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

[Percy P]

4 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 

 

Ok, instead of drinking beer drink Lao Khao Sprite excellent combination. Also have a nip in my coffee. 

[JamJar]

49 minutes ago, swellbelly said:

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.

 

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.

[Percy P]

1 minute ago, Percy P said:

Ok, instead of drinking beer drink Lao Khao Sprite excellent combination. Also have a nip in my coffee. 

You say near future, what about the long term.

1 minute ago, Percy P said:

Ok, instead of drinking beer drink Lao Khao Sprite excellent combination. Also have a nip in my coffee. 

 

[MadMuhammad]

The ASX200 is on a tear, pre GFC levels now and a new record. I’ve managed to pull $70Kaud out this year alone without touching my capital. Anyone that relies on bank interest is doing themselves a disservice 

[bert bloggs]

11 minutes ago, AlexRich said:

People that bang on about ladyboys are usually banging ladyboys.

And methinks though doest dream to much????

[MarkyM3]

2 hours ago, PremiumLane said:

evidence for this? 

Work for a large multinational bank in London. Brexit contingency have already been deployed since March and operations with Europe carried on unaffected irrespective of whether Britain leaves with a deal or no-deal i.e. eligibility for membership of European settlement schemes like Target2, Euro1 etc.  

Edited July 30, 2019 by MarkyM3

[Percy P]

13 minutes ago, JayBird said:

Everyone might be gone after brexit

That's their chose . 

[dunroaming]

28 minutes ago, peterb17 said:

Sadly- it is not a small amount of money by Western standards- even though the UK is the fifth largest economy- 25% of adults have no savings .

£30000 is a vast amount of money to many many families in the West.

All Western countries ( and absolutely including the USA ) have swathes of their populations who live just about from week to week- many rely on cheap credit just to survive .

 

One presumes that you are a member of the 1% ? 

When most people look at retiring to another country they work out their budget before committing.  They assess living costs and base it on the exchange rate for that country at the time.  There is always a risk of fluctuation in the currency and common sense tells you to build in some leeway.  Also when you live somewhere your circumstances often change, especially if you then form a relationship.

 

Unfortunately many people do not have a plan B.

[nauseus]

This topic lead line is misleading. The pound is not at an all time low. Within the last 40 years the Baht has been as low as 30 (28 for a day in 1985) and as high as 90 (91 for a day in 1998) to the Pound. 

[UKresonant]

55 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

I would just like to say that it was the unlimited nature of the treaty that just did not make sense, almost all the EU folk I worked with were sound and pleasant. It was many companies not investing in training of the more local young folk as much, when they thought they could quickly import trained resources, that caused irritation.

The remain camp have successfully spoiled the opportunities in the UK for many Europeans, who still have a very helpful roll in the UK economy, by essentially talking down the £, especially where their home economy has improved, eg Poland. The remain camp also have effectively put a pause on some investment due to the continuing unresolved situation.

Working in the UK is no longer the big attraction for many, that it was when the pound was stronger. (As well as causing us pain with the FX rate if still we source from UK).

[sambum]

5 hours ago, carabaothai said:

same for Euro(pean) people ????

Brits are at this moment in time Euro(pean) people! 

[britishrepublican]

5 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 

 

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.

[MarkyM3]

1 hour ago, dunroaming said:

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.

Was down to 44-45 in 2013 when I lived there for 6 months. Check the xe.com 10 year chart.

[Percy P]

11 minutes ago, Percy P said:

Please explane.

Or you can't.

[sambum]

4 hours ago, BobBKK said:

It is pitiful and I get two GBP pensions. Still nothing can be done and no use harping back to 72 THB to 1 GBP, in fact we should not even mention 72 as it's depressing so I won't even mention 72.

OK- 73!

[sambum]

6 minutes 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.

I do so hope you are right! I would settle for 50 at the moment!

[Jonnapat]

5 hours ago, Xaos said:

Brexit Pound

Just wait for the no deal pound

[alzack]

5 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 .

Yes its a sorry state. We saw the writing on the wall regarding our pension and returned to Uk august 2016, and glad we did. Now  so happy we upped pegs good luck to all you guys, a big worry for sure all the best

 

[dunroaming]

31 minutes ago, peterb17 said:

Gosh

As an openly gay man on this forum -I am not sure quite where this fits in with the contents of this thread - currency exchange. Not a pleasant read 

 

PS I think it’s my wife and I 

As an openly gay man on this forum you are very welcome.  Unfortunately brainless homophobes can be found everywhere but the vast majority of people don't fall into that category.

[UKresonant]

1 minute 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.

Sounds good the most I hoped for was a rebound to 48 Baht to the £ (to match the design I had, when I retired early from my previous employment, only last year...)

 

I'm just unhappy with the people making the "short term pain" period longer than it need be. 

[TKDfella]

I think I mentioned my position a while back but just in case; I retired early so I don't get a full UK gov. pension; I took a partial lump sum on my company pension so I don't receive 100% on that either. This month total Thai Baht received just scraped 40K. Since I rent a place and on my own I'm okay but there is no way I can even think about a girlfriend (divorced from Thai wife). But with the GBP slump what concerns me is that if Thai immigration make an increase in financial requirements (I use 800K method)...you know, 'it never rains but it pours' situation. As far as the Brexit situation is concerned not much we can do about it. There are probably expats out there worse off than me, maybe medical problems etc., and I feel for them.

[soalbundy]

1 hour 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.

Syndicate sounds like the right word, is it, dare I use this word, legal ?

[Jonnapat]

8 minutes 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.

You are surely joking ????????

[TPI]

5 hours ago, RotBenz8888 said:

????

I have a particular military pension (TPI) it used to give me a pretty good living here in LOS, I've lost THB 60K a month in the last year because of the poor AUD and the super high THB!

[soalbundy]

10 minutes ago, sambum said:

Brits are at this moment in time Euro(pean) people! 

and will continue to be despite brexit, the UK hasn't broken off the continental shelf yet and genetics won't change even with inbreeding

[alzack]

4 minutes ago, sambum said:

OK- 73!

Yes its serious and heart breaking to see you getting poorer and Grey men in suites raking in the money on foreign currency trading for sure. We returned to live in uk in 2016, My  Pensions had dropeed from  65 baht=£ to 42 baht  overall over 25% loss at the point we left. 

[Jonnapat]

You know that thing called cloud cuckoo land? 

That's where the poster who calls himself a currency trader is living.

It would take some miracle for sterling to ever be at 56/58 again and where's that miracle coming from?

[nauseus]

1 minute ago, alzack said:

Yes its serious and heart breaking to see you getting poorer and Grey men in suites raking in the money on foreign currency trading for sure. We returned to live in uk in 2016, My  Pensions had dropeed from  65 baht=£ to 42 baht  overall over 25% loss at the point we left. 

Er....

[dunroaming]

6 minutes ago, MarkyM3 said:

Was down to 44-45 in 2013 when I lived there for 6 months. Check the xe.com 10 year chart.

Yes I know.  I continue to do business in Thailand even though I don't live there anymore, so I am painfully aware of the exchange rate.

[TKDfella]

1 hour ago, Seismic said:

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

But living costs were cheaper then.