Exchange Rate !!!!

[sanemax]

2 minutes ago, Mark1066 said:

So now you’re changing your comment to say that after it had already dropped 8% in a day, it remained quite stable? (It didn’t do that either: by the 6th July, it had dropped nearly another 900 pips.)

No, that was my original comment .

I shall go and refresh it, so that you can read it again 

[sanemax]

2 hours ago, sanemax said:

The Pound remained quite stable in the days after Brexit and only began to lose once it became apparent that the Uk Gov had no idea how to proceed and didnt know what to do 

"Days after Brexit" , as in from the following Monday  , the Pound remained quite stabler untill the end of the year

[Mark1066]

10 minutes ago, sanemax said:

No, I did mean after it fell by 8 % , the following Monday the Pound was 46 Baht and stayed around that mark for the next few months , remaining stable 

Never mind what the baht was doing, by the 6th July GBP had reached 1.2795 against the USD so it wasn’t stable after the day of the results either. The thing is, you’re trying to argue that it’s the uncertainty that has caused the devaluation and not the actual decision, and an 8% drop in less than 24 hours, on the day the results were announced, disproves your theory I think. Uncertainty doesn’t help of course - it’s keeping the GBP low at the moment - but that massive daily drop was the markets’ reaction to Britain’s decision to leave the EU, not to any uncertainties.

Edited July 21, 2019 by Mark1066

[seasia]

Just now, sanemax said:

The Pound remained quite stable in the days after Brexit and only began to lose once it became apparent that the Uk Gov had no idea how to proceed and didnt know what to do 

No it did not remain stable.

There was an immediate fall.

 

I happened to be looking at a 5 year chart.

Look at the GBP drop when a referendum was announced followed by a further fall on the result.

 

Old stock exchange saying " The only truth is the tape "

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=5Y

[sanemax]

1 minute ago, seasia said:

No it did not remain stable.

There was an immediate fall.

 

I happened to be looking at a 5 year chart.

Look at the GBP drop when a referendum was announced followed by a further fall on the result.

 

Old stock exchange saying " The only truth is the tape "

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=5Y

The Pound remained stable for a few months after the Brexit vote , After , AFTER , After the Brexit vote .

Stable AFTER the Brexit vote  .

After, as in after the immediate fall 

[sanemax]

24 minutes ago, Mark1066 said:

Never mind what the baht was doing, by the 6th July GBP had reached 1.2795 against the USD so it wasn’t stable after the day of the results either. The thing is, you’re trying to argue that it’s the uncertainty that has caused the devaluation and not the actual decision, and an 8% drop in less than 24 hours, on the day the results were announced, disproves your theory I think. Uncertainty doesn’t help of course - it’s keeping the GBP low at the moment - but that massive daily drop was the markets’ reaction to Britain’s decision to leave the EU, not to any uncertainties.

You seem to be agreeing with me .

Its the uncertainty that caused the Pound to drop from 45 Baht (which was the rate six months after Brexit) , to 38 , which it is today .

Whats that,  a further 20 % ish drop  , which has been caused by the uncertainty 

[Isaanbiker]

The Euro is currently on around 34,57 baht.

 

When the "Germans decided" ( nobody was asking me though) that they wanted to have the Euro, the exchange rate to the dollar was around 1 Euro being $ two.

 

    My family had sent me some cash a few years ago and I got around 56,000 baht for 1,000 Euros.

 

Unfortunately, are 1,000 Euros now only 34,576 baht.

 

That can't go on forever and I'm certain that the Thai baht will drop down again soon. But when? 

 

[Isaanbiker]

3 minutes ago, sanemax said:

You seem to be agreeing with me .

Its the uncertainty that caused the Pound to drop from 45 Baht (which was the rate six months after Brexit) , to 38 , which it is today .

Whats that,  a further 20 % ish drop  , which has been caused by the uncertainty 

You're not alone. Just look at all the Euro zones, it really suc_s to make a holiday in Thailand now.

 

No wonder that people go to other places where they get something for their hard earned money. 

[HeyHeyHey]

6 hours ago, ianezy0 said:

Australia dropped from 30+ to 25.

Let me offer you a deal... I'll sell you truckload of AUD for 23.5, we all make money! ????

[White Christmas13]

6 hours ago, ianezy0 said:

Not disagreeing here but a lot of currency dropped against the THB around that time, i.e. Australia dropped from 30+ to 25. So was Brexit the reason? Interesting topic.

now just barely above 20 baht

[White Christmas13]

5 hours ago, steven100 said:

yes … totally agree, these guys see the AUD & GBP fall 10-20% and all of a sudden it's posts about going back home.

Well sorry but a house only costs 500k-1 mil to build in Thailand, in Australia and I expect the UK you are lucky to get a garden shed for that,  a taxi can take you 20kms for $10.... food at the markets is still way cheaper than Australia. Oh and the government will tax you as much as they can, and you will need  a licence to fart … well in Auss you just about do.

No thank's …. they can have both those miserable shitholes... lol 

 

 

you're a sick person, how much pension you get in Thailand how can you compare

the living cost in Thailand if you are receiving the pension from the west

Thai people do not receive a pension apart from a few government workers

another one on my ignore list

[dimitriv]

3 hours ago, sanemax said:

Its the uncertainty that caused the Pound to drop from 45 Baht (which was the rate six months after Brexit) , to 38 , which it is today .

Whats that,  a further 20 % ish drop  , which has been caused by the uncertainty 

 

In this period it became clear that there is a very big chance for a no deal Brexit. The drop is caused by the expectation that the British economy will collapse if they leave the EU without a deal. So it is not uncertainty. The exchange rate is based on supply and demand, and many people want to get rid of their pounds because they expect that the rate will drop even more later. 

 

[jastheace]

baht is strong against all currencies. just face facts. unlucky if you happen to have a suitcase full of roubles though, any Brits reading this, check out the link, and think, could be worse, could come from ------. https://www.xe.com/currencycharts/?from=RUB&to=THB&view=10Y

 

[dimitriv]

3 hours ago, Isaanbiker said:

You're not alone. Just look at all the Euro zones, it really suc_s to make a holiday in Thailand now.

 

Not only holiday. I am surprised by the prices in Bangkok if I compare them with the Netherlands. Sure, food on the street is cheaper. Taxis are cheaper.  But things like daily groceries I buy at the Tesco-Lotus or Big C (I like to cook myself) are almost twice of what I pay in my home country. Some Thai people said that this is because I buy imported things. But when I get my income in Euros and buy imported things Thailand pays for in foreign currency there is no reason why things must be twice the price of what I pay in my home country. This can only be caused by an inefficient way of working, lack of competition and/or pure greed.

 

A week ago I was in Patong where I paid 120 baht for a Coke Zero. The same can that costs 12 baht at the 7/11. In my country the differences in prices are not that big. Even when you go to the more expensive places they don't ask 10 times the price for a Coke. No nightclub will survive when asking 10 Euro for a Coke Zero.

 

We can of course complain about the exchange rates. But there is more. I think there is a lot of greed, and a lot of prices in Thailand are unreasonable and inexplicable high. And I think there is also something wrong with how the Thai economy works.

 

[Naam]

10 hours ago, sanemax said:

The Pound remained stable for a few months after the Brexit vote , After , AFTER , After the Brexit vote .

Stable AFTER the Brexit vote  .

After, as in after the immediate fall 

give us a break man, show some character and stop presenting ridiculous arguments. we all make mistakes. there's nothing wrong to admit when it happened.

[Naam]

10 hours ago, Isaanbiker said:

When the "Germans decided" ( nobody was asking me though) that they wanted to have the Euro, the exchange rate to the dollar was around 1 Euro being $ two.

 

My family had sent me some cash a few years ago and I got around 56,000 baht for 1,000 Euros.  

-EUR THB best rate was 53.54 for a couple of days july11-july13, 2008

 

-EUR USD all time high of 1.5973 was in April 2008 (for a few days).

 

-at EUR physical inception jan2001 one EUR bought 0.951, i.e. "1 Euro being $ two" = fairy tale.  

 

 

[Mark1066]

15 hours ago, sanemax said:

You seem to be agreeing with me .

Its the uncertainty that caused the Pound to drop from 45 Baht (which was the rate six months after Brexit) , to 38 , which it is today .

Whats that,  a further 20 % ish drop  , which has been caused by the uncertainty 

You’re beyond help I think. I said the uncertainty of what is going to happen has ensured that it doesn’t go up, I didn’t say the uncertainty sent it down. In other words, positive economic data releases are not lifting the pound because the market is still pricing in the possibility of a no-deal exit. It is the potential for economic damage that is the salient factor here. In other words, leaving the EU will damage the UK economy and that is why the pound is low. You haven’t explained why you think a near 900-pip drop between the 27th June and the 6th July 2016 demonstrates a stable exchange rate. You conveniently ignored that part of my post it seems.

Edited July 22, 2019 by Mark1066

[sanemax]

7 minutes ago, Mark1066 said:

You’re beyond help I think. I said the uncertainty of what is going to happen has ensured that it doesn’t go up, I didn’t say the uncertainty sent it down. In other words, positive economic data releases are not lifting the pound because the market is still pricing in the possibility of a no-deal exit. It is the potential for economic damage that is the salient factor here. In other words, leaving the EU will damage the UK economy and that is why the pound is low. You haven’t explained why you think a near 900-pip drop between the 27th June and the 6th July 2016 demonstrates a stable exchange rate. You conveniently ignored that part of my post it seems.

I have tried to explain about five times already .

From the following Monday after Brexit , the Pound remained stable for the rest of the year , six months .

The Pound began its decline when it became clear that the UK wouldnt be leaving the EU any time soon .

All the losses from the Brexit vote were realised in the few days after the vote 

[sanemax]

5 hours ago, Naam said:

give us a break man, show some character and stop presenting ridiculous arguments. we all make mistakes. there's nothing wrong to admit when it happened.

Are you suggesting that the Pound fell by 25 % on the few days after the Brexit vote ?

[fishtank]

Sterling declined the day after the advisory poll 3 years ago.

The nonsence should have been stopped there and then.

[worgeordie]

I suspect "Speculators" have a lot to do with whats

happening with Sterling and the Au$, they dont produce

anything,can cause a lot of damage.and can easily

earn lots of profit manipulating currencies.

regards worgeordie

[phka]

19 hours ago, sanemax said:

Yes, the Pound fell when the UK didnt leave the E.U three years ago .

The financial markets hate uncertainty  and the UK not leaving the EU on the day after the Brexit vote has caused the Pound to fall 

And if they did leave the EU it would have dropped a lot quicker

[bkk6060]

1 hour ago, sanemax said:

Are you suggesting that the Pound fell by 25 % on the few days after the Brexit vote ?

You continue to suggest it is down due to Brexit.

Which is false, as all major currencies have taken the dive practically simultaneously.

Sorry, but Brexit and your precious pound do not make the world go round.

But if it makes you feel smart, then keep believing it.

[dimitriv]

2 hours ago, sanemax said:

The Pound began its decline when it became clear that the UK wouldnt be leaving the EU any time soon .

 

The pound began its decline when it became clear that there is a big chance for a no deal brexit ????

 

[jcowle]

20 hours ago, Mark1066 said:

The pound fell when the UK decided to leave because markets believe it will damage the economy. It didn’t fall because the UK didn’t leave immediately.

correct

[Sticky Wicket]

19 hours ago, Naam said:

no Brexiteer fairy tales please. the Pound fell vs. Thai Baht immediately 10% after the referendum.

 

The reason it dropped so much is because Remain was a huge favourite to win. 

When the London exit polls were released it was 10/1 on i.e. put 10 pounds on to win 1.

Therefore that caused the huge overnight drop.

I was selling a condo in Thailand the week after so I pretty much cheered it on. Sent all the money back to Blighty and made a few quid as I'd bought it at 65/66

[alanrchase]

21 hours ago, sanemax said:

The Pound remained quite stable in the days after Brexit and only began to lose once it became apparent that the Uk Gov had no idea how to proceed and didnt know what to do 

23 June 16, 52 baht, 07 July 16, 45.5 baht. Not exactly very stable in the days after the vote

[NightSky]

This thread is 3 years too late (It all began in FEB/MARCH 2016)

[hansnl]

21 hours ago, fishtank said:

Low sterling because of the Brexit nonsense.

Scraping it will help the pound a bit.

 

Also the Baht just keeps getting stronger for some reason nobody can understand.

The last is certain.

However, one thing is undeniable, the big time money gamblers use anything to have profits, and as those profiteers decided that Asia is probably most profitable now and later, anything will be done to fulfill that idea.

Remember Soros and the pound.....

Edited July 22, 2019 by hansnl

[jimn]

22 hours ago, sanemax said:

Yes, the Pound fell when the UK didnt leave the E.U three years ago .

The financial markets hate uncertainty  and the UK not leaving the EU on the day after the Brexit vote has caused the Pound to fall 

Wrong. The pound fell because the UK voted to leave the EU, not because we didnt leave.