USD tanking against Thai baht.

[urleft]

Just checking the exchange rate, it is now under 30, in some cases under 29. 


http://bankexchangerates.daytodaydata.net/default.aspx

[nookiebear]

Just checking the exchange rate, it is now under 30, in some cases under 29. 


http://bankexchangerates.daytodaydata.net/default.aspx

FFS Urleft,you are leading a somewhat boring exsistance!

[Bigbus]

it's just the the USD taking a shit kicking....there is other currency in this world also taking a hit....

[urleft]

and the tanking continues.

[DeputyDavid]

Still tanking...may have to work longer even to retire in Thailand....this sucks....

[urleft]

and the tanking continues.

28 baht to one USD. 


Damn, that is one less beer I can buy. 
 

[urleft]

All exchanges under 29 baht to $1 USD, several are under 28 to 1. 

To bad for those on fixed incomes. 


For those that are still planning retirement, I recommend a mix of:

- Pensions (these are fixed income, you can be hurt on exchange rates).
- Retirement Savings (if your country allows, I urge you to invest in them).
- Current Savings, this is money you have in regular bank accounts.
- Investments, this includes stocks, bonds and property. 
- Local money.  This can be both money converted to local currency in a Thai Bank and money earned from a Thai business.   

If you have a mix of these, you should be able to weather economy storms.  But if you just depend on one or 2, you can really be hurt by the exchange rates. 

But if you look at the decade view, it seems they exchange rates invert about every 10 years (+/- 10 years).  So the rates should get better.

However, that does not mean the exchange rates cannot tank a lot more, I have heard a prediction of 20 to 1 baht to USD.  That will hurt me, but not devestate.  I can continue to live the LOS, but just not as good as I hoped. 

I wish you all well in overcoming the current rates. 
 

[JasonB]

Yes but Bigbus,if the US falls,alot of other countries will too,and that is a real problem for all of us,as we lose real world spending power in Thailand,I think Urleft has a good reason to bring this up,JasonB.

[urleft]

Not sure what is happening, but the USD has about a .40 baht surge to 29.32 baht to $1.   All but 3 banks has the exchange at 29 or higher.  Hope this continues. 

[DeputyDavid]

 

I hope so too!

[urleft]

Again, not sure what is going on, but this is the 2nd Friday in a row the dollar has surged, up as high as 29.55 to $1.  All banks seem to have the USD over 29 (exchanging $100).

It fell most of the week, but has now popped back up. 

[nookiebear]

All exchanges under 29 baht to $1 USD, several are under 28 to 1. 

To bad for those on fixed incomes. 


For those that are still planning retirement, I recommend a mix of:

- Pensions (these are fixed income, you can be hurt on exchange rates).
- Retirement Savings (if your country allows, I urge you to invest in them).
- Current Savings, this is money you have in regular bank accounts.
- Investments, this includes stocks, bonds and property. 
- Local money.  This can be both money converted to local currency in a Thai Bank and money earned from a Thai business.   

If you have a mix of these, you should be able to weather economy storms.  But if you just depend on one or 2, you can really be hurt by the exchange rates. 

But if you look at the decade view, it seems they exchange rates invert about every 10 years (+/- 10 years).  So the rates should get better.

However, that does not mean the exchange rates cannot tank a lot more, I have heard a prediction of 20 to 1 baht to USD.  That will hurt me, but not devestate.  I can continue to live the LOS, but just not as good as I hoped. 

I wish you all well in overcoming the current rates. 
 

You never let on about your new role as 'financial advisor'.......I would have thought you would do better as 'security advisor'

[urleft]

You never let on about your new role as 'financial advisor'.......I would have thought you would do better as 'security advisor'

That's because if I told you about it I would have to kill you.   

 


Dark humor from security advisors I have worked with and trained. 

[JasonB]

I haven't killed anyone in a long time....but looks like you shut old Mate Nookie up.

[nookiebear]

I haven't killed anyone in a long time....but looks like you shut old Mate Nookie up.

That's just not possible!!