seven Posted August 10, 2021 Share Posted August 10, 2021 11 hours ago, Quietguy said: GB £ over 46 Baht today. OMG! You be a 2 week billionaire if this continues. QG, here’s a tip. Buy lots of baht now then when the real brexit effect comes , sell. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted August 11, 2021 Share Posted August 11, 2021 The Baht is having perhaps the best day of the year against the USD although this might be more reflective of dollar weakness than baht strength. The July US Consumer Price Index numbers were released today and probably contributed to dollar weakness. So how is this type of info actionable? The exchange rate Visa uses is stale and only changes once a day. The rate for August 11th is: https://www.visa.co.th/en_TH/travel-with-visa/exchange-rate-calculator.html?fromCurr=USD&toCurr=THB&fee=0.0&utcConvertedDate=&exchangedate=08%2F11%2F2021&submitButton=Calculate+Exchange+Rates Thai Baht to United States Dollar August 11, 2021 1 THB = 0.0299042763 USD 1 USD = 33.440033 THB This price is locked in now but I know the I would get less baht per dollar tomorrow. Of course there could be dramatic world news that could change things. For example, if the RAF bombed Brussels in the next few hours that would most likely boost the price of the USD as a safe haven in times of trouble. I have to make withdrawals anyway so it makes sense to me to take my withdrawals when I feel Visa has mis-priced fair value by 0.5%or more. We will see manana. To see the price you get on Visa purchases or cash advances just use this link: https://www.visa.co.th/en_TH/travel-with-visa/exchange-rate-calculator.html On a side note, the machine by my 7/11 was down so I went to the machine by a bank near Hemingway's right before curfew time. People drive nuts right around curfew time making the roads dangerous, an unintended consequence of curfews. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted August 12, 2021 Share Posted August 12, 2021 16 hours ago, Pdoggg said: The exchange rate Visa uses is stale and only changes once a day. Thai Baht to United States Dollar August 11, 2021 1 THB = 0.0299042763 USD 1 USD = 33.440033 THB Today's Visa rate is: Thai Baht to United States Dollar August 12, 2021 1 THB = 0.0302114502 USD 1 USD = 33.100033 THB So by withdrawing about 500 USD last night, I got around 170 baht more than I would get today. Some might say big deal 170 baht, but that's 3 beers at Emmy's or my entire expenditures per day during the lockdown. 3 Quote Link to comment Share on other sites More sharing options...
seven Posted August 12, 2021 Share Posted August 12, 2021 37 minutes ago, Pdoggg said: 170 baht Or a coffee at Starbucks. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted August 13, 2021 Share Posted August 13, 2021 Today is definitely not a day to withdraw baht from an ATM with a foreign credit card. You will almost certainly get more money tomorrow afternoon. Today's rate if using a Visa card: Thai Baht to United States Dollar August 13, 2021 1 THB = 0.0303581967 USD 1 USD = 32.940032 THB Quote Link to comment Share on other sites More sharing options...
seven Posted August 20, 2021 Share Posted August 20, 2021 Thailand’s First Twin Deficit in Nearly a Decade Set to Hit Baht https://www.yahoo.com/finance/news/thailand-first-twin-deficit-nearly-210000490.html (Bloomberg) -- Thailand is heading for a rare current account deficit this year with the country missing out on the billions of dollars earned from tourism, likely piling more pressure on the nation’s already battered currency. The reversal of fortunes for Asia’s worst-performing major currency this year echoes the damage wrecked by the pandemic on Thailand’s economy. With the nation reeling under the deadliest phase of the Covid outbreak so far, authorities have imposed growth-sapping restrictions on businesses and movement. That’s dented any chances of a quick recovery and plans for a wider reopening of borders to foreign visitors, who contributed more than $60 billion to the economy before the pandemic. 1 Quote Link to comment Share on other sites More sharing options...
Woodie Posted August 20, 2021 Share Posted August 20, 2021 I don't think it matters what happens to the Thai economy. The currency just stays high. There seems to be some magical thing going on that does not allow the normal forces to work. 1 Quote Link to comment Share on other sites More sharing options...
stoolpusher Posted August 20, 2021 Share Posted August 20, 2021 8 hours ago, Woodie said: I don't think it matters what happens to the Thai economy. The currency just stays high. There seems to be some magical thing going on that does not allow the normal forces to work. Unlike the Australian yoyo dollar Quote Link to comment Share on other sites More sharing options...
Woodie Posted August 21, 2021 Share Posted August 21, 2021 14 hours ago, stoolpusher said: Unlike the Australian yoyo dollar Very true. The Aussie dollar goes up and down on the whims and other influences, such as money manipulators. That is the point, the baht does not seem to. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted August 24, 2021 Share Posted August 24, 2021 Today is another day where the Visa card exchange rate is stale and you would be better off going to your ATM tonight rather than waiting for tomorrow if you want to withdraw baht. The "currency calculator" below gives you an indication of the cost of purchases you make when traveling internationally. Thai Baht to United States Dollar August 24, 2021 1 THB = 0.0301032241 USD 1 USD = 33.219033 THB 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted August 25, 2021 Share Posted August 25, 2021 19 hours ago, Pdoggg said: Thai Baht to United States Dollar August 24, 2021 1 THB = 0.0301032241 USD 1 USD = 33.219033 THB My $500 withdrawal netted me about 200 extra baht by doing it last night instead of today; 5 Leos at the 7/11 overlooking the bay. If there was an ATM which gave out 5 free ice cold Leos there would be a line down the entire length of Soi Buakhao! August 25, 2021 1 THB = 0.0304599147 USD 1 USD = 32.830032 THB 2 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted September 28, 2021 Share Posted September 28, 2021 The baht is approaching 34 to the USD. 2 Quote Link to comment Share on other sites More sharing options...
Quietguy Posted September 29, 2021 Share Posted September 29, 2021 14 hours ago, Fenton said: The Rate on the £ doing ok. I think some mongers will be happy reaches 50. And also the UK expats. Quote Link to comment Share on other sites More sharing options...
seven Posted October 12, 2021 Share Posted October 12, 2021 Oopps. Dammit. Looks like it will be Mama cup noodles and finding company at coconut bar again for us. https://www.yahoo.com/finance/news/thai-baht-rallies-quarantine-eased-014346946.html (Bloomberg) -- Thailand’s baht rallied the most since August as an easing of travel requirements for vaccinated visitors brightened the outlook for the tourist-reliant economy. Quote Link to comment Share on other sites More sharing options...
seven Posted October 15, 2021 Share Posted October 15, 2021 I have no idea where to post this but I think its about money, inflation, pandemic , service demands. So Mods please move it to where its more suited. Sweden’s inflation experience may show where the U.S. and other developed markets are going https://www.marketwatch.com/story/swedens-inflation-experience-may-show-where-the-u-s-and-other-developed-markets-are-going-11634299903?siteid=yhoof2 There’s a whole host of goods rocketing in price, as evidenced by U.S. consumer prices matching a 30-year high in September with 5.4% year-over-year growth. That makes sense. The COVID-19 pandemic, and the policy response of lockdowns and government stimulus, unleashed a massive switch in spending from services to goods. Spending on U.S. durable goods, in March, was 26% above its pre-pandemic trend. There’s one notable country that didn’t mandate shutdowns or lockdowns — Sweden. And there, services prices did decline. And now, inflation in Sweden is about 3 percentage points less than in the U.S. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted April 22, 2022 Share Posted April 22, 2022 On 9/29/2021 at 6:04 AM, Pdoggg said: The baht is approaching 34 to the USD. It didn't cross 34 last year but could do so soon. This may have more to do with dollar strength than baht weakness. Quote Link to comment Share on other sites More sharing options...
Ashoka Posted April 22, 2022 Share Posted April 22, 2022 2 hours ago, Pdoggg said: It didn't cross 34 last year but could do so soon. This may have more to do with dollar strength than baht weakness. Fucking hell.. 10 years ago I cringed when I had exchange at 29, closer to 28. 10 grand too. As it turned out.. I moved back stateside and still have like 70k baht left over from that transaction with the last king's pictures on it. Hopefully that money is still good! Quote Link to comment Share on other sites More sharing options...
Quietguy Posted April 22, 2022 Share Posted April 22, 2022 3 hours ago, Ashoka said: still have like 70k baht left over from that transaction with the last king's pictures on it. Hopefully that money is still good! The notes with the former king's pictures were still being used when I was there in February, so you should be ok. I'd guess that banks are replacing those notes as they receive them. 1 Quote Link to comment Share on other sites More sharing options...
cobber32 Posted April 23, 2022 Share Posted April 23, 2022 17 hours ago, Ashoka said: Fucking hell.. 10 years ago I cringed when I had exchange at 29, closer to 28. 10 grand too. As it turned out.. I moved back stateside and still have like 70k baht left over from that transaction with the last king's pictures on it. Hopefully that money is still good! Every couple of weeks l get money out at my ATM. Yesterday there were a few of the old notes in with mostly new. The former king is still held in such high esteem that l doubt there is any rush to cancel the old notes. As has been said, a slow process to weed them out is all that is likely to happen - for now anyway. 4 Quote Link to comment Share on other sites More sharing options...
Quietguy Posted April 23, 2022 Share Posted April 23, 2022 5 hours ago, cobber32 said: The former king is still held in such high esteem that l doubt there is any rush to cancel the old notes. I remember reading on forums that if one drops a Thai banknote it shouldn't be stepped on as we would do at home to stop it blowing away, as that would be stamping on the monarch's head which would be greatly disrespectful. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted April 26, 2022 Share Posted April 26, 2022 The baht weakened to 34 baht against the US dollar on Tuesday, its lowest point against the greenback in five years, due to growing concerns on global economic situations, with analysts warning of further losses. The Thai currency opened at 34.07 baht per US dollar on Tuesday, a level not seen since 2017, weakening from Monday’s close of 34.04. Poon Panichpibool, a market strategist at Krungthai Bank, said the currency market is avoiding mounting risks arising from the Federal Reserve’s interest rate hikes and the Covid-19 outbreak situation in China. As the baht has breached its key resistance level of 34 baht per US dollar, Poon warned that the next resistance level of 34.15-34.20 baht must be closely monitored, as it would provoke panic attacks among importers and open the door to further baht’s sell-offs. “Businesses should use hedging tools such as options to manage risks in the highly volatile currency market,” Poon advised. Quek Ser Leang at UOB Group’s Global Economics and Markets Research predicted that “if USD/THB can maintain a foothold above 34.00 within these few days, it is likely to strengthen further.” “Resistance levels are at 34.25 and 34.40,” Leang added. “The risk for USD/THB is on the upside as long as it does not move below 33.70.” According to Pipat Luengnaruemitchai, chief economist at Kiatnakin Phatra Securities, one factor for the baht’s weakening is that the Bank of Thailand insisted on holding its policy interest rate steady at 0.5 per cent to support domestic economic recovery, despite the US move to hike its rate to tackle inflation. “The risk of currency depreciation arises if any country refuses to raise its interest rate in order to maintain domestic economic stimulus measures.” Pipat said. “Under the current economic situation, the Bank of Thailand is unlikely to raise the interest rate as the economy has not recovered yet.” https://www.thaienquirer.com/39692/baht-drops-against-dollar-to-5-year-low-poised-to-drop-further/ Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted April 26, 2022 Share Posted April 26, 2022 6 hours ago, Pdoggg said: Poon warned that the next resistance level of 34.15-34.20 baht must be closely monitored, as it would provoke panic attacks among importers and open the door to further baht’s sell-offs. Blew past that resistance level today and currently trading at 34.29 although at TT Exchange in Pattaya you can currently get only 34.08. Quote Link to comment Share on other sites More sharing options...
Ashoka Posted April 26, 2022 Share Posted April 26, 2022 2 hours ago, Pdoggg said: Blew past that resistance level today and currently trading at 34.29 although at TT Exchange in Pattaya you can currently get only 34.08. That's gotta be great value for you. Extra 4000 baht every month if you have a $1000 to spend every month. But how's inflation? I imagine that's cutting into the value bit. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted April 26, 2022 Share Posted April 26, 2022 24 minutes ago, Ashoka said: But how's inflation? I imagine that's cutting into the value bit. There is food and energy inflation but my biggest expense is rent and Pattaya rentals are cheaper than ever! I saw on a Facebook group the other day that a newish 37 sqm one bedroom Jomtien condo with a gym and pool was only 4000 baht a month. 1 Quote Link to comment Share on other sites More sharing options...
Ashoka Posted April 26, 2022 Share Posted April 26, 2022 4 hours ago, Pdoggg said: There is food and energy inflation but my biggest expense is rent and Pattaya rentals are cheaper than ever! I saw on a Facebook group the other day that a newish 37 sqm one bedroom Jomtien condo with a gym and pool was only 4000 baht a month. WTF? I paid 10k for a room with a bathroom and a balcony in 2019 june. Paying similar soon but not staying that long that next month. Quote Link to comment Share on other sites More sharing options...
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