£ Going Down

[JimmyGreaves]

Noticed over the last month that the pound is steadily falling against the Baht.

Anyone got any idea why this is happening, the FTSE in UK is strong.

http://www.77finance.co.uk/currency_converter/Thai_Baht.html

Edited November 23, 2005 by jflundy

[redrus]

Noticed over the last month that the pound is steadily falling against the Baht.

Anyone got any idea why this is happening, the FTSE in UK is strong.

Yeah, sorry can't give an answer on this but, I've sat in England watching fall and fall. Normally would be much higher coming to this time of year me thinks. From coming home in April its fallen from a high of around 75b to the £, to todays reading of 62b to the £..!

Maybe someone in Los needs a favour and is up top pulling some strings, (un-educated guess)

redrus

[solo siam]

Because the value of money/currency has nothing to do with the value of the shares of companies in that country?

[The Philosopher]

Don't go by rates in the UK look at the bangkok bank or siam commercial web site the rate in LOS has been between 69 -73 for around 5 months

[redrus]

Unfortunately, I live here so I always look here but, of-coarse, I'd never buy here.

redrus

[ThaiPauly]

I always work on the assumption that 14 quid is worth 1,000 Baht,

its never far off.

I have seen the rates go down to the current level before during the last 12 months. I am sure it will bounce back, it always seems to. When I first started coming here 3 years ago it was 66B to the pound and many thought that was good!

Even at 70B you can still live a far more comfortable lifestyle than in the UK, but you all know that anyway!!

[briley]

It is my impression that it is the US$ rising against all currencies, not the pound falling. As the Baht and US$ keep to an almost fixed exchange rate that means the GBP Baht rate falls.

Still I got about 72 last week. Not so bad.

[bdenner]

Still I got about 72 last week. Not so bad.

<{POST_SNAPBACK}>

I have some UK friends who are carrying Sterling and would like to know where you got that rate? They have been scratching to get 70 for 2 months now.

[Tywais]

It is my impression that it is the US$ rising against all currencies, not the pound falling. As the Baht and US$ keep to an almost fixed exchange rate that means the GBP Baht rate falls.

Still I got about 72 last week. Not so bad.

That is no longer true. For many years the baht was locked to the US$ but when they floated the baht they now use a basket of currencies so that no one currency will have a large impact on the value of the baht. This means that if the US$ rises it will not effect the pound vs baht significantly. The percentage effect depends on the ratio of currencies in the basket.

[naka]

The pound is falling against the US Dollar due to the increases in the

interest rates in the US in recent months/year making Dollar denominated investments more attractive.

Since the Baht is not a major traded currency, these rate changes have little effect on it.

It would seem that the recent US rate increases have now ceased and the market has

already factored them all in so things may stabilize now.

Naka.

[srisatch]

Noticed over the last month that the pound is steadily falling against the Baht.

Anyone got any idea why this is happening, the FTSE in UK is strong.

<{POST_SNAPBACK}>

Yeah, sorry can't give an answer on this but, I've sat in England watching fall and fall. Normally would be much higher coming to this time of year me thinks. From coming home in April its fallen from a high of around 75b to the £, to todays reading of 62b to the £..!

Maybe someone in Los needs a favour and is up top pulling some strings, (un-educated guess)

redrus

<{POST_SNAPBACK}>

Don't go by rates in the UK look at the bangkok bank or siam commercial web site the rate in LOS has been between 69 -73 for around 5 months

<{POST_SNAPBACK}>

Unfortunately, I live here so I always look here but, of-coarse, I'd never buy here.

redrus

<{POST_SNAPBACK}>

The Baht/GBP exchange rates in the UK are nonsense..as you say no-one I know ever buys there........any bank or Travelex or whatever quotes a rate that is invariably some 6 to 10 Baht worse than a Thai Bank. If you need to convert smallish amounts of Sterling, other than cash, regularly a Nationwide ATM card is still the best solution...exchange rate not far off FT median rate...but any medium to long term downward trend in the rate is bound to be bad news for anyone who needs to fund life from UK sources.

Everyone I ask seems to say that forecasting exchange rates is a mug's game..it simply cannot be done with any certainty..Is this really true?

Anyway gold has touched $500...where is that going? The wife is buying in anticipation of Chinese New Year...I say she might have to then sell pretty quick...and buy back later. She is confident that as China gets richer and the world more uncertain gold will just continue up! Anyway it's not a bad game!

[GuestHouse]

Not a good time to be financing a loan in Thailand with funds from the UK

[JimmyGreaves]

Redrus, here is an easy on the eye Baht to the pound listing of exchange rates you can expect in Thailand:

http://www.x-rates.com/d/THB/GBP/data120.html

[Steve2UK]

As has been said, the baht's no longer pegged to the US$ - but there's plainly a close relationship if only because of the impact of the dollar in the basket.

Useful (if brief) article about likely £/$ factors - together with 3/6/12 month £/$ forecasts here:

http://www.investica.co.uk/sterlingdollar.htm

30 day to 12 month £/baht history charts here:

http://www.exchangerate.com/charts.html?ac...ncy=238&cid=225

That chart shows that we've been here (£=71baht) before - in February this year; the rate then spiked to £=75baht three times after that before dropping again now. So - have patience and it'll probably turn up again. Personally, I budget cautiously on £=65baht and view anything better as a welcome bonus.

Edited November 25, 2005 by Steve2UK

[Rinrada]

Redrus, here is an easy on the eye Baht to the pound listing of exchange rates you can expect in Thailand:

http://www.x-rates.com/d/THB/GBP/data120.html

<{POST_SNAPBACK}>

http://www.oanda.com/convert/classic

Get a better rate with oanda and as said for ATM n/w is best...