A seriously new low for the Australian dollar

[WalkingOrders]

19 minutes ago, Straight8 said:

Can't imagine any Aussie wanting to come to Thailand for a holiday until the dollar is at least back up over 23 baht...even then it will quite an expensive holiday, with much better options elsewhere around the world

The Aussie dollar is tanking against everything right now isn't it?

[WalkingOrders]

Just now, Lacessit said:

It's a nice problem to have. Without it, Australia would have been in recession for a decade.

I appreciate the reality of that statement, but the view in the USA is that this crisis has exposed a weakness in over reliance on China. I imagine you are in that same boat, and perhaps to greater degree.

[kevin612]

Usd is rising daily, glad it happens.

[Radar501]

2 hours ago, ianezy0 said:

AUD is a commodity currency, much like Canada, NZ and some others. Therefore, it is tied into the Australian resources.

This is how the Aussie dollar compares with those two commodity currencies you have mentioned.   Heading south at an alarming rate.   Why are Canadian and NZ resources more robust in a time of crisis?

 

The AUD has also fallen off the cliff against Banana Republic economies such as Argentina.    I just don't understand the international money market.

 

[BritManToo]

6 hours ago, Guderian said:

Look on the bright side, cobber, that's still less than 40% down. The pound was down from a high of around 76 to a low of 36 a few months ago, that's way more than a 50% drop. Things could still get worse, in times like these every government will be trying to push its currency down against all the others.

Pound was down from 50 to 40 ........ that's a 20% drop (it was at 50 for 7 years).

If you want to talk historical max/min ........ it's up 15% from 1997.

Edited March 17, 2020 by BritManToo

[NorthernRyland]

1 hour ago, Mulambana said:

When I came in 2005, a US dollar was fetching 40 baht. 

I remember it was 45 when I came in August 2005 and fried rice was 20 baht per plate. Food has has at least doubled since then in dollar terms.

[essox essox]

6 hours ago, Neeranam said:

I just got a voucher from BA for cancelling my UK trip. Might be a good time for a holiday in Oz. I'm sure it was 18 years ago. 

 

BTW, when I came to Thailand Oct 1992, the us$ a 25 and uk£ 37.

when i first came pound to baht was 66/7 for a pound !! that was 2006

Edited March 17, 2020 by essox essox
after thought

[NorthernRyland]

37 minutes ago, WalkingOrders said:

I appreciate the reality of that statement, but the view in the USA is that this crisis has exposed a weakness in over reliance on China.

This is good news as far as I'm concerned. We needed to come to terms with this eventually and the sooner the better.

[4MyEgo]

3 hours ago, ianezy0 said:

AUD is a commodity currency, much like Canada, NZ and some others. Therefore, it is tied into the Australian resources.

3 main factors have dragged the AUD in recent years.

 

1. USA/China trade war.

2. Covid-19.

3. Russia/Saudi OPEC oil price dropping.

 

Each of the above will greatly affect commodity prices so, also AUD exchange rate.  
Back when the exchange rate was 30+, oil prices were high, iron ore and coal exports to China and Sth Korea (main exports for Aus) were booming.

If you check Canadas exchange rate this is also dropping based on their commodities.
IMHO...I think it will keep dropping until we see some stabilisation of the above. Not good for those of us who bring money over.

I transfer my yearly budget usually around October every year, part of it is to do my extension (marriage) and the balance to survive for the remainder of the year, I do it this way because I know if the $ drops I am ahead, but last May I did the transfer ahead of time as I saw the $ dropping and I got 21.85 on Transferwise.

 

The above said not looking forward to this Octobers exchange rate, however am looking at making some coin from stocks I recently purchased which should be up, up and up by then and should compensate me well for the $'s decline.

 

I also remember when it was 33 back in 2007 or 8, but before moving here in 2015 made sure that I did my calcs on the $ being 20 baht, well the realisation appears to be here now, might have to readjust my cals for the future.

Edited March 17, 2020 by 4MyEgo

[AussieBob18]

It will eventually recover - but dont ask when. Thailand economy relies on exports and tourism a lot - both have been hit hard by the high Baht and eventually the Thai economy will crash and the Baht rate will fall against all currencies.  Aust has its own economic problems and being so reliant on exports (even more the Thailand) means we are getting reemed with the US/China trade issues and the ongoing slowdowns in Japan and Sth Korea. But the good news is that with the $AUD low it will eventualy recover when exports pick back up, and then the $AUD will follow and rise swifly.

[CGW]

2 hours ago, Lacessit said:

I'm waiting for the Thai baht to depreciate, seriously.

You live in hope - well done ????

[ianezy0]

1 hour ago, Radar501 said:

This is how the Aussie dollar compares with those two commodity currencies you have mentioned.   Heading south at an alarming rate.   Why are Canadian and NZ resources more robust in a time of crisis?

 

The AUD has also fallen off the cliff against Banana Republic economies such as Argentina.    I just don't understand the international money market.

 

Good observation . would say because Australian resources are vast and more reliant on SEA so, are more affected??????

[CGW]

42 minutes ago, genericptr said:

I remember it was 45 when I came in August 2005 and fried rice was 20 baht per plate. Food has has at least doubled since then in dollar terms.

I would hope your earnings have more than doubled in 15 years which would more than accommodate the price of Flied Lice, can't think of many countries where the price of food has not increased in 15 years.

[Laza 45]

7 hours ago, Damaz6052 said:

18.50 at the Kbank ATM yesterday.

Use TransferWise.. much better rates and quick from OZ.. 20 minutes at most..  

https://transferwise.com/au

 

[zaZa9]

5 hours ago, ozfarang said:

The low in mid 86 was 1AUD=฿15.5

 

The high in Jan 96 was ฿36

Theres a few BMs out there who always seem to have memory problems when it comes to this subject ...

Anyway , heres a useful graph... you may need to click on the 25Y  tab

 

https://tradingeconomics.com/audthb:cur

Edited March 17, 2020 by zaZa9

[White Christmas13]

2 hours ago, Laza 45 said:

Use TransferWise.. much better rates and quick from OZ.. 20 minutes at most..  

https://transferwise.com/au

 

Why? I use some one else I pay nothing for transfers over 300 $, below that I pay 3 dollars

[ericthai]

6 hours ago, PatOngo said:

Don't you just wish it was still 2005? ????

no!! wish it was early 1998, USD hit 50's  

[ericthai]

4 hours ago, genericptr said:

I remember it was 45 when I came in August 2005 and fried rice was 20 baht per plate. Food has has at least doubled since then in dollar terms.

and wages have gone from 150B a day to 300+ a day, so no doubt food costs have gone up.

[Philipg114763]

Hiwhy is the thai bahtstronger than the usa Australia  uk money when the thai economyis far worse????????????? 

[Philipg114763]

1 hour ago, White Christmas13 said:

Why? I use some one else I pay nothing for transfers over 300 $, below that I pay 3 dollars

Tranferwise is still giving 19 Australia doller

[zaZa9]

I pay $20 aud for any amount transferred.

Ive no idea why Transferwise has all these recommendations.

[Philipg114763]

12 hours ago, Guderian said:

Look on the bright side, cobber, that's still less than 40% down. The pound was down from a high 7in7of around 76 to a low of 36 a few months ago, that's way more than a 50% drop. Things could still get worse, in times like these every government will be trying to push its currency down against all the others.

The pound was not i repeatnot 76 i been here 20 year and the most was 74 and that was years ago 

[Philipg114763]

2 minutes ago, zaZa9 said:

I pay $20 aud for any amount transferred.

Ive no idea why Transferwise has all these recommendations.

Transfer wise is still 19 Australia doller

[zaZa9]

19.108 at my Thai bank ... like others have said , Ive never seen it so bad..

 

Edited March 17, 2020 by zaZa9

[Salerno]

11 minutes ago, Philipg114763 said:

The pound was not i repeatnot 76 i been here 20 year and the most was 74 and that was years ago 

Has been over 74, but not since '05, and last time it was over 76 was 1998.

[zaZa9]

18 minutes ago, Philipg114763 said:

The pound was not i repeatnot 76 i been here 20 year and the most was 74 and that was years ago 

Incorrect.

It was 75.904 , so almost 76 ,    on September 6 , 2005.

 

https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-THB-2005

[mshs]

10 hours ago, ianezy0 said:

AUD is a commodity currency, much like Canada, NZ and some others. Therefore, it is tied into the Australian resources.

3 main factors have dragged the AUD in recent years.

 

1. USA/China trade war.

2. Covid-19.

3. Russia/Saudi OPEC oil price dropping.

The president's bilateral trade dictat has put the wood to 'commodity currencies'.  That will be felt when American farmers ramp up exports to the PRC from the maximum $20b of the past to $50b going forward.

 

 

 

[Laza 45]

4 hours ago, White Christmas13 said:

Why? I use some one else I pay nothing for transfers over 300 $, below that I pay 3 dollars

TransferWise has worked well for me.. no bank fees or ATM fee.. the TransferWise fee is relatively low... and it is quick.. 

[PatOngo]

5 hours ago, ericthai said:

no!! wish it was early 1998, USD hit 50's  

Wish on!

[PatOngo]

Dee Money charges 150THB for any transaction amount shipped out if Thailand! Only problem, there's an 800,000THB monthly limit.