£ hits new low against the baht

[scubascuba3]

The 10 million Chinese spend a lot more money in the Thai economy, end of discussion.

and spend in shopping malls and Chinese arranged tours, bulk eating, not smaller places, so who supports them

 

[theoldgit]

15 hours ago, madmen said:

Good time for anybody owning property bought at much better exchange rates to sell. You don't need to make a profit on the property because you will kill it on exchange rates.

All very good in theory, but I don't think there are many people queuing up to buy properties at the moment, there are plenty of houses on the market, and still more are being built, it seems very much to be a buyers market at the moment, though I understand the Chinese may be buying the condos,

I've noticed the number of properties for rent has also been increasing where I live, and it now seems to be a renters market.

I managed to sell a house in 2017, at a small profit, I had it built ten years previously when the GBP was getting about 75 THB, I'd like to claim that it was all planned, far from it though, just sheer luck.

I certainly don't ever plan to buy again.     

[david555]

27 minutes ago, theoldgit said:

All very good in theory, but I don't think there are many people queuing up to buy properties at the moment, there are plenty of houses on the market, and still more are being built, it seems very much to be a buyers market at the moment, though I understand the Chinese may be buying the condos,

I've noticed the number of properties for rent has also been increasing where I live, and it now seems to be a renters market.

I managed to sell a house in 2017, at a small profit, I had it built ten years previously when the GBP was getting about 75 THB, I'd like to claim that it was all planned, far from it though, just sheer luck.

I certainly don't ever plan to buy again.     

Original poster where you reply on forget that those bought in the expensive period , as even the new building craziness was not so overwhelming as last few years …., I think those with those mostly older condos better sell for price they can get easy , as it shall not improve coming years I think , better take small loss than wait for more and loose more ….as it is a buyers (but risky) market

Edited June 4, 2019 by david555

[Denim]

It's been a lot worse . I remember getting only 26. :

 

 

 

 

[david555]

4 minutes ago, Denim said:

It's been a lot worse . I remember getting only 26. :

 

 

 

 

The euro did not existed in 1984 and is on the list , how they calculated that ?

[hobobo]

11 hours ago, Swedenlars said:

I would think once the Brexit turmoil aka chaos is over the £ will get stronger again.

Gesendet von meinem SM-N950F mit Tapatalk
 

"Once" is the operative word. I agree that the £ will get better after the turmoil is over - about 3 years after!

[Denim]

1 minute ago, david555 said:

The euro did not existed in 1984 and is on the list , how they calculated that ?

The bottom section is not relevant.

[Wake Up]

16 hours ago, Swedenlars said:

I would think once the Brexit turmoil aka chaos is over the £ will get stronger again.

Gesendet von meinem SM-N950F mit Tapatalk
 

Why?  Who wants a small island currency that cannot compete with manufacturers in Asia and Brexit caused London to lose profitable banking jobs to NYC, Dublin and Frankfurt. Brexit is a self made disaster. 

[hugh2121]

So, why are prices of imported goods not falling?

Edited June 4, 2019 by hugh2121

[Percy P]

16 hours ago, Mitkof Island said:

Yes the Thai baht value is dropping like a rock. If they don,t turn it around soon they are asking for trouble. Every time it goes down i just spend less.

No No the Thai Baht is not dropping. .Its the value of foreign currency that's dropping.

[JimHuaHin]

" My wife of course does not understsnd why I have significantly less to spend!"

 

I am in the same situation.

 

Arrived 6 years ago when A$1 = 32 Baht.

 

Bought a new car then - about Baht 1 million = A$30,000.  The newer model of the same car still the same price here, but about A$45,000 - a 50% increase.

 

My partner keeps pressuring me to buy a house; but I do not have the money.  "But all the other farangs have the money" say she.

 

What hope is there?!?!??!

[david555]

3 minutes ago, JimHuaHin said:

" My wife of course does not understsnd why I have significantly less to spend!"

 

I am in the same situation.

 

Arrived 6 years ago when A$1 = 32 Baht.

 

Bought a new car then - about Baht 1 million = A$30,000.  The newer model of the same car still the same price here, but about A$45,000 - a 50% increase.

 

My partner keeps pressuring me to buy a house; but I do not have the money.  "But all the other farangs have the money" say she.

 

What hope is there?!?!??!

"My partner keeps pressuring me to buy a house"

 

That is a more worrying factor than the exchange rate problem …..

[Antonymous]

Hang on a minute. Where are all those members who like to post stern warnings like "Never invest in Thailand more than you prepared to walk away from" and simply "Never invest anything in Thailand"?

 

If you had brought your pounds or dollars in when rates were high and invested sensibly here, you'd be laughing now.

 

When I emigrated from the UK to Thailand I did so because I could see more long term opportunity in a growing and dynamic part of the world than in a failing one. And so it came to pass.

 

[Sparkles]

$A dollar dropping like a stone from 32,parity with $US, to today 21.8 baht.You can only cut back on so much.

 

Thai Gov re adusts its predicted unrealistic  growth from 8% to 3 % they obviously dont understand that the inflated value of the baht is sending other countries elsewhere to trade.No mention of storing rice stocks. I bet the warehouses are full again.Vietnam amongst others must be laughing.Thai farmers bear the brunt,nothing new there.

[Sparkles]

14 minutes ago, JimHuaHin said:

" My wife of course does not understsnd why I have significantly less to spend!"

 

I am in the same situation.

 

Arrived 6 years ago when A$1 = 32 Baht.

 

Bought a new car then - about Baht 1 million = A$30,000.  The newer model of the same car still the same price here, but about A$45,000 - a 50% increase.

 

My partner keeps pressuring me to buy a house; but I do not have the money.  "But all the other farangs have the money" say she.

 

What hope is there?!?!??!

Thais understand "coming soon"

[BritManToo]

16 minutes ago, JimHuaHin said:

My partner keeps pressuring me to buy a house; but I do not have the money.  "But all the other farangs have the money" say she.

Suggest she makes a more careful choice next time.

[dinsdale]

All currencies have dramatically weakened against the baht or looking at it another way is the Thai Baht has strenghtened considerably against all major currencies. Not bad for what is extensibly a third world country. Ok fanboys we'll call it developing.

[connda]

17 hours ago, sammieuk1 said:

The penny that used to be a pound finally dropped for my Mrs today and conceded a future moving plan out of this smoke hole is shelved indefinitely

Your Mrs concedes that the value of foreign money is tanking - so plans of leaving 'this smoke hole' which I assume is Northern Thailand is 'shelved indefinitely' meaning she wants to stay in Thailand?
I'm trying to interpreted this.  Because you get less THB for your home currency, she wants to stay in Thailand, preferably in a place with PM 2.5 particulate four months out of the year?  

Humm, interesting view.

[Traubert]

1 hour ago, scubascuba3 said:

and spend in shopping malls and Chinese arranged tours, bulk eating, not smaller places, so who supports them

 

Chinese Tour groups are on the decline now, they've already done it. Many more independent Chinese tourists visiting. They go where they are catered for and it would seem that the clever businesses that do cater for them are booming whereas those in denial are suffering.

[gamini]

16 hours ago, PingRoundTheWorld said:

Brexit of course has something to do with it, but generally the baht has been going stronger against all major currencies over the past 4-5 years. 20% against the Euro, 25-30% against UKP and AUD, and a "modest" 10% against the USD.

 

It goes against common sense due to the political situation, however tourism sharply increased close to 100% over the same time period, and 400% over the last 15 years. A large percentage of the Thai economy currently runs on foreign money buying the baht. Add Chinese and other investors buying property, and of course expats bringing in western salaries, and combine it with the fact Thailand exports more than it imports, and it starts making sense.

 

Sadly, the baht will likely only stop appreciating when it becomes too expensive for tourists to vacation here, retirees to live here, and the strong baht will cripple exports. We're already seeing signs of those though - less tourism this year, retirees who can't afford it leaving, and exporters complaining about the strong baht.

I think it won't affect that many retirees. After all, a lot of sensible ones who really wanted to make Thailand their home would have invested here and bought property. If you are going to live in a country, it is quite wise to have most of your investments there, so you are not affected by exchange rates

About 20 years ago. Or, maybe less. I got 73 bt to the UK pound and put all my money in Thailand. My wife bought a farm and another property which we have sold at a huge profit.

My Thai investments, mostly in Bumrungrad hospitlal and some good ones have profited enormously.

But a lot of retirees have tried to live in two countries at the same time. They always talk about their home country, i.e. the UK. Whereas I consider, and I'm sure a lot of others do, my home country is Thailand. .

Unfortunately, for some if Brexit does happen, even with the deal, the UK pound will go down to around 35, but if there is no deal. I think it will be closer to 29.

[connda]

53 minutes ago, JimHuaHin said:

" My wife of course does not understsnd why I have significantly less to spend!"

 

I am in the same situation.

 

Arrived 6 years ago when A$1 = 32 Baht.

 

Bought a new car then - about Baht 1 million = A$30,000.  The newer model of the same car still the same price here, but about A$45,000 - a 50% increase.

 

My partner keeps pressuring me to buy a house; but I do not have the money.  "But all the other farangs have the money" say she.

 

What hope is there?!?!??!

I bought a new car for under 400,000 THB.  I'm sure my car gets me from point A to point B just like your 1,000,000 THB car.   It looks to me that neither of you understand how to economize. I'm not criticizing but just observing.  I don't try to 'keep up with the Prayuts or the Prawits" therefore I have more disposable income which I tend to save for a rainy day.  My guess is your wife needs an expensive house instead of simply buying land, putting a dwelling you can afford on the land, and then over time develop the premises as you have additional funds.  Ok. Many guys with Thai wives end up providing their wives or Gfs with status at a cost.  But screw status.  
Imho - it's unwise.  You can live a good life while economizing.  But some people can't. 

So given the same 1,000,000 THB, I could buy a car, buy some land in our village, and put a dwelling on it that could be modified and expanded in the future.  

"if there is a will, there a way."  But immensely more difficult for those who need 'stuff' and status.  

Edited June 4, 2019 by connda

[Laza 45]

17 hours ago, Kalasin Jo said:

The € is pretty steady

The UK currency is going down because of the Brexit fiasco.. the prospect of a 'no deal' and a looming election...  The Bt is strong because it is seen a safe haven with positive although low interest rates and a stable  (so far economy).. this has brought in huge inflows of foreign currency ..keeping the Bt high.. Unless the Thai economy takes a serious hit with exports it will remain this way.. The UK needs to get Brexit solved and an election out of the way to get market stability and stability with its currency.  This link explains it a bit better.. https://www.poundsterlinglive.com/eur/11431-record-lows-pound-to-euro-exchange-rate-forecast/amp?fbclid=IwAR0r-_Hv4CULlZ9lDGZ60bDTlOA0DbF97iU4Frumg7dXwe8_9CpprZhVV1o

 

[BritManToo]

14 minutes ago, connda said:

I bought a new car for under 400,000 THB.  I'm sure my car gets me from point A to point B just like your 1,000,000 THB car. 

I bought a secondhand scooter for 13k, I'm sure it gets me from A to B as well as your car, and uses less fuel as well.

If the pound gets to 35bht, the gf will be history, essentially doubling my 'pound' income.

And I'll be OK again until it dips below 25bht to the pound. 

Edited June 4, 2019 by BritManToo

[geoffbezoz]

12 minutes ago, BritManToo said:

I bought a secondhand scooter for 13k, I'm sure it gets me from A to B as well as your car, and uses less fuel as well.

If the pound gets to 35bht, the gf will be history, essentially doubling my 'pound' income.

And I'll be OK again until it dips below 25bht to the pound. 

Yeah but on a 500 km journey on your scooter your bum will be sore going from A to B.

[BritManToo]

3 minutes ago, geoffbezoz said:

Yeah but on a 500 km journey on your scooter your bum will be sore going from A to B.

Bus tickets are cheap.

Doubt I ever drive more than 40Km, and that's usually on a bicycle.

I never transport women around, there always seems to be plenty already there, wherever I go.

Edited June 4, 2019 by BritManToo

[connda]

3 minutes ago, BritManToo said:

I bought a secondhand scooter for 13k, I'm sure it gets me from A to B as well as your car, and uses less fuel as well.

If the pound gets to 35bht, the gf will be history, essentially doubling my 'pound' income.

And I'll be OK again until it dips below 25bht to the pound. 

Dude, send  me pictures of you and the girl-friend driving 500 km cross-country on a vacation on that 13k THB scooter.  <laughs>  Personally, my 'boyz' go numb after about 35 km.  I like the car much better! 

[geoffbezoz]

3 minutes ago, BritManToo said:

Bus tickets are cheap.

Doubt I ever drive more than 40Km, and that's usually on a bicycle.

I never transport women around, there always seems to be plenty already there, wherever I go.

That's good. My wife complains her bum is sore even after a short ride ????

[david555]

1 hour ago, BritManToo said:

Suggest she makes a more careful choice next time.

Or he.. before ….!

Edited June 4, 2019 by david555

[Kalasin Jo]

On 6/3/2019 at 10:49 PM, Swedenlars said:

I would think once the Brexit turmoil aka chaos is over the £ will get stronger again.

 

Only if Brexit is cancelled. The money markets have been very clear about this for the last 3 years.

[connda]

24 minutes ago, BritManToo said:

Bus tickets are cheap.

I used to take a bus between CM and Korat every 6 weeks for work. I'd need a Rosary, St Christopher medal, and a dozen Buddhist amulets,  before I get on another Thai inter-provincial bus.