If you are only talking a couple of thousand, any added 'value' will be about the price of a beer!PineappleHUAHIN wrote: ↑Tue Aug 08, 2023 4:41 pmok thank you for the information. In your experience you would recommend to change which type of currency that seems to have better value ? chf, euro or usd in cash ?buksida wrote: ↑Tue Aug 08, 2023 4:33 pmWelcome aboard, this place offers one of the best cash exchange rates in Hua Hin: viewtopic.php?f=9&t=28571&start=19PineappleHUAHIN wrote: ↑Tue Aug 08, 2023 3:57 pm If changing ca$h in say Hua Hin or BKK, which has better value <? To change CHF, US$ or Euros into THB ? Thanks.
Baht falling, which is best currency to transfer in, USD or GBP?
Re: Baht falling, which is best currency to transfer in, USD or GBP?
Re: Baht falling, which is best currency to transfer in, USD or GBP?
Politics plays a role in baht drift
Prolonged political uncertainty is exacerbating baht volatility against the dollar as Thailand still has not formed a new government, says the head of the Bank of Thailand.
Investors see higher risk for the foreign exchange rate, especially between the baht and the US dollar given domestic political developments. Following the general election in May, factions are still squabbling over forming a government.
Given these underlying risks and vulnerabilities, the baht has been volatile against the dollar, central bank governor Sethaput Suthiwartnarueput said at a seminar on Wednesday hosted by its southern region office.
"Recent baht volatility is mainly driven by the movement of the US federal funds rate [monetary policy of the US Federal Reserve]," he said.
"Domestic political uncertainty is also playing a key role, causing pressure for baht fluctuation against the dollar."
The baht has depreciated by 9% against the dollar year-to-date, exceeding the volatility of the Malaysian ringgit, Indonesian rupiah and Philippine peso.
https://www.bangkokpost.com/business/ge ... baht-drift
Prolonged political uncertainty is exacerbating baht volatility against the dollar as Thailand still has not formed a new government, says the head of the Bank of Thailand.
Investors see higher risk for the foreign exchange rate, especially between the baht and the US dollar given domestic political developments. Following the general election in May, factions are still squabbling over forming a government.
Given these underlying risks and vulnerabilities, the baht has been volatile against the dollar, central bank governor Sethaput Suthiwartnarueput said at a seminar on Wednesday hosted by its southern region office.
"Recent baht volatility is mainly driven by the movement of the US federal funds rate [monetary policy of the US Federal Reserve]," he said.
"Domestic political uncertainty is also playing a key role, causing pressure for baht fluctuation against the dollar."
The baht has depreciated by 9% against the dollar year-to-date, exceeding the volatility of the Malaysian ringgit, Indonesian rupiah and Philippine peso.
https://www.bangkokpost.com/business/ge ... baht-drift
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
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404cameljockey
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Re: Baht falling, which is best currency to transfer in, USD or GBP?
Just for information, GBP is close to its 5 year high in August 2021, the USD is still way off its 5 year high in Oct 2022.
As I have both GBP and USD I'll probably remit inwards in Sterling for the time being, as psychologically I'd feel I'm getting better value 'historically' although I'm not sure if the Pound/Dollar cross affects it, probably not at all for me as I don't transfer between the two currencies unless there's some huge change, maybe during the upcoming US elections that will be the time for some FX speculation (last time I stupidly refused to cancel a small losing position before the election and lost hugely during the Dollar freefall when I should have made a profit of well into five figures).
As I have both GBP and USD I'll probably remit inwards in Sterling for the time being, as psychologically I'd feel I'm getting better value 'historically' although I'm not sure if the Pound/Dollar cross affects it, probably not at all for me as I don't transfer between the two currencies unless there's some huge change, maybe during the upcoming US elections that will be the time for some FX speculation (last time I stupidly refused to cancel a small losing position before the election and lost hugely during the Dollar freefall when I should have made a profit of well into five figures).
Re: Baht falling, which is best currency to transfer in, USD or GBP?
I use to work with currency dealers in London - First in first to leave they told me was how they made their millions!404cameljockey wrote: ↑Sat Aug 19, 2023 8:38 am Just for information, GBP is close to its 5 year high in August 2021, the USD is still way off its 5 year high in Oct 2022.
As I have both GBP and USD I'll probably remit inwards in Sterling for the time being, as psychologically I'd feel I'm getting better value 'historically' although I'm not sure if the Pound/Dollar cross affects it, probably not at all for me as I don't transfer between the two currencies unless there's some huge change, maybe during the upcoming US elections that will be the time for some FX speculation (last time I stupidly refused to cancel a small losing position before the election and lost hugely during the Dollar freefall when I should have made a profit of well into five figures).
- still working that out!Re: Baht falling, which is best currency to transfer in, USD or GBP?
Baht expected to continue its slide
Economists are warning the baht will weaken further throughout this month and next because of higher volatility in money and capital markets worldwide after the US Federal Reserve's hawkish comments about its benchmark interest rate.
Poon Panitchpibun, money market strategist at Krungthai Global Markets, a research centre of Krungthai Bank, said the baht opened on Thursday at 36.25 to the US dollar, depreciating from the previous day's close of 36.07.
During Wednesday night, the value of the baht fluctuated in a range of 35.86-36.23 per dollar, registering gradual strengthening.
Then the baht slid continuously as both the dollar and US 10-year bond yields continued to rise on the Fed's suggestion it may lift interest rates one more time this year, while signalling fewer rate cuts next year.
Many analysts assume the Fed is aiming for a soft landing for the US economy, reflected by the revised economic growth forecast for this year and next.
https://www.bangkokpost.com/business/ge ... -its-slide
Economists are warning the baht will weaken further throughout this month and next because of higher volatility in money and capital markets worldwide after the US Federal Reserve's hawkish comments about its benchmark interest rate.
Poon Panitchpibun, money market strategist at Krungthai Global Markets, a research centre of Krungthai Bank, said the baht opened on Thursday at 36.25 to the US dollar, depreciating from the previous day's close of 36.07.
During Wednesday night, the value of the baht fluctuated in a range of 35.86-36.23 per dollar, registering gradual strengthening.
Then the baht slid continuously as both the dollar and US 10-year bond yields continued to rise on the Fed's suggestion it may lift interest rates one more time this year, while signalling fewer rate cuts next year.
Many analysts assume the Fed is aiming for a soft landing for the US economy, reflected by the revised economic growth forecast for this year and next.
https://www.bangkokpost.com/business/ge ... -its-slide
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Baht falling, which is best currency to transfer in, USD or GBP?
Well that answers the original Ops question as the baht is definitely getting stronger against the pound. Almost a whole baht stronger over the last week or so.