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

[toke182]

The UK is the new Thailand but with shit weather

[nauseus]

3 hours ago, MobileContent said:

All currencies are down even the Swiss franken which might be a stunner.

 

Waiting it out is the best options. The THB cant be forever raising against the major currencies. I remember the times in 1998 when the GBP was my basic salary on an expat package bu thats a long time ago.

The Swiss Franc is holding up best.

[nong38]

Its not going to be good until the UK eaves the EU, take a deep breath and hold onto your hat! It will improve next year, don't believe all the scare stories hold your nerve.

[Jimbo1964]

13 hours ago, Xaos said:

Brits still thinks european immigrants will be gone after brexit. 

And if you think Brexit is solely about immigration then your badly misinformed. In fact that ranks pretty low, if at all, for most I know that voted to leave.

[Tomahawk21]

13 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.

only if u live like a toe rag, people have work all their lives not to live like that!

[Tomahawk21]

13 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.

lets hope u are sting singing the same tune when it hits 10% less than it is now !

[CptnAhab]

I think that most people who believe without any fact based reason that Great Britain and the pound will prosper after any kind of brexit will wake up soon and see the then dis-united Little Britain (kingdom of just England)after the scots, the welsh and first of all the northern irish have left the bancrupt country. Sorry to have to tell you that! 

[Andrew65]

5 hours ago, Basil B said:

Parliament could be recalled at anytime...

 

We have a by-election on Thursday, another to be called in September in Sheffield Hallam a constituency held by the LibDems from 1997 to 2017, with Nick Clegg getting 53.4% of the Vote in 2010, sure these two by-elections could kick start a LibDem revival.

 

Then there's the Brexit Party too. Would certainly be an "interesting" GE!

[dimitriv]

8 hours ago, Angry Dragon said:

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.

 

Not if you add the cost of an airline ticket. If you look at the prices in Thailand + cost of a ticket and compare them with prices of popular holiday destinations in Europe than Thailand loses.

 

 

 

 

Edited July 30, 2019 by dimitriv

[JamJar]

10 hours ago, britishrepublican said:

As a currency trader, I expect the pound to fall dramatically in the 2-3 days after the 31st. Once the initial panic passes I expect common sense to prevail and the pound will recover to pre referendum rates within a year. 56-58 baht.

 

It's worth the short term pain in the long run.

 

On what do you base your 'prediction'?

What do you think would be behind such massive rise in value? Higher interest rates?

Other nations buying the Pound in order to trade with the U.K? What are the fundamentals you are depending on for your assertion exactly?

 

Short term pain? Give us some examples of the short term pain to which you refer and them some examples of the long term benefits to the U.K population(not to just the few who will make money out of it either way).

[JamJar]

2 hours ago, Jimbo1964 said:

And if you think Brexit is solely about immigration then your badly misinformed. In fact that ranks pretty low, if at all, for most I know that voted to leave.

 

So tell us the reasons, in order of importance. Will certainly be informative.

[Melbun]

16 hours ago, keith101 said:

David id lucky mine has gone from around 50,000 down to just over 36,000 and if it keeps sliding possibly wont make the requirement for immigration the only possible saviour will be the bi-annual increase to the pension in September .

If it's an Aussie government pension - look forward to 10 bucks increase in September mate.

[Melbun]

4 hours ago, Kenchamp said:

What planet are you on?

The very oversimplified solution is simple. Leave Thailand en mass / stop visiting. Maybe then, the Thais will see reason and devalue the already overinflated Baht.

[drgoon]

16 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

better than the left-wing globalist with their one world agenda that has already <deleted> most of Europe

[Dene16]

13 hours ago, gearbox said:

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.

worked in car manufacturing for 30 years and the writing has been on the wall  for the last 15 years (absolutely nothing to do with Brexit). Manufacturers are using Brexit as a reason to pull out, its called saving their company image

Manufacturing has been switched to new countries in the EU like romania and turkey where labour was cheap (turkey not in the EU but given nearly the same export deal as other countries in the EU)  still, considerably cheaper than the UK 

The UK, although mostly, was not the only casaulty as some EU countries have also suffered

 

 

[Isaan sailor]

So Bank of Thailand keeps artificially high interest rates to beget massive foreign bond sales (hot money). Why?  More ChiCom submarines?  Pay for more ChiCom Belt & Road? Does the collapse of the export and tourism industry bother them at all?

[Polaky]

Even the Aud is sailing past the GBp,  might be a good time to visit London. 

Edited July 30, 2019 by Polaky

[dimitriv]

4 minutes ago, Polaky said:

Even the Aud is sailing past the GBp,  might be a good time to visit London. 

If you wait till October 31 you can go for free! 

[kiwikeith]

18 hours ago, carabaothai said:

same for Euro(pean) people ????

NZ dollar was 25 BHT now 19, very bad.

I heard in the grapevine that the Thai BHT is in line for a major correction, I don't know which way this will go.

The Brexit panic is being manipulated by the big money fear mongers.

Britain should get out of the EU asap and then I would bet that the currency will stabilise and increase upwards.

This would also impact the NZ and Aussie , probably all currencies would correct.

 

Just look at what the scare mongers did to Greece when they threatened to leave the EU, they borded up supermarkets , closed banks and created havoc.

Financial terrorists reeking havoc on the world.

[bowerboy]

I would find the irony hilarious if the GBP collapses even more and becomes a cheap holiday destination and fills up with “bloody foreigners” taking advantage of the cheap currency!

[Pachalan]

20 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

Would you be kind enough to explain how the UK as a nation has been hoodwinked please ........ thanks (*∆°)

[Joe Mcseismic]

13 hours ago, Basil B said:

Some with the mentality of King Canute are trying... 

Sorry, off topic, but, I couldn't let that comment slide.

King Canute was very smart. He pulled the holding back the tide trick to show his sycophantic followers that he was just a human.

https://en.wikipedia.org/wiki/King_Canute_and_the_tide

[Henryford]

Must be having a big impact on the sale of condos/houses to Westerners. No one would pay the current Thai prices. Maybe the sales to the Chinese make up for it?

[bannork]

20 minutes ago, Pachalan said:

Would you be kind enough to explain how the UK as a nation has been hoodwinked please ........ thanks (*∆°)

Perhaps he means being told before the referendum that leaving meant freeing up loads of money for the NHS, making new trade deals would be a cinch and would soon be in place. 

Instead the UK is threatened by chlorinated chickens from the US and rumours of a US take over of the NHS. 

There was no answer to Welsh farmers' fears of a 40% tariff on Welsh lamb exports to the EU if no deal Brexit goes through. 

[Pachalan]

25 minutes ago, Henryford said:

Must be having a big impact on the sale of condos/houses to Westerners. No one would pay the current Thai prices. Maybe the sales to the Chinese make up for it?

 

The problem with sales to the Chinese is that almost all of them buy, simply as a way of investing outside of China. About 3 years ago I made an inquiry about new beachfront condos being built in Cha-Am called “Lumpini Park” I was told they were all sold, mostly to Chinese. Every time I drive past the development it is empty, they don't rent them out, and they don't stay there; consequently, there is no contribution to the local economy, and the developers are the only beneficiaries. I am told there are many similar situations in Phuket, although I have no experience of that.

[BritManToo]

10 hours ago, CNXexpat said:

No, that´s the rumor. The fact is you are wrong.

 

Doesn't matter how you pick your data, 5% variance doesn't matter, the uncomfortable truth is the USD/Euro/Pound will likely all be trading at the same price in the near future, probably 25 Thai Baht, and the AUD,NZD,CND probably 16 Thai Baht.

 

No point in gloating about how well your currency is doing, they're all getting flushed at the same time.

For the Euro/Pound, they'll both continue to fall until Brexit is over one way or the other.

Learn to economise or leave.

[drgoon]

2 minutes ago, BritManToo said:

Doesn't matter how you pick your data, 5% variance doesn't matter, the uncomfortable truth is the USD/Euro/Pound will likely all be trading at the same price in the near future, probably 25 Thai Baht, and the AUD,NZD,CND probably 16 Thai Baht.

 

No point in gloating about how well your currency is doing, they're all getting flushed at the same time.

For the Euro/Pound, they'll both continue to fall until Brexit is over one way or the other.

Learn to economise or leave.

At 16 to the NZD, I'll be going home lol

[Henryford]

50 minutes ago, bowerboy said:

I would find the irony hilarious if the GBP collapses even more and becomes a cheap holiday destination and fills up with “bloody foreigners” taking advantage of the cheap currency!

It's already full of bloody foreigners.

[BritManToo]

Just now, Henryford said:

It's already full of bloody foreigners.

When it's full of cheap hookers, I'll think about going back.

[Henryford]

2 hours ago, Polaky said:

Even the Aud is sailing past the GBp,  might be a good time to visit London.  

Don't forget to pack your stab vest.