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What's your baht worth? Exchange rates on the street...


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It's the usual Fx quandary. Do you transfer the money now in case something goes tits-up next week, or do you wait until after the election, as a clear Conservative win should boost the pound to well above 40 Baht?

I'm playing safe and secure and just sent £1500 to Thailand via TW.

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12 minutes ago, Toy Boy said:

It's the usual Fx quandary. Do you transfer the money now in case something goes tits-up next week, or do you wait until after the election, as a clear Conservative win should boost the pound to well above 40 Baht?

I'm playing safe and secure and just sent £1500 to Thailand via TW.

I've got the same dilemma! 

I was going to wait until late afternoon thai time and hope its hit 40 by then...

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What's weird was that when I transferred a grand with TW two weeks ago it arrived before I could log out of my UK online banking account, literally less than two minutes.

Today, I got an e-mail money received by TW, thank you very much, we'll send your money in three days time, and since I did the transfer two hours ago and it still hasn't arrived here with the weekend approaching I suspect they really do mean "three days time".

I wonder why the difference?

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5 minutes ago, Toy Boy said:

What's weird was that when I transferred a grand with TW two weeks ago it arrived before I could log out of my UK online banking account, literally less than two minutes.

Today, I got an e-mail money received by TW, thank you very much, we'll send your money in three days time, and since I did the transfer two hours ago and it still hasn't arrived here with the weekend approaching I suspect they really do mean "three days time".

I wonder why the difference?

Reading reports elewhere send Monday through Thursday its virtually instant (also my experience twice this week) but send on Friday through Sunday and its slower

Rate is locked anyway so unless an emergency doesnt make a lot of difference

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Please correct me if I've got this wrong but I believe companies like TW don't actually transfer money. They match people who want to transfer from X to Y currencies with people who want to transfer from Y to X.

So I'm guessing that, if your money arrived in your Thai account immediately, it was because TW already had a queue of people wanting to transfer from THB into GBP.

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16 hours ago, Bazle said:

Please correct me if I've got this wrong but I believe companies like TW don't actually transfer money. They match people who want to transfer from X to Y currencies with people who want to transfer from Y to X.

So I'm guessing that, if your money arrived in your Thai account immediately, it was because TW already had a queue of people wanting to transfer from THB into GBP.

That's pretty much what I read about how it works, too. The trouble is that it's much easier to transfer foreign currency into Thailand than it is to transfer Thai Baht out (and the bozos wonder why the Baht is so overvalued!). So who exactly is transferring so many Baht out of Thailand to cover our GBP/USD/EUR transfers into the country? I read that TW won't transfer THB into a foreign bank account, if that's true then how do they get the necessary THB?

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2 hours ago, Toy Boy said:

That's pretty much what I read about how it works, too. The trouble is that it's much easier to transfer foreign currency into Thailand than it is to transfer Thai Baht out (and the bozos wonder why the Baht is so overvalued!). So who exactly is transferring so many Baht out of Thailand to cover our GBP/USD/EUR transfers into the country? I read that TW won't transfer THB into a foreign bank account, if that's true then how do they get the necessary THB?

I had heard more than a few times what @Bazle has said earlier. Am not sure but I'm inclined to believe they are just straight forward transfers done electronically (as we do bank to bank at home instantly) and the days of banks/institutions sitting on cash for days are long gone

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3 minutes ago, Thai Spice said:

My son is arriving in BKK next Friday, can somebody remind me the best money exchange at Swampy ?

Super Rich at basement level (Airport train level) ?

 

Yes that's still the one, but massive queue last time.. 

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1 hour ago, KhunDon said:

I never believe in polls. We’ll know for sure in the early hours of Friday morning, after most of the votes will have been counted. 
I can wait. 🤔

Johnson has suffered catastrophic savage damage this last 72 hours culminating this morning at 07.30am live on GMB in the uk with his press secretary telling ITV reporter to simply fook off.

Not surprising its gone viral. If this election was in 1 week time as opposed to 1 day Corbyn would be in power

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43 minutes ago, RR007 said:

Johnson has suffered catastrophic savage damage this last 72 hours culminating this morning at 07.30am live on GMB in the uk with his press secretary telling ITV reporter to simply fook off.

Not surprising its gone viral. If this election was in 1 week time as opposed to 1 day Corbyn would be in power

That's your opinion.

Myself and John Ashworth think differently. 

Anyway, there is a Brexit thread already going, I'll say no more on this, except I expect/hope the £ to be around 43/44 by the time I arrive on 1st January. 

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29 minutes ago, Krapow said:

That's your opinion.

Myself and John Ashworth think differently. 

Anyway, there is a Brexit thread already going, I'll say no more on this, except I expect/hope the £ to be around 43/44 by the time I arrive on 1st January. 

lol we'd need Sterling to rise to $1.45 assuming Baht/Dollar stable to get to 44 to the £..... Lot of the recent 10 cent rise is priced into a Tory majority. Might see $1.33/34 Friday/Monday but doubt much higher

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