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Is it a bad time to move money from a Thai bank back to the US due to high exchange rates?

Exchange Rates Money Transfer Currency Conversion Thailand Banking Expat Financial Advice Visa and Financial Regulations

Apr 3, 2024

9 months ago

ORIGINAL POSTER

I know the exchange rate is high. I’m really bad at the simple math. If I have money in a Thai bank, is this bad timing to move money back to the US? Any idea how much money I would lose just on the exchange rate?

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TLDR : Answer Summary

The conversation discusses the current high exchange rates and whether it's a good time to transfer money from a Thai bank back to the US. Community members emphasize the importance of knowing the original exchange rate when converting money into Thai Baht to understand potential losses. Advice includes either continuing to hold the money in Thailand or considering an agent for money transfer, depending on personal financial situations.

Phil ******

yes

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Lee ***********

With current Western interest rates, amount tied up in Thailand, depreciation etc, it's probably cheaper to use an agent. Just keep money you want to convert and spend! Just a thought, not suggesting you follow this lead, do your own math.

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Phil ********

What was the exchange rate when you exchanged it from $ to ฿?

Thats the only way you can work it out and you're the only one that will know.

Dates transferred?

How much

transferred?

If you're bad at simple math then you have no idea how to calculate this.

I can calculate it given the dates and amount.

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Bryn ********

ORIGINAL POSTER

Thanks for the offer. It’s been years. No idea of the rate. I’ll just carry on. I’ll lose some money, but what’s new. 555

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Bryn ********

ORIGINAL POSTER

Thanks for the offer. It was several years ago and no idea of the rate. I’ll just continue using the money I have here and not worry about it. Thanks again.

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Phil ********

Theres the rate for the last 10 years. You can work it out with this and your bank statements showing deposits. Well at least I could.

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Bryn ********

ORIGINAL POSTER

Any idea what these are highlighted in green? $10,000.

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Phil ********

Days, months, year.

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Phil ********

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Chris *********************

If you coming back take it out in bt or just leave it in your bank

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Christopher *************

I guess a lot would depend on what rate you got when you changed into THB and when you did it.

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Bryn ********

ORIGINAL POSTER

@Christopher ************

I think it’s probably best I don’t think too much about it. 555

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Bryn ********

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James ********

Yes for sure

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Lee ***********

If the exchange rate is good in Thailand, then that means its bad the other way, looks like the bat is slipping meaning good to bring money in.

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Bryn ********

ORIGINAL POSTER

@Lee **********

Time to use my US credit card rather than my Thai card then? :))

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Bryn ********

ORIGINAL POSTER

Hmm… So I may as well just spend the money I’ve got here? :((

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Brian ************

move money to Thailand then spend after converting

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Brian ************

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Brian ***********

Yes

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Brian ***********

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