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The Finance Ministry and the Bank of Thailand have finally agreed on a policy mix to manage the exchange rate, apparently coming to terms after their conflict intensified in the past weeks as the baht climbed more than 7 per cent.

 
"There is no action now, but the measures are ready. At 29.5-29.6 against the US dollar, the baht has stabilised. The Bank of Thailand will be in charge of management, while the Finance Ministry will keep the Cabinet updated," Areepong Bhoocha-oom, permanent secretary for the ministry, said after the Cabinet meeting yesterday.

 

 

 

http://www.nationmultimedia.com/business/BOT-Finance-agree-on-forex-policy-30205630.html

 

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It has been hovering around the 20 and a bit baht for about 12 months or so for us in Aus , I am always hoping it will get to even 25 baht but I think those days are over .     I certainly don't

I fully agree SP regarding some daily items.  I tend to buy things like bread, cold meats, tins of tuna and sardines along with fruit juices in Pattaya and with the exchange rate now they are actually

That’s the bonus of Katty bar for me, it’s  the kind of place I’d normally like to hang out in anyway, and the cheaper beer just adds to the experience.  In more expensive bars I’d sometimes hesitate

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  • 4 weeks later...

Good for us to see the Baht has dropped a bit this past week. :happy0065:

 

http://www.bloomberg.com/news/2013-06-06/thai-bonds-rise-on-demand-for-safety-as-stocks-drop-baht-falls.html

 

The baht dropped 0.2 percent to 30.60 per dollar and reached 30.64 earlier, the weakest level since Jan. 2, data compiled by Bloomberg show. One-month implied volatility, a measure of expected moves in the exchange rate used to price options, rose six basis points to 6.4 percent.

The currency has lost 1.4 percent since the Bank of Thailand cut its benchmark interest rate by a quarter of a percentage point to 2.5 percent on May 29 and said it is ready to act on monetary policy if needed. Central bank data showed on May 31 that the nation posted a record current-account deficit of $3.4 billion in April.

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For anyone wanting to change notes in Pattaya, Yenjit Money Changer does a compatible rate to most non bank changers.  

http://www.yjpattayaexchange.com/4.html

There is one on Walking St, near Simon Complex 1,

 

another on Buakhao, opposite Blue Rathree complex

post-106-0-68041000-1371083709_thumb.jpg

 

and one on Soi 5 Jomtien.

post-106-0-08418900-1371083717_thumb.jpg

 

 

Money changers almost always give better rates than the banks.

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I saw the Bangkok stock market dropped 5% yesterday or the day before. I can't work out how current the news is but it was this week. There was no explanation given but that's a dramatic drop. Anyone know what happened to cause it?

 

I second the recommendation for Yenjit, I have never had a better rate. I walked into the one on Walking Street during the day one time & a customer was watching as the staff stacked 100's of bundles of notes into a very big cardboard envelope. You know the rate is good when someone elects to use them for a commercial transaction & not go to a bank.

 

I couldn't believe it when he carried this parcel out under his arm by himself. It must have weighed 5 kilos at least & if anybody knew what was in it, I doubt he would made it to his hotel. Some people.... honestly!

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I saw the Bangkok stock market dropped 5% yesterday or the day before. I can't work out how current the news is but it was this week. There was no explanation given but that's a dramatic drop. Anyone know what happened to cause it?

 

I second the recommendation for Yenjit, I have never had a better rate. I walked into the one on Walking Street during the day one time & a customer was watching as the staff stacked 100's of bundles of notes into a very big cardboard envelope. You know the rate is good when someone elects to use them for a commercial transaction & not go to a bank.

 

I couldn't believe it when he carried this parcel out under his arm by himself. It must have weighed 5 kilos at least & if anybody knew what was in it, I doubt he would made it to his hotel. Some people.... honestly!

 

I come and go a lot and usually take ca$h with me.  I get a great rate at a place called SUPERRICH in Central bangkok.  Somtimes you walk in there and you see merchants and others changing stacks of money.  I mean HUGE wads and they have wads of 1K baht notes strewn on their counters.  I mean there are many thousands thee and tons more in the back room. 

 

You hear of pawn shops getting knocked off but I have never heard of one of these places getting knocked off.  It kind of like you NEVER had any robberies/muggings in Little Italy in NY ity in the mafias heyday!!!!

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The Thai baht is under pressure because of the current political uncertainty. If this gets resolved peacefully, then the Baht will likely strengthen again. For those with Thai bank accounts keep an eye on the rates, and if it starts to get stronger again, transfer funds into your Thai account to get the best rate.

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Yes the baht is weak now against most currencies. The US$ is up about 10% from the April low. I keep wondering if now is the time to transfer money and also buy some plane tickets that are purchased in baht. As usual I will screw up and miss the best time.

 

 

Where in bkk is this forex trader?

 

A Google of Superrich Bangkok found this:

 

http://www.thebangkokshoppingguide.com/super_rich_money_exchange_bangkok

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  • 2 weeks later...

There's also an exchange called Vasu Exchange that gives better rates than the banks - but they will only deal in cash - no credit cards or traveler's cheques.

 

Their home page is http://www.vasuexchange.com/index.php

 

They are located on Sukhumvit Soi 7.

 

Yes Vasu is always my first stop in Thailand. Didn't know they had a website so thanks for the heads up rx.

 

It's a beautiful thing seeing the dollar sitting at 32 today!

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