GBP to Thai Baht.

[NoshowJones]

In the past week, the GBP has increased by about 2Bt to the pound, why is this? Is it about Brexit

or has the Thai baht plunged a bit? Just hoping it keeps up.

[nausea]

Love the timing, end of the month, just right for my pension payment.

[Pilotman]

Currency speculators cashing in is my guess.  The pound is seriously undervalued on the world currency markets, notwithstanding Brexit.   

[AlexRich]

Strange how those that vote Brexit believe its a great move economically, yet the prospect of a softer or no Brexit sends GBP up relative to world currencies. I'd expect a revival if May's deal gets through the commons ... a long transition period and no over the cliff exits.

[sanemax]

Just now, AlexRich said:

Strange how those that vote Brexit believe its a great move economically, yet the prospect of a softer or no Brexit sends GBP up relative to world currencies. I'd expect a revival if May's deal gets through the commons ... a long transition period and no over the cliff exits.

Brexiters want UK independence , thinking about the future , rather just about thinking about  todays Pound/Baht exchange rate 

[AlexRich]

1 hour ago, sanemax said:

Brexiters want UK independence , thinking about the future , rather just about thinking about  todays Pound/Baht exchange rate 

The GBP exchange rate reflects future prospects for the UK. The harder the Brexit the poorer those prospects become. 

[sanemax]

Just now, AlexRich said:

The GBP exchange rate reflects future prospects for the UK. The harder the Brexit the poorer those prospects become. 

Its debatable as to whether a strong Pound is either good or bad for the UK economy , its beneficial to the UK tourist industry , beneficial for UK exports and may help the UK in its early years of Independence , and it just means that UK retirees in Thailand just need to cut down on their drinking to compensate for the lesser Baht they are now getting

[trd]

Sterling started to rise sharply in the last few days when it became likely that Article 50 will have to be extended thereby avoiding a crash out from the EU. That's good news for the forex market.

[Pilotman]

1 hour ago, AlexRich said:

The GBP exchange rate reflects future prospects for the UK. The harder the Brexit the poorer those prospects become. 

No it doesn't. it reflects the manoeuvring of currency speculators. They have no more idea of the UK's future prospects than my cat does. 

[AlexRich]

29 minutes ago, Pilotman said:

No it doesn't. it reflects the manoeuvring of currency speculators. They have no more idea of the UK's future prospects than my cat does. 

Whether they are right or wrong remains to be seen, but the rate reflects their opinion on whether hard brexit is good or bad for the UK ... and in their opinion, and mine, it is bad.

 

 

[trd]

No it doesn't. it reflects the manoeuvring of currency speculators. They have no more idea of the UK's future prospects than my cat does. 

Manoeuvring of speculators is what any market is whether you're buying currency or mangoes.

[jackdd]

Just compare it with other currencies, then you can see the reason.

GBP - EUR and GBP - USD show that GBP got a bit stronger

EUR - THB and USD - THB show that THB also got a bit weaker compared to these currencies.

So two factors came together, GBP got a bit stronger and THB a bit weaker.

[NoshowJones]

5 hours ago, nausea said:

Love the timing, end of the month, just right for my pension payment.

I just got money sent from the UK last week, then the pound rises by about 2 Baht

[BritManToo]

3 minutes ago, possum1931 said:

I just got money sent from the UK last week, then the pound rises by about 2 Baht

Me Too.

[BritManToo]

44 minutes ago, jackdd said:

Just compare it with other currencies, then you can see the reason.

GBP - EUR and GBP - USD show that GBP got a bit stronger

EUR - THB and USD - THB show that THB also got a bit weaker compared to these currencies.

So two factors came together, GBP got a bit stronger and THB a bit weaker.

Pound and USD have now lost the same amount in the last 3 years ........... 15% (against Thai baht)

Euro has lost 12%, so not much in it between those 3 currencies.

Edited March 2, 2019 by BritManToo

[Farang99]

16 hours ago, nausea said:

Love the timing, end of the month, just right for my pension payment.

Me too, but I am wondering what is behind this gentle climb after the steady decline for the past year or more. It can't be because Britain has resolved its Brexit chaos, because it hasn't.

[Aforek]

euro, 36.17  yesterday, one week ago about, 35.12 

one baht in one week, good !  may be Thai themselves did something , what did they do to make baht weaker ? 

[jonwilly]

When I came to live in Thailand 2001 the £ was B76.

It was over valued following the Asian crash of 1998.

The £ fell to B73 after 3 years and stayed they until the world financial crash of 2008 when the £ settled in mid B50's.

Memory says the £ dropped to around B43 at it's worst until the uncertainties of Bretix when we have seen the £ down to about B38.

I too am looking to check my pensions which will be in my Thai bank on 04th March.

SCB site suggests B40 to £.

For many years the £ was B32 back in the 70/80's.

 

john

[Pilotman]

14 hours ago, AlexRich said:

Whether they are right or wrong remains to be seen, but the rate reflects their opinion on whether hard brexit is good or bad for the UK ... and in their opinion, and mine, it is bad.

 

 

the 2008 banking crisis dispelled any notion that anyone knows anything about the future of world trade, or of national economics. Economists are like fair ground fortune tellers, con artists, and about as accurate.   

[crazykopite]

$ is weak at the moment so the £ gained over all currencies enjoybitvwhike it lasts ????

[steve73]

This is as far as I can go back.. 2008 was the big fall..

[soalbundy]

17 hours ago, sanemax said:

Its debatable as to whether a strong Pound is either good or bad for the UK economy , its beneficial to the UK tourist industry , beneficial for UK exports and may help the UK in its early years of Independence , and it just means that UK retirees in Thailand just need to cut down on their drinking to compensate for the lesser Baht they are now getting

55555555 independence !!!  Like there is a country in the world that is independent, even America has seen the error of its ways in trying to punish China with tarifs.

The Euro has also risen, not just the pound, this has long been foretold, Thailand has to pay out large sums of money to bond holders this month and into April, after which expect the Baht to rise again.

[sanemax]

1 minute ago, soalbundy said:

55555555 independence !!!  Like there is a country in the world that is independent, even America has seen the error of its ways in trying to punish China with tarifs.

The Euro has also risen, not just the pound, this has long been foretold, Thailand has to pay out large sums of money to bond holders this month and into April, after which expect the Baht to rise again.

"Independent " from the E.U. , is what I meant .

[Snow Leopard]

The GBP rise was a news related rise due to Brexit, pretty much across the board on all currencies. There is no such thing as an undervalued or overvalued currency. There is the market, That's it.  

[Rimmer]

A couple of troll posts and replies have been removed

[English Engineer]

THB has weakened probably due to uncertainty with upcoming elections. GBP has strengthened slightly as a softer BREXIT is now likely.

[Fairynuff]

22 hours ago, sanemax said:

Brexiters want UK independence , thinking about the future , rather just about thinking about  todays Pound/Baht exchange rate 

Brexiters want a Little Britain rather than a Great Britain as part of a strong community. Independence or isolation?

[Fairynuff]

3 hours ago, sanemax said:

"Independent " from the E.U. , is what I meant .

Yeah, Britain won’t have to obey the rules it was instrumental in making. True independence for the little englanders 

[sanemax]

Just now, Fairynuff said:

Yeah, Britain won’t have to obey the rules it was instrumental in making. True independence for the little englanders 

Errrrm , No ,the U.K have stated that they will not relax the food standards rules & regulations , although we will be able to change them now , if we want to , we dont have to be told by the E.U what the rules are , we make the rules ourselves now (next month, anyway) 

[Fairynuff]

29 minutes ago, sanemax said:

Errrrm , No ,the U.K have stated that they will not relax the food standards rules & regulations , although we will be able to change them now , if we want to , we dont have to be told by the E.U what the rules are , we make the rules ourselves now (next month, anyway) 

What the UK government says and what they actually do rarely coincide