Today I met the first farang returning home because of exchange rate

[Gottfrid]

2 hours ago, marin said:

Almost double of before covid.

That´s just an unfathomable exaggeration.

[Liverpool Lou]

6 hours ago, Hummin said:

He is "under" 43 so still many good years to work legally disabled or not

Where was it reported that he is aged under 43?

[Liverpool Lou]

6 hours ago, Pouatchee said:

I don't think you would have many friends here if...

No one has any friends here!

[Pouatchee]

2 minutes ago, Liverpool Lou said:

No one has any friends here!

 

for once i agree with you, have yo mention, i guess, it was a euphemism.

[Liverpool Lou]

3 minutes ago, Pouatchee said:

7 minutes ago, Liverpool Lou said:

No one has any friends here!

 

for once i agree with you, have yo mention, i guess, it was a euphemism.

More likely a figure of speech.

[theblether]

1 hour ago, nauseus said:

 

The real "days" were late Jan / early Feb 1998, when the pound briefly went to 90 after the 1997 tom yam kung party.

 

In the early 80's, 35 was common and the pound briefly went to 28 during that period (1984).

 

So 43 is only a fair average over the last 10 years. People coming here should be prepared for less. 

 

All true. Gawd forbid you arrived in that golden period after the Tom Yam Kung crisis and thought that 90 baht was going to last forever. 

 

I have a recollection that the official exchange rate was fixed until the early 90's, although you could get a better street rate? 

 

I did see a street rate of around 37 in approx 2019, a fair few expats exited around them but also from memory that was at the height of the TM30 debacle. 

 

Thailand seems to present the expatriate community with a new crisis every couple of years. 

[ukrules]

On 9/16/2024 at 11:55 AM, ChaiyaTH said:

I don't get all this exchange rate talk, we are way higher than the previous low was and it still looks good on the long term too. 

At the moment....

[nauseus]

31 minutes ago, theblether said:

 

All true. Gawd forbid you arrived in that golden period after the Tom Yam Kung crisis and thought that 90 baht was going to last forever. 

 

I have a recollection that the official exchange rate was fixed until the early 90's, although you could get a better street rate? 

 

I did see a street rate of around 37 in approx 2019, a fair few expats exited around them but also from memory that was at the height of the TM30 debacle. 

 

Thailand seems to present the expatriate community with a new crisis every couple of years. 

 

I also experienced the 28 baht in 1984. But 1998 was good for me, even for those few days.

 

The peg to the USD was quite tight for a long time - not so for the pound as far as I remember.

 

 The fluctuations are not all Thailand's doing but 1997 was an exception.

[Pouatchee]

58 minutes ago, Liverpool Lou said:

More likely a figure of speech.

 

nah. right choice of words.

i didnt want to br harsh and hurt his feelings

 

 

noun

 

1. a mild or indirect word or expression substituted for one considered to be too harsh or blunt when referring to something unpleasant or embarrassing.

[theblether]

1 hour ago, nauseus said:

 

I also experienced the 28 baht in 1984. But 1998 was good for me, even for those few days.

 

The peg to the USD was quite tight for a long time - not so for the pound as far as I remember.

 

 The fluctuations are not all Thailand's doing but 1997 was an exception.

 

I'm pretty sure it was pegged at 25 to the $ through the Eighties. It was a big step to release the peg and without getting out of my comfort zone ( I'm not an economist ) the release and flow of money supply contributed to the Tom Yam Kung crisis. 

 

The enduring result of that crisis has been an enduring worry about the public debt ratio. Thailand's is unusually low, which stifles investment in public services, but still more than double what it was before the crisis. 

[still kicking]

On 9/16/2024 at 12:52 PM, Pouatchee said:

 

i am sure @BuddyPish will have a good laugh when he sees this. ..

 

i feel for this guy. i feel the pinch too but it was worse 3 years ago... i would get 29.13 bht to the dollar

Try 22,3 for the AUD

[david555]

3 hours ago, Liverpool Lou said:

Where was it reported that he is aged under 43?

"At present under 43 "

Edited September 17 by david555

[it is what it is]

On 9/16/2024 at 5:55 AM, ChaiyaTH said:

I don't get all this exchange rate talk, we are way higher than the previous low was and it still looks good on the long term too. 

 

depends on your perspective, i remember when it was over 70 baht to the GBP

[CallumWK]

16 minutes ago, it is what it is said:

On 9/16/2024 at 11:55 AM, ChaiyaTH said:

I don't get all this exchange rate talk, we are way higher than the previous low was and it still looks good on the long term too. 

 

depends on your perspective, i remember when it was over 70 baht to the GBP

 

Exactly, those that arrived 20 years ago  enjoyed a 70bht/GBP rate, and measured their savings on that exchange rate.

If they did everything legal (I don't mention those on the forum that think they can beat the system forever), they won't have had an index increase on their pensions, though the exchange rate has declined.

 

 

Edited September 17 by CallumWK

[CallumWK]

1 hour ago, theblether said:

I'm pretty sure it was pegged at 25 to the $ through the Eighties.

 

It was pegged at 25 to the usd from 1984 till 1997

[freedomnow]

On 9/16/2024 at 5:37 AM, NanLaew said:

Under 43?

 

Maybe he fell in love with Thailand in the last eight years or so after being the semi-annual two-week millionaire, but mistakenly decided to retire early?

 

Meanwhile, many pensioners with a bit more foresight who have embraced the importance of having a budget are coping well.

probably because they maintain a UK address on the fly or some such hack.

[rattlesnake]

On 9/16/2024 at 7:39 AM, Kinnock said:

I think the new tax laws may force more people to return home than exchange rate fluctuations.

Yeah, lots of people overreacting. I will worry about it when I am shown an official bill with my name on it.

[Henryford]

18 hours ago, BuddyPish said:

 

The whole world is diversifying away from the USD. 
It's a peso-in-waiting - 35 trillion dollars of debt can never be repaid, only inflated away and that means a rout in the USD.


 

 

People say that but what other currency is in any better state? The Yuan, the Rouble, the Euro, the Yen ha ha. They are all mickey mouse now. No country will ever pay off their National Debt.

[mdr224]

15 hours ago, John Drake said:

 

Why not? I've been hearing about doom for the dollar since 1971. And it's always the cranks and the kooks who are leading the parade. People like Peter Schiff have been predicting an eminent dollar collapse for 20 years. The only thing that collapsed, however, was his bank in Puerto Rico. They're out there today stronger than ever, doomsday preppers thinking that a dollar collapse is right around the country. They'll spend their lives and go to their graves thinking they were right, while the world marches onwards. With the dollar as the reserve currency.

Dollar might or might not collapse, but bitcoin is trending towards becoming the worlds reserve currency. Probably in your lifetime

[NanLaew]

10 hours ago, freedomnow said:

On 9/16/2024 at 11:37 AM, NanLaew said:

Under 43?

 

Maybe he fell in love with Thailand in the last eight years or so after being the semi-annual two-week millionaire, but mistakenly decided to retire early?

 

Meanwhile, many pensioners with a bit more foresight who have embraced the importance of having a budget are coping well.

probably because they maintain a UK address on the fly or some such hack.

 

You mean possibly? I know of three that have totally burned their bridges, but are not in dire straits due to the 'rules' changing back home.

 

If people, like the OP's mate, did a bit more due-diligence on their overseas retirement plans, they would probably save themselves a lot of drama. For example, a guy I worked with discovered Pattaya around the same time I did, both in our late 20's. He partied like anyone else but at the same time, he bought himself a condo on Jomtien. Now he's on a Retirement Extension and doesn't have to worry about rent, proof of address, 800 k baht in the bank, etc.. Another guy I worked with around the same time invested in shophouses first and then, over the years, built and flipped six homes. He's in his mid 70's now and is up in Chiang Rai with his wife, volunteering on the flood relief effort. He probably gave me the best advice when he advised me never to retire too early, as there are too many things that can arise in the future that you have no control over. He's still doing 2 or 3 consulting jobs each year, same as me, just keeping the accounts topped up.

Edited September 18 by NanLaew

[NanLaew]

14 hours ago, Liverpool Lou said:

Where was it reported that he is aged under 43?

 

In the OP.

 

On 9/16/2024 at 11:12 AM, nofarang said:

He said, he loves it here but cannot afford it anymore. As the pound constantly on its way down life for him becomes unbearable expensive. At present under 43 and with the bleak prospective of sliding further he is forced to pull the brake. He was on his way back home. I wonder how many more have given up....

[chiang mai]

7 minutes ago, NanLaew said:

 

In the OP.

 

I think 43 is the exchange rate, not his age.

[NanLaew]

4 minutes ago, chiang mai said:

12 minutes ago, NanLaew said:

 

In the OP.

 

I think 43 is the exchange rate, not his age.

 

Ah yes... correct.

 

More coffee (less speed-reading)!

 

Apart from that, my sage advice still stands.

Edited September 18 by NanLaew

[baansgr]

20 hours ago, Gottfrid said:

Or, unless he go back and work again. You didn´t think about that possibility, right?

How about the noggies, they've lost almost 50%

[patman30]

did i miss something?

exchange rate has been in the mid 40s for many years now

yes i did miss something
this is another dumb engagement post
another one on the ignore list

Edited September 18 by patman30

[chiang mai]

5 minutes ago, patman30 said:

did i miss something?

exchange rate has been in the mid 40s for many years now

yes i did miss something
this is another dumb engagement post
another one on the ignore list

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=5Y

[patman30]

6 minutes ago, chiang mai said:

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=5Y

that graph shows the rate getting better overall.....
you can tell because where it ends up is higher than where it started
*just in case you need help to understand the graph🙃

[patman30]

The 40s......

[chiang mai]

7 minutes ago, patman30 said:

that graph shows the rate getting better overall.....
you can tell because where it ends up is higher than where it started
*just in case you need help to understand the graph🙃

Oh, OK then! It's just that you said the rate has been in the mid 40's for years, which it hasn't. In case you need help, mid stands for middle! Pre-covid, GBP/THB was trending stronger into the high 30's. The trend very clearly was for a stronger THB and that's where it is headed once again, that's the fear and the risk.

 

 

 

Edited September 18 by chiang mai

[chiang mai]

A better view against GBP, over a longer time frame, to observe trend

 

https://tradingeconomics.com/gbpthb:cur

 

Edited September 18 by chiang mai