£ v Baht

[alfieconn]

So what can realistically expect over the next 4-6weeks ?

Thanks

A J

If you need to fix it for, say, purchase of a car etc you can buy 'forward' via your UK bank.

They will apply a premium or discount to the current rate depending on what THEIR crystal ball is telling them.

That is a joke i take it ?

[sandyf]

Pound opened down this morning but soon recovered.

[Naam]

So what can realistically expect over the next 4-6weeks ?

Thanks

A J

If you need to fix it for, say, purchase of a car etc you can buy 'forward' via your UK bank.

They will apply a premium or discount to the current rate depending on what THEIR crystal ball is telling them.

That is a joke i take it ?

that's a joke indeed. premiums and discounts on currency forwards are based solely on interest rate differences.

[loppylugs1]

Here comes 57

jumped the gun,dropped

Edited August 24, 2015 by loppylugs1

[chiang mai]

Put your hand up if you're holding off transferring money in favor of a better rate.

Ah yes, just as I thought, holdoffitis is rampant, best be careful otherwise it could develop into waitedtoolongitis which can be fatal.

[stament]

My hand is up

[chiang mai]

My hand is up

U still waiting?

[al007]

CM has a point. Part of the reason the exchange rate is rising is because the pound is overly strong.

Some of you Guys amaze me. The Exchange rate wich has moved nicely in our favour has had bugger all to do with Sterling which is Bouncing around the level its been for some time.

Its purely down to the Baht declining against the Dollar nothing else.

I am not sure you are correct the Thai Batt is not pegged to the US dollar unlike the HK dollar, its relationship to the US $ Aus$ Pound sterling; to name but a few is a combination of many factors including the support the Bank of Thailand exerts

Is the pound overly strong again a matter of opinion, in my life time the US dollar to the pound sterling has ranged from 4 to 1.2, when it was 4 is when the two shillings six pence coin or half a crown was in slang referred to as half a dollar, five shillings being a dollar,

[Chivas]

CM has a point. Part of the reason the exchange rate is rising is because the pound is overly strong.

Some of you Guys amaze me. The Exchange rate wich has moved nicely in our favour has had bugger all to do with Sterling which is Bouncing around the level its been for some time.

Its purely down to the Baht declining against the Dollar nothing else.

I am not sure you are correct the Thai Batt is not pegged to the US dollar unlike the HK dollar, its relationship to the US $ Aus$ Pound sterling; to name but a few is a combination of many factors including the support the Bank of Thailand exerts

Is the pound overly strong again a matter of opinion, in my life time the US dollar to the pound sterling has ranged from 4 to 1.2, when it was 4 is when the two shillings six pence coin or half a crown was in slang referred to as half a dollar, five shillings being a dollar,

I dont recall claiming the Baht is pegged to the US Dollar.

[sandyf]

CM has a point. Part of the reason the exchange rate is rising is because the pound is overly strong.

Some of you Guys amaze me. The Exchange rate wich has moved nicely in our favour has had bugger all to do with Sterling which is Bouncing around the level its been for some time.

Its purely down to the Baht declining against the Dollar nothing else.

I am not sure you are correct the Thai Batt is not pegged to the US dollar unlike the HK dollar, its relationship to the US $ Aus$ Pound sterling; to name but a few is a combination of many factors including the support the Bank of Thailand exerts

Is the pound overly strong again a matter of opinion, in my life time the US dollar to the pound sterling has ranged from 4 to 1.2, when it was 4 is when the two shillings six pence coin or half a crown was in slang referred to as half a dollar, five shillings being a dollar,

Showing your age now, hasn't been 4 dollars /pound since 1949. On saying that the half crown was still called half dollar for a long time after 1949.

[lannarebirth]

Put your hand up if you're holding off transferring money in favor of a better rate.

Ah yes, just as I thought, holdoffitis is rampant, best be careful otherwise it could develop into waitedtoolongitis which can be fatal.

Hell, the Baht could go back to 44/$USD for all I know, but the rapid, relatively deep retracement, followed by "blood in the streets" is a pretty compelling argument for a reversal.

[stament]

I transferred some cash, so can I please put my hand down now?

[fish fingers]

Should see sterling baht reach 57 soon. Its back down to 55.6 form 56 something yesterday but over the next 6 months we might see 60 - this depends on the UK interest rates going up in Dec-Jan (which now may be delayed)

But you'll see the rate really go up(weaker baht) at some point in the near future .. forum rules etc dont permit me to say any more.

Edited August 25, 2015 by fish fingers

[stament]

Why not?

[chiang mai]

Should see sterling baht reach 57 soon. Its back down to 55.6 form 56 something yesterday but over the next 6 months we might see 60 - this depends on the UK interest rates going up in Dec-Jan (which now may be delayed)

But you'll see the rate really go up(weaker baht) at some point in the near future .. forum rules etc dont permit me to say any more.

"Should, might, depends, may", I sense you're not 100% convinced about 60.

[chiang mai]

Why not?

You have to ask yourself whether the Pound will tank when Queen Elizabeth dies, clearly the answer is no.

[stament]

Oh ok I get you now, thanks, tbh never even thought about that though a factor I imagine.

[sandyf]

[i claudius]

I transferred some cash, so can I please put my hand down now?

Me too , just swifted half of what i need ,the rest coming in cash in a month , no need to be greedy .

[emilymat]

My hand is up

So is mine.

I bought across enough today to last me for 8 months @ 55.8 from Barclay's

This way I can forget exchange rates for a while and concentrate on other things!.

If the pound goes up - then my monthly pension is technically worth more. If it goes down, then I've already lanced the boil.

I'm content with 55.8 and all want is some stability around that for a few months. No more yo-yo rates please

.

[chiang mai]

Yes I agree emilymat, as I'm sure almost every expat pensioner in Thailand does also, in going forward however it looks like it's going to be a roller coaster ride.

[stament]

Unbelievably I exchanged and benefitted for the first time ever! Rate I got was 55.6 and now according to xe.com it's 55.1

Wonders will never cease. Normally when I decide to transfer rather than wait the rate goes against me and other times I've held off and again it's gone against me. My timing is particularly bad, but this time I've actually benefitted, happy days :-)

Roll on 57.....

[chiang mai]

I imagine that happens because you didn't establish a strike price at which you would make the transfer, regardless of what was going on in the markets and you kept delaying waiting for the rate to improve. I find it helps enormously to determine the desirable/acceptable exchange rate in advance, that way all you have to do is wait for that rate to come around (or not) and then buy (or not), it means you're never disappointed.

A good friend who is a trader has words of wisdom on this and they are to always trade the technicals and never the emotion, I agree.

[sandyf]

Typical, pound drops overnight just before my pension comes through, came in this morning at 55.43.

Been paid a day early, must be bank holiday weekend in UK.

PS. It is in fact the highest rate I have received in 3 years of state pension, previous high was 55.27 in July last year.

Edited August 27, 2015 by sandyf

[sandyf]

[stament]

Typical, pound drops overnight just before my pension comes through, came in this morning at 55.43.

Been paid a day early, must be bank holiday weekend in UK.

PS. It is in fact the highest rate I have received in 3 years of state pension, previous high was 55.27 in July last year.

That sucks. Yes Aug bank holiday Monday this weekend

[phutoie2]

I'm still working on anything above 50 is a bonus. Enjoy.

[khastan]

I see Bangkok bank rate is now dropped to 54.32. I have just transferred a wedge of sterling to my Thai account whilst the rate was above 55.00. However have some more sterling to transfer. Should I act now before it gets any lower or wait for the baht to weaken or the pound to strengthen again.

Edited August 27, 2015 by khastan

[rwdrwdrwd]

Looking at charts and assuming trajectory continues, I think down to 53.5 within the next couple of weeks then up to 59+ within the subsequent 2 - 3 weeks

Trajectory could of course change completely - nobody knows. I did some at 55, will wait for the next batch until either 59 or I need some in Thailand.

Edited August 27, 2015 by rwdrwdrwd

[chiang mai]

59 you say, hmmm, fancy a small wager?