Thai Baht Getting Stronger Any Ideas

[Mali1964]

Hi all, does anyone know why the Bahts starting to gain again was getting all excited as it raised to a high of 67.0 on 1st July But Did a ATM today its down to 64.3

Shaun

[RakJungTorlae]

Hi all, does anyone know why the Bahts starting to gain again was getting all excited as it raised to a high of 67.0 on 1st July But Did a ATM today its down to 64.3

Shaun

Is this a game??

[britmaveric]

Buy $

[Chaimai]

Hi all, does anyone know why the Bahts starting to gain again was getting all excited as it raised to a high of 67.0 on 1st July But Did a ATM today its down to 64.3

Shaun

Is this a game??

Life is just a game - the Baht rate is simply a consequence of that

Edited August 9, 2008 by Chaimai

[Mali1964]

Never mind, thought any one with any political/financial market links could have given a more educated answer ie crude price fall or that Bush came here lol (for my game ) this i why i never post on here that often to much sarcasm.

[Mali1964]

Sorry mods its in totally the wrong forum can you please move to the general topics.

[russianrobert]

Hi all, does anyone know why the Bahts starting to gain again was getting all excited as it raised to a high of 67.0 on 1st July But Did a ATM today its down to 64.3

Shaun

The Bank of England last week kept interest rates on hold. The markets believe this is a signal that the next move by the B.O.E will be down.

Lower interest rates affect the value of the pound.

Top compound matters, Europe is falling into a recessionary cycle. Probably more severe than the U.S. The Euro slumped against the dollar last week the pound followed suit.

[Familyonthemove]

I think you can thank Mr Brown and his dithering management of the UK.

Pound likely to fall against Baht as the UK economy will lag behind most Asian countries for a while. Emerging countries like Cambodia will help drive up Thai economy and China effect still got some legs left.

Dollar may be better for a while?

No idea what impact Georgia will have on world economy .... but energy prices in Europe likely to rise, which will not help.

Where in the world has peace broken out? Seems to be war, terrorism and violence everywhere .... which will cause more suffering for people and unstable markets everywhere.

In the 21st Century I thought we'd all be swooshing around in hydrogen powered flying cars and saving the whales .... not watching Russian tanks on the news.

Makes a change from Iraq I suppose.

[wolfmanjack]

the baht isn't getting stronger the pound is getting weaker.

[russianrobert]

the baht isn't getting stronger the pound is getting weaker.

Very true. Thailand is facing a raft of problems itself.

Interesting article in the Telegraph today, re-the UK economic problems and the UK goverment's response to it.

http://www.telegraph.co.uk/money/main.jhtm...0/ccliam110.xml

[Mali1964]

Buy $

I,v taken a look at this buy US dollar idea & can see that its about 64 baht to the pound that this starts to become an advantage.

Exchange say £1000 to dollars @ $1.92 rate today $1920 not sure if thats the rate i would get from banks back home but lets say i did, also commission charges if there are any have to be considered here.

£1000 @ 67 baht on 1st July would have give me. 67,000 Baht.

£1000 @ 64 baht today gets me only. 64,000 Baht.

$1920 @ 33.52 on 1st July would have given me. 64,435 Baht.

$1920 @ 33.63 today would give me. 64,546 Baht

So this is worth a look at for any big transfers anyone is doing, & something i will concider if i do big tranfers in the future, but at the moment i,m just withdrawing living expences from my UK current acc with the Nationwide, which is good & i hope others are aware that they give almost the market exchange rate with no charges what so ever saving on say 20,000 baht withdrawal around £15/£20. They are the only bank in the UK to offer this.

Hope i,v got the idea right

[Mali1964]

Great replys thats put me well in the picture, just so pre occupied with getting our business running here that i,v forgot to look at our Mr Brown & co back home & some of the other world issues that could affect it.

Thanks Shaun

[russianrobert]

Buy $

I,v taken a look at this buy US dollar idea & can see that its about 64 baht to the pound that this starts to become an advantage.

Exchange say £1000 to dollars @ $1.92 rate today $1920 not sure if thats the rate i would get from banks back home but lets say i did, also commission charges if there are any have to be considered here.

£1000 @ 67 baht on 1st July would have give me. 67,000 Baht.

£1000 @ 64 baht today gets me only. 64,000 Baht.

$1920 @ 33.52 on 1st July would have given me. 64,435 Baht.

$1920 @ 33.63 today would give me. 64,546 Baht

So this is worth a look at for any big transfers anyone is doing, & something i will concider if i do big tranfers in the future, but at the moment i,m just withdrawing living expences from my UK current acc with the Nationwide, which is good & i hope others are aware that they give almost the market exchange rate with no charges what so ever saving on say 20,000 baht withdrawal around £15/£20. They are the only bank in the UK to offer this.

Hope i,v got the idea right

I agree that buying the dollar could be a good idea but betting on the green back is not without it's risks.

Remember, the dollar has already appreciated significantly vis a vis the pound recently.

Shutting the gate after the horse has bolted springs to mind.