GBP to THB Exchange Rate

[chiang mai]

CM

The whole uk banking system and house hold spending and therefore wider economy is reliant of the health of the housing market; the government knows this, hence the policy. So I think it is in the nations interests; so long as they don't let it get out of control but with proper credit checks it should be fine and not end up like the US debacle. Other policies could be brought in to increase affordability with out damaging the wider market; such as scrapping the EU lead over regulation of building standards/ CO2 green bla bla bla- allowing cheaper houses to be built for first time buyers or part ownership schemes.

(Disclaimer- I recognise I could be wrong and the whole thing blow up, but that could happen anyway.)

We agree entirely on the first part of what you wrote, I'm not certain however whether a better way forward might be a complete change by hitting the reset button, that would be in the best interests of the majority of the population although not the establishement.

[chiang mai]

As fine a bank as Berenberg Bank might be I confess to not having heard of it, despite having worked in banking and in the City for some years, I never heard nor saw the name once. But no big deal, I'm certain there are others out there in the same boat.

The point of my initial statement on this was that the venerable Daily Telegraph managed to get a quote from a banker about the rapidly improving state of the economy, one who was prepared to say Wow! I might have imagined that if it really was a true Wow moment that they might have picked a name that British readers were more familiar with, An HSBC, Lloyds or similar, we can therefore deduce that it wasn't really a Wow moment at all.

[mccw]

CM

The whole uk banking system and house hold spending and therefore wider economy is reliant of the health of the housing market; the government knows this, hence the policy. So I think it is in the nations interests; so long as they don't let it get out of control but with proper credit checks it should be fine and not end up like the US debacle. Other policies could be brought in to increase affordability with out damaging the wider market; such as scrapping the EU lead over regulation of building standards/ CO2 green bla bla bla- allowing cheaper houses to be built for first time buyers or part ownership schemes.

(Disclaimer- I recognise I could be wrong and the whole thing blow up, but that could happen anyway.)

We agree entirely on the first part of what you wrote, I'm not certain however whether a better way forward might be a complete change by hitting the reset button, that would be in the best interests of the majority of the population although not the establishement.

A big reset would likely destroy the middle classes; wider economy because spend/ service sector collapses as well, so mass unemployment, middle class destroyed and the cash rich super upper class would by everything setting the clock back 200years to a nation of Landed elite and tenant workers. The state would be broken from lack of taxes and huge benefit claims.

The current policy more serves the majority at the expense of affordability for new buyers. Much better than the alternative.

Support for first time buyers with soft loans without creating a huge frenzied bubble is a happy balance. If they can pull it off.

[mccw]

""""The Bank of England plans to keep the base rate of interest at its record low level until unemployment falls to 7% - unlikely for another three years.

The announcement was made by new governor, Mark Carney, at his first Inflation Report news conference where he outlined sweeping changes to monetary policy in a bid to provide more clarity to the public and financial markets.

The bank said it would keep the base rate at 0.5% unless inflation threatened to spiral out of control or there was a danger to financial stability.

Policymakers said they stood ready to buy more government bonds if additional stimulus was needed and would not reverse existing purchases while unemployment was too high.

It meant there would be no scaling back on the bank's £375bn programme of quantitative easing (QE) for at least three years.

""""

-sky news app

[AnotherOneAmerican]

48.6 now, heading for 50!

[Bluemoon66]

Just two words, thirty five (plus or minus 10%)

According to the gospel of 'chiang mai' three weeks ago.

mmmmm . . . .

[nong38]

You mean you've never heard of Berenberg Bank?

WOW!!

Neither have I, seem to have made my way without this gem so I think I will live without them still.

[mccw]

48.6 now, heading for 50!

Not in the practical world.

http://www.bangkokbank.com/BangkokBank/BusinessBanking/SMEs/OperatingAccounts/ForeignCurrencyAccount/Pages/defaultFXRate.aspx

Still- I do hope it holds or goes higher over then next few months at least

[nong38]

It seems that there is a bit of good hope around GBPLC in the last few days then the new BOE gov tells everyone that interest rates stay at 0.5% until unemployment falls below 7%, a bit like joining the Euro when certain conditions were met. That statement of MC's has I think undone all the optimism and I cannot see the rate going over 48 GBP to the BT, hope I am wrong but I urge caution, lets hope for more but not expect it, gone down against the Euro today.

[Bluemoon66]

As fine a bank as Berenberg Bank might be I confess to not having heard of it, despite having worked in banking and in the City for some years, I never heard nor saw the name once. But no big deal, I'm certain there are others out there in the same boat.

I am amazed at this statement. As a Canadian i am very fortunate that i have dealt with Berenburg Bank for many years and i can tell you one thing, when you see a quote from a spokesman from this bank you had better listen.

I suggest you do some homework on Berenburg Bank for your future education, there'll be a test later.

[chiang mai]

Just two words, thirty five (plus or minus 10%)

According to the gospel of 'chiang mai' three weeks ago.

mmmmm . . . .

Please don't tell me that you went out and bet your shirt on the basis of my guess, I'd feel really really bad if that was the case, I don't think I'd be able to live with the guilt and the repsonsibility of it all.

BTW, what was your guess, my experienced but critical friend?

[Bluemoon66]

As fine a bank as Berenberg Bank might be I confess to not having heard of it, despite having worked in banking and in the City for some years, I never heard nor saw the name once. But no big deal, I'm certain there are others out there in the same boat.

I am amazed at this statement. As a Canadian i am very fortunate that i have dealt with Berenburg Bank for many years and i can tell you one thing, when you see a quote from a spokesman from this bank you had better listen.

I suggest you do some homework on Berenburg Bank for your future education, there'll be a test later.

[Bluemoon66]

Just two words, thirty five (plus or minus 10%)

According to the gospel of 'chiang mai' three weeks ago.

mmmmm . . . .

Please don't tell me that you went out and bet your shirt on the basis of my guess, I'd feel really really bad if that was the case, I don't think I'd be able to live with the guilt and the repsonsibility of it all.

BTW, what was your guess, my experienced but critical friend?

Sorry but i don't guess on anything - i pay other people to do that.

[chiang mai]

Just two words, thirty five (plus or minus 10%)

According to the gospel of 'chiang mai' three weeks ago.

mmmmm . . . .

Please don't tell me that you went out and bet your shirt on the basis of my guess, I'd feel really really bad if that was the case, I don't think I'd be able to live with the guilt and the repsonsibility of it all.

BTW, what was your guess, my experienced but critical friend?

Sorry but i don't guess on anything - i pay other people to do that.

In which case you will understand that any advice (or guess as some refer to it) is only good in context and is only valid at the time it is given, not three weeks later for example! But in fact my guess of 35 comes from this forum dated six years ago when GBP was falling against USD and still not a month passes where some idiot body says hey CM, you said blah blah blah. Well yes indeed I did, when GBP/USD was 75 and falling I did indeed call 35 but sadly it only made it to 43, what more can be said.

[AnotherOneAmerican]

Just two words, thirty five (plus or minus 10%)

According to the gospel of 'chiang mai' three weeks ago.

mmmmm . . . .

Please don't tell me that you went out and bet your shirt on the basis of my guess, I'd feel really really bad if that was the case, I don't think I'd be able to live with the guilt and the repsonsibility of it all.

BTW, what was your guess, my experienced but critical friend?

And when you were betting 35, I was betting 50.

Which one of us is closer now?

[cardholder]

In which case you will understand that any advice (or guess as some refer to it) is only good in context and is only valid at the time it is given, not three weeks later for example! But in fact my guess of 35 comes from this forum dated six years ago when GBP was falling against USD and still not a month passes where some idiot body says hey CM, you said blah blah blah. Well yes indeed I did, when GBP/USD was 75 and falling I did indeed call 35 but sadly it only made it to 43, what more can be said.

It could be said that you are overly-cautious and opt for the worse-case scenarios.

It means that at some point on a recessionary economic cycle you can say "I told you so".

[chiang mai]

Just two words, thirty five (plus or minus 10%)

According to the gospel of 'chiang mai' three weeks ago.

mmmmm . . . .

Please don't tell me that you went out and bet your shirt on the basis of my guess, I'd feel really really bad if that was the case, I don't think I'd be able to live with the guilt and the repsonsibility of it all.

BTW, what was your guess, my experienced but critical friend?

And when you were betting 35, I was betting 50.

Which one of us is closer now?

I don't think I have ever heard anything so utterly stupid in my life before! That wager was then, this is now, would you like to make another wager with me? Or are you forever going to think that bet lives on, year after bloody year until such time as it reaches 50 and you can jump up and cry, I win, <deleted>!

[chiang mai]

In which case you will understand that any advice (or guess as some refer to it) is only good in context and is only valid at the time it is given, not three weeks later for example! But in fact my guess of 35 comes from this forum dated six years ago when GBP was falling against USD and still not a month passes where some idiot body says hey CM, you said blah blah blah. Well yes indeed I did, when GBP/USD was 75 and falling I did indeed call 35 but sadly it only made it to 43, what more can be said.

It could be said that you are overly-cautious and opt for the worse-case scenarios.

It means that at some point on a recessionary economic cycle you can say "I told you so".

Trust me when I say that my bet of 35 died six years ago, it's other posters who keep raising it and reminding me of it and thinking it's still a valid bet for some bizzare reason, the previous post is an example.

[AnotherOneAmerican]

I don't think I have ever heard anything so utterly stupid in my life before! That wager was then, this is now, would you like to make another wager with me? Or are you forever going to think that bet lives on, year after bloody year until such time as it reaches 50 and you can jump up and cry, I win, <deleted>!

If it reaches 35 first, I'm happy for you to jump up and shout 'I win'.

But if it reaches 50 first .............

[chiang mai]

I don't think I have ever heard anything so utterly stupid in my life before! That wager was then, this is now, would you like to make another wager with me? Or are you forever going to think that bet lives on, year after bloody year until such time as it reaches 50 and you can jump up and cry, I win, <deleted>!

If it reaches 35 first, I'm happy for you to jump up and shout 'I win'.

But if it reaches 50 first .............

Like I sais, you've lost the plot, Tommo!

[mccw]

48.2 on Bangkok bank TT.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

[chiang mai]

48.2 on Bangkok bank TT.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

A sudden improvement by about 25 baht on news that one member of the MPC raised concerns over one of three criteria for future rate increases, it goes to show just how senstive markets are that they will jump at the slightest hint of the smallest shadow:

http://www.telegraph.co.uk/finance/bank-of-england/10241750/Split-over-Mark-Carneys-new-interest-rate-plan.html,

Once again the bottom line is that fundamentals remain the same, as soon as market froth settles, again, it'll be back to the previous downwards trend thus no reason to get excited is my personal view.

[mccw]

48.2 on Bangkok bank TT.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

A sudden improvement by about 25 baht on news that one member of the MPC raised concerns over one of three criteria for future rate increases, it goes to show just how senstive markets are that they will jump at the slightest hint of the smallest shadow:

http://www.telegraph.co.uk/finance/bank-of-england/10241750/Split-over-Mark-Carneys-new-interest-rate-plan.html,

Once again the bottom line is that fundamentals remain the same, as soon as market froth settles, again, it'll be back to the previous downwards trend thus no reason to get excited is my personal view.

25 stang I presume you mean? Certainly not 25bht; that would be incredible.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

Not much change really. Maybe these 47-48 levels will hold until some firm new of further £ QE. Perhapse even a little strengthening if positive economic news keeps flowing in before hand.on the other hand there are multiple other events to consider.

[mccw]

This little snippet from a sky biz app piece about tax collection:

""""

"In fact HMRC already collects 99% of all taxes and duties which are collectible from a very wide customer base of 60 million taxpayers, increasing our tax take by £1.4bn to £475.6bn in the last year alone - on average we collect £1.3bn a day for the UK."

""""

That's a lot of money/ tax ; "wow" I thought, really UK can't be so bad off if we can collectively be paying such a huge number in tax year after year. But then I thought- yet the national debt keeps rising and so this number although massive is not enough obviously. But with such wealth its a wonder a proper reform of the NHS and benefits system couldn't bring us back to living with in our means. Such reforms shouldn't disrupt the economy too much. Just a political head ache.

[chiang mai]

48.2 on Bangkok bank TT.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

A sudden improvement by about 25 baht on news that one member of the MPC raised concerns over one of three criteria for future rate increases, it goes to show just how senstive markets are that they will jump at the slightest hint of the smallest shadow:

http://www.telegraph.co.uk/finance/bank-of-england/10241750/Split-over-Mark-Carneys-new-interest-rate-plan.html,

Once again the bottom line is that fundamentals remain the same, as soon as market froth settles, again, it'll be back to the previous downwards trend thus no reason to get excited is my personal view.

25 stang I presume you mean? Certainly not 25bht; that would be incredible.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

Not much change really. Maybe these 47-48 levels will hold until some firm new of further £ QE. Perhapse even a little strengthening if positive economic news keeps flowing in before hand.on the other hand there are multiple other events to consider.

Er, um, yes, satamg not baht, apologies.

[chiang mai]

48.2 on Bangkok bank TT.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

A sudden improvement by about 25 baht on news that one member of the MPC raised concerns over one of three criteria for future rate increases, it goes to show just how senstive markets are that they will jump at the slightest hint of the smallest shadow:

http://www.telegraph.co.uk/finance/bank-of-england/10241750/Split-over-Mark-Carneys-new-interest-rate-plan.html,

Once again the bottom line is that fundamentals remain the same, as soon as market froth settles, again, it'll be back to the previous downwards trend thus no reason to get excited is my personal view.

25 stang I presume you mean? Certainly not 25bht; that would be incredible.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

Not much change really. Maybe these 47-48 levels will hold until some firm new of further £ QE. Perhapse even a little strengthening if positive economic news keeps flowing in before hand.on the other hand there are multiple other events to consider.

It's looking increasingly likely that more QE is on the cards, the markets seem to have ignored Carney's forward guidance and have priced in a rate rise for 2015 and two year gilts are up. It looks like the strategy should be to buy baht soon and to buy Pounds later, the question once again is, how low will the Pound go.

Edited August 14, 2013 by chiang mai

[yoshiwara]

48.2 on Bangkok bank TT.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

A sudden improvement by about 25 baht on news that one member of the MPC raised concerns over one of three criteria for future rate increases, it goes to show just how senstive markets are that they will jump at the slightest hint of the smallest shadow:

http://www.telegraph.co.uk/finance/bank-of-england/10241750/Split-over-Mark-Carneys-new-interest-rate-plan.html,

Once again the bottom line is that fundamentals remain the same, as soon as market froth settles, again, it'll be back to the previous downwards trend thus no reason to get excited is my personal view.

25 stang I presume you mean? Certainly not 25bht; that would be incredible.

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

Not much change really. Maybe these 47-48 levels will hold until some firm new of further £ QE. Perhapse even a little strengthening if positive economic news keeps flowing in before hand.on the other hand there are multiple other events to consider.

It's looking increasingly likely that more QE is on the cards, the markets seem to have ignored Carney's forward guidance and have priced in a rate rise for 2015 and two year gilts are up. It looks like the strategy should be to buy baht soon and to buy Pounds later, the question once again is, how low will the Pound go.

No they are not ignoring Carney at all.

[i claudius]

Not ignoring maybe ,but thinking along different lines

Edited August 15, 2013 by i claudius

[yoshiwara]

Not ignoring maybe ,but thinking along different lines

Well they would wouldn't they?

[RAZZELL]

Creeping up - nearly 50.

http://www.superrichthailand.com/new/exchange.html

RAZZ

Edited August 16, 2013 by RAZZELL