Thailand takes a hammer to the baht

[lopburi3]

Actually the first USD exchange TT rate from Bangkok Bank yesterday was 33.12 as received my ACH transfer requested 05/03/2015 at 12:13 a.m yesterday at 0830. This allowed processing by US branch on the 4th and normal second day delivery to Thailand. Expect you will gain by a delayed exchange and am sure bank is aware of this.

[TheAppletons]

Actually the first USD exchange TT rate from Bangkok Bank yesterday was 33.12 as received my ACH transfer requested 05/03/2015 at 12:13 a.m yesterday at 0830. This allowed processing by US branch on the 4th and normal second day delivery to Thailand. Expect you will gain by a delayed exchange and am sure bank is aware of this.

Yeah, mine was deposited yesterday morning also and I initiated the transfer on Friday, 1 May. Add in the U.S. weekend days and the five day Thai bank holiday....yesterday was about right.

[shaurene]

I bought a 1.000,000bahts worth of Euro 2 months ago, it increased against the Euro but now I am in profit, keep going. Soon as they sort Greece out the Euro will go strong again.

[CNXBKKMAN]

The concern is the baht's appreciation against regional currencies.

So do not hope for a large fall against the dollar or pound.

Have no fear. If labour win the coming UK election the pound will nosedive without any outside help.

Last time Labour was in power 1 pound was as high as USD1.90 - 2.00 . Labour could run the economy as badly as the Tories but its not guaranteed. The markets know this. Edited May 7, 2015 by CNXBKKMAN

[CNXBKKMAN]

Yes, I know.

My funds for my monthly pension in U.S. dollars were transferred on 4 May, and it is in the queue at Bangkok Bank,

Yesterday the 6th of May the main bank was open in Silom road, where the international transfers are processed but my 4 May transfer was not processed yesterday.

The reason I was given by the bank was that there were to quote the teller "to many transactions in the queue so my incoming transaction could not be processed".

The dollar to Baht rate they had listed yesterday was 32.8 baht to a dollar, but as I said the incoming funds transfer was not processed yesterday before 3 p.m.

I will see if it is processed today or not.

I believe Bangkok Bank was deliberately delaying processing dollar to Baht transactions yesterday hoping to be able to get a better dollar to Baht rate today.

Hopefully they will be wrong, and it will cost them a few more Baht today than yesterday.

The computer log shows my incoming funds arrived on 4 May..... I know that the 4th and 5th were holidays and the main bank in Silom was closed those two days

They were open on the 6th, and you would expect them to start processing incoming transfers when the bank opened at 8 a. m, but they still hadn't processed my incoming transfer by3 p.m. yesterday...... and I believe they are deliberately delaying processing incoming transfers hoping for a better (lower) dollar Baht rate today or tomorrow.

Fork them.

This sort of thing can happen when there has been bank holidays or long weekends. Like a fri,sat,sun, monday holiday. Has there been anything like that where you are?

[dageurreotype]

IMA_FARANG: The TT rate at Bangkok Bank - which is the rate you'll receive for your transfer - was well over 33 yesterday (It's 33.18 this morning.) 32.8 was undoubtedly for cash.

If you think Bangkok Bank was deliberately delaying the deposit of your transfer "hoping for a better (lower) dollar Baht rate today or tomorrow..." then you think Bangkok Bank has the ability to predict the future since the rate could go either up or down. Doubtful, huh?

However, this was the first time ever funds to my account from overseas were delayed

[sfokevin]

They need to buy a couple submarines and a few choo choo trains to really take a hammer to the current account surplus

Edited May 7, 2015 by sfokevin

[theguyfromanotherforum]

I bought a 1.000,000bahts worth of Euro 2 months ago, it increased against the Euro but now I am in profit, keep going. Soon as they sort Greece out the Euro will go strong again.

I did the same but it was 200 bucks

[TheAppletons]

IMA_FARANG: The TT rate at Bangkok Bank - which is the rate you'll receive for your transfer - was well over 33 yesterday (It's 33.18 this morning.) 32.8 was undoubtedly for cash.

If you think Bangkok Bank was deliberately delaying the deposit of your transfer "hoping for a better (lower) dollar Baht rate today or tomorrow..." then you think Bangkok Bank has the ability to predict the future since the rate could go either up or down. Doubtful, huh?

However, this was the first time ever funds to my account from overseas were delayed

Have you previously transferred money during a five consecutive day Thai bank holiday closing? And it arrived in your account prior to the banks re-opening from that holiday?

Didn't think so.

[rijit]

Now , at 52.8 ish to sterling thats a start. I C sterling getting stronger in the next ?.