thai baht rate update

[Bushnell 1918cb]

Originally Posted by saintsrsaf

Rate from Mustafa 21.97

Hi,,

The exchange rate @ MBK yesterday was 22.00. Just came back from Khao Shan Rd, today rate is 21.50. I settled my room bill @ watana mansion, the visa rate is 21.something, can't recall. It's better to change in SG.Cheers.

[justl00king]

Its going down....

[yinyang]

Originally Posted by justl00king

Its going down....

You mean our money... Getting worse, crossed barrier 22 kns. Point of no return for awhile?

[justl00king]

Originally Posted by yinyang

You mean our money... Getting worse, crossed barrier 22 kns. Point of no return for awhile?

Hope can go back up to 23.

[AmericanExpress]

Originally Posted by justl00king

Hope can go back up to 23.

this will take some time but seriously u bros change how much unless in millions i dun think u guys will feel any tangible pinch think by now u guys got a rough idea the 'massive outflows' from US have nothing to do with a trade surplus just the coming collapse of USD! review some event of the past weeks some countries in the middle east are un pegging their currency with USD..have higher inflation in USA than expected and officially measured + the perspective of a recession due to the real estate bubble burst + the fact that USA is the land of debts a perfect cocktail for a perfect storm as for the FED they are in a dead end impossible to increase nor to decrease rates there is without doubt crisis of confidence toward the USD

[justl00king]

Originally Posted by AmericanExpress

this will take some time but seriously u bros change how much unless in millions i dun think u guys will feel any tangible pinch

Not in millions only thousands with 23 gainst 22- change S10K lost 10K baht.Change S5K lost 5K baht. Not alot but still feel it.

[AmericanExpress]

Originally Posted by justl00king

Not in millions only thousands with 23 gainst 22- change S10K lost 10K baht.Change S5K lost 5K baht. Not alot but still feel it.

i c not many send such big amoun monthly u're tirak very fortunate also u will get higher rate if u do send big $$

[totti79]

Any bros who have any idea abt these trends have any advice for vistors to LOS abt whether its wise to change money now to prevent damage due to further drop in upcoming weeks/months? Or its worth waiting a while more to see if it recovers a bit? Plan to travel in september, now wondering......

[justl00king]

Originally Posted by AmericanExpress

also u will get higher rate if u do send big $$

I only change at LOS money changer. Can Amex offer slightly better rates for bros here?

[suteerak1099]

well, once upon a time, it was SGD1: THB17++
then there was a time SGD1: THB24++, or was it THB25++?
then now, the THB is strengthening again.... either that or our SGD is depreciating (thanks to the slump in the USD)

[Da Ming]

cheonging in bangkok is getting more ex than before

one day expenses include accomodation can be easily around sgd400

[Mafan]

Originally Posted by suteerak1099

well, once upon a time, it was SGD1: THB17++
then there was a time SGD1: THB24++, or was it THB25++?
then now, the THB is strengthening again.... either that or our SGD is depreciating (thanks to the slump in the USD)

Once upon a time there also 1SGD = 30+ baht

[justl00king]

Originally Posted by Da Ming

cheonging in bangkok is getting more ex than before

one day expenses include accomodation can be easily around sgd400

Yup..and now rates dropping further.

[JWNY]

The TBH rose to a fresh 10-year high on Tuesday, spurred by broad dollar-selling in Asia and the view that the central bank's new rules for offshore investors will lead to baht buying onshore...the funny thing is, who would have thought that i could actually convert my current TBH to USD...for a profit

JWNY

[yinyang]

Originally Posted by JWNY

..TBH rose to a fresh 10-year high on Tuesday, spurred by broad dollar-selling in Asia ...the funny thing is, who would have thought that i could actually convert my current TBH to USD...for a profit

Goody, you can now afford to buy us drinks...

Yesterday's news on strong bht victims from Nation: (Is there hope for us minnows yet?)

TCC: strong baht will claim more victims

Thai Chamber of Commerce Chairman Pramon Suthivongse admitted that the strong baht has affected exporters and more small factories will be shut down.

He noted that he did not know why Thai Silp South East Asia Import Export Co Ltd was closed, but believed that the Thai baht is just one of the factors as the company could have shouldered financial problems. Still, he said the strong baht has raised the losses for exporters especially those in the textiles industry.

"More small factories would be shut down as when the baht is about 10 per cent more expensive than neighbouring countries like Indonesia and Vietnam, exporters can't compete with them," he noted.

On July 16, the TCC will seek a meeting with Commerce Minister Krirk-krai Jirapaet, to ask if there will be any remedial measures. He also noted that the private sector could need to raise their product prices and consequently see their shares in the export markets slashed. Meanwhile, exporters could need to replace machinery to reduce production costs, and the government can help through a cut in machinery import tariffs.

On the Bank of Thailand's saying that exporters' sale of US dollar spurred the baht appreciation, he admitted that such behaviour really exists.

"But it should help alleviate the situation if the Bank of Thailand allows exporters to hold on their foreign exchange income for more than 15 days (before they are required to convert the income into Thai baht)," he said.