Baht continues downward trend

[lostoday]

Human beings transfer money to Thailand for the interest rates? Who you trying to kid?

a number of postings do indeed exist where TV-members mention they transferred money to Thailand to get some meagre interest.

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

[slipperylobster]

The greenback has also strengthened against other major currencies as well as the currencies in Asean.

I thought the dollar had weakened against most major currencies in the past 4 days.

so the article is wrong?

[slipperylobster]

So if I am taking money out from my bank in the U.S. by using the ATM here in Thailand, and I getting the 33.75 rate for the baht?

no.

But you are getting more than last year...at that same ATM.

I stay away from ATM's...but am now getting a few thousand baht more a month when I wire the monthly check over here. The fees for atm's and wiring remain unchanged....if that is your question.

Just figure the percent diffenence between last year and now.... Hard to get the actual rate...anywhere.

Edited June 5, 2015 by slipperylobster

[Anthony5]

Human beings transfer money to Thailand for the interest rates? Who you trying to kid?

a number of postings do indeed exist where TV-members mention they transferred money to Thailand to get some meagre interest.

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

Could it be because those people spent their days in Thailand, and weren't Canadian or Australian citizens in the first place?

[Anthony5]

The greenback has also strengthened against other major currencies as well as the currencies in Asean.

I thought the dollar had weakened against most major currencies in the past 4 days.

so the article is wrong?

Last time I checked the internet was free for all, so instead of making silly posts, you could check for yourself what the US$ has done against most major currencies since last Friday.

[lostoday]

a number of postings do indeed exist where TV-members mention they transferred money to Thailand to get some meagre interest.

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

Could it be because those people spent their days in Thailand, and weren't Canadian or Australian citizens in the first place?

Yes, I would say that. People move money to Thailand for living expenses but not as financial wizardry to make profits with high interest rates. The "Thai transfer" is not local boiler room jargon for high interest plays.

[slipperylobster]

The greenback has also strengthened against other major currencies as well as the currencies in Asean.

I thought the dollar had weakened against most major currencies in the past 4 days.

so the article is wrong?

Last time I checked the internet was free for all, so instead of making silly posts, you could check for yourself what the US$ has done against most major currencies since last Friday.

so much effort in what is fairly obvious. exchange rates are posted almost anywhere you look.

The article is correct.... I just was curious why anyone would doubt it.

Edited June 5, 2015 by slipperylobster

[Baerboxer]

It was a good thing for the Junta that the Yingluck regime built large US dollar cash reserves. These reserves resulted in part as a result of increased GDP growth. Prayut had been using it to artificially prop-up the baht last year (much as did Putin) in the face of declining GDP growth but the economic floodgates couldn't hold back Thailand's collapsing economy.

I expect the baht to continue to slump another 5% going into Winter 2015 at which time Prayut has promised financial benefits from massive government investment stimulus to take effect. If his prediction proves incorrect, we might see another Winter of Discontent.

Wow - she just did so much good and so many wonderful things. That Nobel prize might be for economics not peace, or perhaps both.

Are you should Thaksin's puppet regime formerly known as the Yingluck regime wasn't building things up so they could be "diverted" - you know, like the missing billions from rice and water management scams, and the planned 2.2 trillion non accountable little fund?

[Baerboxer]

Human beings transfer money to Thailand for the interest rates? Who you trying to kid?

a number of postings do indeed exist where TV-members mention they transferred money to Thailand to get some meagre interest.

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

Nothing like the whopping interest rates UK banks or offshore accounts pay! They are pathetic and not likely to change any time soon. I can get good rates in Thailand compared to these and top up when the pound rises.

This is to cover my family expenses and some extra bunce, I'm not leaving any time soon.

I'm not interested in what Aussies and Canadians do - their business. But many Aussies I know wish they'd brought more here when the er was better.

Tax - fill a form in and get the withholding tax back. UK - they'll screw me for every penny under the new rules.

[falang07]

well, I have transferred money to Thailand and earned from it twice: on the exchange rate (20% in one year) and on the interest rate (3,5% in one year), too

[lostoday]

well, I have transferred money to Thailand and earned from it twice: on the exchange rate (20% in one year) and on the interest rate (3,5% in one year), too

What year?

[Colabamumbai]

The Thai Baht is not worth the paper that it is printed on.

[lostoday]

The Thai Baht is not worth the paper that it is printed on.

Don't tell my house, car, motorcycle and the food it buys everyday.

[Jonmarleesco]

'The baht has fallen sharply since the Bank of Thailand cut the policy rates ...' Actually, it hasn't. The USD has strengthened while GBP has fluctuated, being, for example (BBL sight bill) 51.83 a fortnight ago, 51.10 a week ago, 51.285 today.

'

[HappyinNE]

but do you think it’s a good thing to promote a cashless society, an economic system that would compel every man, woman, and child to utilize proprietary, government-monitored electronic systems to make purchases of any kind?

No just a good thing for the government. If no cash then the government can establish a negative interest rate on all of your former money and take what they want depending on how negative the interest is. Without cash you are stuck as can not pull money out of system and keep under the mattress.

[lostoday]

but do you think it’s a good thing to promote a cashless society, an economic system that would compel every man, woman, and child to utilize proprietary, government-monitored electronic systems to make purchases of any kind?

No just a good thing for the government. If no cash then the government can establish a negative interest rate on all of your former money and take what they want depending on how negative the interest is. Without cash you are stuck as can not pull money out of system and keep under the mattress.

What does the above have to do with the topic?

[Naam]

the baht is overpriced anyway

how can you deflate the euro 20% in just one year ???

what does thailand have to offer except rice, hookers & tourism ?

with the help of Greece the €UR can be deflated even much more

see €UR/USD rate minus 2.5% within the last 48 hours.

[Naam]

The Thai Baht is not worth the paper that it is printed on.

but i'm sure you wish you had heaps of this paper

[lostoday]

the baht is overpriced anyway

how can you deflate the euro 20% in just one year ???

what does thailand have to offer except rice, hookers & tourism ?

with the help of Greece the €UR can be deflated even much more

see €UR/USD rate minus 2.5% within the last 48 hours.

Boy that's for sure. Did you look at the Greek market today after they didn't give the IMF any money?

[Naam]

well, I have transferred money to Thailand and earned from it twice: on the exchange rate (20% in one year) and on the interest rate (3,5% in one year), too

What year?

20% and more was possible only in 1998 (gain 33.3%). the next best years were 2006 with a gain of 12% and from june 2012 till april 2013 the gain was 10.5%. around 10% also during a few other periods of less than 12 months but not in a full calendar year.

[Naam]

the baht is overpriced anyway

how can you deflate the euro 20% in just one year ???

what does thailand have to offer except rice, hookers & tourism ?

with the help of Greece the €UR can be deflated even much more

see €UR/USD rate minus 2.5% within the last 48 hours.

Boy that's for sure. Did you look at the Greek market today after they didn't give the IMF any money?

the loss of the Athex today is with minus 1.71% quite moderate.

[Anthony5]

the baht is overpriced anyway

how can you deflate the euro 20% in just one year ???

what does thailand have to offer except rice, hookers & tourism ?

with the help of Greece the €UR can be deflated even much more

see €UR/USD rate minus 2.5% within the last 48 hours.

It's a conspiracy, they're sleeping together

Edited June 5, 2015 by Anthony5

[lostoday]

the baht is overpriced anyway

how can you deflate the euro 20% in just one year ???

what does thailand have to offer except rice, hookers & tourism ?

with the help of Greece the €UR can be deflated even much more

see €UR/USD rate minus 2.5% within the last 48 hours.

Boy that's for sure. Did you look at the Greek market today after they didn't give the IMF any money?

the loss of the Athex today is with minus 1.71% quite moderate.

National bank of Greece down YTD -60% today -10%

European stocks fell for a fourth day, led by Greece, after the Mediterranean nation became the first country to postpone a payment to the International Monetary Fund since the 1980s.

http://www.bloomberg.com/news/articles/2015-06-05/european-index-futures-decline-as-greece-defers-imf-payment

Edited June 5, 2015 by lostoday

[Anthony5]

the baht is overpriced anyway

how can you deflate the euro 20% in just one year ???

what does thailand have to offer except rice, hookers & tourism ?

with the help of Greece the €UR can be deflated even much more

see €UR/USD rate minus 2.5% within the last 48 hours.

Boy that's for sure. Did you look at the Greek market today after they didn't give the IMF any money?

the loss of the Athex today is with minus 1.71% quite moderate.

On my sreen it says minus 4.95% today.

http://www.bloomberg.com/quote/ASE:IND

[Naam]

Human beings transfer money to Thailand for the interest rates? Who you trying to kid?

a number of postings do indeed exist where TV-members mention they transferred money to Thailand to get some meagre interest.

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

people who got 3% in Australia have lost 23.5% during the last 3½ years in Thai Baht exchange rate terms. pro rata interest in that period 10.5% minus 23.5 and Thai interest rate 2.5% = net loss minus 20.75%.

CanDollar / Thai Baht currency loss during the last 3½ years minus 16%, assuming an interest rate of 1.7% for CAD and Thai interest of 2.5% p.a. the result is a net loss of minus 19.25%.

i humbly apologise for being a pain in the àss

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

my answer is a clear NO! but some people hold or transfer money to Thailand to hedge their living expenses or because they are afraid the Baht will increase vs. their "home currency". sometimes they lose, sometimes they win.

Edited June 5, 2015 by Naam

[NeverSure]

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

It is reasonable for some people to hold a certain currency to protect themselves from exchange fluctuations. That's not for everyone, but its one of the main reasons that so many car manufacturers build cars in the US. Even Mercedes and BMW do as Volkswagen and most Japanese brands do.

It's not the only reason, but they build big networks of privately owned dealerships who have huge investments and supplying a steady inventory at a predictable price is very necessary. If they remove the exchange rate risk by not importing, they can plan their supply lines and inventory.

To a lesser extent a retired expat on a budget "might" do the same by keeping some money where he lives. I live in the US and stay mostly in USD. There have been times just a few years ago when I lost against the baht and lately I have gained. I never felt the difference in USD inside the US. It is when I travel to Thailand that I feel the difference in the exchange rate.

[NeverSure]

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

people who got 3% in Australia have lost 23.5% during the last 3½ years in Thai Baht exchange rate terms. pro rata interest in that period 10.5% minus 23.5 and Thai interest rate 2.5% = net loss minus 20.75%.

CanDollar / Thai Baht currency loss during the last 3½ years minus 16%, assuming an interest rate of 1.7% for CAD and Thai interest of 2.5% p.a. the result is a net loss of minus 19.25%.

i humbly apologise for being a pain in the àss

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

my answer is a clear NO! but some people hold or transfer money to Thailand to hedge their living expenses or because they are afraid the Baht will increase vs. their "home currency". sometimes they lose, sometimes they win.

Thank you! I was typing while you posted. Spot on.

[lostoday]

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

people who got 3% in Australia have lost 23.5% during the last 3½ years in Thai Baht exchange rate terms. pro rata interest in that period 10.5% minus 23.5 and Thai interest rate 2.5% = net loss minus 20.75%.

CanDollar / Thai Baht currency loss during the last 3½ years minus 16%, assuming an interest rate of 1.7% for CAD and Thai interest of 2.5% p.a. the result is a net loss of minus 19.25%.

i humbly apologise for being a pain in the àss

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

my answer is a clear NO! but some people hold or transfer money to Thailand to hedge their living expenses or because they are afraid the Baht will increase vs. their "home currency". sometimes they lose, sometimes they win.

You are not a pain in the axx. You just changed the topic so you would not look like an ignorant person. Our discussion topic interest rates in Thailand not exchange rates.

I wrote, "Human beings transfer money to Thailand for the interest rates? Who you trying to kid?"

I never said anything about exchange rates nor did Neversure who you chose to defend in his statement that people were chasing higher interest rates in Thailand which is untrue or at least really dumb.

Naam you are just having a bad night being wrong above and also wrong about the Greek stock market which is tanking. I'm sure you have all of your money out of Euros and Baht so why worry.

Edited June 5, 2015 by lostoday

[lostoday]

Since people were getting 1.7 to 3% in Canada and Australia I can't imagine why someone would move money with the Thai tax implications and problems for less than 1% in interest.

Sorry but going back to Neversure's statement I can't feel sorry for any nutcase who would do that.

I'm sure the facts of the matter are Neversure was unsure of the actual interest rate in Thailand as he has little familiarity with the country. I think you picked up on the discussion to try and start an argument over an obvious bad trade/move.

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

people who got 3% in Australia have lost 23.5% during the last 3½ years in Thai Baht exchange rate terms. pro rata interest in that period 10.5% minus 23.5 and Thai interest rate 2.5% = net loss minus 20.75%.

CanDollar / Thai Baht currency loss during the last 3½ years minus 16%, assuming an interest rate of 1.7% for CAD and Thai interest of 2.5% p.a. the result is a net loss of minus 19.25%.

i humbly apologise for being a pain in the àss

To be realistic and non augmentative if you were trying to increase your wealth by depositing money in a bank savings/cd account would Thailand be your choice?

my answer is a clear NO! but some people hold or transfer money to Thailand to hedge their living expenses or because they are afraid the Baht will increase vs. their "home currency". sometimes they lose, sometimes they win.

Thank you! I was typing while you posted. Spot on.

If you had been talking about exchange rates. However you were not. You were talking about interest rates and no one is dumb enough to move money to Thailand for a 1% increase in interest rates.

[Naam]

You are not a pain in the axx. You just changed the topic so you would not look like an ignorant person. Our discussion topic interest rates in Thailand not exchange rates.

I wrote, "Human beings transfer money to Thailand for the interest rates? Who you trying to kid?"

I never said anything about exchange rates nor did Neversure who you chose to defend in his statement that people were chasing higher interest rates in Thailand which is untrue or at least really dumb.

i am not wasting time searching for comments of people who transferred money to Thailand because in their homecountry (especially the €U) they get zero interest. whether they are dumb or not is not up to us to judge. after all they are free to dispose of their money as they please.