Lowest Rate I Ever Got For Pound

[rocky123]

Got off plane from UK today and had to change money for taxi got 42 .3 owch. Was 75 when I started my new life here 8 years ago. Do you see it getting worse ? getting near my retirement min income and have to renew soon.

[OMGImInPattaya]

Sorry to say but the land of Drake, Newton, Darwin and other intellectual, business, and political leaders too numerous to mention is really in a funk right now. I blame the socialist labour party and the unions for making the British economy inefficiency and an expensive place to produce anything. I mean, when was the last time I purchased anything made in the UK other than a box of tea...I can't remember. Things were better when the lady who wasn't for turning was in charge

[transam]

Sorry to say but the land of Drake, Newton, Darwin and other intellectual, business, and political leaders too numerous to mention is really in a funk right now. I blame the socialist labour party and the unions for making the British economy inefficiency and an expensive place to produce anything. I mean, when was the last time I purchased anything made in the UK other than a box of tea...I can't remember. Things were better when the lady who wasn't for turning was in charge

Naaaaaaaaaaaah, our manufacturing was given to the Chinese to make more cash for the likes of Mrs.T and put the work force out to graze.

[pinfold]

Only a blip,think it went up a bit late this afternoon. Most people will have some slack in their money stock,just hold your breath for a bit. seems odd when a country like Thailand with a BBB rating can have strong Baht against the pound aa1. Think same thing happened years ago Baht at 38 ,next month down to 97.for a week or so

[marinediscoking]

The exchange rate was really bad here back in the 90's. After the Asian financial crisis all western currencies sky-rocketed and the baht crashed. People who have only experienced thailand after that need some perspective. Now the western economies are in the shit*er so thus is their currencies.

The Thai unemployment rate is under 1% so the economy is strong. We may never see that situation again unless like is was in good old days of 1998 to 2004.

I am glad I am earning baht now.

[OMGImInPattaya]

The exchange rate was really bad here back in the 90's. After the Asian financial crisis all western currencies sky-rocketed and the baht crashed. People who have only experienced thailand after that need some perspective. Now the western economies are in the shit*er so thus is their currencies.

The Thai unemployment rate is under 1% so the economy is strong. We may never see that situation again unless like is was in good old days of 1998 to 2004.

I am glad I am earning baht now.

Plus the strong baht keeps the prices of imported stuff (like oil and gas) and my favorite foodstuffs in check.

[maxman71]

Only a blip,think it went up a bit late this afternoon. Most people will have some slack in their money stock,just hold your breath for a bit. seems odd when a country like Thailand with a BBB rating can have strong Baht against the pound aa1. Think same thing happened years ago Baht at 38 ,next month down to 97.for a week or so

With all its' political warts, BBB rating, etc., Thailand has a real economy based on a variety of value-added sectors: manufacturing and agriculture being the most valuable as well as tourism. Thailand is experiencing a good growth period and hence demand for their currency. Also, many investors are looking to developing countries to invest, and Thailand is among the top on their lists, further increasing demand for the baht.

I note that while the USD has been experiencing an uptrend against many western currencies lately, it is near it's multi-year low against the baht.

The Thai banking system maintains cash reserves of about 20% of deposits, far higher than most western banks. So despite the BBB rating, Thai banks could be viewed as safer in some respects.

I agree with a previous poster that a lot of this currency debasement in the UK, US, etc. can be attributed to socialist governments and unions and the belief that they can print their way to prosperity. A true Fool's Errand if there ever was one.

[maxman71]

The exchange rate was really bad here back in the 90's. After the Asian financial crisis all western currencies sky-rocketed and the baht crashed. People who have only experienced thailand after that need some perspective. Now the western economies are in the shit*er so thus is their currencies.

The Thai unemployment rate is under 1% so the economy is strong. We may never see that situation again unless like is was in good old days of 1998 to 2004.

I am glad I am earning baht now.

Agreed fully. I moved here 8 years ago, set up a Thai Co. to run a consulting biz, which has been one of the best endeavors of my life. When I first moved here and transferred USD to THB to set up bank accounts, etc., it was 41 THB/1 USD. My biz has done well and my US clients pay my Thai Co in Thai baht. While I do get a bit nervous sometimes with the large amount (for me anyway) that I have deposited in Thai banks, it sure has paid off so far. For the USD and Pound, it's a race to the bottom...

[Spalpeen]

The UK and other western governments keep printing more money, so it's hardly surprising that this waters down the value of the currency. It's the ultimate stealth tax. Since interest rates in the west can't get any lower, and governments that cut spending don't get re-elected, you can be sure that there will be a lot more money printing.

Meanwhile, the money they print is handed to big banks who immediately ship it out to places like Thailand where they can invest it at a higher rate of return.

[SGD]

Every thread like this has folk saying they'll wait until it comes back, as though it was some sort of comet or swing going back and forth. Anyone waiting for 75 will be long dead as I fear will anyone waiting for 60, which was the median calculation figure for a generation. In fact, waiting for 50 to reappear could see you expiring first and the pre 1997 crisis of 40 to the £ and 25 to the $ look likely next resistance levels.

From over 70 in the mid 2000s to around 40 today, coupled with high inflation across tourist items, I say that Thailand costs around 3 x as much as it did back then and around 2 x as much as it used to using less extreme values.

A night in a JW Marriott hotel in central London can routinely be had cheaper than a night in a JW Marriott hotel in Bangkok. The same goes for a whole plethora of things which were once so much cheaper in Thailand than now.

[Neeranam]

When I came here in Oct 92, I got 37 baht to the pound.

I'm no bread head but don't all currencies have like 10 year cycles?

I suggest accepting that you had it very good in the past and it has come back to normal. It will go up and down again.

[rgs2001uk]

If you were getting 75 eight years ago consider yourself lucky.

Thailand, is not, was not and will never be a cheap place for those on a limited income to retire/relocate to.

I remember 36,37 and 38 baht to the pommie pound, I will wager we will see 40 before we ever see 50 again, in fact I will wager we will see 35 before we ever see 60 again.

Read post #10 above, he is spot on.

[SidJames]

The UK government are driving sterling down & it may well go to 35. This is not a blip & it eats into the UK debt mountain without any real changes on internal policy.

They hope it will also drive up UK exports which will only happen in the short term as the country doesn't actually make that much anymore besides which any growth is hampered by higher fuel costs (dollars) & crippling labour laws & costs.

There is an ageing indigenous population together with an extremely expensive & failing public health service combined with a benefits culture & a deluge of illegals that are also being maintained by the state.

It costs a fortune for the governments there to pacify the liberal middle classes who seem unaware of the issues that they have helped to create.

Beautiful countryside, clean air & beaches. London has history, culture & entainment in abundance plus great sport.

[breadbin]

I think it'll hit 40 this month, maybe 39.

As already said, LoS is not cheap anymore, those days are long gone and LoS has cottoned on to making money from mass tourism.

People will keep coming but those living and depending on a good exchange rate are now buggered.

Two choices, stay and tough it out if you can or leave if you can.

For me, on a selfish note I want the GBP to THB to be under 40.

As I say purely selfish reasons and I reckon I'll see that by end March latest.

[meatballs]

Can't believe these exchange rates are not hurting Pattaya. I'm sure we'll see some (farang ) bar/restaurant closures in due time. Of course the 3rd world mass package tourists will keep coming farang or no.

[tropo]

Can't believe these exchange rates are not hurting Pattaya. I'm sure we'll see some (farang ) bar/restaurant closures in due time. Of course the 3rd world mass package tourists will keep coming farang or no.

I don't think British tourists are much of a force here anymore.

Check out the Russian Ruble. They dropped from around 1.45 THB/RUB to under 1.0 THB in 2008/2009, and their numbers are going through the roof. Despite what's going on with the GBP, Pattaya is still good value for money for many nationalities.

Are Russians considered "Farang"? They'll be opening new restaurants as fast as British establishments close.

[Denizen]

I think it'll hit 40 this month, maybe 39.

As already said, LoS is not cheap anymore, those days are long gone and LoS has cottoned on to making money from mass tourism.

People will keep coming but those living and depending on a good exchange rate are now buggered.

Two choices, stay and tough it out if you can or leave if you can.

For me, on a selfish note I want the GBP to THB to be under 40.

As I say purely selfish reasons and I reckon I'll see that by end March latest.

Can't believe these exchange rates are not hurting Pattaya. I'm sure we'll see some (farang ) bar/restaurant closures in due time. Of course the 3rd world mass package tourists will keep coming farang or no.

Western expats will give up clothes, accommodation and food in that order before they cut back on beer and women.

[billd766]

The thing that I fail to understand with all these super expat financial gurus in Thailand is that none of them are willing to predict wat the rates will be in 3 months, 6 months or a years time.

I mean a really firm guaranteed 100% forecast published on TVF and visited in July, October and January next year and how many of them will be £ or $ millionaires by then.

Who would have predicted in 2005 what the rate would be today?

These are the rates from 2000 to 2005 and 2006 to 2010takenfrom the TT rate of KBank.

5 year trend 2000 to 2004.xls

5 year trend 2005 to 2010.xls

[marinediscoking]

I will make the prediction the thai baht will still be strong in 5 years from now. Asian countries put in place harsh banking reforms after their crash. Except for Japan they (asian) governments did not try to spend their way out it and recovered fairly quickly and have little or no debt.

Now look at the USA and most of Europe, they took a different approach and their economies are still at the bottom of the ocean along with their currencies.

Unless those countries pay down their tremendous debts and deficits and stop printing money the thai bath will stay close to it current level for some time to come. It doesn't a super expat financial guru to figure this out...just common sense.

[pinfold]

I will make the prediction the thai baht will still be strong in 5 years from now. Asian countries put in place harsh banking reforms after their crash. Except for Japan they (asian) governments did not try to spend their way out it and recovered fairly quickly and have little or no debt.

Now look at the USA and most of Europe, they took a different approach and their economies are still at the bottom of the ocean along with their currencies.

Unless those countries pay down their tremendous debts and deficits and stop printing money the thai bath will stay close to it current level for some time to come. It doesn't a super expat financial guru to figure this out...just common sense.

Do not agree,Thailand is going to get thrashed in the not too distant future. Already the Thai govt. is struggling to make up for promises on the first rice crop,never mind second and subsequent crops,the fuel subsidy is so out of kilter its hard to see how its sustained. Tourism will be down without a doubt,exports will be increasing expensive. There are other problems developing too,plus the resentment of the poor Thai population seeing the elite get the rewards when they are ground onto the floor. The 300 Baht a day is an insult

[clip]

hey rocky consider yourself lucky ! we in north america jump for joy when the baht hits 30 to the dollar!!!!!! 42??? YOU LUCKY SODS LOL

[jbrain]

I will make the prediction the thai baht will still be strong in 5 years from now. Asian countries put in place harsh banking reforms after their crash. Except for Japan they (asian) governments did not try to spend their way out it and recovered fairly quickly and have little or no debt.

Now look at the USA and most of Europe, they took a different approach and their economies are still at the bottom of the ocean along with their currencies.

Unless those countries pay down their tremendous debts and deficits and stop printing money the thai bath will stay close to it current level for some time to come. It doesn't a super expat financial guru to figure this out...just common sense.

Do not agree,Thailand is going to get thrashed in the not too distant future. Already the Thai govt. is struggling to make up for promises on the first rice crop,never mind second and subsequent crops,the fuel subsidy is so out of kilter its hard to see how its sustained. Tourism will be down without a doubt,exports will be increasing expensive. There are other problems developing too,plus the resentment of the poor Thai population seeing the elite get the rewards when they are ground onto the floor. The 300 Baht a day is an insult

Thailand is going to get thrashed in the not too distant future.

Make that the most part of Asia, with China as the front leader. They got big from their exports to Europe and US, but when it get's cheaper to produce better quality at home, they will sink as fast as they rose.

[fasteddie]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

[maxman71]

Every thread like this has folk saying they'll wait until it comes back, as though it was some sort of comet or swing going back and forth. Anyone waiting for 75 will be long dead as I fear will anyone waiting for 60, which was the median calculation figure for a generation. In fact, waiting for 50 to reappear could see you expiring first and the pre 1997 crisis of 40 to the £ and 25 to the $ look likely next resistance levels.

From over 70 in the mid 2000s to around 40 today, coupled with high inflation across tourist items, I say that Thailand costs around 3 x as much as it did back then and around 2 x as much as it used to using less extreme values.

A night in a JW Marriott hotel in central London can routinely be had cheaper than a night in a JW Marriott hotel in Bangkok. The same goes for a whole plethora of things which were once so much cheaper in Thailand than now.

Agreed...25THB/1USD is the long term (maybe 1-3 years?) target. I wish I could say I forecasted this nearly 8 years ago when I moved a good chunk of USD's to Thailand for purposes of getting set up, visas, setting up a Thai Co., etc...back then it was 41THB/1USD. Just lucky timing on that one. I did however, forecast the '08 debt crash in the US back in late '04/early '05 and sold my house in California and got completely out of debt before I moved to LOS. To not only survive, but also prosper, one must get knowledgeable as best as they can about what is REALLY going in the world in terms who's really in control, avoid the puppet mainstream media and make decisions accordingly. We are witnessing a wholesale remake of the world as most of us have known it.

[Denizen]

I will make the prediction the thai baht will still be strong in 5 years from now. Asian countries put in place harsh banking reforms after their crash. Except for Japan they (asian) governments did not try to spend their way out it and recovered fairly quickly and have little or no debt.

Now look at the USA and most of Europe, they took a different approach and their economies are still at the bottom of the ocean along with their currencies.

Unless those countries pay down their tremendous debts and deficits and stop printing money the thai bath will stay close to it current level for some time to come. It doesn't a super expat financial guru to figure this out...just common sense.

Do not agree,Thailand is going to get thrashed in the not too distant future. Already the Thai govt. is struggling to make up for promises on the first rice crop,never mind second and subsequent crops,the fuel subsidy is so out of kilter its hard to see how its sustained. Tourism will be down without a doubt,exports will be increasing expensive. There are other problems developing too,plus the resentment of the poor Thai population seeing the elite get the rewards when they are ground onto the floor. The 300 Baht a day is an insult

Thailand is going to get thrashed in the not too distant future.

Make that the most part of Asia, with China as the front leader. They got big from their exports to Europe and US, but when it get's cheaper to produce better quality at home, they will sink as fast as they rose.

USA, UK and Europe have been living beyond their means for years financed by the countries with positive trade balances. Wealth and wages have been declining in real terms for years and will continue to do so. The middle classes of USA, UK and Europe are suffering a decline of their status, home ownership, wealth and financial aspirations and are facing the reality that welfare and superannuation savings are insufficient to support them in their retirement.

Asian economies are rising as exemplified by their GDP growth rates.

Sun rises in the East and sets in the West.

[thenervoussurgeon]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

She certainly did not despise the working classes ,but she did hate the fact most did not want to work for a fair wage and spent half the time on strike ,thats why the manufacturers left ,to go where the workforce actually worked ,she may have done much wrong ,but by God she made us proud to be British again .

[Denizen]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

She certainly did not despise the working classes ,but she did hate the fact most did not want to work for a fair wage and spent half the time on strike ,thats why the manufacturers left ,to go where the workforce actually worked ,she may have done much wrong ,but by God she made us proud to be British again .

The Falklands war was a huge expense to UK and the ongoing support of Falklands people and sheep is costing huge money annually. Pride has a cost.

[jbrain]

I will make the prediction the thai baht will still be strong in 5 years from now. Asian countries put in place harsh banking reforms after their crash. Except for Japan they (asian) governments did not try to spend their way out it and recovered fairly quickly and have little or no debt.

Now look at the USA and most of Europe, they took a different approach and their economies are still at the bottom of the ocean along with their currencies.

Unless those countries pay down their tremendous debts and deficits and stop printing money the thai bath will stay close to it current level for some time to come. It doesn't a super expat financial guru to figure this out...just common sense.

Do not agree,Thailand is going to get thrashed in the not too distant future. Already the Thai govt. is struggling to make up for promises on the first rice crop,never mind second and subsequent crops,the fuel subsidy is so out of kilter its hard to see how its sustained. Tourism will be down without a doubt,exports will be increasing expensive. There are other problems developing too,plus the resentment of the poor Thai population seeing the elite get the rewards when they are ground onto the floor. The 300 Baht a day is an insult

Thailand is going to get thrashed in the not too distant future.

Make that the most part of Asia, with China as the front leader. They got big from their exports to Europe and US, but when it get's cheaper to produce better quality at home, they will sink as fast as they rose.

USA, UK and Europe have been living beyond their means for years financed by the countries with positive trade balances. Wealth and wages have been declining in real terms for years and will continue to do so. The middle classes of USA, UK and Europe are suffering a decline of their status, home ownership, wealth and financial aspirations and are facing the reality that welfare and superannuation savings are insufficient to support them in their retirement.

Asian economies are rising as exemplified by their GDP growth rates.

Sun rises in the East and sets in the West.

You mean China's fake GDP figures ?

http://www.cnbc.com/id/48279364/Lying_Libor_Is_Nothing_Compared_to_Chinarsquos_Fake_GDP_Report

http://www.scmp.com/news/china/article/1130924/chinese-economist-questions-gdp-growth

[kurnell]

I think I'll buy some pommie pounds when it bottoms out at 30 baht to the dollar

[Denizen]

o not agree,Thailand is going to get thrashed in the not too distant future. Already the Thai govt. is struggling to make up for promises on the first rice crop,never mind second and subsequent crops,the fuel subsidy is so out of kilter its hard to see how its sustained. Tourism will be down without a doubt,exports will be increasing expensive. There are other problems developing too,plus the resentment of the poor Thai population seeing the elite get the rewards when they are ground onto the floor. The 300 Baht a day is an insult

I will make the prediction the thai baht will still be strong in 5 years from now. Asian countries put in place harsh banking reforms after their crash. Except for Japan they (asian) governments did not try to spend their way out it and recovered fairly quickly and have little or no debt.

Now look at the USA and most of Europe, they took a different approach and their economies are still at the bottom of the ocean along with their currencies.

Unless those countries pay down their tremendous debts and deficits and stop printing money the thai bath will stay close to it current level for some time to come. It doesn't a super expat financial guru to figure this out...just common sense.

Thailand is going to get thrashed in the not too distant future.

Make that the most part of Asia, with China as the front leader. They got big from their exports to Europe and US, but when it get's cheaper to produce better quality at home, they will sink as fast as they rose.

USA, UK and Europe have been living beyond their means for years financed by the countries with positive trade balances. Wealth and wages have been declining in real terms for years and will continue to do so. The middle classes of USA, UK and Europe are suffering a decline of their status, home ownership, wealth and financial aspirations and are facing the reality that welfare and superannuation savings are insufficient to support them in their retirement.

Asian economies are rising as exemplified by their GDP growth rates.

Sun rises in the East and sets in the West.

You mean China's fake GDP figures ?

http://www.cnbc.com/id/48279364/Lying_Libor_Is_Nothing_Compared_to_Chinarsquos_Fake_GDP_Report

http://www.scmp.com/news/china/article/1130924/chinese-economist-questions-gdp-growth

Was it prepared by UK economists?