Answered5 years ago
What does the recent USD-Baht exchange rate hitting 34-1 mean for expats and visitors in Thailand?
Good news for Americans, for the first time since 2017, the USD-Baht hits 34-1
Answer summary
The USD-Baht exchange rate has reached 34-1 for the first time since 2017, which is good news for Americans and expats making transactions in USD. Comments within the community discuss the implications of this rate for both visitors and expats living in Thailand, highlighting the benefits for individuals holding USD, while also considering its impact on tourism and the overall Thai economy. Insights include speculation about the Thai Fed’s actions to stabilize the exchange rate and perspectives on how the changing rates affect economic conditions and individual financial decisions.
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Steve **********
Recall years ago when visiting was over 50.
When I moved here it was 45. Then in 40's for years.
When I moved here it was 45. Then in 40's for years.
David **********
@St***
For the first decade or so that we lived here in Thailand, you could always know that the exchange rate was 25 baht = one USA dollar. It never really changed at all since the Thai baht at that time was “tied to” the US dollar.Then came the financial collapse of the late 90’s. Thailand was forced to “cut loose” the Thai baht. That is when it went to more than 50 baht per one USA dollar.
That was a crazy time. Those of us who were receiving our income in USA dollars, suddenly were able to buy everything at half price!
Steve **********
@David *********
I just gave you the variation in baht to US. From 50 down to 28, now at 34.5.Never has 25 to US existed in my 20 years.
Where do you live ?
I got here before the 1000 baht note only the Purple Passion ( 500 baht note )
Good old days.
David **********
@St***
I have lived here in Thailand since Jan. 1986. Just over 36 years here now.(I hope you don't think I was criticizing or correcting or trying to refute your post. Just sharing my experience.)
Have a great day!!
John ********
It's going to go back down soon when Trump buys the presidency.
Paul *********
@John *******
let's hope he does and get rid of the corrupt Biden and his pathetic lying cheating government
AliJames *****
Good news also for expats who are paid in USD!!!! No matter what country they come from
@Garrett **********
Garrett ***********
OP@James ****
My baaaad
Bruce *********
But where in Bangkok can you actually get that rate?
Maxim ***********
@Bruce ********
Obv exchange rate sellers need to make money so you never get the exact rate. But a lot of places in BKK will give you 0.***
% from the xe number.
Patrick *******
Wise.com works well. Hooks straight up to your Thai bank.
Chut ******
@Bruce ********
Superrich plus 0.2 baht
Otis ******
@Yoyo *******
TMB
Nick *********
With the rate of inflation in America right now this makes no sense
Chut ******
@Nick ********
i do not like US but I think US is transaparent in statistics. for EU, i doubt in Greece,Italy,SpainNick *********
@Yoyo *******
don't worry we don't like you either
Jimmy ******
This is normal. In times of high risk, money flows back to the safest currency ie the dollar. Most people in the world trust the dollar more than they trust their own currencies. Hence usd going up and will most likely keep going up as the fed increases rates
Christopher *******
@Jimmy *****
the dollar"s place as the global reserve currency is coming to an end slowly but surelyNick *********
@Christopher ******
the reason that won't happen is because of our military and all the agreements made at the end of WW2 to give us economic control over the world .Christopher *******
Nick Edwards nothing lasts forever
John *****
@Christopher ******
That will only happen when there's a currency that's strong and trusted enough to replace it. That currency does not currently exist and there aren't really any prospects.John *****
@Christopher ******
People have been saying that the US is in decline since the beginning of the US.It very well could be, but there isn't enough evidence to definitely say that.
In any event, there is no currency (including any cryptocurrency) that is close to competing with the dollar and you have provided no evidence to the contrary.
Therefore, your argument is based in fantasy at worst and wishful thinking at best.
Christopher *******
@John *****
if you are denying this is going to happen you are in lalala land. The US is an empire in decline and everyone aught to see it by nowChristopher *******
@John *****
it won't happen until the Petro dollar is a thing of the past and the US dollar collapsesJohn *****
@Christopher ******
I've made quite a bit of money off crypto and I'm still invested in different currencies, but if you think any of them are even remotely trusted and secure enough to even be in serious contention of competing with USD as the reserve currency, then you're in lala land.Christopher *******
@John *****
maybe no fiat currencies there are plenty of good cryptocurrencies
Terary **********
Another way to phrase that.. The dollar is rebounding to pre-trump levels.
Jeff ************
@Terary *********
what planet are you from? The dollar is worth less than ever before and continues to do so.Maxim ***********
@Jeff ***********
Huh? Its the highest level atm since 2017, the last 10 years peak was 2015 around 36.5.
Ashley ********
In other news pound at 2 year low
David **********
Unless you have a bunch of Thai baht that you want to change back into USA $$. :-(
Garrett ***********
OP@David *********
The otherway does hurt :(
Bagwell *******
Thanks Biden
Gabe ********
And just in time cause I got 2 weeks left lol I spent over a million baht on this trip though. 6 months
Garrett ***********
OP@Gabe *******
Yeah, I mean really the average over the last 6 months has been low 33s, maybe 33.3 So at 1m baht (roughly $30k usd) you would have had an extra ~17k baht. It's something, but if you're blowing 1m baht in 6 months that probably a night out you lost on the exchange rate.
Han ********
Only good news for Americans who have a lot of USD. (Or other people with assets in that currency.) If you make money in Thailand it's quite the opposite.
Maxim ***********
@Han *******
Google pay me in USD every month so for me its great news, haha!
Alan *******
@Han *******
Only if you buy a lot of imported things from America. Probably won’t negatively affect the vast majority of people in Thailand.It also makes tourism a little more affordable, a sector that’s been beaten down and can use all the help it can get.
Also make Thai exports less expensive.
Overall it’s a net gain.
Chut ******
many Thai have no money to pays anything so THB will be appreciate from poor not from good economics condition
Garrett ***********
OP@Yo**
What?Chut ******
@Garrett **********
sorry ,i mean that Tourism company and pub employee more poor (someone is zero income for 2years)around 5 million people.Chut ******
@Garrett **********
low expenditure so low import so low supply of THB
Dominique **********************
@Garrett **********
they will not feel so lonely 😭 now , with your assessment!Garrett ***********
OP@Yoyo *******
"many Thai have no money to pays anything"You know there's poor people in every country though right?
Delvonte ********
Shid when I come if it's at 34 Im pulling out the whole bank. I don't trust Biden .🤣🤣🤣🤣
Joseph ****************
@Delvonte *******
yes, put your trust in Prayuth Chan-ocha. Sound planning!
Jennifer ********
Nice! I remember when it went up to 50 way back when
Prieto ****
the dollar is going bananas against all other currencies
Thomas *************
I follow the USD/THB exchange rates for a few years. Thai Fed allows free float in the 33-34 range but aggressively sells USD once it touches the upper limit. I anticipate Thai Fed stepping in soon to pull USD toward 33 in the coming days. Unless there is a fundamental weakness in Thai economy/politics the Thai reserve will be able to control the rate in
*****
rangeThomas *************
The recent softening in Chinese economy is a major headwinds for THB. It may take longer this time, but along with increasing tourist arrivals and Chinese markets calming down THB will eventually recover.
Maxim ***********
@Thomas ************
Thai government got loaned way too much by the banks, I dont think the baht will do what you are predicting. I think we are heading to 35 within a month or two.
Ruth *******
@Thomas ************
lol. The dollar is at its strongest since May 2020 (including having its strongest jump in 5 years this week), but you have to post that you don’t trust Biden, who has been president during its strengthening. Yeah, ok…whatever. You know…you could have just left politics out instead of making such a ridiculous comment in this context.
Bim *******
@Thomas ************
I agree. The gold and cash reserves alone in Thailand this last two years are at historical highs so they have the means to keep the currency propped up.Joseph ****************
@Thomas ************
“unless there is a fundamental weakness in Thai economy/politics”.Garrett ***********
OP@Thomas ************
We shall see
Gee ******
Oh cool 😎
Carlos *********
Keep going!!
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