fforest1 Posted August 10, 2019 Author Share Posted August 10, 2019 These bad currency rates could be a real nasty trap to some guys with out a lot of money reserves...... If you spend down 400,000 baht it could end up costing a lot more to replace that 400,000 baht as long as your home currency is falling..... Yea I know this is not exactly headline news but it is some thing to keep in mind..... Link to comment Share on other sites More sharing options...
dode57k Posted August 10, 2019 Share Posted August 10, 2019 35 minutes ago, madmen said: sinking western currencies are tipped to continue for many year's. Expats praying for a massive bounce are in LA LA land Amazing isn't it. Could try money under the pillow, maybe the tooth fairy will help. Link to comment Share on other sites More sharing options...
lamyai3 Posted August 10, 2019 Share Posted August 10, 2019 2 hours ago, yodsak said: 11 hours ago, Max69xl said: The Pound started going down 2016 when the UK voted yes to leave the EU. Both are true. The pound after the Asian financial crisis in 1998 rose from the high 50s to the mid 70s and then fell back a bit, averaging rates in the high 60s for around a decade. The slight downturn between 2004-7 was nothing to do with the huge impact on the pound of the 2008 financial crash, clearly visible in the chart above. Subsequently it made quite a respectable recovery to around 53+ but the Brexit vote killed this overnight and has wiped 30% off it's pre-referendum value. 1 Link to comment Share on other sites More sharing options...
mvsaraburi Posted August 10, 2019 Share Posted August 10, 2019 (edited) 48 minutes ago, lamyai3 said: Both are true. The pound after the Asian financial crisis in 1998 rose from the high 50s to the mid 70s and then fell back a bit, averaging rates in the high 60s for around a decade. The slight downturn between 2004-7 was nothing to do with the huge impact on the pound of the 2008 financial crash, clearly visible in the chart above. Subsequently it made quite a respectable recovery to around 53+ but the Brexit vote killed this overnight and has wiped 30% off it's pre-referendum value. And Bozo Du pfeffel has contributed 10% of that in less than a month. Sub-30 be the new norm soon. Friday evening’s graph looks like the north face of the eiger. Edited August 10, 2019 by mvsaraburi 1 Link to comment Share on other sites More sharing options...
RoadWarrior371 Posted August 10, 2019 Share Posted August 10, 2019 17 hours ago, smedly said: no it isn't against the Thai baht since 2016 % drop USD - 14% EURO - 15% GBP - 18% $USD is in the same range it has been since 2006. Can't say the same for other currencies that seem to be in a tailspin. Yes, 2016 was a spike for USD, and smart money saw it for that and acquired Thai assets with dollars at the same time. ???? Link to comment Share on other sites More sharing options...
Popular Post Baerboxer Posted August 11, 2019 Popular Post Share Posted August 11, 2019 On 8/10/2019 at 5:32 AM, fforest1 said: Wrong.....I guess you need to brush up on your Basic Mathematics.. No he doesn't. You need to brush up on your logic and understand cause and effect. The visa financial requirements have not changed in the amount required. There have been changes in that some embassies will no longer issue afadavits based on their nationals swearing an oath; and admit they can't be bothered to check, which immigration quite understandably don't accept. And a requirement to keep money in the bank all year round for a retirement extension. Exchange rates change regularly. At the moment Western currencies are weak and the GBP's weakness is made worse by Brexit uncertainty. Immigration have absolutely nothing to do with that and aren't responsible for setting exchange rates. 3 Link to comment Share on other sites More sharing options...
fforest1 Posted August 11, 2019 Author Share Posted August 11, 2019 (edited) 24 minutes ago, Baerboxer said: No he doesn't. You need to brush up on your logic and understand cause and effect. The visa financial requirements have not changed in the amount required. There have been changes in that some embassies will no longer issue afadavits based on their nationals swearing an oath; and admit they can't be bothered to check, which immigration quite understandably don't accept. And a requirement to keep money in the bank all year round for a retirement extension. Exchange rates change regularly. At the moment Western currencies are weak and the GBP's weakness is made worse by Brexit uncertainty. Immigration have absolutely nothing to do with that and aren't responsible for setting exchange rates. I think you need glasses.... The only point I was making.... Is the bad exchange rates IS IN A WAY,IS IN A WAY ,IS IN A WAY like another visa tightening..... If visas cost more to get its a TIGHTENING if visas cost less to get its a LOOSING.... This is 100% simple and 100% true.... No need to make the simple complex..... Edited August 11, 2019 by fforest1 1 Link to comment Share on other sites More sharing options...
yodsak Posted August 11, 2019 Share Posted August 11, 2019 15 hours ago, lamyai3 said: On 8/10/2019 at 1:14 PM, Max69xl said: The Pound started going down 2016 when the UK voted yes to leave the EU. 15 hours ago, lamyai3 said: Both are true. I posted the chart to show It didn't start going down in 2016. It carried on going down. It's been going down since 2004. Link to comment Share on other sites More sharing options...
smedly Posted August 11, 2019 Share Posted August 11, 2019 5 minutes ago, yodsak said: I posted the chart to show It didn't start going down in 2016. It carried on going down. It's been going down since 2004. the general trend is the baht strengthening not the other was round It is now severely hurting Thailand and may be too late to do something about it without extreme intervention, it should have been managed over a long period - now it is going to have to be managed very quickly with extreme measures which are risky, we have seen this sort of behavior in other countries - Venezuela is a prime example, they would not be in the situation they are in if their economy had been managed properly over a long period, I am not saying Thailand could end up like Venezuela but perhaps heading for a turbulent time - they took their eye off the ball Link to comment Share on other sites More sharing options...
Kopitiam Posted August 11, 2019 Share Posted August 11, 2019 2 hours ago, fforest1 said: I think you need glasses.... The only point I was making.... Is the bad exchange rates IS IN A WAY,IS IN A WAY ,IS IN A WAY like another visa tightening..... If visas cost more to get its a TIGHTENING if visas cost less to get its a LOOSING.... This is 100% simple and 100% true.... No need to make the simple complex..... I reckon your logic and argument is flawed. As Baerboxer has mentioned, the visa financial requirement has not changed. If the Thai baht falls in future, will you come back and start a thread in TV with "Hoorah, visa loosening"? 1 Link to comment Share on other sites More sharing options...
fforest1 Posted August 11, 2019 Author Share Posted August 11, 2019 12 minutes ago, Kopitiam said: I reckon your logic and argument is flawed. As Baerboxer has mentioned, the visa financial requirement has not changed. If the Thai baht falls in future, will you come back and start a thread in TV with "Hoorah, visa loosening"? Yep.... Link to comment Share on other sites More sharing options...
UKresonant Posted August 11, 2019 Share Posted August 11, 2019 (edited) 2 hours ago, Kopitiam said: the visa financial requirement has not changed I thought the income method had changed? I read before somewhere, last year, that people could declare gross income when the Embassy letters were used ? Now for the nationalities that no longer can use those letters, it is net income, and only the money sent to Thailand is recognized, and that "income" has the fee's to transfer it there deducted before hitting the bank (so that's another 1.5-2% off), as there is a required frequency of transfers now, whilst there was no such stipulation before. Also, of course, as per the subject, the £ has reduced in value by approx 17% since my first entry on a non-O visa. Seems a little different. Edited August 11, 2019 by UKresonant Link to comment Share on other sites More sharing options...
Hans007 Posted August 11, 2019 Share Posted August 11, 2019 Another thing which comes to midn is the inflation. What about that in Thailand?? The knife cuts 2 ways...on the other hand Bath is rising....and prices in Thailand rise..!! So that is twice a bad thing. I saw that for 1 euro you got about 45 bath..couple of years ago...now its just 34..!! That hurts. hans 1 Link to comment Share on other sites More sharing options...
lamyai3 Posted August 11, 2019 Share Posted August 11, 2019 4 hours ago, yodsak said: 20 hours ago, lamyai3 said: Both are true. I posted the chart to show It didn't start going down in 2016. It carried on going down. It's been going down since 2004. It was consistent for a decade from 1998 to 2007, I'm well aware as I was here at the time. If you doubt it, here's proof. Ignoring the huge brief spike at the beginning (as a result of the tom yum crisis), the pound was reliable for a decade, and even rang in the beginning of 2007 at 70 to the baht. It was during 2007 it started to drop in the approach of the global financial crisis, and the following year it fell off a cliff edge. From early 2013 it was recovering quite nicely, and had regained close to 20% by mid 2016, when Brexit once again pushed it over the precipice. It's too simplistic to state it's been in steady decline since 2004, when it was two major (and time specific) events that caused it to lose value. Link to comment Share on other sites More sharing options...
UglyBug Posted August 13, 2019 Share Posted August 13, 2019 On 8/10/2019 at 4:18 AM, RichardColeman said: I just know if i transfer over 400,000 baht from the uk for my marriage visa - the pound will suddenly boom and the baht drop through the floor ! Dream on ???? 1 Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 On 8/10/2019 at 5:32 AM, fforest1 said: Wrong.....I guess you need to brush up on your Basic Mathematics.. Your math has nothing to do with the visa requirements itself but with exchange rates. Link to comment Share on other sites More sharing options...
Max69xl Posted August 13, 2019 Share Posted August 13, 2019 On 8/11/2019 at 3:26 PM, fforest1 said: I think you need glasses.... The only point I was making.... Is the bad exchange rates IS IN A WAY,IS IN A WAY ,IS IN A WAY like another visa tightening..... If visas cost more to get its a TIGHTENING if visas cost less to get its a LOOSING.... This is 100% simple and 100% true.... No need to make the simple complex..... Still, Immigration has nothing to do with exchange rates. You can't blame them. 1 Link to comment Share on other sites More sharing options...
Max69xl Posted August 13, 2019 Share Posted August 13, 2019 On 8/11/2019 at 4:59 PM, yodsak said: I posted the chart to show It didn't start going down in 2016. It carried on going down. It's been going down since 2004. You can't go back to 2004 and refer to the exchange rates then. Asian financial crises together with a strong £, maybe to strong, and a weaker baht. A lot of people from the UK living in Thailand thought around 65 baht was a good standard. Then another crisis popped up,and on top of that pre 2016, brexit became the talk of the town. Then in 2016 the £ went down even more,and now because of BJ, it went down another 5 baht to around 37 baht. Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 On 8/10/2019 at 1:14 PM, Max69xl said: The Pound started going down 2016 when the UK voted yes to leave the EU. The pound has been in a decline since 2005, don't know why people think it will get much better in the future: https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-THB Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 On 8/10/2019 at 4:20 PM, madmen said: But but bar stool analyst's always say never put even 1 baht in a Thai bank. Boy did they get that wrong ! Feel sorry for the sucker's that bought into it Never ever take financial advise from TV !!! great forum for Price of beer discussion through Indeed, the pound and euro have been in decline since 2005. There has been a huge banking crises in the Western world but for some strange reason they still think that their currency and banks are the most reliable. Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 On 8/10/2019 at 5:22 PM, maprao said: Immigration used to adjust with cost of living and exchange rates. In my time I have seen it rise from 200,000 to 800,000. I wish I'd bought the "lifetime " Thai Elite Visa. I am budgeting for the current required monetary value required times two. Just incase there is no grandfathering allowed. Nothing to do with exchange rates. Link to comment Share on other sites More sharing options...
Max69xl Posted August 13, 2019 Share Posted August 13, 2019 10 minutes ago, FritsSikkink said: The pound has been in a decline since 2005, don't know why people think it will get much better in the future: https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-THB You are correct, but I don't think we should go back 15 years. We can go back even further to (I think it was 1992), another financial crisis in South East Asia. You got a shitload of baht for a short while,but it wasn't normal,and we knew it. My guess is that the Thai government will do something about the to strong baht,and because of much less tourists. Thai Airways lost billions of baht just this year. They doubled the loss compared to the same period last year. Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 On 8/10/2019 at 8:45 PM, rodpav said: Chinese Indians and other nationalitys which come over on package tours and do nothing for the economy, More barstool nonsense. The Chinese, about 10 million of them, spend more per day in Thailand then any other nationality. 1 Link to comment Share on other sites More sharing options...
jacko45k Posted August 13, 2019 Share Posted August 13, 2019 3 minutes ago, FritsSikkink said: More barstool nonsense. The Chinese, about 10 million of them, spend more per day in Thailand then any other nationality. Yep, up to 45 baht each, it all adds up! Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 On 8/11/2019 at 5:15 PM, smedly said: the general trend is the baht strengthening not the other was round It is now severely hurting Thailand and may be too late to do something about it without extreme intervention, it should have been managed over a long period - now it is going to have to be managed very quickly with extreme measures which are risky, we have seen this sort of behavior in other countries - Venezuela is a prime example, they would not be in the situation they are in if their economy had been managed properly over a long period, I am not saying Thailand could end up like Venezuela but perhaps heading for a turbulent time - they took their eye off the ball Venezuela was doing fine until the USA started with sanctions. Link to comment Share on other sites More sharing options...
jacko45k Posted August 13, 2019 Share Posted August 13, 2019 2 minutes ago, FritsSikkink said: Venezuela was doing fine until the USA started with sanctions. Hardly... been a mess for years. Link to comment Share on other sites More sharing options...
FritsSikkink Posted August 13, 2019 Share Posted August 13, 2019 4 minutes ago, jacko45k said: Yep, up to 45 baht each, it all adds up! Do you have a problem reading? They spend MORE per day then ANY OTHER NATIONALITY. Link to comment Share on other sites More sharing options...
jacko45k Posted August 13, 2019 Share Posted August 13, 2019 Just now, FritsSikkink said: Do you have a problem reading? They spend MORE per day then ANY OTHER NATIONALITY. No, I have a problem with people supplying unfounded statements without source or details like is this per capita or as a total.... ? Link to comment Share on other sites More sharing options...
ubonjoe Posted August 13, 2019 Share Posted August 13, 2019 This topic has certainly run its course now since it has turned into a bickering session by a few members. This topic now If you want to discuss exchange rates it should be done in the business and banking forum not the visa forum. Link to comment Share on other sites More sharing options...
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