Looking to change some money before I go back to Australia. I checked the exchange rate on the interney, and even in one day its fluctuating wildly
http://finance.yahoo.com/currency/co...THB&amt=1&t=5d (http://finance.yahoo.com/currency/convert?from=AUD&to=THB&amt=1&t=5d)
It looks like the Bank of Thailand is manipulating the baht. These are not normal fluctuations are they? It looks like the baht is weak during the day then strengthens at night time (not sure if that is Thai time though. Its ranging between about 25.5 to 28 even in one day.
I think this is also the case with the baht against other currencies. Sounds like someone / some people could be making a lot of money now by trading using these fluctuations.
What are the exchange rates doing at banks at the moment? Are they shouwing a strong or weak baht? Ofcourse I prefer to buy dollars when the baht is strong but don't know if it will be possible.
^
Thanks for the site; it is awesome.
But I don't know what the hell is up with the baht.
I should need to convert about X baht soon and don't like these fluctuations at all.
Honestly, I'm more worried that there is a baht crash before I can change anything.
IA
PS. I know very little about economics, etc-I'm just speaking out of fear. [image: http://www.ajarnforum.net/vb/images/smilies/grin.gif]
IA, I would change soon if I was you. Have your money if foreign currency, then when it does crash, change it back[image: http://www.ajarnforum.net/vb/images/smilies/smile.gif] I don't see the baht getting much stronger, though 7 years ago, I came to Thailand when it was about 22 baht to the AU dollar.
^
I've sold my house and am waiting on the money.
It's out of my hands.
Even the 'rule of law' can't compel a Thai to pay up in a timely fashion.
They have one more week and then they lose their deposit and it's onto the next buyer.
[image: http://www.ajarnforum.net/vb/images/smilies/munch.gif]
IA
I love this one in today's Nation...
BOT urges dealers to buy dollars - Baht weakens amid volatile trading
The central bank urged dealers at banks to "adjust" their foreign-exchange positions, resulting in banks buying up US dollars and causing the baht to weaken against the greenback in afternoon trade yesterday, falling to 35.05 against the greenback from Thursday's close of 34.63/34.67.
A financial source said the volatility was caused by urgent letters circulated by the Thai Bankers' Association (TBA) calling on banks to "adjust the position" of their foreign-exchange portfolios, which was seen as a requirement from the central bank.
This spurred banks' demand for dollars amid strong dollar sales from exporters.
But the information was quite confusing and resulted in volatile trading, the financial source said. The baht bounced between 34.70 and 35.05 to the dollar before closing at 34.96/35.03.
Bank of Thailand (BOT) Governor Tarisa Watanagase said she met with TBA chairman Apisak Tantivorawong to discuss the baht but added that she did not know why there was demand from banks to buy dollars yesterday.
Tarisa said several rumours were circulating.
After the political shake up following the last financial fucked up attempts to weaker the baht, good to see it is all under control now!
[image: http://www.ajarnforum.net/vb/images/smilies/rollinglaugh.gif]
Another article I just couldn't follow said that BoT had undertaken transactions involving the selling of a trillion baht to attempt to weaken the baht.
Thing is, it is as much, if not more, about US dollar weakness. No amount of baht transactions are going to boost the US dollar!
Not that it is ever going to come out, but I predict there are going to be massive BoT "paper" losses following this futile sell off. Unless they just get dumb lucky and the US bounces anyway...
OP I am not sure but i think there is a problem with that yahoo page. I wouldnt trust it completely. The baht has been fairly stable for the last couple of weeks at around 63 to the GBP. But somtimes it says 68 on yahoo, but when I check on ex.com then it says 63 as usual.
Quote Originally Posted by peeps
63 to the GBP
Damm, when i changed a few months ago it was 70 baht to the pound!
For those buying dollars its a great time!!
Quote Originally Posted by peeps
OP I am not sure but i think there is a problem with that yahoo page. I wouldnt trust it completely. The baht has been fairly stable for the last couple of weeks at around 63 to the GBP. But somtimes it says 68 on yahoo, but when I check on ex.com then it says 63 as usual.
I think you mean www.xe.com (http://www.xe.com/). It also shows the baht to the dollar at 25.8, but on the Thai military bank website it shows almost 28. Very strange.
25.8 is probably reflecting the overseas rate while 28 mirrors the local rate.
http://www.bangkokpost.net/topstorie....php?id=117642 (http://www.bangkokpost.net/topstories/topstories.php?id=117642)
All I can say is "Yippee." I got a car to sell before I go back - prolly gonna get more for it than I paid 3 years ago! hah
Have a look at the Oz Forex site. You can place limit orders, very handy if you expect it to hit a certain rate that day.
No fees too for transactions over a certain limit.
Quote Originally Posted by Loner
I think you mean www.xe.com (http://www.xe.com/). It also shows the baht to the dollar at 25.8, but on the Thai military bank website it shows almost 28. Very strange.
I think your ISP is manipulating your XE numbers. It's showing 32.01 over here, and has been in a 31-35 range for at least a month.
While we're on the subject, here's a couple of newbie questions.
Better exchange rates in BKK for: Greenbacks, travellers checks, or ATM withdrawal? Make it all-in, with fees.
Percentage of funds in-country you keep in baht vs hard currency (GBP, USD, Euro, etc)?
Quote Originally Posted by tafy68
Damm, when i changed a few months ago it was 70 baht to the pound!
Aye, and when I changed last week it was 67.
And after just looking at the Bangkok Bank FX page, it still is...
http://www.bangkokbank.com/Bangkok+B...s/FX+Rates.htm (http://www.bangkokbank.com/Bangkok+Bank/Web+Services/Rates/FX+Rates.htm)
I've found the xe.com rates to be lower than the actual rates at the bank.
Quote Originally Posted by av8tor
I think your ISP is manipulating your XE numbers. It's showing 32.01 over here, and has been in a 31-35 range for at least a month.
I was talking Aussie dollars mate, so never mind[image: http://www.ajarnforum.net/vb/images/smilies/smile.gif] I'll check out the bank rates this week.
Quote Originally Posted by Loner
I was talking Aussie dollars mate, so never mind[image: http://www.ajarnforum.net/vb/banking-shares-and-investments/images/smilies/smile.gif] I'll check out the bank rates this week.
Sorry. My bad.
there is such a variety of rates on the net...
I am in London...I use the Bangkokpost.com converstion site...this has the oz $ and the £ getting stronger...Yahoo show £ = 63...Bangkokpost £ = 67.8...who knows...
there are so many variables in the way currencies behave against each other...
It seems it is always better value to exchange in the desired location...for me...exchanging to baht, Bangkok is best value...
Interest rates in Oz and UK are rising...interest rates in Thailand are falling and being cut further...there is a direct relationship between the level of interest and the value of a currency...usually, though not always...
As already stated by others...the issue is also about the weakness of the US dollar...
Ozzies dollar aren't all that good though are they loner i mean the GBP seems to be a sure bet to prop* any currency including the dollar >>>> Better still conentrate on the euros like we have be doing for years and watch the activity for the future, i hear the euro will rise and the baht will fall. I think a little trust in the GBP and the Euro would be better than that dirty oil money.[image: http://www.ajarnforum.net/vb/banking-shares-and-investments/images/smilies/smile.gif]
Thanks for the replies. Seems the AU dollar is around 28.5 the last 2 days, according to the banks. Kasikorn seems to have the best rate, but only by a very small amount. Does anyone know how the exchange rate compares at the the new airport? Is it similar or slightly worse? If its similar I'll just change it at the airport. If not, I'll change it at a bank before I leave..
^ About the same.
I was there yesterday. On the AUD:THB cross, Siam Commercial were taking about a 0.90 spread (buy Aussie at 27.90 sell Aussie at 28.80) which is about the same spread as Kasikorn's branches, so just as easy to change it at teh airport.
The Baht is not going anywhere, IMO.
Why would it?
[image: http://www.ajarnforum.net/vb/images/smilies/wink.gif]
The Baht isn't going up, and it isn't going down.
It will stay at about 33 to 40 to the USD.
Quote Originally Posted by IsaanAlex
^
I've sold my house and am waiting on the money.
It's out of my hands.
Even the 'rule of law' can't compel a Thai to pay up in a timely fashion.
They have one more week and then they lose their deposit and it's onto the next buyer.
[image: http://www.ajarnforum.net/vb/banking-shares-and-investments/images/smilies/munch.gif]
IA
Hope you didn't sign anything before getting the dosh...[image: http://www.ajarnforum.net/vb/banking-shares-and-investments/images/smilies/grin.gif]
Quote Originally Posted by Arnold!
The Baht is not going anywhere, IMO.
Why would it?
[image: http://www.ajarnforum.net/vb/images/smilies/wink.gif]
The Baht isn't going up, and it isn't going down.
It will stay at about 33 to 40 to the USD.
Against your midpoint of 36.5, 33-40 represents a fluctuation range of just under 20%.
That is going up and down.
[image: http://www.ajarnforum.net/vb/images/smilies/rock.gif]
For the last few days, the Bloomberg currency tape (Ch. 73 here I think) has been been running two rates for the baht. An offshore rate and a Thailand rate?
I've been watching Bloomberg for several years and have never seen them run two rates for the same currency. If memory serves me the offshore rate was running at about 36 and the Thailand rate 31. (against the greenback)
Anybody know what's going on with this two figure posting? Has something happened in the last few days ?.
I saw the xe.com rate of 63/UKP...got excited and rushed down the bank to get so money transferred back there before it changed. It was aparently inaccurate as Bangkok Bank had it at 68...lower than it has been but not worth the immediate transfer.
Quote Originally Posted by torbek
Against your midpoint of 36.5, 33-40 represents a fluctuation range of just under 20%.
That is going up and down.
[image: http://www.ajarnforum.net/vb/images/smilies/rock.gif]
A very good point, Torbek.
I was jumping to the conclusion (probably wrong) that people are speculating again that the Baht is going to take a severe hit.
I've been hearing this for about years.
There are good reasons behind what people think.
I stand corrected.
[image: http://www.ajarnforum.net/vb/images/smilies/beerchug.gif]
Hope it takes one nasty arsed tumble.... [image: http://www.ajarnforum.net/vb/images/smilies/wink.gif]
^ Me too and then some!
Can anybody say what the bank is offering in England? I mean this 2 rate nonsense is unbelievable. If it's 63 then buy a shed load of baht. Go back to blighty and change it back again.
Instant, easy money. [image: http://www.ajarnforum.net/vb/banking-shares-and-investments/images/smilies/smile.gif]
The rates on XE.com are strange. Only that site has the baht so strong. I checked the rates in Australia (as usual they suck), and its still better to change in Thailand (even at 28.5). I've not seen any bank rates even close to XE or finance rates on yahoo.
The rates on XE.com are strange. Only that site has the baht so strong. I checked the rates in Australia (as usual they suck), and its still better to change in Thailand (even at 28.5). I've not seen any bank rates even close to XE or finance rates on yahoo.
Which is strange, because usually I find them pretty accurate, certainly in Korea, Japan, India, Singapore, India the XE rate normally is damn accurate.
But in LOS, this is not the case.
Unfortunately, in order to change baht to dollars I have to take a three hour trip over to Phuket (one of the disadvantages of country hick living).
I'm definitely heading that way next week.