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

[SteveK]

2 minutes ago, Andrew65 said:

The Euro is down 12% to the Baht in 1Y.

It's frankly amazing that so many tourists are still coming.

[Angry Dragon]

27 minutes ago, Isaan sailor said:

Bank of Thailand keeps high interest rates, to continue attracting foreign hot money.  And it looks like many share the hot money spoils.  They promised to help—but it didn’t work. Say adios to tourism and exports, BoT.

No, they keep interest rates high because unemployment is 1% and the economy is still growing nicely (compared to the UK US and Euroland).  Not everything is about you (attracting your foreign hot money).

[gearbox]

7 minutes ago, Snow Leopard said:

Well said. The dollar will crash big time, Caused by the FED and QE. They have tried to get back some of the $4 Trillion they printed but cannot do it. The moment they raised interest rates in 2018 Wall Street started to slide. A massive crash is on the horizon that will make 2008 look like a storm in teacup. 

 

A Bank can be bailed out by Wall Street. Wall Street can be bailed out by the FED. The big question is, Who is going to bail out the FED. $ Bills are only paper and backed by nothing only confidence. 

The world is getting much less predictable. Today you may be rich or OK, and tomorrow may wake up poor. Live well every day and remember - every beer you have consumed, and every girl you s.....d ....these are things nobody can take back from you anymore ????

[marcusarelus]

2 minutes ago, SteveK said:

It's frankly amazing that so many tourists are still coming.

The Chinese are not effected by Farang uninformed comments.  

[NightSky]

6 hours ago, PremiumLane said:

What you get when the nation (UK) gets hoodwinked and taken over by a bunch of right wing lunatics, who have no idea what they are doing and rely solely on hyperbole, bluster and outright bs

 

It all stems back to David Cameron making a very bad and flippant decision to call a referendum, thinking everyone would vote remain.

 

The GBP exchange rate has been in pieces ever since the vote. Whoever is responsible for allowing Brexit uncertainty to linger on for 3 years should be tried for treason.

 

It should have been IN or OUT of the EU within 12 months - no if/and or buts.

 

What a bunch of clowns in charge, however they are probably least affected by the exchange rates so all they care about is maintaining power.

[Thaidream]

5 minutes ago, Snow Leopard said:

Well said. The dollar will crash big time, Caused by the FED and QE. They have tried to get back some of the $4 Trillion they printed but cannot do it. The moment they raised interest rates in 2018 Wall Street started to slide. A massive crash is on the horizon that will make 2008 look like a storm in teacup. 

 

A Bank can be bailed out by Wall Street. Wall Street can be bailed out by the FED. The big question is, Who is going to bail out the FED. $ Bills are only paper and backed by nothing only confidence.

The US Dollar will never crash as it would cause a Worldwide depression that would bankrupt the World.  The US Central Bank will soon lower interest rates  and if it needs to recover money from QE it will print more money causing inflation which is what it actually wants. 

If  there was a Dollar crash all the paper that China ; Japn and the UK are holding would be worthless.  The World economies are now so intertwined that  when the US sneezes it catches cold in China and Bangkok.

 

The issue is why is the Thai Baht so strong and will it decline. IMO it  will decline if their GDP is affected; the export market falls by a large percentage and the balance of payments are affected causing a decrease in foreign reserves.  A change in Goverment either by an election or a coup will also cause a Baht decline.

[Angry Dragon]

4 minutes ago, SteveK said:

It's frankly amazing that so many tourists are still coming.

Not really.  By some measures (the big mac index) the Baht is still 30% undervalued against the USD.  Tourists still get a decent value for their money, even if it's less of a value than before.

[marcusarelus]

13 minutes ago, Snow Leopard said:

Well said. The dollar will crash big time, Caused by the FED and QE. They have tried to get back some of the $4 Trillion they printed but cannot do it. The moment they raised interest rates in 2018 Wall Street started to slide. A massive crash is on the horizon that will make 2008 look like a storm in teacup. 

 

A Bank can be bailed out by Wall Street. Wall Street can be bailed out by the FED. The big question is, Who is going to bail out the FED. $ Bills are only paper and backed by nothing only confidence. 

The first time I heard that was on Thaivisa in 2004 and I have read it 1326 times since.  You are just wrong.  No other way to say it.  If you have any valid sources to back up your outlandish claims feel free to post them.

[Andrew65]

2 minutes ago, SteveK said:

It's frankly amazing that so many tourists are still coming.

I'll be there in 2 weeks time, but I have a lot of Baht in Bangkok Bank to transfer out, but I'm waiting until October 31st to see what happens with the £ then.

The thing with Indians & Chinese, the new tourists, for one thing Thailand isn't a long-haul destination/expensive flight. The other thing being, they don't remember the times when the Baht was much weaker, cos they weren't in Thailand then.

 

Also, Thais buying property & investing overseas are onto a winner. Lots of them will be buying property in London, LA, Germany etc.

[hotchilli]

More reasons why Brits will not be holidaying in Thailand anytime soon.

[Angry Dragon]

1 hour ago, JamJar said:

 

Talk about missing the point. It's at an all time low in value against the baht.

 

When you were getting 29 baht to the Pound in 1983, you were paying 5 baht for a one plate meal. Now you pay 40 to 50 baht for the same meal.

lol, he's not missing the point.  In 1983, your fish and chips in the UK likely cost a fraction of what it costs today.  If you're saying that inflation has hit Thailand more than the UK over the past 36 years you might have a point, but I don't think that's what you're getting at.

[Ron jeremy]

6 hours ago, Dmaxdan said:

There are many ways of stretching money to make it go further. You just need to learn and adapt...or go home. Whinging solves nothing.

Adapt by buying beer from 7/11 and eating 40 baht meals.

like the rest of the expats enjoying their retirement in pattaya.

[marcusarelus]

1 minute ago, Andrew65 said:

I'll be there in 2 weeks time, but I have a lot of Baht in Bangkok Bank to transfer out, but I'm waiting until October 31st to see what happens with the £ then.

The thing with Indians & Chinese, the new tourists, for one thing Thailand isn't a long-haul destination/expensive flight. The other thing being, they don't remember the times when the Baht was much weaker, cos they weren't in Thailand then.

 

Also, Thais buying property & investing overseas are onto a winner. Lots of them will be buying property in London, LA, Germany etc.

If you are going to transfer baht to pounds don't do it this year.  It will be a lot higher next year and for the next 9 years following that.  I'd suggest 2030 for a starting point and then only 10% at a time.  Why listen to me?  I transferred all my USD and Aussie dollars to baht in 2005.  

[RichardColeman]

49 minutes ago, john west said:

That is not easy for sure and that much. You very lucky if you can.

Don;t see why, she got more than that working gate security in emergency

[Andrew65]

1 minute ago, marcusarelus said:

If you are going to transfer baht to pounds don't do it this year.  It will be a lot higher next year and for the next 9 years following that.  I'd suggest 2030 for a starting point and then only 10% at a time.  Why listen to me?  I transferred all my USD and Aussie dollars to baht in 2005.  

This is money that I've been living on for many years now, I need to transfer some out soon, although if I leave some until after Oct 31st, that'll be OK.

 

I left Thailand last year after 20 years there, now living back in the UK.

[The Maltese Falcon]

As I understood on the telly that the pound is diving down so these companies that are leaving the uk after brexit will have a rough ride on the exchange rate

[Snow Leopard]

8 minutes ago, Thaidream said:

The US Dollar will never crash as it would cause a Worldwide depression that would bankrupt the World.  The US Central Bank will soon lower interest rates  and if it needs to recover money from QE it will print more money causing inflation which is what it actually wants. 

If  there was a Dollar crash all the paper that China ; Japn and the UK are holding would be worthless.  The World economies are now so intertwined that  when the US sneezes it catches cold in China and Bangkok.

 

The issue is why is the Thai Baht so strong and will it decline. IMO it  will decline if their GDP is affected; the export market falls by a large percentage and the balance of payments are affected causing a decrease in foreign reserves.  A change in Goverment either by an election or a coup will also cause a Baht decline.

Total nonsense. That is exactly what is going to happen. A massive depression. The US$ is propped up by nothing but fresh air and one day the whole house will come crashing down. Every currency that ever existed has crashed when it is backed by nothing. 

[fforest1]

13 minutes ago, Andrew65 said:

I'll be there in 2 weeks time, but I have a lot of Baht in Bangkok Bank to transfer out, but I'm waiting until October 31st to see what happens with the £ then.

The thing with Indians & Chinese, the new tourists, for one thing Thailand isn't a long-haul destination/expensive flight. The other thing being, they don't remember the times when the Baht was much weaker, cos they weren't in Thailand then.

 

Also, Thais buying property & investing overseas are onto a winner. Lots of them will be buying property in London, LA, Germany etc.

Yea my girlfriends Som-tam cart lady has been looking to buy some property on Kings-road in London....

[Snow Leopard]

10 minutes ago, marcusarelus said:

The first time I heard that was on Thaivisa in 2004 and I have read it 1326 times since.  You are just wrong.  No other way to say it.  If you have any valid sources to back up your outlandish claims feel free to post them.

Fair enough. You have your opinion, I have mine. The world is a different place since 2004. 

[Surasak]

6 hours ago, shackleton said:

I have already mentioned before about Brexit  not going to be a good thing  for the UK

especially the exchange rate for expats here ( Pensions ect )  in Thailand and else where 

The people of the UK voted  to come out of the EU

Boris has promised to get us out by the 31st October with a deal or no deal

expect worse for the pound sterling in the near future 

 

You may well be right shackleton, but lets pretend for a moment. In 2 years time the pound will have clawed it way back up and you won't know what to do with all that money. Unless of course Corbyn gets the keys to Number 10, and the UK becomes a basket case.

[Joinaman]

6 hours ago, PremiumLane said:

What you get when the nation (UK) gets hoodwinked and taken over by a bunch of right wing lunatics, who have no idea what they are doing and rely solely on hyperbole, bluster and outright bs

was this the same right wing lunatics who lied and cheated us to join the Common Market, not the EU ?

[British Bulldog]

Ha ! Big Oud & Co. will be pleading with foreigners NOT to leave the country at various airports, rather than take pride in kicking them out because of overstays ....

[sawadee1947]

6 hours ago, Xaos said:

Brits still thinks european immigrants will be gone after brexit. 

Fantastic. NHS without Continentals.... 5555. Hopefully there will be one left to switch off the lights! ????

[sawadee1947]

5 hours ago, Gecko123 said:

I'm not British, but after watching his performance during his initial presentation to parliament and observing his general buffoonry and orangutan-like body language, I was left quite speechless, only managing to mutter 'uh-oh' to myself over and over again. Worried for Britain, I am, indeed.

Well, they got what they deserved..... and voted for. A land of freaks and 

[thirdleg]

2 minutes ago, sawadee1947 said:

Well, they got what they deserved..... and voted for. A land of freaks and 

This is the land of freaks, don't get confused.

You owe all your freedom to the Brits and Allies so show some respect

[sawadee1947]

7 minutes ago, Surasak said:

clawed it way back 

How? By what means? 

A small little island with strong neighbors (Scotland and reunited Ireland as members of EU) fighting to survive, begging EU to let them in again..... ????????????

[Joinaman]

2 hours ago, AlexRich said:

Deluded. A no deal Brexit will cripple GBP, and you won’t see any recovery for donkeys years. 

 

Keep on drinking the Brexit Kool Aid.

would appreciate it if you could back this statement up with true facts ?

Please show the figures, and explain how and why you arrive at these

or are like most remainers, big on wild claims, small on real facts 

[Andrew65]

Just now, sawadee1947 said:

How? By what means? 

A small little island with strong neighbors (Scotland and reunited Ireland as members of EU) fighting to survive, begging EU to let them in again..... ????????????

Are you sure that Dublin could afford to finance Ulster? I think London sends around £10 billion to Ulster per annum.

 

Also, could Scotland really survive on it's own?

 

Maybe Brussels could stump-up some billions?

[Joe Mcseismic]

Expect another drop tomorrow. Markets are now trading Sterling/US$ at 1.217

[Thaidream]

22 minutes ago, Snow Leopard said:

otal nonsense. That is exactly what is going to happen. A massive depression. The US$ is propped up by nothing but fresh air and one day the whole house will come crashing down. Every currency that ever existed has crashed when it is backed by nothing.

Every currency is backed by virtually nothing .   In 2008- the World economy came close to a total meltdown until the US, UK, Japan, the EU and Australia stepped in with a massive package to steady markets.

 

Actually- the US is in a pretty good position- it is not dependent on foreign oil nor food and could survive a depression and meltdown quite easily.  Actually, Thailand could also since a majority of people grow rice and vegatables and their food needs would be met.

 

You might want to consider investing in farmland if you believe the World economy will meltdown since you will need to have access to food. Luckily, my  Thai family has plenty of it.