Baht's weakening in line with other regional currencies, BOT says

[BSJ]

Go to Macro and see how far one 1000 baht goes.....not far! It's getting very expensive to live here.

[Strangebrew]

Well well to the Nay sayers I predicted this would happen. But I'm just a dumb truck driver. Also expect the exchange rate to go to about 36 to 1 USD The pound and Euro will sink lower to the USD as will the AUD.

[Strangebrew]

But Deem's the breaks.

[micmichd]

Good for the exports and better for me that I will be getting more Baht

If you stashed your money in Euro last year and get it wired over you would face a loss of approximately 10 pct.

44 THB for 1 EUR a year ago, hardly 40 THB today.

:'(

[rickirs]

Relative to the yuan the baht is strengthening. That is good news for Thailand with the double rail track G2G project. Since the Chinese would finance 80% of the project cost, Thailand's debt coverage would be cheaper. On the other hand, Thailand exports to China will become expensive. The world of currency predictions has more twists and turns than Lombard Street in San Francisco, USA.

[sydneyjed]

Good for the exports and better for me that I will be getting more Baht:thumbsup:

But you WON'T be getting more Baht because it remains ridiculously high against everything except the USD...so if your income is in Euros there is a net loss ( but just be grateful the drachma is history ).

As for the Aussie Dollar....you'll find it "in the gutter." Lowest in four years.

Still above 27 THB...not exactly in the gutter and unless anyone is planning on going to the US for Xmas with AUD still good for anyone visiting Thailand given the value for money here in comparison to how expensive it now is in Australia to holiday!

[sydneyjed]

Since we are on the topic of the baht and exchange rate.... If I have Baht and wanted to exchange to US dollar to balance my cash between the two, can I just go to any of these exchange places on the street and exchange. Do I need a plane ticket ?

no most street exchanges don't do that. or don't have the us green back or wont. better to go to bank and some banks wont either i think its about haveing it on hand bbk will do it .not the mail ones a regular branch

Try Vasu Money Exchange(Nana BTS..opposite Subway sandwich shop)they deal in foreign currencies.

http://www.vasuexchange.com/

[KED]

I guess it's all a matter of perspective; when I moved to Thailand in 2006 from the U.S., the exchange rate was 41 baht to the dollar. Thailand is such a small currency in the world market and the Thai government is always fuzzy on their strategies - never know what will happen to the exchange rate.

[bangon04]

I guess it's all a matter of perspective; when I moved to Thailand in 2006 from the U.S., the exchange rate was 41 baht to the dollar. Thailand is such a small currency in the world market and the Thai government is always fuzzy on their strategies - never know what will happen to the exchange rate.

Time for a post from Naam......

[VegasVic]

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Good for the exports and better for me that I will be getting more Baht:thumbsup:

But you WON'T be getting more Baht because it remains ridiculously high against everything except the USD...so if your income is in Euros there is a net loss ( but just be grateful the drachma is history ).

Prbkk, You have made a very good point here, the Thai Baht has not been weakening at all it has been the U.S. Dollar that is strengthening, and since the worlds finances are so U.S.(Petro) Dollar centric it just appears that the Thai Baht is weakening. I have a feeling that the Thai Baht will begin to weaken over the next 12-18 months, at least I hope so for the European, Aussie and Japanese expats in the LOS, because the Dollar has just begun its stregthening cycle. The U.S. economy will continue to outpace the rest of the worlds economies and as the interest rates begin to climb in the U.S. so to the U. S. Dollar will continue to strengthen. This time around the strengthening cycle will be stronger for the U.S. Dollar than in the past due to the fact that the U.S. Dollar has been artificially supressed by the Treasury dept. for the past 15 years and also the fact that the U.S. is very quickly becoming a net exporter of petroleum products.

[farangmick]

Living on a fixed pension paid in sterling, I check the Siam Commercial exchange rates daily as the first of the month approaches. First trip to Thailand, got 74 baht to the pound. Lucky that I bought land and built the house when still around 65. About 58 when I bought the truck. With three kids at the best school in the district, things got pretty tight when it dipped under 44. Fairly content if it stays over 50 and I can save a bit. (If a Thai person ever reads this, "save" means not spending money as soon as you or your farang husband recieves it).

[fish fingers]

The Pound has dropped 3 baht since january 3 baht, i'm not complaining at 51.55 to 1 pound now, i was geting 45 baht to the pound 18 months ago. I fear the good old days are long gone. Get on with it, either dollar or pound we still get a good deal.

Be patient.. lots of movement next yr just keep in sterling for now

[HerbalEd]

The timing of the baht's weakening against the USD is happening at a great time for me. That is, IF it stays the same or increases over the next few days. I'll soon be wiring in a large amount of USD to purchase a new home and some other real estate. Wish I knew how much lower the baht will go and when ... but don't many of us?

Last year when I did this, the baht leaped up a small bit the very day my USDs arrived at my BKK Bank and the USDs exchanged at 500K baht less that they would have the day before. OUCH!

[retsdon]

The timing of the baht's weakening against the USD is happening at a great time for me. That is, IF it stays the same or increases over the next few days. I'll soon be wiring in a large amount of USD to purchase a new home and some other real estate. Wish I knew how much lower the baht will go and when ... but don't many of us?

Last year when I did this, the baht leaped up a small bit the very day my USDs arrived at my BKK Bank and the USDs exchanged at 500K baht less that they would have the day before. OUCH!

Do you buy a new house annually, then?

[davehowden]

Is this a good time to move sterling or USD to Thailand? Any thoughts? Does anyone have any insight into the state of the banks here, given the corruption in every walk of life, there seems no reason to suspect that the banks have hidden debts and fraud. I have money in the banks here in bonds.....I read somewhere that in 2015 the bank insurance per account is being reduced dramatically to only one million baht per account....so if you have 10 million in an bond account and the bank goes bust, you lose 9 million baht. Anyone (knowledgeable) have thoughts on this?

I think this is a very "dangerous" time to move more money to Thailand than you are prepared to lose.

I say this for reasons that cannot be disgust, and the turmoil that will erupt at that time.

[Pib]

The timing of the baht's weakening against the USD is happening at a great time for me. That is, IF it stays the same or increases over the next few days. I'll soon be wiring in a large amount of USD to purchase a new home and some other real estate. Wish I knew how much lower the baht will go and when ... but don't many of us?

Last year when I did this, the baht leaped up a small bit the very day my USDs arrived at my BKK Bank and the USDs exchanged at 500K baht less that they would have the day before. OUCH!

Do you buy a new house annually, then?

Bt500K less!? Less say the exchange rate changed 1% in one day which is a lot...you would have had to be transferring in Bt50M as 1% of 50M is 500K. I want to come live with you.