Thai Bhat

[SamplerDoc]

Yep, Thats a Better Rate there RX

The Site I used is

http://www.xe.com

I think if the Bhat ever hits 40 plus again, I Will buy Lots of it

[Guest]

Just back, used atm solely, 10,000 baht cost me USD
$ 289.77, 34.51 baht for the buck, not bad at all
USD $ 5.00 atm fee not included

[Snick]

There are TWO different rates for the Baht, as a result of currency controls.

What Thailand has done is a poorly thought out currency control, to try and limit people speculating on the baht. As a result the Baht trades differently inside Thailand then outside of Thailand
This is very different then what China does, which is prop up the currency by buying lots of dollars ( which stops the RMB from appreciating - but doesn't create a separate price for the RMB )
I Still do not understand why Thailand did not follow the Chinese mode (which is what a lot of countries do )

1) is the Domestic rate - that is ~34.6
2) is the offshore rate at 32.5, this is Thai Baht exchanged outside of Thailand

if you look at Bloomberg they show both rates

If you do FX trade, you will be using the offshore (shitty) rate

If you use an ATM or Credit card, you will get the domestic rate - but no guarantees.

Inside Thailand you will get the domestic rate. Wire transfers too, but keep it under $20,000 USD or you will trigger currency controls.

[SamplerDoc]

    Very Helpful Info Snick  

Thanks a Bhat, Buddy

[Interested]

What is the limit of foreign currency brought in to the country in cash?

[dummy_plug]

I don't think Thailand will stop you from bringing IN money, but your home country likely has currency controls. For example, in the US, anyone carrying more than $10,000 in cash (correct me if I'm wrong on the exact amount) must declare it. If for some reason they detect you at the airport with more than that and you haven't filed the correct forms declaring it, then I'm sure something bad happens to you. Very bad.

[SamplerDoc]

 I believe that is Correct in All Aspects  

[moe666]

I know it use to be 10,000 dollars but saw something a while back about 5,000 dollars didn't read the article but maybe worth a check out.
I donot believe there is a limit on what you can bring into Thailand but if you have a retirement visa I think they want it wired in.

[thaibound]

(kahuna @ Dec. 19 2006,23:14) 5 baht is like 14 cents USD...Not something that i would lose any sleep over...

yeah, but 5,000,000 baht is like $140,000 usd - now would *that* keep you up at night!!??

[thaibound]

(Snick @ Jun. 12 2007,11:27) There are TWO different rates for the Baht, as a result of currency controls.

1) is the Domestic rate - that is ~34.6
2) is the offshore rate at 32.5, this is Thai Baht exchanged outside of Thailand

if you look at Bloomberg they show both rates

If you do FX trade, you will be using the offshore (shitty) rate

If you use an ATM or Credit card, you will get the domestic rate - but no guarantees.

Inside Thailand you will get the domestic rate. Wire transfers too, but keep it under $20,000 USD or you will trigger currency controls.

thanks for the info Snick

so i'm figuring if i book the dynasty grande at their 2280baht/night rate but i pay from the states before i come over, i'm gonna pay $71usd, *but* if i ask them to "hold my room" and i pay when i get to the desk, that same 2280 baht will only cost me $66usd. saving about $5usd/night for the projected 30 nights of my tour (at various hotels) and i've saved enough for 2-5 more ladyboys! - depending on whether they're LT from the Guess Bar or ST from pattaya looking at it that way, that little exchange rate ploy becomes like real fucking money!

but if i pay --at the desk-- using my credit card, how do i know what the cc company will charge me in usd? am i safer/better to change the money at an atm (at the better rate) and just pay cash everywhere i go in LOS?

damn i miss those 40baht to the usd days of "way back" -- in 2005!!

[PigDogg]

If you like emerging market currencies then PLMIX is an American mutual fund that's anti-dollar play.

Most bonds issued by third world governments are dollar denominated because investors demanded that safety. But I think holding dollars is dangerous especially if one is planning to move to Thailand.

Top Ten Holdings       as of 12/31/2006  

United Mexican Sts Mtn Be FRN - 01/13/09
Korea Dev Bk FRN - 10/20/09
Malaysian Ringgit Ndf - 03/05/07
South Korea Won-Ndf - 04/18/07
Thailand Baht - 02/02/07
Indonesian Rupiah-Ndf - 02/28/07
Slm FRN - 07/27/09
South Korea Won-Ndf - 02/26/07
Russian Ruble Ndf - 02/15/07
Indian Rupee-Inr Ndf - 05/07/07


Profile:

The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund invests 80% of assets in currencies of, or in fixed income instruments denominated in the currencies of developing markets. It may invest up to 15% of total assets in debt rated below B. The average portfolio duration is not expected to exceed eight years. It is nondiversified.

[SamplerDoc]

PD,

That is an Excellent find Indeed  
Perhaps looking for that Kind Of Play is good but not sure about that mix of currency, it all seems too risky.

Wonder if there is one that also plays the Euro or Pound mixed in

[EyeMahk]

Right now, the top 5 currency exposures in PLMIX are:

POLAND 10.4%
SINGAPORE 10.3%
BRAZIL 10.1%
MEXICO 9.9%
CZECH REPUBLIC 7.3%

[moe666]

So if you change your US dollar to chinese yuan in the states and then exchange to Thai Baht upon arrival in Thailand how will it work out. Thanks to Bush and the republican congress of the last few years if you have US dollars just grin and bear it. Pray for another asian melt down.

[BAM]