Strong Baht Weak Baht

[pdogg 727]

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

 

[duke007 3,307]

Would be interested to know what approx the £ will be worth regarding Baht next Tuesday

[ciobha 806]

I can answer that for you Dukey.

 

Next Tuesday £12.37 will be worth a bit of rough and tumble with a soi 6 skanker.

[duke007 3,307]

I can answer that for you Dukey.

 

Next Tuesday £12.37 will be worth a bit of rough and tumble with a soi 6 skanker.

 

The price of 3 Pints and a Schooner of Guinness, sounds fair enough

[bumblebee 2,784]

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

 

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.

[dixon cox 913]

B10k from the ATM costs B1k less than it did a few weeks ago.

 

Nice one Cyril 

[bumblebee 2,784]

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

 

and one on Soi 5 Jomtien.

 

 

Money changers almost always give better rates than the banks.

[bumblebee 2,784]

This green one on Second Road, between Soi 13 and 13/1 gives a good rate also.

[pacman 351]

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!

[dixon cox 913]

... he carried this parcel out under his arm by himself. It must have weighed 5 kilos at least

 

Some people.... honestly!

 

5kg's of Baht ~ He must have very big arms.

 

Some people, honestly! 

[pacman 351]

Can't I catch a break?....          

 

OK, maybe not 5kgs but it was heavy. I remember the guy picking it up & he had *that* look on his face.

 

You know that look...                  

[ArchieBunker 556]

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!!!!

[xyzzy 1,347]

 I get a great rate at a place called SUPERRICH in Central bangkok.

 

You can see SuperRich's rate at this site. Just enter your home currency.

 

http://bankexchangerates.daytodaydata.net/default.aspx

[Quietguy 209]

Looks like UK £ is slowly going up again.

[bumblebee 2,784]

Looks like UK £ is slowly going up again.

Same with the Euro.  Who'd have thought 5 years ago we would be getting excited about 41.

[rxpharm 1,067]

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.

[azza33 152]

You can see SuperRich's rate at this site. Just enter your home currency.

 

http://bankexchangerates.daytodaydata.net/default.aspx

Where in bkk is this forex trader?

[xyzzy 1,347]

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

[azza33 152]

Soi 22 sukhumvit looks the go for me, ill compare them to the soi 3 arabs and see who is better.

... 22 days to go...

Thanks

[rxpharm 1,067]

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.

[bumblebee 2,784]

I see the Euro has gone over the 42 B mark for the first time in over a year or more.  Long may it last.

http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx

[Quietguy 209]

And apparently you can get 50 Baht to the £ in Patts.  

[deepthroat 536]

Official rate was something like .3131 last week to dollar. That's a couple of baht above where it was this time last year.

[fogmaster 474]

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!

[bumblebee 2,784]

Let's hope it stays good for all the major currencies for the coming months.  Thailand has just gone into recession so that may keep the TB weak for a while.

http://www.themalaymailonline.com/money/article/thai-baht-slumps-to-one-year-low-as-economy-enters-recession