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Joined: 30 Jan 2008
Posts: 5901
Points: 15556
Location: London
Considering the root of much of the World's current monetary woes were sourced from the USA, the Americans are doing rather well when it comes to THB exchange rates...
Joined: 25 Nov 2005
Posts: 1593
Points: 3809
Location: Pattaya
No justice - just more manipulation by the speculators. Unless there is volatility they do not make money so they like rates to move like a 'whore's drawers'.
Check out the price of Oil - 6 weeks ago there was a world crisis as it hit 150. Now it is 90. Spokesmen explained it by saying that there had been a fall in demand - what a load of %^$#@& Speculators made it rise and speculators made it fall.
I can assure you the extra 4 BHT to the Dollar I'm getting this year doesn't quite feel like I'm coming out ahead as my retirement account and investments got annihilated, friends are losing jobs, and hearing the heartbreak in my parents voices as their retirement savings were cut by over a third.
But if it's any solace, I'll probably be living out of a cardboard box in six months. And I had nothing to do with this sub-prime mess. There are plenty of Americans that lived within our means who are looking for Justice as well.
Joined: 25 Nov 2005
Posts: 1593
Points: 3809
Location: Pattaya
Hoot I empathize with the population of America. Perhaps it is time for that population to challenge the faceless men of Wall St - they grew fat on their speculation.
I even read that execs will still receive a bonus for their inept management. For malpractice a Doctor or a Lawyer would be dismissed from their profession or sued by their customers.
Bankers and investment brokers get departure bonus!
Any company run correctly makes accounting provision to recognize risk on any debt. Why had these companies not been frugal? So they could announce greater profits - just a spiral waiting to happen.
Poor management - the execs should be indited.......
Joined: 10 Mar 2007
Posts: 2325
Points: 1467
Location: Coventry
The Kiwi Dollar is at its lowest for five years . The current exchange rate gives me 19.93 baht for a Dollar , last trip it was 25 . I hope it picks up in a few weeks.
Good job I saved some US dollars from my trip to the Phillipines.
Rossco - It's been a rough week...had to let out some of the frustration. But I couldn't agree more, it is criminal that we allowed this to happen, and that those who knowingly profited from these practices get away with bonuses and huge paydays and leave the rest of us too foot the bill. Only time will tell if they see justice...I hope so.
On a happier note and in the spirit of the thread - I will have the opportunity to spend my ill gotten 4 extra Baht when I arrive in LOS in ~6 weeks. I need to spread my new found wealth around...
Joined: 09 Mar 2005
Posts: 3185
Points: 13554
Location: australia
As i see it the U.S. economy is Going bad and the Australian economy, although not as strong as previous is still in good health....Yet the US$ against the Baht remains stable, while the A$ has gone from 32 (when i there in july/august) to 22 now....I'm pretty unversed in finance matters (other than the racetrack)....but i just can't understand this....My last holiday i spent $7000... at todays rate would have cost me over $10000 Not so Cheery Donnykey
Joined: 14 Mar 2005
Posts: 1469
Points: 945
Location: UK
steviep35 wrote:
im trying to work out, would i benifit buy buying dollers for my pound then changing dollers to bhat ?
im shit at this stuff but i know the pound - baht is shit at mo the lowest ive ever seen it
steviep
Lets put it this way...
a 2,000 baht's evenings entertainment cost about 28 quid at the beginning of the year... that same night now costs 35 quid.
(for the non-Brits.... quid is pounds sterling slang)
It's still a good deal in respect of 200 quid if you were in london.
However - please get back to the 70 THB to the pound rate ASAP !!!
i usually take travellers cheques in denominations of £100 sterling because you get a better rate when you change them instead of cash.
In the present climate, because my bank does not charge for travellers cheques would i get more THB for USD travellers cheques.
Any info greatly apprecitated.
Joined: 17 Jul 2008
Posts: 6847
Location: Land of Sand
When the exchange rate is definetely in our favour I generally take some advantage by having currency available, for example, I took 3k sterling with me in '97, my normal amount not realising the previous rate of 36 Baht = 1£ had risen to 95 Baht , WoW, this paid for my next trip and then some!
Joined: 05 Aug 2006
Posts: 258
Points: 911
Location: Norway
THB has a strong link to the US$.
So when the $ is strong, the THB is too.
So it would not help you much to change to US$ before you go to LOS.
You'll probably lose most of what you gain in the currency exchange prosess.
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I can assure you the extra 4 BHT to the Dollar I'm getting this year doesn't quite feel like I'm coming out ahead as my retirement account and investments got annihilated, friends are losing jobs, and hearing the heartbreak in my parents voices as their retirement savings were cut by over a third.
I need to spread my new found wealth around... 
Not so Cheery Donnykey
When the exchange rate is definetely in our favour I generally take some advantage by having currency available, for example, I took 3k sterling with me in '97, my normal amount not realising the previous rate of 36 Baht = 1£ had risen to 95 Baht , WoW, this paid for my next trip and then some!
