Pound/Baht

[Naam]

did the Pound reach 140 Baht in the famous Hollywood movie "The Oklahoma Axe Murderer" or did you just make it up to get a reaction from Bendix or myself?

for the record: 12 years ago GBP's low vs. THB was 57.56 (may 24, 2000) and its high was 62.83 (dec 27, 2000).

It will get no reaction from me Naam. I distinctly remember those months well. In fact, 140 was chicken feed. I distinctly remember getting 180 baht to the pound. Or was in Vietnamese dong? I always get the two mixed up but not that it really matters. It's all fixed by the Bank of Thailand, innit?

it's indeed all fixed by the Bank of Thailand. rumour has it that the BoT even fixed two metric pounds for one kilogram.

Surely a pound is not a metric measure?

Unless you mean the metricised pound sterling?

a metric pound (500 grams) has existed in continental Europe since ages. of course the natives inhabiting a certain remote island located in the North Sea did not realise it.

reason: they were always too busy and confused figuring out how many Shillings to a Guinea, how many Farthings to a "Hay-penny" and how many mugs of (YUCKish) Ale for a Half-Crown.

[Darrel]

The last I looked its over 49 but will it get to 50 by the end of the week?

It already is. 50.049 mid rate at time of posting.

[Naam]

The last I looked its over 49 but will it get to 50 by the end of the week?

It already is. 50.049 mid rate at time of posting.

published by some irrelevant xe.com? i see an interbank mid rate of 49.77 which translates in 49.66 buying GBP THB.

[Darrel]

I dont know what you have against XE.com (their mid rates are as good as anyone else's as far as I'm concerned) but the rate I quoted came from my Google desktop widget. I have found that it mirrors the movements in the mid rate my bank uses very closely indeed (of course the bank then deducts its own spread) which makes it very relevant to me. It didnt last very long so it was probably just a blip and it has dropped down to 50.009 at time of writing. XE.com shows 49.92 at the same time.

[cmsally]

Seeing as we are approaching Olympics, is a strong pound good to encourage visitors? As well as encouraging the natives to go abroad. Maybe we will see someone from BoE or govt open their big mouth to reverse the trend and make a bit of dosh on some currency trading at the same time. Opening their mouth and saying something disastrous does after all require minimum effort on their part!

[fletchsmile]

looking back and taking 35 years of personal experience into consideration i'd say "never say never when it concerns exchange rates!"

I prefer the following as a little more accurate Dr.Naam

"Almost never say never..."

Similar to:

"Everything in moderation. Including moderation"

To OP, Yes I reckon a reasonable window for getting slightly above 50 baht to the pound for a short while at least. Don't bank on it lasting your lifetime though, as Dr.Naam prescribes...

BTW BloomBerg GBP/USD 1.6119 and USD/THB 31.02 = cross rate which is a nat's **** above 50 at the time of writing

Edited April 23, 2012 by fletchsmile

[chiang mai]

Seeing as we are approaching Olympics, is a strong pound good to encourage visitors? As well as encouraging the natives to go abroad. Maybe we will see someone from BoE or govt open their big mouth to reverse the trend and make a bit of dosh on some currency trading at the same time. Opening their mouth and saying something disastrous does after all require minimum effort on their part!

And they're so skilled at it.

[cmsally]

Seeing as we are approaching Olympics, is a strong pound good to encourage visitors? As well as encouraging the natives to go abroad. Maybe we will see someone from BoE or govt open their big mouth to reverse the trend and make a bit of dosh on some currency trading at the same time. Opening their mouth and saying something disastrous does after all require minimum effort on their part!

And they're so skilled at it.

Practice makes perfect .

[chiang mai]

Most seem to agree that interest rates aren't going anywhere:

http://www.guardian.co.uk/money/2012/apr/23/interest-rates-stay-low-bank-of-england

[Naam]

looking back and taking 35 years of personal experience into consideration i'd say "never say never when it concerns exchange rates!"

I prefer the following as a little more accurate Dr.Naam

"Almost never say never..."

Similar to:

"Everything in moderation. Including moderation"

To OP, Yes I reckon a reasonable window for getting slightly above 50 baht to the pound for a short while at least. Don't bank on it lasting your lifetime though, as Dr.Naam prescribes...

BTW BloomBerg GBP/USD 1.6119 and USD/THB 31.02 = cross rate which is a nat's **** above 50 at the time of writing

TT rate SCB 0833hrs = 49.73375

Thomson Reuters mid rate = 49.975

UBS, SG ~0845hrs = 49.755

[chiang mai]

Unusually for this pair there's been an almost daily swing of late, about one to and half baht each way, only a small amount but as I said, unusual since they are normally very flat. I wonder if this is BOT intervention, trying to manage exchange rates, anyone? Just my curiosity, nothing more!

[PattayaParent]

it's indeed all fixed by the Bank of Thailand. rumour has it that the BoT even fixed two metric pounds for one kilogram.

Surely a pound is not a metric measure?

Unless you mean the metricised pound sterling?

a metric pound (500 grams) has existed in continental Europe since ages. of course the natives inhabiting a certain remote island located in the North Sea did not realise it.

reason: they were always too busy and confused figuring out how many Shillings to a Guinea, how many Farthings to a "Hay-penny" and how many mugs of (YUCKish) Ale for a Half-Crown.

Oh, it's a European thing. That explains it!

Do they have a metric pint as well?

[transam]

Naam, there is no ''metric'' pound, a pound is a pound, totally different measurement.

PS, there are 2 Farthings to a Half (hay ) Penny.

[Naam]

Naam, there is no ''metric'' pound, a pound is a pound, totally different measurement.

PS, there are 2 Farthings to a Half (hay ) Penny.

Transam, you are the living proof that many island and/or colonial natives have no idea of highly sophisticated continental metrics but they excel in barbaric stone age measures like "stones, bushels, quarts, pecks, hundredweights, centipedes, rattlesnakes, etc." what is most annoying that some of the natives do not differentiate at all because the call both a cubic meter and a kilowatthour a "yewnit" and when in Thailand some of them complain that different landlords charge different amounts of Baht for these yewnits.

for the record: a metric pound is 50% of a metric kilogram. a US colonial pound is identical with a British pound (each 453.515 grams). and then there is the "Troy" pound equivalent to 373.274 grams.

there is also the (allegedly) very important Sterling Pound...

Edited April 24, 2012 by Naam

[Naam]

it's indeed all fixed by the Bank of Thailand. rumour has it that the BoT even fixed two metric pounds for one kilogram.

Surely a pound is not a metric measure?

Unless you mean the metricised pound sterling?

a metric pound (500 grams) has existed in continental Europe since ages. of course the natives inhabiting a certain remote island located in the North Sea did not realise it.

reason: they were always too busy and confused figuring out how many Shillings to a Guinea, how many Farthings to a "Hay-penny" and how many mugs of (YUCKish) Ale for a Half-Crown.

Oh, it's a European thing. That explains it!

Do they have a metric pint as well?

sure, all our yewnits are metric.

[transam]

Naam, there is no ''metric'' pound, a pound is a pound, totally different measurement.

PS, there are 2 Farthings to a Half (hay ) Penny.

Transam, you are the living proof that many island and/or colonial natives have no idea of highly sophisticated continental metrics but they excel in barbaric stone age measures like "stones, bushels, quarts, pecks, hundredweights, centipedes, rattlesnakes, etc." what is most annoying that some of the natives do not differentiate at all because the call both a cubic meter and a kilowatthour a "yewnit" and when in Thailand some of them complain that different landlords charge different amounts of Baht for these yewnits.

for the record: a metric pound is 50% of a metric kilogram. a US colonial pound is identical with a British pound (each 453.515 grams). and then there is the "Troy" pound equivalent to 373.274 grams.

there is also the (allegedly) very important Sterling Pound...

All those names mean nothing really, only the measurement of a given country or continent. The UK had it's own thread sizes for nuts and bolts, the USA had their own thread sizes, and yes, the Germans (Europeans) had their sizes using a ''ten'' derivative, .which has now been accepted globally as the easiest way to go. BUT, a pound is a pound, 12 ounces.

[Naam]

All those names mean nothing really, only the measurement of a given country or continent. The UK had it's own thread sizes for nuts and bolts, the USA had their own thread sizes, and yes, the Germans (Europeans) had their sizes using a ''ten'' derivative, .which has now been accepted globally as the easiest way to go. BUT, a pound is a pound, 12 ounces.

how many ounces to a Pound Sterling?

[transam]

All those names mean nothing really, only the measurement of a given country or continent. The UK had it's own thread sizes for nuts and bolts, the USA had their own thread sizes, and yes, the Germans (Europeans) had their sizes using a ''ten'' derivative, .which has now been accepted globally as the easiest way to go. BUT, a pound is a pound, 12 ounces.

how many ounces to a Pound Sterling?

About 20146789631, l think.

[letitbe]

in my lifetime ive seem GBP at 1.01 us$ later at 2.1 or so at over 3 aus $ to gbp now only about 1.5 at 8 or more swiss franks to GBP now around 1.6 or so. ALl that can IMO be predicted with certainty is GBP US$ and most of other fiat money will continue to fall at a fast rate. Our income comes in GBP US$ Sing$ HK $ and Baht and weve been slowly over last 3-4 years been converting 30-40% of our real assets to gold and silver as IMO one of only things which almost certainly will hold some real value and so be able to be swapped for food and other things needed. WE now convert any spare money we have as quickly as we can into gold and silver (real physical stuff mostly) and then when we want need to buy anything large convert back to whatever fiat currency we need for that particular thing. I recommend people stop worrying about exchange rate and instead keep a close eye on inflation and currency debasement. Anyone who really thinks inflation is a mere 3-6% here in UK or almost anywhere must be buying things we dont buy and spending little on food, petrol, school fees, electricity, transport, gas, going out, air tickets, hotels and rest. IMO inflation for poor must be around 10-15% pa and for middle around 10% and maybe for top 1% actual 3-5% most governments claim.

[Naam]

how many ounces to a Pound Sterling?

About 20146789631, l think.

and how many pints in a ruling V8?

[TommoPhysicist]

All those names mean nothing really, only the measurement of a given country or continent. The UK had it's own thread sizes for nuts and bolts, the USA had their own thread sizes, and yes, the Germans (Europeans) had their sizes using a ''ten'' derivative, .which has now been accepted globally as the easiest way to go. BUT, a pound is a pound, 12 ounces.

how many ounces to a Pound Sterling?

1 pound sterling was worth 16 ounces of silver, 240 silver pennies, 5,400 troy grains of silver or 7,680 tower grains of silver. The Pound was a measure of weight, and Sterling was a reference to the purity of the silver used, 92.5%.

Edited April 24, 2012 by TommoPhysicist

[letitbe]

1 pound sterling was worth 16 ounces of silver, 240 silver pennies, 5,400 troy grains of silver or 7,680 tower grains of silver. The Pound was a measure of weight, and Sterling was a reference to the purity of the silver used, 92.5%.

so these days 1 pound sterling is worth around 1/320 th of what it used to be worth or another way it would today take around 320 gbp to buy amount of silver that 1 pound sterling used to buy. If thats right it sort of amply demonstrates the debasement and worthlessness of fiat currency. I dont know but I suppose at one time 1 baht bought 1 baht of gold and now it takes around 24,000 baht to buy same. Now thats some inflation.

[transam]

how many ounces to a Pound Sterling?

About 20146789631, l think.

and how many pints in a ruling V8?

What V8, loads to choose from, and l can do the maths. ?

[Naam]

how many ounces to a Pound Sterling?

About 20146789631, l think.

and how many pints in a ruling V8?

What V8, loads to choose from, and l can do the maths. ?

the ones i had in Germany.

Edited April 24, 2012 by Naam

[transam]

Oh that one, sorry, a Skoda never had a V8.

[Naam]

Oh that one, sorry, a Skoda never had a V8.

[Naam]

4,973 cc V8

and

6,162 cc (376.0 cu in) V8

[transam]

4,973 cc V8

and

6,162 cc (376.0 cu in) V8

Weeeeeeeell, you had 8.75 and 10.85 pints (roughly) under your foot.

[Naam]

4,973 cc V8

and

6,162 cc (376.0 cu in) V8

Weeeeeeeell, you had 8.75 and 10.85 pints (roughly) under your foot.

but never at the same time!

[transam]

4,973 cc V8

and

6,162 cc (376.0 cu in) V8

Weeeeeeeell, you had 8.75 and 10.85 pints (roughly) under your foot.

but never at the same time!

Now that would be a machine eh.