It's getting cheaper to live in LOS.

 

Six months ago to bring in 65,000 baht (monthly requirement) it cost $2170. Now the same amount costs $1970. That's $200 a month less in just six months.

 

I've seen very little inflation in LOS in the 10 years I've lived here. My rent is the same as when I signed the lease 5 years ago. If anything I could get it cheaper now. 

37 minutes ago, scoupeo said:

how many of you will transfer a lot of money if it's going very low ?

I will transfer at least $100000 USD that I do not want to be stolen by my western government to pay for all the covid tests and treatments made for the idiots who were too stupid to protect themselves !

 

Well that is hard as its western government investment through taxes for  higher education, leading universities, global biosciences, well trained scientists & doctors & which led to AZ (UK),Pfizer ( Germany & USA) Moderna (USA) preventing millions of more deaths. Moreover its well taxed countries like Westen Europe including Scandinavia, Germany, Austria, Holland, France, Belguim, Ireland and UK who have the facilities to treat most patients facing horrendous breathing problems in the ICU. UK made some mistakes with the Johnson idiot but over 80% vaccinated now. People in better taxed countries live longer as with Finland, Sweden, Denmark & Germany. 

 

Yes some people ignored the rules and yes sadly less informed, non college Americans are dying more in the Trump states because they swallowed the utter Far Right nonsence that wearing masks or having vaccines is somehow according to Trump types over the top. 

7 minutes ago, sitti said:

LOL year after year, every time there is an article about Baht weakness (temporary), there are always doomsayers stating this is it, this is the end of Thailand. Thailand is a failed state????

 

Weak Baht is what Thailand actually wants. They have been wanting it for years. In the past when Thailand tried to artificially decrease the Baht value, US labeled Thailand as currency manipulator. However look at what US has been doing ????

 

I do hope Baht becomes even weaker and stay there. That would be really good for country's economy in a long term. But I seriously doubt that would be the case.

The thing is, as a country's economy does better, its currency tends to rise.

17 hours ago, AnotherFarang8 said:

Tourists will need to pay for that

 

Tourists, working man, pensioner,  commoner.     Aren't these always the people  who end  up paying?

 

 

Still to expensive and the price is higher than it is worth. But it is still because the Thai government bought it with gold when they took power I heard. But hopefully Thailand is soon out of gold reserves and it will go back to what it is worth.

18 minutes ago, DjSilver said:

Still to expensive and the price is higher than it is worth. But it is still because the Thai government bought it with gold when they took power I heard. But hopefully Thailand is soon out of gold reserves and it will go back to what it is worth.

Thailand increased their gold reserves by 90 tonnes (from 154 to 244) in April and May of this year.  Make of that what you will.

 

https://www.bullionstar.com/blogs/ronan-manly/thai-central-bank-leads-pack-buying-90-tonnes-of-gold-over-april-and-may/

I’m far to dumb to pretend to understand economics other than to say I would much prefer to be getting 27+ baht to the dollar when I transfer money into-country than the terrible rates I’ve been getting for some years now. I for one would spend a lot more in-country if I was seeing rates like that again.

4 minutes ago, Tropposurfer said:

I’m far to dumb to pretend to understand economics other than to say I would much prefer to be getting 27+ baht to the dollar when I transfer money into-country than the terrible rates I’ve been getting for some years now. I for one would spend a lot more in-country if I was seeing rates like that again.

You mean you were getting less than 27 baht to the dollar before this?

10 minutes ago, placeholder said:

You mean you were getting less than 27 baht to the dollar before this?

 

... dollares australiensis?
 

Thailands Bad news makes wonderful reading.

 

Still a long way to go for all the greed and scamming down the years.

3 hours ago, Nong Khai Man said:

But It WAS Very Close to the 100,I Remember getting 92 for ONE Day in Pattaya in 1997.....So There !!

That is correct i remember exchanging  travelers cheque in a bank in Pattaya and the rate was in the high 90s

1 hour ago, Eric Loh said:

Consumer price index is a reflection of changes in cost of an average consumer purchase of a basket of goods and services. Not sure this can be used as a direct indicator for tourist spending. Just my opinion and not discounting that you may be right. 

Thanks for you reply. I was not referring to tourist consumption, but indicating the domestic inflation in consumer prices compared to currency exchange rates.

 

When the baht is cheap tourists get more baht for their money, not meaning they spend more, but Thailand might become more interesting for a higher number of tourists. Despite the increase in total nummer of arrivals up til just before the Covid-situation, the number of Western tourists were declining during the same period that the baht became more expensive, especially European tourists, and European money suffered from 15+ percent lower exchange value.

The consumer price index however shows, that the domestic prices in general average were almost unchanged, i.e. around 2 percent during the same period.

My point is, that more baht for the dollar, and other foreign currencies, might well generate more turnover from tourism - if a major reason for the decline in Western tourism were mainly caused by less baht per foreign currency unit - and more export of goods, which also become more attractive to buy.

 

So that the baht weakens its value a bit, might in general not be a problem, perhaps even a benefit...????

3 hours ago, Nong Khai Man said:

92 For ONE Day in '97 Also....

According to fxtop.com, it never got above 80 at any point in 1997. They show that its highest ever rate was just below 91 (90.6745) in January 1998.

 

Pound to baht historical exchange rates

 

 

Needs to fall another 30%+ but 10% is a good start, Im happy as my pension is in ££,£££'s and the pound sterling is getting stronger by the day as the UK comes out of Covid19 restrictions.

Long may it continue!!????????

34 minutes ago, JohnHans said:

my pension is in ££,£££'s 

Same here. I see the Bangkok Bank TT Buying Rate has hit 45 as at 13.05 today, which makes me a happy bunny. I recall a low of 36 in the not too distant past, that hurt. I'd be looking at 50 to be completely satisfied, which was the rate immediately preceding Brexit, if I remember correctly. Of course, like many, I'm nostalgic for past halycon days, I recall getting 68 on a sizeable, well timed, cash transfer, some millions of baht, but I'm assuming those days are lost and gone forever.

1 hour ago, GroveHillWanderer said:

According to fxtop.com, it never got above 80 at any point in 1997. They show that its highest ever rate was just below 91 (90.6745) in January 1998.

 

Pound to baht historical exchange rates

 

 

Thankyou - I tried to tell him.....but noooooo.

1 hour ago, Irate priest said:

That is correct i remember exchanging  travelers cheque in a bank in Pattaya and the rate was in the high 90s

More flannel - never been high 90's - I  wish! 

 

Hard partying can alter reality but that's OK.

2 hours ago, Airalee said:

Thailand increased their gold reserves by 90 tonnes (from 154 to 244) in April and May of this year.  Make of that what you will.

 

https://www.bullionstar.com/blogs/ronan-manly/thai-central-bank-leads-pack-buying-90-tonnes-of-gold-over-april-and-may/

A lot of countries have done the same.

4 hours ago, placeholder said:

How many times have we heard that explanation and prediction before. No inflation is rising because of bottlenecks in supplies and, in the USA, at least, shortages of labor. . Computer chips are just one example. Those bottlenecks will work  themmselves out out over the course of a year. 

If you have heard that before multiple times, then you might wonder why that is? There are no shortages of labour, there are shortages of people willing to work, as long as these free handouts are flying about. Supply bottlenecks may ease but inflation won't.

 

 

 

4 hours ago, spidermike007 said:

Thailand is a failing nation, on a dozen different levels. Just wait. We are headed toward Burundi status. This current economic disaster is mostly self made, and it will result in the utter destruction of the tourism industry, permanently. As well as countless other areas, withdrawal of foreign capital and investment and millions of broken families due to financial hardship. The dread is only beginning. The sabotage is nearly complete. 

This current economic disaster is mostly due to Covid.

 

Enjoy Burundi, the après ski is supposed to be great!

Just now, nauseus said:

If you have heard that before multiple times, then you might wonder why that is? There are no shortages of labour, there are shortages of people willing to work, as long as these free handouts are flying about. Supply bottlenecks may ease but inflation won't.

 

 

 

Really? Is that way unemployment went up in June even after many states cancelled enhanced benefits during that month?

7 minutes ago, nauseus said:

This current economic disaster is mostly due to Covid.

 

Enjoy Burundi, the après ski is supposed to be great!

If you do your research, you will see that despite what the authorities have been saying, the economy here has been shrinking for the past five years, or more. So, these problems started long before Covid. However, they now have a very convenient scapegoat! And I am not headed to Burundi, but Burundi like conditions seem to be headed here.

4 minutes ago, placeholder said:

Really? Is that way unemployment went up in June even after many states cancelled enhanced benefits during that month?

Really. 

 

Now, if the US unemployment rate went up. how does that tally with your supposed labour shortage? 

4 minutes ago, spidermike007 said:

If you do your research, you will see that despite what the authorities have been saying, the economy here has been shrinking for the past five years, or more. So, these problems started long before Covid. However, they now have a very convenient scapegoat! And I am not headed to Burundi, but Burundi like conditions seem to be headed here.

Maybe you should do your homework before suggesting that others do theirs:

https://tradingeconomics.com/thailand/gdp

5 minutes ago, spidermike007 said:

If you do your research, you will see that despite what the authorities have been saying, the economy here has been shrinking for the past five years, or more. So, these problems started long before Covid. However, they now have a very convenient scapegoat! And I am not headed to Burundi, but Burundi like conditions seem to be headed here.

Quick bit of research:

 

 

https://tradingeconomics.com/thailand/gdp

 

Answers on postcards please.

2 minutes ago, nauseus said:

Quick bit of research:

 

 

https://tradingeconomics.com/thailand/gdp

 

Answers on postcards please.

Snap!

4 minutes ago, placeholder said:

Maybe you should do your homework before suggesting that others do theirs:

https://tradingeconomics.com/thailand/gdp

At least we agree on something! ????

3 minutes ago, nauseus said:

Really. 

 

Now, if the US unemployment rate went up. how does that tally with your supposed labour shortage? 

Didn't you claim this?

 There are no shortages of labour, there are shortages of people willing to work, as long as these free handouts are flying about.

Well, those "free handouts" disappeared. What happened?

Lots of people still aren't willing to risk infection to go back to work. There's lots of loons out there who refuse to be vaccinated. And lots of people have children whom they can't get alternate care for.   And employers aren't offering enough to tempt them.

Hardly surprising with the shambolic vaccination programme and people pulling money out left, right and centre.

Good news for us British expats following the collapse of the GBP since the Brexit vote, over 45 for the last few weeks, good for topping up the Thai bank account.

21 hours ago, Mac Mickmanus said:

Nearly all prices within Thailand will remain the same . 

Foreign currencies have risen by 20 % , meaning everything will be 20 % cheaper for those exchanging into Baht

Indeed, this is precisely what happened in the UK in the aftermath of the Brexit referendum in 2016. Sterling tanked in value quite substantially, yet there was minimal consequential impact on UK inflation. So foreign visitors exchanging into sterling from the likes of the dollar, euro, etc had a field day!