Why is the Thai Baht strengthening against the GBP and how can I optimize my currency exchange for a visit to Thailand?

@Pete *********

they were i bet !

@Steven *********

should of change more when it was 46

@Tin *********

yea I know

@Steven *********

live n learn

@Tin *********

yes I do I go 2 times a year will be ending there soon another 72 days to go

@Steven *********

2nd time this year goin nov

@Tin *********

I go December much better than November

@Steven *********

back in march hkg may try dec nxt yr

@Tin *********

may is good very hot what part of Thailand you go ? December is amazing for Xmas and new year best times to go there but more expensive for flight that only problem

@Lester ********

anyone can prove better, I’m all ears. It’s an ever changing game. But at the moment (and for past several years) Wise is dominating.

@Todd ********

Super Rich today is offering 43.5 to GBP and wise is offering 43.1 after fees. I understand that wise is the most convenient if you have a Thai bank account but occasionally cash is King. The problem is I don’t think I’m allowed to bring 500k into Thailand in cash. Change it at a kiosk and then put it in the bank 😂😂😂

@Lester ********

this is mid market rate now. SuperRich is now paying over mid market? (ie losing money)

@Lester ********

- yes I think everything is made complicated...you will find many farangs say that they don't want us here...kinda thinking there may be some truth to that...the hoops for the visa seem to get bigger and bigger 🙄

@Tony ********

I can understand to a certain extent. Look what happens to other countries economies when too many foreigners emigrate.

@Lester ********

- ummm yeah I guess... Thailand lets in too many low life's I've seen quite a few in Pattaya 🙄

They should concentrate on weeding out those kind of expats.

@Chris ********************

- thanks but I live in Thailand I'm not arriving for a 2 week holiday. I transfer using Wise

@Tony ********

yes I also live in Thailand, when I go back to UK and come back with cash that's where I go.

Just saying.

@Tony ********

I’m moving to Thailand this month. I take it you transfer in using wise and then withdraw cash from your Thai bank account? Is there a limit to the amount of cash you can pay in directly to the account. It’s just that Super Rich is offering 43.5 on. GBP against wise of 43.1 after fees. That’s based on rates at the time I’m posting.

@Lester ********

- welcome to Thailand 🇹🇭

Where are you moving to?

With regards to the receiving banks it's best to check out their websites. Most transfer monthly amounts but I did have to transfer the 800k but I think I may have done it over a few transactions I can't remember. If I doubt check the bank you are transferring to. I assume you have an account in Thailand? If not it's a real work up. Luckily I now have 2 one with Bangkok Bank and one with SCB.

I transfer from £ to Thai baht using Wise and then move that to my Bangkok Bank account. Once it's there it's easiest to either pay in cash or 'scan'...this is where the vendor produces their scan bar or QR code and you simply use the apps scan feature. I would say I probably do but anything larger it's always scan.

The Thais are very clued up in modern technology and especially payment systems they do way more than I do... I just keep it simple. It did take a short time to get used to what I was having to do because in the UK it was all with the plastic but here it's all about your phone 555.

I am not familiar with Super Rich is it an app? Yes Wise have steadily been increasing fees for a while so I'm on the lookout for a cheaper alternative.

One thing to note which is very important. Wise transfers show up as International and it's very important for the visa renewal if you are doing it bases on 65k per month or 40k per month if married to a Thai.

Oh I forgot to mention when withdrawing cash always use the apps cardless feature to avoid charges in you are out of the district that you opened your bank at. There are some weird things banks do here and that's one of them 🙄

Don't use exchange booths in the upper floors ,rip off,

@Lester ********

- maybe but most expats use a company like Wise that give the true market rate. It's not normally bettered.

@Tony ********

. Wise does have built in fees but they are small. I use both. Certain places in Thailand cash is still King

@Michael ******

i have yet to meet anyone changing plans to go somewhere shittier because they are down 10% on the exchange rate

@Tai *********

And so he goes like the Titanic to the iceberg

@Harry ********

i’m sorry you lost money investing here in Thailand.

@Tai *********

I didn’t !! I would never invest here . But you will

@Harry ********

hahah I knew it you have never done anything hence why you say it’s bad. You probably living in some rural village in Isaan. Try looking up how the real estate market boomed in koh Phangan last few years, bought land before Covid which is now worth 5 times as much. Let’s speak again when you invest and make your own experiences instead of shouting how bad it is cause you’ve read it somewhere. Good luck on your ventures buddy

@Tai *********

pathetic . I wouldn’t go near any rural area . Property is only worth what you can actually sell it for not what you think . Invest in Thailand .. ha let’s see how that works out

@Harry ********

like I said I sold for 5 times the price I bought it for, cope harder buddy.

@Tai *********

no you said it’s WORTH 5 times the price you paid . I can say my watch is worth 100 times what I paid but until you sell it ( which you never will at a profit ) you haven’t made anything

@Harry ********

like I said cope harder, I sold a piece of my plot for the cost price of what I payed all for it and now have free land. sorry you didn’t buy at the right time in the right place in Thailand , just do some research and you’ll see koh Phangan is booming and only growing everyday. Same as Samui/phuket and most islands. Only this year 1 rai went up from 3. million to now .5 million. You’re just a bitter old man who didn’t have the capital or balls to do anything to improve his life.

@Tai *********

you can’t own land in thailand . And you live in the middle of nowhere . Sounds lovely

@Harry ********

you can make money flipping real estate even though you don’t technically own it. Enjoy living off of your miserable pension the rest of your days 🤣

@Tai *********

and you enjoy your life in the jungle in the middle of nowhere off the dirt track . Cos that sounds like what you got .

@Harry ********

yeah that’s why property prices are skyrocketing because there’s no demand and nobody living here 🤣 cope harder. Sounds like you have no clue but that was clear from the start of this very entertaining conversation.

@Tai *********

you sound like an agent desperate for people to invest in property . They are all over Thailand .

I’ll go back to my luxury life living in Bangkok thank you 🙏

@Harry ********

you mean go back to your soi cowboy nights out. Sure bud enjoy 💪🏽

@Tai *********

never been near the place . But I understand your panic , it must be stressful being a property agent in Thailand , I can make allowances for you . All that VAST oversupply and you have to try to persuade others to buy it . Poor you . End of conversation .. very entertaining

@Harry ********

a simple google and Airbnb search will show you what you need to know about the demand there is and why short term rental prices are so high, (big) demand and (little) supply, I know it’s sad that you don’t know that fundamental concept used in business. Bangkok and its vast amount of condos will make it a terrible investment I agree, enjoy Bangkok and stay poor……👋

@Tai *********

im far from poor . And I don’t live in the middle of a wasteland like you are trying to convince people to buy . Because you’re an agent . It’s your job so good luck with that

@Harry ********

I’m not trying to convince anyone to do anything and no I’m not an agent I build for myself and my business. I’m just having a conversation with you and you are pointing out to people how ignorant you are. Real estate is not for no reason a huge asset class and used for wealth creation. I call 🧢 on your I’m far from poor as you’re probably an expat who’s barely surviving off his pension in Thailand…..👋

@Tai *********

this is my last post . I agree with you , real estate ( a horrible American way to describe property investment but so be it ) IS a fantastic investment . If in a safe country without the massive huge oversupply we see in Thailand . I myself have many in Europe , I agree with you fantastic returns but not in Thailand .

I appreciate you are a builder and so need to pump up the market to find buyers . Like I said .. good luck . And believe me I’m neither poor nor just surviving on my pension . I have a great lifestyle funded by property abroad and never ever in oversupplied Thailand

@Harry ********

I don’t care about Thailand, like I said Bangkok is a terrible investment which you are mostly referring to. Koh phangan on the other hand is 40% national park and almost unique in the gulf islands. Do some research why that is important in real estate…hint: when demand goes up but supply can’t more than a certain point….what happens? Yes I’m sure you understand. Have a good day 👋

@Bradley ********

Yessir

@Tony *********

I'm American.

@Michael **********

We cant all be perfect .lol

@Tony *********

Ireland is perfect? Far from it.

@Michael **********

It was a joke .Note the lol ( laugh out loud )

@Tony *********

*loud but got it

@Markie *****

it is truly and still strong against most currencies but now crashing against the baht

@Jo *********

yes but not much. I get paid in AUD and Sterling you are still better off

@Harry ********

back then there were 70+ baht to the pound. I suppose you blame Brexit for that too?

@Nick ***********

not at all . But Brexit did destroy the pound

@Harry ********

so how do you explain how other European countries have a weaker economy than the UK?

@Nick ***********

what relevance has that got or not got to the fact that , long term , the GBP is very weak against the US dollar , the Swiss franc , the euro and the Thai Baht just to quote 4 ?

Historically apart from a brief period around and since the currency destroying event of Brexit , the pound has never been weaker than it is now . Since the depths of 2019 and sept 2022 it has dragged itself off the floor and gone up a tiny bit and everybody is saying what a great rate the pound is and how strong it is . But long term that’s just not true . Get the graphs up they don’t lie , look at the pound v dollar and euro for the last 25 years and what do you see ? You think pound dollar at 1.34 and pound euro at 1.19 is great ? It’s awful just not quite as awful as it was that’s all I’m saying

@Harry ********

and, of course, you have forgotten all about covid and the effect that had. The UK has recovered better from being out of the EU than it would have done still a member. And of course what I said earlier is absolutely true and relevant. Brexit was the best thing that happened to the UK. Subsequent , self serving, lying, hypocritical and anti British governments have been the worst.

@Nick ***********

Brexiteers like you always ignore the destruction of our national currency , a price worth paying just to keep out a few foreigners from coming in ? Never mind our currency was and still is destroyed .

Covid … what only the UK get it did they ? USA not get it covid , the world not get it ? yet the GBP V USD rate hardly been lower in the whole of history . But don’t let facts get in the way of it

@Harry ********

to end this argument simply the main reason for most of what is going wrong in the UK right now is not because of Brexit. It is not because of covid. It is because of years of people running the country who are anti British and rotten to the core or have you not noticed the hypocrisy and corruption? And before you ask, I do support the Reform Party under Nigel Farage. He is the only hope left.

In addition, remainers like you will continue to thwart any hope of the good that should be coming from it in every way you can because you are so bitter.

@Nick ***********

I agree with much of what you say . I do . But you can’t deny Brexit destroyed the pound and for that I can’t forget what your crowd did

@Harry ********

Also do you think $1 in 1949 was of the same value as the $1 in 1967 ? The value doesn't stay the same either

@Harry ********

The USA is as old as my grandma , massive growth economy wise, that is all you are looking at with your data.

@Harry ********

They do when used incorrectly 👍 What is stronger , the £ or the $ ? 😆

@Harry ********

I agree but there is many reasons why that's happened it's just a coincidence that the UK left the EU and with deliberate interference from France, Germany and many other countries who were angry at the UK for leaving the EU

@Brian *******

don't forget the British government who have done little to capitalise on the benefits Brexit has to offer. They hate the people for voting to leave and now we are paying for it.

@Nick ***********

yes the 51 per cent who actually voted. Anyway it's 8 years ago so you Brits should move on

@Markie *****

I completely agree with you. It was a democratic vote to leave but anything and everything has been done by those in power to stop it happening so it will never move on until they are gone.

@Nick ***********

not sure if anyone stopping it as Cameron could of as it was non binding. Its over trouble is the poms either will not talk about and blame everyone instead of getting on with it. It's embarrassing

@Markie *****

You talk about Poms as though you mean everyone in the UK. Lots of ordinary working people have got on with it while many others have been burdened by the beauracracy surrounding every governments attempt to stay as close to the EU as possible. Then there are the others who beleive that it is Europe to blame when, in reality, the UK will always be part of Eurooe. Tge UK population is sick to the stomach if being lied to time and time again, for one side to call out the TIGER for exactly what they also do once they get voted in. No one wanted a labour government but there was no alternative. It has turned out even worse than even I could have imagined, The boats could be stopped overnight but too many people and entities are making huge amounts of money to do anything about it. Personaly I beleive that UK politicians have relied so heavily on the EU to tell them what to do that they are completely incapable of any move in the right direction. Now, they have no one to blame, as it goes tits up, but themselves.

@Matthew *******

nonsense . Look before Brexit 2016 not decades

@Harry ********

25yrs ago ( before Briexit) the pound was 1.15 to the euro. Now it’s about 1.19.

When we FINALLY achieve complete Brexit it should strengthen even more.

@Eddy *******

we? Do you live in UK or Thailand?

@Eddy *******

nonsense see photo below

@Matthew *******

Harry is the truth teller

Harry Chapmanit suits the elite, cheap imports, cheap trips abroad

@Don **********

the reason for price increases. Israel is not going to let Iran continue to fire rockets into their country. This will affect the price of oil, as their oil facilities are soft targets.

@Don **********

high Baht means petrol imports priced in US dollar cost less baht and if petrol prices are affected they will be lower.

@Iain ********

read the room “motorists might be heading towards higher petrol and diesel prices when they fill up the tank in a couple of weeks as oil prices surged amid rising tensions in the Middle East, a situation that could lead to the cost of everyday goods jumping.

@Don **********

which would be nothing to do with the value of the baht against other currencies.

And despite today's surge in $ per barrel for crude the international prices for crude today are still lower than 1 month, 3 months or a year ago.

@Don **********

I don´t get it: Imported fuel must be cheaper when Baht strengthens?

@Erik **********

yes got that the wrong way round, it’s exports that suffer from a strong baht but watching the latest news in the Middle East I can see the price of a barrel is likely to add “fuel” to the situation. :)

@Don **********

Saudi and US both producing MORE oil as of yesterday and the US price per barrel of crude on World Market has been heading downwards not up despite Rus/Ukraine conflict and the Israel/Palestine tiff.

@Von *****

meaning? :-)

@Bradley ********

i think your right

@Bradley ********

nice insight, thank you!