BritManToo Posted May 12, 2022 Share Posted May 12, 2022 (edited) 12 minutes ago, Whale said: 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. But even Snickers made in Thailand are 2x-3x the price of Snickers made in the UK. Why? Edited May 12, 2022 by BritManToo 1 Link to comment Share on other sites More sharing options...
StayinThailand2much Posted May 12, 2022 Share Posted May 12, 2022 (edited) On 5/11/2022 at 7:07 AM, cliveshep said: Can someone please explain the falling baht/sterling exchange rate in simple language? 1. The U.S. dollar is very strong at the moment due to run-away inflation in the U.S., and more hawkish expectations of rate hikes by the Fed. 2. The pound sterling is weak, not just because the dollar is strong, but also because of economical reasons, incl. the BoE rate decision. Edited May 12, 2022 by StayinThailand2much Link to comment Share on other sites More sharing options...
SymS Posted May 12, 2022 Share Posted May 12, 2022 The other day I just thought to myself, what do I use here that's coming from Europe? Most cars here are from Japan and China, electronics use chips from the US, China, South Korea with a lot of the manufacturing done in Taiwan as well. Most websites I used as hosted in US owned. Thailand is self-sufficient for foods, and I've not checked where energy resources like oil and gas are coming from, but certainly not from Europe. I came to the realization that if Europe was wiped out of the map, it would hurt as I'm a European myself, but my life here would probably not change one bit... A lot of the manufacturing is taking place in Asia, and they don't have unsustainable safety nets, so I'd expect that most Asian currencies will continue to go up overtime against the Euro, GBP, and even the USD, even though they have their own problems. The US is mismanaged too, but they have the resources in the ground, still have some industrial capacity, and they still rule the financial world. 1 Link to comment Share on other sites More sharing options...
Henryford Posted May 12, 2022 Share Posted May 12, 2022 (edited) Last week Andrew Bailey, Governor of the Bank of England gave a speech saying how terrible the UK economy was and a recession was certain over the next 2 years. Obviously the markets reacted by devaluing Sterling. Did he do it on purpose or is he just an imbecile? Edited May 12, 2022 by Henryford Link to comment Share on other sites More sharing options...
Doctor Tom Posted May 12, 2022 Share Posted May 12, 2022 4 minutes ago, Henryford said: Did he do it on purpose or is he just an imbecile? Both, just like the last Canadian guy. Link to comment Share on other sites More sharing options...
JayClay Posted May 12, 2022 Share Posted May 12, 2022 On 5/11/2022 at 7:07 AM, cliveshep said: Surely the GBP isn't weakening too? why is that such a difficult concept to believe?? 1 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted May 12, 2022 Share Posted May 12, 2022 On 5/11/2022 at 12:31 PM, userabcd said: 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. The TBL theory of exchange rates:- wherever I go it will get worse for me that it was before I arrived. I went to stay in Ireland when for probably the only time in history to that point in time the Punt was worth more than Sterling, which is what I had to exchange. I also changed most of my spare Sterling for Thai baht at the beginning of the drop late last century, but it had reached 99 baht to the Pound the next time I arrived, but without any Sterling to change. 1 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted May 12, 2022 Share Posted May 12, 2022 1 hour ago, BritManToo said: But even Snickers made in Thailand are 2x-3x the price of Snickers made in the UK. Why? Because they can? Do you not think that if they could sell Snickers for the same price in the UK they wouldn't? Link to comment Share on other sites More sharing options...
Kenny202 Posted May 12, 2022 Share Posted May 12, 2022 2 hours ago, BritManToo said: But even Snickers made in Thailand are 2x-3x the price of Snickers made in the UK. Why? Because there is a monopoly and because they can. I have to check myself all the time. 20 baht doesn't sound like much but it's nearly a dollar in my country (Aus). Same as 100 baht is $5. Its not pence or cents but sort of sounds like it 1 Link to comment Share on other sites More sharing options...
Chivas Posted May 12, 2022 Share Posted May 12, 2022 Simple answer Sterling/Dollar ratio on one side of the currency pairings. Further words superfluous Link to comment Share on other sites More sharing options...
Chivas Posted May 12, 2022 Share Posted May 12, 2022 On 5/11/2022 at 5:45 AM, The Hammer2021 said: The pound will probably decline further so it might be a good idea to buy Dollars and euro now to take advantage of a lower future baht. Dont give up the day job Hammer !! 1 Link to comment Share on other sites More sharing options...
The Hammer2021 Posted May 12, 2022 Share Posted May 12, 2022 22 minutes ago, Chivas said: Dont give up the day job Hammer !! Ha ha- I'm retired but if and it is if...BPS is going down what is wrong with the idea of buying dollars and euros now to buy baht in the future. I am more than happy to be educated in these matters Link to comment Share on other sites More sharing options...
Pmbkk Posted May 12, 2022 Share Posted May 12, 2022 Quite simple - there is a Muppet called Boris in charge ???? 1 Link to comment Share on other sites More sharing options...
Mac Mickmanus Posted May 12, 2022 Share Posted May 12, 2022 3 minutes ago, Pmbkk said: Quite simple - there is a Muppet called Boris in charge ???? It is a bit more complex than that , a weak Pound isn't necessarily bad for the U.K Link to comment Share on other sites More sharing options...
Sparktrader Posted May 12, 2022 Share Posted May 12, 2022 12 hours ago, BritManToo said: But even Snickers made in Thailand are 2x-3x the price of Snickers made in the UK. Why? Extra nuts Link to comment Share on other sites More sharing options...
Sparktrader Posted May 12, 2022 Share Posted May 12, 2022 12 hours ago, BritManToo said: But even Snickers made in Thailand are 2x-3x the price of Snickers made in the UK. Why? Move to UK? Link to comment Share on other sites More sharing options...
morrobay Posted May 12, 2022 Share Posted May 12, 2022 17 hours ago, Chivas said: Simple answer Sterling/Dollar ratio on one side of the currency pairings. Further words superfluous $1.22/Sterling x 34.73B/$=42.37B/S Link to comment Share on other sites More sharing options...
itsari Posted May 13, 2022 Share Posted May 13, 2022 The reason is simple . The US dollar has strengthened due to the increase in interest rates by the federal reserve . All major currencies are being weakened at the moment . Link to comment Share on other sites More sharing options...
itsari Posted May 13, 2022 Share Posted May 13, 2022 18 hours ago, Mac Mickmanus said: It is a bit more complex than that , a weak Pound isn't necessarily bad for the U.K More important that the UK keep the pound in line with the euro . 60 percent of UK exports are to the EU 1 Link to comment Share on other sites More sharing options...
theoldgit Posted May 13, 2022 Share Posted May 13, 2022 19 hours ago, Mac Mickmanus said: It is a bit more complex than that , a weak Pound isn't necessarily bad for the U.K Isn't much of their food imported, wouldn't that put the prices up? I accept that a weaker pound makes exports cheaper, but wouldn't that mean they got less less stable currencies in return? I have to admit I don't really understand the economics of all this. Link to comment Share on other sites More sharing options...
cliveshep Posted May 13, 2022 Author Share Posted May 13, 2022 23 hours ago, Henryford said: Last week Andrew Bailey, Governor of the Bank of England gave a speech saying how terrible the UK economy was and a recession was certain over the next 2 years. Obviously the markets reacted by devaluing Sterling. Did he do it on purpose or is he just an imbecile? Certainly he should be strangled to death for such anti-British statements clearly designed to destroy sterling's value. So should those who appointed him, presumably the same Putin lovers (what else could they possibly be?) who appointed that other Canadian moron before him, Carney who was equally damaging to sterling on at least 2 occasions. What is wrong with the Ministers in my country to allow such destructive people to mouth off completely unchecked, never mind employing them in the first place? Link to comment Share on other sites More sharing options...
Chivas Posted May 13, 2022 Share Posted May 13, 2022 4 hours ago, morrobay said: $1.22/Sterling x 34.73B/$=42.37B/S Indeed.....although you'd be startled how many times down the years I have patiently explained there is no "direct" exchange rate between Sterling/Baht and the bottom line is the actual number crunch of (Sterling/Dollar) x (Dollar/Baht) and that movement in either pairing effects the bottom line So many still cant grasp the concept that only the US Dollar has a direct exchange rate with every worldwide currency Link to comment Share on other sites More sharing options...
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