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Posted

Can someone explain why media outlets like Bangkok Post insist the baht is weakening when week on week it's exchange rate against the UK pound is going down. Surely the GBP isn't weakening too? The rate has been pathetic ever since Covid arrived, for one brief moment a year ago it touched 46 baht - £1, but now is continually slipping to 42,6 baht - £1 this morning.

 

Given Thailand repeatedly borrows money to stay afloat, owes trillions, has no appreciable tourism industry any more, doesn't seem to export much according again to Bangkok Post and is pouring money into arms and diesel caps how is this possible? Even Boris Johnson's shenanigans hardly cause the £ to slip surely.

 

What apart from a global recession and Putin's insane murderous land-grab is going on? The rate was falling before Putin, fell with a thump after Carnage Carney the then Canadian Governor of the BoE repeatedly told everyone is was a sh*t currency - they should have locked him up as he jumped on the anti-Brexit bandwagon.

 

So in simple words - are we expecting further widening of the gap in the baht's favour?

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Posted

I would say the U.K. economy is on a downward slide and the uncertainty of how far it will go is causing further weakening of the £. They have been quoting a rising inflation rate for a while and The Bank of England ( not always famous for their accuracy I know) is quoting 10% before the end of the year, falling back to 2% in two years time.

News like this is enough to cause changes to foreign currency exchange rates.

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Posted
  On 5/11/2022 at 12:07 AM, cliveshep said:

Can someone explain why media outlets like Bangkok Post insist the baht is weakening when week on week it's exchange rate against the UK pound is going down.

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Weakening against the US$ .....

So in the past year 'they' allegedly used 16.5Billion dollars in foreign reserves to support the Thai Baht causing it to rise against the UKP. 

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Posted

Who knows. But one thing is sure nobody can predict where it is going, up or down, and there is nothing any foreigner remitting money to Thailand can do about it.

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Posted
  On 5/11/2022 at 12:15 AM, Andrew Dwyer said:

I would say the U.K. economy is on a downward slide and the uncertainty of how far it will go is causing further weakening of the £. They have been quoting a rising inflation rate for a while and The Bank of England ( not always famous for their accuracy I know) is quoting 10% before the end of the year, falling back to 2% in two years time.

News like this is enough to cause changes to foreign currency exchange rates.

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10% inflation!!!  Yikes that is bad news.  That is disastrous isn't it?

Posted

Yes baht is held up while US ‘prints’ trillions. The pound has just been garbage for years and the negative economic news over last few days has made things worse. 

Posted

Currency value is not directly related to economic performance of a country.  Also, a falling currency can, sometimes, help to drive an economy.

 

The UK is one of the few true democracies left in the world, which means a comparatively weak government that has to, (to some extent), look after it's people.  So lots of money is 'wasted' on social measures and high wages.  The UK is also impacted by popularist measures such as Brexit and support for Ukraine.  All these issues impact on the value of the currency.  

 

The Thai Government is not worried about being popular, increasingly has a 'slave' workforce indebted and subdued, is actively protecting the value of their own THB wealth even if this is not good for their own population, and is staying out of international conflicts, so the currency is stronger.

 

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Posted
  On 5/11/2022 at 12:15 AM, BritManToo said:

So in the past year 'they' allegedly used 16.5Billion dollars in foreign reserves to support the Thai Baht causing it to rise against the UKP. 

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How much left in the kitty until that's not possible ? Think that would help. Gonna be money wasted soon

Posted

• U.K. exports for 2020 was $741.01B, a 15.77% decline from 2019.

• U.K. exports for 2019 was $879.80B, a 0.33% decline from 2018.

• U.K. exports for 2018 was $882.69B, a 10.11% increase from 2017.

 

The brexit dividend.

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Posted

Inflation caused by money printing. The US, UK and EU have printed masses of money and thats causing inflation and a probable recession looming. 

 

The weird one is that the US market is so large that the fear of inflation/recession is causing a run TO the dollar away from stocks, futures, etc. A massive run at the moment, and thats causing the dollar to strengthen massively while markets crash. This is of course counter intuitive because inflation weakens the spending power of the dollar at home. 

 

The baht is actually weakening and has been for some time BUT I personally expect that to change rapidly once the US announces a peak is reached in inflation because the money will then run from the dollar to other holdings. Tonight is CPI day in the US, watch for big changes in the dollar depending if thats above or below 8.1%.

 

One could argue that baht currency movements are not as direct result of whatever Thailand does but what other currencies do.

 

 

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Posted

Simple ...£ down on the $ ..dawn on the bt.

£ - $1.32 ...46bt

£ - $1.24 - 42.5bt (now)

Bt tracks the dollar, for 1 reason I think, to reduce impact of high oil costs ..

 

Posted
  On 5/11/2022 at 12:07 AM, cliveshep said:

a year ago it touched 46 baht - £1, but now is continually slipping to 42,6 baht - £1 this morning.

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which was up from 38 a few years ago but down from 75 many many years ago...

 

So, you might take from that an image of a rollercoaster of which you have no control and can't get off... 

 

 

Posted
  On 5/11/2022 at 3:15 AM, userabcd said:

But the inflation is still there, still paying more for things.

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Exchange rate for Yanks, up 13+ % since biden took office (mid Feb 2021), + 5.9 % SS COLA, for a 19 % income edge against the inflation. ????  Better than going backward, with no rate change and no COLA.

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Posted
  On 5/11/2022 at 3:50 AM, KhunLA said:

Exchange rate for Yanks, up 13+ % since biden took office (mid Feb 2021), + 5.9 % SS COLA, for a 19 % income edge against the inflation. ????  Better than going backward, with no rate change and no COLA.

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Yes, the US looks after its citizens.

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Posted
  On 5/11/2022 at 3:30 AM, 1FinickyOne said:

which was up from 38 a few years ago but down from 75 many many years ago...

 

So, you might take from that an image of a rollercoaster of which you have no control and can't get off... 

 

 

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Rollercoaster

image.png.5c0bab30a13cdc4d992347baafbe6e0c.png

 

Posted
  On 5/11/2022 at 4:49 AM, BritManToo said:

I don't see why?

Looks to me like all the western countries are producing nothing.

Printing money, power distribution & economies failing and living on credit.

The Euro countries seem to be in the worst state of all, propping up the PIGS.

 

I'm just hoping to be dead before TSHTF and TEOTWAWKI happens.

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The article link is quite persuasive regarding the recent  history  of sterling and its decline. It is likely it will lose more value than the dollar so now is probably  a good time to buy dollars before the dollar  rises  further. If it or the Euro doesn't rise so what?  Currently  the users of BPS are not benefiting from the baht  decline switching  to other currencies might enable  them to do so

Posted
  On 5/11/2022 at 3:50 AM, KhunLA said:

Exchange rate for Yanks, up 13+ % since biden took office (mid Feb 2021), + 5.9 % SS COLA, for a 19 % income edge against the inflation. ????  Better than going backward, with no rate change and no COLA.

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a boon to my doggle... 

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Posted
  On 5/11/2022 at 12:45 AM, cdemundo said:

10% inflation!!!  Yikes that is bad news.  That is disastrous isn't it?

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That is close to what they are admitting to. I think it is closer to 20% in Europe and the US. Been back twice recently, and the price hikes are ridiculous. 

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Posted
  On 5/11/2022 at 6:39 AM, spidermike007 said:

That is close to what they are admitting to. I think it is closer to 20% in Europe and the US. Been back twice recently, and the price hikes are ridiculous. 

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Bars of chocolate are still 3 for a pound in the UK.

Here they're 27bht (70p) each and not as nice.

Posted
  On 5/12/2022 at 1:34 AM, BritManToo said:

Bars of chocolate are still 3 for a pound in the UK.

Here they're 27bht (70p) each and not as nice.

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Don't you just hate supermarkets like Tops when. they sell UK boxed stuff at say 300 baht and on the box in English it says 3 for a pound? I do, drives me nuts.

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