GBP to THB Exchange Rate

[theblether]

I haven't read the whole thread, has someone posted this already?

http://www.telegraph.co.uk/finance/economics/10086652/New-BoE-chief-Carney-will-devalue-sterling-Pimco-warns.html

[dsfbrit]

I for one have found this topic very useful - so thanks for all your input. I have read most of the posts and even those off topic relating to house ownership in the UK etc..., which had some small relevance to my situation, as it was an indication as to whether the UK economy would be slightly stronger now or weaker .

I read lots of other financial sources as well (I have to I have my savings in Banks like the Coop!!!), but Thaivisa is good when considering the baht / pound relationship in more detail.

I needed to transfer around 10k pounds over here to extend my visa based on marriage (ie need at least 400K baht in bank). I would have sent it over several weks ago, but at that time the exchange rate was around 42/43. I read here somewhere that the Thai government was considering a drop in interest rate of 0.25 points at the end of last month and so that may mean the pound exchange rate would be slightly stronger.

So I delayed sending my 10k Pounds over here until this week and got an exchange rate of nearly 47 instead of 42/43. So although it is not a massive amount, the 470000 baht I received instead of the 430000 baht I would have received, is 40K baht more than I would have received had I not been influenced by this thread - so thanks a lot to you all!!!!

Edited June 7, 2013 by dsfbrit

[chiang mai]

I haven't read the whole thread, has someone posted this already?

http://www.telegraph.co.uk/finance/economics/10086652/New-BoE-chief-Carney-will-devalue-sterling-Pimco-warns.html

The article on your link has been removed but it looks like it's Pimco again, they're forever issuing warnings on Sterling since they are primarily a bond dealer. And whilst the warning was valid some time ago it has become less valid of late as the MPC has voted against further QE for five consecutive meetings, that's not see they will not reverse their view when Carney comes on board but in light of a series of positive reports from Markit/services plus retail, it seems unlikely as of today that the call for more QE will be needed. Having said that, MJP posted earlier in the thread that the volume of Sterling shorts has soared so it looks like the hedge funds at least are betting in favour of further devaluation, who knows.

Edited June 7, 2013 by chiang mai

[NeverSure]

I haven't read the whole thread, has someone posted this already?

http://www.telegraph.co.uk/finance/economics/10086652/New-BoE-chief-Carney-will-devalue-sterling-Pimco-warns.html

That link doesn't work for me, but I'd love to read it based on what I can see.

Most Western governments are trying to drive the value of their currencies down to stimulate their exports. I've been expecting something for the GBP.

[yoshiwara]

You have all been whipped.

Hello! Its Mr Whippy!

[AnotherOneAmerican]

I haven't read the whole thread, has someone posted this already?

http://www.telegraph.co.uk/finance/economics/10086652/New-BoE-chief-Carney-will-devalue-sterling-Pimco-warns.html

GBP has gained another 0.5 bht today at 47.7 now.

That's a 7% rise in 3 weeks.

Edited June 7, 2013 by AnotherOneAmerican

[Naam]

If you want to look at GBP/THB you have to look at GBP/USD, that's as far as you need to go, MJP's chart of GBP shorts makes excellent reading, what say you now "onemoreamerican"?

GBP/USD doesn't vary that much normally floats along at 1.4-1.6, not all that exciting unless you are a really big player.

But the Thai baht against western currency can double or half in a week, much more exciting.

But what it comes down to in reality is stability of Asia Vs stability of the West.

You think the west is finished, I think Asia is a disaster waiting to happen.

Either or both of us could be right.

GBP/USD doesn't vary that much...

yeah right! why would a difference of plus 53% minus 35% matter?

these teenie weenie fluctations do not warrant a serious discussion.

[Cambodger]

If you want to look at GBP/THB you have to look at GBP/USD, that's as far as you need to go, MJP's chart of GBP shorts makes excellent reading, what say you now "onemoreamerican"?

You CANNOT look at GBP vs USD. Each manipulates its own money to help its exports. The UK would like to have the GBP lower but it can't get it there. The US would like to have the dollar lower. The problem is that both are seen as safe havens and no matter how much they lower interest rates, money is flowing in.

Sometime when people short a currency they lose and sometimes they win. I don't play that game because really big international money will usually beat me and leave me as one of the suckers.

You've lost it NS, you don't know what you're talking about, over and out.

I've gone back and forth with you enough. If anyone doesn't know what he's talking about it's you. You have no education or knowledge of this subject yet you insist on making uninformed statements. I would be most happy if you would stop replying to my posts.

I post links. I just posted a new one which shows 661 billion baht that the government owes. That's a back breaker for Thailand. No one knows where any rice is or what condition it's in. The government is corrupt and it could all be stolen. This is a major concern and a number that could break that bank and the government. It could send the baht into a tailspin.

Where are your links? Where are your facts? Where is your cohesive debate?

Debate me with links and facts. Debate me on a world scale which is what drives currencies. Put some facts forward backed by links.

Don't just sit there like Naam and take pot shots with no facts and no idea what's going on. Neither you nor Naam has a clue what's happening and yet you like to sound important. Sounding important without links, facts, or cohesive debate only makes you look like what you are.

So please, "over and out."

Its wrong to say neversure doesn't know what hes talking about...

Pretty much everything hes been banging on about for the last 6 months+ appears to be happening right now.

[Naam]

What I'll show you NS is that I, like many other posters, I have now put you on Ignore, that means that whilst you may post your baiting and drivel, I will not have to look at them since they will be hidden. You'll find that facility under My Profile, should you ever wish to use it. Byee!

in my [not so] humble view an unwise decision! who will inform you in what way the decreasing unemployment rate in North Dakota affects the Bank of Thailand decisions on interest rates and how the price of a Ford pickup truck, bought in a suburb of Nowhereville, Midwest, affects China's GDP?

[smokie36]

Up up up please!

[chiang mai]

If you want to look at GBP/THB you have to look at GBP/USD, that's as far as you need to go, MJP's chart of GBP shorts makes excellent reading, what say you now "onemoreamerican"?

You CANNOT look at GBP vs USD. Each manipulates its own money to help its exports. The UK would like to have the GBP lower but it can't get it there. The US would like to have the dollar lower. The problem is that both are seen as safe havens and no matter how much they lower interest rates, money is flowing in.

Sometime when people short a currency they lose and sometimes they win. I don't play that game because really big international money will usually beat me and leave me as one of the suckers.

You've lost it NS, you don't know what you're talking about, over and out.

I've gone back and forth with you enough. If anyone doesn't know what he's talking about it's you. You have no education or knowledge of this subject yet you insist on making uninformed statements. I would be most happy if you would stop replying to my posts.

I post links. I just posted a new one which shows 661 billion baht that the government owes. That's a back breaker for Thailand. No one knows where any rice is or what condition it's in. The government is corrupt and it could all be stolen. This is a major concern and a number that could break that bank and the government. It could send the baht into a tailspin.

Where are your links? Where are your facts? Where is your cohesive debate?

Debate me with links and facts. Debate me on a world scale which is what drives currencies. Put some facts forward backed by links.

Don't just sit there like Naam and take pot shots with no facts and no idea what's going on. Neither you nor Naam has a clue what's happening and yet you like to sound important. Sounding important without links, facts, or cohesive debate only makes you look like what you are.

So please, "over and out."

Its wrong to say neversure doesn't know what hes talking about...

Pretty much everything hes been banging on about for the last 6 months+ appears to be happening right now.

And never once did he mention capital outflows, only rice rice and more rice.

[MJP]

Up up up please!

It's short selling of Sterling. It's more of a worry for UK expats than anything to celebrate. In my opinion, it's the signal that Sterling will soon move into a lower trading range, 39-43 THB.

I will add, it'll take the next monthly meeting of the BoE to decide which way Sterling is going. That will be the first meeting with Mark Carney as Governor. If they decide to ramp QE up in that meeting then GBP will fall dramatically. If they don't, GBP will stabilise until the next meeting. This all comes down to the new BoE Governor and decisions over QE.

Edited June 7, 2013 by MJP

[Huayrat]

Up up up please!

It's short selling of Sterling. It's more of a worry for UK expats than anything to celebrate. In my opinion, it's the signal that Sterling will soon move into a lower trading range, 39-43 THB.

still laughing at that prediction...

[MJP]

Up up up please!

It's short selling of Sterling. It's more of a worry for UK expats than anything to celebrate. In my opinion, it's the signal that Sterling will soon move into a lower trading range, 39-43 THB.

still laughing at that prediction...

It was 39-40 for most of the 1990's.

[MJP]

It's rather long and I'm in the process of reading it at the moment, but thought I might share this . . .

http://www.moneyweek.com/endofbritain

[yoshiwara]

Up up up please!

It's short selling of Sterling. It's more of a worry for UK expats than anything to celebrate. In my opinion, it's the signal that Sterling will soon move into a lower trading range, 39-43 THB.

still laughing at that prediction...

It was 39-40 for most of the 1990's.

which I believe is in the past and cannot therefore be predicted unless entering a parallel universe of different time dimensions....

[MJP]

It was 39-40 for most of the 1990's.

which I believe is in the past and cannot therefore be predicted unless entering a parallel universe of different time dimensions....

What'd you reckon then?

[chiang mai]

It's short selling of Sterling. It's more of a worry for UK expats than anything to celebrate. In my opinion, it's the signal that Sterling will soon move into a lower trading range, 39-43 THB.

still laughing at that prediction...

It was 39-40 for most of the 1990's.

which I believe is in the past and cannot therefore be predicted unless entering a parallel universe of different time dimensions....

Which is what we did, that's why we know.

[chiang mai]

See the US employment numbers are in, just a little higher than predicted but not enough to convince the Fed that QE must end, watch GBP/USD fall and GBP/THB along with it I would guess.

[Huayrat]

serious question but why would the GBP fall to the Thai currency due to high unemployment in the U.S. ?

[chiang mai]

serious question but why would the GBP fall to the Thai currency due to high unemployment in the U.S. ?

It means the US Fed will not stop their QE program.hence USD strengthens and that means it strengthens against GBP also.

[Huayrat]

serious question but why would the GBP fall to the Thai currency due to high unemployment in the U.S. ?

It means the US Fed will not stop their QE program.hence USD strengthens and that means it strengthens against GBP also.

oh ok Thank you.. I thought that if you print money then it makes the currency weaker not stronger.. I apologise in advance if thats incorrect

[MJP]

I'm just glad I lost all my money in Thailand after I bought at 75.75 to the quid.

Somehow that makes it all okay.

[mommysboy]

Ah what a happy thread!

My take there are big wheels and little wheels. and the big wheel is rolling back towards better times in UK and contrariwise for Thailand.

But it is in the interests of both countries to have a low exchange rate, another race to the bottom and it should be noted that UK has seen off all comers so far and with Con Carney set to receive the baton I see more of the same.

In fact just a couple of weeks ago I was bracing myself for dip as low as 42.

Short term I see a dip in both currencies, so will predict 45- 48 range.

There is a small chance the baht could really go belly up though.

I think my stance is best depicted by one of Naam's stock of pictures. Time for the penny farthing?

[NeverSure]

What I'll show you NS is that I, like many other posters, I have now put you on Ignore, that means that whilst you may post your baiting and drivel, I will not have to look at them since they will be hidden. You'll find that facility under My Profile, should you ever wish to use it. Byee!

in my [not so] humble view an unwise decision! who will inform you in what way the decreasing unemployment rate in North Dakota affects the Bank of Thailand decisions on interest rates and how the price of a Ford pickup truck, bought in a suburb of Nowhereville, Midwest, affects China's GDP?

You CANNOT look at GBP vs USD. Each manipulates its own money to help its exports. The UK would like to have the GBP lower but it can't get it there. The US would like to have the dollar lower. The problem is that both are seen as safe havens and no matter how much they lower interest rates, money is flowing in.

Sometime when people short a currency they lose and sometimes they win. I don't play that game because really big international money will usually beat me and leave me as one of the suckers.

I've gone back and forth with you enough. If anyone doesn't know what he's talking about it's you. You have no education or knowledge of this subject yet you insist on making uninformed statements. I would be most happy if you would stop replying to my posts.

I post links. I just posted a new one which shows 661 billion baht that the government owes. That's a back breaker for Thailand. No one knows where any rice is or what condition it's in. The government is corrupt and it could all be stolen. This is a major concern and a number that could break that bank and the government. It could send the baht into a tailspin.

Where are your links? Where are your facts? Where is your cohesive debate?

Debate me with links and facts. Debate me on a world scale which is what drives currencies. Put some facts forward backed by links.

Don't just sit there like Naam and take pot shots with no facts and no idea what's going on. Neither you nor Naam has a clue what's happening and yet you like to sound important. Sounding important without links, facts, or cohesive debate only makes you look like what you are.

So please, "over and out."

Its wrong to say neversure doesn't know what hes talking about...

Pretty much everything hes been banging on about for the last 6 months+ appears to be happening right now.

Thank you. And all you can get from some of these guys is uninformed statements, and/or combined with smart ass remarks.

They will can not engage in serious discussion. They don't learn anything either.

[MJP]

Where Thailand has rice the UK has houses . . . I guess this is the UK's equivalent rice pledging scheme . . .

http://www.moneyweek.com/blog/help-to-buy-moronic-mortgage-scheme-will-end-in-tears-64300

This sort of thing can't possibly improve confidence in the UK and GBP's prospects.

[chiang mai]

serious question but why would the GBP fall to the Thai currency due to high unemployment in the U.S. ?

It means the US Fed will not stop their QE program.hence USD strengthens and that means it strengthens against GBP also.

oh ok Thank you.. I thought that if you print money then it makes the currency weaker not stronger.. I apologise in advance if thats incorrect

No, you are correct, QE does weaken a currency and benefit equities. But on this occasion two factors came into play: the first was that the fall in the value of USD beforehand was overdone in anticipation of a different scenario and secondly, the final numbers were difficult to interpret, the market couldn't decide initially whether they were good or not because they came in just over the analysts expctations, all of that pointed to a slight strengthening of the currency. It'll be interesting to see what happens on Monday.

[NeverSure]

Where Thailand has rice the UK has houses . . . I guess this is the UK's equivalent rice pledging scheme . . .

http://www.moneyweek.com/blog/help-to-buy-moronic-mortgage-scheme-will-end-in-tears-64300

This sort of thing can't possibly improve confidence in the UK and GBP's prospects.

You're right. In a free market, the only thing to do with rice or houses or anything else is let the market decide what it's worth. While it was painful for some and for a time, I think one of the best things that happened in the US was that housing crashed. Now it's back on a footing that is sustainable by market forces. Inventories have dropped and some solid underpinnings are beginning to show.

As for currencies, it's not just QE. It's interest rates. Money tends to chase higher interest rates, and he who has the lowest may also see a "negative" impact on currency values for a time. Thailand has high interest rates which attract a lot of money, and every foreign deposit requires the purchase of baht in exchange for another currency, driving up demand for and the price of baht.

It wouldn't take much, such as a loss of confidence, to drive it in the other direction.

[MJP]

Where Thailand has rice the UK has houses . . . I guess this is the UK's equivalent rice pledging scheme . . .

http://www.moneyweek.com/blog/help-to-buy-moronic-mortgage-scheme-will-end-in-tears-64300

This sort of thing can't possibly improve confidence in the UK and GBP's prospects.

You're right. In a free market, the only thing to do with rice or houses or anything else is let the market decide what it's worth. While it was painful for some and for a time, I think one of the best things that happened in the US was that housing crashed. Now it's back on a footing that is sustainable by market forces. Inventories have dropped and some solid underpinnings are beginning to show.

As for currencies, it's not just QE. It's interest rates. Money tends to chase higher interest rates, and he who has the lowest may also see a "negative" impact on currency values for a time. Thailand has high interest rates which attract a lot of money, and every foreign deposit requires the purchase of baht in exchange for another currency, driving up demand for and the price of baht.

It wouldn't take much, such as a loss of confidence, to drive it in the other direction.

"We used to think you could spend your way out of recession and increase employment by boosting government spending… I tell you that option no longer exists. And so far as it ever did exist, it only worked on each occasion… by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step."

Jim Callaghan, 1976

[chiang mai]

Ah what a happy thread!

My take there are big wheels and little wheels. and the big wheel is rolling back towards better times in UK and contrariwise for Thailand.

But it is in the interests of both countries to have a low exchange rate, another race to the bottom and it should be noted that UK has seen off all comers so far and with Con Carney set to receive the baton I see more of the same.

In fact just a couple of weeks ago I was bracing myself for dip as low as 42.

Short term I see a dip in both currencies, so will predict 45- 48 range.

There is a small chance the baht could really go belly up though.

I think my stance is best depicted by one of Naam's stock of pictures. Time for the penny farthing?

Same game different day eh MMB?