The Quid

[gardenubon]

50.41 baht to the pound! arrrggh

[chiang mai]

Get used to it, sorry, but it's never ever going back to anywhere close to 70 again.

[Chaimai]

Get used to it, sorry, but it's never ever going back to anywhere close to 70 again.

A BOLD statement CM - the sort of statement that could come back and bite you in the 4rse .

As James Bond said "Never say never".

Maybe we will never see 70 again and my prediction last year of "60 by Xmas" fell well short. I now get excited if it moves over 53 !

I still believe THB/GBP is somewhat artificial, as is the apparent "strength" of the Baht.

As for the demise of GBP well, I remember last year several experts on the Financial Crisis thread were calling parity with the USD and sub-parity vs EUR. The fact I bought at 1.70 must have been an Act of God.

[downtown]

hoping that talk of coup next week might decrease the baht slightly, 53 would be nice

[JackSterling]

It was 25 baht to $1.00 USD in March 1994.. then over 40 in October 2003 and now about 30 baht.. Feb. 1010

[Chaimai]

It was 25 baht to $1.00 USD in March 1994.. then over 40 in October 2003 and now about 30 baht.. Feb. 1010

I suppose with a name like Sterling you can be forgiven for posting about the Dollar on a thread entitled "The Quid"

[chiang mai]

Get used to it, sorry, but it's never ever going back to anywhere close to 70 again.

A BOLD statement CM - the sort of statement that could come back and bite you in the 4rse .

As James Bond said "Never say never".

Maybe we will never see 70 again and my prediction last year of "60 by Xmas" fell well short. I now get excited if it moves over 53 !

I still believe THB/GBP is somewhat artificial, as is the apparent "strength" of the Baht.

As for the demise of GBP well, I remember last year several experts on the Financial Crisis thread were calling parity with the USD and sub-parity vs EUR. The fact I bought at 1.70 must have been an Act of God.

I know I know, I had to think for a while on that before I hit the enter key and I am aware that forever is a very long time - if nothing else, I hope it gets the message across to the "still hopeful brigade" that the picture has now quite clearly changed. A good move on USD BTW.

[prakhonchai nick]

When I stepped ashore in Thailand in 1986 it was just 39bt. & 70 three years ago was great - I even topped 80 on one transfer.

Like Chaimai I had anticipated 60 at Christmas, but we got nowhere near. I am still optimistic we will reach 60 in the next couple of years.

[kimamey]

hoping that talk of coup next week might decrease the baht slightly, 53 would be nice

I keep thinking the trouble in Thailand will hit the THB but it doesn't seem to although sterling drops at the slightest hint of bad figures. I have heard somewhere that the Thai government protects the THB so it doesn't fall too much. Not sure how they do that or if it's true but it would explain a lot.

I sent 210,000 THB at 52.48 on 22nd January and I need to send at least 400,00 THB very soon. I'm not sure of the rate at the moment as Currency Online are closed for trading at the moment but I think the midrates are just over 51 so it doesn't look promising.

[Naam]

When I stepped ashore in Thailand in 1986 it was just 39bt. & 70 three years ago was great - I even topped 80 on one transfer.

Like Chaimai I had anticipated 60 at Christmas, but we got nowhere near. I am still optimistic we will reach 60 in the next couple of years.

you missed 90 Baht for a "Quid" in january 1998?

edited for addendum: ... when i got 55 Baht for a Dollar.

Edited February 20, 2010 by Naam

[kimamey]

It was 25 baht to $1.00 USD in March 1994.. then over 40 in October 2003 and now about 30 baht.. Feb. 1010

I suppose with a name like Sterling you can be forgiven for posting about the Dollar on a thread entitled "The Quid"

Leave the poor guy alone he thinks it's 1010.

[Jonathanpattaya]

Get used to it, sorry, but it's never ever going back to anywhere close to 70 again.

I don't think it will, but there are "other factors" which will affect its' value.

Edited February 20, 2010 by Jonathanpattaya

[livingthedream]

When I flew back here last week they were selling THB at 45 to the pound in Heathrow and at Swampy it was 51. ATM rates are still around 50 but factor in the bank charges and it doesn't seem so good.

should have bought into gold when the price was low. ah well....

[Chaimai]

When I flew back here last week they were selling THB at 45 to the pound in Heathrow and at Swampy it was 51. ATM rates are still around 50 but factor in the bank charges and it doesn't seem so good.

should have bought into gold when the price was low. ah well....

I should have backed Foinavon in the 1967 Grand National - but I didn't

[chiang mai]

hoping that talk of coup next week might decrease the baht slightly, 53 would be nice

I have heard somewhere that the Thai government protects the THB so it doesn't fall too much. Not sure how they do that or if it's true but it would explain a lot.

It's not true and it hasn't been true for a long time, if anything the Central Band Of Thailand is having problems keeping the lid on the Baht hence they are spending money trying to prevent the currency from becoming too strong.

[tso310]

The baht always seems strongest at this time of year. Perhaps its to do with the tourist season. The baht is closely aligned to the yen and that is exceptionally strong at the moment. Having said that I can remember getting around 32 to the pound back on the mid 80s when the pound nearly had parity with the dollar and a bottle of Singha in Soi Cowboy was 30b. Looking forward to the rate getting back up to the heady heights of the mid 50s.

[dmax]

there,s no sense in even speculating or looking at these threads anymore , no one knows

[chiang mai]

The baht always seems strongest at this time of year. Perhaps its to do with the tourist season. The baht is closely aligned to the yen and that is exceptionally strong at the moment. Having said that I can remember getting around 32 to the pound back on the mid 80s when the pound nearly had parity with the dollar and a bottle of Singha in Soi Cowboy was 30b. Looking forward to the rate getting back up to the heady heights of the mid 50s.

The Thai Baht relationship is with the US Dollar, not the Yen. Look at USD/GBP and you're looking at the GBP/THB pattern.

[Chaimai]

there,s no sense in even speculating or looking at these threads anymore , no one knows

So why did you ?

(If everyone took that view, there wouldn't have been nearly 10,000 posts on the Financial Crisis thread)

[Chaimai]

The Thai Baht relationship is with the US Dollar, not the Yen. Look at USD/GBP and you're looking at the GBP/THB pattern.

I agree 100% and I am pretty sure that the BoT have a strategy to maintain an exchange rate around 33.

[chiang mai]

The Thai Baht relationship is with the US Dollar, not the Yen. Look at USD/GBP and you're looking at the GBP/THB pattern.

I agree 100% and I am pretty sure that the BoT have a strategy to maintain an exchange rate around 33.

Probably, but GBP against USD is headed down and soon we will look for the dreaded 4x.xx number on our exchange rates.

[Chaimai]

The Thai Baht relationship is with the US Dollar, not the Yen. Look at USD/GBP and you're looking at the GBP/THB pattern.

I agree 100% and I am pretty sure that the BoT have a strategy to maintain an exchange rate around 33.

Probably, but GBP against USD is headed down and soon we will look for the dreaded 4x.xx number on our exchange rates.

CM - it gets boring agreeing with you all the time but I also think we will see sub 50 soon. However, (and I accept a wishful thinking argument) I believe it will be higher by the end of 2010.

The UK election will just be another excuse for Soros and his like to target GBP. I don't see it getting close to the 2009 low though.

I was wrong in 2009 and 2010 may be no different !

[tso310]

Just to help you understand exchange rates abit more Thailand operates a trade weighted exchange system. Korea and Singapore also operate this system. Its a bit complicated as to how it actually operates, google it if you're bored. At the end of the day those of us in Sterling are currently stuffed and there's bugger all we can do about it.

[chiang mai]

Just to help you understand exchange rates abit more Thailand operates a trade weighted exchange system. Korea and Singapore also operate this system. Its a bit complicated as to how it actually operates, google it if you're bored. At the end of the day those of us in Sterling are currently stuffed and there's bugger all we can do about it.

Horse doo doo on both points.

[binnsy]

The Thai Baht relationship is with the US Dollar, not the Yen. Look at USD/GBP and you're looking at the GBP/THB pattern.

I agree 100% and I am pretty sure that the BoT have a strategy to maintain an exchange rate around 33.

Probably, but GBP against USD is headed down and soon we will look for the dreaded 4x.xx number on our exchange rates.

CM - it gets boring agreeing with you all the time but I also think we will see sub 50 soon. However, (and I accept a wishful thinking argument) I believe it will be higher by the end of 2010.

The UK election will just be another excuse for Soros and his like to target GBP. I don't see it getting close to the 2009 low though.

I was wrong in 2009 and 2010 may be no different !

49.62 ON Friday 45 by Songkran?

[Chaimai]

CM - it gets boring agreeing with you all the time but I also think we will see sub 50 soon. However, (and I accept a wishful thinking argument) I believe it will be higher by the end of 2010.

The UK election will just be another excuse for Soros and his like to target GBP. I don't see it getting close to the 2009 low though.

I was wrong in 2009 and 2010 may be no different !

49.62 ON Friday 45 by Songkran?

There is more chance of the Tractor Boys going down by Songkran