Currency Exchange Rate

[telac]

wish I got my baht a few months before my trip - the us dollar has been getting crushed. I think I will exchange now for a trip in November just to be safe.

[Ducar]

wish I got my baht a few months before my trip - the us dollar has been getting crushed. I think I will exchange now for a trip in November just to be safe.

 

I just spent July in Pattaya. When I got there it was 30.10 When I left Aug 2ND it was 29.20

 

That Idiot Obummer is killing the US

 

The month befor he took office it was 38.60

[pubstud]

I just spent July in Pattaya. When I got there it was 30.10 When I left Aug 2ND it was 29.20

 

That Idiot Obummer is killing the US

 

The month befor he took office it was 38.60

 

 

I guess this is the "change you can believe in" that he was raving about.

[PepeLePew]

Can someone explain to me why, if the $ is dropping, Asian markets are in free fall and the euro is on it's knees, the £/baht rate is going the wrong way?

[kiff]

i will second that question

i wathed the aud dollar go from 33 to 29 now back at 31 but fuck me

were are ment to have one of the strongest economies around ?????????????

i dont get that shit

[Lukas7]

Anyone in Pattaya now can give the avarage exchange rate for Euros ?

 

I wanted to change some Baht before I leave so I can pay Mr T Taxi when I get there but the exchanges rates are awful here in Paris.

1 = 38 Baht, I even found 34...

 

Those rates are better : http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx

 

I'll change a small amount in the airport and the rest in Pattaya.

[Wifi-ads]

Can someone explain to me why, if the $ is dropping, Asian markets are in free fall and the euro is on it's knees, the £/baht rate is going the wrong way?

 

"Asia" is a very large area with many different economies, Thailand happens to be one of the strongest at the moment so is doing very well, the Thai Gov have been trying to reduce the value of the Baht because it harms their exports, however it also make imports cheap. The pound like the dollar and Euro is struggling.

[Wifi-ads]

i will second that question

i wathed the aud dollar go from 33 to 29 now back at 31 but fuck me

were are ment to have one of the strongest economies around ?????????????

i dont get that shit

 

As you said "were are ment to have one of the strongest economies around" Yes, you are meant to have and indeed do have, ONE of the strongest economies around..... it just so happens that it's not as strong as the Thai economy.

[PepeLePew]

"Asia" is a very large area with many different economies, Thailand happens to be one of the strongest at the moment so is doing very well, the Thai Gov have been trying to reduce the value of the Baht because it harms their exports, however it also make imports cheap. The pound like the dollar and Euro is struggling.

 

Thanks Wifi.

 

I had always thought the baht was strongly linked to the $. Is that not the case any more or was it never so?

[Wifi-ads]

Thanks Wifi.

 

I had always thought the baht was strongly linked to the $. Is that not the case any more or was it never so?

 

It used to be not just strongly linked but pegged, from 1956 until 1973, the baht was pegged to the dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978. A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until July 2, 1997, when the country was stung by the Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998.

[PepeLePew]

It used to be not just strongly linked but pegged, from 1956 until 1973, the baht was pegged to the dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978. A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until July 2, 1997, when the country was stung by the Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998.

 

Aah, so that's where I got that little snippet of misinformation! Do you have any idea what it is exactly that is making the Baht so strong at the moment. Obviously they are massive rice exporters but that can't be it and 'made in Thailand' is not exactly a mark of quality yet!

 

Thanks again Wifi. This is why I love this forum, there are experts or people in the know about most subjects and you don't have to look far to get an intelligent conversation on most things.

[Wifi-ads]

Aah, so that's where I got that little snippet of misinformation! Do you have any idea what it is exactly that is making the Baht so strong at the moment. Obviously they are massive rice exporters but that can't be it and 'made in Thailand' is not exactly a mark of quality yet!

 

Thanks again Wifi. This is why I love this forum, there are experts or people in the know about most subjects and you don't have to look far to get an intelligent conversation on most things.

 

Far from being an expert but I do listen to the news and currency fluctuations are of primary importance with my upcoming move to the LOS. Where to put my pension pot and in which currency is of the utmost importance.

[PepeLePew]

Far from being an expert but I do listen to the news and currency fluctuations are of primary importance with my upcoming move to the LOS. Where to put my pension pot and in which currency is of the utmost importance.

 

Swiss francs and gold seems to be where most are heading at the moment. Worrying times!

[Wifi-ads]

Holding gold gives no interest on the money, it actually costs you a little to "store" it, therefore your only hope of an income is through capital appreciation. With the interest rates on the swiss franc the answer is virtually the same. I'm currently looking at the Australian dollar and the Norwegian Krone due to the fact that their value is backed by considerable natural resources. Anybody else have opinions on this or do you all stick to your national currencies?

 

The most obvious route is to invest in Thai Baht BUT with the Thai attitude to farangs I don't think I want to put my money into Baht even though that's what I'll be spending in the future.

[PepeLePew]

Holding gold gives no interest on the money, it actually costs you a little to "store" it, therefore your only hope of an income is through capital appreciation. With the interest rates on the swiss franc the answer is virtually the same. I'm currently looking at the Australian dollar and the Norwegian Krone due to the fact that their value is backed by considerable natural resources. Anybody else have opinions on this or do you all stick to your national currencies?

 

The most obvious route is to invest in Thai Baht BUT with the Thai attitude to farangs I don't think I want to put my money into Baht even though that's what I'll be spending in the future.

 

You're right but from the time I made that post and now gold has risen from $1800 an ounce to $1900! The Swiss franc is also on the up despite the frantic attempt of the Swiss Gov to keep it down to help exports. Everyone is running scared these days and those are the traditional 'safe havens' for cash.

 

Norwegian Krone should be good. I do believe they are pretty much the only Gov worldwide that does not have a deficit.

 

Austrailian $ has done well over the last few years in part thanks to China however not everything in the down under garden is rosey. Yes fantastic wealth in terms of natural minerals but an over reliance on China could come back to kick it's ass one day. That said Australia is in a better position than most nations.

 

None of the following is to be considered financial advice. I have no idea what I am talking about and anyone who makes financial decisions of any kind based on what I say is an idiot!

 

Brazilian $ might be an outside punt. Great natural wealth but also a commercial explosion and a huge market right on it's doorstep?

 

Similarly Indian Rupee perhaps? An off the wall choice maybe but not as crazy as it may seem.

 

One for a shortish term punt (yes I know probably not the best way to treat your retirement capital!) might be the Chinese currency. Thought to be highly undervalued deliberately by the Gov and under pressure to be more realisticly pegged.

[ionacity77]

Wow! I don't know How long this is going to last but as of now, U.S dollar is doing better than Canada and Australia.

[Perthie]

Wow! I don't know How long this is going to last but as of now, U.S dollar is doing better than Canada and Australia.

 

Yep, and believe me from my viewpoint that totally sucks. A couple of weeks ago the AUD was riding at over 32THB on the mid-rate exchange, and now it's hovering just above 30THB. Started slipping as the fears over Greece defaulting on it's debts started growing again, and took another hit after the recent Treasury Ministers meeting where all was basically doom and gloom.

 

We've been very lucky here in Australia so far courtesy of a strongish economy, but we're also very exposed if there is another global meltdown. Fingers crossed for the future!! As it is, my holiday fund has depleted by some 8,000THB and I'm praying it stops at that. I'll start worrying about an Australian recession again after my next trip..................

 

Cheers

 

Perthie

Edited September 25, 2011 by Perthie

[ionacity77]

Yeah, I hope it don't get any worth for you guys and us too. As long as I get at least a 30 bhat, I'll be fine. Tho, it would be awesome if it goes up to 35bhat.. 555

[dinger]

Yeah, I hope it don't get any worth for you guys and us too. As long as I get at least a 30 bhat, I'll be fine. Tho, it would be awesome if it goes up to 35bhat.. 555

 

 

Oh 35 bhat --that would be sweet !! -----I see it's up to 31 to1 today . Damn I would like to see 35 by this Nov for my trip back

Edited September 26, 2011 by dinger

[ionacity77]

Xe.com Update for September 26th 2011.

 

U.S $1 = 31.0246 Bhat

 

Eur 1 = 41.9209

 

GBP 1 = 48.2904 (lucky bastards!!!)

 

Canada $1 = 30.2709

 

Aud $1 = 30.5211

 

Looks like U.S has gained bit more again.... Woot!! Go U.S.A !!

[Zizou Z]

USD is below 31 after doing fairly well most recently.

 

Gasp.

[oxyjohn]

Xe.com Update for September 26th 2011.

 

U.S $1 = 31.0246 Bhat

 

Eur 1 = 41.9209

 

GBP 1 = 48.2904 (lucky bastards!!!)

 

Canada $1 = 30.2709

 

Aud $1 = 30.5211

 

Looks like U.S has gained bit more again.... Woot!! Go U.S.A !!

 

GBP = Lucky bastards........... don't think so a couple of years ago it was B74 to the pound!

[THAJEC]

Euro fall down. US Dollars will be stronger. Todays rates Euro 40.11, US Dolllars 30.86. Euro will be under 40 soon ! Unsightly outlook to future.

[Frosty]

$1 getting over 31baht now ...

[Ducar]

Recived 31.20 today on the American Dollar