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Chang_paarp

The rate on the street.

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There is a dreadful amount of angst in people’s minds regarding the value of the Thai baht and their respective currencies. To be honest I cannot recall rates from years past and its all a bit irrelevant but here is something to chew on.

In the sixties many commonwealth countries decided to decimalise and I was a constant visitor to four of them, Australia, New Zealand, South Africa and the UK. I am aware of the history of these four places and it might interest you to know how things stand today in relation to Thailand.

The UK was the only country to retain the pound sterling as its main unit whilst NZ and AUS and SAR used half that amount, or ten shillings as it was then. Who, after all these years are the winners and losers? The following figures are reasonable averages of today’s exchange rate against the baht.

Pound sterling,            38.5 baht

NZ Dollar 19.1 x 2=     38.2 baht

AUS Dollar 20.5 x 2 =  41.0 baht        

SAR Rand 2.00 x 2=     4.00 baht

So there you have it. The $ AUS is a slight winner while the SAR is a vast loser. There is only one point to add to these numbers and that is that the three commonwealth countries had issues with importations unless you had currency stashed away overseas, mainly in Britain. For this reason people would pay a premium for pounds and dollars, often as high as 25% therefore the UK loss has been even greater.

 

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6 hours ago, teelack said:

There is a dreadful amount of angst in people’s minds regarding the value of the Thai baht and their respective currencies. To be honest I cannot recall rates from years past and its all a bit irrelevant but here is something to chew on.

In the sixties many commonwealth countries decided to decimalise and I was a constant visitor to four of them, Australia, New Zealand, South Africa and the UK. I am aware of the history of these four places and it might interest you to know how things stand today in relation to Thailand.

The UK was the only country to retain the pound sterling as its main unit whilst NZ and AUS and SAR used half that amount, or ten shillings as it was then. Who, after all these years are the winners and losers? The following figures are reasonable averages of today’s exchange rate against the baht.

Pound sterling,            38.5 baht

NZ Dollar 19.1 x 2=     38.2 baht

AUS Dollar 20.5 x 2 =  41.0 baht        

SAR Rand 2.00 x 2=     4.00 baht

So there you have it. The $ AUS is a slight winner while the SAR is a vast loser. There is only one point to add to these numbers and that is that the three commonwealth countries had issues with importations unless you had currency stashed away overseas, mainly in Britain. For this reason people would pay a premium for pounds and dollars, often as high as 25% therefore the UK loss has been even greater.

 

Back in the 70s I traveled outside the UK for the first time and I could only take out £100.

When the UK went decimal the prices rocketed and when the Euro was introduced it was with a feeling of dread (I moved to the Netherlands) but they were clever all the prices shot up September- oct-november so by the time we knew what had happened they could say  come February that they hadn't raised prices.

The euro is now at an all time low and it's still falling that's all I know, it's lower now than it was when I was on Samui march 2002.

 

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Today's rates.... probably the weekend's rates.

After I took this pic I went to Big-CX and it was busy. Particularly busy were the two exchange places on each side of the main ground floor pedestrian entrance. I guessed mostly Russians,  appearing to be exchanging cash. These places are bank affiliated so the rates would be lower, so I compared them to my picture. USD were about 1 baht per $ (big bills)  down on TT Exch. Couldn't see Rubles there, but surely the rate would again be inferior .... I was thinking to let a few of them know they were losing out, then thought, they probably won't speak English, and these are the same ignorant sods who wont shuffle up on the baht buses... fxck them!

20191116_131005.jpg

 

Edited by jacko

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Sterling was 38.85 at Yellow TT Sunday 3pm and also same at the Sabai Exchange under Atlantic Bar Soi 3 who up to now have taken any old notes however first time today rejected a £10 note of mine. Brand new out of ATM in UK before trip as well. Must have a been a fake as its unmarked

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Wednesday evening.

20191120_174907.jpg

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50 minutes ago, Rawhide2 said:

Sterling is 39.61 real time at TT exchanges

Yes I will try and get a pic tomorrow. I was in a hurry last week as I was heading home and back for the fireworks festival.

Was watching a guy with Ian King this AM, very bullish on Sterling...$1.35 end of year ...although dependent on a Conservative majority next week.

Edited by jacko

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2 hours ago, jacko said:

Yes I will try and get a pic tomorrow. I was in a hurry last week as I was heading home and back for the fireworks festival.

Was watching a guy with Ian King this AM, very bullish on Sterling...$1.35 end of year ...although dependent on a Conservative majority next week.

Sterling continues to head north against the Dollar and (for now) the Baht has started to weaken against the Dollar.....at moment interbank is just shy of 40 at 39.89 at time of post

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1 Pound sterling equals
39.95 Thai Baht
5 Dec, 16:37 UTC · Disclaimer
 
 
 
 

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13 hours ago, jacko said:

Yes I will try and get a pic tomorrow. I was in a hurry last week as I was heading home and back for the fireworks festival.

Was watching a guy with Ian King this AM, very bullish on Sterling...$1.35 end of year ...although dependent on a Conservative majority next week.

Yesterdays opinion polls suggested there wouldn't be a hung parliament and sent the £ over $1.30. 

Am guessing if the conservatives win next week it will push the £ even higher. Just in time for trip on the 17th 😁

Edited by tombon

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1 hour ago, tombon said:

Am guessing if the conservatives win next week it will push the £ even higher.

That's a massive "if"!

(I assume you mean get an overall majority, not just the most seats.) 

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1 hour ago, Bazle said:

That's a massive "if"!

(I assume you mean get an overall majority, not just the most seats.) 

You assumed right.

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Here we go.....

20191206_134012.jpg

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If I can make a suggestion. I know many are waiting and waiting to transfer Sterling based perhaps on a Tory majority and anticipation of a further increase in Sterling/Baht....now that may well happen but in the financial world the old adage is "buy the rumour sell the facts"

The "rumour" in this case is the anticipated Tory victory which is why we've seen Sterling rising against the Dollar but "sell the facts" may well come into play when that victory is assured and traders sell off their profits....... Now that doesnt happen all the time but stand on me it happens very frequently across all financial instruments

Pound cost averaging as always....if Sterling/Baht does rise to 41/42 (we're 12 satang shy of 40 currently) than send more and take the average.....Would we have been happy with 41 when we were sat at 36/37....??  Too right we would

Danger is Johnsons predicted seat majority has been halved this last 48 hours and with former senior Tories Labour and Lib Dems advocating tactical voting a hung parliament is still a distinct possibility.

Should that happen expect Sterling to sink sharply

I've completed all my transfers for my January trip but certainly if it moves far enough north I will send more for the subsequent trip

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2 hours ago, Rawhide2 said:

Sterling (lifted from elsewhere) is currently 40.48 at TT exchanges

Yes, here is a pic......

20191213_131709_1.jpg

 

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PHP hit over 67 this morning!! Waheeey!!

Hopefully as things begin to settle politically in the UK then we will see an increase.

Rawhide your advice on buying or selling on the rumour was spot on, one friend managed to get 67 php yesterday morning, it then dropped again half a peso or so when some negative news came out, all due to a simple bloody news feed!.

 

 

 

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48 minutes ago, Butch said:

Hopefully as things begin to settle politically in the UK then we will see an increase.

Sadly Sterling seems to have fallen back since, I suggest it is due to Nicola Sturgeon doing her William Wallace bit.

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Tis the season to be jolly.... well not really:

20191220_092609.jpg

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This was taken Sunday around midday and is from the new TT Exchange located in Big-CX. I suspect it will seriously impact the two bank based exchanges on either side of the main entrance. 20191222_115213.jpg

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The second I got to TT the rate for the £ dropped from 39 to 38.85 😫

Just a note of warning when exchanging notes. Yesterday I tired to change 2 £50 notes at 6 exchange booths along soi buakao. None of them would accept them due to 1 note having a pen mark on the queens face and the other note having a pen mark on the white bit on the right side of the night.

It's getting that bad now that they dont even want our money.

Edited by tombon

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5 hours ago, tombon said:

The second I got to TT the rate for the £ dropped from 39 to 38.85 😫

Just a note of warning when exchanging notes. Yesterday I tired to change 2 £50 notes at 6 exchange booths along soi buakao. None of them would accept them due to 1 note having a pen mark on the queens face and the other note having a pen mark on the white bit on the right side of the night.

It's getting that bad now that they dont even want our money.

Go to Sabai Exchange its under Atlantic Bar Soi 3 where they'll literally take any note marked torn whatever except for outright forgery of which I had one last trip (£10) but she gave back to me at least........ Walloped it into Tescos when back home lol (seeing I originally got it out of their ATM)

Certainly takes 50's as well had a couple last trip. Rate is always equal to TT exchanges and normally few satang higher

Edited by Rawhide2

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7 hours ago, tombon said:

 

Just a note of warning when exchanging notes. Yesterday I tired to change 2 £50 notes at 6 exchange booths along soi buakao. None of them would accept them due to 1 note having a pen mark on the queens face and the other note having a pen mark on the white bit on the right side of the night.

 

Hi,

I think its the banks in UK who mark the notes. I always feel that a note with some marks on it is geniune. The pristine ones are the ones I worry about. 

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