16 replies to this topic
Posted 2011-12-29 20:48:30
i have a little sterling and have been holding off changing it until it hits 50 baht to the pound. it looks like its never gonna make it, not this year anyway. i can only see it going down even more next year.
what do you think ?
also they have brought out a new note so that presents more problems when i try to change at thai banks.
any suggestions on where i can get a strong rate in Thailand. ? better than the banks, i mean.
many thanks in advance for your advice and opinions.
Posted 2011-12-29 21:14:41
Superrich is good, i think its the best it going to be for a while up and down around the 48 mark, it normally goes down in January from my experiences
Posted 2011-12-29 22:47:19
hi, a little bit vague. can you tell more please ?
surely something will happen but do you anticipate a positive outcome ? if so why please ?
Posted 2011-12-30 00:07:39
Think he's taking the Mick matey.
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Posted 2011-12-30 01:02:53
You'll get a slightly better rate for 50 pound notes (as opposed to smaller denominations) at the specialist money changers like SuperRich. Whether we will see 50 baht for a while though is more doubtful.
Posted 2011-12-30 07:32:03
OK where to start here.
Firstly how long have you had your fifty pounds notes, the reason I ask is because a new one was released in November.
The new fifty is accepted in Chiang Mai as of last week, my Father in law exchanged them at Siam Commercial Bank there. They are still accepting the old fifty but listen to this, it is discretionary on the bank (at branch level).
If you hold on to the old fifty too long waiting for a good exchange rate, you may be on a sticky wicket when you come to exchange it for THB.
My experience is that in Jan - April the exchange rate favours the THB, in May - November it favours GBP. (Take with a pinch of salt, its so up and down it barely true anymore it was the case from 2004 - 2009) but since then we are living in mad times.
The wait and see approach to exchanging GBP to THB may prove to be a bad one, you Britain tends to devalue its currency to peg (unoffically) to the Euro. If our currency is too strong, we have a hard time exporting, there not too concerned about your travel exchange rate you see.
In all indications the Euro is either going to collaspe or introduce QE (printing money notes) and devalueing. If so you may find GBP doing the same, it doesnt hurt our ecomony except push up inflation in a deflationary market, which is why we all still here and interest rates havent gone up.
It is my own personal opinion that the THB is seriously overvalued and in order to kick start the Thai economy the THB will probably engage in its own QE in the next 12 months.
Right now a crystal ball would be handy wouldnt it. Which will go first, this is where currency traders make a fortune, but the man in the street, my guess is the Euro will devalue as with the Pounds before the Thai Baht devalues.
This time next year we will all have massive inflation problems, but the THB : GBP will be around 45:1
Meanwhile someone somewhere has made a lot of money from the turmoil.
Posted 2011-12-30 08:04:06
The old 50Pound note is still acceptable anywhere, it is legal tender until the BOE says otherwise, if a bank in Thailand refuses then tell them to go to the BOE website.
For exchanging I use either Superrichthailand.com or siamexchange.co.th (next to Siam Discovery).
Posted 2011-12-30 08:15:54
Easier said than done sometimes. This is good info from beano2274, but please bear in mind a £50 note is only legal tender in England. No other country or bank is obliged to exchange it. Generally as rule, there not too bad in Thailand, just ensure none of the notes are ripped or torn. Also try to avoid notes that have been excessively worn. I have personally had problems with £20 notes in the past like this and no pointing to the BOE website would have made the foggiest bit of difference either.
Posted 2011-12-30 08:24:42
True about the quality of notes, mind you I still get some shabby looking ones, and that includes the old 50GBP note that I still have and the 2 x 100GBP (Scottish) that I got in May from superrich.
Posted 2011-12-30 08:25:40
and the baht against the pound might hit 49 today. (Selling pounds for baht)
Posted 2011-12-30 08:38:54
Unless you have crystal ball you cant see the future. Why the hell not. LOL
Posted 2011-12-30 13:26:05
im the same quiteman,brought a bundle with me from uk,waiting for the 50bht mark,noing my luck will give in and sell at 48+ and it will go up,was 49.10 the other day thought i will hang on 24 hours,see if it got better,no chance went down.any one want 10k sterling at 50bht,lol.
Posted 2011-12-30 17:16:57
just an update. changed all of it today at bangkok bank 48.15 baht to the pound.
checked close of business today. it was at 48.9 and falling. glad i changed it and its out of the way now.
obviously i wont be checkin it again as i dont want it see that it has risen dramatically.
thanks for all your inputs, it is appreciated.
have a really great new year and please be safe. hope to talk to ALL of you again in the new year.
Posted 2011-12-30 17:33:17
Super RIch were offering 48.4 for 50GBP notes before close and 48.3 for all other notes.
Siam Exchange are offering 48.55.
It pays to shop around and not just take the best thing.
Posted 2011-12-30 17:35:10
Both are open until 6.30pm for those interested.
Edited by beano2274, 2011-12-30 17:35:52.
Posted 2011-12-30 17:58:34
thanks Beano, but i,m in the sticks, so happy enough. both these exchanges too far away from me.
happy new year and hope to talk soon in the new year.
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