£ Up 2 Baht To 49 At Close Last Night

[Merangue]

The fact that the likes of France complaining about the £ being undervalued and therefore giving the UK advantage over the Eurozone is likely to be a plus for the UK not a negative in both the short term and the medium to long as well.

The Germans, Irish as well as the French are well annoyed over Brown's devaluation of Stirling, which is seen as an unfair tactic.

Brown (through some mouthpiece) has already stated that he is not interested in the value of Stirling, presumably meaning he is interested in it, but not in a high value.

Possibly Soros hat the biggest effect when he said that he had now covered his bets on the downside. This would certainly have affected the sentiment of the currency speculators for the short term.

Unfortunately with no good news on the horizon in the UK, and as long as Brown is trying desperately to get himself re-elected rather than make a serious attempt to fix the fundamental problems, the GBP is destined to remain weak for a few years.

What would you class as weak in comparison to the Baht? 50? 55? 60? 65?

55 would be very good, 60 would be truly excellent.

Between 55 and 60 by late March would be good for my bank balance. Got to pay for a Wedding and this Exchange rate is not great.

[dsfbrit]

I see you are referring to Soros and his shorting of the pound. I saw an interview on the BBC with Soros in Davos about this and he stopped shorting the pound at 1.40 to the dollar. He said shorting from 2.00 down to 1.40 was an obvious trade, but below that was not so certain. So he is not longer shorting the pound below its current level. Mind you, thats what he is 'saying', I have no idea what he is actually 'doing'

I have to bring over 600,000 Baht to top up my bank balance for my visa renewal in August. Its not a lot of money I suppose, but I will start now and do it at 2000 pounds a month.

edit: I suspect my guesses are as good as many 'experts' I have read in the media recently so I will use my mathematical model to generate a response. And the number I have come up with is 55 Baht / Pound by end of February 2009. Thats because it was 'tails'.

Edited February 1, 2009 by dsfbrit

[Lix]

Why did i get over excited, it was 52 until this morning now 50.5 again ! Darn this inconsistency

[Mali1964]

Why did i get over excited, it was 52 until this morning now 50.5 again ! Darn this inconsistency

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

[cclub75]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

[Mali1964]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

[Merangue]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

[Mali1964]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

That's a good site, so you can check this before you go off down to the ATM.

The difference is over 80 satang between all the banks at this moment Thanks

[henryalleman]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

That's a good site, so you can check this before you go off down to the ATM.

The difference is over 80 satang between all the banks at this moment Thanks

Yes but also different times and dates, and you should read this

Percentage difference between minimum and maximum exchange rates above = 4.15%

maybe you can consult this website also when you make purchases with a Visa credit card

http://www.corporate.visa.com/pd/consumer_...er_ex_rates.jsp

[Lix]

XE is always pretty much bang on what Nationwide give me on withdrawals.

OK now the pound is 49.6....can someone tell me why the dip again, i didn't for a minute think the pound was stronger but at least thought the baht was finally dipping !

[chiang mai]

XE is always pretty much bang on what Nationwide give me on withdrawals.

OK now the pound is 49.6....can someone tell me why the dip again, i didn't for a minute think the pound was stronger but at least thought the baht was finally dipping !

Check the Reuters or FT headlines when that happens, usually the reason is right there - typically it's because Mervyn King said something! Barclays just got down graded by the ratings agencies, maybe that's a part of the answer.

[Mali1964]

Just this minute been to the ATM, got on to Nationwide on-line they gave me 49.93 so its Holding at the moment lets see what the business day brings tomorrow more good news i hope.

XE is giving it at 52. It went up a bit yesterday so probably when everything opens up on Monday it will be 51 something. http://www.xe.com/ucc/convert.cgi

I hope so I'll check it in a couple of days when it actually hits the account page,I thought the price was set as you drew it from the ATM, but from what you say Nationwide can still adjust that figure, must say I've not seen it happen in previous withdrawals but I live in hope it does.

How Happy we are to be talking about 50 Baht plus for our pound who would have thought hey, but yes it is some good news never the less, one Leo coming up for me lol.

XE is always pretty much bang on what Nationwide give me on withdrawals.

OK now the pound is 49.6....can someone tell me why the dip again, i didn't for a minute think the pound was stronger but at least thought the baht was finally dipping !

I thought the same, but look last night i drew cash at 49.93 with Nationwide, this amount is as i thought fixed at the time you use the ATM even at the weekend's, the rate i got was when XE was showing 52 baht so the post about Thai bank rate appears to be bob on to me.

If your wondering how i new that was the rate without the transaction showing online, when you check your balance online its shows your cleared funds immediately after using the ATM take this from your Last balance & so long as no other pending transactions are outstanding, walla you have the rate.

Its always been spot on for me seems there never was this 52 rate,maybe for overseas exchange? Anyway i'm sticking to these new sites brought to my attention in this post.

[cclub75]

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

Granted. This one is great. Thanks.

[hansnl]

I never thought I would be happy to see this, GBP Pound Sterling 50.2412 THB at 2333 today.

Not so long ago it was 50 baht against the Euro

Now, that were the times

[Maigo6]

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

Granted. This one is great. Thanks.

Thanks for that link Merangue, it's great.

[Mali1964]

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

Granted. This one is great. Thanks.

Thanks for that link Merangue, it's great.

Nice to Mango in a complimentary mood good on ya mate

[12DrinkMore]

To all those hopeful Brits, and I am amongst you.

Brown has no interest in trying to support the GBP. He sees a weak GBP as a GOOD THING, as, in his warped little braincell, he thinks this will somehow revive the economy by creating a huge demand for UK manufactured goods. Somehow he has forgotten that there is nothing to export and he is farting into the hurricane. Britain relies on imports for basic goods and a weak GBP will hit the supermarket shelves in a month or two.

IMO, and doubtless there are many other opinions, and indeed many others who are still in denial about the parlous state of the UK economy, all I can see is a steady or maybe sudden decline in the GBP down to parity with the USD. And why do I think this, you ask. Easy, because the fukcing speculators have already put it in their sights. Just watch them in their glee and delight as the once almighty GBP slides gracefully past the Euro and then further down until the speculators have brought it to the level of the USD. Lets hope for a strong USD, as it might alleviate the pain in the UK.

IMO Brown should immediately admit he is wrong and put up the interest rate to above the Euro rate, say around 3.5%. The forecast reduction this week is just crazy, Brown is now a one man show and dictating what the MPC should do, but it will happen, taking the GBP down to the destination, parity with the USD. Lowering interest rates, he reckons, will enable the bloated debts to be paid off. Investment is not going to take place in this climate and to educate the workforce will take many years. There are thousands of redundancies being announced on a daily basis.

Who knows what Soros is really doing? But it is fairly certain that any public comment by him will affect the market and he knows this, so he will be looking to make a margin call. How about a small rise in the value of the GBP and then another fall?

I am very pessimistic and can see the GBP easily slipping down to the USD, so we could be looking at rates of below THB 40 before the year is out.

Sorry, but that's my call and I am reducing GBP just as fast as I can.

Now, if you can offer any optimism against this, then post it. But unless the GBP interest rate is increased, there is some indication that the bank bailouts have stopped and there are some valid actions to reduce the immense public spending, I will remain in my depressed state.

Edited February 2, 2009 by 12DrinkMore

[lannarebirth]

XE is always pretty much bang on what Nationwide give me on withdrawals.

OK now the pound is 49.6....can someone tell me why the dip again, i didn't for a minute think the pound was stronger but at least thought the baht was finally dipping !

Check the Reuters or FT headlines when that happens, usually the reason is right there - typically it's because Mervyn King said something! Barclays just got down graded by the ratings agencies, maybe that's a part of the answer.

You've been watching this long enough to know, thats never the reason.

[Merangue]

To all those hopeful Brits, and I am amongst you.

Brown has no interest in trying to support the GBP. He sees a weak GBP as a GOOD THING, as, in his warped little braincell, he thinks this will somehow revive the economy by creating a huge demand for UK manufactured goods. Somehow he has forgotten that there is nothing to export and he is farting into the hurricane. Britain relies on imports for basic goods and a weak GBP will hit the supermarket shelves in a month or two.

IMO, and doubtless there are many other opinions, and indeed many others who are still in denial about the parlous state of the UK economy, all I can see is a steady or maybe sudden decline in the GBP down to parity with the USD. And why do I think this, you ask. Easy, because the fukcing speculators have already put it in their sights. Just watch them in their glee and delight as the once almighty GBP slides gracefully past the Euro and then further down until the speculators have brought it to the level of the USD. Lets hope for a strong USD, as it might alleviate the pain in the UK.

IMO Brown should immediately admit he is wrong and put up the interest rate to above the Euro rate, say around 3.5%. The forecast reduction this week is just crazy, Brown is now a one man show and dictating what the MPC should do, but it will happen, taking the GBP down to the destination, parity with the USD. Lowering interest rates, he reckons, will enable the bloated debts to be paid off. Investment is not going to take place in this climate and to educate the workforce will take many years. There are thousands of redundancies being announced on a daily basis.

Who knows what Soros is really doing? But it is fairly certain that any public comment by him will affect the market and he knows this, so he will be looking to make a margin call. How about a small rise in the value of the GBP and then another fall?

I am very pessimistic and can see the GBP easily slipping down to the USD, so we could be looking at rates of below THB 40 before the year is out.

Sorry, but that's my call and I am reducing GBP just as fast as I can.

Now, if you can offer any optimism against this, then post it. But unless the GBP interest rate is increased, there is some indication that the bank bailouts have stopped and there are some valid actions to reduce the immense public spending, I will remain in my depressed state.

My god man. Every time i read one of your posts i want to reach for a razor blade.

You are so negative about the GBP in every post i wonder if you have a stake in there being a run on the UK currency.

Name would not be Soros by any chance would it?

[Merangue]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

That's a good site, so you can check this before you go off down to the ATM.

The difference is over 80 satang between all the banks at this moment Thanks

Yes but also different times and dates, and you should read this

Percentage difference between minimum and maximum exchange rates above = 4.15%

maybe you can consult this website also when you make purchases with a Visa credit card

http://www.corporate.visa.com/pd/consumer_...er_ex_rates.jsp

To be honest the high percentage rate difference is actually due to the Super rate top and bottom of the cash lines. Switch to TT rates for TC's and ATM's and you will find as the supers are removed the % narrows rapidy.

Only problem one is the Bank of Ayudha which for some unknown reason has not updated since 27/01/2009 on this spread.

[chiang mai]

XE is always pretty much bang on what Nationwide give me on withdrawals.

OK now the pound is 49.6....can someone tell me why the dip again, i didn't for a minute think the pound was stronger but at least thought the baht was finally dipping !

Check the Reuters or FT headlines when that happens, usually the reason is right there - typically it's because Mervyn King said something! Barclays just got down graded by the ratings agencies, maybe that's a part of the answer.

You've been watching this long enough to know, thats never the reason.

I think you'll find that on this occasion it was indeed the Barclay's downgrade that caused the latest fall. After all, breaking news that can't be anticipated must be factored into he market at some point and not all movement is the result of planned strategy plays. If you see things differently I will be interested to know however.

[rak sa_ngop]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

That's a good site, so you can check this before you go off down to the ATM.

The difference is over 80 satang between all the banks at this moment Thanks

Yes but also different times and dates, and you should read this

Percentage difference between minimum and maximum exchange rates above = 4.15%

maybe you can consult this website also when you make purchases with a Visa credit card

http://www.corporate.visa.com/pd/consumer_...er_ex_rates.jsp

To be honest the high percentage rate difference is actually due to the Super rate top and bottom of the cash lines. Switch to TT rates for TC's and ATM's and you will find as the supers are removed the % narrows rapidy.

The lowest GBP cash rate quoted is always for GBPS (not GBP) and this low rate results in the large percentage spread at the time. Not sure what the GBPS stands for. Maybe it is for coins?????

[chiang mai]

E mail just in from [email protected]

THB Thailand Baht

0.0194553869

51.3996461167

forget those currencies website... Go to the source : a thai bank.

And a big one.

SCB

http://www.scb.co.th/exchange/bk-pvsexchange.htm

At 4 PM local time, SCB was buying GBP at 49,44 (TT) and selling at 50,04 (TT).

This the reality from the "ground". This is what a thai bank will give you for GBP.

Thanks, i have used this site in the past but never truly clicked on that its the Thai Banks themselves setting the rate for the cash we draw from ATM,s here,this page with all the times of the change is very handy,

The bank itself i wouldn't go near as its the only one i know of in Thailand that makes ATM service charge's that i'm sure your aware of.

Cheers for that.

For comparison of the bank rates i find this link the best by far.

http://bankexchangerates.daytodaydata.net/default.aspx

That's a good site, so you can check this before you go off down to the ATM.

The difference is over 80 satang between all the banks at this moment Thanks

Yes but also different times and dates, and you should read this

Percentage difference between minimum and maximum exchange rates above = 4.15%

maybe you can consult this website also when you make purchases with a Visa credit card

http://www.corporate.visa.com/pd/consumer_...er_ex_rates.jsp

To be honest the high percentage rate difference is actually due to the Super rate top and bottom of the cash lines. Switch to TT rates for TC's and ATM's and you will find as the supers are removed the % narrows rapidy.

The lowest GBP cash rate quoted is always for GBPS (not GBP) and this low rate results in the large percentage spread at the time. Not sure what the GBPS stands for. Maybe it is for coins?????

GBPS = Great Britain Pounds Sterling