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BTSskytrain
Joined: 21 Oct 2007
Posts: 45
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 Posted: Fri Jan 11, 2008 1:58 pm Post subject: US dollar continues to.... |
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| plummet big time. XE currency converter showed $1.00 exchanging for 29.50 baht. i know on the streets of BKK the rate is about 32 baht to the dollar but this is still getting way out of hand. hard to believe that the exchange rate has dropped by over 25 % in the last 2 years. |
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Kent F. Kruhoeffer
Joined: 22 Jan 2003
Posts: 2129
Location: 中国
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| Posted: Sat Jan 12, 2008 2:31 am Post subject: |
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| It cuts both ways actually. Of course it's a major disaster for anyone bringing dollars into the country and for people receiving money from the States in the form of retirement pensions, etc. On the other hand, it's GREAT for anyone who happens to be saving, i.e. changing their baht into dollars, to take out of the country or pay off debts, etc. |
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tedkarma
Joined: 17 May 2004
Posts: 1598
Location: The World is my Oyster
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| Posted: Sat Jan 12, 2008 3:08 am Post subject: |
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Kent, as always, is right. It cuts both ways. I have some income in baht - whew hooooo - doing very well thank you. But, I also have some investments back in the USofA in US$.  |
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No Moss
Joined: 15 Apr 2003
Posts: 1995
Location: Thailand
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| Posted: Sat Jan 12, 2008 10:21 am Post subject: Re: US dollar continues to.... |
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| BTSskytrain wrote: |
| plummet big time. XE currency converter showed $1.00 exchanging for 29.50 baht. i know on the streets of BKK the rate is about 32 baht to the dollar but this is still getting way out of hand. hard to believe that the exchange rate has dropped by over 25 % in the last 2 years. |
The lower rate (29.50) is the offshore rate. The onshore (inside Thailand) rate is about 3 baht higher, well, I mean, 3 baht more to the dollar.
I'm planning my retirement in Thailand as I write, so I guess I'll have to work more than I had planned. Oh well, it keeps me busy and out of trouble.
The dollar has had a rough time of it this year against every currency. Look for more of a dip when they lower the Fed rates this month, but it's possible the dollar will be up by the end of the year, or at least when they start raising rates again.
Does anyone know if you can have direct deposit for a social security check in Thailand?  Yeah, I'm that old. |
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Kent F. Kruhoeffer
Joined: 22 Jan 2003
Posts: 2129
Location: 中国
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| Posted: Sat Jan 12, 2008 11:33 am Post subject: |
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Hi guys
Banks were buying dollars for 32.8 today.
re: direct deposit - I don't have a bank account.
I just never seem to have enough money to need one,
I hope somebody else can help you with that one, No Moss.
I've adopted the true spirit of Buddhism, and given up my lust for material gain.  |
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tedkarma
Joined: 17 May 2004
Posts: 1598
Location: The World is my Oyster
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| Posted: Sat Jan 12, 2008 9:19 pm Post subject: Re: US dollar continues to.... |
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| No Moss wrote: |
| Does anyone know if you can have direct deposit for a social security check in Thailand? Yeah, I'm that old. |
I don't know but it is easy enough to have your funds wired here. My credit union back in Arizona sends me funds three times a year. It costs $35 each time, but my total expense in a year is about $105 - not a huge bill for the convenience. |
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