Urgent People Prayer Needed..!

[jasonr3255]

I used to love coming to thailand changing at 70 baht to the £. last year i panicked and changed a wad of cash at 46, now its at a measley 52 again and dropping like a stone. Please please can we all join hands and pray it returns to at least 60-65 within the next 3 weeks....! lol

[SeanMoran]

There's a sort of general thread on these matters at the thread below:

http://www.thaivisa.com/forum/Euro-Thb-Rat...ml#entry3248677

Boohoo.

[MJP]

PIMCO give an 80% chance of UK downgrade from AAA. Sovereign debt crisis similar to the 1970's expected shorty.

Don't forget it was 38-40 Thai Baht to the Pound from around 1991 to 1997. Pretty much flat lined.

Heard someone mention the Quid was expected to fall 10% in the New Year because of QE.

Never surprise me to see it at parity with the Zimbabwean Dollar soon.

[KarenBravo]

It's been in the 50's for awhile now with a brief sojourn at 49. You'll need more than prayers to make it move above 60.

You can't just keep printing money to bail out the banks without debasing the currency.

[MJP]

It's been in the 50's for awhile now with a brief sojourn at 49. You'll need more than prayers to make it move above 60.

You can't just keep printing money to bail out the banks without debasing the currency.

50 - 55 I can cope with. Much lower and who knows?

The big one's, the Black Swans coming up I see as, 1. Bond strike, 2. Downgrade, 3. Hung Parliament at the next GE.

Could go a lot lower yet.

[147SAG]

Why don't you all say a prayer for my Father-in-law he just found out he has liver cancer yesterday, and it is too far along to operate. We aren't sure how long he has now. He is a very nice man and has helped me so much since I have come to Thailand. Money isn't eveything there is more to life than money and we all can get along with a little less.

[geriatrickid]

For a secure currency, consider the Canadian Dollar. The Russian Central Bank has been gobbling them up. A currency is only as good as the nation's backing assets and with lots of resources, energy and a fairly diversified economy, the dollar is going to stay strong even if the USD and european currencies go into the toilet.

[KarenBravo]

^

Ditto the Australian dollar.

[QED]

LOWER LOWER!!

I get paid in baht now and send some savings back to the UK every month, 40 would be a good rate.

Sorry......I'll get my coat

[bdenner]

All the "God bothering" in the world will not change the incompetency and greed shown by the UK banking system last year and the results there of. Clean up your mess at home and maybe, just maybe, you could see an improvement in your X-rates BUT don't hold your breath waiting for it.

Countries like Canada and Australia were smart enough not to get caught up in it and reaping the benefits now.

[slim]

The GBP/Thai Baht exchange rate follows the GBP/USD exchange rate.

If the economic situation in the USA improves (increased new home sales, lower unemployment, increased core retail sales etc) the pressure will be on for the FED to raise interest rates.

The UK is in no position to follow therefore the GBP will fall gainst the USD and hence will fall against the Thai Baht.

I expect the GBP to hold its own generally against the Thai Baht over the next 2-3 months but as soon as the Fed starts taking a more hawkish stance with the USD we'll soon be sub 50 for the GBP/THB.

If the result of the forthcoming election is not clear cut (i.e a Tory win but with no overall majority - which is possible) the GBP will crash.

The outlook for the next 12 months is at best dismal and could be much worse than dismal as far as the GBP exchange rate against the THB.

The only real hope is that the the G.D.P. number for the first quarter is better than expected and this leads to increases in retail sales, new home sales and employment.

I somehow doubt this will happen though.

[MJP]

The GBP/Thai Baht exchange rate follows the GBP/USD exchange rate.

If the economic situation in the USA improves (increased new home sales, lower unemployment, increased core retail sales etc) the pressure will be on for the FED to raise interest rates.

The UK is in no position to follow therefore the GBP will fall gainst the USD and hence will fall against the Thai Baht.

I expect the GBP to hold its own generally against the Thai Baht over the next 2-3 months but as soon as the Fed starts taking a more hawkish stance with the USD we'll soon be sub 50 for the GBP/THB.

If the result of the forthcoming election is not clear cut (i.e a Tory win but with no overall majority - which is possible) the GBP will crash.

The outlook for the next 12 months is at best dismal and could be much worse than dismal as far as the GBP exchange rate against the THB.

The only real hope is that the the G.D.P. number for the first quarter is better than expected and this leads to increases in retail sales, new home sales and employment.

I somehow doubt this will happen though.

Agree entirely. The UK is one country that really is facing the perfect storm.

[MJP]

For a secure currency, consider the Canadian Dollar. The Russian Central Bank has been gobbling them up. A currency is only as good as the nation's backing assets and with lots of resources, energy and a fairly diversified economy, the dollar is going to stay strong even if the USD and european currencies go into the toilet.

Exactly. And you have to ask yourself just what the UK has of value to make its currency appreciate?? The answer is NOTHING!

Getting scary innit?

UK needs to look to support itself from within now. Bit of a post-1997 IMF Thailand scenario.

Shame all the printed cash needed to make this happen went to the banksters.