The UK pound is plummeting

[billd766]

7 hours ago, steven100 said:

ooooch ........   I believe it just dropped further ... 42.40 --  43    !

 

Kbank TT rate at 11:37 this morning was 43.2.

 

Much the same as before Carney raised the BoE rate by 0.25% last week.

[mikiea]

14 hours ago, simoh1490 said:

It's crass to brag about personal wealth hence I'm not keen to discuss the subject but I did indeed make quite a lot of money out of THB. I came here in 2004 when GBP/THB was in the seventies, within a year I bought my first condo which I lived in and also bought a new CRV, within two more years I thought I could see the writing on the wall so I imported my GBP wholesale, by 2011 I was almost all in THB however my income was in GBP. By that time I'd bought additional property and then I sold my condo, I did so when the pair were at around 50. All told today I have the same value of THB funds I started my retirement with in 2004 but but the GBP equivalent has soared massively, I also own my home and other investments in Thailand. The interesting part is I didn't set out to make a profit on any of this, it was all about survival and nothing more.

yada  yada  yada ......

[simoh1490]

38 minutes ago, mikiea said:

yada  yada  yada ......

Before emulating naam, it's helpful to have the pedigree that goes along with that poster profile, you don't!

 

chiang mai

Edited November 7, 2017 by simoh1490

[ExpatOilWorker]

7 hours ago, billd766 said:

 

Kbank TT rate at 11:37 this morning was 43.2.

 

Much the same as before Carney raised the BoE rate by 0.25% last week.

 

The medicine din't work, the patience need to see Doctor Carney again.

[rickudon]

It will probably be a hard Brexit. The UK government is backtracking on it's half-hearted promises made to the EU last month, and the EU commission says without any further clarification the December talks will not happen. And Tin lady refused to say to the CBI what the Brexit terms being negotiated will be, says 'wait until March 2019'. How the hell can companies make plans for trading with the EU? Most of the CBI would prefer Corbyn, at least they know where they stand. The EU itself is resigned to Hard Brexit, says 60% plus chance now. Remember, even if a deal was struck with the EU commission, it has to be ratified by all 27 other members. That will not happen overnight.

 

So, unless Brexit is binned, chance of any deal on trade (and everything else) is very low by March 2019, let alone ready to be implemented. Even flights to the EU could stop while access rights are renegotiated.

 

This is possibly the worst UK government since the 1688 revolution ........

[MaeJoMTB]

6 hours ago, rickudon said:

It will probably be a hard Brexit. The UK government is backtracking on it's half-hearted promises made to the EU last month, and the EU commission says without any further clarification the December talks will not happen. And Tin lady refused to say to the CBI what the Brexit terms being negotiated will be, says 'wait until March 2019'. How the hell can companies make plans for trading with the EU? Most of the CBI would prefer Corbyn, at least they know where they stand. The EU itself is resigned to Hard Brexit, says 60% plus chance now. Remember, even if a deal was struck with the EU commission, it has to be ratified by all 27 other members. That will not happen overnight.

 

So, unless Brexit is binned, chance of any deal on trade (and everything else) is very low by March 2019, let alone ready to be implemented. Even flights to the EU could stop while access rights are renegotiated.

 

This is possibly the worst UK government since the 1688 revolution ........

i like the idea of a hard brexit,

Stop all payments, cancel all imports from Germany, escort all EU nationals to France ........... "and don't come back!"

Exactly what all that voted 'out' wanted.

Edited November 8, 2017 by MaeJoMTB

[DUS]

46 minutes ago, MaeJoMTB said:

i like the idea of a hard brexit,

Stop all payments, cancel all imports from Germany, escort all EU nationals to France ........... "and don't come back!"

Exactly what all that voted 'out' wanted.

Yeah, the UK would be so much better off with no imports and no bloody foreigners! 

 

/ironyoff

 

 

[MaeJoMTB]

3 minutes ago, DUS said:

Yeah, the UK would be so much better off with no imports and no bloody foreigners! 

 

/ironyoff

 

 

Germany doesn't make anything I want.

Everything I buy seems to have 'Made in China' printed on the side.

Last German item I purchased Bosch coffee maker (Made in China)

 

Maybe  it should have been /stupidoff?

Edited November 8, 2017 by MaeJoMTB

[DUS]

2 minutes ago, MaeJoMTB said:

Germany doesn't make anything I want.

Everything I buy seems to have 'Made in China' printed on the side.

 

Maybe  it should have been /stupidoff?

Yawn!

 

Anyway, there are already lots of other Brexit threads where you can spread your xenophobic and economically illiterate thoughts. Enjoy na!

 

;-)

 

/overandout

[abrahamzvi]

10 hours ago, rickudon said:

It will probably be a hard Brexit. The UK government is backtracking on it's half-hearted promises made to the EU last month, and the EU commission says without any further clarification the December talks will not happen. And Tin lady refused to say to the CBI what the Brexit terms being negotiated will be, says 'wait until March 2019'. How the hell can companies make plans for trading with the EU? Most of the CBI would prefer Corbyn, at least they know where they stand. The EU itself is resigned to Hard Brexit, says 60% plus chance now. Remember, even if a deal was struck with the EU commission, it has to be ratified by all 27 other members. That will not happen overnight.

 

So, unless Brexit is binned, chance of any deal on trade (and everything else) is very low by March 2019, let alone ready to be implemented. Even flights to the EU could stop while access rights are renegotiated.

 

This is possibly the worst UK government since the 1688 revolution ........

If you are right, all one can say is that that will end up in more than a disaster for the UK. Even Corbyn, couldn't be as a disastrous PM.....

[abrahamzvi]

3 hours ago, DUS said:

Yeah, the UK would be so much better off with no imports and no bloody foreigners! 

 

/ironyoff

 

 

When I read such stupid and arrogant comments, all I can say is wait and see and then return to the UK. Maybe also Thailand will be better off without "bloody foreigners" of your views. Best of British Luck!

[Jip99]

4 hours ago, MaeJoMTB said:

i like the idea of a hard brexit,

Stop all payments, cancel all imports from Germany, escort all EU nationals to France ........... "and don't come back!"

Exactly what all that voted 'out' wanted.

 

 

I think you will find “not all”.

[DUS]

6 minutes ago, abrahamzvi said:

When I read such stupid and arrogant comments, all I can say is wait and see and then return to the UK. Maybe also Thailand will be better off without "bloody foreigners" of your views. Best of British Luck!

 

You what?

[abrahamzvi]

Just now, DUS said:

 

You what?

 

Just now, DUS said:

 

You what?

What is your guess????

[DUS]

1 minute ago, abrahamzvi said:

 

What is your guess????

 

I am sure you have either misinterpreted or misread my original comment. But never mind ... :-)

[Kwasaki]

The pound went up a bit this week because l telephoned the Thai foreign exchange and told them my pension is due. 

[billd766]

17 minutes ago, Kwasaki said:

The pound went up a bit this week because l telephoned the Thai foreign exchange and told them my pension is due. 

 

KBank this morning at 08:00 was 43.185.

 

Up a touch from yesterday, again.

[Jip99]

1 minute ago, billd766 said:

 

KBank this morning at 08:00 was 43.185.

 

Up a touch from yesterday, again.

 

 

But “plummeted “ from the 43.195 it was a few days ago ?

[billd766]

16 minutes ago, Jip99 said:

 

 

But “plummeted “ from the 43.195 it was a few days ago ?

 

On 23rd June 2016 it was 51.65688.

 

On 24th June 2016 it was 47.58938.

 

Now that is what I call a plummet.

 

I think something must have happened in the UK at that time but I can't remember what it was.

[rickudon]

4 hours ago, billd766 said:

 

On 23rd June 2016 it was 51.65688.

 

On 24th June 2016 it was 47.58938.

 

Now that is what I call a plummet.

 

I think something must have happened in the UK at that time but I can't remember what it was.

And since then has fallen as much again........

 

Another 18 months, repeat.

[Halfaboy]

I would expect that with unfavorable exchange rate lots of British pensioners would return to  the UK. Maybe I don't have up to date info but so far I hardly heard about this.

 

If this situation of exchange rates continues for a extended period of time would you expect a substantial exodus exodus ?

[scubascuba3]

Stop the panic. If you're the panicking type, don't look for a couple of years

[billd766]

2 hours ago, rickudon said:

And since then has fallen as much again........

 

Another 18 months, repeat.

 

KBank this morning at 08:00 was 43.185.

 

There is a big difference between overnight and over 18 months.

 

I was here in 1997 when the THB dropped from around 44 to around 87 THB pretty much overnight.

 

Now that was a plummet.

 

It took nearly 20 years to get back to the pre 1997 figures.

Edited November 8, 2017 by billd766
Added extra text

[swissie]

Is there a correlation between plummeting hard currencies versus the number of Farangs plummeting off balconies?
Cheers.

[abrahamzvi]

16 hours ago, Halfaboy said:

I would expect that with unfavorable exchange rate lots of British pensioners would return to  the UK. Maybe I don't have up to date info but so far I hardly heard about this.

 

If this situation of exchange rates continues for a extended period of time would you expect a substantial exodus exodus ?

If that happens, it wouldn't be the first time expatriates had tomove back home due to exchange rates. The last example of this, as far as I know, was Spain. In the 80s and 90s, some areas in the south of Spain were populated by British expatriates to the extent of 70-80%. The pound was high in Spanish Pesetas and the cost of living was low. It all changed when the Pesetas were converted to Euros and the rate of exchange of the Pound dropped drastically, added to the increase in the Spanish cost of leaving. Thousands of British expatriates had to return home, as they could no longer either exist or live reasonably comfortably in Spain on their income in Sterling. This could happen here or in some other countries. My personal advice to any expatriate anywhere, is to leave a certain base at home, to which one can return to when circumstances make it necessary.

[OJAS]

On 11/4/2017 at 8:04 PM, gamini said:

But he also went on to tell me that if the brexit deal did not have access to the common market then it could go down to 29.

Which would take the GBP to well below parity against both the USD and EUR - assuming, of course, that both these currencies still held to their existing values of around 33 and 38 respectively to the THB.

Edited November 9, 2017 by OJAS

[nausea]

New lows for the pound I hear, something to do with rumours of May losing another Minister (not Patel). You know I read somewhere that traders consider the pound untradeable because it's so dependent on unpredictable headlines.

[naboo]

9 hours ago, nausea said:

New lows for the pound I hear, something to do with rumours of May losing another Minister (not Patel). You know I read somewhere that traders consider the pound untradeable because it's so dependent on unpredictable headlines.

New lows? 

 

Higher than it was a week ago!

[MaeJoMTB]

7 minutes ago, naboo said:

New lows? 

 

Higher than it was a week ago!

XE says 43.6, last time I looked 43.4.

Been bouncing between 45 and 42.5 for the last year.

[gamini]

On 06/11/2017 at 12:20 PM, billd766 said:

 

Does he share the information with you so that you can be rich as well?

yes, thanks to him. He persuaded me to set up my own company and helped me with the acounts until it was established. He also advised me to sell my sterling based investments and and I would say that I am pretty well off now.