Bhat level and real estate

Post by **Jockey** » Tue Mar 27, 2007 5:11 pm

STEVE G wrote:BBC 27-Mar-07
Thailand's central bank has denied it is planning to put a limit on the value of the baht, but has asked banks to avoid pushing the currency any higher.
The banks have been asked to return their currency holdings to the position they were in at the end of 2006.

The baht hit nine-year highs against the dollar last week but has since fallen back on rumours of intervention.

But the Bank of Thailand's governor said on Tuesday that all the rumours about policy changes were unfounded.

The central bank has taken a series of steps to deter currency speculators since last September's military coup.

In December, the Bank of Thailand said that 30% of non-trade related foreign exchange sold for baht must be deposited interest-free with the central bank for a year.

wow - it certainly changed! Yesterday 1 UK pound = 62.78 baht, today 1 UK pound = 64.20

Post by **PeteC** » Tue Mar 27, 2007 7:22 pm

Jockey wrote:wow - it certainly changed! Yesterday 1 UK pound = 62.78 baht, today 1 UK pound = 64.20

And I hope it keeps up, or the $ goes back to 40 by November as we were dumb lucky enough to accumulate a bunch of pounds years ago at a good rate which will all turn into Baht when time to pay the bill on the new house, or maybe before if it hits 66?.. Luck of the Irish, and I say the Rosary often, (as well as go to the Wat...as well as burn incense next to my beer, as well as pat each pretty girl on the butt...as well as...you know!).

Pete

Post by **STEVE G** » Tue Mar 27, 2007 8:03 pm

Reading between the lines, it looks like the BOT didnâ€™t order banks to intervene to lower the baht, but it did ask them to do it, and they seem to have complied.

Post by **Onlyme** » Wed Mar 28, 2007 12:24 am

wow - it certainly changed! Yesterday 1 UK pound = 62.78 baht, today 1 UK pound = 64.20

Where on this Earth do you get your rates from?
I get far more than you on any given day!
GBP United Kingdom 67.63 69.46 68.35500 68.53000 69.20500
You're probably with A N Other Barclay banking system in th UK?
Onlyme.

Post by **Burger** » Wed Mar 28, 2007 12:35 am

Gotta say rates like 62 - 64 seem UK rates, send it over in sterling and Bangkok Bank give you 67 - 68.

Also a mate, goes into Bangkok Bank, does a fair bit of trading, gets quoted the days rate and say's it's not good enough and they give him a slightly higher rate.
Ie: You can even barter with the banks.

Today Bangkok Bank rate is GBP United Kingdom 67.63 for sterling, 68.53 for TT's.

Burger

Post by **Jockey** » Wed Mar 28, 2007 1:26 am

Burger wrote:Gotta say rates like 62 - 64 seem UK rates, send it over in sterling and Bangkok Bank give you 67 - 68.

Also a mate, goes into Bangkok Bank, does a fair bit of trading, gets quoted the days rate and say's it's not good enough and they give him a slightly higher rate.
Ie: You can even barter with the banks.

Today Bangkok Bank rate is GBP United Kingdom 67.63 for sterling, 68.53 for TT's.

Burger

I get my rate information from www.oanda.com

The baht at the moment has two different values - internal and external, reasons which have been explained to me but I have been unable to understand. Anyway - your advice burger is true now more than ever - always send money in the currency of your home country and let the Thai bank convert it. The difference can be a lot (up to 10%).

Post by **Burger** » Wed Mar 28, 2007 7:03 am

Jockey and co.,

All the banks here have websites and daily rates on them, I use them as that's where we're sending our sterling to, so that's the rate we'll end up getting.

You can also set up sterling accounts in banks here, and just move it over to your Baht account when the rate is favourable.

Burger

Post by **Onlyme** » Thu Mar 29, 2007 12:33 am

http://www.bbl.co.th/Bangkok+Bank/Web+S ... +Rates.htm
Above are the Bangkok bank rates that I receive with my UK debit card.
Onlyme.

Post by **STEVE G** » Mon Apr 02, 2007 8:53 am

Thailand Investment Curbs Backfire, Set Stage for Rally in Baht
http://www.bloomberg.com/apps/news?pid= ... refer=asia

Post by **Mack111** » Mon Apr 02, 2007 3:27 pm

mmm, isn't this who the last Asian crisis started off??

Post by **Nereus** » Mon Apr 02, 2007 5:47 pm

Mack111 wrote:mmm, isn't this who the last Asian crisis started off??

The Thais like to blame George Soros, I think.

Post by **Norseman** » Mon Apr 02, 2007 11:28 pm

Nereus wrote: The Thais like to blame George Soros, I think.

Do they?
The crisis started in Japan.
Was Soros a contributing cause of that?

Post by **Mack111** » Tue Apr 03, 2007 6:58 am

The Thais like to blame George Soros, I think.[/quote]

It was the Malaysians who blamed him, the old PM of Malaysia slagged him off on teh world stage for the crisis

Post by **johnnyk** » Tue Apr 03, 2007 7:50 am

Norseman wrote:
Nereus wrote: The Thais like to blame George Soros, I think.
Do they?
The crisis started in Japan.
Was Soros a contributing cause of that?

Started in Japan?
The yen didn't drop, the Japanese economy had been stagnant since about 1991 and remained that way until quite recently. Stagnation is not crisis.
The big losers were Korea and Thailand.

JW · Post by JW » Tue Apr 03, 2007 9:22 am

I am sure we had the same thread last year at this time of year, i think that for some reason (unknown to me) its just a strong time for baht.