Faustian Posted January 31, 2009 Report Share Posted January 31, 2009 Yep, that's the one. I presume it is accurate? Link to comment Share on other sites More sharing options...
Sporty Posted January 31, 2009 Report Share Posted January 31, 2009 It is not an actual rate, in Thailand. It says, on the site: "Notice: The THB rate shown below is the international rate. Rates used within Thailand may vary." The government is playing around a bit. Better to use, a bank site, for the real exchange. GBP United Kingdom 48.91 http://www.bangkokbank.com/Bangkok+Bank/Personal+Banking/Foreign+Exchange/FX+Rates/default.htm Link to comment Share on other sites More sharing options...
cheekyboy Posted January 31, 2009 Report Share Posted January 31, 2009 hedge funds have been selling it short and the BOE is expected to hit back and hammer them any day soon ,so i read Link to comment Share on other sites More sharing options...
unit731 Posted January 31, 2009 Report Share Posted January 31, 2009 I guess I'll go back to shopping in Canada again. US Dollar to Canadian Dollar (/CADUSD) /CADUSD quote (delayed at least 60 minutes)1.22911 +0.00331 +0.27% Previous Close 1.22580 Bid 1.22820 Open 1.22570 Ask 1.22920 Day's High 1.24110 Day's Low 1.22200 /CADUSD One Year Chart5d 1m 3m 1y 3y 5y 10y Link to comment Share on other sites More sharing options...
WorldFun Posted February 1, 2009 Report Share Posted February 1, 2009 those are 'interbank' rates which no consumer will never get due to the banks & traders spread which is their bread & butter on forex but many banks TT/electronic transfers can be pretty close to those while ATM & cash rates in LOS will be those advertised by Thai banks typically 1-2% less than interbank so yeah that explains the 2-3bt differences quoted - cash rate, TT rate or interbank - which one is more accurate? I'll tend to say the TT is - probably as a best bet mean rate Link to comment Share on other sites More sharing options...
Faustian Posted February 2, 2009 Report Share Posted February 2, 2009 Agreed, I've found on transfers from the UK I always seem to get a high rate. Using my online source it says 50 Baht to 1 pound today, a loss of 2 Baht since friday...and the week has only just begun. Fark. It's odd as the economic news coming out of Thailand today is dire. Link to comment Share on other sites More sharing options...
WorldFun Posted February 2, 2009 Report Share Posted February 2, 2009 probably due to extreme snowfall today indicating the start of the end of England as we knew it Link to comment Share on other sites More sharing options...
Sporty Posted February 2, 2009 Report Share Posted February 2, 2009 those are 'interbank' rates which no consumer will never get due to the banks & traders spread which is their bread & butter on forex but many banks TT/electronic transfers can be pretty close to those while ATM & cash rates in LOS will be those advertised by Thai banks typically 1-2% less than interbank so yeah that explains the 2-3bt differences quoted - cash rate, TT rate or interbank - which one is more accurate? I'll tend to say the TT is - probably as a best bet mean rate Your Interbank, Telex Transfer (TT Theory), comes closes to reality at the moment, but it is not what going on. Interbank, would be only in the case of a foreign branch of the Bank of Thailand, for funds On Deposits (OD), or Sight Drafts (SD). This is generally used, by big business, or with banks, with pre existing relations only, Letters of Credit, in place for example. Only the big players, or business, get a chance at this exchange rate. Hmmm, a little bit confusing, for sureâ?¦. Bank of Thailand, is what I call diddling with the foreign exchange rates. For political reasons, and to keep the economy stable and prevent speculators. They are not allowing the International or Internal rate, to float, freely in the world exchange markets. This is called Sanitizing, the exchange rates. They have pegged, the baht to their selected baskets of currencies, Japan, USA, HK, Singapore, Malaysia and Saudi Arabia, but NOT the world, as a whole. They justify this as an attempt to provide internal PPP (Purchasing Power Parity). The Monetary Method they are using is called NEER/REER method. I did learn about this in my Central Bank, studies, years ago, I do not read Thai so, I had a Thai friend, read the countries to me, from the following. http://www.bot.or.th/English/EconomicConditions/Thai/Index/DocLib_EconomicIndices/REER-construction.pdf The baht is weighted about 50% to the USD, YEN and SGD. (see chart in above URL), This is truly unfair to other countries currencies, but special unfair to some such as NZD, AUD, GBP and Euro countries. If the baht, was to float freely in foreign exchange markets, the rate would be much different, more in line with Agricultural/Natural Resource economies AUD/NZD than to the USD/YEN/SGD. Just a guess on my part, maybe 45 baht to the USD and other currencies all come up, as well, in a free market exchange. Investopedia explains Nominal Effective Exchange Rate - NEER... The NEER represents the relative value of a home country's currency compared to the other major currencies being traded (U.S. dollar, Japanese yen, euro, etc.). A higher NEER coefficient (above 1) means that the home country's currency will usually be worth more than an imported currency, and a lower coefficient (below 1) means that the home currency will usually be worth less than the imported currency. The NEER also represents the approximate relative price a consumer will pay for an imported good. Investopedia explains Real Effective Exchange Rate - REER... This exchange rate is used to determine an individual country's currency value relative to the other major currencies in the index, as adjusted for the effects of inflation. All currencies within the said index are the major currencies being traded today: U.S. dollar, Japanese yen, euro, etc. This is also the value that an individual consumer will pay for an imported good at the consumer level. This price will include any tariffs and transactions costs associated with importing the good. Link to comment Share on other sites More sharing options...
Lusty Posted February 4, 2009 Report Share Posted February 4, 2009 So is the Baht artificially high and is it likely to go tits up any time soon? I know that the Queens pound his struggling at the moment but our economy is still more stable than Thailand's,methinks! Link to comment Share on other sites More sharing options...
cavanami Posted February 4, 2009 Report Share Posted February 4, 2009 For me, the Thai Baht is 120% artificial...big time! Very soonit has to go tits up... Link to comment Share on other sites More sharing options...
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