How much has you currency lost for you in total the last 5 years against the baht?

[Neeranam]

When I moved here in Oct 92, I only got 37 baht to the pound.  It's all good, there were some great years when I was getting some US$ but now earning Baht, I'm happy as I pay for 4 travelling to the UK on holiday every year.. 

[foreverlomsak]

On 12/17/2020 at 8:32 PM, sammieuk1 said:

-27% for the £ ????

Circa Dec 2005 it was 70 BHT/GBP it is now sitting just above 40 that would need a 75% increase from today to get back to 70, the amount of complaints I've had from USA citizens re the reduction in their spending rate doesn't compare with a high of 36 and a current  rate of 30 they would only need to have a 20% increase. I think the UK has been the worst hit currency.

As said in other post the rates are what they are you just have to tighten the belt or B### Off elsewhere, just think of the increased value of your money if you transferred in back to home country, when I transferred my 800k from the UK it cost me roughly 12k GBP, if I sent it back today I would get roughly 20k GBP or 2/3rd more.

[Kwasaki]

1 hour ago, shackleton said:

Are you winding us up with you can live on 15 baht to the pound

You must have good pensions 

I would prefer a bit higher but that's me 

Not at all Its my bottom line for my life style, but there would not be any savings to replace things like another truck.

Everything is bought and paid for and our monthly expenses are small and even without me my wife can take of both of us at 1 baht to the pound if you can grasp that.

[Awinkl]

I recall that 1 AUD$ was as high as 31 Baht - and it doesn't seem that long ago, while as recently as last year, it was down to 21 Baht!!?? So, it has fluctuated between 25-30 % and that certainly showed, that Thailand is no longer the CHEAP Holiday??

While the lower Xchange rate doesn't really hit you on a day-to-day basis, it does make a HUGE difference when you go the Xchange $1000.00 - then, the difference really hit's HOME!!

[Colabamumbai]

Canadian Dollar high 31 low 22, lost 25%, since 1991.

[arick]

Nothing I gained 30 percent by tranfering  all my UK pounds out of the UK before the brexist vote. It was 56  also gained a on the CDN 

[red roger]

19 hours ago, Andy from Kent said:

 

I believe you missed the point entirely or possibly you're' just being silly  or  polemic.

 

Would you be happier with the question ' "over the past five years, by how much has your buying power eroded with the continued  strengthening of the baht"?

 

Now there isn't a single work in this post that indicates a negative attitude.    It is merely a question.   One can choose to like or not like the facts.

 

Satisfied?

Góod riposte Andy.

I estimate that the Brexitloons owe me around 10k GBP since June 24th 2016 the day that the GBP plummeted in value by 25 per cent as predicted by Project Fea..sorry Reality.

 

[Farang99]

On 12/17/2020 at 8:32 PM, sammieuk1 said:

-27% for the £ ????

Same for me

[Farang99]

Just now, Farang99 said:

Same for me

When I arrived here in 1997 the baht was in collapse from the Asian banking crisis - all those non-performing loans. I could get £1 = 90 baht briefly, but then it settled around 70 baht. Ever since the £ has been in steady decline, though it held for a few years around 50. Now 40 seems about the best one can hope for.

[red roger]

20 hours ago, Andy from Kent said:

 

I believe you missed the point entirely or possibly you're' just being silly  or  polemic.

 

Would you be happier with the question ' "over the past five years, by how much has your buying power eroded with the continued  strengthening of the baht"?

 

Now there isn't a single work in this post that indicates a negative attitude.    It is merely a question.   One can choose to like or not like the facts.

 

Satisfied?

Góod riposte Andy.

I estimate that the Brexitloons owe me around 10k GBP since June 24th 2016 the day that the GBP plummeted in value by 25 per cent as predicted by Project Fea..sorry Reality.

 

[CorpusChristie]

6 minutes ago, red roger said:

Góod riposte Andy.

I estimate that the Brexitloons owe me around 10k GBP since June 24th 2016 the day that the GBP plummeted in value by 25 per cent as predicted by Project Fea..sorry Reality.

 

 

  Well, the Baht fell from 52 Baht to the Pound to 48(Whats that , 7 %? ) Baht to the Pound and stayed that way for a few months , the Pound began to decline further when there was confusion over whether the UK would leave the E.U , which was because Remainers trying to get the vote overturned .

  Also the strong Baht is also a reason for the Pound current poor showing 

[CorpusChristie]

55 minutes ago, Farang99 said:

Same for me

 

  Me too as well, what a coincidence that is 

[RocketDog]

On 12/17/2020 at 8:12 PM, Pilotman said:

what an odd title.  Nobody has 'lost' anything,. it is what it is. 

 

I could say that I saved 10 million Baht today,  because I didn't go out and  buy a Ferrari.  Same odd logic. 

Your analogy would be better if one was being forced to buy a car once a year but it increased in cost the week before you bought it. It could be said that your delay lost you money. As the end of your year approaches and the car price increases the cost of your delay will become clear in hindsight. 

 

Timing is important. 

 

Most expats MUST exchange their foreign currency for thai baht once or more times each year. 

 

In my case I came to the Kingdom in late 2016 and exchanged USD at ~35฿/$. It's gone down steadily since then. I had and could have exchanged enough money in 2016 to live here for ten years if I wanted to, but I didn't. From my perspective I lost money since I'm still here and plan to stay for the duration. 

 

I won't dispute that there is more than ample reasons why the USD should and has declined though. In fact I have been steadily moving assets out of America for the last few years.

 

People who think Thai or Singapore banks are more risky than American ones are not paying attention to world events. The decline of the USD is well underway and won't stop any time soon, if ever. At this point for me it's not about making money, it's all about preserving it. 

 

I opened a bank account in Singapore 6 years ago without visiting the country. Now it's all but impossible for Americans to open an account and a visit is mandatory to even try. Timing is important. 

[kokesaat]

We retired to Thailand in 1996......25 Baht to the dollar.  It had been that way for some time, and we figured it was going to stay that way.  The Baht crashed....we built a house, furnished it, and stashed some cash in Thai banks.  It's been all gravy since then.  If the Baht went back to 25 to 1, we'd be back where we started.  Living overseas with any foreign currency carries its risks.  That's why it's good to have a plan b in your hip pocket.

[Ajarnbrian]

Currency exchange rates are always changing, usually slowly, sometimes more quickly. You may benefit or lose from those changes. Don`t assume these rates will not change. Don`t sweat on any rate changes. 

[Andy from Kent]

On 12/18/2020 at 11:54 AM, Saltire said:

The dilemma is should I transfer a large sum now to Baht or wait and see?

 

Unfortunately there is no answer to this.

 

 

 

Exactly!

 

A crystal ball would be most helpful.

 

 

[Alex2554]

[Leaver]

On 12/17/2020 at 8:12 PM, Pilotman said:

what an odd title.  Nobody has 'lost' anything,. it is what it is. 

 

I could say that I saved 10 million Baht today,  because I didn't go out and  buy a Ferrari.  Same odd logic. 

 

Various currencies have lost purchasing power here.   

[Pilotman]

1 minute ago, Leaver said:

 

Various currencies have lost purchasing power here.   

depends what you buy with what currency you have and from where it originates. 

Edited December 20, 2020 by Pilotman

[Leaver]

50 minutes ago, Pilotman said:

depends what you buy with what currency you have and from where it originates. 

Hence the use of the words "various currencies" and not all currencies.  

[rumak]

Does ANYONE  here really think they understand or can explain the world of finance ?    ok,  wrong question

 

this from Rumak's Simplified Explanation of Life  :     ( the Parody edition) 

 

I come from quite an influential family.  Not that we are really anything special,  but my uncle (Sam) invested all

his savings long ago in two things.  The world's biggest printing press .   And the most deadly armaments available.       

So for a long time our family had good ties with almost everyone.   They would raise crops, chickens,  build appliances,

cars,  even fix and service all our stuff . In exchange we would "trade " an agreed upon amount of paper that could be bartered with other people like themselves............   Now everyone else was not as fortunate.  They had no printing press , and

if they even tried we just blew it up     ha   ha. .     We faithfully dished out portions of our printed toilet  promises of

trust to the population and encouraged all to trade the paper for "things"  as they saw fit,  or as the market would bear .  All in good faith and in god we trust, of course.    Worked ok for a while .

 

AHH,  but one day a bad guy ,  black sheep of the family , was born.   He grew up and snuck into the printing vault and turned the switch on full speed ahead.    Trucks were backing up day and night filling up with more paper than anyone could ever imagine.  Adding zeros to the amount could not even keep up with the actual amount !

So what happened to these trucks full of dreams and riches?   Well,  you see they ended up in a small little country club amongst a very small group of gangsters.   

This process continues to this day.................   My grandpas 25 K  dollar house now costs 750 thousand dollars.

And still people ask that silly question... "why is my currency losing its value"  

Ooops,  gotta go .     Time to feed the chickens

 

 

[Leaver]

1 hour ago, rumak said:

Does ANYONE  here really think they understand or can explain the world of finance ? 

Do you really need to understand finance when you see a 3rd World Country's currency remaining strong, in fact, gaining, whilst there is a global pandemic, and that country relies on tourism to the tune of 17% of GDP, not to mention how many the tourism industry employs, either directly, or indirectly.  

 

The baht is kept artificially high to benefit the minority here.  There will be some offshore bargains to be had by wealthy Thai's, while the baht is up, and the world economy is reeling.   

[worgeordie]

It's not just the currency hit we are experiencing , but also the monies

you have deposited in Thai Banks(well any bank really), the interest

rates given are virtually non existent.how the World has changed.

 

regards Worgeordie

[vibration]

When I came here in 2004 and bought a house and got 6.3 THB for each NOK and now I get approx 3.3 THB for 1 NOK.

 

Some websites also predict it will fall below 2 THB for 1 NOK in the next 5 years so for me it is a huge loss I am however very fortunate in that my pensions are quite high.

 

I may research and start investing in bitcoins.

[GMajor]

On 12/18/2020 at 4:20 PM, EricTh said:

 

So does that mean USD has weakened the most and EUR the least against the Thai baht?

 

 

Yep, exactly.

[Susco]

On 12/18/2020 at 4:16 PM, GMajor said:

5 years

• -20% USD
• -15% AUD
• -12% CAD
• -  9% EUR

 

The Euro has recovered a lot in the past 12 months, while the Dollar has lost a lot during the same time

 

End of December 2019 the Euro was 10% lower than today.

 

24/12/2019

 

Today

 

[JAS21]

Well we bought our house in 2005 when the exchange rate was 72thb/1gbp ... it is now 40thb/1gbp ... not exactly good!   We moved here full time in 2007. During that period I think the US Dollar dropped from about 40 to 30.

[Susco]

3 minutes ago, JAS21 said:

Well we bought our house in 2005 when the exchange rate was 72thb/1gbp ... it is now 40thb/1gbp ... not exactly good! 

 

It's good. You have lived in your house for 15 years, can now sell it at almost half the price you bought, and get the same amount in pounds back

[JAS21]

7 minutes ago, Susco said:

 

It's good. You have lived in your house for 15 years, can now sell it at almost half the price you bought, and get the same amount in pounds back

I'd love to sell the house and buy a Condo by the sea, unfortunately MrsJ is not too keen on that idea and we certainly have no intention of going back to the UK to live ... in fact we haven't been back since we left!!!!!

 

Maybe I should change from JAS21 to STUCKINBK ....????

[Ron jeremy]

49 minutes ago, Susco said:

 

The Euro has recovered a lot in the past 12 months, while the Dollar has lost a lot during the same time

 

End of December 2019 the Euro was 10% lower than today.

 

24/12/2019

 

Today

 

Canadian has lost 25 percent 

not 12

australian more