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Is my money safe in Thai baht and banks?

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If I keep all my money in Thai banks and Thai baht,( this is my plan for the next 2-3 years or so), would it be a safe bet?

 

They say the Thai baht is too strong now, might it crash to nothing within the next few years?

 

I could keep the money in dollars in Canadian bank, but tired of transfer fees all the time...

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Yes, could move enough for that, but will it be safe from Thai baht fluctuations or is there an imminent devaluation or crash ahead?

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1 minute ago, ubonjoe said:

You could open a foreign currency deposit account so you only have to worry about exchange rates when you withdraw funds and change it to baht.

Info here for an account at Bangkok Bank. 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/ForeignCurrencyAccount/Pages/Default.aspx

Great idea, I'm Siam and Kasikorn, I'll go talk to them about it

 

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At the end of the day, currency fluctuation is a crap-shoot. Anyone that knows what currencies are going to do:
1. Are incredibly wealthy.
2. Are not posting what they know on a website.

While it has weakened a little lately, looking at 1, 5 & 10 year charts the Baht seems to be a good bet against the C$

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Not all branches of the same bank will open a FCD account for you for example I only know of 2 branches of Kasikorn bank in CM that will and one of them is useless no updating or withdraws can be made from non FCD branches but to answer your question it appears safe enough if you find and stick to one branch.

 

 

  

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21 hours ago, jvs said:

Yes we would all like to know but that is not the way the cookie crumbles.

Indeed....another one for the wife's fortune teller. ...She's keep really busy on topics such as this.

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Posted (edited)

 

 

Nobody, repeat nobody knows the future regards currencies.

 

Too many variations and outside influences. Why do you think a forum here could possibly help with such a complex subject. You pays your money, you takes your chance!

 

I was looking this morning as I have substantial funds in Cambodia in USD, two major hedge funds say the USD has peaked, whilst another three says it has more to go!

 

Do I pull the money out and send it to Thailand and lose 5.5% monthly interest or do I leave it and if the USD drops to 30, my savings in value against the THB and interest earned are in minus territory.

 

Also, with Thailand, we don't know if elections will take place or not, and whoever wins will have a bearing on the THB which is still linked alongside a basket of currencies to the USD.

 

I have had large amounts with KTB since 1996 and that includes through the financial crisis, are they safe? I think......or I really HOPE so!

 

.

Edited by Scouse123

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Why does this have to be an all or nothing? Think in %% - - diversity is your friend... 

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3 minutes ago, Scouse123 said:

Do I pull the money out and send it to Thailand and lose 5.5% monthly interest

You get 5.5% a month in interest? Wow or a typo? 

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BANGKOK 21 August 2018 18:33
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