GBP Sterling dropping like a stone ?

[CharlieH]

I see the GBP DOWN to 42.89 ! a rapid decline from the 44 of last week.

 

 

 

 

[Boomer6969]

Well, it is time to buy some Thai Bahts.

[RmcaIssan]

Simple , Thai bath is tightly locked to the US $ ..so if £ down again the $, as it is significantly, it will also be down against the baht !!

 

 

[Kwasaki]

It came back up a bit. 

[scubascuba3]

16 minutes ago, RmcaIssan said:

Simple , Thai bath is tightly locked to the US $ ..so if £ down again the $, as it is significantly, it will also be down against the baht !!

 

 

Not true at all

[KannikaP]

23 minutes ago, RmcaIssan said:

Simple , Thai bath is tightly locked to the US $ ..so if £ down again the $, as it is significantly, it will also be down against the baht !!

 

 

Really? 21Feb 32.4, today 34.3. Tightly locked?

[sammieuk1]

Against anything I have done before I reluctantly changed a years plus money at 45.5 in late December early January fully expecting to take a hit for once I got it right what a dog since brexit the sniveling pound has become ????

[Chivas]

Sterling is heavily down against the US Dollar on one side of the pairings and is the sole reason our Sterling/Baht rate has diminished

 

(Sterling/Dollar) x (Dollar/Baht) is the number crunch.

 

Movement in either pairing effects the bottom line

 

Baht itself is the weakest its been for around 5 years it should be added at around 34.30 give or take

Edited May 4, 2022 by Chivas

[Chivas]

1 hour ago, RmcaIssan said:

Simple , Thai bath is tightly locked to the US $ ..so if £ down again the $, as it is significantly, it will also be down against the baht !!

 

 

It floats against the USD and has done since 1997

 

[sanuk711]

1 hour ago, RmcaIssan said:

Simple , Thai bath is tightly locked to the US $ ..so if £ down again the $, as it is significantly, it will also be down against the baht !!

Tightly locked how....... ??

[foreverlomsak]

1 hour ago, RmcaIssan said:

Thai bath is tightly locked to the US $ .

that used to be the case, but if you had listened to Americans a few years ago you would have heard them bemoaning the fact that they had lost 15% of their income due to changes in the exchange rate, at least some of those local to me were.

[keithsimmonds]

Jan 22 Gbp to Usd 1.35       Gbp to baht 44.67      Usd to baht 33.39

 

Gbp to Usd now is 1.25

[Stocky]

UK has a shed load of problems, GBPeso will no doubt drop further unless the BoE starts ramping up interest rates significantly.

[BudRight]

The dollar is strengthening on expectations of a tighter money supply from the US Federal Reserve.

[Chivas]

@KannikaP

 

What are you confused about this time ??

Baht in light of the Asean crisis was floated to find its own level in 1997

 

[KannikaP]

1 minute ago, Chivas said:

@KannikaP

 

What are you confused about this time ??

Baht in light of the Asean crisis was floated to find its own level in 1997

 

Sorry, a misunderstanding of floats and locked. Cheers.

[Chivas]

35 minutes ago, keithsimmonds said:

Jan 22 Gbp to Usd 1.35       Gbp to baht 44.67      Usd to baht 33.39

 

Gbp to Usd now is 1.25

In a nutshell re Sterling'Dollar.....in fact it would be even worse if the Baht hadn't weakened out against the USD as well

[RmcaIssan]

8 hours ago, scubascuba3 said:

Not true at all

Wrong ..you're not comparing like for like ..the graph axes are misleading ..

Simple .when £ is $1.32 ..thai baht is about 44.60/45.00

Now £ is $1.25 bath is 42.90 (the baht has slipped slightly against the $ otherwise the exchange would be worse)

If £ recover against $, so also will the baht exchange ..

Thai maintain close parity with the $ to reduce the impact of high oil prices ..my guess !!