gardenubon Posted February 19, 2010 Share Posted February 19, 2010 50.41 baht to the pound! arrrggh Link to comment Share on other sites More sharing options...
chiang mai Posted February 19, 2010 Share Posted February 19, 2010 Get used to it, sorry, but it's never ever going back to anywhere close to 70 again. Link to comment Share on other sites More sharing options...
Chaimai Posted February 19, 2010 Share Posted February 19, 2010 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. Link to comment Share on other sites More sharing options...
downtown Posted February 19, 2010 Share Posted February 19, 2010 hoping that talk of coup next week might decrease the baht slightly, 53 would be nice Link to comment Share on other sites More sharing options...
JackSterling Posted February 19, 2010 Share Posted February 19, 2010 It was 25 baht to $1.00 USD in March 1994.. then over 40 in October 2003 and now about 30 baht.. Feb. 1010 Link to comment Share on other sites More sharing options...
Chaimai Posted February 19, 2010 Share Posted February 19, 2010 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" Link to comment Share on other sites More sharing options...
chiang mai Posted February 19, 2010 Share Posted February 19, 2010 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. Link to comment Share on other sites More sharing options...
prakhonchai nick Posted February 19, 2010 Share Posted February 19, 2010 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. Link to comment Share on other sites More sharing options...
kimamey Posted February 20, 2010 Share Posted February 20, 2010 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. Link to comment Share on other sites More sharing options...
Naam Posted February 20, 2010 Share Posted February 20, 2010 (edited) 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 Link to comment Share on other sites More sharing options...
kimamey Posted February 20, 2010 Share Posted February 20, 2010 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. Link to comment Share on other sites More sharing options...
Jonathanpattaya Posted February 20, 2010 Share Posted February 20, 2010 (edited) 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 Link to comment Share on other sites More sharing options...
livingthedream Posted February 20, 2010 Share Posted February 20, 2010 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.... Link to comment Share on other sites More sharing options...
Chaimai Posted February 20, 2010 Share Posted February 20, 2010 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 Link to comment Share on other sites More sharing options...
chiang mai Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
tso310 Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
dmax Posted February 22, 2010 Share Posted February 22, 2010 there,s no sense in even speculating or looking at these threads anymore , no one knows Link to comment Share on other sites More sharing options...
chiang mai Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
Chaimai Posted February 22, 2010 Share Posted February 22, 2010 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) Link to comment Share on other sites More sharing options...
Chaimai Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
chiang mai Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
Chaimai Posted February 22, 2010 Share Posted February 22, 2010 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 ! Link to comment Share on other sites More sharing options...
tso310 Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
chiang mai Posted February 22, 2010 Share Posted February 22, 2010 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. Link to comment Share on other sites More sharing options...
binnsy Posted February 27, 2010 Share Posted February 27, 2010 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? Link to comment Share on other sites More sharing options...
Chaimai Posted February 27, 2010 Share Posted February 27, 2010 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 Link to comment Share on other sites More sharing options...
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