Hung Parliament Sends Uk Pound Crashing...!

[jasonr3255]

Retirement in the los is looking more and more ominous now. UK pound sliding down a well oiled slope, UK looking to be badly credit rated, double dip recession looming, anybody care to join me in the famous Pattaya Balcony Dive comp...! LOL

[Chaimai]

.... and the hung parliament was a surprise to the market ?

[sarahsbloke]

1 GBP = 48.84987 THB

Looks about 1 bht less than last week ........ is that considered crashing?

Edited May 7, 2010 by sarahsbloke

[chiang mai]

1 GBP = 48.84987 THB

Looks about 1 bht less than last week ........ is that considered crashing?

47.23, Bangkok Bank TT rate at 16.29, crashing it is. http://bankexchangerates.daytodaydata.net/default.aspx

[hawthorne]

Looks like a lot of people will be coming out of retirement in the next few years for the lucky few that can find work. The Baht seems to weather the storm quite well these days.

[GuestHouse]

1 GBP = 48.84987 THB

Looks about 1 bht less than last week ........ is that considered crashing?

And one hour after sarahsbloke's report its 1.00 GBP = 47.3615 THB (Bht 1.488 in less than an hour) Perhaps not a crash, but not going in the right direction is it?!

The relative cost of living has gone up for Brits living on money they are bringing into Thailand by 5% in the last few hours... Nice.

[buddy]

Wait to see the crash if Cash Gordon makes a deal and is still the British Prime Minister...he got the UK in this cr+p in the first place, God help the Brits!

[chiang mai]

Wait to see the crash if Cash Gordon makes a deal and is still the British Prime Minister...he got the UK in this cr+p in the first place, God help the Brits!

Nick Clegg already said he wouldn't do a deal with Gordon and about an hour ago said that he thought that the Cons should be the first to try and form a government, the Pound reversed almost imediatley and went from a low of 1.44 back up to almost 1.47. Does nobody like Gordon.

[lannaman]

Don't worry chaps, it will be back higher soon as I think Cameron and Clegg have put their heads together already. Hope so as I've just come into my pension recently.

[retdson]

1 GBP = 48.84987 THB

Looks about 1 bht less than last week ........ is that considered crashing?

And one hour after sarahsbloke's report its 1.00 GBP = 47.3615 THB (Bht 1.488 in less than an hour) Perhaps not a crash, but not going in the right direction is it?!

The relative cost of living has gone up for Brits living on money they are bringing into Thailand by 5% in the last few hours... Nice.

45.9 now at the Thanachart bank - 46.77 at Bangkok bank with all the other banks in between. It's interesting that there's such a spread.

[chiang mai]

1 GBP = 48.84987 THB

Looks about 1 bht less than last week ........ is that considered crashing?

And one hour after sarahsbloke's report its 1.00 GBP = 47.3615 THB (Bht 1.488 in less than an hour) Perhaps not a crash, but not going in the right direction is it?!

The relative cost of living has gone up for Brits living on money they are bringing into Thailand by 5% in the last few hours... Nice.

45.9 now at the Thanachart bank - 46.77 at Bangkok bank with all the other banks in between. It's interesting that there's such a spread.

They simply haven't updated their prices online that's all, the spreads are normally much closer, Super Rich is the one who's always on the ball and super current.

[buddy]

Wait to see the crash if Cash Gordon makes a deal and is still the British Prime Minister...he got the UK in this cr+p in the first place, God help the Brits!

Nick Clegg already said he wouldn't do a deal with Gordon and about an hour ago said that he thought that the Cons should be the first to try and form a government, the Pound reversed almost imediatley and went from a low of 1.44 back up to almost 1.47. Does nobody like Gordon.

Only the bribed being Labour strongholds of the ones on Welfare, immigrants and public sector/state workers who are sucking the milk of the State tit...

[chiang mai]

Wait to see the crash if Cash Gordon makes a deal and is still the British Prime Minister...he got the UK in this cr+p in the first place, God help the Brits!

Nick Clegg already said he wouldn't do a deal with Gordon and about an hour ago said that he thought that the Cons should be the first to try and form a government, the Pound reversed almost imediatley and went from a low of 1.44 back up to almost 1.47. Does nobody like Gordon.

Only the bribed being Labour strongholds of the ones on Welfare, immigrants and public sector/state workers who are sucking the milk of the State tit...

Couldn't agree more.

[Terry1971]

I can't say I'm very happy about this right now. I'm supposed to be arriving in Thailand on Wednesday and staying for four weeks, this is going to cut the value of my potential spending money quite a bit.

[tw25rw]

Once the new PM is installed it should creep up a bit. And when interest rates go up, the pound should go with it.

[smokie36]

Once the new PM is installed it should creep up a bit. And when interest rates go up, the pound should go with it.

Let's hope the Tories and Lib Dems come to a workable agreement or things will go from bad to worse especially if the deal is with Labour. What a disaster that would be....

[basjke]

Pfff,Lucky that I have Euro's.

[MB1]

Once the new PM is installed it should creep up a bit. And when interest rates go up, the pound should go with it.

Let's hope the Tories and Lib Dems come to a workable agreement or things will go from bad to worse especially if the deal is with Labour. What a disaster that would be....

I don't think that will happen, "Disaster", I think a deal is on the cards with the Cons and Lib...erty takers

As for a "Hung Parliament", quite a few of em want hanging IMO after the expenses scandal and throwing in a duck pond...

[smokie36]

Once the new PM is installed it should creep up a bit. And when interest rates go up, the pound should go with it.

Let's hope the Tories and Lib Dems come to a workable agreement or things will go from bad to worse especially if the deal is with Labour. What a disaster that would be....

I don't think that will happen, "Disaster", I think a deal is on the cards with the Cons and Lib...erty takers

As for a "Hung Parliament", quite a few of em want hanging IMO after the expenses scandal and throwing in a duck pond...

Yes it seems at best the UK electorate will be forced to reject PR system. Let's hope they make the right choice. I suppose this had to happen eventually and an economic crisis has unfortunately created the right circumstances for these chancers.

Edited May 7, 2010 by smokie36

[tropo]

I can't say I'm very happy about this right now. I'm supposed to be arriving in Thailand on Wednesday and staying for four weeks, this is going to cut the value of my potential spending money quite a bit.

You must be on a razor edge budget that a baht or two makes such a difference.

[HardenedSoul]

Hung Parliament wasn't a surprise but, elsewhere on this forum and for quite some time, many have warned Brits of the impending meltdown for sterling and offered decent advice on what to do with lump sums. Buying gold or other precious metals or converting into commodity currencies like the Canadian or Aussie dollars would've protected purchasing power very nicely indeed. Of course, those who receive their pensions in sterling have quite a different problem altogether and I feel for them big time.

I'm British and took the precaution of buying gold when it was priced at about £370 per ounce; now it's at over £800 per ounce. I only wish I'd bought more but the Canadian dollars I exchanged my sterling into have gained about 25% in just over a year. The point I'm making is that people can no longer afford NOT to be better informed about financial markets because the game is rigged against us in favour of the big players.

Although gold is dismissed by countless Western economists as a relic, it is still regarded as the ultimate store of value in many Asian countries and, since this is the destination for much of the West's wealth, I'm far more inclined to back the winning side.

[Spee]

Pfff,Lucky that I have Euro's.

Have you heard of this little place called Greece? The Euro's day of reckoning is none too far in the offing. Same same for the USD.

Brown didn't create the UK mess but he sure exacerbated it, just like that subversive lying buffoon across the pond.

When there are more people suckling at the government teat than there are providing the "nourishment" required to produce "milk," disaster of one form or another is usually not far behind (inflation, layoffs, revolt, riot, war).

[Terry1971]

I can't say I'm very happy about this right now. I'm supposed to be arriving in Thailand on Wednesday and staying for four weeks, this is going to cut the value of my potential spending money quite a bit.

You must be on a razor edge budget that a baht or two makes such a difference.

It's not a huge budget, and every baht lost is is still money I won't be spending where I otherwise might have.

[buddy]

Pfff,Lucky that I have Euro's.

Have you heard of this little place called Greece? The Euro's day of reckoning is none too far in the offing. Same same for the USD.

Brown didn't create the UK mess but he sure exacerbated it, just like that subversive lying buffoon across the pond.

When there are more people suckling at the government teat than there are providing the "nourishment" required to produce "milk," disaster of one form or another is usually not far behind (inflation, layoffs, revolt, riot, war).

Agree with your other points but beg to differ about Brown, Brown and the Labour Government did create the mess the UK is in.

Selling the UK's Gold reserves, all 400 tons of it at rock bottom prices, bailing the banks out, spend, spend spend till there is nothing left so its borrow, borrow, borrow so future generations not yet concieved will be born into debt slavery...he/Labour have bankrupted the UK.

If he/the Labour Government had kept the Countrys finances in order we would have been in a better position to weather a rainy day from which ever quarter is came from, simple!

[Crossy]

A loss of 3% since 1st May certainly is not good

Now, why has the Baht not gone pear-shaped considering the political turmoil here is 1000000 times worse than the UK?

[mahtin]

The larger the sum you exchange the more annoying the loss

[bdenner]

I think yesterdays dive was more to do with the stock exchange crash in NY and the problems in Greece than the election. And Crossy all the wishful thinking in the world will not sent the baht crashing, the Thai economy is to strong to be heavily influenced by happenings in central Bangkok.

[toptuan]

Soon as it hits 1 pound = $1 US, I'm taking that long-awaited trip to Wales.

[Utterlyuseful]

Let's hope it doesn't land like Eddie the Eagle....

[BigWheelMan]

A loss of 3% since 1st May certainly is not good

Now, why has the Baht not gone pear-shaped considering the political turmoil here is 1000000 times worse than the UK?

That is the 1 million baht = £1 question?

Are there any experts out there who can enlighten us?