thai baht rate update

[84gunner]

for business travellers tat can reimburse their expenses & gets per diems, u even make some forex gains indirectly if u maintained some $$ in LOS bank accts!

Originally Posted by 84gunner

for business travellers tat can reimburse their expenses & gets per diems, u even make some forex gains indirectly if u maintained some $$ in LOS bank accts!

Hi Bro
Not to be rude but I kinda disagree in the issue of opening an acc. I'm not sure what is the regulation for a foreigner to open a bank account in Thailand but I believe not all thai banks will allow it. Unless you are a big spender in Thailand, else I do not see the need to do so. Also, Unless U put a real huge amount of money (10,20KSGD) into the account 2 to 3 year back, else anyone with a Thai Bank account with 2~3KSGD will still be subjected to the influence of the exchange rate. Anyway, I will not encourage anyone to do so rite now as the Baht is already too high. I rather put my money into the dollar(US)

No Offence. Just my thought

[High till Dry]

Originally Posted by 84gunner

for business travellers tat can reimburse their expenses & gets per diems, u even make some forex gains indirectly if u maintained some $$ in LOS bank accts!

Bro, seems like u have already settled down in ur new job liao huh?

So free...

[ivor]

Hi, currently staying at Suhkumvit Soi 18.
The exchange rate here is average around 21.6 to 21.7.
Seriously, SGD seems to weaken...look at the trending of SGD/THB chart at yahoo.

Well, here to happy...so just wacked...happy can already.

[saintsrsaf]

Update from GM 21.83

[JWNY]

Originally Posted by 84gunner

I'm not in the finance industry, so tis is not my profession, I'm oso a layman, haha.

Well for a start, I am in the industry and i do it as a profession.

No doubt your intention may be non cynical but your way of "advising" is somewhat flawed. How much can we all benefit from it, as you said it the exchange floats and fluctuate everyday, and if we're talking about the hundreds of S$ it won't burn a hole in any of our pockets.

The purpose of the thread is to look at market movements and the TBH as a whole, not how many som-tams we can buy on our next visit. We have to think outside the box, but the core of the market is directed by fundamentals / derivatives (slightly more technical than what the layman thinks)...not gut feeling

As i had mention, those with TBH convert it to USD...for a profit

JWNY

[saintsrsaf]

Bro Jimmy,
Do you think SGD-THB rate will get higher on october or lower than now?

[JWNY]

Originally Posted by saintsrsaf

Bro Jimmy,
Do you think SGD-THB rate will get higher on october or lower than now?

If you are addressing me please get my name right

Indications suggest that the TBH will in fact gain MORE strength against the SGD...however, please take note of this post below as it is MOST important towards the threads in terms of dollars and SENSE per se

JWNY

Originally Posted by OceanEleven

Generally, small change in rate will not affect most much when planning for a trip. Put it this way, an increase in 0.1 baht against SGD fetch you an additional 100 baht only if you are changing SGD1000. Well how many bros gonna change SGD1k for a short trip assuming air tickets and hotels already settled in Singapore prior to departure?

Of course when comparing to 2002 when SGD fetch 24 baht and above, we lose in excess of 2k baht base on changing SGD1k compare to now but then again, that is if we knew….

[yinyang]

Originally Posted by JWNY

...Indications suggest that the TBH will in fact gain MORE strength against the SGD...however, please take note of this post below as it is MOST important towards the threads in terms of dollars and SENSE per se

Right on the button for re-post bit. Especially last bit on only if we knew.. reminds me of 1 kweilo bluntly told smart asses on "what ifs".. if only his granny had a prick (oh so gross!)

This is not take away credit for this thread's purpose on THB development for most of us here.. whether for holiday, transfers or whatever.

[yinyang]

Some info as to THB's recent escalation.

Capital inflows for 1st week July equalled all of June's.

Some relief in sight (we ikan bilis hope)?? BoT (Bank of Thailand) governor has some measures to ease THB appreciation by loosening forex holding for trade payments. Bangkok Post excerpt today:

BoT eases tight grip on the baht
Surayud maps plan to relax upward pressure
The Bank of Thailand will introduce a package of relaxed capital controls this week to curb the continuing appreciation of the baht, BoT governor Tarisa Watanagase said yesterday. ..includes relaxing regulations that control capital outflow for investment and allowing exporters to hold US dollars for longer, instead of forcing them to hastily sell them and put upward pressure on the baht. ..in line with measures proposed to the government yesterday by Federation of Thai Industries, the Board of Trade of Thailand and the Thai Bankers' Association.

[me|zuo]

21.8 at GM..

[84gunner]

Originally Posted by chujiarensg

Hi Bro
Not to be rude but I kinda disagree in the issue of opening an acc. I'm not sure what is the regulation for a foreigner to open a bank account in Thailand but I believe not all thai banks will allow it. Unless you are a big spender in Thailand, else I do not see the need to do so. Also, Unless U put a real huge amount of money (10,20KSGD) into the account 2 to 3 year back, else anyone with a Thai Bank account with 2~3KSGD will still be subjected to the influence of the exchange rate. Anyway, I will not encourage anyone to do so rite now as the Baht is already too high. I rather put my money into the dollar(US)

No Offence. Just my thought

If I'm not wrong, anybody can juz go to the bank in LOS wif his passport & open a bank savings acct.

Banks in PRC may be different (financial & monetary control still rather tight), I can't really remember. But besides my payroll acct, I think I opened accts wif several other banks in PRC using my ID document only, several years back.

Banks in HK oso, juz yr passport can open bank acct liao.

Actually, quite good idea oso, can start buying some USD while it is quite low now. But, as far as I see, USD isn't going the upside direction in at least the next few months. There's potential for further downtrend for USD.

[84gunner]

Originally Posted by High till Dry

Bro, seems like u have already settled down in ur new job liao huh?

So free...

well, have oredi settled down in current job some time back, juz damn busy, until rather frustrated recently, have a little break, so come in here for some "entertainment".

[84gunner]

Originally Posted by JWNY

Well for a start, I am in the industry and i do it as a profession.

No doubt your intention may be non cynical but your way of "advising" is somewhat flawed. How much can we all benefit from it, as you said it the exchange floats and fluctuate everyday, and if we're talking about the hundreds of S$ it won't burn a hole in any of our pockets.

The purpose of the thread is to look at market movements and the TBH as a whole, not how many som-tams we can buy on our next visit. We have to think outside the box, but the core of the market is directed by fundamentals / derivatives (slightly more technical than what the layman thinks)...not gut feeling

As i had mention, those with TBH convert it to USD...for a profit

JWNY

My "advise" may be flawed, becos I'm not a professional!! Otherwise, I'll be much richer!!!

well, to u, u are not bothered by the difference of a few som-tams or khao meng khai or kuay teows, but there are some brudders here lamenting about these differences, whether it's 10 THB or 100 THB or more.

Take profit, convert to USD, then wat u gonna do wif USD? Keep it? Or convert USD to another currency?

[JWNY]

Originally Posted by 84gunner

Take profit, convert to USD, then wat u gonna do wif USD? Keep it? Or convert USD to another currency?

For you, you can skip this part...it's very technical

The THB will continue to elevate, with weak domestic demand for the USD. Another factor not brought up properly is the position of BoT. Very confusing signals at times.

JWNY