A seriously new low for the Australian dollar

[TechnikaIII]

16 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.

The cost of living in Australia may surprise you. It's not cheap, and take your own toilet paper. The one thing in Melbourne you can be sure of, is a good coffee, especially in Block Lane. But check to see what the quarantine restrictions are before you go. You may find yourself a 2-week lock-down.

[Salerno]

2 minutes ago, TechnikaIII said:

But check to see what the quarantine restrictions are before you go. You may find yourself a 2-week lock-down.

No "may" about it.

[TechnikaIII]

17 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.

What's this 'cobber' nonsense? Every time I am in the UK, I am amazed at how totally retarded is the stereotypical view of Australia, and so many can't wait to real off their archaic cliches, competing to be the 'funniest' in the room. 

Never mind, thanks for your input. 

 

 

 

Edited March 17, 2020 by TechnikaIII
vocabulary correction

[TechnikaIII]

Regarding transfer fees, I save myself that problem by having a Citibank account in Australia, so there are no fees when I use the Citibank ATM at Sukhumvit. Then before heading North to my province, I deposit into the GSB at Hua Lamphong, to save carrying too much cash. 

 

[Pravda]

Hittin' new lows.

 

And so are my posts.

[Mulambana]

13 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.

Yes, every time I compare prices in Thailand, I find it almost equal to the US prices. Even cars. Was shopping for new car Toyota Yarris. Same price as in the US. When made locally, it should be be cheap (less labor cost) but it is not.

[Advocate]

A$ will head below US$ 0.50 where it has been in the not so distant past. Could be A$ 1 = Baht 15.

 

Brexit and Covid19 will crush the GBP to 25-30 Baht or less.

 

Currently the biggest businesses in Australia is flipping houses and manufacturing excuses.

 

Mining, coal, oil, and gas are severely affected by declining demand in China.

 

Thailand is weathering the Covid19 better than Europe and the USA.

 

 

[TechnikaIII]

12 minutes ago, Advocate said:

A$ will head below US$ 0.50 where it has been in the not so distant past. Could be A$ 1 = Baht 15.

 

Brexit and Covid19 will crush the GBP to 25-30 Baht or less.

 

Currently the biggest businesses in Australia is flipping houses and manufacturing excuses.

 

Mining, coal, oil, and gas are severely affected by declining demand in China.

 

Thailand is weathering the Covid19 better than Europe and the USA.

 

 

The "Brexit effect" if any, will be minimal and brief. The UK economy is set to strengthen once we have complete autonomy, control over our own borders. Restoration of the UK fishing fleet alone, will have a positive effect. The sense of wellbeing from restored sovereignty will be significant. Needless to say, Brussels will do everything possible, hitting below the belt, to sabotage everything, because they know we are right to get out, but can not accept it. Other countries will follow suit very soon and the sooner the better. The only ones who 'need' the EU are those running the whole sham. They are obsessed with power and their disgusting pay packets and exorbitant perks. They squander our money in the most decadent manner.

Edited March 18, 2020 by TechnikaIII
Added text.

[Neeranam]

3 hours ago, TechnikaIII said:

The cost of living in Australia may surprise you. It's not cheap, and take your own toilet paper. The one thing in Melbourne you can be sure of, is a good coffee, especially in Block Lane. But check to see what the quarantine restrictions are before you go. You may find yourself a 2-week lock-down.

It's costly, yes, especially where my sister lives in Hampton, 3 minute walk from the beach.

[Neeranam]

19 hours ago, Mavrix said:

Great spot...l use to holiday at nearby Queenscliff as a kid...... doing up the golf course there as well...looks fantastic.

Great fish n chips there, been a few times.

[Lacessit]

14 hours 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. I imagine you are in that same boat, and perhaps to greater degree.

The Chinese economy is second only to that of the USA, and fast overtaking it. You can't have a stutter in that economy ( coronavirus ) without a domino effect. Supply chains everywhere are disrupted. China produces about 90% of the world's antibiotics, and 95% of the rare earths used in smartphones etc. Like it or not, we are all dependent on China to some degree.

[Lacessit]

3 hours ago, TechnikaIII said:

The cost of living in Australia may surprise you. It's not cheap, and take your own toilet paper. The one thing in Melbourne you can be sure of, is a good coffee, especially in Block Lane. But check to see what the quarantine restrictions are before you go. You may find yourself a 2-week lock-down.

Not "may" You WILL.

[Lacessit]

14 hours 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.

 

The Australian dollar is a proxy for the Chinese economy, because we ship so much minerals  ( iron ore, coal, natural gas ) to China, and right now the Chinese economy is frozen. I'm forecasting it will recover when the Chinese economy does, in about 6 months.

Pace the pedants who say natural gas is not a mineral.

 

[Mac98]

18 hours ago, PlastikbinLina said:

When I first came here in 1992 it was struggling to make 20 baht/$1.00.Aust. No doubt it will rise again until the next covid19 appearance in 2026.

 

20 to the dollar in 1992 but so were the girls.

[Berkshire]

1 hour ago, Mulambana said:

Yes, every time I compare prices in Thailand, I find it almost equal to the US prices. Even cars. Was shopping for new car Toyota Yarris. Same price as in the US. When made locally, it should be be cheap (less labor cost) but it is not.

Hmmm....cars are way more expensive in Thailand than the USA, along with imported consumables.  But just about everything else is cheaper, including medical services, local food, land/houses, apartments, dental...anything tied to Thai labor. 

[zaZa9]

KBank offering even less today...

[Advocate]

1 hour ago, TechnikaIII said:

The "Brexit effect" if any, will be minimal and brief. The UK economy is set to strengthen once we have complete autonomy, control over our own borders. Restoration of the UK fishing fleet alone, will have a positive effect. The sense of wellbeing from restored sovereignty will be significant. Needless to say, Brussels will do everything possible, hitting below the belt, to sabotage everything, because they know we are right to get out, but can not accept it. Other countries will follow suit very soon and the sooner the better. The only ones who 'need' the EU are those running the whole sham. They are obsessed with power and their disgusting pay packets and exorbitant perks. They squander our money in the most decadent manner.

Trump's support for the fragmentation of the EU is a win for Putin.

 

Together the EU is in a strong bargaining position against all, including the USA.

 

States fragmenting from the EU are weak and vulnerable to pressure from US and Russia. They can be picked off one by one by Russia or the USA seeking to gain advantage over a fragmented former EU member.

 

The UK is weaker outside the EU than inside by virtue of having lesser, or zero influence over EU decisions.

Edited March 18, 2020 by Advocate

[White Christmas13]

10 hours ago, zaZa9 said:

I pay $20 aud for any amount transferred.

Ive no idea why Transferwise has all these recommendations.

As I said before if I transfer 300 AUD I pay nothing and below 300 AUD

I pay only 3 dollars, and no bank fees whats so ever.

[ozfarang]

@zaZa9 well spotted.

 

The high was Jan 98, just come back from Specsavers.

 

https://au.investing.com/currencies/aud-thb

Edited March 18, 2020 by ozfarang

[emptypockets]

Now 18.86 on the app I use.

Very sad.

Expect it to be lower tomorrow.

Edited March 18, 2020 by emptypockets

[HOAX]

The Norwegian Kroner seems to be crashing.

 

1 NOK was worth 5.50 THB 5 years ago

1 NOK was worth 3.45 THB 1 week ago

1 NOK is now worth 2.88 THB

 

Worrying, and I have to go get a financial requirement approval stamp from the Embassy in a week for my yearly renewal of Marriage visa to prove I'm earning 40k+ a month, which is going to be a problem if it continues down much further.

 

My only hope is that Stage 3 in this virus crisis will close the Embassies and that there will be understanding for expired visas or that we can get temporary extensions at immigration office.

Edited March 18, 2020 by HOAX

[ChaiyaTH]

I figured how bad it was when considering a Working Holiday Visa in Australia. Would really be 20-25K baht a month less in savings with the current rate.

[ChaiyaTH]

42 minutes ago, HOAX said:

Worrying, and I have to go get a financial requirement approval stamp from the Embassy in a week for my yearly renewal of Marriage visa to prove I'm earning 40k+ a month, which is going to be a problem if it continues down much further.

Well be happy you need to get it soon already, could be under it next year. My embassy didn't even have appointment slots until april 9th.

[pookondee]

On 3/17/2020 at 11:19 PM, 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.

 

I dont think it is the money market per se, but peoples reaction and lack of confidence in Australia and its government s decisions.

For years they have been dropping rates and encouraging more people to borrow.

its pure idiotic bandaid measure that will soon have everyone broke, especially now jobs will be lost through this corona thing.

 

Many people warned about dropping rates so quickly and then having nowhere to go if/when a crisis hits.

 

well now is that crisis and Australia is now fบcked.

 

Investors and savers earning nothing for saving money, and more in debt than ever.

 

Along with that, if people have no confidence in the ASX where does it leave us. 

kiss your superannuation good buy if this keeps up.

 

It will soon get so bad that the government will realise, the ONLY resort will be to

BAIL OUT THE PEOPLE

instead of the GREEDY banks and rich corporations.

 

 

[ThaiBunny]

3 minutes ago, pookondee said:

I dont think it is the money market per se, but peoples reaction and lack of confidence in Australia and its government s decisions.

For years they have been dropping rates and encouraging more people to borrow.

its pure idiotic bandaid measure that will soon have everyone broke, especially now jobs will be lost through this corona thing.

Indeed, Australia is completely different in that regard. Quantitative Easing - Australia led the way. Oh, wait, that was the USA. Almost zero interest rates? Australia too. Oh, wait - that was the USA & the EU

[pookondee]

3 minutes ago, ThaiBunny said:

Indeed, Australia is completely different in that regard. Quantitative Easing - Australia led the way. Oh, wait, that was the USA. Almost zero interest rates? Australia too. Oh, wait - that was the USA & the EU

Yes, they (the Aus gov) have followed US and EU blindly.

 

Of course it will be sheeple government, when its made up of clueless sheeple that cant think for themselves and certainly cant think for the good of the long term future.

 

Can anyone remember 10-15?? years ago,

the "debt ceiling crisis"?

and the debt ceiling summits they had in the US?

They knew then what a HUGE problem this was all going to be, yet the whole thing went hush hush, never to be spoken of again.

 

They dropped rates and started printing money around the clock.

 

The trouble is everyone got addicted to cheap credit and when that happens 

ALL the money eventually filters back to the few rich.

 

Of course the sheeple governments loved the artificially high growth figures being churned out,

trouble is, it was all being fuelled purely by getting more and more people into debt.

 

This new crisis now means 1000s will be out of work and loans will defaulting everywhere.

The banks cant possibly hope to foreclose on the huge numbers that will default, otherwise there will be mass rioting worldwide. 

 

The only way i can ever see it being fixed is if governments find some way of fairly writing off a certain proportion of all individuals debt.

By that i mean wiping off a portion of ALL peoples debt and homeloans.

Lift rates to a % that discourages more lending and start it all again.

 

-Hell will freeze over though, they will just keep bailing out banks and letting directors make off with millions

 

[HOAX]

3 hours ago, ChaiyaTH said:

Well be happy you need to get it soon already, could be under it next year. My embassy didn't even have appointment slots until april 9th.

I just learned the Norway Embassy closed noon on Tuesday. No mention when it will open again, and when it normally is open it's only open 4 days a week for 3 hours per day.

 

Some strange times we live in. What am I even suppose to do, there are no flights going back to Norway even if I wanted to leave.

[AussieBob18]

On 3/18/2020 at 2:37 AM, zaZa9 said:

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

[AussieBob18]

Just now, AussieBob18 said:

 

Very noticeable is that after the Junta took power in 2014, that the AUD has been on a never ending decline ever since.

IMO it has been a very deliberate and calculated move to increase the value of the Baht - helped by the trade surpluses.

 

 

[baansgr]

Cash is being put into the Greenback...AUD and Sterling both suffering...realistically could be down to 15 in the next week or so. Sterling lost 10% injust over a week and still heading South.