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Displayed prices are for multiple nights. Check the site for price per night. I see hostels starting at 200b/day and hotels from 500b/day on agoda.
Chang_paarp

The rate on the street.

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Posted (edited)

Having to keep that minimum 800,000 baht in the bank for most of a year limits our flexibility as to how long we can wait to top up from the UK.

Sometime ago back when the pound was 60+ to the baht and 1 baht gold bars were around 16,000 baht......I built up a little nest-egg of 50 baht gold that I keep in a bank deposit box....Gold is around 19,000 for 1 baht now..... it went up to 23,000 at one point......Perhaps i should have sold it then......But it means for me......

I have until October before my bank balance nears 800,000 but I've decided I will sell it all if the pound doesn't recover...That will give me another 10 months before I have to transfer money from the UK and accept a shit rate.......  Or consider it's time to go home run down my 800,000 keep my condo and just have extended holidays here.

I still hope with all my heart that we leave the EU on 31st October........ 

Edited by atlas2

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Posted (edited)
1 hour ago, atlas2 said:

.

Sometime ago back when the pound was 60+ to the baht and 1 baht gold bars were around 16,000 baht......I built up a little nest-egg of 50 baht gold that I keep in a bank deposit box....Gold is around 19,000 for 1 baht now..... it went up to 23,000 at one point......Perhaps i should have sold it then.....

Hi,

Gold is getting stronger at the moment. Bad time to sell with all the potential for war in the air.

Edited by wacmedia
software problem

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Posted (edited)

Ooof.That's painful.

65 php to the sterling through Kabayan remittence which isn't much of a picnic either.

Edited by Butch

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2 hours ago, midlifecrisis said:

if the USD drops below 30 I am not sure it is worth it.

What would be the alternative?

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Just read this on Pattaya news. 

Thailand-

The Tourism Ministry of Thailand reported yesterday, June 20th, 2019, the following news in regards to tourism arrivals in Thailand and the news isn’t positive:

-A total of a 1.03% drop in the total number of tourists year over year in May.

-A total of 2.7 million tourists in May.

-Spending of 135 billion baht, down 0.95% from the prior year.

-Chinese tourists declined 8.55% year over year.

-Total tourism dollars in May accounted for about 12% of the gross domestic product.

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17 minutes ago, teelack said:

-A total of a 1.03% drop in the total number of tourists year over year in May.

-Chinese tourists declined 8.55% year over year.

That's surprising. 

Who made up for the Chinese? Maybe the Indians? 

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2 hours ago, js007 said:

What would be the alternative?

That's the issue. Maybe AC. The one time I was there it was just over 48 to 1 and now I see it is over 51 to 1.

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It just keeps getting worse. Down about 30 satangs since a rate I saw posted on Facebook this morning.

20190701_163735.jpg

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This article goes back six months but it discusses Thailand's strong currency.

https://www.bloomberg.com/news/articles/2019-01-20/world-beating-baht-adds-to-challenges-for-thai-economy-in-2019

"The baht has jumped thanks to Thailand’s $207 billion of foreign reserves, a current-account surplus and dollar weakness sparked partly by the Federal Reserve’s recent dovish tilt."

"A surge in the baht is adding to the challenges facing Thailand’s trade-dependent economy this year as exports decline."

"Currency strength is a worry and will hurt shipments, Pimchanok Vonkorpon, the ministry’s director general of trade policy and strategy, said in a briefing after releasing the trade data."

"The currency will continue to be strong this year, said Krung Thai Bank Pcl Chief Strategist Jitipol Puksamatanan. But ING Groep NV Economist Prakash Sakpal said politics could be a headwind amid uncertainty stemming from the general election due in 2019 after more than four years of military rule."

 

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23 minutes ago, midlifecrisis said:

dollar weakness sparked partly by the Federal Reserve’s recent dovish tilt.

War....huh.....(good God y'all!) what is it good for?     

Absolutely nuthin' everything (say it again!)

- unless I have completely misunderstood :clueless (dandruff again).

What is a "dovish tilt" when applied to a national bank?

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2 hours ago, capdagde said:

War....huh.....(good God y'all!) what is it good for?     

Absolutely nuthin' everything (say it again!)

- unless I have completely misunderstood :clueless (dandruff again).

What is a "dovish tilt" when applied to a national bank?

The Federal Reserve policies regarding interest rates, although Chairman Powell in his last press conference claimed that the Treasury Department is responsible for the strength or weakness of the dollar, as if interest rates don't affect it. Lower interest rates make money cheaper to get. It also means investments that depend on interest rates for returns are not worth putting money into except I suppose as a hedge. That is why we have had a decade or so in our stock markets. No place else to go to get good returns on investments.

There is a debate raging frequently from Trump to pundits on business channels here as to whether or not the FED should drop interest rates. The FED chose not to do so in June and a few days later consumer confidence levels were shown to be down (not as a result of the FED decision) and other indicators for the economy were down...just the kind of things Powell and the other FED members are watching.

So, the article is a bit ambiguous as to what constitutes dovish FED behavior. Is it doing nothing, where decisive up or down movement in interest rates would be hawkish?

Certainly our exports under this administration benefit from a weaker dollar but it sucks for overseas travel. On the other hand, with the trade wars and Europe and China with down economies, we aren't selling as much as we should be under the circumstances.

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On 6/22/2019 at 1:12 AM, midlifecrisis said:

That's the issue. Maybe AC. The one time I was there it was just over 48 to 1 and now I see it is over 51 to 1.

There is some mileage in that idea. The RP is upping its game regarding tourism, hotel quality and costs, it's just being able to put up with the fucking abysmal infrastructure. Cebu is actually getting very popular now, but it is one flight out of MNL to get there.

Anyway. that rate is shit.

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24 minutes ago, Butch said:

There is some mileage in that idea. The RP is upping its game regarding tourism, hotel quality and costs, it's just being able to put up with the fucking abysmal infrastructure. Cebu is actually getting very popular now, but it is one flight out of MNL to get there.

Anyway. that rate is shit.

Are there direct flights to Manila from Europe? I don't fancy the local airline.

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Got 30.36 to the  USD for the direct deposit to my Bangkok Bank direct deposit account which  posted on 1 July. That always lags a bit compared to the TT rate.

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It's 'The Rate On the Street' guys, let's keep it on track, eh?

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Hi,

I was in the Post Office this morning and they were advertising baht at less than 37. From my records I got 74+ at some stage. The value of the £ has halved against the Baht.:yikes:

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Off topic posts removed. 

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Of course, if you use TT cash exchange you will do better. But SWIFT your money to your Bangkok  Bank account, or Siam Commercial one, for GBP, well it is testing the 38 line today. (38.0025).

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A few minutes ago at TT on Second Road:

2019-07-03 12.06.04.jpg

Relentless fall! 😣

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7 minutes ago, Bazle said:

A few minutes ago at TT on Second Road:

2019-07-03 12.06.04.jpg

Relentless fall! 😣

Day after day after day falling....

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^^

You got the problem of the Baht gaining strength against the US Dollar on one side of the currency pairings whilst on the other side Sterling continuing to decline against that same US Dollar......Double whammy in the wrong direction giving a savage bottom line for Sterling/Baht

Kasikorn Bank (I've got the article somewhere will try and dig it out) were saying in February that they expected the Baht to weaken out to 35/36 by June....instead its gone the other way. Thais really need to offload the Baht on Forex markets to weaken it slightly as clearly now incoming tourists are declining. With over $210 Billion in foreign reserves they can always prop it up again at any point should they choose

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