Baht Bombing!

[sambum]

Can someone please have a word with the new British Labour Government to do something about the number of Thai Baht I get for my British Pound which seems to have gone into freefall since they got in? 😀

[chiang mai]

The problem is the value of USD and GBP are both falling, following expected rate cut news.

[sambum]

14 minutes ago, sambum said:

Can someone please have a word with the new British Labour Government to do something about the number of Thai Baht I get for my British Pound which seems to have gone into freefall since they got in? 😀

I presume that "Confused" doesn't do humour or sarcasm?

[ozz1]

Australian dollars falling as well just have to wait till all the stimulus money is given out and the baht should fall we'll see hang tight

[scubascuba3]

16 minutes ago, chiang mai said:

The problem is the value of USD and GBP are both falling, following expected rate cut news.

many are falling, probably good Thai figures. I got 47 two weeks ago now 45

[NowNow]

2 minutes ago, sambum said:

I presume that "Confused" doesn't do humour or sarcasm?

 

Do you?

[chiang mai]

Just now, scubascuba3 said:

many are falling, probably good Thai figures. I got 47 two weeks ago now 45

Historically, fair value against USD is around 32/33, which implies around 42 against the Pound, unless one side weakens or strengthens.  

[sambum]

1 minute ago, NowNow said:

 

Do you?

 

Very droll! "Rhetorical affirmation" (OK - I had to Google it too!)

[scubascuba3]

10 minutes ago, chiang mai said:

Historically, fair value against USD is around 32/33, which implies around 42 against the Pound, unless one side weakens or strengthens.  

So garbage then

[Pouatchee]

37 minutes ago, sambum said:

Can someone please have a word with the new British Labour Government to do something about the number of Thai Baht I get for my British Pound which seems to have gone into freefall since they got in? 😀

 

careful.. @BuddyPish is going to come on here and tell you that you shouldnt be here if the poor exchange rate hurts you. i guess he is made of teflon and a bad exchange rate doesnt affect him. funny... coming from someone who says he earns a living speculating fx🤣

 

Quote

Australian dollars falling as well just have to wait till all the stimulus money is given out and the baht should fall we'll see hang tight

 

some like buddypish laugh at us for saying things like that... @ozz1 i totally agree with you

 

[mfd101]

22 minutes ago, ozz1 said:

Australian dollars falling as well just have to wait till all the stimulus money is given out and the baht should fall we'll see hang tight

Fingers crossed.

[2baht]

42 minutes ago, sambum said:

Can someone please have a word with the new British Labour Government

Do you have any idea just how long it takes to call the BLG from a phone booth in Thailand??? After a few hours and countless coins, the message from the British Labour Government, for all accounts on a dodgy line, I think they said to get lost!

[chiang mai]

4 minutes ago, 2baht said:

Do you have any idea just how long it takes to call the BLG from a phone booth in Thailand??? After a few hours and countless coins, the message from the British Labour Government, for all accounts on a dodgy line, I think they said to get lost!

Quite right too because it's nothing to do with them, it's all down to the MPC at the Bank of England to decide rates. The BOE contact details are below, in case you have spare time on your hands. 🙂

 

https://www.bankofengland.co.uk/contact

[KhunLA]

Keep printing money and assuming debt and your money value goes down.  Don't know about bombing.  

 

For USD, that would be <฿30 / $1, last seen Jan 2021

For GBP, maybe around the ฿38, last seen Jan 2020, or ฿39, just back at Jan 2023.  Bit of a roller coaster.

 

GBP been pretty comfy ฿40-45 the past 4 ish years.  Wouldn't expect it to go lower or higher.  Anything higher, simply enjoy while it last.

 

Same with USD, seems happy ฿30-35.  Higher is always nice, but usually doesn't last long.

[sometimewoodworker]

4 hours ago, sambum said:

Can someone please have a word with the new British Labour Government to do something about the number of Thai Baht I get for my British Pound which seems to have gone into freefall since they got in? 😀

You haven’t noticed that until the few days that the pound was at almost 47 and that was the highest point it reached for the last 5 years. So unless you term the stratospheric rise free fall you don’t  know what rubbish you are spouting.

 

if you actually pay any attention to currencies you will see that it is the Baht that is jumping against all other countries 

[HauptmannUK]

Things could get a bit hairy over the rest of the year. Lots of stock markets having a wobble (Japan down 6% over last couple days). US Fed and BoE likely to trim interest rates further.  Wife and I sent large sums of GBP to THB couple of weeks back at 46.6

[Bday Prang]

3 hours ago, 2baht said:

Do you have any idea just how long it takes to call the BLG from a phone booth in Thailand??? After a few hours and countless coins, the message from the British Labour Government, for all accounts on a dodgy line, I think they said to get lost!

When I called them they blamed Tommy Robinson and right wing extremists  for it.   They said the same when i asked about the weather, in fact they accused me of being right wing just for asking

[chiang mai]

6 minutes ago, sometimewoodworker said:

You haven’t noticed that until the few days that the pound was at almost 47 and that was the highest point it reached for the last 5 years. So unless you term the stratospheric rise free fall you don’t  know what rubbish you are spouting.

 

if you actually pay any attention to currencies you will see that it is the Baht that is jumping against all other countries 

It is not that THB is increasing in value, it isn't, USD is losing value. Any currency that is valued against USD, appears to be strengthening as a result:

 

 

https://www.marketwatch.com/investing/index/dxy

[jas007]

Somewhere I read that the Fed or the U.S. treasury seems to think the US dollar should be about 34 baht.  So, the recent price doesn’t seem too far off. Anyway, it’s all relative.  Given the demand for dollars around the world, the dollar price is supposed to be fairly stable for the next four or five years. I hope that’s accurate. 
 

 

[Pouatchee]

21 minutes ago, chiang mai said:

It is not that THB is increasing in value, it isn't, USD is losing value. Any currency that is valued against USD, appears to be strengthening as a result:

 

i tend not to agree. the canadian loonie has been in freefall the last few day and it is valued against the usd.

[chiang mai]

2 hours ago, Pouatchee said:

 

i tend not to agree. the canadian loonie has been in freefall the last few day and it is valued against the usd.

I didn't write that very well! Every currency is valued against USD, directly or indirectly because USD is at the top of the forex tree. I don't know all the dynamics that drive CAD value but the price of oil is one major factor and the oil price has been falling in recent days.,,,Canada imports over 70% of its crude from the US plus the US is by far Canada's main import/export trading partner.

 

Oil and exports are paid for in USD, this means that as the value of USD falls, other currencies such as THB can buy USD more cheaply. This means their cost of imported oil is cheaper and their exports earn more. Those currencies appear stronger because they have an economic advantage compared to when USD was very strong.

[chiang mai]

3 hours ago, chiang mai said:

I didn't write that very well! Every currency is valued against USD, directly or indirectly because USD is at the top of the forex tree. I don't know all the dynamics that drive CAD value but the price of oil is one major factor and the oil price has been falling in recent days.,,,Canada imports over 70% of its crude from the US plus the US is by far Canada's main import/export trading partner.

 

Oil and exports are paid for in USD, this means that as the value of USD falls, other currencies such as THB can buy USD more cheaply. This means their cost of imported oil is cheaper and their exports earn more. Those currencies appear stronger because they have an economic advantage compared to when USD was very strong.

The other point I forgot to add is that Canada started to reduce its interest rates long before the US with two cuts already under its belt, one in June and one in July.

[2baht]

9 hours ago, Bday Prang said:

When I called them they blamed Tommy Robinson and right wing extremists  for it.   They said the same when i asked about the weather, in fact they accused me of being right wing just for asking

Thankfully, I don't have wings!

[sambum]

19 hours ago, KhunLA said:

Keep printing money and assuming debt and your money value goes down.  Don't know about bombing.  

 

For USD, that would be <฿30 / $1, last seen Jan 2021

For GBP, maybe around the ฿38, last seen Jan 2020, or ฿39, just back at Jan 2023.  Bit of a roller coaster.

 

GBP been pretty comfy ฿40-45 the past 4 ish years.  Wouldn't expect it to go lower or higher.  Anything higher, simply enjoy while it last.

 

Same with USD, seems happy ฿30-35.  Higher is always nice, but usually doesn't last long.

 

"Comfy" is what the exchange rate was when I first came here about 20 years ago  - 73 baht to the British Pound. Don't think we'll see that again but 50 would be nice ! 🙂 And stupid me for telling the Brit Gov that I lived here - now my pension is frozen at 2015 rate 😞 Double whammy!

[sambum]

17 hours ago, sometimewoodworker said:

You haven’t noticed that until the few days that the pound was at almost 47 and that was the highest point it reached for the last 5 years. So unless you term the stratospheric rise free fall you don’t  know what rubbish you are spouting.

 

if you actually pay any attention to currencies you will see that it is the Baht that is jumping against all other countries 

 

If you actually read my post in the way that it was intended, you wouldn't be up on your high horse spouting statistics - get a life!

[KhunLA]

10 minutes ago, sambum said:

 

"Comfy" is what the exchange rate was when I first came here about 20 years ago  - 73 baht to the British Pound. Don't think we'll see that again but 50 would be nice ! 🙂 And stupid me for telling the Brit Gov that I lived here - now my pension is frozen at 2015 rate 😞 Double whammy!

Yea, I was liking 40 when I got here in 2000, even knocked on 46 for a short while.  As low as 28 also, so 30 to 35 will have to do.

 

Arriving just after their crash, so it, the THB could only get stronger.  So anything above 35 for the USD is quite nice.

 

The spanking from the EU for Brexit screwed y'all royally.

 

Brexit ...

 

[sometimewoodworker]

2 hours ago, sambum said:

 

If you actually read my post in the way that it was intended, you wouldn't be up on your high horse spouting statistics - get a life!

If you actually worded you post in the way you intended it to be read you wouldn’t be creating confusion, but I have sympathy on your inability to understand long term and short term numbers.

[norbra]

On 8/2/2024 at 5:08 PM, ozz1 said:

Australian dollars falling as well just have to wait till all the stimulus money is given out and the baht should fall we'll see hang tight

Thai stimulus ain't going to help.

Problem for AUD is ailing Chinese economy and reduction of iron ore imports consequently price has dropped by around $60 per ton ,similar with coking coal for steel production.

You may have read about Thai steel makers complaining about very cheap Chinese steel being dumped here affecting their bottom line.

[sambum]

27 minutes ago, sometimewoodworker said:

If you actually worded you post in the way you intended it to be read you wouldn’t be creating confusion, but I have sympathy on your inability to understand long term and short term numbers.

 

And I sympathise with people who do not recognise light heartedness when they see it - even when you put a smiling emoji at the end of the post!