UK Pound Collapse 47.99 against the Baht

[cavelight]

The pound is now really, seriously collapsing... 47.99 at Krungsri this morning. How low can it go? I recently read a suggestion it could get to 45-ish...

Pattaya will be a ghost town - I guess many of the girls will simply pack their bags and go back to Isaan.

If the Thai gov fails to repeg the baht/dollar rate, the planes from the UK are going to be empty.

Also, quite a few expats will not be able to survive here at 45b/pound - some will have to go home I guess...

[Neeranam]

YIPPEE

Good news for me - I'm going to the UK this month.

Also, when I send money home to my mother, she gets more.

It isn't too bad for the pensioners - it was only 37 baht to the pound when I first came here in 1992.

It might make a few of the undesirable stay away from here, or go back too.

Edited March 2, 2010 by Neeranam

[mca]

What surprised me (even last year when the pound was in the high 50s) is when my folks visited from the UK and my brother and his family visited from Oz rather than them being delighted that they could pick up cheap market t-shirts for the kids they told me they could buy cheaper at home at places like Asda. or the Oz equivalent and better quality.

I was looking at changing my car and perusing a few locally produced SUVs like the MU-7 etc. but at the current exchange rate we're looking at 26000 quid for the top end versions. That looks expensive to me for something that's not imported.

Edited March 2, 2010 by mca

[Boo]

Clothes like t-shirts & cheap day wear can be got in Uk much cheaper & better quality than Thailand.

Thailand is not nearly as cheap as people think imo.

[george]

GBP against THB is right now trading at 48.18.

Latest rates here: http://baht.thaivisa.com

Graph: http://www.google.com/finance?q=gbpthb

[garyh]

Yeah it's easy money on the Forex.

[Wolfie]

Thailand is not nearly as cheap as people think imo.

Especially if the exchange rates continue to drop... its not so bad if you can get 70b to the pound, but at 50b to the pound suddenly Thailand is expensive... for almost everything!

[BigWheelMan]

YIPPEE

Good news for me - I'm going to the UK this month.

Also, when I send money home to my mother, she gets more.

It isn't too bad for the pensioners - it was only 37 baht to the pound when I first came here in 1992.

It might make a few of the undesirable stay away from here, or go back too.

Your post is total rubbish.

Back in the early 90s the cost of living in Thailand was less than a quarter compared with today`s prices and Thai bank interest rates reached a high of 13%. Plus only 150000 baht was required for a one year Non Immigrant visa.

With an amount of 1 million baht in the bank, you could very comfortably live on the interest without tapping into the capital or need to bring over more money.

Things have changed dramatically and it`s going to be financially down hill from now on.

Edited March 2, 2010 by BigWheelMan

[angiud]

Euro drop from 49 to 44 baht...

Superbaht??

[nicksal37]

Neeranam says if the baht drops further then some of the undesirables will be kept away or go home.Does that mean if your pension is not high you are an undesirable?

[theoldgit]

It's not the Baht that's strong it's the Pound and the Euro that are weak.

With the prospect of a hung parliament in the forthcoming elections the prospects for the Pound are very dire indeed.

Am I the only one considering my future in Thailand, this forum has seen an increase in those struggling to meet the minimum financial requirements of the immigration authorities, and I am aware that a number of expats have said enough is enough and returned to their homelands.

Whilst considering my future in Thailand I have to wonder what I would be going back to.

[basinboy]

The OP wants the Thai Goverment to step in and peg the baht. The pound's slide has nothing to do with the baht, it is goingt down against everything. against the AUD it had held around $2.00 for some years, in the last 6-9 months it fell to around $1.80 right now it is $1.65.

There are financial gurus around that have made dire predictions about the long term viability of the UK economy and by definition about the value of sterling.

North Sea oil, will not last very much longer, the old stand by of "invisibles" from The City are no longer the earners they were, you don't have to buy from London, traditional manufacturing pretty much gone and a bloody big national debt.

I don't make these points as a gloating Aussie, I am English born and bred and still have lots of family and friends there.

[BigWheelMan]

It's not the Baht that's strong it's the Pound and the Euro that are weak.

With the prospect of a hung parliament in the forthcoming elections the prospects for the Pound are very dire indeed.

Am I the only one considering my future in Thailand, this forum has seen an increase in those struggling to meet the minimum financial requirements of the immigration authorities, and I am aware that a number of expats have said enough is enough and returned to their homelands.

Whilst considering my future in Thailand I have to wonder what I would be going back to.

Here is the Daily Mail report:

http://www.dailymail.co.uk/news/article-12...Parliament.html

[chiang mai]

Pound at USD 1.20 by mid year, GBP/THB around 40.

[theoldgit]

Pound at USD 1.20 by mid year, GBP/THB around 40.

I wish you would stop structuring my expectations and leave me to bury my head in the sand.

[kuffki]

Euro drop from 49 to 44 baht...

Superbaht??

Must be all that money that they took from Mr T that has boosted the baht!

[Jonathanpattaya]

The Pound and the Euro are in deep trouble and it will get worse!

[kmj]

Collapse my arse, OK not great if you need to buy baht now but it's only a 9 month low against US$...

dailymail readers, all of you

http://www.dailymail.co.uk/money/article-1...-1-20-rate.html

(from 23rd January)

Edited March 2, 2010 by kmj

[chiang mai]

The last couple of pages of this thread tells the story:

http://www.thaivisa.com/forum/Pound-Starti...64#entry3379764

If you've got money in Pounds it's probably a very good time to sell it and buy US Dollars, that's what everyone else in the world is doing.

[theoldgit]

If you've got money in Pounds it's probably a very good time to sell it and buy US Dollars, that's what everyone else in the world is doing.

That's very good advice, except for those of us who have a fixed income in GBP's.

The only thing that's keeping me going is remembering when the GBP was almost on a parr with the USD.

[craigt3365]

Here was a good thread by jingthing. George Soros is definitely worried about the Euro...seems every currency, except the Baht, is in trouble!

http://www.thaivisa.com/forum/George-Soros...-R-t343563.html

[Hawk]

it was only 37 baht to the pound when I first came here in 1992.

The pound did drop to around Baht 32 in the eighties, so if the British government doesn't see fit to repair the damage, then the pound really has no place to stop.

Greece and Britain on the same level financially, how the mighty have fallen.

[Murf]

not good... not good at all...

[neilf]

will the baht level stop tiger woods doing his re-hab in the buffallo bar

[kuffki]

will the baht level stop tiger woods doing his re-hab in the buffallo bar

Tiger is American not British

[Paulo1]

I wrote this on here Sunday. I have been short since 1.6730 zone

My feeling today Sunday 28 Feb10, If you take a mediun to long tern view. One must be fully berish the GPB. Anyrthing bullish on the GPB. SELL the GPB, Its gong to collapse within weeks.

[chiang mai]

True, but the US Dollar is also sliding against THB, not as quickly as GBP but it is steadily falling.

[alant]

it is amazing that chat and speculation can rock the currency of a g6 country and the thai baht can be supported with no problems, it is also amazing that the gian amareican ecomomic pundits can say the pound is doomed and be happy with the dollar when the fed has been printing money like toilet paper, no real logic in the dollar strength, just opinion and swagger.

i guess gordon brown will just have to tell us it is all ok eh?

[Paulo1]

I wrote this on here Sunday. I have been short since 1.6730 zone

My feeling today Sunday 28 Feb10, If you take a mediun to long tern view. One must be fully berish the GPB. Anyrthing bullish on the GPB. SELL the GPB, Its gong to collapse within weeks.

Sell into strength.

[beejoir]

Summers on its way/world cup/spending, the UK will be back on track as always by June.

Going to be a painful two months though, dam_n should have changed that cash over instead of being lazy!