Thai Baht Against The Gbp

[marshbags]

as the pound to thai baht is now between 58 and 60 is it worth buying u.s. dollars at about 1.95 and then buying baht at 31-32

also does anyone have any views on the possibility of a baht devaluation

On my bank is between 62-63 and not 58, don't know where you get you exchange....

Maybe it,s a U.K.based exchange rate quote.

I was quoted 57 yesterday when i did a comparison to the exchange rate there and what i got for a Pounds Sterling transfer ( 63. 0015 ) T.T of course and not taking the usual minimal bank charge into account

marshbags

Don,t know about devaluation but.....................................................

Unpredictability, political mismanagement ect. ect. equals chaos, this is already starting and will continue to gather pace.

Just curious to know why you would TT baht at 57 when you can TT Sterling and get 63?

Sorry if it is misleading you, the " i got " is meant to indicate that i did , as i always do, transfer my money from the U.K. in Pounds Sterling

I learnt some years ago that it was always favourable to do this and also to buy my travellers cheques in Sterling that i use for emergencies, as against U.S. dollars.

Never regretted doing this, by the way either.

Another thing i took into account many years ago were the losses incurred first buying, then selling surplus foreign currencies back to the suppliers, via commission fees.

e.g. Vacations ect. were you only need the currency for the limited period.

Of course now we are blessed with internet banking, swift ect. ect. and it really is a different world we now live in thanks to IT.

marshbags

Edited February 27, 2008 by marshbags

[chiang mai]

as the pound to thai baht is now between 58 and 60 is it worth buying u.s. dollars at about 1.95 and then buying baht at 31-32

also does anyone have any views on the possibility of a baht devaluation

On my bank is between 62-63 and not 58, don't know where you get you exchange....

Maybe it,s a U.K.based exchange rate quote.

I was quoted 57 yesterday when i did a comparison to the exchange rate there and what i got for a Pounds Sterling transfer ( 63. 0015 ) T.T of course and not taking the usual minimal bank charge into account

marshbags

Don,t know about devaluation but.....................................................

Unpredictability, political mismanagement ect. ect. equals chaos, this is already starting and will continue to gather pace.

Just curious to know why you would TT baht at 57 when you can TT Sterling and get 63?

Sorry if it is misleading you, the " i got " is meant to indicate that i did , as i always do, transfer my money from the U.K. in Pounds Sterling

I learnt some years ago that it was always favourable to do this and also to buy my travellers cheques in Sterling that i use for emergencies, as against U.S. dollars.

Never regretted doing this, by the way either.

Another thing i took into account many years ago were the losses incurred first buying, then selling surplus foreign currencies back to the suppliers, via commission fees.

e.g. Vacations ect. were you only need the currency for the limited period.

Of course now we are blessed with internet banking, swift ect. ect. and it really is a different world we now live in thanks to IT.

marshbags

That makes better sense to me, thanks.

[ChiangMaiFun]

as the pound to thai baht is now between 58 and 60 is it worth buying u.s. dollars at about 1.95 and then buying baht at 31-32

also does anyone have any views on the possibility of a baht devaluation

On my bank is between 62-63 and not 58, don't know where you get you exchange....

Maybe it,s a U.K.based exchange rate quote.

I was quoted 57 yesterday when i did a comparison to the exchange rate there and what i got for a Pounds Sterling transfer ( 63. 0015 ) T.T of course and not taking the usual minimal bank charge into account

marshbags

Don,t know about devaluation but.....................................................

Unpredictability, political mismanagement ect. ect. equals chaos, this is already starting and will continue to gather pace.

Ah - the days when folk were bemoaning 63 to the baht any ideas fof this year? 51 today

[syd barrett]

55 by June 1st 2009

[LennyW]

Ironic isint it?? the Baht is weakining slightly, but the fkn Pound is weakening even more, hardly surprising with the banking news coming out of the UK in the past few days!! , i will stick my neck out though and say 55 + within the next 2 months, however i feel this will be because of the Baht weakening further and not the Pound gaining any significant strength.

[mommysboy]

Ironic isint it?? the Baht is weakining slightly, but the fkn Pound is weakening even more, hardly surprising with the banking news coming out of the UK in the past few days!! , i will stick my neck out though and say 55 + within the next 2 months, however i feel this will be because of the Baht weakening further and not the Pound gaining any significant strength.

it's a peculiar situation. The US economy contracts, the world and his uncle sell up investments which more often than not are converted to US dollars, hence the dollar's strength, and the Thai bt also.

A prediction! 50 bt for the forsee-able, with a chance of a drop to 45 for a short while.

But a gradual move to 55 within a year.

Then who knows but any move is likely to be upwards.

Yes I could see 70 bt one day, I don't know when.

[kjhbigv]

Ironic isint it?? the Baht is weakining slightly, but the fkn Pound is weakening even more, hardly surprising with the banking news coming out of the UK in the past few days!! , i will stick my neck out though and say 55 + within the next 2 months, however i feel this will be because of the Baht weakening further and not the Pound gaining any significant strength.

it's a peculiar situation. The US economy contracts, the world and his uncle sell up investments which more often than not are converted to US dollars, hence the dollar's strength, and the Thai bt also.

A prediction! 50 bt for the forsee-able, with a chance of a drop to 45 for a short while.

But a gradual move to 55 within a year.

Then who knows but any move is likely to be upwards.

Yes I could see 70 bt one day, I don't know when.

Very good so far....just waiting for the encore!!

[mommysboy]

45bht would be a good guess.

would it? care to elaborate!

[mommysboy]

Ironic isint it?? the Baht is weakining slightly, but the fkn Pound is weakening even more, hardly surprising with the banking news coming out of the UK in the past few days!! , i will stick my neck out though and say 55 + within the next 2 months, however i feel this will be because of the Baht weakening further and not the Pound gaining any significant strength.

it's a peculiar situation. The US economy contracts, the world and his uncle sell up investments which more often than not are converted to US dollars, hence the dollar's strength, and the Thai bt also.

A prediction! 50 bt for the forsee-able, with a chance of a drop to 45 for a short while.

But a gradual move to 55 within a year.

Then who knows but any move is likely to be upwards.

Yes I could see 70 bt one day, I don't know when.

Very good so far....just waiting for the encore!!

Come on then brains!! lay it on us: what's your cast iron prediction ?

[churchill]

UK to start quantitative easing this week - Must weaken sterling in the medium term , however the Thai baht is also weakening , So which will weaken fastest ? My guess around 50 now edging towards 55 later in the year ,

http://www.iii.co.uk/news/?type=reutersnew...cleid=N02409990

[Naam]

my guess THB/GBP would be precise but for an accurate forecast i'd need the temperature in ºC prevailing on 17th june 2010 at 14.45 hrs. in one of the northern suburbs of Nakhon Nowhere.

[wileycoyote]

I think is Churchill had made a good guess-estimate .

I agree to thise figures,gone are the halcyon days on 60+

[thaihome]

Unfortunately......the pound is going to get buried by the baht.....Thailand has a large current account surplus wich is one reason for the baht appreciation while pound and dollar have significant deficits....

The real thing though as that is already in the price (rate) is that UK and Euro interest Rates are going down to stave off recession...while IMHO there is going to be an inflation problem exploding in Thailand. When that happens the BoT will hike rates and and with that you will get hot money.......ie speculators looking for higher comparative interest. As this can be predicited now thats why they want to get into the baht while rates as good as possible. Rather screws my property plans though

Actually Thailand ran a trade deficit in 2008, causing a negative current account balance of about 13 billion baht (through Nov). This was mainly caused by the steep rise in oil prices in the first 3 quarters of the year.

It does have significant currency reserves, about USD 106 billion, but that is something different.

But you knew all this didn't you, which is why you choose to post.

TH

[flying]

what's your cast iron prediction ?

Oxymoron?

[Enjibenji]

did i just see a prediction of 45 baht/gbp in the future? laughable.

i'll say 55-56 by may, 59-60 by the end of the year.

Edited March 3, 2009 by Enjibenji

[mommysboy]

what's your cast iron prediction ?

Oxymoron?

I don't know about the oxy , I'd say 'turn of phrase'.

[mommysboy]

Unfortunately......the pound is going to get buried by the baht.....Thailand has a large current account surplus wich is one reason for the baht appreciation while pound and dollar have significant deficits....

The real thing though as that is already in the price (rate) is that UK and Euro interest Rates are going down to stave off recession...while IMHO there is going to be an inflation problem exploding in Thailand. When that happens the BoT will hike rates and and with that you will get hot money.......ie speculators looking for higher comparative interest. As this can be predicited now thats why they want to get into the baht while rates as good as possible. Rather screws my property plans though

Nearly all of this is partly or wholly incorrect.

The pound has already been buried by the bt and is possibly at or near its low.

Uk interest rates really don't have much further to fall unless there is such a thing as a negative rate .

Why would there be an inflation problem exploding in Thailand ?

Now if you'd have mentioned the dangers of quantitive easing that might be a different matter, so it is possible that we may see even 45bt for a short while.

[mommysboy]

did i just see a prediction of 45 baht/gbp in the future? laughable.

i'll say 55-56 by may, 59-60 by the end of the year.

Why is it laughable?

I muted it as a possibility and a support level. It's possible because it's only 10% off where it stands now, and UK is about to start printing extra money. This will likely devalue the currency still further. Hopefully though this has already been built in to the price.

[colibra]

What is that strange sound.

Oh thats the toilet flushing, taking the pound with it.

Talk about rose colored glasses or wishful thinking. We'll be lucky if there is a pound this time next year. I would say dropping to 40 would be a reprieve.

Why, eastern Europes banking problems with take down the UK also. swish-good bye cruel world.

[mommysboy]

What is that strange sound.

Oh thats the toilet flushing, taking the pound with it.

Talk about rose colored glasses or wishful thinking. We'll be lucky if there is a pound this time next year. I would say dropping to 40 would be a reprieve.

Why, eastern Europes banking problems with take down the UK also. swish-good bye cruel world.

That strange smell? Could be something else!

BS

[chiang mai]

45 Baht per Pound as a short/medium term proposition seems quite likely to me.

[colibra]

mommysbog

What that eastern Europe has serious financial problems, that many have rose colored glasses, or the pound will be at 40 to the baht.

Could you be more specific. I gave my reason but I didn't see you posting any reasons for simply calling bullshit. Another well thought out educated post.

[yabaaaa]

45 Baht per Pound as a short/medium term proposition seems quite likely to me.

Short term 2 baht per £ long term 99 baht per £

I could be wrong??

[mommysboy]

mommysbog

What that eastern Europe has serious financial problems, that many have rose colored glasses, or the pound will be at 40 to the baht.

Could you be more specific. I gave my reason but I didn't see you posting any reasons for simply calling bullshit. Another well thought out educated post.

I gave quite a few reasons over a number of postings, and also posted that 45 is possible but not likely IMHO.

The tribulations in Eastern Europe should not effect the pound, as Uk is not heavily exposed to debt from these areas.

Quantitive easing remains the only reason why the pound shoould fall anymore than it has done already.

[12DrinkMore]

Quantitive easing remains the only reason why the pound shoould fall anymore than it has done already.

And here you go, just on queue...

http://www.independent.co.uk/news/business...05-1637909.html

Official borrowing costs have fallen for the sixth month in a row, but the Bank will now tackle recession with so-called quantitative easing (QE) - effectively printing money - to ease credit conditions.

The Bank will create £75 billion to pump into the economy over the next three months.

35 Baht/GBP?

[tw25rw]

Official interest rate is now .5% which will push the £ down even more. There's no sign that the UK is improving as a place to invest so I think 55-60 is wishful thinking.

[mommysboy]

45 Baht per Pound as a short/medium term proposition seems quite likely to me.

Short term 2 baht per £ long term 99 baht per £

I could be wrong??

The problem with this is you haven't built in any margin for error!

[teletiger]

Will there be a pound next year? One suggestion, mooted in more than 1 rag, is for the UK to join the Euro.

Doesn't meet the criteria? They've been known to change.

Regards.

[The Philosopher]

What is that strange sound.

Oh thats the toilet flushing, taking the pound with it.

Talk about rose colored glasses or wishful thinking. We'll be lucky if there is a pound this time next year. I would say dropping to 40 would be a reprieve.

Why, eastern Europes banking problems with take down the UK also. swish-good bye cruel world.

That strange smell? Could be something else!

BS

Interest rates cut in the Uk to 0.5% today + a statement on quantative easing should send the £ further down the toilet

[Merangue]

What is that strange sound.

Oh thats the toilet flushing, taking the pound with it.

Talk about rose colored glasses or wishful thinking. We'll be lucky if there is a pound this time next year. I would say dropping to 40 would be a reprieve.

Why, eastern Europes banking problems with take down the UK also. swish-good bye cruel world.

That strange smell? Could be something else!

BS

Interest rates cut in the Uk to 0.5% today + a statement on quantative easing should send the £ further down the toilet

Both of these are already factored into the low £ already. Not exactly a surprise as both of these have been expected and talked about in detail for weeks.