Guest Posted June 29, 2015 Share Posted June 29, 2015 (edited) If you go into any bank today dollar rate is like 33 so plz tell me where I get 33.85 to the dollar BKK Bank at lunch today was exchanging at 33.49. Yes Appletons is correct - BKK Bank (is this stuff REALLY that difficult for some people?) Edited June 29, 2015 by Guest Link to comment Share on other sites More sharing options...
Fallangpakwan Posted June 29, 2015 Share Posted June 29, 2015 Good deal, let it drop; I've still got a few more months worth of baht to go but won't be long before I need a topup. Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2015 Share Posted June 29, 2015 Good deal, let it drop; I've still got a few more months worth of baht to go but won't be long before I need a topup. I like the idea that you, like me, buy the THB at high points, and enough to sit on the shore and wait for the next high tide. Over the years, it works out nicely. Link to comment Share on other sites More sharing options...
shaurene Posted June 29, 2015 Share Posted June 29, 2015 The Super Rich exchange at 4pm in Bangkok was 33.78 at the Khon Kaen branch 33.55. There is no stopping the Us$. Link to comment Share on other sites More sharing options...
shaurene Posted June 29, 2015 Share Posted June 29, 2015 Good deal, let it drop; I've still got a few more months worth of baht to go but won't be long before I need a topup. I like the idea that you, like me, buy the THB at high points, and enough to sit on the shore and wait for the next high tide. Over the years, it works out nicely. I bought 4M baht with my $NZ few years ago when I got 27.4 to my $ it is now 22.75 I am ok for a few more yrs. Link to comment Share on other sites More sharing options...
andy8017 Posted June 29, 2015 Share Posted June 29, 2015 Nixen told the rest of the world that the dollar was to be the reserve currency in 1951 when the US decided that being tied to the Gold reserves did not allow the Government to spend what it wanted to sustain the Viet Nam war, The result has been that the true value of the dollar is practically nil, in fact all the Fiat (paper) currencies are in the same boat. None of them have anything like enough gold or silver reserves in their central banks to support the amount of paper in circulation, so if the Greek situation spreads to other countries and there is a run on the Euro,Pound or Dollar ,the world Financial system will collapse, and it will be far worse that the bank crisis in 2008. Link to comment Share on other sites More sharing options...
Fallangpakwan Posted June 29, 2015 Share Posted June 29, 2015 Nixen told the rest of the world that the dollar was to be the reserve currency in 1951 when the US decided that being tied to the Gold reserves did not allow the Government to spend what it wanted to sustain the Viet Nam war, The result has been that the true value of the dollar is practically nil, in fact all the Fiat (paper) currencies are in the same boat. None of them have anything like enough gold or silver reserves in their central banks to support the amount of paper in circulation, so if the Greek situation spreads to other countries and there is a run on the Euro,Pound or Dollar ,the world Financial system will collapse, and it will be far worse that the bank crisis in 2008. Don't know it was 1951 when Nixon did that,more like 1971; but yeah if the crunch really came would say the US$ would be good for wallpaper. Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2015 Share Posted June 29, 2015 (edited) Get back to 42 (per USD), when I came to TH 11+ years ago Indeed. That's when I bought my 11M baht condo and saved lots of money. how do you save lots of money by buying a 11M condo? You would have saved a lot more having exchanged the USD at that time and keeping it in the bank at 4% per year or more :-) Because if he sold it at the same price today, 11,000,000 ... he would have lived rent free for 11 years, and had 19% more THB via currency changes. Now we all know that his condo probably has gone up in price ... a boat load in a decade .. so between market appreciation and currency working in his favor (if he elects to stay in the Kingdom) he is probably sitting on at least double. So really, put away your sour grapes and let him have his moment in the sun. (PS: can you please explain how at an average of 3% per annum of inflation, how a 4% bank deposit has any real value? BTW, WHEN was the last time you could get that yield on a bank deposit in the USA? You would have to go back 5 years to even get 4% on a 30 Year BOND! fer chisake) Oh, why do I preach to the unwashed? Edited June 29, 2015 by Guest Link to comment Share on other sites More sharing options...
whiteman Posted June 29, 2015 Share Posted June 29, 2015 N.Z. $ has dropped 10.5% against the bhat lucky I brought alot over when the n.z. was nearly the same as the ausy not to long ago. Now the kiwi is crap not many will come ove here for hols till it gets better. Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2015 Share Posted June 29, 2015 (edited) N.Z. $ has dropped 10.5% against the bhat lucky I brought alot over when the n.z. was nearly the same as the ausy not to long ago. Now the kiwi is crap not many will come ove here for hols till it gets better. Where is the "BINGO" button on this site ? This gentleman has summed up in one paragraph the entire current situation. WHEN will the rest get a clue? When the tide turns against tourists, and the price of a holiday jumps 25% ... they do not travel! Forget about MERS, the man in the moon, the price of rice .. etc .. It is Just That Simple! THANK YOU ! Edited June 29, 2015 by Guest Link to comment Share on other sites More sharing options...
elgordo38 Posted June 29, 2015 Share Posted June 29, 2015 It briefly went over $34/thb earlier in the morning. My currency is down 20% against the US dollar why I do not know. We are in a much better financial condition than they are. The baht drops a teeny weeny bit and all I hear and see is a gnashing of teeth and a wringing of hands. What a joke. Is the currency being propped up? I can stand outside and count cars 9 out of 10 are brand new and no doubt financed. This kind of madness can only continue so long and then something has to give. Link to comment Share on other sites More sharing options...
NovaBlue05 Posted June 29, 2015 Share Posted June 29, 2015 Just in time for my trip in July. My trips are usually on the wrong side of these trends Link to comment Share on other sites More sharing options...
stoli Posted June 29, 2015 Share Posted June 29, 2015 This is really going to piss off the non-USA expats. My only question is: Why? Do you just hate the US so much that you will have to rant & rave about how we are manipulating the world? Unbelievable that you think we have that kind of power. Wish we did, but we don't...... Link to comment Share on other sites More sharing options...
flyingdoc Posted June 29, 2015 Share Posted June 29, 2015 Let's see what happens this week? Link to comment Share on other sites More sharing options...
gyrosman Posted June 29, 2015 Share Posted June 29, 2015 Thank You GREECE! 1 WEEK BANKS CLOSED, YEA BUDDY! Link to comment Share on other sites More sharing options...
Langsuan Man Posted June 29, 2015 Share Posted June 29, 2015 This is the only one I care about and when it shows 34 to the $ I, then I will transfer more funds into Thailand Link to comment Share on other sites More sharing options...
willyumiii Posted June 29, 2015 Share Posted June 29, 2015 Every extra baht helps with mu US pension when converted! Thank you Barry Obama for repairing the Bush damaged US economy! Link to comment Share on other sites More sharing options...
Thai at Heart Posted June 29, 2015 Share Posted June 29, 2015 (edited) If the manufacturing and tourist industries are to survive the baht must weaken a lot further. It's a simple truth that the mathematicians and purists on this forum don't understand. A weakened baht, far weaker than it is now is inevitable and necessary in order for Thailand to be competitive in its main sectors. To the extent it doesn't weaken, will the extent to which Thailand continues to flounder. And the situation is critical. The USA printed money hand over fist for the last 5 years, now they don't, And now finally USD interest rates will go up.The BOT is largely powerless to control the value of the baht when the USA turns on or off the tap of USD. They can try to monitor domestic inflation which has been rising in Thailand, and will go even more of the baht goes to 35 with oil prices rising greatly. Interest rates go up, loans get more expensive and loans will dry up. The domestic economy will croak. Thus, it won't bring much saving to the bottom line in USD for exports. Costs of all inputs will rise. Edited June 29, 2015 by Thai at Heart Link to comment Share on other sites More sharing options...
Saan Posted June 29, 2015 Share Posted June 29, 2015 Because if he sold it at the same price today, 11,000,000 ... he would have lived rent free for 11 years, and had 19% more THB via currency changes. Now we all know that his condo probably has gone up in price ... a boat load in a decade .. so between market appreciation and currency working in his favor (if he elects to stay in the Kingdom) he is probably sitting on at least double. So really, put away your sour grapes and let him have his moment in the sun. (PS: can you please explain how at an average of 3% per annum of inflation, how a 4% bank deposit has any real value? BTW, WHEN was the last time you could get that yield on a bank deposit in the USA? You would have to go back 5 years to even get 4% on a 30 Year BOND! fer chisake) Oh, why do I preach to the unwashed? Because there is only you to do it. The rest of us can't afford to wash. Link to comment Share on other sites More sharing options...
andy8017 Posted June 29, 2015 Share Posted June 29, 2015 SOME Important USEFUL FACTS ABOUT COINS & CURRENCY(Or How Money Became Currency).Traditionally, the value of a coin was equal to the value of the metal it was made fromTHE POUND STERLING was originally, literally just that ,A Pound (lb.)of STERLING SILVER. - This was then split up into smaller pieces for daily use, to give change, you would count the smaller amounts and weigh larger amounts. You could chop a silver penny in half (hence the halfpenny)12 Troy Ounces = 1 troy pound.(As a footnote / to buy the same pound in weight of silver today would cost around £240.-50)But coins made from precious metals had their limitations, there was the traditional practice of 'CHINKING' gold coins together in a bag and collecting the dust and eventually you could gather enough dust together to make another lesser value coin. Or just trade the dust. That was Money! The following is CURRENCY----These Days The Physical value of the currency is far less than it's face value – particularly obvious when you think of a piece of paper, it's value is purely NOTIONAL, it is no longer based on the I PROMISE TO PAY THE BEARER ON DEMAND',it's true worth IN GOLD or SILVER from the Bank of England So a pound ,as a unit of currency, is a pound,it has no other meaning, It's just a piece of paper! And the more that are produced,(minted) the lower the value will become. (Quantatative Easing !. Or inflation , it's one and the same thing. With the same results.) Although the paper £1 note has all but disappeared from circulation in the U.K.,the principle is the same with the coins, in fact ,when the price of Copper increased substantially ,in the late 90's --- the 2p.coin was actually worth nearly 3p.---the SCRAP VALUE---- The Bank had to then find a way of minting the coins in steel with a copper coating (and a few other metals). The newer coins can be picked up with a MAGNET, not the older ,copper ones. Beware the Dollar !! Before you say I'll change it all into Dollars and I'll be OK. It costs the U.S. Mint 1.5 cents to make a 1 cent coin, and 6 cents to make a nickel (5 cents). A LOSS OF $22 MILLION LAST YEAR.. Furthermore ,the U.S. Is printing it's currency at an astonishing rate,(as are all other world economies) some would say 'UNSUSTAINABLE' rate. And as the WORLDS RESERVE CURRENCY, This WILL lead to all sorts of problems in the future. Link to comment Share on other sites More sharing options...
MILT Posted June 29, 2015 Share Posted June 29, 2015 This is really going to piss off the non-USA expats. My only question is: Why? Do you just hate the US so much that you will have to rant & rave about how we are manipulating the world? Unbelievable that you think we have that kind of power. Wish we did, but we don't...... ..."We" the people don't have the power to manipulate the world...yep! but them in Governments do. Link to comment Share on other sites More sharing options...
Acharn Posted June 29, 2015 Share Posted June 29, 2015 Some economists foresee 34? And many expect a crash. What would it be?! Which ones expect a crash? Got any names? Got any reasons? What kind of crash? Where? In the near term or the long term? Is the U.S. going to default on it's debt? Link to comment Share on other sites More sharing options...
Acharn Posted June 29, 2015 Share Posted June 29, 2015 Its been like a yo-yo today.. Well, it's all because the troika is trying to push Greece out of the European Union and nobody knows if they've succeeded yet or not, so the FX markets are in chaos. So far the troika has succeeded in shutting down the Greek banking system, and the terms they offered for financing were carefully designed to encourage the Greeks to vote for exit, but has it been enough? Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2015 Share Posted June 29, 2015 SOME Important USEFUL FACTS ABOUT COINS & CURRENCY (Or How Money Became Currency). Traditionally, the value of a coin was equal to the value of the metal it was made from THE POUND STERLING was originally, literally just that ,A Pound (lb.)of STERLING SILVER. - This was then split up into smaller pieces for daily use, to give change, you would count the smaller amounts and weigh larger amounts. You could chop a silver penny in half (hence the halfpenny) 12 Troy Ounces = 1 troy pound. (As a footnote / to buy the same pound in weight of silver today would cost around £240.-50) But coins made from precious metals had their limitations, there was the traditional practice of 'CHINKING' gold coins together in a bag and collecting the dust and eventually you could gather enough dust together to make another lesser value coin. Or just trade the dust. That was Money! The following is CURRENCY---- These Days The Physical value of the currency is far less than it's face value – particularly obvious when you think of a piece of paper, it's value is purely NOTIONAL, it is no longer based on the I PROMISE TO PAY THE BEARER ON DEMAND', it's true worth IN GOLD or SILVER from the Bank of England So a pound ,as a unit of currency, is a pound,it has no other meaning, It's just a piece of paper! And the more that are produced,(minted) the lower the value will become. (Quantatative Easing !. Or inflation , it's one and the same thing. With the same results.) Although the paper £1 note has all but disappeared from circulation in the U.K.,the principle is the same with the coins, in fact ,when the price of Copper increased substantially ,in the late 90's --- the 2p.coin was actually worth nearly 3p.---the SCRAP VALUE---- The Bank had to then find a way of minting the coins in steel with a copper coating (and a few other metals). The newer coins can be picked up with a MAGNET, not the older ,copper ones. Beware the Dollar !! Before you say I'll change it all into Dollars and I'll be OK. It costs the U.S. Mint 1.5 cents to make a 1 cent coin, and 6 cents to make a nickel (5 cents). A LOSS OF $22 MILLION LAST YEAR.. Furthermore ,the U.S. Is printing it's currency at an astonishing rate,(as are all other world economies) some would say 'UNSUSTAINABLE' rate. And as the WORLDS RESERVE CURRENCY, This WILL lead to all sorts of problems in the future. Worry less about what it costs to mint a penny, and more about what it (does not) costs to print a $100 bill. Link to comment Share on other sites More sharing options...
humqdpf Posted June 29, 2015 Share Posted June 29, 2015 Oh to be in Thailand now that the Baht is weak! Link to comment Share on other sites More sharing options...
IMA_FARANG Posted June 29, 2015 Share Posted June 29, 2015 My U.S dollar pension will be coming on 4 July.... let me see what I get this month for exchange rate. On June 4th actual rate was 33.367 baht per dollar direct deposit to Bangkok Bank. Hoping for a little bit better on 4 July this month, but doubt actual rate deposited will be 34 yet. Maybe August, if I am Lucky. Link to comment Share on other sites More sharing options...
TheAppletons Posted June 29, 2015 Share Posted June 29, 2015 SOME Important USEFUL FACTS ABOUT COINS & CURRENCY (Or How Money Became Currency). Traditionally, the value of a coin was equal to the value of the metal it was made from THE POUND STERLING was originally, literally just that ,A Pound (lb.)of STERLING SILVER. - This was then split up into smaller pieces for daily use, to give change, you would count the smaller amounts and weigh larger amounts. You could chop a silver penny in half (hence the halfpenny) 12 Troy Ounces = 1 troy pound. (As a footnote / to buy the same pound in weight of silver today would cost around £240.-50) But coins made from precious metals had their limitations, there was the traditional practice of 'CHINKING' gold coins together in a bag and collecting the dust and eventually you could gather enough dust together to make another lesser value coin. Or just trade the dust. That was Money! The following is CURRENCY---- These Days The Physical value of the currency is far less than it's face value – particularly obvious when you think of a piece of paper, it's value is purely NOTIONAL, it is no longer based on the I PROMISE TO PAY THE BEARER ON DEMAND', it's true worth IN GOLD or SILVER from the Bank of England So a pound ,as a unit of currency, is a pound,it has no other meaning, It's just a piece of paper! And the more that are produced,(minted) the lower the value will become. (Quantatative Easing !. Or inflation , it's one and the same thing. With the same results.) Although the paper £1 note has all but disappeared from circulation in the U.K.,the principle is the same with the coins, in fact ,when the price of Copper increased substantially ,in the late 90's --- the 2p.coin was actually worth nearly 3p.---the SCRAP VALUE---- The Bank had to then find a way of minting the coins in steel with a copper coating (and a few other metals). The newer coins can be picked up with a MAGNET, not the older ,copper ones. Beware the Dollar !! Before you say I'll change it all into Dollars and I'll be OK. It costs the U.S. Mint 1.5 cents to make a 1 cent coin, and 6 cents to make a nickel (5 cents). A LOSS OF $22 MILLION LAST YEAR.. Furthermore ,the U.S. Is printing it's currency at an astonishing rate,(as are all other world economies) some would say 'UNSUSTAINABLE' rate. And as the WORLDS RESERVE CURRENCY, This WILL lead to all sorts of problems in the future. Yaaaaaawwwwn. Oh, sorry, were you saying something? Link to comment Share on other sites More sharing options...
NovaBlue05 Posted June 29, 2015 Share Posted June 29, 2015 SOME Important USEFUL FACTS ABOUT COINS & CURRENCY (Or How Money Became Currency). Traditionally, the value of a coin was equal to the value of the metal it was made from THE POUND STERLING was originally, literally just that ,A Pound (lb.)of STERLING SILVER. - This was then split up into smaller pieces for daily use, to give change, you would count the smaller amounts and weigh larger amounts. You could chop a silver penny in half (hence the halfpenny) 12 Troy Ounces = 1 troy pound. (As a footnote / to buy the same pound in weight of silver today would cost around £240.-50) But coins made from precious metals had their limitations, there was the traditional practice of 'CHINKING' gold coins together in a bag and collecting the dust and eventually you could gather enough dust together to make another lesser value coin. Or just trade the dust. That was Money! The following is CURRENCY---- These Days The Physical value of the currency is far less than it's face value – particularly obvious when you think of a piece of paper, it's value is purely NOTIONAL, it is no longer based on the I PROMISE TO PAY THE BEARER ON DEMAND', it's true worth IN GOLD or SILVER from the Bank of England So a pound ,as a unit of currency, is a pound,it has no other meaning, It's just a piece of paper! And the more that are produced,(minted) the lower the value will become. (Quantatative Easing !. Or inflation , it's one and the same thing. With the same results.) Although the paper £1 note has all but disappeared from circulation in the U.K.,the principle is the same with the coins, in fact ,when the price of Copper increased substantially ,in the late 90's --- the 2p.coin was actually worth nearly 3p.---the SCRAP VALUE---- The Bank had to then find a way of minting the coins in steel with a copper coating (and a few other metals). The newer coins can be picked up with a MAGNET, not the older ,copper ones. Beware the Dollar !! Before you say I'll change it all into Dollars and I'll be OK. It costs the U.S. Mint 1.5 cents to make a 1 cent coin, and 6 cents to make a nickel (5 cents). A LOSS OF $22 MILLION LAST YEAR.. Furthermore ,the U.S. Is printing it's currency at an astonishing rate,(as are all other world economies) some would say 'UNSUSTAINABLE' rate. And as the WORLDS RESERVE CURRENCY, This WILL lead to all sorts of problems in the future. Yaaaaaawwwwn. Oh, sorry, were you saying something? Just needed to get it off his chest. There now....better Link to comment Share on other sites More sharing options...
Srikcir Posted June 29, 2015 Share Posted June 29, 2015 Its been like a yo-yo today.. Well, it's all because the troika is trying to push Greece out of the European Union and nobody knows if they've succeeded yet or not, so the FX markets are in chaos. So far the troika has succeeded in shutting down the Greek banking system, and the terms they offered for financing were carefully designed to encourage the Greeks to vote for exit, but has it been enough? The "troika" did not shut down the Greek banks. The ECB was loaning emergency funds to Greece to keep atm's open. But when the Greek people began a run on their banks by withdrawing the their bank balances at more than a $1 billion a week, the ECB stopped its loans. This was a very predictable action. To preserve the remaining capital in its banks, the Greek government closed the banks. This too was a very predictable reaction. If Greece had instead chosen to meet the terms and conditions of its EU creditors, the shutdown would not have happened. The new government made its choices to stay in power and the Greek people will suffer the consequences of their election of Tsipras. Link to comment Share on other sites More sharing options...
Srikcir Posted June 29, 2015 Share Posted June 29, 2015 Unfortunately for Thailand, a weakened baht now will do little to invigorate its economy. Exports will remain stagnant and possibly experience negative growth in terms of REVENUE due to weakened DEMAND for manufactured products and LOWER PRICES for agricultural products from oversupply. Possible EU and USA sanctions on Thailand seafood will further pressure the value of exports. Domestic household debt will rise further and strangle domestic consumption and real estate values. But the good news is that the Royal Thai Navy will have three new submarines and over 1,000 new generals! Link to comment Share on other sites More sharing options...
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