When sterling exchange rate fell to 35?

[nausea]

Does anyone remember when the Sterling/Baht exchange rate briefly fell to c.35; I'm trying to pin down a certain date, and I remember this happened at the same time. Thanks.

[doctormann]

According to XE.com the low point was on October 12 2019 when the mid-market rate between GBP and THB was 37.05.  The rate that you would have got buying THB would likely have been a bit lower, as is always the case, so 35 is quite likely.  The chart that I have only goes back to 2013 so it is entirely possible that the rate was lower at some time before that.  Apparently, the rate was around 25, sometime in the distant past.

 

[JayClay]

Wasn't it the Thailand financial crash in the 90s when the sterling went that low?

 

It was certainly before my time.

[Mike Lister]

8 minutes ago, doctormann said:

According to XE.com the low point was on October 12 2019 when the mid-market rate between GBP and THB was 37.05.  The rate that you would have got buying THB would likely have been a bit lower, as is always the case, so 35 is quite likely.  The chart that I have only goes back to 2013 so it is entirely possible that the rate was lower at some time before that.  Apparently, the rate was around 25, sometime in the distant past.

 

That's right, there was nothing that low before that, unless you go back to the crash of 1997 when the Baht was pegged to USD at 25 and GBP/THB was 35 for a long time.

Edited November 11, 2023 by Mike Lister

[doctormann]

8 minutes ago, Mike Lister said:

That's right, there was nothing that low before that, unless you go back to the crash of 1997 when it was around that level.

Wrong way round.  GBP - THB was around 90 for a short while at the start of 1998.

[Mike Lister]

2 minutes ago, doctormann said:

Wrong way round.  GBP - THB was around 90 for a short while at the start of 1998.

Prior to 1997. The Thai Baht was hard pegged to USD at 25 baht per USD, at the time, the Pound fetched 35 baht. After the peg was removed, THB fell to over 45 and as you say, Sterling fetched 90, albeit very briefly. The op asks if "anyone remember when the Sterling/Baht exchange rate briefly fell to c.35"....my answer stands.

[nausea]

Thanks for all the replies. This relates to something relatively recent; within, say, the last 5/6 years. I think "doctormann" above has solved my problem.

[nausea]

1 hour ago, doctormann said:

According to XE.com the low point was on October 12 2019

Yeah, that sounds about right; thanks for your help.

[nausea]

2 hours ago, doctormann said:

According to XE.com the low point was on October 12 2019

Thanks for pointing me in the right direction, with a bit of research I was able to narrow it down to a precise date in September 2019; thanks again for your help.

[Mark1066]

On 11/11/2023 at 7:34 AM, Mike Lister said:

Prior to 1997. The Thai Baht was hard pegged to USD at 25 baht per USD, at the time, the Pound fetched 35 baht. After the peg was removed, THB fell to over 45 and as you say, Sterling fetched 90, albeit very briefly. The op asks if "anyone remember when the Sterling/Baht exchange rate briefly fell to c.35"....my answer stands.

How does your answer stand? You said there was nothing that low "unless you go back to the crash of 1997" but it was before the crash so your answer made no sense at all.

[Mike Lister]

2 minutes ago, Mark1066 said:

How does your answer stand? You said there was nothing that low "unless you go back to the crash of 1997" but it was before the crash so your answer made no sense at all.

I can explain it for you but I can't understand it for you.