Thai Baht losing against Western currencies

[ozibill]

The exchange rate is much more relevant to the expats than the 2/3 week visitor - The latter will bemoan the rate but still come and still spend his money - after all, this is his holiday - but expats are living here and most have a wife , permanent girlfriend or a partner so the Barfines are an incidental - it is the everyday expenses that affect the expat - electricity , TV packages , Petrol , Food (Farang) , etc - whilst expats indulge in the Bar scene , it is not the same priority as it is for the tourist.

[jacko]

The exchange rate is much more relevant to the expats than the 2/3 week visitor - The latter will bemoan the rate but still come and still spend his money - after all, this is his holiday - but expats are living here and most have a wife , permanent girlfriend or a partner so the Barfines are an incidental - it is the everyday expenses that affect the expat - electricity , TV packages , Petrol , Food (Farang) , etc - whilst expats indulge in the Bar scene , it is not the same priority as it is for the tourist.

Bloody electric is going up again.... and can I get the dopey woman to turn off the light after she has done!

[papillon]

Yeah, right. Bar fines of 1500 baht are unavoidable, uh huh.

You're a Muppet if you believe that.

 

Remind me how much the barfine was for Agency Coyotes in your bar?

[MM]

 

Remind me how much the barfine was for Agency Coyotes in your bar?

Doesn't matter. You don't have to pay the high bar fines if you don't want, since there are cheaper options available.

 

Simple, really.

[Nightrider]

Bloody electric is going up again.... and can I get the dopey woman to turn off the light after she has done!

 

 

Turn off the air con and use a fan , far cheaper........

[jacko]

Turn off the air con and use a fan , far cheaper........

Just can't handle it, my bedroom has double glazing and seems to get warm when we are in it, so the AC runs all night.

Too much early morning noise from the damned Wat to leave windows open.

Got a few guests at the moment and bet the place is lit up like Blackpool in September.

[Keen Punter]

All the increased bar fines are just bullshit. If everybody just stopped paying them, they would come down. I know the bars need to make money but lets be fair about this.

 

Freelancers are going to get a lot of work and the BG's are going to loose out. Guy's just can't afford these prices every night.

The reality is that they are set that way not to make money, but to discourage the girls leaving the bar. I think MM explained why they were 1500 and his explanation made sense.

 

When Gogos try to charge 1500 for their own girls, then it takes the piss. Even the 1000 for coyotees at Secrets takes the piss. There is a bar on Soi 7 charging 500, that takes the piss for soi 7.

 

But there are still hundreds of bars charging 300 and freelancers so I don't let it bother me.

[MeGoDanceNow]

Just ran across this interesting post in the comments section on Zero Hedge:

 

I live and work in Thailand, and have been a resident for many years.

The irony of this of course is that Thailand IS Greece. Currently Thailand has a populist government which is pursuing grossly unsustainable economic policies in order to buy votes. There is a monster housing bubble here (try walking more than 5 meters in Bangkok without bumping into a billboard for a new condo). Household debt is at terrifying levels and the loan default rate is now beginning to soar, which forced Thailand's central bank to issue a formal warning last week.

The government has juiced the economy in countless ways, from disastrous car-buying schemes (which less than 1 year later saw a massive default rate on auto loans) to an epic financial failure of promising farmers double the market rate for rice. (How does that work in the long term?).

The banking sector is already starting to wobble, and last week the central bank demanded that banks raise loan-quality standards to "high levels" by requiring a minimum of a 5% down payment on all home purchases.

Yes, you read that right: They *raised* the minimum to 5%. OMG.

The reason Thailand's economy is soaring is for the same reasons that Greece was soaring back in 2005. Tyler, try making a chart of nations ranked by household debt-to-income, and you'll discover the secret to the supposed economic miracle of Thailand. There is absolutely no question that this house of cards will collapse. This party too, must end. Probably sooner than later.

Thailand IS Greece in so many ways.

 

 

I predict we'll see a big crash in the value of the baht within a year or two. It feels bubbly.

[torque]

So you're saying I'll be back at 42 baht per dollar, and girls surging into P4P from all corners of Thailand at the same time as the domestic debt-backed boom goes bust.

 

Sounds good to me. :)

[ZARIS]

I agree there are great similarities to Greece and Thailand. Both countries are well know for having their women take it in the ass .

[jacko]

Just ran across this interesting post in the comments section on Zero Hedge:

 

 

 

I predict we'll see a big crash in the value of the baht within a year or two. It feels bubbly.

Shit, don't tell me my Thai bank accounts are risky now!

For sure they will have the farang money sitting there first!!!!!

[bratpack]

I agree there are great similarities to Greece and Thailand. Both countries are well know for having their women take it in the ass .

Plenty of grease for the greeks hehehehehe

Edited October 3, 2013 by bratpack

[Gonzo]

Just ran across this interesting post in the comments section on Zero Hedge:

 

 

 

I predict we'll see a big crash in the value of the baht within a year or two. It feels bubbly.

The way I look at investments and currencies, I find it difficult to guess what is in store for us in the short and long future. All the old more reliable investment rules seem to have gone out the window. Normally, I would transfer more money into my Thai accounts whilst here in Oz. I will refrain from doing so this time, despite the Aussie $ having tanked a little against most currencies and likely to go down further. We had a good run with our currency exchange for quite some unlike many other Western countries.

[MeGoDanceNow]

Shit, don't tell me my Thai bank accounts are risky now!

For sure they will have the farang money sitting there first!!!!!

 

 

Remember how the troika creamed their jeans at the Cyprus buy-in? "This is a wonderful model! We should try this in Spain! In Portugal!"

 

When the hammer falls, TPTB will suddenly notice that a lot of farang have bank accounts in Thailand....

[jacko]

Remember how the troika creamed their jeans at the Cyprus buy-in? "This is a wonderful model! We should try this in Spain! In Portugal!"

 

When the hammer falls, TPTB will suddenly notice that a lot of farang have bank accounts in Thailand....

You do realise how much consternation you are causing here don't you?

[Patna]

You do realise how much consternation you are causing here don't you?

Don't believe he does. I must point out, however, that Cyprus is not Greece.

[blu38]

Are the bar fines really 1500B now

Doesn't matter. You don't have to pay the high bar fines if you don't want, since there are cheaper options available.

Simple, really.

[jacko]

Are the bar fines really 1500B now

No......

Perhaps for a coyote in some places.

620 baht at Superbaby.... odd amount.

[MeGoDanceNow]

You do realise how much consternation you are causing here don't you?

 

Sorry for harshing your mellow. I'm just the messenger.

[Stlakid]

Doesn't matter. You don't have to pay the high bar fines if you don't want, since there are cheaper options available.

 

Simple, really.

Listen to Martin!!

 

When my friend and I were in 'Queen' last year and asked for the bar-fine amount I actually broke out in laughter! The girl wanted something like 3600 short time too!

I did my part I laughed, (which did not faze her, so I was not the first!) check bin, and left! This is not to say that both of the girls were not absolute stunners, THEY WERE, one was Playboy material! Still the price is out of line IMHO and I do my talking with my feet.

[papillon]

Yes in some places.

 

Are the bar fines really 1500B now

[blu38]

I remember beer bars were 120B about 20 years ago.

[Nightrider]

Are the bar fines really 1500B now

 

They are if you have a hole in your head where your brain used to be and are prepared to pay it , i would rather have a wank than pay a 1500 b B/F .

[DrPat]

A quick update on actual exchange rates. In BKK, using my UK Halifax Clarity credit card (no loading for foreign currency & no cash advance fees), on 9 October 20,000 baht cost 400.16 GBP - to save you that pesky arithmetic, that's 49.98 Baht per £. This was using a Citibank ATM on the corner of Asok and Sukhumvit.

 

The following day (10 October - again, saving you the arithmetic) I got a rate of 49.79 using the Aeon ATM in the basement of the Terminal 21 shopping mall, which is less than 200 yards from the aforementioned Citibank.

 

Neither of these banks charge the traditional 150 baht fee. It is also worth noting that the Citibank ATMs only require you to swipe your card, so there is no chance of the card being eaten by the machine.

 

Just curious to know if anyone changed cash on those days. If so, what was the rate?

 

 

Edit: To get that pesky '£' sign to show. (Alt + 0 1 6 3).

Edited October 12, 2013 by DrPat

[MeGoDanceNow]

 

 

 

 

Edit: To get that pesky '£' sign to show. (Alt + 0 1 6 3).

 

 

option + 3 on a real computer.