UK Exchange Rates

[thaijohn1947]

I understand that Thai Immigration presently use a rate of 50 baht to the pound when re-assessing income for renewing visa extensions. How often do they re-access the rates that they use?

I ask because with GBP dropping dramatically it could take me just below the 65,000 baht per month level. I will renew my extension in October 2016 and anything below 45 baht per pound will take me below the minimum level. Today i noticed that the Kassikorn Bank are offering a rate of just 44.78 baht to the pound and still dropping

I understand that I can use a combination of money in the bank and monthly income if necessary. Up until now monthly income has been sufficient but with money in the bank needing to be seasoned for three months, I will need to plan ahead now.

[ubonjoe]

Immigration uses the exchange rate on the date you apply for the extension.

[Jip99]

I thought they assessed it on the rate on the day you applied for your extension.

It would certainly be sensible to plan for additional money in the bank just in case.

Do you have your embassy letter already?

Not saying you should do this, but the embassy are not terribly thorough in scrutinising evidence for the income stated (which is why the letter says "John Smith states that his income is XYZ".

I am aware of applicants who have inflated their true income - as I said, I am not suggesting you do that - just saying that it has happened.

[Lamkyong]

no so in uk embassy they need original document proof of income before issuing a confirmation letter

i think some immigration are also applying the seasoning of funds if dual method is used

[Evilbaz]

KBank cash rate 44.02 as we speak.

If you use the income method you have to be a FX speculator for three months.

If you use the combo method Phuket requires 3 months "seasoning" of the top-up amount.

[sumrit]

I could be wrong (dementia's a wonderful thing) but about three/four/ five years ago I seem to remember the pound was quite volatile for a while and I'm sure I read/was told that Thai Immigration used a fixed rate (that they reviewed every week/month) because the daily rate could vary wildly, even in a single day.

Have Thai immigration changed the way they do their calculations...............or is my memory that bad and I'm mixing it up with something else?

[ubonjoe]

I could be wrong (dementia's a wonderful thing) but about three/four/ five years ago I seem to remember the pound was quite volatile for a while and I'm sure I read/was told that Thai Immigration used a fixed rate (that they reviewed every week/month) because the daily rate could vary wildly, even in a single day.

Have Thai immigration changed the way they do their calculations...............or is my memory that bad and I'm mixing it up with something else?

I have done 8 extensions using the income option and immigration has checked what the exchange rate is for the date I applied for every one of them.

[thai3]

I could be wrong (dementia's a wonderful thing) but about three/four/ five years ago I seem to remember the pound was quite volatile for a while and I'm sure I read/was told that Thai Immigration used a fixed rate (that they reviewed every week/month) because the daily rate could vary wildly, even in a single day.

Have Thai immigration changed the way they do their calculations...............or is my memory that bad and I'm mixing it up with something else?

I have done 8 extensions using the income option and immigration has checked what the exchange rate is for the date I applied for every one of them.

How low can it go before you cannot do this any longer? I imagine a lot are in the same boat

[ubonjoe]

I could be wrong (dementia's a wonderful thing) but about three/four/ five years ago I seem to remember the pound was quite volatile for a while and I'm sure I read/was told that Thai Immigration used a fixed rate (that they reviewed every week/month) because the daily rate could vary wildly, even in a single day.

Have Thai immigration changed the way they do their calculations...............or is my memory that bad and I'm mixing it up with something else?

I have done 8 extensions using the income option and immigration has checked what the exchange rate is for the date I applied for every one of them.

How low can it go before you cannot do this any longer? I imagine a lot are in the same boat

There is no limit on the number of extensions you do if that is what you are asking about. I will be doing number 9 at the end of this month.

[thai3]

I meant how low can the pound go before you can no longer qualify, others must be worried as well. Glad I have always kept 800k in the bank here, that was 12k sterling when sent over

[ubonjoe]

I meant how low can the pound go before you can no longer qualify, others must be worried as well. Glad I have always kept 800k in the bank here, that was 12k sterling when sent over

I am not concerned about the pound for myself. For me it is the USD and it would have to down a lot for it to be a problem for me. I do my extension based upon marriage so only need 40k baht income.

[Caspersfriend]

If Immigration do indeed base their calculations on some arbitrary 'current' rate on the day you apply for an extension, many Brits will be concerned. We should always make allowances for the exchange rate changing, but if you started your three months a month ago [when the rate was 50+] you might well base what you needed on 45/GBP. The way things are going it could be 40- when ----------they go for your extension as, even if there is a bounce-back, it is unlikely that would happen before the UK has a new PM and stable government; plus some convincing plan for the Brexit.

Time for some to say "If you are sailing that close to the wind you should not be here".

[abrahamzvi]

I could be wrong (dementia's a wonderful thing) but about three/four/ five years ago I seem to remember the pound was quite volatile for a while and I'm sure I read/was told that Thai Immigration used a fixed rate (that they reviewed every week/month) because the daily rate could vary wildly, even in a single day.

Have Thai immigration changed the way they do their calculations...............or is my memory that bad and I'm mixing it up with something else?

I have done 8 extensions using the income option and immigration has checked what the exchange rate is for the date I applied for every one of them.

How low can it go before you cannot do this any longer? I imagine a lot are in the same boat

The answer is, nobody knows. It can go even lower than 40 to the Baht, or, if some optimists are right, it could go back to 50. It's anybody's guess.

[sandgroper2]

no so in uk embassy they need original document proof of income before issuing a confirmation letter

i think some immigration are also applying the seasoning of funds if dual method is used

Ive only ever had to produce the stat. dec. from embassy. (stralia). What I write, is up to me. (I believe that is because Thai. Govt. know ozzies are more honest than other nationalities)

[Suradit69]

If Immigration do indeed base their calculations on some arbitrary 'current' rate on the day you apply for an extension, many Brits will be concerned. We should always make allowances for the exchange rate changing, but if you started your three months a month ago [when the rate was 50+] you might well base what you needed on 45/GBP. The way things are going it could be 40- when ----------they go for your extension as, even if there is a bounce-back, it is unlikely that would happen before the UK has a new PM and stable government; plus some convincing plan for the Brexit.

Time for some to say "If you are sailing that close to the wind you should not be here".

"If Immigration do indeed base their calculations on some arbitrary 'current' rate on the day you apply..."

Not sure why you would call it "arbitrary ." They would use the rate posted by one of the major banks. No more arbitrary than it would be to use some arbitrarily chosen rate from a previous, more favorable time, and possibly more realistic than assuming it will suddenly improve or worsen.

[hobobo]

I could be wrong (dementia's a wonderful thing) but about three/four/ five years ago I seem to remember the pound was quite volatile for a while and I'm sure I read/was told that Thai Immigration used a fixed rate (that they reviewed every week/month) because the daily rate could vary wildly, even in a single day.

Have Thai immigration changed the way they do their calculations...............or is my memory that bad and I'm mixing it up with something else?

Yes, it's bad and getting worse. But don't worry, you'll never remember your post anyway...

[shirtless]

I feel sorry for the guys that may be affected by the pound falling, its all swings and roundabouts with currency .

[Caspersfriend]

If Immigration do indeed base their calculations on some arbitrary 'current' rate on the day you apply for an extension, many Brits will be concerned. We should always make allowances for the exchange rate changing, but if you started your three months a month ago [when the rate was 50+] you might well base what you needed on 45/GBP. The way things are going it could be 40- when ----------they go for your extension as, even if there is a bounce-back, it is unlikely that would happen before the UK has a new PM and stable government; plus some convincing plan for the Brexit.

Time for some to say "If you are sailing that close to the wind you should not be here".

"If Immigration do indeed base their calculations on some arbitrary 'current' rate on the day you apply..."

Not sure why you would call it "arbitrary ." They would use the rate posted by one of the major banks. No more arbitrary than it would be to use some arbitrarily chosen rate from a previous, more favorable time, and possibly more realistic than assuming it will suddenly improve or worsen.

Correct usage of the word 'arbitrary' appears to be of most concern in my post; to yourself.

To those affected by the volatility of GBP/THB exchange rates, to the extent that their application for an extension may not comply, I would suggest that the rate used on the day of application is of most concern. Whatever rate Immigration apply, the fact that [due to unforeseen circumstances] this rate might be at very considerable variance to the rate that applied when the 'seasoning' period commenced is of more concern. Due to personal circumstances/preferences many retain investments/property elsewhere, and I am sure that many Brits would not have anticipated the immediate affects of Brexit that have occurred to GBP/THB exchange rates.

[NoshowJones]

If Immigration do indeed base their calculations on some arbitrary 'current' rate on the day you apply for an extension, many Brits will be concerned. We should always make allowances for the exchange rate changing, but if you started your three months a month ago [when the rate was 50+] you might well base what you needed on 45/GBP. The way things are going it could be 40- when ----------they go for your extension as, even if there is a bounce-back, it is unlikely that would happen before the UK has a new PM and stable government; plus some convincing plan for the Brexit.

Time for some to say "If you are sailing that close to the wind you should not be here".

Yes, the "if you don't like it go home" brigade are never far away.

[wileycoyote]

I hope the pound increases in the rate of exchange and you are ok

[Jip99]

I feel sorry for the guys that may be affected by the pound falling, its all swings and roundabouts with currency .

As it always was.............

THB per 1 GBP - 10 Years

11 Jul 2006 00:00 UTC - 7 Jul 2016 13:09 UTC

GBP/THB close:45.84616 low:43.57881 high:72.11935

[evadgib]

Doing the maths and having your findings available for when asked might prove useful. If your answer exceeds the bare minimum and your paperwork is neat and tidy you'll be rubber-stamped.

[Jip99]

I meant how low can the pound go before you can no longer qualify, others must be worried as well. Glad I have always kept 800k in the bank here, that was 12k sterling when sent over

SELL !!

It is almost 17k Sterling now.

Wait for the rate to get to 52 and transfer it back ..... wham! 83,000 Baht profit.

[Henryford]

The Pound will recover but i think it will be low, or even lower for the next year or two. The Pound was in the low 40s a year or so ago so no worse than that.

[OJAS]

I meant how low can the pound go before you can no longer qualify, others must be worried as well. Glad I have always kept 800k in the bank here, that was 12k sterling when sent over

You can work this out in your case by following these steps:-

(1) Convert your total monthly gross income into THB on the basis of your bank's GBP notes buying rate.

(2) Calculate the percentage which 65,000 THB represents of the result.

(3) Apply the resultant percentage calculation to the GBP notes buying rate used in the calculation at (1).

(4) Voila!

[Evilbaz]

If you've maintained 800K+ Baht in a Thai bank FX rates are irrelevant.

A Baht is a Baht is a Baht!

[swampdonkey]

If you've maintained 800K+ Baht in a Thai bank FX rates are irrelevant.

A Baht is a Baht is a Baht!

The topic is not about savings

[Evilbaz]

If you've maintained 800K+ Baht in a Thai bank FX rates are irrelevant.

A Baht is a Baht is a Baht!

The topic is not about savings

Some have suggested selling and buying back your lumpsum ...

[Seraphina]

I meant how low can the pound go before you can no longer qualify, others must be worried as well. Glad I have always kept 800k in the bank here, that was 12k sterling when sent over

I am not concerned about the pound for myself. For me it is the USD and it would have to down a lot for it to be a problem for me. I do my extension based upon marriage so only need 40k baht income.

Can I just check something, when you apply for a three month O visa, the bank letter is from your country of residence, but upon renewal - as opposed to extension - this has to be a result of the deposit in a Thai bank, correct?