BV70 Posted January 9, 2015 Share Posted January 9, 2015 News of a decline in the euro and virtual crash of the rouble appears to have taken attention away from the declining value of sterling against the thai baht. Sterling appears to be in free fall, declining from 55b/£ to around 48b today. I'm no currency expert but I'm hoping for advice from anyone with a bit of knowledge of the exchange markets in regards to whether to hold on to the sterling I've brought into Thailand and wait for an improvement, or bite the bullet and cash in now. Link to comment Share on other sites More sharing options...
CharlieH Posted January 9, 2015 Share Posted January 9, 2015 Wrong forum MOVED TO BANKING Link to comment Share on other sites More sharing options...
MJP Posted January 9, 2015 Share Posted January 9, 2015 49.83 spot of this moment. Seems to be stabilising. It does this from time to time. I "did" Thailand when it was 75.75, so don't bother looking much these days. 1 Link to comment Share on other sites More sharing options...
chiang mai Posted January 9, 2015 Share Posted January 9, 2015 What, GBP/THB in decline, who'd have thunk it! Link to comment Share on other sites More sharing options...
Cambodger Posted January 9, 2015 Share Posted January 9, 2015 It has fallen a bit. However most of the hit has come from the rising US dollar which the baht is pegged to. Link to comment Share on other sites More sharing options...
Popular Post chiang mai Posted January 9, 2015 Popular Post Share Posted January 9, 2015 It has fallen a bit. However most of the hit has come from the rising US dollar which the baht is pegged to. THB is not pegged to any other currency. 3 Link to comment Share on other sites More sharing options...
MJP Posted January 9, 2015 Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. Link to comment Share on other sites More sharing options...
Popular Post Mister Fixit Posted January 9, 2015 Popular Post Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? 5 Link to comment Share on other sites More sharing options...
MJP Posted January 9, 2015 Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? 50/50, although the majority of my living costs are in LOS. Exports will ultimately keep paying the pensions. See the big picture. 1 Link to comment Share on other sites More sharing options...
Popular Post i claudius Posted January 9, 2015 Popular Post Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? 50/50, although the majority of my living costs are in LOS. Exports will ultimately keep paying the pensions. See the big picture. Yea right . in the meantime many pensioners here go without , you are a bright spark arnt you. 3 Link to comment Share on other sites More sharing options...
Popular Post MJP Posted January 9, 2015 Popular Post Share Posted January 9, 2015 (edited) With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? 50/50, although the majority of my living costs are in LOS. Exports will ultimately keep paying the pensions. See the big picture. Yea right . in the meantime many pensioners here go without , you are a bright spark arnt you. Pensioners? At least you get pensions. Without a functioning British economy you'll soon find the old pensh grinds to a halt. A weaker Pound will help rebalance the UK economy away from BS to actually doing something of value, hence the pensions will keep getting paid. Perhaps it was a bad idea to base your retirement abroad on a high value of the Pound? I've known quite a few "bright sparks" who did that. Edited January 9, 2015 by MJP 4 Link to comment Share on other sites More sharing options...
rgs2001uk Posted January 9, 2015 Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? As one who lives here, I remember the days of 36/38 to the pound, anything over 40 is a bonus to me. I will concede our Johnny come lately 75+ brigade may have screwed up. From what I remember going back 20+ years, Thailand, was not, is not and will not be a place to retire for those of limited means. As for someone who lives here, yeah I think its great, it means my next house in the UK will be cheaper in baht terms. 1 Link to comment Share on other sites More sharing options...
rgs2001uk Posted January 9, 2015 Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? 50/50, although the majority of my living costs are in LOS. Exports will ultimately keep paying the pensions. See the big picture. Yea right . in the meantime many pensioners here go without , you are a bright spark arnt you. Please tell me in what way are they going without, back in jolly old blighty, free healthcare and the pound is still worth a pound. Or are you referring to the Bobs your uncle types who rawked up in Pattaya circa 1999/2000, the same ones who were heard saying its only Mickey Mouse money? 1 Link to comment Share on other sites More sharing options...
MJP Posted January 9, 2015 Share Posted January 9, 2015 With the now low oil price I hope the Pound absolutely goes to the wall. Much better for British exports. And much worse for British ex-pats. I assume you don't actually live here ...? As one who lives here, I remember the days of 36/38 to the pound, anything over 40 is a bonus to me. I will concede our Johnny come lately 75+ brigade may have screwed up. From what I remember going back 20+ years, Thailand, was not, is not and will not be a place to retire for those of limited means. As for someone who lives here, yeah I think its great, it means my next house in the UK will be cheaper in baht terms. It's called reality, RG. That and a lesson in "the World does not owe me a living through currency hegemony". 1 Link to comment Share on other sites More sharing options...
ExPratt Posted January 9, 2015 Share Posted January 9, 2015 Baht is doing ok , my money is mainly in Ringitt and they have gone from 9.9 baht for 1 Ringitt to 9.2 in about 3 months Link to comment Share on other sites More sharing options...
BigBadGeordie Posted January 9, 2015 Share Posted January 9, 2015 Baht is doing ok , my money is mainly in Ringitt and they have gone from 9.9 baht for 1 Ringitt to 9.2 in about 3 monthsWell good for you, smug effer. 1 Link to comment Share on other sites More sharing options...
Popular Post i claudius Posted January 9, 2015 Popular Post Share Posted January 9, 2015 For myself I have no problem. We have a home a car land and quite a bit of cash,but what of the poorer guy's who do not have our safety net,to the ones who want the pound to tank,shame on you 4 Link to comment Share on other sites More sharing options...
Popular Post el jefe Posted January 9, 2015 Popular Post Share Posted January 9, 2015 For myself I have no problem. We have a home a car land and quite a bit of cash,but what of the poorer guy's who do not have our safety net,to the ones who want the pound to tank,shame on you If they're living here and their savings are in baht, they'll do fine. if they have no savings, who's fault is that? They can always go back "home" and live better there, right? It's hard to feel sorry for people who never saw the need to save, thought they could take advantage of cheaper living costs elsewhere, and hoped that exchange rates would never go against them. 3 Link to comment Share on other sites More sharing options...
i claudius Posted January 9, 2015 Share Posted January 9, 2015 Not all are financially savy, and never had a chance to save ,many if they lived in the UK would still end up cold and hungry in a bedsit,better here warm and able to eat hard to take money away from them don't ya think 2 Link to comment Share on other sites More sharing options...
Suradit69 Posted January 9, 2015 Share Posted January 9, 2015 For myself I have no problem. We have a home a car land and quite a bit of cash,but what of the poorer guy's who do not have our safety net,to the ones who want the pound to tank,shame on you Yes, for those who were just barely making the Baht 65,000 a month (in Euros or GBP) to support their applications for annual extensions based on retirement, when they next apply they'll likely fall below that amount ... and of course aside from that, trips to the supermarket seem to be getting progressively more expensive in baht terms regardless of the benign official inflation reports. Heard someone on CNBC predicting the Euro was heading for parity (again) with the US $, especially with concerns about the Greek exit and Germany's reluctance to prop everyone else up. These things tend to be cyclical, but they can still be devastatingly painful in the meantime. High dollar rates generally are one of the downward pressures on gold prices, all the more so in dollar into baht into gold terms. Probably a good idea if you get dollar income to buy more, cheaper baht and use some of that to buy cheaper gold. When the dollar trends down again, gold MIGHT rise in both dollar and baht terms, so cashing out of gold MIGHT then be a nice hedge against a future lower dollar/baht exchange rate. Link to comment Share on other sites More sharing options...
Popular Post Pib Posted January 9, 2015 Popular Post Share Posted January 9, 2015 The Baht/Pound exchange rate over the last 4 years has been pretty flat plus or minus a few baht...take a look at below XE.com graph. People get too wrapped up in short term variations. And forgot about the days of over 70 baht to the pound...that was 10 years ago...the world changes. 3 Link to comment Share on other sites More sharing options...
MJP Posted January 9, 2015 Share Posted January 9, 2015 For myself I have no problem. We have a home a car land and quite a bit of cash,but what of the poorer guy's who do not have our safety net,to the ones who want the pound to tank,shame on you Do you not understand what some of us are saying? If the British economy does not rebalance and start to trade in the black it will go bust at some point and there will be no pensions at all. Part of that rebalancing is dependent on manufacturing industry export growth, which requires a weaker Pound to enable competitive advantage. 1 Link to comment Share on other sites More sharing options...
Popular Post rgs2001uk Posted January 9, 2015 Popular Post Share Posted January 9, 2015 For myself I have no problem. We have a home a car land and quite a bit of cash,but what of the poorer guy's who do not have our safety net,to the ones who want the pound to tank,shame on you Just as a matter of interest, as one who isnt anywhere near retirement age, how much are you paying each year for medical insurnance? As for the poorer guys, do you mean the mugs paying their mai chao 75k baht per month to live with them, or do you mean those of us in normal relationships with wifes who work and contribute? I want the pond to tank to boost my self made pension, I invest in UK properties, why shouldnt I want it to tank? I wasnt daft enough to come here and rely on a 15 and a tanner pension from jolly old blighty, any occupational pensions I MAY get are viewed as nothing more than a bonus. Failing to prepare is preparing to fail. For the poorer guys, buy a one way ticket back to blighty, not my family, not my problem. Some of these old guys have a effin chip on their shoulder, called a sense of entitlement. 3 Link to comment Share on other sites More sharing options...
SheungWan Posted January 9, 2015 Share Posted January 9, 2015 It is quite irrelevant what exchange rate people want as part of their venting pet economic theories. It makes no difference to the actual rate. With regards to the current decline from near 55, well yes we are approaching a 10% drop from that, but then it wasn't that long ago we were looking south from 44 so shortish term there can be volatility. Of course if GBPTHB lurches down further to 45 some people may find themselves in difficulty trying to cope. That is inevitable. Wishing a counter trend up or down is pointless. 1 Link to comment Share on other sites More sharing options...
MJP Posted January 9, 2015 Share Posted January 9, 2015 Link to comment Share on other sites More sharing options...
wooloomooloo Posted January 9, 2015 Share Posted January 9, 2015 No need, really. Link to comment Share on other sites More sharing options...
vento Posted January 10, 2015 Share Posted January 10, 2015 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> Baht is doing ok , my money is mainly in Ringitt and they have gone from 9.9 baht for 1 Ringitt to 9.2 in about 3 monthsWell good for you, smug effer. I take it, you didnt understand what he was writing? Link to comment Share on other sites More sharing options...
BigBadGeordie Posted January 10, 2015 Share Posted January 10, 2015 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> Baht is doing ok , my money is mainly in Ringitt and they have gone from 9.9 baht for 1 Ringitt to 9.2 in about 3 monthsWell good for you, smug effer. I take it, you didnt understand what he was writing? Yup he has lost 70 satang per Ringit over a 3 month period. And your next point is? Link to comment Share on other sites More sharing options...
KittenKong Posted January 10, 2015 Share Posted January 10, 2015 It has fallen a bit. However most of the hit has come from the rising US dollar which the baht is pegged to. THB is not pegged to any other currency. Of course it's entirely coincidental that the THB happens to track the USD very closely, while other internationally traded major currencies go up and down against the USD like yo-yos. 1 Link to comment Share on other sites More sharing options...
rickirs Posted January 10, 2015 Share Posted January 10, 2015 Convert your GBP into THB. As long as you use THB for domestically manufactured or grown products you'll not experience further depreciation. Unless you have serious connections, stay away from real estate. Link to comment Share on other sites More sharing options...
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