Do you drink drive?

[honkytonklagoon]

Where do you guys think the Pound is heading? It's heartbreaking to see it under 50. I have bank slips here from 2006 showing an exchange rate of 79. Sob.

[toffo9]

Takes ages to get itself upto 50 and takes weeks to go to 48.. Its dying.. Icame 2 years ago when it was 48 so ive never seen 51 and up nevermind 50

[jaffajeffries]

The pound is heading just the same way the UK is and that's not good for anyone but it's the price we pay for complacency over the years.

[norrona]

2006 was a good year

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

or are we all doomed for eternity

[vpi78]

2006 was a good year

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

or are we all doomed for eternity

Doomed forever because the UK being in a better financial position than the USA is about as likely as West Ham being promoted back to the EPL within two years.

[StreetCowboy]

2006 was a good year

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

or are we all doomed for eternity

For those of us with receding hairlines, we are domed for eternity

SC

[sotsira]

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

If the baht tracks the $, then why is the baht so strong and the dollar so weak?

I don't think the baht and the dollar are linked in any way.

[meatboy]

back in the eighties it was 38to the £,since then i have seen,60, 90+,67,57,now 48,what makes me sceptical is when the £ against the euro and $ goes up but against the baht it goes down,could it be evil spirits at work

[1bbcd5]

you are lucky

[honkytonklagoon]

back in the eighties it was 38to the £,since then i have seen,60, 90+,67,57,now 48,what makes me sceptical is when the £ against the euro and $ goes up but against the baht it goes down,could it be evil spirits at work

Sure is evil, how much less you get for your money. My problem was first arriving in Thailand in 2005 and getting used to those prices. Nowt I can do about it so i'll stop moaning now.

[meatboy]

one thing i did learn never change money on weekends,whatch the bank rates on fri.afternoons, DOWN DOWN DOWN :angry:

[bonobo]

A number of personal insult-type posts have been deleted. Let's keep in civil, OK?

[Familyonthemove]

Interesting subject .... especially for us Brits living in Thailand!

My company has offices in US, UK, Europe, Africa and Latin America as well as Asia and as a technical support company our success is directly linked to our customers business performance. So from this snap-shot I can see that UK is flat, but that's better than the rest of Europe, which with the exception of Germany is heading down. US confidence is low, so they are doing no better than the UK. Latin America is up and Asia is even better .... although China seems to be slowing.

So I reckon the £ and $ will stay the same, the Euro will continue to fall and that Thailand will ride the general Asia rise so the Baht will steadily increase in value against both the £ and the $ and significantly against the Euro.

Anyone know of anything clever us Brits should be doing to off-set the fall? Move savings into THB? Drink English beer? Pay Mia Noi in Guinees?

[Scooby2]

Hey all

If we are all doomed due to the Brit economy think about it this way........we are doomed in this beautiful Thailand and not doomed in cold crappy Blighty!!!

Scoob

[norrona]

is about as likely as West Ham being promoted back to the EPL within two years.

you know what, I agree

[norrona]

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

If the baht tracks the $, then why is the baht so strong and the dollar so weak?

I don't think the baht and the dollar are linked in any way.

The United States is Thailand's largest export market and second-largest supplier after Japan. While Thailand's traditional major markets have been North America, Japan, and Europe, economic recovery among Thailand's regional trading partners has helped Thai export growth.

This is why my friend....

It has been discussed on TV many times :jap:

[Beechboy]

The respective banks, the Bank of England and the Bank of Thailand have a big influence upon exchange rates, although the last time I made this point on here, I was put in my place.

Of course market forces dominate, but interest rates and the "printing" of money are highly influential.

A small rise in the interest rates in UK (0.5%) would move the pound up slightly against the baht. Not least because it will show intent. Speculators, who by definition look to the future, will begin to buy Sterling as they see greater returns on the way.

The Bank of Thailand recently increased interest rates, to combat inflationary pressures, with a result that the Thai currency became even more attractive.

The Bank of England Monetary Committee, which sits monthly, decides the interest rates in the UK. The balance is currently six to two members in favour of keeping the remaining low rate, which augers badly for the value of the pound in the short term.

However, the policy of quantative easing ( flushing the system with electronic money and equivalent to printing money) seems to have run it's course, the last input being at the beginning of this month, so this will eventually have a positive effect on Sterling's value..

I am more positive about the UK economy than most. It is very fragile at the moment and is currently particularly precarious due to the Greek crisis. However, being outside the Eurozone, we are less vulnerable than most of Europe. Neither are our banks as exposed to the Greek debt as, say the French or German banks are, . However, if Europe, as a whole, was pushed down by this crisis ie. Greece renegading on it's debt and ditching the Euro, the consequent domino effect would spread to others such as Spain and Italy, then it would seriously threaten our export base. There is a real danger at the moment of the Euro ceasing to exist.

My slight optimism regarding the future of the UK economy is, in brief, due to our isolation from the European crisis, whereby we will not have to pay as much to prop up the ailing Eurozone economies, the current government's austerity measures, which show the markets we mean business, and the signs of real growth that have been evident over the last eight/nine quarters. Unemployment remains under a degree of control as does inflation. The latter is higher, @ 5% ish, than desired but is not at crisis level and is predicted to fall. The debt remains onerous, but only Germany within Europe has a lower deficit, whilst the U.S.A is in a dire straights by comparison.

(However, fully understanding this National Debt business confounds economists, so I stand no chance.)

By contrast, the booming Thai economy is slowing. Basic exports, eg. of rice are threatened by cheaper competition, the incoming governement's economic" promises" will be expensive to implement, leading to more borrowing, and there is always the threat of political upheaval. However, with inward investment currently high and exports of less traditional products growing, Thailand is basically healthy, with inflation seemingly the biggest problem at the moment. Thailand becomes increasingly vulnerable to the "China factor." with regards to exports and incoming investment, whilst the Chinese now look more and more to Africa for the future

Because of the above factors, and many others no doubt, I think the pound will eventually recover against the baht. This recovery will be slow and very slight and Sterling will never reach anywhere near the heady heights of a few years ago. The cycllical effect, if you like, willensure it reaches the lowish fifties, IMHO.

I am probably alone in this assessment and will, no doubt, now be shot down in flames by more knowing beings than me. Any such assessments, as this, which present massive issues on the back of a postage stamp, are open to criticism.

Edited July 21, 2011 by Beechboy

[meatboy]

the £value of our house in los[mrs] has gone up 30%,our standad of living has gone down20%,mrs meats prop in uk down 20%,food prices in los up 30% do we want to go back to the uk not on your nelly.

[Thongkorn]

The pound is heading just the same way the UK is and that's not good for anyone but it's the price we pay for complacency over the years.

We have at present in the UK , have a none Elected Government who are passing legislation and Laws that nobody voted for. or wants. We are paying for Decisions the pol lotions made without the permission of the people, ie a referendum on the EU , now we are being dragged down by laws passed in Brussels that my Grandfather fought against in the second world war. The place is full of foreigners claiming money that Brussels tells us we must pay although they cannot claim it in there own country,Then they send it home , I have UK standards of living and prices to pay , but my living standard is being down graded because these foreign workers will work for less , which the big Employers know , thats why they exploit the workers in the name of profit, Every year they want to double the profits for the share holders. Thats why the world is in a mess, I may add that i have no mortgage and do not and have never borrowed money,or ow a penny. I have Small amount in the bank along with pension plan, but i/we are the ones who are not getting any benefits, maybe we should just join the Que fro free money in the UK , Today will decide the future of the EU , but again they will prop up a failing idea by throwing good money after bad, And I am sorry but America is next.The Asian markets will go from strength to strength.

[Familyonthemove]

The respective banks, the Bank of England and the Bank of Thailand have a big influence upon exchange rates, although the last time I made this point on here, I was put in my place.

Of course market forces dominate, but interest rates and the "printing" of money are highly influential.

A small rise in the interest rates in UK (0.5%) would move the pound up slightly against the baht. Not least because it will show intent. Speculators, who by definition look to the future, will begin to buy Sterling as they see greater returns on the way.

The Bank of Thailand recently increased interest rates, to combat inflationary pressures, with a result that the Thai currency became even more attractive.

The Bank of England Monetary Committee, which sits monthly, decides the interest rates in the UK. The balance is currently six to two members in favour of keeping the remaining low rate, which augers badly for the value of the pound in the short term.

However, the policy of quantative easing ( flushing the system with electronic money and equivalent to printing money) seems to have run it's course, the last input being at the beginning of this month, so this will eventually have a positive effect on Sterling's value..

I am more positive about the UK economy than most. It is very fragile at the moment and is currently particularly precarious due to the Greek crisis. However, being outside the Eurozone, we are less vulnerable than most of Europe. Neither are our banks as exposed to the Greek debt as, say the French or German banks are, . However, if Europe, as a whole, was pushed down by this crisis ie. Greece renegading on it's debt and ditching the Euro, the consequent domino effect would spread to others such as Spain and Italy, then it would seriously threaten our export base. There is a real danger at the moment of the Euro ceasing to exist.

My slight optimism regarding the future of the UK economy is, in brief, due to our isolation from the European crisis, whereby we will not have to pay as much to prop up the ailing Eurozone economies, the current government's austerity measures, which show the markets we mean business, and the signs of real growth that have been evident over the last eight/nine quarters. Unemployment remains under a degree of control as does inflation. The latter is higher, @ 5% ish, than desired but is not at crisis level and is predicted to fall. The debt remains onerous, but only Germany within Europe has a lower deficit, whilst the U.S.A is in a dire straights by comparison.

(However, fully understanding this National Debt business confounds economists, so I stand no chance.)

By contrast, the booming Thai economy is slowing. Basic exports, eg. of rice are threatened by cheaper competition, the incoming governement's economic" promises" will be expensive to implement, leading to more borrowing, and there is always the threat of political upheaval. However, with inward investment currently high and exports of less traditional products growing, Thailand is basically healthy, with inflation seemingly the biggest problem at the moment. Thailand becomes increasingly vulnerable to the "China factor." with regards to exports and incoming investment, whilst the Chinese now look more and more to Africa for the future

Because of the above factors, and many others no doubt, I think the pound will eventually recover against the baht. This recovery will be slow and very slight and Sterling will never reach anywhere near the heady heights of a few years ago. The cycllical effect, if you like, willensure it reaches the lowish fifties, IMHO.

I am probably alone in this assessment and will, no doubt, now be shot down in flames by more knowing beings than me. Any such assessments, as this, which present massive issues on the back of a postage stamp, are open to criticism.

Thanks for adding such an informative and well reasoned post. Very interesting and you've given me hope for the GB Pound.

Are you sure you didn't post it in TV accidentally? Our posts are supposed to start with an outrageous generalisation about a social group, add in an insult or two about our host country, then lean as close to blatannt racsim as it's possible to get without being banned, finally adding a smiley face so you can claim it was a joke

[easyride]

2006 was a good year

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

or are we all doomed for eternity

For those of us with receding hairlines, we are domed for eternity

SC

Doomed I tell ye, we're all doomed Captain Mainwaring

[Livinginexile]

It's good for me. I earn expat salary and send money home!

I seriously hope the pound drops below 30!

Am I the only one here that hopes the pound tanks?

[StreetCowboy]

The pound is heading just the same way the UK is and that's not good for anyone but it's the price we pay for complacency over the years.

We have at present in the UK , have a none Elected Government who are passing legislation and Laws that nobody voted for. or wants. We are paying for Decisions the pol lotions made without the permission of the people, ie a referendum on the EU , now we are being dragged down by laws passed in Brussels that my Grandfather fought against in the second world war. The place is full of foreigners claiming money that Brussels tells us we must pay although they cannot claim it in there own country,Then they send it home , I have UK standards of living and prices to pay , but my living standard is being down graded because these foreign workers will work for less , which the big Employers know , thats why they exploit the workers in the name of profit, Every year they want to double the profits for the share holders. Thats why the world is in a mess, I may add that i have no mortgage and do not and have never borrowed money,or ow a penny. I have Small amount in the bank along with pension plan, but i/we are the ones who are not getting any benefits, maybe we should just join the Que fro free money in the UK , Today will decide the future of the EU , but again they will prop up a failing idea by throwing good money after bad, And I am sorry but America is next.The Asian markets will go from strength to strength.

You'll be glad that big business is paying good dividends to the pension companies then.

Private pensions are funded by the returns on the retirees' earlier investments - capitalism at work for the masses.

Public pensions are funded by a levy on current workers. Surprisingly, previous generations promised themselves certain pension benefits regardless of their children's ability to pay; something that prudent capitalists generally refused to do. Which is why those with private pensions rather than old-fashioned company pensions do not enjoy guaranteed pensions.

Its always satisfying to give foreigners a kicking, but we should save that football matches, and be grateful that foreigners are able to work for us for lower wages than our compatriots will accept. In that way, our industry can compete with our overseas competitors

SC

[Thongkorn]

T[its always satisfying to give foreigners a kicking, but we should save that football matches, and be grateful that foreigners are able to work for us for lower wages than our compatriots will accept. In that way, our industry can compete with our overseas competitors

SC

How do you compete when The UK gives work away , an lets its people go on the dole for hand outs. IE, Boats being built for British Navy , costing the tax payer billions built in France , Giving Train Contracts to Germany to build Trains for the UK, Ext ext , And on top of that , giving Ade to India China, two of the biggest Economy's in the world, at least Thailand looks after its own interest regardless.

[StreetCowboy]

...

How do you compete when The UK gives work away , an lets its people go on the dole for hand outs. IE, Boats being built for British Navy , costing the tax payer billions built in France , Giving Train Contracts to Germany to build Trains for the UK, Ext ext , And on top of that , giving Ade to India China, two of the biggest Economy's in the world, at least Thailand looks after its own interest regardless.

If our industries cannot quote competitive prices, then they should release the staff to work in more competitive companies. Nepotism and cronyism (jobs for the boys, keep it in the country) just breeds incompetence and corruption. We all have our own choices to make, as consumers, and while I am willing to buy local produce when I can, many people would prefer a better car at a lower.price. I suppose we could have asked the tax payer to continue to pay hundreds of pounds a head to keep the coal mines and car plants open, but instead we chose to cut the cost to the tax payer and give do-nowts and toruble-makers dole money instead, and let those that wanted to work find jobs in successful industries.

When procurement decisions are made based on employment policy, we get poor prices and poor performance.

SC

[thaibeachlovers]

being that the baht tracks the $ the question is....

is the U.K in a better position to pull themselves out of the cack than the U.S.A?

If the baht tracks the $, then why is the baht so strong and the dollar so weak?

I don't think the baht and the dollar are linked in any way.

I'm not an economist, but I'd say it's a lot to do with banks in the UK and I believe the US paying effectively zero interest on deposits. Who would invest in a country where they make zero return.

Also could have to do with the fact that the US is 14 trillion in debt that it can't repay.

Other factors may be:

the US and the UK have exported all their jobs to China and other low cost countries, leaving them with huge social security payments and little tax income.

They pay huge amounts of benefits to undeserving wastrels.

They have stifled innovation with vast bureaucracies.

The governments are incompetent and venal.

[vpi78]

one thing i did learn never change money on weekends,whatch the bank rates on fri.afternoons, DOWN DOWN DOWN :angry:

That is just silly BS.

[Eff1n2ret]

one thing i did learn never change money on weekends,whatch the bank rates on fri.afternoons, DOWN DOWN DOWN :angry:

That is just silly BS.

It depends where you're changing the money - I wouldn't have a clue about exchange booths or withdrawing from a UK bank via a Thai ATM at the weekend or any other time, as I charge up a Thai account with occasional transfers from my UK bank. I do this via UKForex, and I've noticed that the rate is usually more favourable during UK banking hours. So I wouldn't dismiss the comment about changing money at weekends so lightly.

The first time I came to Thailand in 1996 the pound would buy 40 Baht. The Japanese economy tanked a year or two afterwards and took the other Asian currencies with it, hence those happy memories of rates around 70 or more. Now it's the Western economies that have been hit with a fundamental downshift because the banking/property bubble burst. I will be relieved if the pound manages to hang on to around 50baht, because I can't see many reasons why it shouldn't go all the way back to the 1996 rate.

[vpi78]

one thing i did learn never change money on weekends,whatch the bank rates on fri.afternoons, DOWN DOWN DOWN :angry:

That is just silly BS.

It depends where you're changing the money - I wouldn't have a clue about exchange booths or withdrawing from a UK bank via a Thai ATM at the weekend or any other time, as I charge up a Thai account with occasional transfers from my UK bank. I do this via UKForex, and I've noticed that the rate is usually more favourable during UK banking hours. So I wouldn't dismiss the comment about changing money at weekends so lightly.

The first time I came to Thailand in 1996 the pound would buy 40 Baht. The Japanese economy tanked a year or two afterwards and took the other Asian currencies with it, hence those happy memories of rates around 70 or more. Now it's the Western economies that have been hit with a fundamental downshift because the banking/property bubble burst. I will be relieved if the pound manages to hang on to around 50baht, because I can't see many reasons why it shouldn't go all the way back to the 1996 rate.

I dismiss it with great predujice. It is rubbish.

One week it will up on Fridays and another down.

If it was any other way, everyone would be making a mint on the currency fluctuations. Yeah I have heard the liars brag that they are in Thailand making a living off internet trading and currency hedging. BS.

[lovetotravel]

Somebody made a mint off currency fluctuations:

In politics and economics, Black Wednesday refers to the events of 16 September 1992 when the British Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after they were unable to keep sterling above its agreed lower limit. George Soros, the most high profile of the currency market investors, made over US$1 billion profit by short selling sterling.