Future GBP to THB looks promising

[nomad2019]

See today GBP has risen... Noone has a crystal ball but im not in the know as much as most you in the financial business.... I need send money around 15k uk.   Should i wait or buy now... Im inclined to wait given the BRICS against the US DOLLAR / GBP / EU

What are your thoughts. 

Thankyou ????

[ChaiyaTH]

Not much reason to wait, there are multiple factors of which the political scene now boosts it to be even better too. I expect it likely to keep getting a good rate, not sure how much further on short term it could go. 

 

You can wait to see if it goes up another 0.5 baht but could go down 1.0 baht in between again too, would be happy to exchange now.

[morrobay]

And if the Bank of Thailand was not spending foreign currency reserves defending the baht the exchange rate would be about 58baht/pound.  According to Chartchai Parasuk,a noted Thai economist: The BOT has already spent $37 billion defending the baht over the past two and a half years. If not the baht would be 45/$

[Sigmund]

Better to have one today...then to lose many tomorrow....

 

As rightfully suggested above by others, governance could continue to maintain the manipulation of the THB on the low, should the powerful need to transfer out more of their billions at the lowest cost possible...

 

But a tsunami could occur considering the rumours of possible losses in China's largest domestic asset wealth management firm...not sure though who it will benefit; the western currencies or the asian currencies ?

 

For sure the Swiss Franc will surge as it is usually the standard solid refuge currency in times of doubt. But then, I am no specialist and definately do not have the balls to gamble my savings.

Edited August 14, 2023 by Sigmund