£ hits new low against the baht

[connda]

24 minutes ago, geoffbezoz said:

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

Show her how to change positions while you're riding. ????

[david555]

1 minute ago, connda said:

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. 

Probably you have those already … as still alive 

[davidst01]

17 hours ago, DrJack54 said:

Again not directly related to this forum

His comment directly relates to this thread and explains why the baht is going up

[evadgib]

38.66 to the pound this morning. 

Roll on 31st October as i'm convinced it will rise again soon after we are unshackled from the EU.

[david555]

3 minutes ago, evadgib said:

38.66 to the pound this morning. 

Roll on 31st October as i'm convinced it will rise again soon after we are unshackled from the EU.

38.66 that must be in U.K. ? as for Thailand deduct some 0.20 of it  most of time that is close to local Thai value 

[joecoolfrog]

16 hours ago, madmen said:

Nothing to do with tourists . Its the massive $220 billion reserves 

That is also only part of the story. Both Brazil and Russia have far bigger foreign currency reserves yet both have seen their own currencies tank in recent years.

[joecoolfrog]

36 minutes ago, evadgib said:

38.66 to the pound this morning. 

Roll on 31st October as i'm convinced it will rise again soon after we are unshackled from the EU.

That depends on if a deal is agreed , no deal will very possibly result in further stagnation of sterling for a considerable length of time.

Many Brexiters claim either that Sterlings demise is a price worth paying , or that in the long run free trade will improve the economy.

Whatever the truth of these claims , and very few economists support them , in the short term , perhaps for up to 5 years , no deal is going to further weaken the pound.

[evadgib]

5 minutes ago, joecoolfrog said:

That depends on if a deal is agreed , no deal will very possibly result in further stagnation of sterling for a considerable length of time.

Many Brexiters claim either that Sterlings demise is a price worth paying , or that in the long run free trade will improve the economy.

Whatever the truth of these claims , and very few economists support them , in the short term , perhaps for up to 5 years , no deal is going to further weaken the pound.

The decline started long before Brexit could be blamed.

[david555]

2 hours ago, evadgib said:

The decline started long before Brexit could be blamed.

Thank you , finally a declaration it is not the E.U. fault …  

[evadgib]

32 minutes ago, david555 said:

Thank you , finally a declaration it is not the E.U. fault …  

I only stated that the start of the decline preceded UK's decision to leave.

Edited June 4, 2019 by evadgib

[Ulic]

20 hours ago, madmen said:

Nothing to do with tourists . Its the massive $220 billion reserves 

Where do you think the reserves come from? 

[mikosan]

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.

Gesendet von meinem SM-N950F mit Tapatalk
 

And when will that be.....................? I reckon I'll have died of boredom before that happens and if not boredom, I'll just not have enough money to live here anyway.  Good times are coming? Not.

 

[Farang99]

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.

Gesendet von meinem SM-N950F mit Tapatalk
 

That's what we all hope for, but the chances of it happening in the near future seem vanishingly small. The main political parties are in disarray, and the Brexit party so far has offered nothing but its single policy - no way to form a government

[Tomahawk21]

On 6/3/2019 at 10:35 PM, 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.

ive been hearing what your saying for years now and nothing changes

[mstevens]

21 hours ago, madmen said:

Not true. Go to the big malls in Bangkok and they are crawling with chinese most carrying shopping bags and many hi so labelled. They are big spenders and most welcome by store owners. There are so many chinese in T21 screaming , yelling lol I stopped going

Agreed. And a lot of restaurants along the busy part of tourist Sukhumvit that used to be full of farangs today welcome many Chinese. Expect trilingual restaurants coming soon as smart operators do everything they can to attract Chinese customers.

[Berkshire]

20 hours ago, Percy P said:

On 6/3/2019 at 10:35 PM, 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.

55555....amazing.  How can guys like mitkof comment on stuff when they're so obviously clueless? 

[toofarnorth]

On 6/4/2019 at 4:05 PM, 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.   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.  

Your last line . NO , ' Where there's a will there are smiling relatives '.

[dallen52]

On 6/4/2019 at 12:51 AM, FritsSikkink said:

The piss poor retirees, don't make much of an impact on the Thai economy.

I used to.

But say 20% less disposable income based on currency plus my partner's 16 year old daughter who just started higher school. 

It's like a double whammy. 

10k less to spend. 

Almost 10k to the daughter. 

Each month. 

 

But we are all having a good time. 

 

Hidee Hi... Hidee Ho.

 

[Delight]

 The Thai Baht is off limits to currency traders.

So that  just leaves trade.

Thailand exports more than it imports -unlike the UK.

The Baht will remain high.

 

 

[blackcab]

An off topic post has been removed.

[mvsaraburi]

Expect it drop significantly more soon.. the tories are likely to elect a hard brexit supporting PM (probably that buffoon johnson) and have just voted against any prevention of a no deal brexit.  i'd move some sterling into a thai baht account now, not 6 months down the line.  

 

(Glad I bought some Gold in Saraburi with Baht last October when it was about 20% cheaper than today's prices.  very little else to cheer up this brit being pummelled over here by the lunacy of brexit)

[beautifulthailand99]

3 hours ago, mvsaraburi said:

Expect it drop significantly more soon.. the tories are likely to elect a hard brexit supporting PM (probably that buffoon johnson) and have just voted against any prevention of a no deal brexit.  i'd move some sterling into a thai baht account now, not 6 months down the line.  

 

(Glad I bought some Gold in Saraburi with Baht last October when it was about 20% cheaper than today's prices.  very little else to cheer up this brit being pummelled over here by the lunacy of brexit)

The Brexiteers over on the Brexit threads are cheering on their demise 'it's not about the money' it's about taking back control.  Maybe 35 will teach them a lesson.

[OJAS]

How soon, I wonder, before one of these:

 

is worth exactly the same as one of these:

 

[KC 71]

The way this is going
Im gonna have to be tighter than a nuns crutch !


Sent from my iPad using Thaivisa Connect

[marko kok prong]

I am actually considering moving some baht to my super account in Aussie,which is performing very well,investment in stocks ,shares ect is a long game,if you can afford not to panic don't.

[SheungWan]

I only stated that the start of the decline preceded UK's decision to leave.

That is not an excuse for the Hard Brexit-charged accelerant on sterling heading south.

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[SheungWan]

^{I am actually considering moving some baht to my super account in Aussie,which is performing very well,investment in stocks ,shares ect is a long game,if you can afford not to panic don't.}

That's a brave call on AUD bottoming out. Personally I wouldn't unless I had some long-term interest/commitment to Australia. Re Sterling I do have that link, but no new money.

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[EricTh]

Thai baht is strengthening against most other currencies as well.

 

It is testing USD at 30, AUD at 20 level soon. 

 

will it break below those levels?

 

Time for some retirees to consider moving elsewhere, Thailand is no longer cheap.

Edited June 24, 2019 by EricTh

[Kalasin Jo]

On 6/5/2019 at 6:35 AM, Berkshire said:

55555....amazing.  How can guys like mitkof comment on stuff when they're so obviously clueless? 

I think he meant baht value of your foreign currency, esp at the moment the British £. 38 baht today.

[kingdong]

On 6/3/2019 at 5:27 PM, 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.

all the thais are doing is pricing theirselves out the market,personally feel anyone investing here long term wants their head examined,pattayas deserted,where are all the big spending chinese?what happened to the hordes of russians you encountered 10 years ago?you can only blow a balloon up so far before it blows up in your boat race.

Edited July 8, 2019 by kingdong
spelling error