Will The Strong Baht Effect Your Pattaya Lifestyle?

[gguy]

The baht looks like it will break below 30 to 1 USD.

The baht was around 35 (I think) about one year ago.

If current trends continue, next Christmas will bring 25 baht to 1 USD.

Most of the Euro Currencies seem on the same downward trend.

This certainly effects my lifestyle.

How low can it go before it has a major lifestyle effect?

[moe666]

I don't go to Pattaya so no affect

[gerry53]

I can understand the US dollar, Euro and UK Pound taking a bit of a beating due to debt mismanagement. But other currencies like the Canadian, NZ and Oz dollars are losing against the baht also. Maybe the problem is the strenght of the Asian currencies? It won't effect my situation but I think it will effect the tourist numbers and amount being spent in Thailand somewhat proportionately (Baht goes up 20% - tourism down 20%).

Edited August 28, 2010 by gerry53

[elliss]

I don't go to Pattaya so no affect

[/quote

it affects me , along with the other poor farangs ,

living in udon.

we used to drink singa and chang ,

now we share leo ,,,, from a can .

[chops]

never realized things had gotten so bad before i looked at the exchange chart. wow, it's really getting bad.

ultimately, all expats will need to tighten our belts as a result of this. i hate to be a cheap charlie, but i have to be these days with these crap exchange rates.

certainly this means the bars will be more and more vacant in the coming months/years(as tourists & expats won't have the funds they used to have). pattaya is really going to get walloped. the place will resemble a bit like a ghost town in time, with lots more bar closings.

i'm moving up to chiang mai where the cost of living is slightly cheaper, in order to weather this financial storm. hopefully i will be one of the expats who survive..

[chops]

I don't go to Pattaya so no affect

[/quote

it affects me , along with the other poor farangs ,

living in udon.

we used to drink singa and chang ,

now we share leo ,,,, from a can .

certainly as long as these exchange rates are crap, you won't see me drinking at all.

okay, maybe i could 'splash out' and buy some cheap sang som..

[seanocasey]

I don't go to Pattaya so no affect

I can understand the US dollar, Euro and UK Pound taking a bit of a beating due to debt mismanagement. But other currencies like the Canadian, NZ and Oz dollars are losing against the baht also. Maybe the problem is the strenght of the Asian currencies? It won't effect my situation but I think it will effect the tourist numbers and amount being spent in Thailand somewhat proportionately (Baht goes up 20% - tourism down 20%).

The writing has been on the wall for the past 18 months few will admit to it but ex-pats living in Thailand on limited funds are living with a delusion that things will get better, we all know this will not happen. With austerity in most countries now. pensions will be hit, in my home country next public service pensions are due for a haircut of up to 8% with social welfare payments already cut by 4.8% due for further cuts this December.

Living here on and off for 5 years iv seen my Euro buying power decrease by at least 60% if you take into account price increases for food rice increasing by nearly 50%, gas, eggs, pork, the list goes on. Unless you have a business in baht which I am lucky my wife has you are on an up hill battle to survive.

[Naam]

I don't go to Pattaya so no affect

same applies to me. i live 3 kilometers (as the crow flies) from downtown Pattaya, an area which i hardly visit.

[FarangBuddha]

While it's no fun...I have phat brokerage and bank accounts so no effect on my overall spending or lifestyle. In fact, I'm seriously thinking about buying a new SUV...so things are still sabai-sabai in my little world.

Don't fret...no tree grows to the sky and the baht will stabilize and likely weaken [Western currencies strengthen] somewhat in the future.

[Oink]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97. When they borrowed the money it was B48/$ now they are repaying it faster at B30/$ No brainer really.

So in about a year’s time when it is paid off and Thailand is dept free with a trade surplus no doubt the $/B will fall even further down the pan as the US economy shall be the absolute opposite. Broke with a trade deficit. One of these days these countries are going to dump the $ and flip to the currency of the world’s largest trading country, China

Yep! It’s not the US any more, they are in second place and falling!! Not a lot of people know that. It's not on CNN!

[jori]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97. When they borrowed the money it was B48/$ now they are repaying it faster at B30/$ No brainer really.

So in about a year's time when it is paid off and Thailand is dept free with a trade surplus no doubt the $/B will fall even further down the pan as the US economy shall be the absolute opposite. Broke with a trade deficit. One of these days these countries are going to dump the $ and flip to the currency of the world's largest trading country, China

Yep! It's not the US any more, they are in second place and falling!! Not a lot of people know that. It's not on CNN!

Looking a bit further than a year or two the far eastern economies need the US and Europe to buy their products. They can only "churn" money for so long,the local populace needs jobs,money etc,none forthcoming it will be a bleak outlook for them,no welfare here,only riots

[tom21]

might have to cut down on the soft drinks i have in some bars and drink beer it is cheaper

[therealmrbrightside]

_{What is the exchange rate IN Thailand to the GBP?}

_{I can get 43THB for a quid here in the UK and don't know whether to exchange a heap before i travel or would i get a better rate in Thailand?}

[therealmrbrightside]

_{What is the exchange rate IN Thailand to the GBP?}

_{I can get 43THB for a quid here in the UK and don't know whether to exchange a heap before i travel or would i get a better rate in Thailand?}

[gotlost]

http://bankexchangerates.daytodaydata.net/default.aspx

USD 31.25

GBP 48.50

EUR 39.80

Super Rich Bangkok

[syd barrett]

_{What is the exchange rate IN Thailand to the GBP?}

_{I can get 43THB for a quid here in the UK and don't know whether to exchange a heap before i travel or would i get a better rate in Thailand?}

DO NOT exchange money in the U.K. you will get 47 Baht for 1 Pound in Thailand, even when you arrive at the airport.

[nikkoid66]

There is a huge transfer of wealth from the West to the East.

And it is just the beginning. The bankers are ripping people in the West off all their property and their money and they transfer the benefit in the Eastern countries.

Asian and specially Thailand have good Gold reserve, so they have a good buffer to control the value of their currency.

West have borrowed too much and cannot make any more paper money... They have to lower the number of bills in circulation in order to lower the credit again, that means more inflation..and weaker currencies.

Our economies are in contraction, it is something controlled by the central banks, they are on a trend of 10 years where they lower the credit, produce a lot of money and the economy expand, then they stall like a plane and need to raise the credit and limit the money in circulation so that the economy contract itself until they can start the cycle again.... every 10 years or so.

The situation is going to be worse. It has started 3-4 years ago and I don't see it change for the next 7-10 years.

[William Osborne]

Not sure what you mean by a Pattaya lifestyle ? but residing here, my main outgoings are .. school fees (for one),supermarket & utility bills plus the expenses associated with owning bike/truck, what with insurance, service, diesel etc but yes i seem to be going to the ATM a lot more than before... don't actually count what i spend but if i got away with 50k a month it would be pretty cheap...this being me and my mrs spending maybe 1500 on a big night out on Saturday... don't know where it goes but something comes up every day

[Jingthing]

If I spent any less, I wouldn't even be a Cheapskate Charlie, because even Charlie can afford skates!

[jori]

_{What is the exchange rate IN Thailand to the GBP?}

_{I can get 43THB for a quid here in the UK and don't know whether to exchange a heap before i travel or would i get a better rate in Thailand?}

No need to cut down on print size,I can hardly read it

[gguy]

Looking at my spending patterns, it has effected me more than I thought. Have not take a vacation or trip from Pattaya in last 18 months. Eating the specials at restaurants. More "happy hour" bar outings.

It is amazing I am still spending the same amount of USD but my lifestyle is downsized.

[surayu]

Edited August 29, 2010 by surayu

[gerry53]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97. When they borrowed the money it was B48/$ now they are repaying it faster at B30/$ No brainer really.

So in about a year's time when it is paid off and Thailand is dept free with a trade surplus no doubt the $/B will fall even further down the pan as the US economy shall be the absolute opposite. Broke with a trade deficit. One of these days these countries are going to dump the $ and flip to the currency of the world's largest trading country, China

Yep! It's not the US any more, they are in second place and falling!! Not a lot of people know that. It's not on CNN!

If it was that easy the USA would devalue their dollar to 10 cents and they would only owe 10% of their 13 trillion current debt. China used to peg (fix) it's currency against the US dollar alone and now uses a basket of currencies instead for obvious reasons. The Thai government can only do so much to keep the baht high, the rest is determined by market conditions and investor confidence. And lets face it Asian economies are where the action is these days - the US dollar, UK pound and the Euro have "issues".

[LennyW]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97. When they borrowed the money it was B48/$ now they are repaying it faster at B30/$ No brainer really.

So in about a year's time when it is paid off and Thailand is dept free with a trade surplus no doubt the $/B will fall even further down the pan as the US economy shall be the absolute opposite. Broke with a trade deficit. One of these days these countries are going to dump the $ and flip to the currency of the world's largest trading country, China

Yep! It's not the US any more, they are in second place and falling!! Not a lot of people know that. It's not on CNN!

You're a bit out of touch Oink, Thailand has no IMF Debt, they are however number 17 on the list of countries that America owe money to!!

[basjke]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97. When they borrowed the money it was B48/$ now they are repaying it faster at B30/$ No brainer really.

So in about a years time when it is paid off and Thailand is dept free with a trade surplus no doubt the $/B will fall even further down the pan as the US economy shall be the absolute opposite. Broke with a trade deficit. One of these days these countries are going to dump the $ and flip to the currency of the worlds largest trading country, China

Yep! Its not the US any more, they are in second place and falling!! Not a lot of people know that. It's not on CNN!

Please think again,or at least inform yourself, before you post any nonsense like this again.

Thailand paid back their IMF debt 7 years ago,2 years ahead of schedule.

Edited August 30, 2010 by basjke

[Ulysses G.]

Simple! The Thai government keep the Baht artificially high so as to pay off more cheaply the billions $ borrowed from the IMF back in 97.

Please think again,or at least inform yourself, before you post any nonsense like this again.

Thailand paid back their IMF debt 7 years ago,2 years ahead of schedule.

Thanks for pointing out the absurdity of much of the Thai Visa "logic". It is aways best to keep in mind that many posts that may seem almost sensible are actually based on hallucinations from the DTs.

[Thailaw]

Most farang who nhave been in Thailand for several years nor more are lamenting the fall in the Dollar, Pound, Euro against the Baht (and a bit shocked that the fall continued during the Rd Shirt mess, but perhaps not as rapidly as it would have otherwise). But the past (and present) is past (or here), and the real question is where is the Baht going and what to do now and in the future. Is it time to send large sums of foreign currency into Thailand (assuming you have large sums) or is it better to wait for 2, 6, 12, 18 months until the Dollar regains some of its relative value? The long term doesn't look good for the Dollar, Pound or Euro, but things seldom go down (or up) in a straight line, and there may be some opportunities in the future. Unfortunately, I have been waiting for such opportunities for the past 2 years and, except for a brief period when the Dollar rose to 36 Baht, I haven't seen any. If below 30 is where things are headed, better to swallow some pain now and avoid the further decline.

[LennyW]

Most farang who nhave been in Thailand for several years nor more are lamenting the fall in the Dollar, Pound, Euro against the Baht (and a bit shocked that the fall continued during the Rd Shirt mess, but perhaps not as rapidly as it would have otherwise). But the past (and present) is past (or here), and the real question is where is the Baht going and what to do now and in the future. Is it time to send large sums of foreign currency into Thailand (assuming you have large sums) or is it better to wait for 2, 6, 12, 18 months until the Dollar regains some of its relative value? The long term doesn't look good for the Dollar, Pound or Euro, but things seldom go down (or up) in a straight line, and there may be some opportunities in the future. Unfortunately, I have been waiting for such opportunities for the past 2 years and, except for a brief period when the Dollar rose to 36 Baht, I haven't seen any. If below 30 is where things are headed, better to swallow some pain now and avoid the further decline.

The Baht needs to do - NOTHING, it is up to the respective countries that have a weak currency to do something about it and for America and UK that is not going to happen in the near future, America will continue to plough its'self deeper into debt to the extent that one day soon it will be renamed China West!!, and the UK has no options (No viable export market) other than continually raise taxes which will have the effect of more people wanting to leave and invest in countries such as Thailand making the Baht even stronger..... sorry - but thats it!!

[nikkoid66]

Is it time to send large sums of foreign currency into Thailand (assuming you have large sums) or is it better to wait for 2, 6, 12, 18 months until the Dollar regains some of its relative value?

Yes it is time. The USD will not gain any momentum anytime soon...The US economy is a lot worse than what the gov tell to the people... The USD will have a huge decline, everyone knows that, but no one knows when it will happen exactly. Chances are that the USD will go down to 1 bath = 5 USD when it will happen. Take note of this post, put it on a sticker and come back here when it will happen.

"some of its relative value? " : what do you mean by this? the USD is artificially maintained high, its relative value is something like 0,01 of what is now...

Edited August 30, 2010 by nikkoid66

[gerry53]

Is it time to send large sums of foreign currency into Thailand (assuming you have large sums) or is it better to wait for 2, 6, 12, 18 months until the Dollar regains some of its relative value?

Yes it is time. The USD will not gain any momentum anytime soon...The US economy is a lot worse than what the gov tell to the people... The USD will have a huge decline, everyone knows that, but no one knows when it will happen exactly. Chances are that the USD will go down to 1 bath = 5 USD when it will happen. Take note of this post, put it on a sticker and come back here when it will happen.

"some of its relative value? " : what do you mean by this? the USD is artificially maintained high, its relative value is something like 0,01 of what is now...

Nikkoid66 I would like to know when you come up with your predictions, USD worth 1 cent on the dollar? 1 Baht = 5 USD? Do you actually think about these figures before you throw them out there?

I see you edited your statement on Thai gold reserves (you said they had large amounts) which was good because that statement also was total bullocks. The Dec 2009 IMF reports has Thailand listed as owning 84 tonnes (placed #33 & held 2% of forex reserves), the UK has 5 million less population and holds 310 tonnes (placed #17 & held15% of forex reserves).

I am not American and agree the US will go thru some harder times before it rights itself and gets back on positive financial footings. It is in China and the worlds best interest for that not to happen, you didn't see them abandon Greece, Argentina, Pakistan or Russia (after the collapse of USSR).