| |
Yurune
|
bragging unsubstantiated.....hehehe...oh Dickless you sweet talker....and nowhere did I say I was getting it, I have no reason to exchange currency....
however....
The bank I check at each day is an average everyday high street bank here in Thailand.
The buying rate for GBP has not gone below 70 at any time I have checked in the last 5 months. Last time I did exchange anything I got 71.34, but that was some time ago. I know as it was a large sum and I still have the receipts in my briefcase.
Now then...I had some people arrive from the UK last week. They exchanged some currency in the UK and got 68+, I do not know the exact amount. I told them they needn't have bothered changing as I was with them from their arrival. At Don Muang that day it was over 70. On Friday they looked at the exchange rate with me at several branches of SCB, KB and BB. All showed over 70. 70.12 I think was one of the rates.
Now....I do not dispute power24's statement that it seems to have dropped over the weekend, (I really do have better things to do than monitor currency on the weekend) as today's rate at the branch I check is 69.13 for cash, 69.74 for TC.
I think though, even after this drop, we can safely conclude that someone getting 65 in a soi 7 exchange booth, has been well and truly ripped off. less than the UK, and less than the 70+ I saw every day last week.
May I also tell you that the selling rate for notes is 70.89 less than 2B above the buying rate, so hardly a huge spread.
I'll also tell you that the dollar has dropped nearly 2p on the pound since New Year.
xe.com today shows the baht at 70.2379. That massive drop didn't last.
edit
18 minutes after my post here...xe.com now shows it at 70.3032
edit (the sequal)
2 further minutes it is at 70.3307
edit (return of the edit)
5 further minutes it is at 70.3386
The point being you cannot llok at xe.com that moves so fast and get a reading and think that what you see at that moment equates to the end of day results that the bank will enforce.
xe.com's records show no drop od going to 69.xx over the weekend
Saturday shows: 70.4004
Sunday shows 70.3956
Now, the banks are obviously following a rate that did, as they have dropped today, but as I said, first time for a while at my branch.
|
Thai Girls : Meet Sexy Thai Girls
Posted on: 12:55 am on Jan. 16, 2006
|
|
|
|
Yurune
|
highly possible, but if the banks are not following that particular snap shot in time?......the fact is the following day (ie the 13th) my local branch has a confirmed rate of over 70...I have paperwork here to prove it so your faraway opinion means shit to me.
Down to 70.09 at this time....the remarkable swings in one day...if only it was more constant, like Daffy's inability to post about Thailand.... 
edit........next day out of posts.
fyi...todays rate at the branch 69.93.....nearly made it back to 70.
xe.com is showing 70.26
it shows yesterdays rate as 70.05
You may notice that the bank rate here is only a wee fraction lower than the closing rate shown on xe.com
therefore: do not relate one to the other for your accurate assumptions
QED
|
Thai Girls : Meet Sexy Thai Girls
Posted on: 10:21 am on Jan. 16, 2006
|
|
Broken Leg
|
Another story in the post today quoting the govenor of the bank of thailand suggesting recent baht strenth due to the currency coming in to buy shin corp shares, although i'm sure the interest rate increase didn't hurt wish they'd hurry up I'm having to drink one less bottle of heineken every 3 nights at the moment.
|
Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 1:22 am on Jan. 20, 2006
|
|
power24
|
Baht has been below 70 for the past 4 days now. Currently trading at 68.9 to the pound. Maybe its due to shin corp or due to a offshoot effect of the rebounding Nikkei market?
|
Thai Women : Meet Matured Thai Women
Posted on: 1:28 am on Jan. 20, 2006
|
|
Yurune
|
I'm having to drink one less bottle of heineken every 3 nights at the moment.
The hardships of being an International Trader
|
Bangkok Women : Meet Beautiful Thai Girls
Posted on: 2:51 am on Jan. 20, 2006
|
|
China Sailor
|
From Singapore's TODAY newspaper (Jan 20th Edition) :
---------------------------------------------------------------------
Thaksin in S’pore, Ho Ching in Bangkok – is a deal in the works?
TWO weeks ago, Thai Prime Minister Thaksin Shinawatra told the Thai public that his recent visit to Singapore was a “shopping trip”. Though the Thai media speculated that it was to discuss selling a stake in Thailand’s Shin Corp to Singapore’s investment company, Temasek Holdings, the billionaire remained mum. Yesterday, a day before the sale is expected to be announced on the Thai stock exchange, it was rumoured that Temasek chief executive Ho Ching (picture) was in Bangkok. A source close to the Thai political establishment told TODAY that the Temasek boss had been seen in Thailand’s capital city. The official opening of the Pathlight Café in Singapore was also delayed by an hour because Ms Ho was “flying back from Thailand”, event organisers told the audience. Ms Ho is an adviser to Pathlight School, a school for children with autism.
A Temasek spokesperson declined to comment on the mounting speculation and on Ms Ho’s whereabouts yesterday. Thai newspaper Prachachat Business reported on Wednesday that Shin Corp might file a statement today to the Stock Exchange of Thailand to inform the bourse about the stake sale to Temasek. The sale will involve the entire 49.61-percent stake owned by the Shinawatra family to Temasek, the newspaper said, quoting sources close to Dr Thaksin. The value of the deal is expected to be more than 70 billion baht ($2.9 billion), according to the paper. Shin owns a 43-per-cent stake in Advanced Info Service, Thailand’s largest mobile phone operator. Speculation over the sale of the Thaksin family stake started last October.
--------------------------------------------------------------------
Also from the same edition:
-----------------------------------------------------------------------
Baht rises on Shin sale talk
Increase mainly due to mega share sale of the company: Thai central bank head
BANGKOK— Bank of Thailand Governor Pridiyathorn Devakula (picture) said yesterday that the current baht strength is mainly due to equity-related inflows from a mega share sale deal of Shin Corp, Thailand’s telecommunications conglomerate. “The baht strength is due to the money inflows from buying Shin’s stake. I don’t know details about the deal. I just saw today the broker selling (the dollars) in the market,” Dr Pridiyathorn told reporters. “I don’t know about the payment of the deal, whether the money has been paid in full already or not. I don’t know how much shares they sold.”
Local newspapers reported earlier this week that the Dr Thaksin’s family had agreed to sell their Shin shares to Temasek Holdings in a deal valued more than 70 billion baht ($2.9 billion). Mr Pridiyathorn said that the central bank’s quarter percentage point hike in the country’s key interest rate on Wednesday was not the reason of the baht strength. However, he said the current baht strength is normal because there is no unusual activity in the market, so the central bank need not intervene. “The baht strength is normal. It’s good. We haven’t done anything. There is nothing wrong in the market. We don’t have to do anything,” he said.
In early afternoon trading yesterday, the dollar was quoted at 39.425 baht, up from 39.30 baht earlier in the day on dollar short-covering after a steep selloff by a US investment house on Wednesday, suspected to be related to Shin’s share sale deal. “The US house sold the dollar heavily yesterday. Today is about correction after the dollar’s sharp fall,” said a local bank trader. “But we just saw another foreign house, which may be another agent for the Shin deal, start selling the dollar again. But the amount is not huge like yesterday.”
On Wednesday, the dollar closed at 39.43 baht, down sharply from the previous Asian close of 39.72 baht. The market largely expects Shin to confirm as soon as today the sale of the 49.61-per-cent stake in Shin owned by the family of Dr Thaksin, to a foreign partner.
— DOW JONES
-------------------------------------------------------------
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 7:22 am on Jan. 20, 2006
|
|
Bangkoksexydotcom
|
Yep even the bank of thailand said it today that shin people rasing the currency. My advice wait untill they are done
|
Thai Girls : Meet Active Thai Girls
Posted on: 10:56 am on Jan. 20, 2006
|
|
China Sailor
|
This is the latest from Channel NewsAsia 20 Jan @ 1342 (GMT +8) :
--------------------------------------------------------------
Shin Corp says no information about deal with Singapore
BANGKOK : Thailand telecom giant Shin Corp said it could not confirm reports that the prime minister's family was about to sell its majority stake in the firm to a Singapore company.
Shin Corp, which was created by Prime Minister Thaksin Shinawatra, has been the subject of intense speculation that his family would sell at least some of its 49.6 percent stake to Singapore's Temasek.
But Shin Corp, which has repeatedly denied such reports, said Friday it has not received "any words or information concerning this matter from the major shareholder.
"The company will inform the Stock Exchange of Thailand promptly after receiving the information from Shin's major shareholder," Shin Corp said in a statement.
The latest denial came after Thailand's central bank chief said the baht's recent strengthening was caused by foreign currency inflows to buy Shin Corp shares.
"It is for the purchase of Shin shares," Bank of Thailand governor Pridiyathorn Devakula said, according to Thai newspaper reports.
"There was a broker (associated with the Shin deal) selling (foreign) currency in the market. I just learned about it... but don't know how much money it has. I don't know how many shares they're going to sell," he said in a Nation daily report.
If confirmed, the deal estimated to be worth up to 76 billion baht (1.9 billion dollars) would make it the biggest corporate takeover in Thailand.
The baht traded late Thursday at a nine-month high of 39.37-40 to the dollars.
A sell-off of at least part of the 49 percent stake owned by Thaksin's family has been talked about in the Thai media since October.
Thaksin himself has consistently refused to comment on the rumours.
"You have to ask my children," he told reporters early Friday, in an oft-repeated line.
Thaksin's daughter, Pintongta Shinawatra, is the single largest shareholder in Shin Corp with a 14.67 percent stake.
Thaksin was a police officer until he resigned in 1987 to form Shin Corp, a business that has expanded to become the major player in Thailand's telecom market but which also includes satellite services and a stake in discount carrier AirAsia.
He created his Thai Rak Thai Party in mid-1998 and then retired from his business posts in 2001, transferring his shares to relatives in order to comply with Thai electoral laws.
Shin Corp's biggest asset is mobile phone company Advance Info Service, in which Singapore Telecommunications (SingTel) already owns 19 percent.
---------------------------------------------------------------------
Don't you love 'Plausible Deniability'...
|
Thai Women : Meet Matured Thai Women
Posted on: 11:45 am on Jan. 20, 2006
|
|
scobie
|
According to this week's Economist, the baht is still weaker now than it was a year ago, when it averaged around 38.5 in January 2005.
Is it really worth worrying over a baht or two?
|
Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:26 pm on Jan. 22, 2006
|
|
| |
|
