Guest travelerjim Posted January 25, 2007 Posted January 25, 2007 Stop Press ! Baht Rises, US$ is 34 range ...OUCH! ThaiVisa.com has issued a bulletin about the Bank of Thailand withdrawing support for the US Dollar...big drop today for many currencies including the US Dollar and British Pound.... As anticipated and totally unannounced the BOT is no longer supporting the baht at 36 This has not been made public but the rates offered for the dollar and thus all currencies have fallen steadily today . Their discussion board has many informative postings: http://www.thaivisa.com/forum/index.php?showtopic=103173 . The currency converter is at: http://www.thaivisa.com/currency-converter.0.html . and shows: 1.00 USD United States Dollars = 34.3021 THB Thailand Baht 1.00 GBP United Kingdom Pounds = 67.5217 THB Thailand Baht How low will the US Dollar go ??? anyones guess at this point! TravelerJim Quote
Gaybutton Posted January 25, 2007 Posted January 25, 2007 Let's not hit the panic button just yet. The following are the closing exchange rates for Thursday, January 25: US dollar: 35.58 Euro: 46.015 British Pound: 69.805 Australian dollar: 27.52 Canadian dollar: 30.1275 None of those rates are significantly different from the levels at which the rates have been for the last six weeks. I see no such announcement in any of the Thai media that normally reports BOT moves, so I don't know where the people posting on Thaivisa are getting this from. I'll post the exchange rates for Friday, both opening and closing, on this thread when they become available. I'll monitor the exchange rates next week. If I see any significant changes, I'll post the rates. Quote
Guest jinks Posted January 25, 2007 Posted January 25, 2007 Let's not hit the panic button just yet. British Pound: 69.805 On my first visit to Thailand, many moons ago, I got just over 40 for my sterling. If that rate returns I WILL PANIC. Quote
Gaybutton Posted January 26, 2007 Posted January 26, 2007 Exchange Rates for Friday, January 26: Opening Rates: US dollar: 35.66 Euro: 46.005 British Pound: 69.95 Australian dollar: 27.4025 Canadian dollar: 29.975 Quote
Gaybutton Posted January 26, 2007 Posted January 26, 2007 Exchange Rates for Friday, January 26: Closing Rates: US dollar: 35.64 Euro: 45.97 British Pound: 69.97 Australian dollar: 27.42 Canadian dollar: 29.9875 Quote
Guest GaySacGuy Posted January 26, 2007 Posted January 26, 2007 I exchanged some US funds this afternoon, and the best I could find was 35.47 baht to the dollar. Just two days ago it was 36.78, so quite a drop. Sure hope it doesn't go any lower. Quote
Guest highrise Posted January 26, 2007 Posted January 26, 2007 I exchanged some US funds this afternoon, and the best I could find was 35.47 baht to the dollar. Just two days ago it was 36.78, so quite a drop. Sure hope it doesn't go any lower. Current: (very sad) Friday, January 26, 2007 1 US Dollar = 34.66533 Thai Baht 1 Thai Baht (THB) = 0.02885 US Dollar (USD) Interbank rate +/- 0% This means: You buy 1 US Dollar : 34.66533 Thai Baht You sell 1 US Dollar : 34.49888 Thai Baht You buy 1 Thai Baht : 0.02885 US Dollar You sell 1 Thai Baht : 0.02899 US Dollar Median price = 34.49888 / 34.66533 (bid/ask) Minimum price = 33.85000 / 34.15000 Maximum price = 35.18000 / 35.23000 Quote
Gaybutton Posted January 27, 2007 Posted January 27, 2007 Current: (very sad) Friday, January 26, 2007 1 US Dollar = 34.66533 Thai Baht What is the source of your information? Mine comes from the Bank of Ayudhya web site ( http://www.krungsri.com/thai/home.aspx ), which is updated several times on weekdays. An opening rate is sometimes, but not always, published on Saturdays, but not a closing rate. I've always found their rates to be accurate and their published rate is always what I actually receive when exchanging money. Both Bangkok Bank and Bank of Ayudhya published the US dollar to baht exchange rate as 35.64 on Friday. I did not exchange any money on Friday. Did anyone exchange money on Friday? If yes, do you know the rate you got? If someone can tell us what he actually received on Friday, that might help to clear up some of the confusion. Quote
Guest GaySacGuy Posted January 27, 2007 Posted January 27, 2007 Did anyone exchange money on Friday? If yes, do you know the rate you got? If someone can tell us what he actually received on Friday, that might help to clear up some of the confusion. Mid afternoon on Friday I exchanged some US funds and the best I could find was 35.47 baht to the dollar. I believe the other rate was 35.38 at the other exchange. Quote
Guest fountainhall Posted January 27, 2007 Posted January 27, 2007 I changed US$300 at 3.25 pm on Friday at the Bank Thai branch on Silom near Silom Complex - rate was 35.51 Quote
Guest Hedda Posted January 27, 2007 Posted January 27, 2007 I just used that Thai Visa currency converter and got 33.48 Thai Baht to One US Dollar, as of 11:33 Thai Time, 27 January. I couldn't figure out what the source of the quote was. The discrepancies in exchnage rates noted above are probably due to the exchange rate "off shore" outside Thailand, where a limited supply of Bahts is avalable for currency trading that's not subject to BOT capital rules, compared to Thailand itself, where the mass of bahts are circulating and currency restrictions apply. A limited supply of baht outside Thailand versus a high demand by speculators in acquiring a rising currency makes the baht more expensive to buy in overseas markets. Quote
Guest highrise Posted January 27, 2007 Posted January 27, 2007 66 to the Pound Double OUCH! Just checked before I leave to the airport. Today, Saturday, it's in the mid 33 range on two US bank currency converters I checked. The slide continues. Wonder what it will be by the time my plane lands?!?! Quote
Guest travelerjim Posted January 27, 2007 Posted January 27, 2007 Just checked before I leave to the airport. Today, Saturday, it's in the mid 33 range on two US bank currency converters I checked. The slide continues. Wonder what it will be by the time my plane lands?!?! Highrise & Friends, Using GayButton's recommended bank currency converter link...these are todays - Saturday January 27th rates you wouldl actually receive in Thailand from this bank: Bank of Ayudhya: Be sure to "Click on Daily Exchange Rates"... http://www.krungsri.com/eng/exchange01.aspx . USA $ .....35.47 (for $100 bills) British ......69.17 Much better rates than those which are appearing on Bank Currency Quotes for Dollars and Pounds exchanged OUTSIDE of Thailand. TravelerJim Quote
Guest fountainhall Posted January 27, 2007 Posted January 27, 2007 This evening UOB on Silom was offering a rate of 35.62 for US$100 bills. Quote
Guest kenrfc Posted January 28, 2007 Posted January 28, 2007 OH DOODLES! I'm getting quoted 33.42 here in the US right now! I'm sending my BF his stipend 3 days early because this is getting rediculous. He'll be happy, but I'm pissed. Quote
Guest GaySacGuy Posted January 28, 2007 Posted January 28, 2007 Yahoo's converter is showing 33.42 also, and it has been really close. I wonder how much furthur this can fall before the government or the state banks step in to stop the rise in value??? Quote
Gaybutton Posted January 28, 2007 Posted January 28, 2007 Gentlemen, you're all having a stroke over something that simply does not exist in Thailand. These 33 and 34 baht exchange rates, about which so many are having apoplexy, are OFFSHORE exchange rates for the baht to US dollar. Those are NOT the rates you get within Thailand. You only will get rates like that if you've buying baht outside of Thailand. This afternoon, just to make sure, I went to a Bangkok Bank and looked at their exchange rates personally. The rates to the US dollar are still in the 35 point something range and this is what the rates have been for the past several weeks. That still sux, but at least it has not appreciated to the rates causing conniption fits for some of you. Not yet, anyway. On Monday I'll post the exchange rates current for the most commonly exchanged foreign currencies. Quote
Guest Kregger Posted January 28, 2007 Posted January 28, 2007 Question to anyone who knows. Yes, the offshore and in-Thailand rates are different, by a lot. When you stick a US bank ATM card in the Thai ATM machine and you get out baht, are you getting the offshore or in Thailand rate? Quote
Gaybutton Posted January 28, 2007 Posted January 28, 2007 When you stick a US bank ATM card in the Thai ATM machine and you get out baht, are you getting the offshore or in Thailand rate? You get the Thai rate. Quote
Guest Geezer Posted January 28, 2007 Posted January 28, 2007 Yesterday (Saturday) I paid a bill at Bumrungrad Hospital with a Bank of America Visa card. When I got home I saw a notice on my copy of the credit card slip: Quote
Guest buaseng Posted January 28, 2007 Posted January 28, 2007 You get the Thai rate. Not in my experience! My credit card company gives a lot lower exchange rate for drawing cash than I get for making purchases using the card (which is usually at the daily Thai rate). It can be two or three baht per pound sterling lower than the purchases rate. (BTW the interest charges for cash withdrawals are higher than those for purchases anyway - unless of course you clear your outstanding balance at the end of every month). The lesson is to avoid drawing cash on a credit card, whilst abroad, and instead use the card for purchasing goods/services only, if you possibly can. Quote
Gaybutton Posted January 29, 2007 Posted January 29, 2007 Exchange rates for Monday, January 29: Opening rates: US dollar: 35.65 Euro: 45.88 British pound: 69.675 Australian dollar: 27.375 Canadian dollar: 30.03 Quote
Guest buaseng Posted January 29, 2007 Posted January 29, 2007 Baht high 'and headed higher' The Thai baht has become the world's best performing currency this year, and has increased to about 33 per US dollar on international markets. The currency will rise to 32.50 baht per dollar in three months and increase to 32 per dollar by year-end, said a weekend analysis. At 4:30 this morning Thailand time, the currency was trading at 33.425 on the New York market. Currency analysts believe the Thai baht will rally even more. International investors are likely to increase purchases of local stocks after the lifting of martial law, according to Mellon Financial Corp. Overseas investors bought 508 million baht ($15.2 million) more of Thai stocks than they sold, the 12th straight day of net purchases, according to Stock Exchange of Thailand data released last Friday. Thailand's economy will expand as much as 5 percent in 2007, driven by exports, Prime Minister Surayud Chulanont said this month. Finance Minister Pridiyathorn Devakula on Jan. 18 said growth was "at least 5 per cent" last year. Probably today, the Bank of Thailand will lift restrictions on foreign currency loans that are hedged for at least a year. http://www.bangkokpost.net/breaking_news/b...s.php?id=116381 Quote
Gaybutton Posted January 29, 2007 Posted January 29, 2007 Exchange rates for Monday, January 29: Closing rates: US dollar: 35.62 Euro: 45.835 British pound: 69.585 Australian dollar: 27.3725 Canadian dollar: 30.0075 I'll continue to monitor the exchange rates. I'll post again if any significant changes occur. Quote
