Baht could sink even further, analyst warns

[Neeranam]

5 hours ago, lodstewart said:

50Bt to the pound sterling would be so good then 55Bt ,  back to before brexit great news for all the Brit pensioners

Not good for those earning baht with kids at UK unis. 

[Neeranam]

22 minutes ago, sandyf said:

after all the UK government will only pay the same pension as 2012.

My pension forecast has gone up a lot since then 

[SomchaiCNX]

3 hours ago, tonray said:

Prices likely only to rise on imported goods. Anything made in Thailand should not be affected much, especially in a struggling economy with waning demand.

Made in Thailand ok, but they depend mostly on imported materials to make it.

[tonray]

Just now, SomchaiCNX said:

Made in Thailand ok, but they depend mostly on imported materials to make it.

My major expenses are food and health insurance...not much gonna change there. Fresh produce and meat/fish produced locally. Not worried about inflation here...much better to have a strong dollar.

[Pravda]

5 hours ago, Albert Zweistein said:

Just the beginning.

Kinda the same thing forum experts were saying a year ago for pound and brexit. These things can reverse overnight.

 

My worthless opinion is that it's going down until tourist dollars start flowing again.. 

 

Which may be never. 

[Percy P]

5 hours ago, ezzra said:

Yeah just my luck to be holding a cr*p loads of them in the bank right now...

Then you should have used more forethought and deposited you foreign money in a Foreign Reserve Account (FRA) and not to have changed it immediately into Baht. 

[mikebell]

5 hours ago, lodstewart said:

50Bt to the pound sterling would be so good then 55Bt ,  back to before brexit great news for all the Brit pensioners

To make up for the unfeeling UK Gov freezing our pensions.

[mikebell]

5 minutes ago, Neeranam said:

My pension forecast has gone up a lot since then 

My State Pension has remained at 350 quid a month for the last 13 YEARS after working for 39 years in the UK.  If only I was French!

[scubascuba3]

Winners and losers, those holding property and thai baht are losing but good to get a better exchange rate for transfers

[Chongalulu]

I notice the absence here if those saying what a good idea it was to have 800k baht sitting untouched in the bank. Not only did you lose out pretty spectacularly on the investment returns from relatively safe stocks you could have put it in  over the past 18 months but now you have the fall in the baht. Sums languishing in a deposit account have ALWAYS been poor long term investments.

[Eric Loh]

3 minutes ago, tonray said:

My major expenses are food and health insurance...not much gonna change there. Fresh produce and meat/fish produced locally. Not worried about inflation here...much better to have a strong dollar.

Strong dollar leads to higher petrol and gas imported prices which feed into higher transportation cost and to higher price of local produce. Current oil and gas upward surge not helping too. Justification to be worried. 

[Neeranam]

2 minutes ago, scubascuba3 said:

Winners and losers, those holding property and thai baht are losing but good to get a better exchange rate for transfers

Those who are holding bitcoin and about to buy a house are winning! My agent offered me a hous this week for 7.5 million; it was 13 million a couple of weeks ago ???? 

[the green light]

It was predicted : no tourism and no major export...will bring the baht down

The expectation for this year ,we will see  Bht 34/$1 (buying rate)

 

Due to the pandemic, we will see a shortage of food product on the shelves, constructions material,  and many people out of work. 

 

The low baht has not effect on the local life in thailand.. But inflation will creep in Thailand which will make the situation quite worse.

 

 

[Neeranam]

5 minutes ago, mikebell said:

My State Pension has remained at 350 quid a month for the last 13 YEARS after working for 39 years in the UK.  If only I was French!

Strange, my forecast says720 pounds a month and I worked in the UK for only 4 years.

[Chongalulu]

14 minutes ago, Neeranam said:

My pension forecast has gone up a lot since then 

What does that even mean in context of a reply to a comment about frozen UK state pensions? Do you mean your expectations based on the Triple lock or are you referring to occupational pensions  or SIPP? 

[Rookiescot]

13 minutes ago, mikebell said:

My State Pension has remained at 350 quid a month for the last 13 YEARS after working for 39 years in the UK.  If only I was French!

Did you pay your NI contributions?

[Chongalulu]

6 minutes ago, Neeranam said:

Those who are holding bitcoin and about to buy a house are winning! My agent offered me a hous this week for 7.5 million; it was 13 million a couple of weeks ago ???? 

All that tells you is that 13 million was a fantasy price and not a realistic value .. as indeed might 7.5 million be still. The actual value is what someone agrees to buy at, something that frequently escapes many Thais who sit on unsold unrealistically priced offerings  for years thinking what they’re asking is it’s worth.

[Chivas]

3 minutes ago, Neeranam said:

Strange, my forecast says720 pounds a month and I worked in the UK for only 4 years.

I know something in that I would never burn my bridges to the UK and then get a frozen pension

Beyond me how pensioners allow that to happen when you can remain on a GPs list via website contact and use for example Boatmail as a mailing address

I know for a fact 1000's and 1000's do just that

 

(thats not aimed at you Neeranam)

[fulhamster]

5 hours ago, lodstewart said:

50Bt to the pound sterling would be so good then 55Bt ,  back to before brexit great news for all the Brit pensioners

53 to the pound the day before the vote, and 42 the day after.

Purely coincidence according to the Brexiteers

[Chongalulu]

2 minutes ago, Rookiescot said:

Did you pay your NI contributions?

He may well have paid his full NI contributions but after 13 years of no increases this £350 could be the result.

[Neeranam]

1 minute ago, Chivas said:

I know something in that I would never burn my bridges to the UK and then get a frozen pension

Beyond me how pensioners allow that to happen when you can remain on a GPs list via website contact and use for example Boatmail as a mailing address

I know for a fact 1000's and 1000's do just that

 

(thats not aimed at you Neeranam)

Interesting. I plan to retire to Scotland for 4 months a year, so should be OK. 

Many years ago, I used to go back to the UK to have free dental treatment but probably can't do that now. 

[Rookiescot]

Just now, nchuckle said:

He may well have paid his full NI contributions but after 13 years of no increases this £350 could be the result.

If it is I understand why some guys are struggling. Disgraceful that the UK government does this to its own citizens.

[Chivas]

2 minutes ago, Neeranam said:

Interesting. I plan to retire to Scotland for 4 months a year, so should be OK. 

Many years ago, I used to go back to the UK to have free dental treatment but probably can't do that now. 

Well if you remain on a GP's list (easy to do) than access to dentist is there by default albeit am not sure its free these days anyway and waiting lists are long

 

Covid has unwittingly exposed how easy it is to remain on a GP's list without ever visiting the practice. Everything done by phone and Videocall and same day consultation by "pushdoctor" which judging by what I saw online is now free

[Neeranam]

10 minutes ago, Chivas said:

Well if you remain on a GP's list (easy to do) than access to dentist is there by default albeit am not sure its free these days anyway and waiting lists are long

 

Covid has unwittingly exposed how easy it is to remain on a GP's list without ever visiting the practice. Everything done by phone and Videocall and same day consultation by "pushdoctor" which judging by what I saw online is now free

Interesting, but I doubt I am still on the GP books, I haven't bee to the doc for over 30 years!

[drenddy]

I purchase THB, I am sure it will go up, sky is the limit, but only after TAT's coming press conference.

[Neeranam]

I will continue my washing cycle -  exchange US salary to Bitcoin, wait 2/4 years, exchange Bitcoin to Thai baht, rinse and repeat. 

[spidermike007]

1 hour ago, SymS said:

It's temporary, the US dollar will continue its long term decline in a few months.

The big question is which currency will decline more? Though my bets are on the long term decline of the dollar, if I were betting on currencies right now, I would bet against the Thai baht in the medium term (next 6 months to 2 years).

 

The economy is in a shambles, tourism will not return for years, exports are way down, homelessness is exploding, the unemployment rate might be as high as 40%, and foreign investors are now scared of anything related to Thailand. 

[Sir Dude]

The elite must have spent enough overseas and acquired sufficient foreign currency... time to bring it all home and swallow up even more assets in Thailand as the time is ripe for preditory cheap aquisitions and become even richer. This obviously requires a change in the exchange rate to their favour. If they do this now, then they will be set just right for when the pandemic ends and the recovery starts. Rinse & repeat.

[Chongalulu]

23 minutes ago, Chivas said:

Well if you remain on a GP's list (easy to do) than access to dentist is there by default albeit am not sure its free these days anyway and waiting lists are long

 

Covid has unwittingly exposed how easy it is to remain on a GP's list without ever visiting the practice. Everything done by phone and Videocall and same day consultation by "pushdoctor" which judging by what I saw online is now free

Dentist registration is entirely separate to GP registration and while you can remain on GP list without visiting,as many without any illnesses can a dental practice will remove you from their list after a few years of not attending for a check up. You will pay a contribution for every dental visit (unless exempt) but never for your GP. 

[Chongalulu]

4 minutes ago, Sir Dude said:

The elite must have spent enough overseas and acquired sufficient foreign currency... time to bring it all home and swallow up even more assets in Thailand as the time is ripe for preditory cheap aquisitions and become even richer. This obviously requires a change in the exchange rate to their favour. If they do this now, then they will be set just right for when the pandemic ends and the recovery starts. Rinse & repeat.

Heard the expression in investment terms 'catch a falling knife' ?