Expats feeling the pinch as GBP sinks to an all time low against the THB

[JamJar]

15 minutes ago, tracy3eyes said:

Fully agree! I am retired from the Corp world but now run The Med Syndicate, a Spanish property Investment Syndicate and our member investors (Up to 10 now) are very positive about post BREXIT and the opportunities that are already presenting themselves to us. And we for-see a good outlook going forward 2020.

 

A shame that there isn't a puke emoticon.

[dunroaming]

1 minute ago, cvs04 said:

Investors don't like uncertainty, it's not the Brexit itself it's the clowns in Westminster taking 3 years to implement it!

Partly true and it is the uncertainty.  But uncertainty about what?  The uncertainty about the effects of Brexit on business and the economy.  Uncertainty about the probable dire effects that leaving with no deal would have on the economy.

[gearbox]

2 minutes ago, moskito said:

you really think thats the only thing EUROLAND has to worry about?

 

Allahahhahahahahha ... what did you expect when you fall back to your CommonWEALTH dreams? England is by far not more important for Europe as Litavia or Luxembourgh... Whoever in Europe is not playing MERKELS game is playing no game at all anymore ????  sad but true

Ditto. The car manufacturing is going to be decimated the same way as in Australia. All decisions for that will be made offshore as the Brits don't own any car brand now.

[Percy P]

4 minutes ago, denby45 said:

It's mainly the uncertainty that Brexit is bringing and not Brexit itself. If the remoaners hadn't scuppered the divorce then we would already have had hit bottom and been well on the way to recovery by now. 

 

Den

I put it down to ex PM. She was a remainer and held Brexit back. Her plan was defeated 3 times but still tried to get it trough .

Edited July 30, 2019 by Percy P

[totally thaied up]

2 minutes ago, gearbox said:

AUD and GBP are going down the drain. Ponzi real estate economies. You think it is only THB, but look at MYR, VND, SGD, IDR.... more or less the same story. I will budget for AUD sub 20 Baht in the coming year or two. 

I agree. I am preparing for sub 20. Our Government wants a weak dollar and that is what we are going to have for a very long time.

[Tuvoc]

Britain is going to power ahead after Brexit in the long term, I have no doubt about that. We just have to wait it out, good times are coming! 

[david555]

4 minutes ago, bkk6060 said:

Going to 29.

Anybody staying?

Yes but those not foreign money dependent I guess 

[MrMo]

All time low ?   Rubbish !   I recall visiting Thailand in the 80s when the rate was around 31 (The Baht was around 27 to the US Dollar and the Pound around 1.1 - work it out).   For a lot of the time from then until shortly before the Baht crashed in late 1990s anywhere in the 30s to 40 and a bit was a good rate.

Edited July 30, 2019 by MrMo
Forgot which website I was on.

[marcusarelus]

27 minutes ago, Rawairat said:

Apparently Thailands largest export market for cars is Australia, that must eventually affect those sales. The much vaunted FTA in  2016 does not seem to have made Australian products any cheaper in Thailand?

 

 

Edited July 30, 2019 by marcusarelus

[Percy P]

2 minutes ago, Tuvoc said:

Britain is going to power ahead after Brexit in the long term, I have no doubt about that. We just have to wait it out, good times are coming! 

Yes well said, I'll stick it out too. 

[dave moir]

3 hours ago, Xaos said:

Brits still thinks european immigrants will be gone after brexit. 

No just won't have the EU telling us how many we have to take! Those that are in the uk already will more than likely be able to stay but at least we will have a say as to who enters the UK after brexit

[DoctorG]

How are you guys explaining to your Thai wives that there just isn't the same money available as before?

[Joe Mcseismic]

Wonder how many British retirees who refused to put 800k Baht into a Thai bank because they didn't think it was "safe" are now kicking themselves?

[gearbox]

4 minutes ago, MrMo said:

All time low ?   Rubbish !   I recall visiting Thailand in the 80s when the rate was around 31 (The Baht was around 27 to the US Dollar and the Pound around 1.1 - work it out).   For a lot of the time from then until shortly before the Baht crashed in late 1990s anywhere in the 30s to 40 and a bit was a good rate.

Maybe, but my gf in these years was in primary school, she said she was given 2 baht per day to eat at school and it was enough. Try to get something today for 2 baht.

[dunroaming]

2 minutes ago, MrMo said:

All time low ?   Rubbish !   I recall visiting Thailand in the 80s when the rate was around 31 (The Baht was around 27 to the US Dollar and the Pound around 1.1 - work it out).   For a lot of the time from then until shortly before the Baht crashed in late 1990s anywhere in the 30s to 40 and a bit was a good rate.     Another example of reporting in the "paper you can trust".

How is that relevant to the fall in the pound today?  When I lived in Thailand (1997 to 2011)  the pound varied from about 65 to 75.  That hasn't got anything to do with what is happening today either.  We live in the present and the baht/sterling exchange rate is hurting the ex-pats now.

[Chivas]

1 minute ago, DoctorG said:

How are you guys explaining to your Thai wives that there just isn't the same money available as before?

decree nisi

[bkk6060]

A great depression is coming to the UK and they will be begging the Americans to bail them out again.

[Percy P]

8 minutes ago, dunroaming said:

Partly true and it is the uncertainty.  But uncertainty about what?  The uncertainty about the effects of Brexit on business and the economy.  Uncertainty about the probable dire effects that leaving with no deal would have on the economy.

I'm English .We don't want a deal that keeps us attached to the EU which the ex PM deal did.

[david555]

10 minutes ago, JamJar said:

 

A shame that there isn't a puke emoticon.

Please ….

 

[marcusarelus]

10 minutes ago, Tuvoc said:

Britain is going to power ahead after Brexit in the long term, I have no doubt about that. We just have to wait it out, good times are coming! 

I agree China will buy Australia and the UK and the money will flow in.  I'd think they will even let you keep the English language.  

[Tropposurfer]

Try 21 baht to the dollar and see how that feels !!!

[dave moir]

IMO the baht is being kept strong by the banks so as to be able to purchase submarines tanks planes etc on the cheap from other countries! 

[Percy P]

31 minutes ago, PremiumLane said:

and in a nutshell you have summed up Brexit.

Everything will be better after Brexit!!! 

OK, how?

I can't tell you, it just will be.

I'll do everything possible to advance it . 

[gearbox]

6 minutes ago, Joe Mcseismic said:

Wonder how many British retirees who refused to put 800k Baht into a Thai bank because they didn't think it was "safe" are now kicking themselves?

 

800k Baht is small amount of money by the western standards, if they need to kick themselves for that, they seem to have way bigger problems... 

[swellbelly]

It is not an all time low. I remember changing sterling at Standard Chartered in Phuket in 1983 and got a rate of 29.. something.

[Seismic]

14 minutes ago, MrMo said:

All time low ?   Rubbish !   I recall visiting Thailand in the 80s when the rate was around 31 (The Baht was around 27 to the US Dollar and the Pound around 1.1 - work it out).   For a lot of the time from then until shortly before the Baht crashed in late 1990s anywhere in the 30s to 40 and a bit was a good rate.

Yep, fully agree 1984-85 I remember rates of 31-33 baht to the Pound, so the article is obviously not very well researched.

[PremiumLane]

10 minutes ago, dave moir said:

No just won't have the EU telling us how many we have to take! Those that are in the uk already will more than likely be able to stay but at least we will have a say as to who enters the UK after brexit

Except that is not true, as part of the EU each country has the right to set its own immigration controls. But don't let facts get it the way of emotions, right?

[Percy P]

1 minute ago, dave moir said:

IMO the baht is being kept strong by the banks so as to be able to purchase submarines tanks planes etc on the cheap from other countries! 

Silly reply. The Baht is strong against western currencies because they have no value. Nothing to do with the Bank . Silly and demand.The more tourists there is the more the demand.Simple.

[dunroaming]

3 minutes ago, Percy P said:

I'm English .We don't want a deal that keeps us attached to the EU which the ex PM deal did.

Totally get that.  I am English too and of course we are both Europeans as well.

 

I get leaving the EU as well but by doing so we have to accept the disruption and economic consequences of that.  A deal would soften the effect but requires compromise.  Leaving without a deal will cause more damage in the short term, however long that turns out to be?  And of course that adds to the uncertainty.  If you run a business in the UK you cannot just "wait and see".

[Chivas]

3 minutes ago, Percy P said:

Silly reply. The Baht is strong against western currencies because they have no value.

Baht is strong against the USD because Thailand is sitting on $215 Billion of foreign currency reserves growing at $2 Billion a month