30/25/20 baht > £1 when is it time to Quit ??

[denby45]

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Posted 12 hours ago

"I said my cut off would be 45 and now it’s hovering over at 35"

 

It is not currently 35 but 37. It has never been 35 to my knowledge, however I am not saying it is not going to get there. Depends on Brexit of course, a one off event.  Over the years at one point it was hovering around 90 also because of the Asian crisis also perhaps and I say perhaps a one off event so it should be discounted. If you take the mean rate over the last 25 years it is approx 52 and IMHO there is no reason it can not get back there in fact I am gambling on it. I can wait as long as it takes so no problem. I know others can't and my sympathies are with you.

 

 

Den 

[Captain 776]

I’d say cut now.

[griffon2011]

You can balance out your savings with gold bullion which acts inversely to a degree to currency fluctuations.  I have been buying gold bullion(stored outside the financial system) steadily for over 20 years and it has certainly preserved my purchasing power and is also an insurance against the madness common in the financial industry that is sure to bite us in the not too distant future.  Gold is up 22.9% to the GBP so far this year.  

[rickudon]

Wait until after Brexit (whenever that may be). It will be at it's lowest about 3 months later (if no deal). Returning to the UK would mean spending half my pension on rent, so still cheaper to stay here for now. If it gets that bad, I will go into partnership with Britmantoo growing Ganja in the Uk!

[Lacrimas]

It's not only the Sterling's exchange rate falling but also all the others. It is the Baht that is too strong at the moment, the 'best' performing currency in Asia this year. We must hope for a downfall next year but it is more than a hope because the Bank of Thailand is trying to make the baht weaker otherwise exports will stop together with tourism.

[yodsak]

1 hour ago, denby45 said:

It has never been 35 to my knowledge,

Had about 2 years under 35

[adammike]

3 hours ago, billd766 said:

But if there is a second referendum and Leave wins again, then what will the Remainers do?

Ignore the result like the Lib/Dems want to do?

What will you do if the Tories win the general election? Ask for a rerun?

 

I gave up trying to predict the future past my next mealtime months ago. I found it less stressful.

Tony Blair was on the TV the other night saying that the only way to get some sort of brexit closure was to have another referendum,what if the result was the same,he replied "then it's over we leave" and that's how most people think.Thats not going to stop people still wanting to be in the EU and still campaigning to rejoin but they would accept the result.The first campaign was a lie from start to finish at least we now know how it is.They have just had a vote in the EU Parliament to make the department for investigating foreign interference in elections within the EU permanent,guess who voted against it? the brexit party.

[tribalman]

11 hours ago, BritManToo said:

What if they refuse you re-entry, after a trip out, and all your money is in a Thai bank account?

Seems you're just exchanging one risk for another.

You can transfer a million bht a day from your thai bank account to your home countries bank account using the online app

[Tomahawk21]

15 hours ago, BritManToo said:

My cut off point is when I can't get a VISA, then I'll be here on overstay until they catch me and chuck me out.

Plan B ..... after they've chucked me out, grow cannabis in a UK rented house until they catch me.

Plan C ..... live in UK prison, it can't be worse than a bedsit or care home.

great theory and what about your thais kids ? hope your joking as it does not sound like a good plan. 

[Henryford]

After Brexit the UK will be the No1. economy in the world, back to 60++.

[billd766]

3 hours ago, Henryford said:

After Brexit the UK will be the No1. economy in the world, back to 60++.

I doubt that the UK will ever be #1 economy in the world, but I would be very happy to see it back to 45-50 baht.

[denby45]

21 hours ago, yodsak said:

Had about 2 years under 35

Well spotted. My charts only went back about 30 and a bit years so it missed out that dip. I learned something new today. Thanks Still bullish on sterling after Brexit however.

 

Den

[denby45]

15 hours ago, tribalman said:

You can transfer a million bht a day from your thai bank account to your home countries bank account using the online app

Not a good way to send money back. At least not to the UK at least. Using Transferwise would be the way to go but unfortunately although they are the way to go for GBP-THB they don't go the other way. Neither does Currencies Direct. The only one that I could find that does is Halo.

Den

[JaiLai]

What if they refuse you re-entry, after a trip out, and all your money is in a Thai bank account?
Seems you're just exchanging one risk for another.

Have you heard of the internet?




Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[JaiLai]

What if they refuse you re-entry, after a trip out, and all your money is in a Thai bank account?
Seems you're just exchanging one risk for another.

Have you heard of the internet?




Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[RickG16]

Can anyone offer an explanation for the slight resurgence of the pound against the baht in recent days?

[anchadian]

20 minutes ago, RickG16 said:

Can anyone offer an explanation for the slight resurgence of the pound against the baht in recent days?

Have you heard of the internet?  You can read the news on there,

Edited October 12, 2019 by anchadian

[yodsak]

On 10/10/2019 at 7:08 AM, jasonr3255 said:

see no reason why it wouldn’t drop to 25 baht to the £1 after Brexit and possibly even lower. 

A bit pessimistic. No financial analyst in the world is predicting 25 after a no deal Brexit.  

That would be £/$0.82.  The UK is the worlds 5th largest economy.

A Brexit with a deal will push the £ higher.

 

$1.15=   ฿35/£            $1.10 =  ฿33.5 /£      $1.05=  ฿32/£

 

$1.30 would be ฿39.5 /£       Now at 38.51      

[yodsak]

11 hours ago, RickG16 said:

Can anyone offer an explanation for the slight resurgence of the pound against the baht in recent days?

Check the internet.    Slight resurgence is a 4.4% rise.  The largest 2 day jump since 2009.

The FTSE 250 also up 4.2%. Biggest one day gain in over nine years.  21 firms with gains of at least 10% . 

 

 

[essox essox]

On 10/10/2019 at 7:19 AM, jonwilly said:

Impossible to forecast future rates of exchange.

Whenever story of Brexit agreement the pound stabilizes/strengthens so we will just have to wait and see.

I am down over B15K/ month on my monthly income from UK, since start of Brexit,  so I do sympathize.

 

john 

just like many of us here....

[denby45]

On 10/12/2019 at 9:25 PM, RickG16 said:

Can anyone offer an explanation for the slight resurgence of the pound against the baht in recent days?

There is new belief that Boris can get a deal from the EU.

 

Get ready to short it again when he fails.

 

Den

[thaiguzzi]

An important point to actually living here full time as an expat, especially a married expat with kids, is making the exchange rate irrelevant.

If you are not reliant on a pension, or money from renting out your property, etc,  hence not reliant on exchanging money every month, then it all becomes irrelevant what the Pound/Euro/Dollar is doing n'est pas?

Innit?

What i'm trying to say, is if you want to live here full time, make your money here, or invest it here, in whatever business you think will make you AND your family money every month.

On 10/10/2019 at 7:08 AM, jasonr3255 said:

I work in UK half the time but sending money over is becoming gut wrenching

I bet it is.

I invested all my money here in 2004-5-6 when the TB=GBP was 74:1.

Not only is the Pound half that, but the land value round here is worth 5 times what it was.

I could not remotely do what i did then on today's money and values.

[NiwPix]

May be the time to start earning Baht instead of Sterling.

Wouldnt it be nice if the Sterling dropped to 15 Baht? You would only need 15 million Baht to be a millionaire back home.....hmm, I may have to retire somewhere in Europe then.

[Harveyboy]

Yes mate feel sorry for you.. Many I. The same boat I'm afraid worst thing is having family to take care of   I have Euros to worry about but just as bad as the pound suppose we will just have to cut down a little and ride the wave eh mate.. Look on the bright side we could be in Europe   

[mrwebb8825]

I know you asked for the non-effected not to comment but I only wanted to say this, cutting back when and where possible could help ease the worry. Cheaper beer, fewer steaks, less wine, etc. til the storm passes. The mere fact that Thailand is bolstering its currency on Chinese assistance should give you hope. China will not be strong long as more and more countries tighten trade agreements. The fact that China is reaching out to Thailand is an indicator. Thailand could wake up 1 day and start raising rice export prices to China.

Love him or hate him, president Trump is squeezing the <deleted> out of the Chinese economy. Proof is in the uprising of Hong Kong and Taiwan. I also think brexit will really be no big deal and should have happened with no deal back when you guys had T. May in office. Leaving the EU isn't screwing Europe, it's screwing the current ruling conglomerate. If you guys just do it (to coin Nike) I think you will see Poland, Italy, Spain, France and others following suit all looking to take back full control of their own countries.