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1 Gbp = 47.37 Thb And Falling


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ive been heere since nov, changed a load of £ got 53, i still keep watching the £fall,i can not beleive how its slid,18 months we were getting 71, thai is know more expensive than the uk by miles. keep out the go go bars dont buy any lady drinks! but yes reall bad news, thanks for the good link.

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yes not good news, i agree, onlyway to combat it is a slight change in lifestyle, i started being a "cheap charlie" about six weeks ago and amazing how much you can actually save, now 1000 baht is over 20 quid, it makes thailand now comparable to the uk, a shop round tesco lotus is getting close to a shop around the uk...scary really...wheres it gonna end?? possibly a much earlier than planned flight back to the uk?

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Are folks in the UK getting worried about leaving monies in the banks there?

Just wondering.

They will all be nationalised in a couple of months anyway, there is no alternative.

It's really no problem, you see Brown has said that no UK saver will loose deposits.

And he is the man to guarantee them, because when UK ltd goes tits up, and we all clamour for our GBPs, Brown and Darling will standing outside the printing factory dishing out GBP's in neat rolls, which you can conveniently hang next to the toilet to wipe your arse on.

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They will all be nationalised in a couple of months anyway, there is no alternative.

It's really no problem, you see Brown has said that no UK saver will loose deposits.

And he is the man to guarantee them, because when UK ltd goes tits up, and we all clamour for our GBPs, Brown and Darling will standing outside the printing factory dishing out GBP's in neat rolls, which you can conveniently hang next to the toilet to wipe your arse on.

Same here a few months back everyone was getting nervous. But they upped the FDIC insurance to 250k per saver

Although I always thought they just did that because they knew they couldnt even pay the 100k previously promised if everyone ran.

For the most part many here feel the same as you folks there....

Meaning our dollars seem to be getting thinner in substance.

These will be interesting years ahead eh?

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Are folks in the UK getting worried about leaving monies in the banks there?

Just wondering.

They will all be nationalised in a couple of months anyway, there is no alternative.

It's really no problem, you see Brown has said that no UK saver will loose deposits.

And he is the man to guarantee them, because when UK ltd goes tits up, and we all clamour for our GBPs, Brown and Darling will standing outside the printing factory dishing out GBP's in neat rolls, which you can conveniently hang next to the toilet to wipe your arse on.

pretty close to the truth.............sad to see how far down the UK has gone.next thing that may happen is social disintergration.AT least in thailand its warm and easy to tightened the wallet.

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More good news:

“I would urge you to sell any sterling you might have,” said Jim Rogers, chairman of Singapore-based Rogers Holdings, in an interview with Bloomberg Television. “It’s finished. I hate to say it, but I would not put any money in the U.K.” Rogers correctly predicted the start of the commodities rally in 1999.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

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More good news:

“I would urge you to sell any sterling you might have,” said Jim Rogers, chairman of Singapore-based Rogers Holdings, in an interview with Bloomberg Television. “It’s finished. I hate to say it, but I would not put any money in the U.K.” Rogers correctly predicted the start of the commodities rally in 1999.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Do you, or does anybody, believe a word that comes out of the mouths of these cretins anymore?

"I hate to say it, but I would not put any money in the U.K." so where would you suggest slimeball? How about Rogers Holdings? These creeps created this mayhem and now all they can think about is how to profit from it.

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its gone up a bit

Live rates at 2009.01.20 07:17:04 UTC

Notice: The THB rate shown below is the international rate. Rates used within Thailand may vary.

100.00 GBP = 4,958.24 THB

United Kingdom Pounds Thailand Baht

1 GBP = 49.5824 THB 1 THB = 0.0201685 GBP

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More good news:

“I would urge you to sell any sterling you might have,” said Jim Rogers, chairman of Singapore-based Rogers Holdings, in an interview with Bloomberg Television. “It’s finished. I hate to say it, but I would not put any money in the U.K.” Rogers correctly predicted the start of the commodities rally in 1999.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Well, I think I'll have more than a few beers today after that cheery news.

There are some 1,000,000 Brit expats presumably dependent on the GBP.

Most of the ones I know are living on pensions in the range 6,000 to 10,000 /year and more than a few struggle to put the 800,000 in the banks for the retirement visa renewal. Doesn't bear thinking about.

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"I hate to say it, but I would not put any money in the U.K." so where would you suggest slimeball? How about Rogers Holdings? These creeps created this mayhem and now all they can think about is how to profit from it.

I would choose a much stronger term than slimeball for these guys. The currency speculators are hovering around looking for a currency to knock and short, then they all pile in making "profits". But at whose expense? It's just one big fukcing game to them. So they make a a billion shorting, but all the expats relying on the GBP lose much much more and for a lot longer. The end result is once again wealth being sucked away from the earners and workers into the speculators pockets.

I am about to move even more from GBP to THB today. I'd rather have Bahts I can spend than Brown's toilet paper.

And for those of you following all the "risk assessment and pricing", why can't we demand an interest rate to compensate for the risk we take in holding the GBP? I reckon about 20% / year minimum.

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I am about to move even more from GBP to THB today. I'd rather have Bahts I can spend than Brown's toilet paper.

And for those of you following all the "risk assessment and pricing", why can't we demand an interest rate to compensate for the risk we take in holding the GBP? I reckon about 20% / year minimum.

you are too modest :o

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The UK will pull though this with flying colors. The lowest ebb of the tide is the turn of the tide.

This is all too true. Every country goes thru a bad time and Britain has been there before. In the 1970's we were on the verge of Bankruptcy and had to go cap in hand to the IMF. We got thru that and two world wars and the great depression.

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The UK will pull though this with flying colors. The lowest ebb of the tide is the turn of the tide.

This is all too true. Every country goes thru a bad time and Britain has been there before. In the 1970's we were on the verge of Bankruptcy and had to go cap in hand to the IMF. We got thru that and two world wars and the great depression.

Yep, there's no doubt about it we Brits really know how to have a cr@p time. :o

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Around eight months ago I read on the internet that the GBP will drop to 40 baht to the pound, at the time I thought no way, I just wish that I could find the site that i read it on. :o

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Are folks in the UK getting worried about leaving monies in the banks there?

Just wondering.

They will all be nationalised in a couple of months anyway, there is no alternative.

It's really no problem, you see Brown has said that no UK saver will loose deposits.

And he is the man to guarantee them, because when UK ltd goes tits up, and we all clamour for our GBPs, Brown and Darling will standing outside the printing factory dishing out GBP's in neat rolls, which you can conveniently hang next to the toilet to wipe your arse on.

:o:D:D .................. :D:D:wai: .......too true. With the Bank of Scotland also becoming a lame duck things can only get worse.. Still, colourful toilet paper could come in handy since theres no telling where the pound will ' bottom out ' . The real problem is that if I tighten my belt anymore my gonads could turn green :P

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Foreign Currency Exchange Report 20 January 2009

Date: 20 January 2009

Sterling

We saw a dark day for the UK economy yesterday with the largest loss ever posted by a UK company. The previous record was set by Vodaphone with a loss of £22 Billion in 2006. RBS has been the latest bank to reveal eye-watering losses, this caused shares to drop up to 70% and consequently we saw the Pound exchange rate drop as well. RBS admits it is expecting to post a loss of up to £28 Billion. Part of the reason for this was the crippling take-over of ABN Ambro's investment assets for 14.3 Billion Euros. Gordon Brown even spoke out to say that he was "angry at the Royal Bank of Scotland for what has happened." This is just part of the reason why we are expecting the Pound to get battered again over the coming months.

The second bail-out plan announced by Gordon Brown officially yesterday morning was not received well by the markets and hence we have seen the Sterling exchange rate suffer against all major currencies. The new bail-out guarantees toxic assets (failing investments) by giving the Bank of England the power to buy securities to a value of £50 Billion. The government plans to give Banks access to this money only if it agrees to increase lending in a legally binding contract.

The government is also going to insure the Banks by underwriting loans. The banks will pay the government a fee and will absorb a small share of any loss and the Treasury will take on the rest of the loss.

Also today inflation figures will be released we are expecting inflation is expected to slow by 0.8%. Many are expecting a larger fall in inflation, either way we should see further negative Sterling movement because as Inflation falls the potential to cut interest rates further increases. Investors are expecting another cut from the 1.5% level, which is already a historic low.

So what is the Pound exchange rate expected to do over the next month? The bail-out plan and the struggling UK banks are expected to cause Sterling to continue to drop as investors move their money to the perceived safe haven of the US, so this could cause the Pound to weaken further.

To cut a long story short the UK economy is in dire straits and it desperately needs some good news against its closest competitors in the world stage. Unless we see some spectacular news the economy will not improve dramatically, so it may not be worth holding out for that elusive better rate as most pointers are leading to more woes for the Pound.

Euro

With the news above you would think that the Eurozone is having a fantastic time, enjoying the Euro currency strength. I must point out that the Euro has continued to fall against the Dollar quite dramatically. This is because the Eurozone is in real trouble, the worst since World war two and the economy will contract for the first time since the introduction of the Euro currency. Yesterday Jean Claude Trichet (Governor of the European Central Bank) announced predicted growth rates in 2009 of -1.9%. Also the European monetary affairs commissioner, Joaquin Almunia, said that "the overall look was grim".

This in turn has meant European companies having to slash spending and cut jobs, meaning unemployment is expected to soar over the coming months. This has sent investors scurrying off to the US again. Sadly these investors have not considered coming to the UK as our economy is in an even worse position, this is why we have seen the Euro actually continue to strengthen against Sterling.

Today we will have the announcement of the second refinancing operation in the Eurozone. The ECB is expected to offer funds to help flagging industries within the Eurozone. Up to 50 Billion Euros including tax cuts is expected to be made available to Germany Automobile companies along with a 26 Billion Euro stimulus package for France. If these are agreed and further plans are announced it could well mean further strength against the Pound. However many investors are expected to see this move as too little too late and is unlikely to halt the Euro sell off as investors buy Dollars.

US Dollar

The Dollar is continuing to enjoy strength against most major currencies this morning the Dollar hit the lowest point for at least eight years against the Pound and things are expected to continue. Many investors have come out saying that Sterling is finished, legendary investor Jim Rogers, chairman of Roger Holdings based in Singapore, said the following yesterday: "I would urge you to sell any Sterling you might have," said Rogers. "It's finished. I hate to say it, but I would not put any money in the U.K."

This, unfortunately, is the sentiment of many investors throughout the world. Investors are turning their back on the UK and turning to the US. Many believe that the Dollar strength has gone beyond just Obama mania. However with Obama announcing that he is going to try and secure the rest of the TARP funds and the fact that he will bring in his own ways of dealing with the recession should mean that we will remain to see Dollar currency strength for a while to come yet.

Other currencies

We have seen the Australian and New Zealand Dollar weaken off recently against the Dollar after low inflation reports giving the central banks scope to cut rates. However although both lost out to the Euro and Dollar, the Pound still continues to suffer as the whole world shuns the Pound.

As I have outlined above Sterling is in a desperate situation with no light at the end of the tunnel, with predictions for the Pound vs the Dollar at 1.30 and some even at 1.20 there has never been a more important time to speak with your broker. We can guide you through these turbulent times and try and limit your loss.

Data out today

UK CPI (inflation) (9:30am)

German ZEW Survey

ECB Anounces Results of Special Term Refinancing Operation (10:15am)

Please call Foreign Currency Exchange on +44 (0) 20 7989 0000 to discuss your currency exchange requirements.

yell_dot.gif Copyright © 2009 Foreign Currency Exchange. All Right Reserved.

Edited by taxexile
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UK no oil no gas left, possibly 5-10 years at best that is what kept the UK going.

i know they have a defence industry. lots of imigrants financial hub in london wiped out mabye US will bail them out.

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