nigelforbes

They effectively increased the interest rate the government has to pay on foriegn debt (by weakening the Pound) but they haven't increased the key lending rate that will attract inwards investment and capital inflows, a big difference.

Currency exchange rates rarely make big moves and stay there forever, at some point the markets will see the Pound is oversold and it will rebound. That may well be a dead cat bounce, unless the UK economy starts to see some tangible benefit to the tax cuts that caused all of this. The other reason it will improve is because the BOE will have to increase interest rates at some point, that will make the Pound more attractive or rather I should say, less unattractive.

Wait until the FTSE opens, that should be fun!

USD is abnormally strong, it will weaken in due course and the rate against the Pound will improve, 1.04 is not a normal GBP/USD exchange rate. In the meantime, UK exports will more attractive plus the UK will attract more overseas business, expect bankers to return to the City. And yes, higher interest rates are overdue, that also will strengthen the Pound.

I'm not suggesting the Pound will fall to 35 and stay there now, it may well drop further but I would expect it to recover at some point, to what level I've no idea but it won't be stellar. The point I was trying to make is that longer term, a gradual permanent fall to 35 is almost guaranteed but that may take time.

The prospect of the Pound at 35 has been on the cards for decades, the writing has been on the wall and in the charts for years, the covid19 pandemic only interrupted that process. https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-THB

There's no such thing as a useable currency forecast, all those sites do is extrapolate current levels and trends. Go back and look at the Sterling forecasts of a week ago and see what they forecast then, 6, 12 and 24 months on and you'll see what I mean, they will be the exact opposite of todays forecasts.

He escaped to Canada, it took a long time before he was able to be successfully extradited and tried in Thailand.

It might help to put Baht strength into perspective. https://www.reuters.com/markets/europe/global-markets-view-asia-graphic-2022-09-25/

I visited last month for the first time. English speaking greeters meet patients at the front door where registration is done, after which we were told to go to station number 2, around the corner. My name was called after 5 minutes and a very complete medical history was taken by someone who wasn't just trying to tick boxes. On to station number 3, nearby and clearly marked where various eye tests were performed. And so it continued until I ended up outside Dr Roys office, half an hour later. My appointment with him was for 9:30, I saw him at 9:45. I thought is all went very smoothly and I couldn't see where it might be improved on and I'm picky about these things at times. The best part was realizing that I was in the hands of a doctor who is very clearly an expert and highly competent, that's a nice feeling.

The 19 billion is the difference in the valuation of the Thai foreign currency reserves at 30 baht per USD one year ago versus the valuation today at 36 baht per USD. The 19 billion hasn't really gone anywhere, it's smoke and mirrors by political adversaries who want to make mischief.

No, it's a standard basic Bank Account account that I've held for many years and there is no monthly fee. Yes, my address is in Thailand but it changes backwards and forwards every few years, depending on where I'm living, currently I'm living at my home in Thailand.

HSBC UK charges me 5 Pounds per international transfer and I send Pounds. Bangkok Bank receiving fees are minimal and the exchange rate is the TT rate.

I was recently very impressed with all aspects of the Runtin and with Dr Roy. Especially after reading reviews here that said the place was so difficult to navigate and that the lack of English speaking staff was a such a problem, neither of which was true.

I was agreeing with you, just in case you didn't understand. "Exchange rates are basically a comparison between the policies of two countries. It is essential to understand that exchange rates are not absolute rather they are relative". https://www.managementstudyguide.com/how-are-exchange-rates-determined.htm

What you wrote is true, except the forex system only sets relative values, not absolute values. Absolute values are set by dealers as part of the interbank trade. In the case of GBP/THB, the forex system refers to USD/THB and USD/GBP to establish the relative rate. Dealers then make variable adjustments to the absolute rate to compensate for extraneous factors the forex system cannot see. As a result it's quite possible for GBP/THB to change, even though USD/GBP and USD/THB remain constant. Those changes usually reflect the GBP/THB economic relationship only and have little to do with USD.