The UK pound is plummeting

[Franko666]

On 05/11/2017 at 8:11 AM, adammike said:

The Web page of superrich is at 43:20 baht for one £.the Kasikornbank is 41:81.I thought everybody knew to bring cash and change at the TT booths or superrich. 

 Do you know what TT are offering  for AUD for Thai Baht. I'm not in Thailand at the moment but could get 25.30  THB for 1 AUD in Phuket last week but no TT there. Did i tell you Phuket was a rip off, probably not but it is. Does TT publish daily rates? Could never find them.

[abrahamzvi]

On 11/4/2017 at 8:19 PM, simoh1490 said:

Poster chiang mai (rest in peace) was whipped up one side and down the other for almost two years for suggesting 42 was possible, now you come along and suggest 39 might become a reality,  it's heresy and treason many will say! Personally, I'm thinking 35 (plus or minus 10%) is in order, almost certainly within five years!

It all depends on the terms of Brexit. If it is a "hard Brexit",which I don't believe will be the case, it could go down further than even 35 to the THB, or even on a par basis to the US$. However, if a sensible and good Brexit is negotiated (like Norway or Iceland) than we can see the Pound going back to 45-48 o the THB. The British economy has the potential, but not without the advantages of free trade with the EU. Brexit is bad enough, a hard one is really bad!

[robertson468]

So your Friend studies the stock markets and is an Accountant.  Well done him, but far better men than him have tried to forecast where the markets and currencies are going.  If he is so sure, I presume he has invested the millions (which he does not appear to have) and put his money where his mouth is?  Not only does he need to study the markets, he also needs to study World Events, which have a far bigger impact on the markets.  The Spannish political scene might implode and this would rattle the Euro very badly and could push other doubting thomases further towards the edge of Exit, further damaging the Euro.  USA goes to war with North Korea and sustains a nuclear strike.  South Africa becomes an investment leper due the high level of corruption.  After the elections the political parties start in-fighting again and overseas investments pour out of the Country.....guess who I am thinking of?  So my Friend, there is much more to think of than where your Pal is coming from.  If we all knew for certain where the markets and currencies are heading, we would all be incredibly rich.

[gamini]

On 04/11/2017 at 8:19 PM, simoh1490 said:

Poster chiang mai (rest in peace) was whipped up one side and down the other for almost two years for suggesting 42 was possible, now you come along and suggest 39 might become a reality,  it's heresy and treason many will say! Personally, I'm thinking 35 (plus or minus 10%) is in order, almost certainly within five years!

unfortunately I think you are right

[gamini]

On 04/11/2017 at 10:46 PM, ExpatOilWorker said:

Amazing how strong the Singapore $ have become, 8.57 to 1.9.

GBP 31 bt in 1984!!

[Jonmarleesco]

When Galbraith talked of there being two kinds of forecaster, the ones who don't know, and the ones who don't know they don't know, I'm not sure he had amateurs in mind.

[gamini]

On 05/11/2017 at 5:33 AM, simoh1490 said:

You would do well to put that statement into context, a better way to express it perhaps is, "never invest more than you can afford to lose", regardless of whether it's Thailand, London or New York. And yes, a little investment in Thailand will certainly be advantageous yet only few have the interest or wherewithal to be able to do it, for some odd reason. I moved here full time fifteen years ago and I can honestly say that without my investments in Thailand and my willingness to exchange a majority of my cash assets into THB some eight years ago,  my retirement plans would have been sunk. I think however the point that Swissie is making is that retirees on fixed income need to factor in the potential for a very low exchange rate before confirming their plans to sell up and retire here, sensible advice indeed.

A very good reply. The same applies to me. I invested in Bumrungrad Hospital shashares and a condo and did very well on both so now i have enough money to see me through.

[shaurene]

Yes. And also a lot of other western currencies. I just checked the Pound. It shows 43. Our NZ$ is down to 22 from 25 a few months ago, Australian $ is also well down.

The pound will be iffy until a Bretex deal is done. France will be pushing to take over the money Center from London. UK will take a few years to come back to a leading world economy after it leaves, but it will.

Thailand has a good economy at the moment which helps the Baht as an investment currency. With no signs it will suffer. Last year April 16 I transfered  NZ$100,000 and I got 24.4 baht to the $. I just changed 1.4 mill baht for NZ$ and I only had to pay 22.55 baht for a NZ$ which gave me a nice little profit.

[ginjag]

On 11/4/2017 at 10:16 PM, jeab1980 said:

Lol a friend said.

My mum said we would go to war with the USSR. Back in the 80's still waiting.

A friend told me we would have flying cars by 2020 !

Ps its 43.33 so where do you get just over 42?

Maybe Airport mafia rates, or hotels.??

 

[gamini]

37 minutes ago, robertson468 said:

So your Friend studies the stock markets and is an Accountant.  Well done him, but far better men than him have tried to forecast where the markets and currencies are going.  If he is so sure, I presume he has invested the millions (which he does not appear to have) and put his money where his mouth is?  Not only does he need to study the markets, he also needs to study World Events, which have a far bigger impact on the markets.  The Spannish political scene might implode and this would rattle the Euro very badly and could push other doubting thomases further towards the edge of Exit, further damaging the Euro.  USA goes to war with North Korea and sustains a nuclear strike.  South Africa becomes an investment leper due the high level of corruption.  After the elections the political parties start in-fighting again and overseas investments pour out of the Country.....guess who I am thinking of?  So my Friend, there is much more to think of than where your Pal is coming from.  If we all knew for certain where the markets and currencies are heading, we would all be incredibly rich.

What do you mean he does not appear to have? He is incredibly rich, Rolls Royces, Race Horses etc . He studies the stockmarkets and invests in them too. He is a chartered accountant incidently that is very much more than an accountant.  

[Anon999]

This morning the opening TT rate at Bangkok bank was 42.9425 after hitting a low of just over 42  because the BOE rate hike from 0.25 to 0.5% disappointed the markets. They wanted more and of course the markets only operate on two scenarios greed and fear!

[billd766]

35 minutes ago, gamini said:

GBP 31 bt in 1984!!

So what?

 

GBP was 86 in 1997.

 

When I did my retirement planning in 2002 it was 72.

 

At 10:00 this morning the TT rate at Kasikorn was 42.90625, up from 42.745 on Friday about the same time. On Thursday it was 43.525.

 

[billd766]

21 minutes ago, gamini said:

What do you mean he does not appear to have? He is incredibly rich, Rolls Royces, Race Horses etc . He studies the stockmarkets and invests in them too. He is a chartered accountant incidently that is very much more than an accountant.  

 

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

[hugh2121]

Thai Baht

43.37000

-0.01000

 

 

Mid-price at time of posting. bbc.co.uk/business

[pumpjack]

when will we know about whether there will be a hard brexit or a soft brexit ? 

i sold a condo 1 year ago and am bringing the GBP back home to uk in £8000 stacks on my person , so it would be great if the pound will drop to 30 ,    quids in .  

 

but....if rocketman decides to fire another one off this next few days on trumps visit  my guess is that we,re all f**ked !!!

[bazza73]

The Swiss franc seems to be the refuge currency - every time there is a world crisis, it appreciates in value.

[realenglish1]

On 11/4/2017 at 8:19 PM, simoh1490 said:

Poster chiang mai (rest in peace) was whipped up one side and down the other for almost two years for suggesting 42 was possible, now you come along and suggest 39 might become a reality,  it's heresy and treason many will say! Personally, I'm thinking 35 (plus or minus 10%) is in order, almost certainly within five years!

Rocket scientists You should start trading on a monetary exchange

[simoh1490]

5 minutes ago, realenglish1 said:

Rocket scientists You should start trading on a monetary exchange

I did, I made a fortune!

[adammike]

5 hours ago, Franko666 said:

 Do you know what TT are offering  for AUD for Thai Baht. I'm not in Thailand at the moment but could get 25.30  THB for 1 AUD in Phuket last week but no TT there. Did i tell you Phuket was a rip off, probably not but it is. Does TT publish daily rates? Could never find them.

No I am in the Netherlands but I guess it's close or a bit under the superrich rate.I am in the Netherlands. If you can't find the TT rates with Google I can't. I don't know how fast the superrich keeps up with the changes the TT rate moves up and down all the time.its showing 25:40 for 1 AUD at this time.

[speedtripler]

9 hours ago, catman20 said:

to-day the GBP is just over 42 baht. But my friend thinks it will go to 39. I think he is right, he is a currency trader and chartered accountant.

. 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. It is a bit of a worry, especially since it is getting expensive to llve in Thailand now.

 

 

i think if you want to live and have farang things in Thailand its not been cheap to live here for many year now.

Deffo not cheap anymore

Just spent two weeks visit on UK mainland and practically everything you need for day to day living was cheaper.... 

I hadn't been back in a long time so I was shocked to see how cheap the stuff is, and normally higher quality too... 

[mikiea]

On 11/4/2017 at 8:19 PM, simoh1490 said:

Poster chiang mai (rest in peace) was whipped up one side and down the other for almost two years for suggesting 42 was possible, now you come along and suggest 39 might become a reality,  it's heresy and treason many will say! Personally, I'm thinking 35 (plus or minus 10%) is in order, almost certainly within five years!

it happens ...i was sending USD to china as fast as i could 12-13-rears ago the street exchange was 8.9 to one  ...with little to none on inflation .  now chinese peeps have gone crazy with spending  ....the rate is clawing its way back . but that will not happen in thailand , these peeps also spend crazy but the put it on a cred cardit or borrrow , no gain there . chinese spend from savings ....

Edited November 6, 2017 by mikiea

[mikiea]

5 hours ago, simoh1490 said:

I did, I made a fortune!

yea right 

 

[swissie]

7 hours ago, bazza73 said:

The Swiss franc seems to be the refuge currency - every time there is a world crisis, it appreciates in value.

Correct. But without wold crisis, the Swiss Franc has also lost versus the Thai Baht. Well, I have uttered my thoughts already in post # 10.

Cheers.

[simoh1490]

6 hours ago, mikiea said:

yea right 

 

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.

[steven100]

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

Edited November 6, 2017 by steven100

[Kadilo]

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.

For someone not keen to talk about it that’s a pretty long brag.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[simoh1490]

Just now, Kadilo said:

For someone not keen to talk about it that’s a pretty long brag.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

No, that's an explanation of how currency exchange rates can work in an expats favour and I'm not about to rise to your bait.

[steven100]

4 hours ago, steven100 said:

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

42.00 GBP  /  THB    ...  not looking good i'm afraid.

Edited November 7, 2017 by steven100

[Kwasaki]

4 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.

Yes l was fortunate in the September of 2005,  l got money over from UK for my new Vigo to pay in cash and finished house and house extension.

Also bought some farm land.

I had no idea at the time how long it would be in the 70's but would of done the same and got amount l needed at that time no matter what the rate was l just think was lucky guess.

[Kwasaki]

7 minutes ago, steven100 said:

42.00 GBP  /  THB    ...  not looking good i'm afraid.

https://themoneyconverter.com/GBP/THB.aspx l always check here and it's higher than  that today also  the amount accounts right with the amount l get in pension.