GBP to THB Exchange Rate

[yoshiwara]

Good news for those who invested in Thailand when the Baht was 65 + ...

Hindsight is a wonderful thing...

However Brits primarily exposed to the sterling exchange rate just have to take it on the chin.

For those with savings in sterling it is always about taking a position and doing nothing is just another position and maybe not the place of safety they thought it always was. So what now? Lock in at 45 fearing worse? or wait for a possible over-sold bounce-back?

The one strong argument for changing at 45+ is that once you have done it you will sleep better.

[chiang mai]

I suspect that many will be thinking they've seen this before, these things go in cycles so we'll just sit it out they'll say. That could be the case I suppose except I think this cycle could prove to be a very very long one.

[Naam]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

selling Dollars buying WHAT?

[edwinchester]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

selling Dollars buying WHAT?

Hopes and promises.

[Naam]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

selling Dollars buying WHAT?

Hopes and promises.

[Thailand1977]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

selling Dollars buying WHAT?

Pounds as at some point in the next 18 months i want a home for my daughter to be settled (in England) before school starts, and i've been waiting for the pound to get to this level V the dollar for sometime.

No good having all the gold, silver, THAI BAHT and array of other wonderful investments if you can't keep the rain from your head.

[Naam]

it does not look good

GBP/USD 1.52863

Good enough for selling dollars though.

selling Dollars buying WHAT?

Pounds as at some point in the next 18 months i want a home for my daughter to be settled (in England) before school starts, and i've been waiting for the pound to get to this level V the dollar for sometime.

No good having all the gold, silver, THAI BAHT and array of other wonderful investments if you can't keep the rain from your head.

not everybody has a daughter planning to settle in England

[meatboy]

today could be interesting and with the week end aproaching,

yesterday from 8.30am-12.35 the gbp.lost 20satang,

the euro lost 9satang vs. the th.bht.

this morn.3am.the euro is down 1.5cents vs gbp.

so we might see the euro below 39 vs bht.

so where's the gbp.goner be anyone guess.

[meatboy]

the tide was in,then it went out it has now come back in.

gbp was 45.20in,45.00out,on its way back in 45.19.

euro is in slack water,39.32 gone out 39.06.

start of play 8.30am.

could be a tsumani on the way.

[chiang mai]

I don't agree MB, this this morning from Jeremy Warner in the Daily Torygraph:

"the sell-off we have seen in the pound
may or may not help the competitiveness of British goods, but it could
easily turn into a full-blown rout if foreign investors start to lose faith
in the value of sterling assets. This would force a steep rise in interest
rates, a fiscal crisis and another deep recession".

he makes a very valid point.

http://www.telegraph.co.uk/finance/financialcrisis/9886000/The-Bank-of-England-cant-just-go-on-doing-down-the-pound.html

Edited February 22, 2013 by chiang mai

[meatboy]

yes cm the tide has only covered my toes its got a long way to go to reach my waist if its to go over it.but the euro well i dont think there will be any paddling for a while.

[yoshiwara]

I don't agree MB, this this morning from Jeremy Warner in the Daily Torygraph:

"the sell-off we have seen in the pound

may or may not help the competitiveness of British goods, but it could

easily turn into a full-blown rout if foreign investors start to lose faith

in the value of sterling assets. This would force a steep rise in interest

rates, a fiscal crisis and another deep recession".

he makes a very valid point.

http://www.telegraph.co.uk/finance/financialcrisis/9886000/The-Bank-of-England-cant-just-go-on-doing-down-the-pound.html

Will the price of stair-lifts go up?

[chiang mai]

I don't agree MB, this this morning from Jeremy Warner in the Daily Torygraph:

"the sell-off we have seen in the pound

may or may not help the competitiveness of British goods, but it could

easily turn into a full-blown rout if foreign investors start to lose faith

in the value of sterling assets. This would force a steep rise in interest

rates, a fiscal crisis and another deep recession".

he makes a very valid point.

http://www.telegraph.co.uk/finance/financialcrisis/9886000/The-Bank-of-England-cant-just-go-on-doing-down-the-pound.html

Will the price of stair-lifts go up?

Buy chair lift futures now I say.

[nong38]

The writing has been on the wall for a while. For example . . .

The Guardian, January 23:

Economists believe that policymakers in the UK are still talking down sterling but that getting the slide to happen without undue haste was crucial. If sterling keeps falling at its current pace then Cook predicts a "slow crisis". But a sudden fall of 5% or 6% from current levels of $1.5860 and €1.19 (to $1.49 and €1.11) could be a cause for alarm. A currency price of €1.19 is the equivalent to around 84p to the euro.

The pound is not just tanking against the baht, but against most currencies. The opposite happens to be true for the baht.

Confidence and foreign investment are flowing out of the UK (even the City brothel is looking less appealing to its international patrons, faced with at least some regulation of their more excessive behaviour) and into expanding economies - such as Thailand.

Sterling has lost the Battle of the Uglies against the Euro and the US dollar and is rapidly losing its reputation as a safe haven.

That's why the pound is being allowed to plummet. If this ploy fails to bring a much-needed boost to the ailing UK economy, the next step will be an official overnight devaluation.

This would mean losing not merely a couple of baht off your pound over a few weeks, but probably ten or 15 percent of its value at a stroke.

And this is one asteroid you won't see coming - because it will happen over a weekend or during a bank holiday, to ensure savers can't withdraw their money before a big chunk of it is stolen. (If we did, of course, the banks we've already bailed out once would be back with the begging bowl!}

I reckon Easter could be particularly memorable this year.

Can you post a link for that, I was looking for it and couldn't see it, I wanted to see who the author was and the context?

I saw a similar report in MONEYWEEK a couple of days ago you could look there, it was under "where are interest rates going" or similar.

[Naam]

The writing has been on the wall for a while. For example . . .

The Guardian, January 23:

Economists believe that policymakers in the UK are still talking down sterling but that getting the slide to happen without undue haste was crucial. If sterling keeps falling at its current pace then Cook predicts a "slow crisis". But a sudden fall of 5% or 6% from current levels of $1.5860 and €1.19 (to $1.49 and €1.11) could be a cause for alarm. A currency price of €1.19 is the equivalent to around 84p to the euro.

The pound is not just tanking against the baht, but against most currencies. The opposite happens to be true for the baht.

Confidence and foreign investment are flowing out of the UK (even the City brothel is looking less appealing to its international patrons, faced with at least some regulation of their more excessive behaviour) and into expanding economies - such as Thailand.

Sterling has lost the Battle of the Uglies against the Euro and the US dollar and is rapidly losing its reputation as a safe haven.

That's why the pound is being allowed to plummet. If this ploy fails to bring a much-needed boost to the ailing UK economy, the next step will be an official overnight devaluation.

This would mean losing not merely a couple of baht off your pound over a few weeks, but probably ten or 15 percent of its value at a stroke.

And this is one asteroid you won't see coming - because it will happen over a weekend or during a bank holiday, to ensure savers can't withdraw their money before a big chunk of it is stolen. (If we did, of course, the banks we've already bailed out once would be back with the begging bowl!}

I reckon Easter could be particularly memorable this year.

Can you post a link for that, I was looking for it and couldn't see it, I wanted to see who the author was and the context?

I saw a similar report in MONEYWEEK a couple of days ago you could look there, it was under "where are interest rates going" or similar.

and there will be unseen horror. the slave girls you were lusting after will rebel and strip you of your precious clothing and jewelry, your wife will elope with your batman to a remote island with the embezzled savings in the cookie jar, the ATMs will cut your debit and credit cards and spit them out in little pieces, your neighbour will suddenly hold the title deed of your home in his name, your bankers will say "what assets are you talking about?" and worst of all... your dogs will pee in your shoes.

[chiang mai]

A tad early for the port is it not Mr Naam!

[Naam]

A tad early for the port is it not Mr Naam!

not yet. i'm waiting for friends to arrive in a few minutes. till then i will sit dry.

[Thailand1977]

I don't agree MB, this this morning from Jeremy Warner in the Daily Torygraph:

"the sell-off we have seen in the pound

may or may not help the competitiveness of British goods, but it could

easily turn into a full-blown rout if foreign investors start to lose faith

in the value of sterling assets. This would force a steep rise in interest

rates, a fiscal crisis and another deep recession".

he makes a very valid point.

http://www.telegraph.co.uk/finance/financialcrisis/9886000/The-Bank-of-England-cant-just-go-on-doing-down-the-pound.html

A rise in interest rates is exactly what is needed to kill off those on the life support we don't need to borrow anymore, let the economy crash and then get things moving again.

Most the poster on the Torygraph forum, despise the Tory party, it needs renaming.

[mccw]

I was about to use my UK credit card at home pro today, fortunately they showed me the rate it would of changed at first; 43.4 bht to the pound. I think this is what the UK bank exchange = rather than anything to do with the store . I decided not to be lazy and walked down to take cash from bkb instead. With the foreign transaction fee + poor exchange would of equaled about 100 quid bump

[Thailand1977]

The fun finally starts.

http://www.telegraph.co.uk/finance/economics/9889410/Britains-credit-rating-downgraded-from-AAA-to-Aa1.html

[meatboy]

The fun finally starts.

http://www.telegraph.co.uk/finance/economics/9889410/Britains-credit-rating-downgraded-from-AAA-to-Aa1.html

yep i saw that this morning.never had a credit card in my life only a debit.so i have still got my AAA rating,it will be interesting to see how thailand treats credit card holders.

tourists cash only

[Thailand1977]

The fun finally starts.

http://www.telegraph.co.uk/finance/economics/9889410/Britains-credit-rating-downgraded-from-AAA-to-Aa1.html

yep i saw that this morning.never had a credit card in my life only a debit.so i have still got my AAA rating,it will be interesting to see how thailand treats credit card holders.

tourists cash only

Unfortunately the govt. has a credit card, and politicians are all persuasions (except UKIP) seem to think that by borrowing more money on the credit card to pay off the growing interest payments that eventually this will fix the economy.

And if this doesn't work Ed Balls and the Labour Party propose to borrow twice as much as the Tory party as this will definitely fix the economy.

Now i left school at 15 with a solitary C grade in GCSE Maths, so maybe i'm just too thick to see how their schemes are going to work, and it breaks my heart to see so called economic journalists on BBC/SKY/Channel 4 not telling these nation wreckers the blatantly obvious.

On a positive note its good to see this downgrade happen on Merves watch as he has truly earned it.

Edited February 23, 2013 by Thailand1977

[wooloomooloo]

meatboy, unless you have some other form of credit for which you settle your obligations on time then you haven't got an AAA rating - you've no rating and deemed not creditworthy.

[meatboy]

meatboy, unless you have some other form of credit for which you settle your obligations on time then you haven't got an AAA rating - you've no rating and deemed not creditworthy.

i dont need any other form of credit if i havnt got the money i dont buy it,simple as that.

[yoshiwara]

I don't agree MB, this this morning from Jeremy Warner in the Daily Torygraph:

"the sell-off we have seen in the pound

may or may not help the competitiveness of British goods, but it could

easily turn into a full-blown rout if foreign investors start to lose faith

in the value of sterling assets. This would force a steep rise in interest

rates, a fiscal crisis and another deep recession".

he makes a very valid point.

http://www.telegraph.co.uk/finance/financialcrisis/9886000/The-Bank-of-England-cant-just-go-on-doing-down-the-pound.html

A rise in interest rates is exactly what is needed to kill off those on the life support we don't need to borrow anymore, let the economy crash and then get things moving again.

Most the poster on the Torygraph forum, despise the Tory party, it needs renaming.

said a spokesman from the Daily Very Silly newspaper.

[nong38]

Today I was reading an interesting article on the UK economic crisis, how it developed and where its going, its worth a look but be forewarned the pitch is to get you signed for the magazine at a discount. Moneyweek is an excellent magazine used to take it every week in the UK, so go and have a look at this......www.moneyweek.com scroll down and look on the left hand side to "END OF BRITAIN"

[mccw]

Today I was reading an interesting article on the UK economic crisis, how it developed and where its going, its worth a look but be forewarned the pitch is to get you signed for the magazine at a discount. Moneyweek is an excellent magazine used to take it every week in the UK, so go and have a look at this......www.moneyweek.com scroll down and look on the left hand side to "END OF BRITAIN"

Regarding the article. Completely agree with the highlighted spending/ debt problem but I don't see interest rates going up. They are already basically creating money to buy thier own debt. 60% of all new UK debt and 80% in USA at last count. So interest rates will be kept manipulated low; 100% of gov debt will be bought by themselves or in deals between the monetising nations ie USA JAPAN UK and EURO zone. The money of all will loose value over time and inflation of essentials rise while real economy stagnates and eventually collapses under the weight of the spiraling inflation. Could happen very fast or spread over next couple of decades, but by the maths the trajectory is clear.

[mccw]

http://bbc.co.uk/news/business-21518538

[Thailand1977]

http://www.xe.com/

Down to 1.5077 vs the USD (44.88 v THB) at the time of posting ... if only i'd waited another 2 days it'd be 200 pound more in my pocket.

Irony is i read many experts views on what would happen to the pound last week and not one was mentioning this! (though in hindsight it was obvious)

[chiang mai]

I expected to see more gnashing of teeth this morning, perhaps it's still early yet, anyone care to wager where GBP will end the day?