Pound is second-worst performing currency in the world

[puipuitom]

2 hours ago, ThomasThBKK said:

You have to use a bigger timeframe for the thai baht.

The last 10 years it's basically recovering from the financial crisis in asia where it got hit badly.

It's after all not so surprisingly it's doing so good the last year as it started from the bottom.

not so correct... see  https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-THB

2 May 2005: 74,8866 THB per £ and 29 July 2019: 37,59415 per £

1 May 2000: € 1,714875 per £  and today: € 1,09

3 March 1975: US$ 2,4264 per £ and today: US$ 1,2169

A mightmare forex performance.  Happy I am in the "Nazi unelected bureaucracy".

[watcharacters]

3 hours ago, BritManToo said:

Like what?

Bread flour still 32bht/Kg, same as it was 10 years back.

My home loan repayments will be the same for the next 20 years.

Petrol for my scooter cheaper than it was 10 years back (was 30bht/litre, now 28bht/litre)

 

When I first arrived my room rental was 5k/month, ten years later, same room is the same price.

 

Perhaps you missed the word prediction in my brief post.    Reflection is always 20/20.

 

 

[nauseus]

35 minutes ago, marcusarelus said:

No body said it.

I know, thanks. Just yet another creative quote.

[puipuitom]

1 hour ago, iainiain101 said:

Very true, prior to the Tiger crisis of 1997, one GBP got you just under 40 Baht.

Before you write anything on any Internet blog, first verify :  

 

[losworld]

7 hours ago, Basil B said:

3 words: Shot, Foot & Brexit

okay but let's not forget that maybe just maybe those favoring and forwarding Brexit are being punished and threatened by the financial markets who are in opposition of Brexit.... this is not a natural decline of the currency it is indeed being manipulated...

[Johnyo]

Yes, I am very aware that it is happening now, thank you. I was actually referring to the sensationalism and error in the article. However, big banks and multi-national corporations favour EU membership and can use their influence to further affect the drop in Sterling and so create more fear, to try to confound Brexit.  

You really know nothing about currency trading do you? Multinational corporations devaluing the GBP , lol tin foil hat?


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[nauseus]

25 minutes ago, Johnyo said:

 

You really know nothing about currency trading do you? Multinational corporations devaluing the GBP , lol tin foil hat?


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

 

You think? I am not a banker but have been trading currencies for several years on a small scale but mostly successfully and to a net profit. Big banks, companies and very high net worth individuals (as we have seen with George Soros) can influence currency values directly and indirectly through speculation, which can have an effect on a currency as much as the relevant economic data to that currency. 

[Classic Ray]

I like many others struggled through the political turmoil of the 70s and 80s with the union troubles, collapse of manufacturing industry, inner city riots, miners strike, Troubles in N.Ireland, mainland bombings, Bosnia, Iraq and Afghan wars only now to have the banking crisis and our pensions massively devalued by Brexit. Thanks, bastards!

[stevenl]

6 hours ago, RichardColeman said:

Currencies go up, currencies go down. Learn to live with what you have. Adjust your life for time being if you need to.

 

Chances are once Brexit is dealt with - either way - and the baht goes goes down life will get better. The only question is how long and can people struggling make do until then

The pound has been in a slide versus euro currencies like dm and gld and us dollar since wwII. I see no reason at all why that would change.

[Paul52]

8 hours ago, nauseus said:

This is more Project Fear and I suspect very selective in terms of time-range. I would take a story from deVere with a pinch of salt, anyway. The story does not even quote the supposed worst currency, which is probably the Venezuelan Bolivar right now. There are a few obscure currencies doing worse in Africa etc. Sterling is not the second worse in terms of depreciation globally but of course it is crap at the moment against all major currencies. 

So good to see that we have your highly professional, impartial and unbiased FX  expertise to keep us informed (said nobody, ever).  

 

Perhaps you’d be prepared to make good on all our currency exchange loses if brexit doesn’t go as good as you predict?  No?  I thought not.

[Chomper Higgot]

1 hour ago, losworld said:

okay but let's not forget that maybe just maybe those favoring and forwarding Brexit are being punished and threatened by the financial markets who are in opposition of Brexit.... this is not a natural decline of the currency it is indeed being manipulated...

The tin-foil hat explanation. 

[nauseus]

15 minutes ago, Paul52 said:

So good to see that we have your highly professional, impartial and unbiased FX  expertise to keep us informed (said nobody, ever).  

 

Perhaps you’d be prepared to make good on all our currency exchange loses if brexit doesn’t go as good as you predict?  No?  I thought not.

Always good to be appreciated. What currencies do you expect to lose on?

[ResandePohm]

9 hours ago, darksidedog said:

Not pleasant news, but not unexpected either. I think I, like most Brits are praying that something happens to make Brexit work and that one day, the bloody Pound will start to gather a bit of strength again. Before the Brexit vote it was 55, look at it now.

It is forecast to go down to 25.6 baht to the GBP by 2023. This will make life here very dificult for all Brits (including me). 

[nauseus]

9 hours ago, ThomasThBKK said:

It's the second worse MAJOR currency: https://www.thelondoneconomic.com/news/pound-sterling-second-worst-performing-currency-in-the-world-today-pipped-only-by-the-madagascan-ariary/29/07/ , not sure how they define MAJOR tho - madagascar doesn't sound to be major at all.

 

Not sure what's it got to do with Project Fear tho - it's just reality that the UK is in the shitter currently...

That is why I used the word major. Apparently the Pound is the second worst major currency over the last 12 months, after the Swedish Krona (G10 currency). But it looks like that situation that won't last long, I'm afraid.

[nauseus]

7 minutes ago, ResandePohm said:

It is forecast to go down to 25.6 baht to the GBP by 2023. This will make life here very dificult for all Brits (including me). 

Love to see that. Got a link?

[ResandePohm]

1 minute ago, nauseus said:

Love to see that. Got a link?

I didnt save the link but i did copy the prediction.

Pound To Baht Forecast 2019.docx

[Nigel Garvie]

2 hours ago, losworld said:

okay but let's not forget that maybe just maybe those favoring and forwarding Brexit are being punished and threatened by the financial markets who are in opposition of Brexit.... this is not a natural decline of the currency it is indeed being manipulated...

I think it is always important to remember just why powerful people in the financial world are rich. It is because - above all else - their judgements are not affected by emotion. These people don't give a tuppeny Sh#t about Brexit one way or another, they are only interested in money. If they judge that a currency is overvalued  (As the brexit pound supported by an economy in decline, and about to commit suicide, in their opinion is) they sell it. The words punish, and threaten, are not in their vocabulary, they are hard men, they don't do pointless emotions like these. The idea that someone is manipulating our currency into decline is paranoid, nobody needs to manipulate it. The country just attached itself to a static rope, by securing it to its crown jewels with barbed wire, then threw itself off a cliff. No manipulation was necessary.  

[yodsak]

4 hours ago, iainiain101 said:

 

Very true, prior to the Tiger crisis of 1997, one GBP got you just under 40 Baht.

 

 

Correct. 

monthly average for june '97 40.35. 

 

2 hours ago, puipuitom said:

Before you write anything on any Internet blog, first verify :  

 

[bannork]

1 minute ago, yodsak said:

Correct. 

monthly average for june '97 40.35. 

 

Prior to the 1997 crash, the baht was in a basket, its rate closely linked to the dollar. Movement up and down was limited to within a fairly narrow range.

[elliss]

9 hours ago, Chomper Higgot said:

I have a sneaking suspicion that many of the Brits baying for hard Brexit and the damage that will do to the value of the pound have already been driven home by the exchange rate, their hope, others will be forced to follow them. 

 Doubt it , most have burned their bridges in the UK ,

  nought and no welcome, no greetings on their return , to mother homeland . 

 

Try plan C.  Cambodia see ya there soon...

 

 

Edited July 31, 2019 by elliss

[nauseus]

25 minutes ago, ResandePohm said:

I didnt save the link but i did copy the prediction.

Pound To Baht Forecast 2019.docx 20.65 kB · 0 downloads

No author but I can see where it must have come from. 

 

I would take no notice if I were you.

[Tug]

Britan is in my prayers hopefully she weathers the storm and the malign influences of trump and Steve bannon will be put were they belong 

[Chivas]

8 hours ago, sniggie said:

The pound fell on the very day that the referendum result was announced. It fell against the Dollar, the HK dollar, the Euro and possibly the Dong for all I know. And if fell against the Baht. i would imagine that if the pound were to recover to even 1.50 USD there would be a concomitant rise against the baht. Brexit has caused the collapse of the pound against ALL major currencies - and the Baht.

lol dear oh dear. Go back and reread the original post. I stated their is no direct exchange rate between Sterling and the Baht which of course there isnt. Only the USD has the priviledge

Its the sum of Sterling/Dollar mulltiplied by Dollar/Baht.....at no point is there any direct link between uk and Thailands currency.  The current shocking Sterling/Baht rate you see at Thailands exchanges is the appalling state of Sterling/Dollar on one side of the pairing and on the other side the Bahts strength against the Dollar.

 

Really is time admin mods or whomever pinned these points because it gets repeated ad infinitum on these threads. The amount of people with passports who have no idea how their own exchange rate works is shocking

[Almer]

10 hours ago, from the home of CC said:

I'm sure there are some that making a killing on this... 

People who built a house at 75 and now sell snd take to money to the UK at 37, very nice thankyou

[ThePioneer]

15 minutes ago, Almer said:

People who built a house at 75 and now sell snd take to money to the UK at 37, very nice thankyou

Sell to who?

 

To those Brits who get 37 to the pound?

 

Several property agents in Pattaya told me that they haven't sold a single house in the past 6 months, so that's from the horse mouth

[elliss]

4 hours ago, losworld said:

okay but let's not forget that maybe just maybe those favoring and forwarding Brexit are being punished and threatened by the financial markets who are in opposition of Brexit.... this is not a natural decline of the currency it is indeed being manipulated...

 

 Wake up ,   many  major manufacturing companies, are  leaving UK asap.

    So sad , brexiters ,  have taken the Great out of Britain, treason..

    

    

 

       

[kevin612]

It will continue to drop

[beautifulthailand99]

1 hour ago, elliss said:

 

 Wake up ,   many  major manufacturing companies, are  leaving UK asap.

    So sad , brexiters ,  have taken the Great out of Britain, treason..

    

    

 

       

So true if they had any shame they would hang their heads and reflect on the real existential damage to the UK their myopic , misguided and misinformed feelings have allowed to happen. But they won't of course it's all remoaners fault, strong baht , they were going to go anyway. Anything than look the horror in the face of what their angry cross on a ballot paper over 3 years ago meant other than their anger and impotence of a world spinning away from them and unrealised dreams. They were laughing and punching the air then , they had 'WON' - each one dreaming of a different prize and none of them worth tuppence. I don't blame them they were the conned but for the conmen gathered like vultures to pickle their grievances in a dose of heady toxic nationalism with their new recast enemy the EU - for them the Farage's, Banks, Boris, Gove and their ilk I reserve my most bilious contempt and in the 7th level of hell where souls burn eternal is reserved for David Cameron the man who opened Pandora's box. 

[beautifulthailand99]

6 hours ago, nauseus said:

You think? I am not a banker but have been trading currencies for several years on a small scale but mostly successfully and to a net profit. Big banks, companies and very high net worth individuals (as we have seen with George Soros) can influence currency values directly and indirectly through speculation, which can have an effect on a currency as much as the relevant economic data to that currency. 

Oh I get it now Nauseus has short positions on the pound rather than a heartfelt belief in the Brexit project. If so good it means you ain't stupid. I hope you make your money like the rest of the vultures. And at least you have some money !

[shy coconut]

13 hours ago, nauseus said:

This is more Project Fear and I suspect very selective in terms of time-range. I would take a story from deVere with a pinch of salt, anyway. The story does not even quote the supposed worst currency, which is probably the Venezuelan Bolivar right now. There are a few obscure currencies doing worse in Africa etc. Sterling is not the second worse in terms of depreciation globally but of course it is crap at the moment against all major currencies. 

Cool, so the pound is doing better than Venezuela and a couple of obscure

African nations.

 

I feel so much better now, thanks.