will spend in the Thai economy cos you can't afford a flight home anyway.

But it's the same as £568.00!!!

Oh <deleted> and you wonder why we bash teachers.

Very obvious he is no economics teacher. lol but my pension decreases each month, :-((

[chiang mai]

It benefits all the wealthy Thais quietly shipping their money offshore, in anticipation of a forthcoming event.

After the disaster, they will all quietly ship their money back in, making a packet.

(This does assume Thailand is essentially intact after the events)

Where do you guys get this stuff from, it sounds like the American equivelent of Chinese fortune crackers, presumably they come with the morning ceral!

[BB1955]

Being on a fixed pension it hurts me ... Not to the point where I would pack up and sell everything and leave .. Just making me tuck it in a little and ride it out .... I have always thought sell cheep and sell many was much better than selling a few and trying to make a killing on those.

[Stjohnm]

Aye you're right........

The real winners are the people who intend to visit overseas locations or to purchase overseas. If you're not planning either then it makes not a jot of difference, it's only a paper exercise.

I know a teacher who is getting paid 25,000 baht a month. Not a month goes past where isn't skint at the end of it. He used to say that he earned £500.00 a month, and last week he announced he now get's paid £568.00 per month.

Ehm, no!! You get paid 25,000 baht a month.

Eh, but it's equivalent to £568.00.

Ehm, but you're not going back to the UK and you never have any money anyway so <deleted> is the difference?

Aye but if I had money it would £568.00 now, not £500.00

Eh, but you never have any money so you're just gibbering a lot of nonsense.

Now I'm not, I now get paid £568.00 a month, so I'm right

No you're not, you get paid 25,000 baht a month that you will spend in the Thai economy cos you can't afford a flight home anyway.

But it's the same as £568.00!!!

Oh <deleted> and you wonder why we bash teachers.

One of the first (& best) pieces of advice I was given when I first moved out here was think in the local currency. Unfortunately I am heavily reliant on an income earn't in £ so I have to be completely financially bilingual. I loved it when ex-rate was US$2 & TH฿75-80 to the GB£ now that we're back to pre 1997 levels, things are tad dearer to say the least, I'm just glad I converted the ฿400k for the spousal visa when the rate was in the 70's.

Sent from my iPhone using ThaiVisa app

[soi41]

It benefits all the wealthy Thais quietly shipping their money offshore, in anticipation of a forthcoming event.

After the disaster, they will all quietly ship their money back in, making a packet.

(This does assume Thailand is essentially intact after the events)

Where do you guys get this stuff from, it sounds like the American equivelent of Chinese fortune crackers, presumably they come with the morning ceral!

Don't spoil a good old fashion conspiracy theory with something as boring as factual reality!