GBP to THB Exchange Rate

[Naam]

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.

until mid 1997 the Baht was pegged to the USD with only two adjustments in a long period before. therefore pre1997 rates are completely irrelevant as far as the presence and/or the future is concerned.

there's also no such thing like short selling of Sterling which could affect the Baht. any GBP short selling can only be carried out vs. major currencies. fact is that Sterling has either strengthened or held its position vs. major currencies.

check the facts gentlemen (Google is your friend) instead of airing totally baseless assumptions.

[chiang mai]

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.

until mid 1997 the Baht was pegged to the USD with only two adjustments in a long period before. therefore pre1997 rates are completely irrelevant as far as the presence and/or the future is concerned.

there's also no such thing like short selling of Sterling which could affect the Baht. any GBP short selling can only be carried out vs. major currencies. fact is that Sterling has either strengthened or held its position vs. major currencies.

check the facts gentlemen (Google is your friend) instead of airing totally baseless assumptions.

But those shorts discussed earlier are GBP against USD, and if the value of GBP does fall that would mean it's value against THB would also be lessened as an indirect result? Note: that was a question.

Edited June 7, 2013 by chiang mai

[MJP]

until mid 1997 the Baht was pegged to the USD with only two adjustments in a long period before. therefore pre1997 rates are completely irrelevant as far as the presence and/or the future is concerned.

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

there's also no such thing like short selling of Sterling which could affect the Baht. any GBP short selling can only be carried out vs. major currencies. fact is that Sterling has either strengthened or held its position vs. major currencies.

check the facts gentlemen (Google is your friend) instead of airing totally baseless assumptions.

Your post was enjoyable and informative . . . until the last sentence, the tone of which which has become synonymous with the misery that is posting on Thai Visa.

[homeownership]

Sterling is seen as a safe place to hedge your money at the moment, while the Euro continues with its crisis and the fed in the US is once again at its spending limits. With more people buying sterling, the currency is advancing on the Thai Baht. I am considering buying 20,000 GBP worth, as this status quo is only based on the market jitters of investor, once that evaporates, it will head down and down again. GBP VS THB that it.

[yoshiwara]

Sterling is seen as a safe place to hedge your money at the moment, while the Euro continues with its crisis and the fed in the US is once again at its spending limits. With more people buying sterling, the currency is advancing on the Thai Baht. I am considering buying 20,000 GBP worth, as this status quo is only based on the market jitters of investor, once that evaporates, it will head down and down again. GBP VS THB that it.

When GBPTHB was below 45 then there was an opportunity to buy sterling in order to return funds to the UK. For those who havesold their Thai apartments and sitting on baht a good move but IMHO only for a final destination conversion. I am not so convinced that sterling is worth using as a hedging currency now that we are above 47, so if I wanted to convert 1 million baht out of baht sterling would not be top of my list.

[chris2004]

I think Carnage is on record saying that he wants Sterling devalued by 10-15%. The Government are paying this guy $1 million a year so i assume he will have some leeway to implement his ideas. My bet is on Sterling coming down to low 40s by the year end.

[yoshiwara]

I think Carnage is on record saying that he wants Sterling devalued by 10-15%. The Government are paying this guy $1 million a year so i assume he will have some leeway to implement his ideas. My bet is on Sterling coming down to low 40s by the year end.

You think? or someone just made it up?

[chiang mai]

Sterling is seen as a safe place to hedge your money at the moment, while the Euro continues with its crisis and the fed in the US is once again at its spending limits. With more people buying sterling, the currency is advancing on the Thai Baht. I am considering buying 20,000 GBP worth, as this status quo is only based on the market jitters of investor, once that evaporates, it will head down and down again. GBP VS THB that it.

You're thinking of selling Baht and buying GBP20,000, is that what you intend?

[chiang mai]

I think Carnage is on record saying that he wants Sterling devalued by 10-15%. The Government are paying this guy $1 million a year so i assume he will have some leeway to implement his ideas. My bet is on Sterling coming down to low 40s by the year end.

There was talk of such things some months ago but since that time things have changed, most significantly the various monthly reports have shown an uptick and turned quite positive. Perhaps it's for that reason that the UK MPC has voted down any further QE for the past five meetings, if that's the case then I would guess that Carney might have changed his mind or be in the process of doing so..

As for GBP/USD, here's what a bunch of different FX people think:

http://www.fxstreet.com/technical/currencies-forecast/?pair=gbpusd&time=2013-158

Edited June 8, 2013 by chiang mai

[alfieconn]

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.

Would it not also strenghthen against the baht ? thus leaving GBP / BAHT the same !!!

[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.

Would it not also strenghthen against the baht ? thus leaving GBP / BAHT the same !!!

In practise Usd Strengthened from 1.558 to 1.556 and GBP/THB strengthened from 47.8. to 47.6.

[Naam]

until mid 1997 the Baht was pegged to the USD with only two adjustments in a long period before. therefore pre1997 rates are completely irrelevant as far as the presence and/or the future is concerned.

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

there's also no such thing like short selling of Sterling which could affect the Baht. any GBP short selling can only be carried out vs. major currencies. fact is that Sterling has either strengthened or held its position vs. major currencies.

check the facts gentlemen (Google is your friend) instead of airing totally baseless assumptions.

Your post was enjoyable and informative . . . until the last sentence, the tone of which which has become synonymous with the misery that is posting on Thai Visa.

me culpa! next time i will refrain from giving any honest advice. but i will not let posted nonsense remain unchallenged.

[chiang mai]

I give up!

[yoshiwara]

I think Carnage is on record saying that he wants Sterling devalued by 10-15%. The Government are paying this guy $1 million a year so i assume he will have some leeway to implement his ideas. My bet is on Sterling coming down to low 40s by the year end.

There was talk of such things some months ago but since that time things have changed, most significantly the various monthly reports have shown an uptick and turned quite positive. Perhaps it's for that reason that the UK MPC has voted down any further QE for the past five meetings, if that's the case then I would guess that Carney might have changed his mind or be in the process of doing so..

'There was some talk', 'then I would guess', 'Carney might have changed his mind or be in the process of doing so'.

Blah. Blah. Blah.

He didn't say it and he didn't change his mind.

[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?

Same game different day eh MMB?

Yes, same same.

Nothing has really changed, save UK is clawing its way back to health, and Thailand vice versa.

GBP will remain low against a basket of currencies for a few years that you can bank on.

But of interest to me today, was that line in Moody's report that suggested Thai banks are no longer going to get a blank cheque for their misdemeanours.

Now I've neen a very clever and industrious MB in the last few years and have amassed a certain sum of money in a Thai bank account, usual savings account with one of the big banks just like all of us have.

Should I be concerned do you think? I'd hate to have it effectively divested as happened in Cyprus and I have little doubt Thailand is heading for a crash at some point, and that point just got nearer than I previously thought.

[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?

Yes, same same.

Nothing has really changed, save UK is clawing its way back to health, and Thailand vice versa.

GBP will remain low against a basket of currencies for a few years that you can bank on.

But of interest to me today, was that line in Moody's report that suggested Thai banks are no longer going to get a blank cheque for their misdemeanours.

Now I've neen a very clever and industrious MB in the last few years and have amassed a certain sum of money in a Thai bank account, usual savings account with one of the big banks just like all of us have.

Should I be concerned do you think? I'd hate to have it effectively divested as happened in Cyprus and I have little doubt Thailand is heading for a crash at some point, and that point just got nearer than I previously thought.

Well there's the deposit protection scheme that covers all ammounts until 2016 when it reduces down to 1 mill http://www.dpa.or.th/ewt_news.php?nid=320&filename=index___EN so there's some protection there, maybe! But I would guess the best thing to do is to spread your funds across a range of banks rather than leave it all in a single account, that would be a super smart thing to do. Finally, maybe consider banks like UOB (singapore) and CIMB (Malaysia) as well as local Thai banks.

[yoshiwara]

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?

Yes, same same.

Nothing has really changed, save UK is clawing its way back to health, and Thailand vice versa.

GBP will remain low against a basket of currencies for a few years that you can bank on.

But of interest to me today, was that line in Moody's report that suggested Thai banks are no longer going to get a blank cheque for their misdemeanours.

Now I've neen a very clever and industrious MB in the last few years and have amassed a certain sum of money in a Thai bank account, usual savings account with one of the big banks just like all of us have.

Should I be concerned do you think? I'd hate to have it effectively divested as happened in Cyprus and I have little doubt Thailand is heading for a crash at some point, and that point just got nearer than I previously thought.

There is not a binary answer to your concerns, but since you are feeling a little uncomfortable and I presume we are talking abut a serious amount of money, then I think you need to consider what amount of money you do feel comfortable holding in the Thai banking system and how much you want to hold in an individual bank. Re the second option simple to spread it around a number of banks. Re the first option, ie keeping it all in Thailand then you might consider opening a bank account in Hong Kong or Singapore and transferring some of the funds there.

[NeverSure]

Sterling is seen as a safe place to hedge your money at the moment, while the Euro continues with its crisis and the fed in the US is once again at its spending limits. With more people buying sterling, the currency is advancing on the Thai Baht. I am considering buying 20,000 GBP worth, as this status quo is only based on the market jitters of investor, once that evaporates, it will head down and down again. GBP VS THB that it.

Let's just be clear on a couple of things, which I'm sure you already know. The US is doing its best to drive down the value of the dollar to stimulate exports.

The US Congress has to approve more spending by the government from time to time, but the Fed doesn't need permission from anyone to do QE or to capitalize weak banks with cash. The Fed isn't part of the US government and doesn't answer to it.

The cash infusions into banks aren't spent money but are capital on the books. Most banks have paid it back or have been merged into stronger banks so that process is pretty much over.

But the fed isn't limited to what it can do to drive down the dollar or to drive down interest rates, or reverse that if it thinks it should. So the value of the dollar is highly manipulated and it's not possible for me to guess where it might go in the near or distant future.

[davejones]

I think Carnage is on record saying that he wants Sterling devalued by 10-15%. The Government are paying this guy $1 million a year so i assume he will have some leeway to implement his ideas. My bet is on Sterling coming down to low 40s by the year end.

Devalued 10-15% against what? It can only be devalued against another currency. It can be almost impossible to achieve if the government of the other currency also want that devalued.

You think? So you don't actually know? What makes you even think this? Did you have a dream?

GBP has already been to low 40s, but now it's heading back up.

[davejones]

Most of you spend far too much time worrying about the small stuff. Spend your time making more money and it won't matter what happens to the exchange rate. Much better than wasting time with something you have no control over. By all means makes some sensible plans, but don't spend all your time on what if scenarios. One day you'll be dead.

[alfieconn]

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.

Would it not also strenghthen against the baht ? thus leaving GBP / BAHT the same !!!

In practise Usd Strengthened from 1.558 to 1.556 and GBP/THB strengthened from 47.8. to 47.6.

You havn't answered my question, but from the figures your saying that the dollar weakened against the baht !

Footnote : in your example GBP / THB actually weakened

[Naam]

Most of you spend far too much time worrying about the small stuff. Spend your time making more money and it won't matter what happens to the exchange rate. Much better than wasting time with something you have no control over. By all means makes some sensible plans, but don't spend all your time on what if scenarios. One day you'll be dead.

your advice makes sense but don't forget that a number of retired expats have to make ends meet by using an established fixed income without any substantial savings to invest making "more money". for them exchange rates are not small but big stuff.

[yoshiwara]

One day you'll be dead.

That doesn't seem to stop some forum contributors

[Malthus101]

Hello People

So, on a practical level, my money is still in the UK in GBP. I need it here and I now have a Thai bank account.

Since arriving 6 weeks ago, the baht has gone up from 44. something to now over 47.

There appears to be a support level on the chart of 47.5 but on the montly chart the trend is upwards.

What do you experts think the chance of it tapping 50 baht is? Should I wait?

Maybe I should move some cash over now and leaves the rest in GBP?

I also heard it was possible to send the money over in GBP and hold it in a special foreign currency account and then exchange it locally when the rate is most favourable - is this true and easy to do? I am with Bangkok Bank. And any idea how loing it takes to send GBP from the UK to Thailand?

In a previous post, someone mentioned Super Rich - what exactly is that? He said the rates are better than doing a bank transfer.

Any advice would be helpful - thanks.

[AnotherOneAmerican]

There appears to be a support level on the chart of 47.5 but on the montly chart the trend is upwards.

What do you experts think the chance of it tapping 50 baht is? Should I wait?

Maybe I should move some cash over now and leaves the rest in GBP?

Support level = no weekend trading.

Wait, it'll be going up all week IMHO, 49 by Friday.

PS, don't wait on my predictions, I freely admit I know nothing.

[yoshiwara]

Hello People

So, on a practical level, my money is still in the UK in GBP. I need it here and I now have a Thai bank account.

Since arriving 6 weeks ago, the baht has gone up from 44. something to now over 47.

There appears to be a support level on the chart of 47.5 but on the montly chart the trend is upwards.

What do you experts think the chance of it tapping 50 baht is? Should I wait?

Maybe I should move some cash over now and leaves the rest in GBP?

I also heard it was possible to send the money over in GBP and hold it in a special foreign currency account and then exchange it locally when the rate is most favourable - is this true and easy to do? I am with Bangkok Bank. And any idea how loing it takes to send GBP from the UK to Thailand?

In a previous post, someone mentioned Super Rich - what exactly is that? He said the rates are better than doing a bank transfer.

Any advice would be helpful - thanks.

Super Rich is an FX exchange like TT. They will change any sterling cash you bring over...which is not the same as transferring sterling over into your BB account. You can't just pull it out in sterling and toddle down to SR to change it. You would have to pay a premium. You can of course let the money sit in the BB and change it when you want. Transferring money to Thailand? About 5 working days max. How much to convert to baht? Your call. You might change 50% and sit on the rest. If its under 6 figures sterling not worth agonising too much.

[yoshiwara]

48! There will be singing and dancing in the streets tonight.

[wordchild]

current gbp/thb on bloomberg 48.1297 - 48.1763

Edited June 11, 2013 by wordchild

[davejones]

Most of you spend far too much time worrying about the small stuff. Spend your time making more money and it won't matter what happens to the exchange rate. Much better than wasting time with something you have no control over. By all means makes some sensible plans, but don't spend all your time on what if scenarios. One day you'll be dead.

your advice makes sense but don't forget that a number of retired expats have to make ends meet by using an established fixed income without any substantial savings to invest making "more money". for them exchange rates are not small but big stuff.

You don't need money to make more money. Plenty of ways to earn extra income - teach, write books, blog, etc. All fairly easy.Eve if you only earn a little extra,, it's time better spent than worrying about the exchange rate. I just feel like it's distracting lots of people from real life.

[davejones]

48! There will be singing and dancing in the streets tonight.

Where are all those that were claiming it would be under 40 by now? All gone quiet.