GBP - THB exchange rates

[chiang mai]

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.

USD/THB has swung from 29 to 33, that's not exactly tracking and certainly isn't a peg!

[IMA_FARANG]

Typical "sell on the rumor, but buy on the fact" psychology.

In other words those that can may want to get out of GBP and find some other currency to "shelter: in.

Possible problems that MAY affect the GBP include:

• Greek elections may affect the Euro and problems with the Euro MAY feed over to the pound.
• Elections coming up in the U.K. soon. Currency markets don't like uncertainty.
• Referendum possible on U.K. exit from EU. Again uncertainty.

Personally, I myself, don't think any of these will affect the pound ...... but the "worry-warts" might be talking the pound down.

But, as I said, the "sell" psychology operates on rumors much more than facts.

[alfieconn]

It has fallen a bit. However most of the hit has come from the rising US dollar which the baht is pegged to.

Not sure if that's totally correct Cb, lower growth, interest rates staying lower for longer, election coming up, all reasons for a lower pound !

[Naam]

USDTHB

EURTHB

GBPTHB

AUDTHB

SGDTHB

MYRTHB

JPYTHB

RUBTHB

[chiang mai]

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.

A good idea but it's a concept that is too far ahead of its time for most TV members.

[meatboy]

and in the meantime the RICHTER SCALE is showing we are on shakey ground.

the THAI BAHT is about to be swallowed up,or should that be down.

[i claudius]

and in the meantime the RICHTER SCALE is showing we are on shakey ground.

the THAI BAHT is about to be swallowed up,or should that be down.

Please explain ,

signed nice but dim.

[KittenKong]

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.

USD/THB has swung from 29 to 33, that's not exactly tracking and certainly isn't a peg!

A 10% variation is nothing compared to the leaps and bounds of other currencies, even the major trading currencies. Also, with few exceptions, the THB moves fairly steadily over time unlike those other currencies.

[KittenKong]

USDTHB

EURTHB

GBPTHB

AUDTHB

SGDTHB

MYRTHB

JPYTHB

RUBTHB

Comparisons between graphs that dont all show the entire scale from zero to max are largely meaningless. But you are not alone as the media and politicians and salesmen regularly show the same misleading information.

[chiang mai]

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.

USD/THB has swung from 29 to 33, that's not exactly tracking and certainly isn't a peg!

A 10% variation is nothing compared to the leaps and bounds of other currencies, even the major trading currencies. Also, with few exceptions, the THB moves fairly steadily over time unlike those other currencies.

By that definition a stable exchange rate is a sign of a well managed economy.

And whilst there is no official currency peg, I do agree that the value of THB is influenced from time to time, the falling foreign currency reserves point to that.

Edited January 11, 2015 by chiang mai

[Naam]

USDTHB

EURTHB

GBPTHB

AUDTHB

SGDTHB

MYRTHB

JPYTHB

RUBTHB

Comparisons between graphs that dont all show the entire scale from zero to max are largely meaningless. But you are not alone as the media and politicians and salesmen regularly show the same misleading information.

if somebody can't make comparisons with the naked eye, then the usual answer is "reading glasses".

my comment on "y-scale zero to max" is held back because it might violate forum rules.

[KittenKong]

By that definition a stable exchange rate is a sign of a well managed economy.

That depends on what the desired result is.

[KittenKong]

Comparisons between graphs that dont all show the entire scale from zero to max are largely meaningless. But you are not alone as the media and politicians and salesmen regularly show the same misleading information.

if somebody can't make comparisons with the naked eye, then the usual answer is "reading glasses".

A stupid comment. In order to glean any useful information from a comparison of those graphs one has to do a mental calculation regarding the scales. Why not just post proper and complete graphs that can be directly compared with each other? So much easier all round.

[chiang mai]

By that definition a stable exchange rate is a sign of a well managed economy.

That depends on what the desired result is.

I'm fairly certain the BOT strategy on exchange rates is similar to that of government policy on petrol prices, stability at the consumer point of sale, insofar as it can be achieved. Contrast that approach with say the UK or other Western countries where swings and round abouts over time make for a consumer/business rollercoaster.

[Pib]

Comparisons between graphs that dont all show the entire scale from zero to max are largely meaningless. But you are not alone as the media and politicians and salesmen regularly show the same misleading information.

if somebody can't make comparisons with the naked eye, then the usual answer is "reading glasses".

A stupid comment. In order to glean any useful information from a comparison of those graphs one has to do a mental calculation regarding the scales. Why not just post proper and complete graphs that can be directly compared with each other? So much easier all round.

I think the charts were provided in response to an earlier comment of, "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."

If so, I think the charts do an excellent job in showing the yo-yo effect on "all" the currencies compared in the charts to include the THB/USD yo-yo. More than enough of the scale was shown to prevent the need for mental calculations (at least in my brain)...easy and quick to understand.

[KittenKong]

I think the charts were provided in response to an earlier comment of, "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."

If so, I think the charts do an excellent job in showing the yo-yo effect on "all" the currencies compared in the charts to include the THB/USD yo-yo. More than enough of the scale was shown to prevent the need for mental calculations (at least in my brain)...easy and quick to understand.

I think comparisons between graphs with different scales are always pointless and misleading. To compare sensibly, let's use proper graphs showing movements over the last 40 years and from zero to maximum.

Anything else is just manipulation.

[Pib]

I think the charts were provided in response to an earlier comment of, "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."

If so, I think the charts do an excellent job in showing the yo-yo effect on "all" the currencies compared in the charts to include the THB/USD yo-yo. More than enough of the scale was shown to prevent the need for mental calculations (at least in my brain)...easy and quick to understand.

I think comparisons between graphs with different scales are always pointless and misleading. To compare sensibly, let's use proper graphs showing movements over the last 40 years and from zero to maximum.

Anything else is just manipulation.

To each his own in what type of charts, data, and timeframe they want to see, but if you go back 40 years on the THB/USB exchange rate you'll see it has ranged/yo-yo'ed from around 20 to 55 baht. The baht was in the low to mid 20 baht ballpark for many years with two devaluations in the early part of that 40 year window...and you had the late '90s Thai financial crisis which caused it to peak above 50 and range within 40 to 50 baht for around 5 years...then it started coming down again to primarily around the 30 to 33 baht ballpark for the last 5 years or so and which I think is it new baseline range.

I wouldn't want to be using 40 year old data for a THB/USD comparison (or at least give much emphasis to data older than 5 to 10 years) because too many major financial adjustments/events have occurred inside and outside of Thailand causing a new baseline to be established.

[Naam]

Comparisons between graphs that dont all show the entire scale from zero to max are largely meaningless. But you are not alone as the media and politicians and salesmen regularly show the same misleading information.

if somebody can't make comparisons with the naked eye, then the usual answer is "reading glasses".

A stupid comment. In order to glean any useful information from a comparison of those graphs one has to do a mental calculation regarding the scales. Why not just post proper and complete graphs that can be directly compared with each other? So much easier all round.

"stupid" it is a matter of perspective and depends mainly on available brain power. some people possess the latter, some don't. life's a bitch

[Naam]

To each his own in what type of charts, data, and timeframe they want to see, but if you go back 40 years on the THB/USB exchange rate you'll see it has ranged/yo-yo'ed from around 20 to 55 baht. The baht was in the low to mid 20 baht ballpark for many years with two devaluations in the early part of that 40 year window...and you had the late '90s Thai financial crisis which caused it to peak above 50 and range within 40 to 50 baht for around 5 years...then it started coming down again to primarily around the 30 to 33 baht ballpark for the last 5 years or so and which I think is it new baseline range.

I wouldn't want to be using 40 year old data for a THB/USD comparison (or at least give much emphasis to data older than 5 to 10 years) because too many major financial adjustments/events have occurred inside and outside of Thailand causing a new baseline to be established.

KittenKong:

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.

but wouldn't 40 years show how "very closely THB happens to track USD" Pib?

aren't the teenie weenie fluctuations of USDTHB 20 in early 1985 then 55 in early 1998 and 29 in 2013 hard evidence to justify "closely tracking"?

p.s. one of my dogs (who tracks Thaivisa financial discussions on his iPad) just came and asked "this closely tracker chap... is he real?"

[Loles]

Oh dear ...

[i claudius]

p.s. one of my dogs (who tracks Thaivisa financial discussions on his iPad) just came and asked "this closely tracker chap... is he real?"

Naam ,you have conversations with your dog? you do know that he is not really talking dont you old chap? still ,its good to have a friend

[KittenKong]

p.s. one of my dogs (who tracks Thaivisa financial discussions on his iPad) just came and asked "this closely tracker chap... is he real?"

Your dog sounds like a bright boy.

Maybe you should ask him for some advice about bank deposit rates in Thailand. You could do with his help on that subject too.

http://www.thaivisa.com/forum/topic/790123-using-fixed-deposit-account-for-retirement-visa-warning/page-3#entry8925823

[Naam]

p.s. one of my dogs (who tracks Thaivisa financial discussions on his iPad) just came and asked "this closely tracker chap... is he real?"

Your dog sounds like a bright boy.

Maybe you should ask him for some advice about bank deposit rates in Thailand. You could do with his help on that subject too.

http://www.thaivisa.com/forum/topic/790123-using-fixed-deposit-account-for-retirement-visa-warning/page-3#entry8925823

obviously i was wrong with my claim "Thai bank no 3%" and that teaches me a lesson not to engage in topics which are irrelevant for me such as interest rates Thai banks pay.