Record low EUR/THB rate affecting expats?

[Asiantravel]

Yep, It's good news for American. And when the FED starts increasing interests rates, it will just get better.

When you say it will get better do you mean it will get more entertaining to watch the fallout in the global economy?

[Naam]

Is there any hope at all, that Thailand will do something to weaken the baht?

actually they are doing their level best to achieve the contrary.

Who are 'they' and why are they doing that ?

"they" = Bank of Thailand. you have to ask "them" why exactly "they" are doing it.

[konying]

Is there any hope at all, that Thailand will do something to weaken the baht?

They already did.

Bank of Thailand cut rates yesterday. They're not going to trash their currency and deliberately stoke inflation just so a few EU holidaymakers and expats can loosen their belts a little.

The OP's best solution is to just send more euros

Interest cut against all odds did not affect thai baht at all.

Trashing the currency as you put it would be a huge benefit not for few holiday makers but for exports.

I am also certain it would not hurt to bring back the tourist money which also adds up to a few billion not to mention jobs

[Jip99]

Yep, It's good news for American. And when the FED starts increasing interests rates, it will just get better.

That is good - the Pattaya bar girls may be able to see the light at the end of the tunnel.

[stgrhe]

Since Jan 2014 the Swedish krona (SEK) has depriciated 22% compared to the Thai baht and that hurts when the main income comes from Sweden.

[NeverSure]

Yep, It's good news for American. And when the FED starts increasing interests rates, it will just get better.

When you say it will get better do you mean it will get more entertaining to watch the fallout in the global economy?

I know nothing. I don't predict currency fx. I am wondering how the Fed can raise interest rates when the dollar is already strengthening, the US has a trade deficit, and many countries historically have tried to lower the value of currency to keep exports strong. I don't see how it benefits the US to have this strong of a currency other than buying imports.

I only have about a dozen outrageous theories as to why the dollar could be so strong. Time will tell what will happen.

[Kees5555]

one more to the countless topics about the same same...

What does that mean..if there's a earlier discussion of this topic please let me know!

Thanks for your view Costas2008. Actually it's not a question of just a few thousand baht here and there. Some months ago I was getting 20 000 baht more than now so it is quite a significant difference.

About 7 years ago, if I remember well, I was getting 68Baht to a Pound.

Now I'm getting 49Baht.

A difference of 38,000Baht a month.

Has it affected my life style? No

Has it affected your life style? Don't think so.

But it's good to have a moan, especially for something we haven't got any control over it.

come on Costas, be fair. if a retiree's disposable monthly income was THB 500k then 38k less are peanuts. but if the income was 76k the difference will definitely affect the lifestyle.

of course... breeding badgers and producing highly valued badger cheese changes the situation

Well, Costas said it: 38,000 baht less, with a baht rate from 68 to 49 --> His monthly income = 2000 pound, so he went down from 136,000 to 98,000.

This indeed does not have to affect one's lifestyle.

I can live on 40,000 a month thanks to the fact that I own a condo here, no need to pay 15,000 or more rent, so the bad euro rate also does not affect my lifestyle.

[TomYumpoochai]

one more to the countless topics about the same same...

What does that mean..if there's a earlier discussion of this topic please let me know!

Thanks for your view Costas2008. Actually it's not a question of just a few thousand baht here and there. Some months ago I was getting 20 000 baht more than now so it is quite a significant difference.

It means that hes another 1 of these sad pricks (coincidence that his name also says swiss? ) who has nothing better to do than attack everything that other people post.

[TomYumpoochai]

Its as pathetic as the internet speed here.....another 1 min to upload.

Edited March 14, 2015 by TomYumpoochai

[ronwparker]

Many like me are Old Age Pensioners.

Thailand should devalue,

Many have already moved

It would be better for the economy

I built a resort in 2005/6 when it was around 74 vbaht to the Pound

[PattayaPhom]

UKIP

OP taking about Euro, so it would be AfP (Germany) or Front National (France) or SVP (Switzerland) or any other such right-wing party...

UKIP isn't right wing.

[PattayaPhom]

There was an interesting article on Motley a few days age. General concesus is the Euro will be sub 30 before August with no recovery until 2018....90 cents-$US

[micmichd]

It depends on the amount of your income per month.

If you are earning, 100,000 per month a few thousand Baht up or down doesn't make much difference.

For lower incomes again the difference it's not so dramatic as to affect your life in Thailand.

Let's not forget that we had good times before with the baht being low and worst times also.

Exchange rate is a roller coaster and we have to adjust to every time situation.

I can only see a problem with visa requirements, that you have to show a certain amount of income.

But I'm not the best person to speak about that as I'm on retirement visa and I don't need to show an income, but the 800K in the Bank..

[micmichd]

It depends on the amount of your income per month.

If you are earning, 100,000 per month a few thousand Baht up or down doesn't make much difference.

For lower incomes again the difference it's not so dramatic as to affect your life in Thailand.

Let's not forget that we had good times before with the baht being low and worst times also.

Exchange rate is a roller coaster and we have to adjust to every time situation.

I can only see a problem with visa requirements, that you have to show a certain amount of income.

But I'm not the best person to speak about that as I'm on retirement visa and I don't need to show an income, but the 800K in the Bank..

[micmichd]

Might get dramatic if you need a visa based on 60kb pension, and now your EUR pension falls below that limit.

[Pib]

There was an interesting article on Motley a few days age. General concesus is the Euro will be sub 30 before August with no recovery until 2018....90 cents-$US

http://www.marketwatch.com/story/goldman-sachs-slashes-euro-forecast-sees-dollar-parity-by-september-2015-03-13

Goldman Sachs slashes euro forecast, sees dollar parity by September

Published: Mar 13, 2015 9:31 a.m. ET

By

SARASJOLIN

MARKETS REPORTER

LONDON (MarketWatch) -- The euro EURUSD, -1.32% is poised to continue its sharp slide against the dollar and is on track to reach parity with the greenback in September, analysts at Goldman Sachs said on Friday. They downgraded their six-month euro forecast to $1, from $1.10 expected previously. They also slashed the three-month forecast to $1.02 from $1.12, and cut the 12-month outlook to 95 cents from $1.08. By the end of 2017, Goldman analysts see the euro sliding to 80 cents, which would be the lowest ever for the shared currency. "We therefore expect more downside in the near term, with the expected removal of 'patient' at next week's FOMC [meeting] a key catalyst," they said in the note. The euro traded at $1.0575 on Friday, down from $1.0637 late Thursday in New York.

[PattayaPhom]

There was an interesting article on Motley a few days age. General concesus is the Euro will be sub 30 before August with no recovery until 2018....90 cents-$US

http://www.marketwatch.com/story/goldman-sachs-slashes-euro-forecast-sees-dollar-parity-by-september-2015-03-13

Goldman Sachs slashes euro forecast, sees dollar parity by September

Published: Mar 13, 2015 9:31 a.m. ET

By

SARASJOLIN

MARKETS REPORTER

LONDON (MarketWatch) -- The euro EURUSD, -1.32% is poised to continue its sharp slide against the dollar and is on track to reach parity with the greenback in September, analysts at Goldman Sachs said on Friday. They downgraded their six-month euro forecast to $1, from $1.10 expected previously. They also slashed the three-month forecast to $1.02 from $1.12, and cut the 12-month outlook to 95 cents from $1.08. By the end of 2017, Goldman analysts see the euro sliding to 80 cents, which would be the lowest ever for the shared currency. "We therefore expect more downside in the near term, with the expected removal of 'patient' at next week's FOMC [meeting] a key catalyst," they said in the note. The euro traded at $1.0575 on Friday, down from $1.0637 late Thursday in New York.

Yep, similar to the report on Motley, will try find the link. The Euro has been overvalued for years and relatively steady compared to other major currencies depriciations. I think most other nationalities over the past 6 years have had to adjust their lifestyle, its now time for the Europeans, and also the Nordic states are not faring well at present. " Cut your clothe accordingly"

[phutoie2]

There was an interesting article on Motley a few days age. General concesus is the Euro will be sub 30 before August with no recovery until 2018....90 cents-$US

Wow, that if correct will thin out some the weekly market club, Euro crowd.

[micmichd]

There was an interesting article on Motley a few days age. General concesus is the Euro will be sub 30 before August with no recovery until 2018....90 cents-$US

http://www.marketwatch.com/story/goldman-sachs-slashes-euro-forecast-sees-dollar-parity-by-september-2015-03-13

Goldman Sachs slashes euro forecast, sees dollar parity by September

Published: Mar 13, 2015 9:31 a.m. ET

BySARASJOLIN

MARKETS REPORTER

LONDON (MarketWatch) -- The euro EURUSD, -1.32% is poised to continue its sharp slide against the dollar and is on track to reach parity with the greenback in September, analysts at Goldman Sachs said on Friday. They downgraded their six-month euro forecast to $1, from $1.10 expected previously. They also slashed the three-month forecast to $1.02 from $1.12, and cut the 12-month outlook to 95 cents from $1.08. By the end of 2017, Goldman analysts see the euro sliding to 80 cents, which would be the lowest ever for the shared currency. "We therefore expect more downside in the near term, with the expected removal of 'patient' at next week's FOMC [meeting] a key catalyst," they said in the note. The euro traded at $1.0575 on Friday, down from $1.0637 late Thursday in New York.

Yep, similar to the report on Motley, will try find the link. The Euro has been overvalued for years and relatively steady compared to other major currencies depriciations. I think most other nationalities over the past 6 years have had to adjust their lifestyle, its now time for the Europeans, and also the Nordic states are not faring well at present. " Cut your clothe accordingly"

[micmichd]

"Adjust your lifestyle"?

Yes, I came to Thailand to share my lifestyle with a Thai family.

Certainly not to get expropriated by Turbo Capitalism from a dying "nation".

[wonder6281]

The Aussie dollar has dropped 20% over the last 6+months or so. I transfer my Super Pension fortnightly and while I am able to support my family here, pay the house and car and education bills, I have gone from supporting to surviving.

I don't go out drinking, we don't go to Restaurants, we hardly venture anywhere outside of the house even the beach anymore. My Golf is on hold, but we are together and we still eat ok, we are getting through the slump and will come out smarter for having been through the low financial period.

Adjustments had to be made on spending. When this turns around again, and it will, we will enjoy those times and look back at how we survived this period in our lives.

Its only a matter of time before the American Federal Reserve will make the decision to increase interests rates and see the USD go into freefall once their debt ridden society can't pay!

Markets have a way of self correcting the over and under valued.

Its all a game for a few elites and there is nothing that can be done but to be smart in our observations.

If your fortunate enough to not have to worry about exchange rates, then why are you reading and commenting in this thread?

Edited March 14, 2015 by wonder6281

[micmichd]

60 kb per month is maybe enough for a small family, but less is not enough anymore.

Why should I sacrifice the life of a Thai family to a Farang economic crisis?

I'm fully aware where this crisis comes from, and I have no sympathy for those who are taking advantage of it - ever since some US President thought it would be a good idea to finance domestic welfare by an Imperialistic war.

[Derek M]

Actually, I exchanged my Euros last year when it was 44.50 and that was before April. To drop to 34.50 is a big drop. 10,000 Bahts less per 1000 euro income per month.

Does it make a difference? yes I am pretty sure anyone who is down 10,000 bahts per 1,000 Euro/Pounds/US$ exchanged monthly would feel it. To go down further to 30 bahts by August a difference of 15,000 Bahts per 1000 Euro/Pounds/US$ exchanged monthly. If some one is on 3,000$/Euro or GBP monthly, pretty sure they will notice being 30,000 bahts lighter.

At this rate of Decline of the Euro, I don't see it recovering anytime soon, this side of 2020.

Interestingly Enough what made it so high from August 2013 43-45there abouts to April 2014? anyone know?

[wonder6281]

Actually, I exchanged my Euros last year when it was 44.50 and that was before April. To drop to 34.50 is a big drop. 10,000 Bahts less per 1000 euro income per month.

Does it make a difference? yes I am pretty sure anyone who is down 10,000 bahts per 1,000 Euro/Pounds/US$ exchanged monthly would feel it. To go down further to 30 bahts by August a difference of 15,000 Bahts per 1000 Euro/Pounds/US$ exchanged monthly. If some one is on 3,000$/Euro or GBP monthly, pretty sure they will notice being 30,000 bahts lighter.

At this rate of Decline of the Euro, I don't see it recovering anytime soon, this side of 2020.

Interestingly Enough what made it so high from August 2013 43-45there abouts to April 2014? anyone know?

The low USD. Since the USD has strengthened all currencies have been the victim. The USD's high value will not be able to sustain its growth and will devalue bringing other currencies back to the table. 2020, not that long I feel, but 2017 seems a good number.

[PattayaPhom]

"Adjust your lifestyle"?

Yes, I came to Thailand to share my lifestyle with a Thai family.

Certainly not to get expropriated by Turbo Capitalism from a dying "nation".

I would say get your Thai family to adjust their lifestyle. We all know its a fact a very large percentage of guys pay their wife/partner a monthly "salary" plus help "take care family"....well that 20k or 30k a month is now the equivalent of a very nice lifestyle in Europe

[Neeranam]

60 kb per month is maybe enough for a small family, but less is not enough anymore.

Why should I sacrifice the life of a Thai family to a Farang economic crisis?

I'm fully aware where this crisis comes from, and I have no sympathy for those who are taking advantage of it - ever since some US President thought it would be a good idea to finance domestic welfare by an Imperialistic war.

I've looked after my family(2 kids) on 30k a month. Someone is scamming you brother.

Now, I have a mortgage for 20k a month, private school fees and can save off 60k a month.

[Neeranam]

When I came to Thailand it was 25 baht to the $ and 37 to the GBP.

It used to be 8 baht to the $ before WW2.

I am quite happy with the currency exchange. I wasn't happy in 1997 when the baht weakened tremendously - it made a holiday abroad very expensive.

Don't complain that you've had it easy for a few years.

[landslide]

I read an article on Yahoo Finance earlier this week, regarding the exchange rate between the US$ and the Euro. The article said that projections are that the Dollar and the Euro will be at par by the latter part of 2015. Of course, since I read the article, the Euro has dropped from 1.09 to the dollar, to 1.05 today. It went further to project a bottom of .82 Euros to the dollar within 2 years. This is due to both Draghi's project QE and the pending interest rate increases in the US. How this will effect the exchange rate to the Thai Baht remains to be seen.

[TheKnave]

When I came to Thailand it was 25 baht to the $ and 37 to the GBP.

It used to be 8 baht to the $ before WW2.

I am quite happy with the currency exchange. I wasn't happy in 1997 when the baht weakened tremendously - it made a holiday abroad very expensive.

Don't complain that you've had it easy for a few years.

Whoop-de-do.

Feel the hot wind.

[soalbundy]

chomdo

if your are struggling to live on 110,000 a month in Thailand, then you really need to look hard at your life style, come on this is Thailand, where you can eat a meal for 50 baht. A 1000baht a day for food is only 30,000 baht a month, get rid of the expensive condo in Bangkok and the benz.

some Australians, Brits with frozen state pensions and Euro pensioners are on the breadline so to speak. some westeners live in Thailand on the 20,000 baht you have lost

My German pension was paying me 80,000 Baht a month, due to the exchange rate it's down below the 65,000 i need to extend my visa at the end of the year. We have our own house bought and paid for but i send my step daughter to university,my other step daughter still goes to school as does my son,so with insurances,school bills,the normal household bills etc it was never possible to save a nest egg. Apparently the Euro will continue to fall,at the end of 2016 some economists have predicted 1 Euro = 0.84 Dollars.