Is now a good time to change Baht to U.S. Dollars?

[VIPinthailand]

I m an international economist. don't listen others.

my answer is keep your money where it is. each time you change it, move it, transform it.... , suckers are waiting for their %. spend your bahts in Thailand...

[SpokaneAl]

I m an international economist. don't listen others.

my answer is keep your money where it is. each time you change it, move it, transform it.... , suckers are waiting for their %. spend your bahts in Thailand...

Where else would one spend baht?

[Time Traveller]

I m an international economist. don't listen others.

my answer is keep your money where it is. each time you change it, move it, transform it.... , suckers are waiting for their %. spend your bahts in Thailand...

Where else would one spend baht?

don't insult the "international economist".

[Thailaw]

I m an international economist. don't listen others.

my answer is keep your money where it is. each time you change it, move it, transform it.... , suckers are waiting for their %. spend your bahts in Thailand...

Ok, its good that you are an "international economist". Based on your post, I would have guessed that you are just a run-of-the-mill idiot.

[jwdub]

..............and now ...here is a big razzzzzz to all those goofyballs that thought the dollar was a bad investment.

got a hefty load of dollars in my savings now...and joyful you non believers were all wrong. In 3 or 4 years, my retirement (in dollars) has not changed...but I now am averaging 18,000 baht more a month (compared to 4 years ago).

That is a whopping 200,000 extra a year.

razzzzzzzzzzzzzzzzzzzzzz

well done slippery lobster. Still believe more upside in Dollar

No kidding. The USD is really starting to take off. I thought it had a chance to hit 35 by the EOM. Now it looks like it may get there by the end of the week.

[SGX]

Maybe the International Economists can give us a clue to the outcome from swap of US denominated Bonds to RMB denominated Bonds later this year.

This should have an impact on USD when it starts.

[Langsuan Man]

This is just part of a long glacial increase in the value of the dollar. If I needed a big ticket item this would probably be a smart time to buy, if you needed a new car anyway, I but not to chase the currency because of it. A " whole" Baht psychologically sounds like a lot but in the practical world it really isn't all that much. Just remember how long it took to get here

[peterjackson]

Bangkok Banks 4th increase of the day, posted at 11.05am local time, has the TT rate at USD 34.70 & GBP 53.99. Money Exchanger in Chiang Mai giving USD 34.74 & GBP 54.21 this morning.

[SGX]

Bank will never give top rates.

NZ and oz cutting rates ouch.

Looks like a US Rate hike will come in now if 50 BPS that is still positive.

[Naam]

Bank will never give top rates.

NZ and oz cutting rates ouch.

Looks like a US Rate hike will come in now if 50 BPS that is still positive.

i hate to make predictions but i think "50bps = no way José!" although i would like it very much.

[Thailaw]

The US$/THB exchange rate "may" go higher, it probably will. But, given the present exchange rate (this morning B34.78/$1 at Super Rich) and the uncertaintly of future events, it is time to exchange at least some $ into THB. Obviously, if you think that the Dollar will appreciate more, you would exchange less Dollars; if you think that it is at or near its peak wrt the Baht, you should exchange more. Probably not all (and certainly not none) in either event. But capturing this 5 year high in the value of the Dollar, at least to some extent, is prudent IMO. Diversification comes in many forms, and timing of exchange is one.

[Naam]

Maybe the International Economists can give us a clue to the outcome from swap of US denominated Bonds to RMB denominated Bonds later this year.

This should have an impact on USD when it starts.

and who, pray tell, will be swapping what value from USD to CNY? i think you are referring to a potential inclusion of CNY in Special Drawing Rights. but that wouldn't, in my [not so] humble opinion, affect the USD exchange rate. moreover, there are no "bonds" per se involved plus any impact would be on a pro rata basis (USD share of SDR is only ~42%).

[SGX]

Bank will never give top rates.

NZ and oz cutting rates ouch.

Looks like a US Rate hike will come in now if 50 BPS that is still positive.

i hate to make predictions but i think "50bps = no way José!" although i would like it very much.

Exactly who knows..

[Naam]

Bank will never give top rates.

NZ and oz cutting rates ouch.

Looks like a US Rate hike will come in now if 50 BPS that is still positive.

i hate to make predictions but i think "50bps = no way José!" although i would like it very much.

Exactly who knows..

i'm just thinking aloud but i have strong doubts that Yellen makes a 0.25 move already in september as a number of @nalysts predict.

[slipperylobster]

..............and now ...here is a big razzzzzz to all those goofyballs that thought the dollar was a bad investment.

got a hefty load of dollars in my savings now...and joyful you non believers were all wrong. In 3 or 4 years, my retirement (in dollars) has not changed...but I now am averaging 18,000 baht more a month (compared to 4 years ago).

That is a whopping 200,000 extra a year.

razzzzzzzzzzzzzzzzzzzzzz

well done slippery lobster. Still believe more upside in Dollar

No kidding. The USD is really starting to take off. I thought it had a chance to hit 35 by the EOM. Now it looks like it may get there by the end of the week.

Perhaps today...

the climb is unusually rapid. Looks like there is a "goal" in mind...and that it must reach that goal quickly..... Might of been some high handed adjustment to a longtime "leash" on the baht. It was steady for an unusual amount of time.... looks like it was held underwater and now some octopus has just let go, and it is shooting to the surface for air. (34.86)

Edited July 23, 2015 by slipperylobster

[SGX]

Maybe the International Economists can give us a clue to the outcome from swap of US denominated Bonds to RMB denominated Bonds later this year.

This should have an impact on USD when it starts.

and who, pray tell, will be swapping what value from USD to CNY? i think you are referring to a potential inclusion of CNY in Special Drawing Rights. but that wouldn't, in my [not so] humble opinion, affect the USD exchange rate. moreover, there are no "bonds" per se involved plus any impact would be on a pro rata basis (USD share of SDR is only ~42%).

Maybe i miss understood it. Which is a good thing.. Thanks for reply

[farang000999]

Nobody on Thai Visa can predict currency rate fluctuations better than the market. It could go up or go down. What you should know is that whatever you buy/sell today is at the market price. It really is not a big deal. Trying to time currency exchange rates is just internet bs

[SunLover2]

I think the Kingdom has a decent amount of influence on the movement of the Baht. It is relatively thinly traded, and usually does not move in tandem with macro market moves. That is also the case this time as it seems to be getting weaker faster against the USD than neighboring SEA currencies.

I am interested in trying to understand the bigger issues that might be causing this, like:

* Potential interest rate rise in the US

* Weak commodity prices effecting the AUD (a major trading partner)

* Weakness in China

* Price of gold is down

* Jobs and foreign investment are being lost to other SEA countries

* Economic slowdown in Thailand (loss of tourism)

* Inevitable change in the Monarchy (long-term social stability)

If I was in an ex-pat situation I would keep my investments in my home country currency, 1-2 years of living expenses in local currency, and replenish my local currency fund on a regular basis. With the USD surging I might heavy up on replenishing the local currency fund but nothing too crazy.

SunLover

[VIPinthailand]

buy gold, silver,... avoid paper!

[slerickson]

Yippee. At about 35 bt to the dollar! I'd be holding off on exchanging for baht or getting dollars now if that's what you need.

[SGX]

I wont say i told you so haahha

[SGX]

buy gold, silver,... avoid paper!

lightly buy in Agree, Too many short the paper.

I expect Gold fall briefly below 1000 before they cover for next tilt higher.

[SGX]

I think the Kingdom has a decent amount of influence on the movement of the Baht. It is relatively thinly traded, and usually does not move in tandem with macro market moves. That is also the case this time as it seems to be getting weaker faster against the USD than neighboring SEA currencies.

I am interested in trying to understand the bigger issues that might be causing this, like:

* Potential interest rate rise in the US

* Weak commodity prices effecting the AUD (a major trading partner)

* Weakness in China

* Price of gold is down

* Jobs and foreign investment are being lost to other SEA countries

* Economic slowdown in Thailand (loss of tourism)

* Inevitable change in the Monarchy (long-term social stability)

If I was in an ex-pat situation I would keep my investments in my home country currency, 1-2 years of living expenses in local currency, and replenish my local currency fund on a regular basis. With the USD surging I might heavy up on replenishing the local currency fund but nothing too crazy.

SunLover

If you interested best go book store in Siam paragon. They have great books explaining the above. Start with Macro Economics after you bored with that move into Understanding Commodities.

Monarchy has no bearing on anything except point of interest for the citizens.

[PCA]

well see well above 36 in USD/THB and not in the long distant future.

so to the OP if you can wait a bit then do it.

[SunLover2]

well see well above 36 in USD/THB and not in the long distant future.

so to the OP if you can wait a bit then do it.

The OP wanted to sell Baht and buy US dollars. If the USD does indeed go higher in the future; now would be the time to execute on that.

But investing does not have to be an all-or-nothing decision. There is always the dollar cost averaging method of establishing a financial position.

SL

[PCA]

well see well above 36 in USD/THB and not in the long distant future.

so to the OP if you can wait a bit then do it.

The OP wanted to sell Baht and buy US dollars. If the USD does indeed go higher in the future; now would be the time to execute on that.

But investing does not have to be an all-or-nothing decision. There is always the dollar cost averaging method of establishing a financial position.

SL

ok, got it so don't wait OP.

lol and thanks to you SL I haven't really noticed/

Edited July 23, 2015 by PCA

[suzannegoh]

I am converting my savings to THB because I don't need USD in Thailand and I need to pay a dowry eventually. Anyway, my salary is paid in USD to my US bank and my "savings" is actually recently sold stock, as I am expecting a Fed rate hike later this year that will force a market correction. I am not a forex trader, but neither am I ignorant of the indicators that forex traders monitor to update their algorithms. It is likely that the USD will gain on the THB in the short-term, especially when (or if) the Fed raises rates, but the dollar is already overvalued compared to other currencies. If you are not in a hurry to trade THB for USD, just wait; your purchasing power will increase.

Nobody forces you to respect or listen to economists just as nobody forces you to respect or listen to doctors. Doctors ensure your health, while economists ensure your wealth. Economics cannot be a natural science because human behaviors cannot be defined in unfalsifiable models.

ACH is an acronym of sorts for Automated Clearing House. To oversimplify, it's the financial settlement system for transferring money in the U.S. banking system. U.S. federal law limits the number of ACH transactions per month from a US savings account to six but - to my knowledge - there is no limit on amounts.

As you mentioned, you would have no difficulties wire transferring money from the proceeds of a property sale.

US domestic ACH transfers to Bangkok Bank are a cost-effective way to exchange USD for THB as the transfer is free (depending on your bank), BKKBK charges very little and the exchange rate is excellent. My two banks both limit ACH transfers to $5000 per day or per transfer. I can increase the limit upon request, of course, but that could raise suspicions within the bank or the IRS when the money is leaving the country, or so I've heard. For me, international wire transfers take too long, are expensive and will need to be reported to the IRS if over $10000. I am not a tax professional, so I don't know what the IRS is up to, but I'm sure they could come up with some reason to tax me.

Are you American? You have done ACH transfers from BKK Bank in NY to Thailand??? I called New York and they told me they do not do ACH transfers to BKK, Do wires though. I want to do ACH.

Maybe when you called the New York branch they misunderstood your question. ACH is definitely an option with BKK Bank. You ACH your money through their NY branch and they automatically credit it to your account in Thailand. See details at this link:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

Edited July 24, 2015 by suzannegoh

[Pib]

But as a person whose income come via US dollars, I do hope to see Forex traders smiling like below before years end.

Capture.JPG

Well, according to Bloomberg, the baht broke through 35 very briefly around 5am U.S. Eastern Time/4pm Thailand time today. See below chart...notice the day range with an upper mark of 35.03. So, some Forex traders are now missing some front teeth. Be interesting to see were it goes during the U.S. daylight trading today....close above or below 35.

I'm surprised (pleasantly) the baht has depreciated so fast over the last month...figured it would take longer to get to to 35 baht/USD.. Now if it can get up to around 35.2 on Forex markets that will result in the Thai bank TT Buying Rate used for incoming wire transfers and Visa/Mastercard exchange rates getting to 35.

[SunLover2]

I'm surprised (pleasantly) the baht has depreciated so fast over the last month...figured it would take longer to get to to 35 baht/USD.. Now if it can get up to around 35.2 on Forex markets that will result in the Thai bank TT Buying Rate used for incoming wire transfers and Visa/Mastercard exchange rates getting to 35.

I normally change cash for baht, and the arab money shops in the lower Sukhumvit area usually exchange at .1 THB less than the Forex rate for the latest issue and pristine $50 and $100 USD bills. FWIW the main branch of SuperRich is usually about the same. I understand it is an apples to oranges comparison vs TT, but it is the matrix I use when trying to calculate the exchange rate I will be receiving on the ground in Bangkok.

SL