The Baht

[Eneukman 1]

I've just given 60 days notice to transfer funds to my Thai bank account so I'm hoping the rate keeps going towards 73 to the £. Of course, knowing my luck, it will start moving in the opposite direction a few daus before my transfer goes ahead!

 

Alan

[ben99 0]

Baht still holding around 70.1/£. Looking good - difference between 66 and 72.6 is a massive 10%.

 

That's 10% more fun or spend 10% less money. It touched 66/£ only a few weeks ago.

 

Would not be surprised to see it slide towards 74/£ over the next two months.

 

Edited May 9, 2006 by ben99

[THE_DRUID 21]

Baht still holding around 70.1/£.  Looking good - difference between 66 and 72.6 is a massive 10%.

 

That's 10% more fun or spend 10% less money.  It touched 66/£ only a few weeks ago.

 

Would not be surprised to see it slide towards 74/£ over the next two months.

 

     

Roll on into the 70's i say.I'm there in June so if it keeps up the pace of the last week then we're laughing.Tonight it's 70.32 on the BBC1 ceefax page 241,which isn't far off what you get using the Nationwide flex account card(remember no charges with this card).On X-E website it's 70.26 and this morning the Bangkok bank rates were cash 68.64, T/C's 69.54.No need to use cash nowadays or T/C's as the Nationwide card is the way to go with a top rate.I do take some cash just for emergencies,but my first choice is definitely the Nationwide Flex account card.

Druid

[ben99 0]

TC's are good, if ATM eats card. TC's can be replaced within 24 hours if stolen. So use ATM and fall back on TC's as your last line of defence.

[York 0]

Best to enjoy the current exchange rate while it lasts since Thai economy is getting stronger and stronger every year. Give this fact, prices will rise for the worst. I don't know in how many years but don't be surprise to pay double in ~10 years.

[ben99 0]

Well can it all wait until I return home.

 

Ta!

 

[ranger 0]

£ rises 1.4% against the baht today

[THE_DRUID 21]

£ rises 1.4% against the baht today

Yeah i just got in from work and turned on the BBC teletext to see the pound at 71.22 up from yesterdays 70.08 close!!!!The pound up by 2 cents on the US$ also.Hope it keeps going for the next 3 1/2 weeks.

[floppyjack 0]

gotta say..... was in pattaya in april..... over here in england before i went i got 61. something to the pound....... over there i got 64. somthiing to the pound.....raiseng to 67. something just take as much as you think you will need for the first night in thai baht and then the rest in stirling and just change it over there ....i know in the uk the post offices sell the bath but im sure you will get a better deal if you change stirling over there.

[cookie 1]

The reason for the relative strength of the Thai baht over the past few months has been the high level of foreign investment into the country. There are many investors from Singapore, China and other asian countries that see Thailand as a good place to invest due to growth potential and a strong stock market.

 

The Baht will always be strong over December and January due to the particularly high levels of toursits at these times - again it is investment into the country.

 

We are now seeing the Baht fall against the GBP, which has become very strong over recent weeks, and now back to B70 to 1GBP.

 

It is likely that continuing oil price rises will take their toll on the Baht over the next few months as Thailand is the largest per capita SE Asian consumer of oil as well as being the least energy effecient. I would expect to see the Baht weaken against all major currencies over the next three months and be at around B74/B75 to the GBP in July.

 

The present political situation appears to be having little or no effect on the currency although that could change very quickly depending on what happens at the "next" election - it does seem like they have one every week!!

 

Advice for anyone holidaying in Thailand between November to March of any year is to get at least 50% of your spending money in Thai Baht during the middle of the year when you will be assured of a far better rate - as much as a 15% differnetial between mid 2005 and early 2006 - that is a lot of beers!!

[THE_DRUID 21]

gotta say..... was in pattaya in april..... over here in england before i went i got 61. something to the pound....... over there i got 64. somthiing to the pound.....raiseng to 67. something just take as much as you think you will need for the first night in thai baht and then the rest in stirling and just change it over there ....i know in the uk the post offices sell the bath but im sure you will get a better deal if you change stirling over there.

I never have and would never advise anyone to buy Baht in the Uk.The rate as stated in the above quote is piss poor.Also There is no need as their is always an exchange booth open both before and after you pass through customs in Don Muang airport.The rate at the airport is also favourable.ATM machinnes are also in abundance in the arrivals terminal.So there is certainly no need to change £ into Baht back home.Don't be fooled by these 'No Commission' deals at the Post Office and various Travel Agents as you are hit by the poor rate of exchange they are offering(in comparison to los) instead.

Druid.

[Eneukman 1]

Checked the forex rate a few minutes ago and it's now 71.35 to the £.

 

Alan

[ben99 0]

Lads - mid price around 71.7/£ as we hit the new working week

 

£ shows no sign of backing off. Should ease nicely past 72.0/£ on Monday. I don't care about the weak dollar, as I'm English and use the mighty £

Edited May 14, 2006 by ben99

[THE_DRUID 21]

Lads - mid price around 71.7/£ as we hit the new working week

 

£ shows no sign of backing off.  Should ease nicely past 72.0/£ on Monday.  I don't care about the weak dollar, as I'm English and use the mighty £

Yeah will be cheering the Pound on untill los and for 3 weeks when i'm there!!!

 

Here's a couple of handy links to add to your favourites.

Druid

 

http://www.bangkokbank.com/Bangkok+Bank/Pe...tes/default.htm

 

http://www.financial-index.co.uk/currency-converter.htm

[sinbinjack 251]

Hi all yester day I changed 500 pounds of TCs into baht and got 35652baht,the rate for cash would have been almost 300 less and this was after charges.On the day I arrived (20thapril)I got 66.5 baht to the pound I am feeling much richer now

[soi unwise 6]

Hi all yester day I changed 500 pounds of TCs into baht and got 35652baht,the rate for cash would have been almost 300 less and this was after charges.On the day I arrived (20thapril)I got 66.5 baht to the pound I am feeling much richer now

 

 

 

All you got to do now pal is SPEND IT !

Or is it true about the frugal jocks ?????

 

[pattysteve 34]

Sinbin

 

Ive always advocated using TC's,not only for the slightly better exchange rate but the safety.Of course you must make sure you arent paying any charges to buy them in your bank.I dont

 

Also that you get largest denominations possible

Edited May 16, 2006 by pattysteve

[Treebeard 0]

Sinbin

 

Ive always advocated using TC's,not only for the slightly better exchange rate but the safety.Of course you must make sure you arent paying any charges to buy them in your bank.I dont

 

Also that you get largest denominations possible

No charges!! that's good. Which bank do you use ??

 

[pattysteve 34]

No charges!! that's good. Which bank do you use ??

 

Im with Barclays and providing you get a small amount of Baht in cash

TC's are free from charges.

[Treebeard 0]

Im with Barclays and providing you get a small amount of Baht in cash

TC's are free from charges.

Thanks for the reply

 

Nationwide for me. I wonder if they will do something similar ?

[THE_DRUID 21]

Thanks for the reply 

 

Nationwide for me. I wonder if they will do something similar ?

Nationwide charge 1% for T/C's. A lot of Uk Banks only give you commision free T/C's if you buy them in foreign currency.No point really as you are then changing your money twice.Don't know whether they are still doing it but if you have a Natwest current account,you could upgrade this to what they called an advantage gold account,the charge for this was £8 per month,many benefits included commisssion free T/C's in £sterling.Now the upside/loophole for the punter was you could have a 2 month trial period after which you could cancel the advantage gold account and revert back to a normal current account.Your £16(for two months) which was debited out of your acount was refunded after cancellation.Therefore costing you zilch!I did this 3 times.I always opened the account a couple of weeks before my trip and ordered my T/C's, then cancelled as soon as i got home.I would have thought that they would only have let me join once and then refuse me the next time,but talking to a customer relations officer she said she wasn't aware that their was a limit to the amount of times you could do this.Obviously if they see a pattern and decided that people were abusing the scheme they'd alter their attitude.More than likely not many people were doing this so it was no big deal.I was doing this up untill a few years ago when i reverted to just using my nationwide card(which IMO is still for me the way to go).I know that Natwest still have Advantage gold but i'm not sure if they still have the refundable trial period.By the way the T/C's issued by Natwest are Amex.

Druid.

[nidnoyham 30]

Im with Barclays and providing you get a small amount of Baht in cash

TC's are free from charges.

If Barclays miserly exchange rate is anything to go by, they have made enough on your cash to cover your TC's.

[THE_DRUID 21]

Nationwide charge 1% for T/C's. A lot of Uk Banks only give you commision free T/C's if you buy them in foreign currency.No point really as you are then changing your money twice.Don't know whether they are still doing it but if you have a Natwest current account,you could upgrade this to what they called an advantage gold account,the charge for this was £8 per month,many benefits included commisssion free T/C's in £sterling.Now the upside/loophole for the punter was you could have a 2 month trial period after which you could cancel the advantage gold account and revert back to a normal current account.Your £16(for two months) which was debited out of your acount was refunded after cancellation.Therefore costing you zilch!I did this 3 times.I always opened the account a couple of weeks before my trip and ordered my T/C's, then cancelled as soon as i got home.I would have thought that they would only have let me join once and then refuse me the next time,but talking to a customer relations officer she said she wasn't aware that their was a limit to the amount of times you could do this.Obviously if they see a pattern and decided that people were abusing the scheme they'd alter their attitude.More than likely not many people were doing this so it was no big deal.I was doing this up untill a few years ago when i reverted to just using my nationwide card(which IMO is still for me the way to go).I know that Natwest still have Advantage gold but i'm not sure if they still have the refundable trial period.By the way the T/C's issued by Natwest are Amex.

Druid.

Just checked on the Natwest website Advantage Gold is available for a 90 day moneyback guarantee trial @ £12 per month.Travel insurance is also one of the perks but not sure what type(haven't looked into it).it's all on the website and you can join online or in your local Branch.if you're a fan of T/C's Worth checking out especially with them being commission free.

Druid

[Big Chief 0]

Big Chief want to speak to pale face about Philippine pesos. Pale face do wise thing if change pesos into dollar before leave island of Philippine. Will lose many face paper when trade for Thai face paper. Thai do not want Philippine face paper. Big Chief travel to Philippine many time, and finally Big Chief get smart. No want lose face paper.

[ben99 0]

Thanks for the reply

 

Nationwide for me. I wonder if they will do something similar ?

http://www.nationwide.co.uk/travel/travel_money/buy.htm

 

I've just had my fee free, Sterling TC's delivered through Nationwide.

 

The only charge was a £3.50 delivery charge, with delivery next day.

 

What you pay for is what you get. All you need is a Flexi account that can be debited.

 

I phoned up, using the number quoted, as I wanted specific denominations.