SWEDISH CROWN FALL 32 % against THB in the last few months. WHEN IS THAT GOING TO STOP ?

[Alfa]

I wonder if anybody can answer why the Swedish crown falling down so much against THB ?

Last year , not many months ago , it was nearly 6 THB . Now is down to 3,96 THB. Last week it was 4,04.

And it's falling everyday. Swedish government doesn't care , actually nobody care. Swedish banks give you 0 % interest. Of course everybody empty their account and put the money on some business instead.

The new Swedish government has no experience to do something about it. They take their wages every month and go home and sleep well. They don't care about the Swedish retired peoples problems abroad when SEK is not strong any more. I lost 1/3 of my retired monthly salary since then. It's many thousands of bahts .

Now I can't live as I lived before. I have to be very careful with the money to survive here.

I want to live here because I get used to live in warmer climate.

IF THE MONEY GO DOWN 32 % MORE , THAN IT'S CAOS.... THERE IS NO WAY TO SURVIVE HERE.

Now 1 SEK is 3.96 THB .. If the SEK becomes 2,70 THB, I have to go back to Sweden and ask for help from the social to survive and start freezing , and have only boiled potatoes to survive, because I can not start working again when I am nearly 80 years old.

DO YOU THINK THIS FALLING GOING TO STOP ONE DAY , OR GOING ON UNTIL 1 SEK IS 2 THB ????

I will be very glad to here some good news from you all.

As I don't have many years to live.

still CHEERS

[AyG]

Your memory is playing tricks. It was never near 6. The peak at the beginning of last year was around 5.1.

At the end of 2008 it was lower than now - around 3.9.

Exchange rates fluctuate, and a movement of 30% in one year is hardly a rare event. It's something everyone living in Thailand on a pension or on their investment income needs to take into account.

If you're seeking an opinion on what direction the exchange rate is going to move now, I suggest you post in the Investment forum here - http://www.thaivisa.com/forum/forum/13-jobs-economy-banking-business-investments/

[mramazing]

The current exchange rate is around 4,02, you're likely looking at some exchange office's rate where a fee is deducted. It has not changed by 32% in the last few months... Looking one year back you get around 20% less THB for your SEK. Mostly because the Swedish Riksbank is trying to tackle deflation by zero interest rate and talking about negative interest rate or even quantitative easing (which failed in the US). At the same time, the Thai central bank cost of money is around 2% last time I checked.

Since tourism contributes 15% to Thailands GDP and the export sector makes up around 70-80%, it is clearly in Thailands interest to have weak currency and the PM has talked about ways to weaken it.

Hopefully, the stronger USD will kick up import prices in Sweden and thereby the inflation which would force the Riksbank to raise the interest rate. That will increase the SEK again. Fundamentally, there are no dark clouds in the Swedish economy other than the lack of housing. GDP Q3 2014 was 2,1% and 2015 is estimated at 2,3% by KI.

In the early 90's the SEK/THB exchange rate was 2,90. But that was before the Asian crisis in 97. I highly doubt we're going there again. If you're having trouble financing your stay (or regarding your retirement visa), have a look at surrounding countries. For example, the SEK to Malaysian Ringit (MYR) exchange rate has only been affected by 10-15% in the past year.

As a sidenote, if central banks can't fight inflation in a global economy, what's the point of having them?

Here is a thread in Swedish that might interest you:
http://www.thailandsforum.se/forum/valutakursen-2015-t13639.html

Edited January 18, 2015 by mramazing

[Harrykrabi]

Its far from only you. Similar dips in exchange rate have impacted on many Europeans living in the LOS on a pension. The happy days of 70 plus baht to the pound have gone. I doubt it will reappear. British pensioners receive amongst the lowest state pensions Worldwide. I think they're about third from the bottom. Now the dimwitted Cameron wishes to penalise them further by removing their tax free allowance thus reducing pensions even further by an average of 2000 GBP each year per pensioner. Its an outrage considering expats don't use any of the services provided free for them back home by virtue of their seniority.

Many of my local friends are now cutting back on expenditure just to survive. I never thought this was what old age was meant to be. But as you rightly say most governments don't care, ex pats are the forgotten ones because they are out of sight and very much out of mind.

Maybe instead of posting on forums like this, aggrieved pensioners living abroad should form into pressure groups to lobby their governments by any and all means possible towards changing things. One quiet voice means nothing but there must be millions of expats around the World and those sorts of numbers must make a difference.

[Alfa]

to mramazing

Thanks for the information about Thailandsforum in Swedish, as I didn't know anything about it.

Jag uppskattar verkligen. appreciate.

It looks like we have to live with this until 2018, than maybe SEK goes up to 4,50.

No one knows when does that change. If you knew it you get a Nobel Prize and 36 million THB. But you probably earn more money from the business you make by selling your knowledge.

[MrY]

to mramazing

Thanks for the information about Thailandsforum in Swedish, as I didn't know anything about it.

Jag uppskattar verkligen. appreciate.

It looks like we have to live with this until 2018, than maybe SEK goes up to 4,50.

No one knows when does that change. If you knew it you get a Nobel Prize and 36 million THB. But you probably earn more money from the business you make by selling your knowledge.

Well, it was predicted, and the guy who predicted it did get a Nobel Prize...

http://www.nytimes.com/2014/04/21/opinion/krugman-sweden-turns-japanese.html

...and unlike what amazing believes, it was because of a rate hike that the recovery fell apart. Here's a follow-up...

http://krugman.blogs.nytimes.com/2014/07/05/swedish-sadomonetarist-setback/

..and a chart to confirm the timing of event. (It's for USD, but the Krona is in freefall against all currencies.

http://www.xe.com/currencycharts/?from=SEK&to=USD&view=1Y

[recycler]

Don't try the Russian Ruble....

In the mean time Thailand is getting more and more expensive even if you earn Baht, I know what you feel!

[abrahamzvi]

The current exchange rate is around 4,02, you're likely looking at some exchange office's rate where a fee is deducted. It has not changed by 32% in the last few months... Looking one year back you get around 20% less THB for your SEK. Mostly because the Swedish Riksbank is trying to tackle deflation by zero interest rate and talking about negative interest rate or even quantitative easing (which failed in the US). At the same time, the Thai central bank cost of money is around 2% last time I checked.

Since tourism contributes 15% to Thailands GDP and the export sector makes up around 70-80%, it is clearly in Thailands interest to have weak currency and the PM has talked about ways to weaken it.

Hopefully, the stronger USD will kick up import prices in Sweden and thereby the inflation which would force the Riksbank to raise the interest rate. That will increase the SEK again. Fundamentally, there are no dark clouds in the Swedish economy other than the lack of housing. GDP Q3 2014 was 2,1% and 2015 is estimated at 2,3% by KI.

In the early 90's the SEK/THB exchange rate was 2,90. But that was before the Asian crisis in 97. I highly doubt we're going there again. If you're having trouble financing your stay (or regarding your retirement visa), have a look at surrounding countries. For example, the SEK to Malaysian Ringit (MYR) exchange rate has only been affected by 10-15% in the past year.

As a sidenote, if central banks can't fight inflation in a global economy, what's the point of having them?

Here is a thread in Swedish that might interest you:

http://www.thailandsforum.se/forum/valutakursen-2015-t13639.html

As a whole you are well informed, but you are wrong when saying that quantitative easing failed in the US. If one looks at the speedy recovery of the US economy and the strength of the US$, one can be grateful mostly to the policies of the Federal Reserve Bank, which included quantitative easing. By the way, it seems to be the way the European Central Bank intends to go in spite of the German objections.

[nithisa78]

Sir, It will turn around. Have faith.

[ocean268]

[solstan]

This is a nice place to check the value against SEK
http://rl.se/valutor

Select THB and 5,10 or 20 years ...

No gambling for me as I have been able to pick 4 real peaks for my trips but as others wrote. It will stabilize eventually.

I do hope that Thailand will lower against the USD as that is what we Swedes are suffering from, low exchange rate against the USD.

[green job]

Quite simple,,, 32% NOT true . Wind up merchant The truth is even thou most of the countrys with brains that are not in the dreded euro,are pulled

down with it.

The whole mascarade has been caused by EU policies.

A big big mistake to try and take on the world wide currency The USD

[whiteman]

Count yourself lucky if you are a New Zealander and if you do not live in N.Z for 6 months a year your pension STOPS and you have to re apply till your next 6 months have accumalated. So all you poms and others that cry poor me you do not know how lucky you are

[Time Traveller]

SEK should probably fall further since it still is one of the most expensive countries in the world on a purchasing parity basis.

[stgrhe]

I find the OP's post to be vastly exaggerated as the exchange rate of SEK vs THB hasn't been 6 THB to the SEK for years. At best it has been about 5 THB per SEK; hence we have seen a depreciation of the SEK vs the THB of about 18%.

[chopin2]

If the floor at 4SEK is broken, i suggest you put on your helmet and prepare for a nasty crash

www.fxtop.com/en/historical-exchange-rates.php?A=1&C1=SEK&C2=THB&MA=1&YA=1&DD1=01&MM1=01&YYYY1=1953&B=1&P=&I=1&DD2=09&MM2=01&YYYY2=2015&btnOK=Go%21

[schietkop]

Only one thing is sure, in the end all fiat currency will be worth 0. Thats a fact:). Lets just hope its not in our lifetime but i think i will see it happen.

[Jimbolai]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Your memory is playing tricks. It was never near 6. The peak at the beginning of last year was around 5.1.

At the end of 2008 it was lower than now - around 3.9.

Exchange rates fluctuate, and a movement of 30% in one year is hardly a rare event. It's something everyone living in Thailand on a pension or on their investment income needs to take into account.

If you're seeking an opinion on what direction the exchange rate is going to move now, I suggest you post in the Investment forum here - http://www.thaivisa.com/forum/forum/13-jobs-economy-banking-business-investments/

This is what google comes up with:

XE: (SEK/USD) Swedish Krona to US Dollar Rate

www.xe.com › XE Currency Converter - Live Rates

• Cached
• Similar

XE.com

Loading...

1 SEK = 0.123369 USD, 1 USD = 8.10579 SEK ... EUR-USD drifted back under 1.1600 after a rebound stalled just shy of 1.1650, and we expect the pair will ...

1US$ = 8.1 SEK

[AlQaholic]

If you are in Pattaya you can always plunge from the 10th floor, it is a very popular solution there.

[starfarm]

Don't worry. The thai baht will soon crash. And more impotant. Transfer money to Thailand when the exchange rate is in your favor.

[khunPer]

Thai baht follows the USDollar rather than Euro and European currencies. Seems like USD Dollar in the near future shall further up against Euro and those European currencies in one-or-other level glued to the Euro; however baht may not follow the whole way up. The decrease of bath against Euro-currencies is about 15 percent during one year. If it’s going reach the level some 10 years back, that was around same level as before the ’97 Thai economy crisis, that means a drop to around 30% down from the level one-year ago – i.e. some 3.25 thb for 1 sek; if the Swedish krone falls further against Euro, then it could be even lower.

Think we are many Europeans and Scandinavians here in LoS concerned about currency exchange rate at the moment , becoming poorer and poorer every day , however the British pound seems to be doing slightly better, floating against the Euro.

[louse1953]

Its far from only you. Similar dips in exchange rate have impacted on many Europeans living in the LOS on a pension. The happy days of 70 plus baht to the pound have gone. I doubt it will reappear. British pensioners receive amongst the lowest state pensions Worldwide. I think they're about third from the bottom. Now the dimwitted Cameron wishes to penalise them further by removing their tax free allowance thus reducing pensions even further by an average of 2000 GBP each year per pensioner. Its an outrage considering expats don't use any of the services provided free for them back home by virtue of their seniority.

Many of my local friends are now cutting back on expenditure just to survive. I never thought this was what old age was meant to be. But as you rightly say most governments don't care, ex pats are the forgotten ones because they are out of sight and very much out of mind.

Maybe instead of posting on forums like this, aggrieved pensioners living abroad should form into pressure groups to lobby their governments by any and all means possible towards changing things. One quiet voice means nothing but there must be millions of expats around the World and those sorts of numbers must make a difference.

[/quote

I have been saying this for a while,get down to your embassy and vote,then they will no you are alive.Write to both main parties in your seat at home and tell them your probs and tell them you will vote accordingly.

[louse1953]

Don't worry. The thai baht will soon crash. And more impotant. Transfer money to Thailand when the exchange rate is in your favor.

Yeah,yeah,yeah,i'd be a millionaire the amount of times i've heard that one.

[balo]

Same with Norwegian KRONE , 6 months ago it was 5.30 THB for 1 NOK , now we only get 4.20 . Bad news for all the retired people living here receiving their hard earned pensions . Lets hope it will turn around soon .

[Ulic]

Canadian dollar, Australian dollar, same same down about 15%. to the USD and Baht.

Oh well less bang for your buck so to speak.

[Berkshire]

Don't worry. The thai baht will soon crash. And more impotant. Transfer money to Thailand when the exchange rate is in your favor.

People have been saying (wishing) this for years and have been consistently wrong. You're no different.

Edited January 20, 2015 by Berkshire

[laolover88]

Come back K. Chavalit. All is forgiven.

[SONNY49]

The current exchange rate is around 4,02, you're likely looking at some exchange office's rate where a fee is deducted. It has not changed by 32% in the last few months... Looking one year back you get around 20% less THB for your SEK. Mostly because the Swedish Riksbank is trying to tackle deflation by zero interest rate and talking about negative interest rate or even quantitative easing (which failed in the US). At the same time, the Thai central bank cost of money is around 2% last time I checked.

Since tourism contributes 15% to Thailands GDP and the export sector makes up around 70-80%, it is clearly in Thailands interest to have weak currency and the PM has talked about ways to weaken it.

Hopefully, the stronger USD will kick up import prices in Sweden and thereby the inflation which would force the Riksbank to raise the interest rate. That will increase the SEK again. Fundamentally, there are no dark clouds in the Swedish economy other than the lack of housing. GDP Q3 2014 was 2,1% and 2015 is estimated at 2,3% by KI.

In the early 90's the SEK/THB exchange rate was 2,90. But that was before the Asian crisis in 97. I highly doubt we're going there again. If you're having trouble financing your stay (or regarding your retirement visa), have a look at surrounding countries. For example, the SEK to Malaysian Ringit (MYR) exchange rate has only been affected by 10-15% in the past year.

As a sidenote, if central banks can't fight inflation in a global economy, what's the point of having them?

Here is a thread in Swedish that might interest you:

http://www.thailandsforum.se/forum/valutakursen-2015-t13639.html

This is my thoughts about present situation: Open a account in SEK in a thaibank if possible, continue with my monthly transfers and convert them if and when the SEK reach a "decent" level. At least I get some interest in the thaibanks, but not in sweden. Invest (locked in) 3 months here have given me around 2,85 %. Have a separate account for healthissues wich gives me 1,5 % and the money are available if I need to pay an expensive hospitalbill. Any thoughts on my speculations will be most appreciated.

[farangmick]

Its far from only you. Similar dips in exchange rate have impacted on many Europeans living in the LOS on a pension. The happy days of 70 plus baht to the pound have gone. I doubt it will reappear. British pensioners receive amongst the lowest state pensions Worldwide. I think they're about third from the bottom. Now the dimwitted Cameron wishes to penalise them further by removing their tax free allowance thus reducing pensions even further by an average of 2000 GBP each year per pensioner. Its an outrage considering expats don't use any of the services provided free for them back home by virtue of their seniority.

Many of my local friends are now cutting back on expenditure just to survive. I never thought this was what old age was meant to be. But as you rightly say most governments don't care, ex pats are the forgotten ones because they are out of sight and very much out of mind.

Maybe instead of posting on forums like this, aggrieved pensioners living abroad should form into pressure groups to lobby their governments by any and all means possible towards changing things. One quiet voice means nothing but there must be millions of expats around the World and those sorts of numbers must make a difference.

Not matter how many millions of Brits live abroad. If you sell up, ship out and are not registered to vote, you do not exist. And it helps the governments net immigration figures.

[oMega69]

My last Year in TH . . . .

Next stop for us on government pension . . is Medellin Colombia . . . 1sek = 290 pesos . . usually over 300 per krona . . . . .

best climate ever ! . . best girls ! . . . better food . . better everything ! ^^

Here we go ! . . .