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  1. #1
    Thailand Expat
    forreachingme's Avatar
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    THAI BAHT FX, 5 to 10 % against majors today !

    Euro, USD, CHF, and GBP

    all of those got weak from 5 to 10 % today, WTF ??

    i was just thinking about opposite !

    Where this comes form now ?

    Is it the government trying to attract big investors and block them a 30 % for a year ??

    Is it coz ???? No clue !

  2. #2
    Thailand Expat
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    American Dollar 0.0293513 34.07 Australian Dollar 0.0377558 26.486 Brazilian Real 0.0625183 15.9953 British Pound 0.0148969 67.1281 Canadian Dollar 0.0345788 28.9194 Chinese Yuan 0.228075 4.38453 Danish Krone 0.168506 5.93451 Euro 0.0226127 44.2229 Hong Kong Dollar 0.229125 4.36442 Indian Rupee 1.29586 0.771687 Japanese Yen 3.55063 0.28164 Malaysian Ringgit 0.10273 9.73429 Mexican Peso 0.322498 3.1008 New Zealand Dollar 0.0419483 23.8388 Norwegian Kroner 0.18523 5.39868 Singapore Dollar 0.0450455 22.1998 South African Rand 0.21243 4.70743 South Korean Won 27.4699 0.0364035 Sri Lanka Rupee 3.18902 0.313576 Swedish Krona 0.205269 4.87167 Swiss Franc 0.0365101 27.3897 Taiwan Dollar 0.964191 1.03714 Venezuelan Bolivar 62.9469 0.0158864

    This was for 25.01.2007

  3. #3
    punk douche bag
    ChiangMai noon's Avatar
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    fukking hell.
    how did that happen?

    are there any economists about that can explain this?

  4. #4
    Thailand Expat
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    ^people are buying THB.

  5. #5
    Thailand Expat
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    1.00 USD
    United States Dollars =32.8750 THB
    Thailand Baht

  6. #6
    The Pikey Hunter
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    Quote Originally Posted by forreachingme View Post
    American Dollar 0.0293513 34.07 Australian Dollar 0.0377558 26.486 Brazilian Real 0.0625183 15.9953 British Pound 0.0148969 67.1281 Canadian Dollar 0.0345788 28.9194 Chinese Yuan 0.228075 4.38453 Danish Krone 0.168506 5.93451 Euro 0.0226127 44.2229 Hong Kong Dollar 0.229125 4.36442 Indian Rupee 1.29586 0.771687 Japanese Yen 3.55063 0.28164 Malaysian Ringgit 0.10273 9.73429 Mexican Peso 0.322498 3.1008 New Zealand Dollar 0.0419483 23.8388 Norwegian Kroner 0.18523 5.39868 Singapore Dollar 0.0450455 22.1998 South African Rand 0.21243 4.70743 South Korean Won 27.4699 0.0364035 Sri Lanka Rupee 3.18902 0.313576 Swedish Krona 0.205269 4.87167 Swiss Franc 0.0365101 27.3897 Taiwan Dollar 0.964191 1.03714 Venezuelan Bolivar 62.9469 0.0158864

    This was for 25.01.2007
    Any chance of making this a bit more unreadable?

  7. #7
    Thailand Expat
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    1.00 EUR
    Euro =42.7906 THB
    Thailand Baht

  8. #8
    Thailand Expat
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    1.00 GBP
    United Kingdom Pounds =64.9846 THB
    Thailand Baht

  9. #9
    Thailand Expat
    Little Chuchok's Avatar
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    ^from where?Is that the offshore rate?

  10. #10
    Thailand Expat
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    1.00 CHF
    Switzerland Francs =26.4816 THB
    Thailand Baht

    it was 29 few days ago ! and i have some transfer on the way

    Normally on mondays it climbs for the better always, but this move was big and rather expected the other way round this times !

  11. #11
    Thailand Expat
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    XE.com - UCC Error

    from here...

  12. #12
    Thailand Expat
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    Quote Originally Posted by Gerbil View Post
    Quote Originally Posted by forreachingme View Post
    American Dollar 0.0293513 34.07 Australian Dollar 0.0377558 26.486 Brazilian Real 0.0625183 15.9953 British Pound 0.0148969 67.1281 Canadian Dollar 0.0345788 28.9194 Chinese Yuan 0.228075 4.38453 Danish Krone 0.168506 5.93451 Euro 0.0226127 44.2229 Hong Kong Dollar 0.229125 4.36442 Indian Rupee 1.29586 0.771687 Japanese Yen 3.55063 0.28164 Malaysian Ringgit 0.10273 9.73429 Mexican Peso 0.322498 3.1008 New Zealand Dollar 0.0419483 23.8388 Norwegian Kroner 0.18523 5.39868 Singapore Dollar 0.0450455 22.1998 South African Rand 0.21243 4.70743 South Korean Won 27.4699 0.0364035 Sri Lanka Rupee 3.18902 0.313576 Swedish Krona 0.205269 4.87167 Swiss Franc 0.0365101 27.3897 Taiwan Dollar 0.964191 1.03714 Venezuelan Bolivar 62.9469 0.0158864

    This was for 25.01.2007
    Any chance of making this a bit more unreadable?

    may be logging in here...

    Exchange Rates Table for Thai Baht, Thailand

    then you can convert in chinese....

  13. #13
    RIP
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    My SBC Site says buying 35.93 Selling 36.13 Exchange 35.73 Baht to USD.

    I tried to copy paste it and it don't work. but check it
    Siam Commercial Bank..

    https://www.scbbusiness.com/exchange/bk-txtexchange.htm
    Last edited by blackgang; 26-01-2007 at 11:22 PM.

  14. #14
    Thailand Expat
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    Quote Originally Posted by blackgang View Post
    My SBC Site says buying 35.93 Selling 36.13 Exchange 35.73 Baht to USD.

    I tried to copy paste it and it don't work. but check it
    Siam Commercial Bank..

    https://www.scbbusiness.com/exchange/bk-txtexchange.htm


    January 26, 2007 19:30Unit: Thai Baht


    08:30 14:29 19:25 Foreign CurrenciesBank Selling RatesBank Buying Rates
    D/D

    &
    T/T
    Notes
    T/T
    Export Sight Bill
    T/Chqs.
    &
    Chqs.
    Notes

    US DOLLAR $50-$100 USD
    35.93

    36.13
    35.73
    35.63
    35.63
    35.5

    US DOLLAR $5-$20 USD1
    35.93

    36.06
    35.73
    35.63
    35.63
    35.06

    US DOLLAR $1-2$ USD2
    35.93

    36.02
    35.73
    35.63
    35.63
    34.68

    EURO EUR
    46.5575

    46.79125
    46.0925
    46.0025
    46.0025
    45.8

    BRITISH POUND STERLING GBP
    70.8

    71.1275
    70.17375
    69.92375
    69.92375
    69.35

    JAPANESE YEN:100 JPY
    29.635

    29.715
    29.24
    29.12
    29.12
    28.85

    SINGAPORE DOLLAR SGD
    23.455

    23.5975
    23.14375
    23.05375
    22.99375
    22.95375

    HONG KONG DOLLAR HKD
    4.61

    4.66625
    4.5678
    4.5378
    4.5078
    4.4825

    AUSTRALIAN DOLLAR AUD
    27.95625

    28.09125
    27.57625
    27.47625
    27.47625
    27.27375

    NEWZEALAND DOLLAR NZD
    25.20375

    25.6925
    24.82375
    24.70375
    24.70375
    24.5975

    SWISS FRANC CHF
    28.85

    28.89375
    28.50625
    28.40625
    28.40625
    28.0725

    SWEDISH KRONA SEK
    5.12625

    5.15625
    5.0725
    5.0225
    5.0025
    4.8875

    DANISH KRONE DKK
    6.2525

    6.2825
    6.18
    6.15
    6.125
    5.935

    CANADIAN DOLLAR CAD
    30.48875

    30.60625
    30.1175
    29.9875
    29.9375
    29.635

    INDIAN RUPEE INR
    0.862

    -
    -
    -
    -
    -

    NORWEGIAN KRONE NOK
    5.68875

    5.71625
    5.6
    5.58
    5.56
    5.44625

    BRUNEI DOLLAR BRD
    -

    23.5
    -
    -
    -
    22.4

    INDONESIAN RUPIAH IDR
    -

    0.005
    -
    -
    -
    0.0025

    MALAYSIAN RINGGIT MYR
    -

    10.5
    -
    -
    -
    9.14

    CHINESE YUAN CNY
    -

    4.97
    -
    -
    -
    4.05

    KOREAN WON KRW
    -

    0.041
    -
    -
    -
    0.029

    TAIWAN DOLLAR TWD
    -

    1.19
    -
    -
    -
    0.88

    UAE DIRHAM AED
    -

    10.2
    -
    -
    -
    7.75

    BAHRAINI DINAR BHD
    -

    96.33
    -
    -
    -
    59.63

    OMANI RIAL OMR
    -

    94.21
    -
    -
    -
    59.41

    QATAR RIAL QAR
    -

    10.22
    -
    -
    -
    7.67

    SAUDI ARABIAN RIYAL SAR
    -

    10.19
    -
    -
    -
    7.58

    SOUTH AFRICAN RAND ZAR
    -

    5.45
    -
    -
    -
    3.65

    Copy and paste form Siam Commercial Bank...

    Looks like they went to the pub a bit early !
    Last edited by forreachingme; 26-01-2007 at 11:30 PM.

  15. #15
    ding ding ding
    Spin's Avatar
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    I think xe website quotes crappy excahnge rates for tourists.
    I cant find any sign of these changes claimed above in the proper places like the Uk and Thai bank websites forex pages.

    But just now I found this which explains further.......

    From Controls causing baht to trade stronger

    Controls causing baht to trade stronger

    "Thailand's capital controls are creating a disparity in the baht's exchange rate, with the currency trading at a much stronger level outside the country than inside.

    The baht was trading at 35.855 to the U.S. dollar inside Thailand late Friday, while outside the country -- or "offshore" in currency lingo -- the baht was trading in the 33.60-33.75 range, about 6 percent stronger.

    The disparity has developed due to the lack of supply of baht trading offshore because of controls on foreign capital inflows imposed by the Bank of Thailand in December.

    Aiming to stem the baht's surge, the central bank last month imposed a 30 percent withholding deposit on selected capital inflows and penalties on investments held for less than a year.

    The withholding means that only investors certain they will be eligible for a timely exemption want to buy baht from an onshore institution. Other investors are left to bid up the limited supply offshore.

    The baht's surge offshore prompted exporters to sell the dollar in local markets, but traders believed that the central bank was restraining by buying dollars to counter that.

    Bank of Thailand Governor Tarisa Watanagase told exporters to be calm, saying it was wrong to think that the strengthening of the baht offshore would affect the exchange rate onshore.

    The dual-pricing is evidence that the central bank's capital controls work, she said.

    Trading volume offshore has been very light, much lighter than the onshore volume, traders said.

    Traders also suspected the central bank of intervening in offshore markets in late trade to take the bid for the dollar off a low of around 33.00 baht to ease the psychological pressure in the onshore market.

    Traders said further high volatility is expected offshore over the weekend, due to the lack of baht supply and the lack of any end in sight to the situation, despite the central bank's assurances that the controls are temporary and will be very gradually removed."
    Last edited by Spin; 26-01-2007 at 11:34 PM.

  16. #16
    Thailand Expat

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    As LC states at the top "People are buying Thai baht' hence despite everything currently happening including the lowering of interst rates the baht continues to appreciate.

    A few analyst comments that i have read still think that current situation is a blip and that medium/long term the Thai economy looks good.

    Most analysts advising folks re Thailand don't actually live here so have perhaps a different perspective and don 't forget analysts as these were recommending eurotunnel was a great buy at its launch and that robert Maxwell was a great guy to lend money to etc and that enron was just too complicated for the little folk to understand but gee what a great company etc..... ad infinitum

    Personally don't quite understand the strong baht either, don't think it is sustainable. Interest rates have been cut to stimulate poor domestic demand and a strong baht is going to hurt exports at some point.
    Add to that the growing frustrations of the foreign commuinity in Thailand and it is hard to see growth contiuing. that without the keystone politicians

    Take advantage when you think it is at its highs buy dollars or GBP or whatever

  17. #17
    ding ding ding
    Spin's Avatar
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    A question.

    I got million baht in cash here in Thailand, how can i sell it to buy GB pounds at today rate 64.64? I can send it out through my SCB account but they are quoting 70.8.

    Any ideas?

    Presumably if there is a way to do it i can then send the money back again getting 70 to the pound thus doubling the profit
    Last edited by Spin; 27-01-2007 at 02:24 AM.

  18. #18
    I am in Jail
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    can any of you guys learn how to use the copy/paste functions ?

    32 THB for USD ? what is the world coming to

  19. #19
    punk douche bag
    ChiangMai noon's Avatar
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    my trusty currency converter says 33.4

  20. #20
    I am in Jail
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    Quote Originally Posted by Helicopter
    Aiming to stem the baht's surge, the central bank last month imposed a 30 percent withholding deposit
    That worked really well then.

  21. #21
    I am in Jail
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    well at least locally it's still 36 THB

    holly fuck

  22. #22
    Thailand Expat
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    shit - thats huge..... no good for me

  23. #23
    RIP
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    CMN, check that SCB site, thats what I get at the ATM, but I use SCB antway for my banking

  24. #24
    Thailand Expat
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    Baht surges as offshore supply slides

    Friday, January 26, 2007

    The Thai baht rose Thursday to the strongest since 1997 in offshore trade, spurred by speculation of demand from global funds to buy stocks.The currency rose to as strong as 33.91 per dollar from about 35 in late Asian trade Wednesday.
    The Bank of Thailand said the baht rose due to pressure from quotes in offshore foreign exchange markets, where the supply of baht has been limited by the central bank's imposition of a 30 percent one-year withholding on many types of capital inflows.
    Bank governor Tarisa Watanagase said the rise in the baht was not due to capital inflows, showing that the 30 percent measure was still working as intended to close off speculative flows that drove the currency to a nine-year high last month.
    The yuan had its highest close since the end of the US dollar link in July 2005 on speculation China will be unable to rein in its record foreign- exchange reserves anytime soon, as funds pour into the country.
    The Chinese currency climbed to 7.7705 against the dollar at the close in Shanghai from 7.7725 Wednesday.
    Yu Yongding, a former adviser to China's central bank, said Beijing officials should coordinate foreign exchange reserve policy with other Asian central banks to prevent volatility in currency markets.
    "We don't want to see this sort of thing happen," Yu, who is a member of the Chinese Academy of Social Sciences, said in Davos, Switzerland. Coordination of any foreign exchange diversification is very important otherwise other central banks might be panicked by sudden moves, he said.
    Asian central banks have been building up reserves of US assets since the 1997 regional financial crisis, partly to ensure they can support their currencies should investors withdraw funds.
    South Korea's won dropped as much as 0.1 percent after a central bank report showed the economy slowed more than expected in the fourth quarter and exports fell.
    The won weakened to as low as 937.20 and ended the day little changed at 936 against the dollar.
    The Malaysian ringgit held at 3.5005 against the dollar, near the highest since 1998. In Indonesia, the rupiah was at 9,103 against the dollar. The Singapore dollar rose 0.1 percent to S$1.5347 and the Philippine peso closed at 48.81 from 48.84 Wednesday.
    AGENCIES
    News is what someone, somewhere is trying to suppress - everything else is just advertising.

  25. #25
    lom
    lom is offline
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    Quote Originally Posted by Helicopter
    I got million baht in cash here in Thailand, how can i sell it to buy GB pounds at today rate 64.64? I can send it out through my SCB account but they are quoting 70.8. Any ideas?
    Go to your nearest bar and you will within a short time find an English punter who intends to open his own.
    He has the opposite problem of yours .
    Do a deal with him and none of you need to transfer any money outside England or Thailand..

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