#  >  > Living And Legal Affairs In Thailand >  >  > Thailand and Asia News >  >  > Business, Finance & Economics in Thailand >  >  Baht into dollars or Euro? Best way to exchange

## Ripley

*Baht into dollars Best way?*     ...and get it to account in Singapore ?


 I'm about to unload the baht,  any advice for getting it into dollars? 
Seems banks in Thailand are all about gouging fees in foreign exchange accounts - should I wire it to my Singapore foreign currency account in baht? 

 Any thoughts on better to buy dollars or euros?

Why are rates on buying different than selling?  Which applies to selling baht and buying dollars?

Thanks

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## Ripley

Also do not understand 1 / 5-  10 / 50 - 100    is this actual bill denomination? 

Todays rate from KAsikorn   

http://www.kasikornbank.com/EN/Rates...nExchange.aspx



FOREIGN                     CURRENCIES                     Description                    BANK NOTES                    TRAVELLERS' CHEQUES                     EXPORT SIGHT BILL                    TELEX TRANSFER                    TT&DRAFT T/CHEQUES                     BANK NOTES                USD 1     USD : 1                                           28.71               29.64               29.64               29.74               29.99               30.09               USD 5-20  USD : 5-20                                        29.05               29.64               29.64               29.74               29.99               30.12               USD 50-100USD : 50-100                                      29.48               29.64               29.64               29.74               29.99               30.14

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## Butterfly

> Also do not understand 1 / 5- 10 / 50 - 100 is this actual bill denomination?


yes, these are for notes, you can ignore since your THB isn't in cash

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## Ripley

^thanks for that

 Sorry to have hi jacked other thread

 Am calling Sing to ask about hold baht

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## Ripley

> Originally Posted by Ripley
> 
> Also do not understand 1 / 5- 10 / 50 - 100 is this actual bill denomination?
> 
> 
> yes, these are for notes, you can ignore since your THB isn't in cash



 but it could be  it is in  cd

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## Butterfly

cold hard cash, CD isn't hard cash per se

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## Ripley

or.. GOLD !!!




> _ from other thread baht appreciates_ 
> 
> ^ yep but also saying Thai banks will exchange Baht to USD, EURO etc in house at close to the best retail exchange rates in the world. You can buy USD bank notes from a chinese money changing house here for extremely competetive rates if it's a decent amount.



Chinese money house?  Sounds dubious. So get the cash  and walk it in ?

( Make appointment first so as to assure robbery ?)

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## aging one

> Chinese money house? Sounds dubious. So get the cash and walk it in ?  ( Make appointment first so as to assure robbery ?)


Super Rich, so damn easy. The wife is changing 930,000 baht for me today.

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## Ripley

We have Super Cheap here on Phuket  :Smile:

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## Butterfly

> Super Rich, so damn easy. The wife is changing 930,000 baht for me today.


except the rates they advertise on their website are not the one you actually get, at least in the "Shop Booth" the rates are in par with everyone else, sometimes even worse

make sure to check the fine print  :Razz:

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## Ripley

Ok Need to call bank and ask the rate and decide from there..

 Thanks  for the help .

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## Ripley

Whoops wait still confused on" buy"   or "sell" , which pertains ?

 I'm selling baht and buying another currency, so..

Using this graph...

http://www.krungsri.com/en/foreign-exchange-rates.aspx

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## Butterfly

it's the same depending the base you are using:

1/Sell Bid == Buy Ask

to make it easy, always take the worst rate between the 2 and that is what you will get, quite simple

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## 9999

> or.. GOLD !!!
> 
> 
> 
> 
> 
> 
>  Originally Posted by 9999
> 
> ...


Well, as safe as a bank IMO. Just trying to help giving real world examples. Up to you. If you're so flush why don't you have a HSBC account?

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## Ripley

I'm selling baht, so do I use the sell rate?

OR 

I'm buying dollars so do I use the buy rate? 

 I don't see bid or ask - is that for-ex term?

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## Ripley

> Originally Posted by Ripley
> 
> 
> or.. GOLD !!!
> 
> 
> 
> 
> 
> ...


 I appreciate it, I just hadn't heard of it and thought you're were being flippant 
 I would have to travel to Bangkok and I was joking about putting 3 mil BAHT  into a bag.

 I went to Singapore several years ago and DBS was the bank I could open an account with.  HSBC wanted me to have a referral and I didn't.  I spent the rest of the day trying to apply at  several other banks ending up at DBS where I stood outside the  Orchard St branch finally getting  a  stranger  with an account there to vouch for me.

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## Thaihome

^^If you convert the 3 mil into USD in Thailand and carry to Singapore you will be required to file a Physical Currency and Bearer Negotiable Instruments Report (Traveller) or NP727 form when entering. 
Personally I would avoid carrying some 100k USD in cash with me pretty much anywhere, much less on a plane into Singapore.
Just go to your bank and tell them to wire the money as USD into you Sing bank account.

According to Bangkok Bank you will need the following information to make the transfer out:
To transfer funds overseas you will need the following information: 


The recipients account name, account number and addressThe name and address of the recipients bankThe SWIFT address of the bank that they have an account with (if any)Supporting document (Thai citizens  A document stating the purpose of the fund transfer; Foreigners - A document stating the source of the income).
As it appears you will be using the money in Malaysia, it seems to me you are going to lose whatever gains you make on the THB-USD conversion (minus comission and transfer fees) when you convert to MYR (minus commision again and transfer fee again). 

If you are truely leaving Thailand forever, I would just send to Malaysia once, but that is just me.


TH

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## 9999

^^ It's not that uncommon in Thailand for people to deal with large amounts of cash (10K USD equivalent +). This chinese place is very professional with the same security set up as a bank. They might actually be a bank, I will find out more. They definately have the best exchange rates for the amounts you're talking about.

At least for coming in to Thailand, if you want to avoid all the fees, take cash in your home currency and go see the chinese brokers, then deposit that Baht into the bank. Save quite a bit and I'm almost certain it works the other way around. The risk you take carrying cash is up to you. I'd feel safer doing it in Thailand than say the USA or UK.

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## Ripley

> ^^If you convert the 3 mil into USD in Thailand and carry to Singapore you will be required to file a Physical Currency and Bearer Negotiable Instruments Report (Traveller) or NP727 form when entering. 
> Personally I would avoid carrying some 100k USD in cash with me pretty much anywhere, much less on a plane into Singapore.
> Just go to your bank and tell them to wire the money as USD into you Sing bank account.
> 
> According to Bangkok Bank you will need the following information to make the transfer out:
> To transfer funds overseas you will need the following information: 
> 
> 
> The recipients account name, account number and addressThe name and address of the recipients bankThe SWIFT address of the bank that they have an account with (if any)Supporting document (Thai citizens  A document stating the purpose of the fund transfer; Foreigners - A document stating the source of the income).As it appears you will be using the money in Malaysia, it seems to me you are going to lose whatever gains you make on the THB-USD conversion (minus comission and transfer fees) when you convert to MYR (minus commision again and transfer fee again). 
> ...


   That makes sense but I have funds already in MY .

 I wasn't considering  physically cashing in and carrying funds to Sing.

 The question is;
 To exchange in Thailand pre TT or Singapore post TT.

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## Ripley

> ^^If you convert the 3 mil into USD in Thailand and carry to Singapore you will be required to file a Physical Currency and Bearer Negotiable Instruments Report (Traveller) or NP727 form when entering. 
> Personally I would avoid carrying some 100k USD in cash with me pretty much anywhere, much less on a plane into Singapore.
> 
> 
> 
> TH


 So what currency is least dense for secret smuggling purposes?

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## Ripley

Uh Oh just noted this on bottom of the page 

Amount greater than USD 20,000.- or equivalent ,         	      please contact treasury department, Telephone  :Sad: 662) 296-4361-70

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## Butterfly

> I went to Singapore several years ago and DBS was the bank I could open an account with. HSBC wanted me to have a referral and I didn't. I spent the rest of the day trying to apply at several other banks ending up at DBS where I stood outside the Orchard St branch finally getting a stranger with an account there to vouch for me.


I had a friend in Singapore who had an account at DBS and therefore had to sponsor me. They are quite strict for banking over there, and they are a bit crazy with money laundering. Yet they remain the leading place for dodgy deals all over in Asia, like Switzerland, so that "good standing" crap is only superficial and for the obvious idiots like you and me trying to open a simple bank account.

Their stock market is even worse, full of dodgy and fraudulent companies that are rejected from everywhere, mostly HK. Terrible corporate governance provisions and market transparency. Thailand is 50 years ahead in that sense.

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## wefearourdespot

> Their stock market is even worse, full of *dodgy and fraudulent companies* that are rejected from everywhere


for example ? (second time I ask you this question actually)

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## Thaihome

> Originally Posted by Butterfly
> 
> Their stock market is even worse, full of *dodgy and fraudulent companies* that are rejected from everywhere
> 
> 
> for example ? (second time I ask you this question actually)


Up to 2006, you could start with:

Citiraya Industries Limited 
Advanced Micro Devices (S) Pte Ltd
ST Microelectronics Asia Pte Ltd (ST Micro)
Chartered Semiconductor Manufacturing Ltd 
Performance Motors Limited
Centrepoint Properties Pte Ltd

Singapore trys very hard and does rate very high in corporate governance, but you just cant keep the Chinese down.
 :mid: 
TH

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## Butterfly

one famous one FIBRE CHEM, Bermuda Registered, factory in China, reporting in USD, and the CEO did a runner, and SGX refuse to delist or acknowledge the stock is a fraud

that's on the top of my head, but the list is quite long. There has been quite a few funny ones, one with non-existing cow semen storage room facility etc...

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## wefearourdespot

> one famous one FIBRE CHEM


which one, NCPS or TECH ? oh, wait I see SGX delisted both of them  :Smile:

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## wefearourdespot

any thoughts over Gaoxian , Innotek and Sinopipe ?

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## Butterfly

^ sure, let me check my files  :Smile:

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## Ripley

> Uh Oh just noted this on bottom of the page 
> 
> Amount greater than USD 20,000.- or equivalent ,                   please contact treasury department, Telephone 662) 296-4361-70



 Calling this  #  today (Mon Oct 11  10 AM )gets a rate of 30.1  

A friend tried to explain through a bunch of math which I cannot pretend to understand, gist was the Ayudyha  rate offer  from Fri was about 6 times what it should be.  Which would make the Govt Offer also bad. 

  I didn't get passed around at all when I called which makes me think she might not have had authority to quote or had no idea what I was talking about.  

Mmmmmm

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## Butterfly

they have raised the incoming min to 50,000 USD instead of 20,000 USD

and possibly the same for outgoing,

I am not sure what you are still puzzling over, you already lost 100,000 THB waiting to make a decision when it was 29  :Razz:

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## aging one

On Friday I changed 600,000 baht into 20,000 dollars at super rich. It took 5 minutes no paper work and I had a nice stack of hundreds when I walked out.

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## Butterfly

> On Friday I changed 600,000 baht into 20,000 dollars at super rich. It took 5 minutes no paper work and I had a nice stack of hundreds when I walked out.


was the rate better than the other banks ? I always found my interbank rate during a transfer to be better than those advertised here

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## Butterfly

and why would you want to take the risk to hold bank notes ?  :mid:

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## Ripley

> On Friday I changed 600,000 baht into 20,000 dollars at super rich. It took 5 minutes no paper work and I had a nice stack of hundreds when I walked out.


 I just don't have that luxury. 

 Others think that Fri  as low as would go too?

 My friend  thought keeping baht was not a bad idea  it is getting some interest, and counting in the dollar  and EU demise.

Seems everyone agrees, it is extremely complicated but  seems kinds basic too, If I'd sold Fri, I'd have a nice little profit , today not so nice, tomorrow..? 

 I think  I need, we all need - to get to a home that is sustainable.

 One good solar flare and all this electronic money is shit. 

And so is a lot of information 

  Food ,  land  shelter  and water  will be the only thing with any real value.

 And information 
 Save your books..

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## Ripley

> Originally Posted by Ripley
> 
> Chinese money house? Sounds dubious. So get the cash and walk it in ?  ( Make appointment first so as to assure robbery ?)
> 
> 
> Super Rich, so damn easy. The wife is changing 930,000 baht for me today.





> On Friday I changed 600,000 baht into 20,000 dollars at super rich. It took 5 minutes no paper work and I had a nice stack of hundreds when I walked out.



  AWhhhh  Embellishing !!!!  And you got 30  when it was at 29.5 ...


 I need magic money dust    I do wish I'd listen to everyone 5 years ago when they said buy gold

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## aging one

> and why would you want to take the risk to hold bank notes ?


why not, I trust the dollar a lot more than the baht. Just hand carry the money home.

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## Ripley

> they have raised the incoming min to 50,000 USD instead of 20,000 USD
> 
> and possibly the same for outgoing,
> 
> I am not sure what you are still puzzling over, you already lost 100,000 THB waiting to make a decision when it was 29



 I still don't understand..


 If I SELL BAht And BUY Euros 
 Which rate do I get as it is quite a difference.

 Buy or Sell ?

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## Butterfly

> why not, I trust the dollar a lot more than the baht. Just hand carry the money home.


^ nothing wrong with holding the USD, my question was why bother with notes ? a bit risky,

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## Ripley

From a friend ..



When buying or selling a currency, the bank will hit you with a transaction few per unit.
When you change currencies, you should expect to pay a small amout per unit in order to convert.
This is a spread and typically should be small.  However, when you buy hundreds of thousands of units,
even a small spread will add up fast.   Toying with the spread is how banks try to rob you.  Bank of America
does this to me all the time.  I am usually overcharged by a $1000.00 or so and I have to threaten to sue them
to get half of that back.  I do not mind them screwing me.  I do mind when it hurts.


For your problem lets look at two examples, buying THB with USD and buying USD with THB.
Today, the THB/USD exchange rate is 0.0335.  This means that to buy THB with USD you would in theory get
29.85 THB per USD.  In fact you will likely get 29.41 THB per USD (or less) since practically
you will be paying at least 0.0005 per unit.  The bank link is offering only you 28.72 THB per USD.

It is not clear if this includes the transaction fee.  That offer makes the practical exchange rate THB/USD as 0.0348.
That gives the bank a (highly profitable spread) of 0.001318, not 0.0005.  As you can see it is over twice a reasonable spread.
Now look at buying USD with THB.  Again the exchange rate is 0.0335.  This means to buy USD with THB you would in theory
get 0.0335 USD per THB or 3.35 USD per 100 THB.  In fact, if we again consider a 0.0005 transaction charge per unit
you would see 0.0330 USD per THB or 3.30 USD per 100 THB.

 The bank however shows a "selling THB to buy USD" rate of
30.17 per 100.  This means you would see 0.03017 USD per THB or 3.01 USD per 100 THB. 
 This offer makes the practical exchange rate THB/USD as 0.03017.  This gives the bank a spread of 0.00333 not 0.0005.  It makes their "selling THB to buy USD" spread six times what it should be.  Perhaps if you are in fact selling THB to buy USD you should consider another bank.

Like them or not politically, Sarkozy's and Merkel's governments in France and Germany have done a better
job managing the EU's economy than our government has done managing ours.  The spread between the USD and the Euro reflects
this.  The USD/Euro has gone from 1.2975 ( 23 Jan 2009) to 1.3971 today.  

The relative spread on the THB between the USD and the Euro has gotten even worse. 
 The THB/USD has gone from 0.0286 ( 23 Jan 2009) to 0.0335 today.  This means even if you sold THB at the bank's
rate of 0.03017 you would be ahead in realative terms against the dollar. 

Contrast this with the Thai Baht's performance against the Euro.
The THB/Eur has gone from 0.0221 (23 Jan 2009) to 0.0240 today.  That is not much of a change and makes conversion from
THB to Eur not worth the effort at this time.  This means that the Thai government is doing at least as good a job on their economy
as Sarkozy and Merkel are doing in Europe (with no help from the Greeks).

Most economic problems are compared to what type of issues.  The question of converting Baht 
is relative and depends on what you are trying to do.  You live in a Baht zone, i.e., Thailand, and a strong Baht is good for you.
In fact, however, the Baht is only strong against the US Dollar.  The Baht is neutral relative to the Euro.  Personally, I think this is good.

If you are paid in Euros, at the present time I would keep Euros.

Likewise, if you are paid in Dollars, at the present time I would stay in Dollars.
The Euro is now up against the Dollar.  Recently, due to the mis-management in Greece, a Euro zone country, the Euro had declined
against the Dollar.  It had been as low as $1.19 per Euro.  Ironically, that would have been the best time to convert dollars to Euros.
During Bush's mis-management of the economy,the Euro went as high as $1.58.  After the US economic crisis stablized, the Euro went back down.

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## Butterfly

> My friend thought keeping baht was not a bad idea it is getting some interest, and counting in the dollar and EU demise.
> 
> Seems everyone agrees, it is extremely complicated but seems kinds basic too, If I'd sold Fri, I'd have a nice little profit , today not so nice, tomorrow..?


hence my original question of your motivations for doing the transfer. You can't simply FX speculate with cash, you need a trading account for that kind of activity, not bank accounts.

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## Ripley

^ BF, Thanks for your help so far. Can I ask please, 

what trading company  would you recommend?

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## Butterfly

recommendation for exchange transfer or holding USD ?

I suspect the THB appreciation is done, it reached it's annual target, it might actually retrieve in the next 12 months back to 31 or 32, unless someone is playing the "THB", also possible, but it's going to stabilize, 11% in one year is quite a lot.

Hopefully the government will do something irrational, and push the THB back to 35  :Razz:

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## Butterfly

when the SET reaches 1000, a lot of investors are going to "cash" their profits, and wait or transfer back to USD.

Currently trading at 970  :Razz:

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## Butterfly

I am thinking of buying Forward Currency contracts to "hedge" against my USD expenses  :Razz:

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## Ripley

Can you recommend a ForEx  account company?    so many online .......

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## Butterfly

^ wouldn't recommend any of them actually as it's a dodgy business for those online platforms, many are hidden scams. I am using my "prime broker" for that.

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## Boon Mee

Banks in Singapore - best vehicles with which to do the FX thing locally. But, as Butterfly previously posted, one needs to have a sponsor for HSBC etc. My wife opened hers here getting docs validated at the main branch on Rama IV and posting to Singapore.

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## Ripley

A call lto DBS where I hold foreign currency accounts says best to exchange first because they exchange into do a Sing $   first and then  to EU or USD ..

She also warned me about some Thai bank's agent fees


 Shit     BAck to square one  - or  keep in Sing $, but  not living  in Singapore    
  IS Sing floated or pegged ( whatever that means)

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## Butterfly

wire to your USD account in the US ? what's wrong with that ?

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## Ripley

No such animal .. when I got out I got all the way out, no accouts there anymore
I have a 3000 US dollars in a separate savings account at DBS as requisite for other currencies and that's it. 

Maybe I should call back ..Why can't I wire baht to that account ?

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## Butterfly

it's technically illegal to carry or hold THB outside Thailand, with a few exceptions

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## Ripley

No I mean wire the baht which gets exchanged into dollars for that USD account  by passing the SGD.
 I'm calling back maybe I didn't make it clear I had that account 

This is the time, I don't think it will go much lower.

Just how not to get gouged and lose the profit??
I guess everyone wants to know that.

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## Butterfly

did you open a specific USD account in DBS ? I have one, and it has a different number than my SGD account, I can wire directly to that account in USD

with the THB, they will have to transfer first in SGD and then in USD, no other solution I am afraid, you will loose a bit on the exchange rate, maybe 2% so still acceptable

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## harrybarracuda

> it's technically illegal to carry or hold THB outside Thailand, with a few exceptions


Holy fuck, I've got 12,000 baht in my safe. Will I be in the shit, or shall I just bring it back to Thailand next week and spend it drinking and shagging? Will they ever forgive me?

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## Ripley

So is a good time to sell baht
As wiring money to my Sing account means a double exchange 



Or send to Sing and buy dollars and or EU ?

As I plan to return to US within 6 months or so...

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## Ripley

> did you open a specific USD account in DBS ? I have one, and it has a different number than my SGD account, I can wire directly to that account in USD
> 
> with the THB, they will have to transfer first in SGD and then in USD, no other solution I am afraid, you will loose a bit on the exchange rate, maybe 2% so still acceptable


 
I too have a foreign currency account But thsy insist it is exchanged into Sing first , then into EU or USD 
How are you  getting around this ?

 Today's  quote 

4. 38 SIng to 100 baht 

1.38 Sing to 1 US Dollar

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## Ripley

*Malaysian Ringgits to 1 THB* (invert,data)_120 days_*latest* (Oct 28)
0.103787*lowest* (Aug 6)
0.0981211*highest* (Oct 20)
0.104293

Good time to buy ringett with Baht ?

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## Norton

> As I plan to return to US within 6 months or so...


The way things are looking, baht will stronger in 6 months than it is now. Couple of ways to simplify. If you are planning on moving back to US, open US bank account and on line transfer from your Thai Bank to the US bank. If you plan to be in US temporarily, use your Thai Bank ATM. On line xfer to a US bank should be best return but In either case you avoid double exchange rate conversion.

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## Ripley

^ Thanks for that but opening a US account is not an option ...

You think the baht will continue to be worth more than the dollar, 

( stronger- = lower correct ? ) 
I also have a MY account should I buy MYR from graph above ? That cuts out the double exchange .
OR just put it into Sing, has  baht appreciated against the SING?

Thanks

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## Ripley

Or should I just put the USD into Sing $ 

Seems to be about the same rate of appreciation as the US dollar..

I just want to tke advantage of this higher ( or lower? ) Baht

*Singapore Dollars to 1 THB* (invert,data)_120 days_*latest* (Oct 28)
0.0433424*lowest* (Aug 3)
0.0419973*highest* (Oct 6)
0.0437553

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## Norton

> You think the baht will continue to be worth more than the dollar


Who knows but trend seems to indicate it will continue for some time. Trying to predict the bottom is fruitless so decide and exchange when you feel is a good time. Exchanging baht to another currency then to USD is a matter of doing the math but don't over look transaction cost of each exchange.

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## Ripley

> Originally Posted by Ripley
> 
>  You think the baht will continue to be worth more than the dollar
> 
> 
> Who knows but trend seems to indicate it will continue for some time. Trying to predict the bottom is fruitless so decide and exchange when you feel is a good time. Exchanging baht to another currency then to USD is a matter of doing the math but don't over look transaction cost of each exchange.


 I know , the math is  what has me so confused.....


 Can anyone answer, has the baht gained in value against the Sing $ ?

Against the MY Ringett ?

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## Norton

> has the baht gained in value against the Sing $ ?


 


> Against the MY Ringett ?


 Your posts. :Wink:

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## Ripley

I know...

  I have numbers dyslexia   coupled with graph spatial disorientation.. :Confused:  

 Please  .. Is it a good time to buy Sing and MYR

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## Butterfly

> The way things are looking, baht will stronger in 6 months than it is now. Couple of ways to simplify. If you are planning on moving back to US, open US bank account and on line transfer from your Thai Bank to the US bank. If you plan to be in US temporarily, use your Thai Bank ATM. On line xfer to a US bank should be best return but In either case you avoid double exchange rate conversion.


I disagree about the THB appreciating further, it should revert back to a mean of 33

good advice for the bank account, that's what I have been telling her from the beginning but she refuses to listen. Typical woman  :Smile:

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## Ripley

Sorry I'm not getting into why I will not not open a US account so really my questions are focussed on  getting funds into either MY or Sing accounts , Thanks

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## Ripley

Can anyone recommend a site with  graph that will show past 4 years ?

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## Ripley

OK  Looking at this http://www.investorsforum.com/Market...9/Default.aspx It has the baht and Sing  equal 

 So am I wrong.. I would lose all profit  by converting to Sing first  but what is  sing - dollar  ratio ... and then  factoring in Baht  - USD  dollar  

This is what I get for shirking out of maths class

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## Norton

> This is what I get for shirking out of maths class


Coming back to haunt ya, is it. 

Unless you have millions of baht it won't make any difference how you do it.

If you move from baht to MYR or SGD and then to USD you will lose the cost of two money transfers.

If you go from baht directly to USD, only one cost of transfer.

100,000 baht will get you about $3,338 today.

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## Butterfly

I don't think you should do this, obviously you are very confused with numbers, and you have only one efficient option, but you refuse to take it for different reasons

it's not like you can choose really, you have constraints and you will have to go along with them

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## Butterfly

> 100,000 baht will get you about $3,338 today.


yes we know, no need to remind us  :Sad:

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## Thaihome

> OK Looking at this http://www.investorsforum.com/Market...9/Default.aspx It has the baht and Sing equal 
> 
> So am I wrong.. I would lose all profit by converting to Sing first but what is sing - dollar ratio ... and then factoring in Baht - USD dollar 
> 
> This is what I get for shirking out of maths class


 
The only way you will make any gain from the appreciation of the baht to the dollar is to buy the dollars.  The changes in the baht to the Sing dollar and ringgit have been marginal and any fees will eat it away. 

You are falling into the trap I see many people do when they try to play the FX game with relatively small amounts of money.  They for some reason choose to ignore the fact that what ever you do, for the amount of money you have, whatever gain you think you deserve is going to go to fees.  Just send the money to the place you think you will need it.  If you dont need it, leave it in Thailand and save the fees.  

You are not an FX trader, quit trying to be one and just live your life.
TH

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## Butterfly

^ well said,

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## Ripley

> Originally Posted by Ripley
> 
> 
> OK Looking at this http://www.investorsforum.com/Market...9/Default.aspx It has the baht and Sing equal 
> 
> So am I wrong.. I would lose all profit by converting to Sing first but what is sing - dollar ratio ... and then factoring in Baht - USD dollar 
> 
> This is what I get for shirking out of maths class
> 
> ...


 
  True ,and I'm trying to avoid making mistakes..
 The sum I can gain  with it below 30 is not tiny and will make a very nice profit.


 Just trying to get as much infor advice and opinion as I can.

 Actually the  chines gold   shoppe  looks  like a best option though  I am VERY wary  of  the actual transactions...


Need to spend some time researching 

 Ok ,Thanks all     

 Back to the  bash !!

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## Ripley

OK Update on ..


 YES,  DBS  WILL TAKE the baht and convert it into USD $ without pre-convert to Sing $  as I do have a USD currency account..




 29. 5      Yeow     OK   wait another day to convert , any reports coming out that will effect 

 So the 4 times I called  in the last 2 weeks got a totally wrong answer until I insisted the correct department be queried.

 Reminds me of a visit to Tesco to look for bale fruit dried slices, asked 3 times  with an empty  package in Thai  to show ..

 "My Mee " the cashier,  assnt. manager and stock boy said ,

" My mee.."

  Looked around, there it was in the dried  stuffs section ..

 It's like this everywhere,  utter incompetence  or piss -poor work ethic?

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## Butterfly

be careful with DBS, they have a tendency to say one thing and do the other  :Razz: 

you might get a nice surprise for the conversion  :Wink: 

probably won't be much anyway if they do the double conversion, maybe 2% total

try and learn and let us know,

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## Ripley

Thanks B Fly ! 

 After your warning called again and talked to a manager within the department ,  Daniel who informed me  as they do not deal with Baht it MUST FIRST be converted to $Sing  and then  USD or what ever.

 He recommended to me to *convert prior to transfer* which was a big question 

 SO who selling best rates.


 And it's even lower than when I began researching  several weeks ago.  

 25 predicted !!! Mmmmm

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## sabaii sabaii

Try Vasu, On the corner of Sukhumvit Soi 7/1

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## Butterfly

don't think it will go 25 immediately, it seems to be stable around 29.5

the US is trying to repatriate capital by inverting the J-Curve for exporting countries,

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## Airportwo

> don't think it will go 25 immediately, it seems to be stable around 29.5
> 
> the US is trying to repatriate capital by inverting the J-Curve for exporting countries,


Is that good or bad, from what I read majority dont agree?
Good means USD will be stronger!    :Smile:

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## Butterfly

^ in that case bad, reverting the J-curve means that the THB will be so strong that all exports will stop and inflation will collapse in those countries, basically deflation. It creates a crisis, like in 1997, but reversed.

What the Fed is doing is quite "bold", instead of rising key interest rates, they are rebooting the whole system  :Razz:

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