Bangkok Bank has a branch in London, I've never had any probs with them... or Udon branch for that nice and easy for transferspanick wrote: the GF is going to help me sort out a Thai bank account this time so I can transfer funds like you say
Why is the baht still strong ? I just don't get it
You should bank with nationwide in the UK, they do not charge for international funds transfers or drawing money from overseas ATM's.
You also get the full exchange rate, i.e higher than the rate at the thai bank when exchanging cash.
As far as i know Nationwide are the only place that provide this service.
Kev
You also get the full exchange rate, i.e higher than the rate at the thai bank when exchanging cash.
As far as i know Nationwide are the only place that provide this service.
Kev
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i did,nt know this either. i have a nationwide but hardly use it, so there is No charge for standard or urgent money transfers oversea's to a Thai account, completely free ?kevh wrote:You should bank with nationwide in the UK, they do not charge for international funds transfers or drawing money from overseas ATM's.
You also get the full exchange rate, i.e higher than the rate at the thai bank when exchanging cash.
As far as i know Nationwide are the only place that provide this service.
Kev
been using my other bank for transfers for 17 years now cost's ฃ20-25 a go
i knew about the cash withdrawrals, but not transfers.
will check with my branch.
FXHistory: historical currency exchange rates
Conversion Table: USD to THB (Interbank rate)
Time period: 09/14/06 to 09/20/06.
Daily averages: 09/14/2006 37.4380
09/15/2006 37.3720
09/16/2006 37.30480
09/17/2006 37.32170
09/18/2006 37.32040
09/19/2006 37.34350
09/20/2006 37.41410
Average (7 days): 37.35921
High: 37.93000
Low: 37.02000
Looks like at one point it was scaring 38 but settled back down very quickly
Conversion Table: USD to THB (Interbank rate)
Time period: 09/14/06 to 09/20/06.
Daily averages: 09/14/2006 37.4380
09/15/2006 37.3720
09/16/2006 37.30480
09/17/2006 37.32170
09/18/2006 37.32040
09/19/2006 37.34350
09/20/2006 37.41410
Average (7 days): 37.35921
High: 37.93000
Low: 37.02000
Looks like at one point it was scaring 38 but settled back down very quickly
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Kev is correct, Nationwide give both a better exchange rate (they take a lower spread on currency than other UK banks) and do not make a transaction charge.kevh wrote:You should bank with nationwide in the UK, they do not charge for international funds transfers or drawing money from overseas ATM's.
You also get the full exchange rate, i.e higher than the rate at the thai bank when exchanging cash.
As far as i know Nationwide are the only place that provide this service.
Kev
You should note that from time to time you may find withdrawals on many ATM's are limited to 10,000 Baht.
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Thanks "j"PSM.
i always send sterling to thai bank and pay ฃ20+.
i must of misunderstood kevh about international fund transfers.
if a bank was doing it for free i am sure i would have heard about it long ago.
incidentley due to send a large lump next few days, an increase in rate (in my favour of course)would be good .
i always send sterling to thai bank and pay ฃ20+.
i must of misunderstood kevh about international fund transfers.
if a bank was doing it for free i am sure i would have heard about it long ago.
incidentley due to send a large lump next few days, an increase in rate (in my favour of course)would be good .
Well so much for hoping the baht would weaken because of the coup.After some knee jerk fluctuations,looks like it is settling back to last weeks levels.There probably is more confidence that there will be less turmoil without Thaksin,plus the USA didn't raise interest rates at this months Fed meeting!
Well not 56 to one that is for sure, but not as low as it wa either. My understanding of what happened in 97 happened over several months not one day. So I think we won't know for a bit.
FXHistory: historical currency exchange rates
Conversion Table: USD to THB (Interbank rate)
Time period: 09/15/06 to 09/21/06.
Daily averages: 09/15/2006 37.3720
09/16/2006 37.30480
09/17/2006 37.32170
09/18/2006 37.32040
09/19/2006 37.34350
09/20/2006 37.41410
09/21/2006 37.81220
Average (7 days): 37.41267
High: 37.93000
Low: 37.02000
FXHistory: historical currency exchange rates
Conversion Table: USD to THB (Interbank rate)
Time period: 09/15/06 to 09/21/06.
Daily averages: 09/15/2006 37.3720
09/16/2006 37.30480
09/17/2006 37.32170
09/18/2006 37.32040
09/19/2006 37.34350
09/20/2006 37.41410
09/21/2006 37.81220
Average (7 days): 37.41267
High: 37.93000
Low: 37.02000
ray23 wrote:Well not 56 to one that is for sure, but not as low as it wa either. My understanding of what happened in 97 happened over several months not one day. So I think we won't know for a bit.
FXHistory: historical currency exchange rates
Conversion Table: USD to THB (Interbank rate)
Time period: 09/15/06 to 09/21/06.
Daily averages: 09/15/2006 37.3720
09/16/2006 37.30480
09/17/2006 37.32170
09/18/2006 37.32040
09/19/2006 37.34350
09/20/2006 37.41410
09/21/2006 37.81220 Average (7 days): 37.41267
High: 37.93000
Low: 37.02000
Ray ,it is 37.61 right now.Don't get your hopes up because the baht doesn't seem to have any legs under it.There is no sustained fear in the market,just knee jerks initially when nobody really knew what was going on.Now the situation seems stable with the Kings support and the Baht is settling with less volatility in fluctuations.I was so hoping for a week of worry so the baht would go up a few bahts.Oh well
Another reason the baht stopped moving!arjay wrote:Fed keeps US rates on hold at 5.25% as expected.
http://news.bbc.co.uk/1/hi/business/5364576.stm
This is actually Dakodas information, sorry Dakoda good info so I hope you can forgive me for my larceny.
Thailand's Baht Rebounds as Coup May Break Political Deadlock
By Andrew J. Barden and Yumi Kuramitsu
Thailand's Baht Rebounds as Coup May Break Political Deadlock
By Andrew J. Barden and Yumi Kuramitsu
Put into Quotes by Mod TeamSept. 21 (Bloomberg) -- Thailand's baht rebounded from its biggest loss in three years on optimism this week's coup will break a political deadlock that has stalled government spending.
The currency rose the most in more than two months after the military took control without bloodshed and the interim government sanctioned by Thailand's individual pledged to hold elections in October 2007. The political standoff has held up the approval of 1.7 trillion baht ($45 billion) in spending on roads, bridges and power plants.
``This represents a buying opportunity as it removes the political roadblock from the economy,'' said Richard Yetsenga, a currency strategist at HSBC Holdings Plc in Hong Kong. ``The coup is as calm as you could possibly expect and has royal approval.''
The baht rose 0.7 percent to 37.51 per dollar at 9:14 a.m. in Bangkok, after yesterday dropping 1.4 percent, the biggest loss since October 2003. HSBC expects the currency to gain to 37 by year-end, Yetsenga said.
Thai shares resume trading today after banks, government offices and the stock market were ordered closed yesterday by coup leader Army Chief Sondhi Boonyarataklin.
an individual Adulyadej, in a royal order yesterday, confirmed Sondhi as the head of a new interim government after the armed forces ousted Prime Minister Thaksin Shinawatra.
Military leaders may appoint a non-military prime minister and draft a new constitution in two weeks, and may hold general elections in October 2007, Agence France-Presse reported yesterday, citing Sondhi. The coup was Thailand's 18th in the past 60 years.
Initial Panic
Share prices in Thailand may drop at first when trading resumes, said Hideki Hayashi, a currency strategist in Tokyo at Shinko Securities Co., a unit of Japan's second-largest lender.
``The coup means a rising risk premium for the emerging- markets stocks and investors may initially sell,'' Hayashi said. ``That will also weigh on the baht. Still, such selling will be short-lived and sentiment will turn around quite quickly.'' The baht may weaken to 38 in a day or two and then rebound to 37 in a week, he said.
Shares of mutual funds that invest in Thailand dropped in U.S. trading on Sept. 19. Thai Fund Inc. fell 3.8 percent to $8.65 after tumbling as much as 7.1 percent earlier.
In a written note yesterday, Mark Mobius, who oversees about $30 billion in emerging-market equities at Templeton Asset Management, said ``we remain of the view that the long-term outlook for Thailand is good.'' He said if stock prices drop, he would look to buy shares in banks, natural resource and real- estate companies.
Best-Case Scenario
Thailand's $188 billion economy is forecast to grow at the slowest pace in five years amid the election dispute.
``Thailand's political condition has been quite unstable recently and with the coup, there is a sign the situation will improve,'' said Minoru Shioiri, senior manager of the credit and foreign-exchange trading division in Tokyo at Mitsubishi UFJ Securities Co., a unit of Japan's biggest lender by assets. ``The condition seems to be very calm and may not lead to any panic selling.'' The baht may gain to around 37.20 in a few days, he said.
The military had to ``take control and rectify this situation to enable the country to quickly return to normal and to restore solidarity among the people,'' Sondhi said in a live television broadcast yesterday.
More Declines
``Is it an investment opportunity?'' speculated Gene Frieda, head of emerging-markets research at Royal Bank of Scotland Plc in an interview yesterday. ``At some stage it most definitely will be, but we're one day into it and the uncertainties are extreme. It is a pretty easy call at this stage to say Thailand sells off.''
Ian Beattie, who oversees more than $1 billion in Asian equities at New Star Asset Management Ltd. in London, said the coup is ``good news,'' as long as the next developments are peaceful.
``From a purely monetary point of view, it's good news,'' Beattie said. ``It's removed the sort of impasse that Thailand reached politically.''
To contact the reporter on this story: Andrew J. Barden at [email protected]
From Yahoo News:ray23 wrote:To be honest I wasn't really hoping for 56 to 1, I think that would be devistating to my neighbors, back to 41 this year would be just fine.
What I'm really curious about is someone going to get a good look at the real books and what they might say.
I'm with you Ray,but I am committed to transferring funds if the baht goes below 37!ECONOMY FEARS EASE
Fears for the Thai economy eased as calm prevailed and coup leaders set out the timetable for return to civilian rule, although Morgan Stanley cut its annual economic growth forecast for the second half of the year to 2.4 percent from 3.5 percent.
Thai stocks dropped some four percent on reopening on Thursday but soon recovered as foreign investors picked up what they considered cheap shares from retail investors not wanting to carry the risk.
The market was down around 1 percent, a far less precipitous drop than feared in the immediate aftermath of the coup, when credit ratings firms had warned of possible downgrades.
The markets received some reassurance from a royal proclamation legitimizing the military government. That was a "positive development," ABN AMRO Bank strategist Shahab Jalinoos said in a note to clients.
Moody's Investor Service reaffirmed Thailand's ratings and stable outlook on Thursday and the Thai baht was steady in early trade after shedding nearly two percent on Tuesday.
Yahoo article put into Quotes by Mod Team.