Johnniey Posted February 26, 2016 Share Posted February 26, 2016 Any financial fortune teller out there? First it's great timing the pound has dropped as I am going back for a holiday in 2 weeks. Should I buy now or is there any hope it will drop more. I remember it was 38 about 25 years ago. Link to comment Share on other sites More sharing options...
jpinx Posted February 26, 2016 Share Posted February 26, 2016 Take a look at the long term history. http://www.xe.com/currencycharts/?from=GBP&to=THB&view=10Y There has been a peak in each of the last two years, but the pound then falls back to the 50-ish that it's worth now. It all depends on your reason for looking -- tourist/spending money or longer term ? Link to comment Share on other sites More sharing options...
trd Posted February 26, 2016 Share Posted February 26, 2016 There will be uncertainty with the pound until after the EU referendum in June. Link to comment Share on other sites More sharing options...
ThaiKneeTim Posted February 26, 2016 Share Posted February 26, 2016 Currency speculators make life difficult for travellers, they will offload any currency they have if they think they might not get a return on their investment, fuelling the rush to sell, thereby causing the drop in value they're fearful of. Meanwhile us travellers have to cope with the reduced buying power when we want to buy foreign currency. Of course it will bounce back when the GBP has bottomed out and the speculators but, which will cause the GBP to peak above it's true value, that will be the time, if you're lucky enough, to be travelling or sending money overseas. But for now I'll have to live with the fact that I won't be able to do as much building work on my place as I'd hoped. Link to comment Share on other sites More sharing options...
meatboy Posted February 26, 2016 Share Posted February 26, 2016 still better than what it was this time last yr.47-48. i remember over 30yrs.ago 38 for cash. Link to comment Share on other sites More sharing options...
Johnniey Posted February 26, 2016 Author Share Posted February 26, 2016 still better than what it was this time last yr.47-48. i remember over 30yrs.ago 38 for cash. Oct 92 was a particularly bad time, especially as I had only pounds in Bangkok Link to comment Share on other sites More sharing options...
chiang mai Posted February 26, 2016 Share Posted February 26, 2016 A bird in the hand.....! Link to comment Share on other sites More sharing options...
Henryford Posted February 26, 2016 Share Posted February 26, 2016 My transfers from the UK have averaged 50 baht to the Pound over the past 7 years so i budget on that now. It will probably dip over the next few months but hopefully maintain that average. After all we are the best performing economy in the western world (pause for laughter). Link to comment Share on other sites More sharing options...
billd766 Posted February 26, 2016 Share Posted February 26, 2016 still better than what it was this time last yr.47-48. i remember over 30yrs.ago 38 for cash. How about this as a sweet memory? Forex 1997 v03.xls Link to comment Share on other sites More sharing options...
Puccini Posted February 26, 2016 Share Posted February 26, 2016 (edited) My crystal ball says that the rate for the GBP will remain above THB 49.50 for the next two weeks. Edited February 26, 2016 by Puccini Link to comment Share on other sites More sharing options...
Enoon Posted February 26, 2016 Share Posted February 26, 2016 (edited) There will be uncertainty with the pound until after the EU referendum in June. Or, in the event of a "leave" result, after the UK Parliament votes on the UK staying/leaving the EU. A vote which may take place if the referendum result says leave. (There is no requirement/duty/obligation, under the British Constitution, for HM Government or Parliament to act upon the result of a referendum). The UK cannot leave without a vote in Parliament (in favour of leaving) taking place. Such a vote would repeal (nullify) the European Communities Act 1972 which permitted the UK to join. Edited February 26, 2016 by Enoon Link to comment Share on other sites More sharing options...
PhillyBoy Posted February 26, 2016 Share Posted February 26, 2016 Its going to stay where it is for the short term. If they break away from EU it will probably drop to about $1.20. If they stay in it will most likely go back to about $1.50. IMO. Link to comment Share on other sites More sharing options...
riverhigh Posted February 26, 2016 Share Posted February 26, 2016 My crystal ball says that the rate for the GBP will remain above THB 49.50 for the next two weeks. Agree, my crystal ball says the same. GBP should remain above THB 49.50 unless there is significant shift in the BREXIT polls. So far, all of the phone polls on Britain's membership of the EU suggest more people will vote to remain in the EU - and by a significant margin. Based on this, I think the risk of UK exiting the EU has already been priced into the GBP rate. Take your shortfall win and enjoy your holiday. Link to comment Share on other sites More sharing options...
Bangkok Barry Posted February 26, 2016 Share Posted February 26, 2016 still better than what it was this time last yr.47-48. i remember over 30yrs.ago 38 for cash. How about this as a sweet memory? Forex 1997 v03.xls Posting that does not bring happiness to the (British) people. Off with your head! Link to comment Share on other sites More sharing options...
i claudius Posted February 26, 2016 Share Posted February 26, 2016 (edited) Look for the pound to gain the beginning of next week,you can shoot me if it doesnt Edited February 26, 2016 by i claudius Link to comment Share on other sites More sharing options...
chiang mai Posted February 26, 2016 Share Posted February 26, 2016 Joined the realm of crystal ball owners have we IC, it seems so out of character that you would. Too funny by far. Link to comment Share on other sites More sharing options...
Gandtee Posted February 26, 2016 Share Posted February 26, 2016 Yes. I remember 38 baht to the pond in 87. Didn't worry me at all as I was working. Now as a fixed pension pensioner it does tighten the top lip somewhat. Link to comment Share on other sites More sharing options...
eliotness Posted February 26, 2016 Share Posted February 26, 2016 The pound has been affected by the uncertainty of the UK leaving the EU. What I'd like to know is will there be a drop in the value of the Euro if the EU loses the UK ? Link to comment Share on other sites More sharing options...
nauseus Posted February 26, 2016 Share Posted February 26, 2016 Watch out all. It's currency and anything can happen! Especially in this world of currency (devaluation) wars! GBP was 33 to the THB (about 1985) when the baht was more fixed to the USD than it is now. When the USD finally loses grip (or is forced down) odds are that GBP may at least partially emulate that. My advice? Buy physical BEER! Link to comment Share on other sites More sharing options...
Gary A Posted February 26, 2016 Share Posted February 26, 2016 Sooner or later, the Euro is doomed. The pound may drop some but it will come back like a biting sow. I'd much rather hold pounds than Euros. Link to comment Share on other sites More sharing options...
crazydrummerpauly Posted February 26, 2016 Share Posted February 26, 2016 My crystal ball says that the rate for the GBP will remain above THB 49.50 for the next two weeks. Agree, my crystal ball says the same. GBP should remain above THB 49.50 unless there is significant shift in the BREXIT polls. So far, all of the phone polls on Britain's membership of the EU suggest more people will vote to remain in the EU - and by a significant margin. Based on this, I think the risk of UK exiting the EU has already been priced into the GBP rate. Take your shortfall win and enjoy your holiday. And then there are the polls saying the opposite...that's polls for you. Link to comment Share on other sites More sharing options...
jpinx Posted February 26, 2016 Share Posted February 26, 2016 The pound has been affected by the uncertainty of the UK leaving the EU. What I'd like to know is will there be a drop in the value of the Euro if the EU loses the UK ? Yes - and no -- depends what you value it against The baht will probably wobble a whole lot more as the new elections approach. The US$ will be all over the place while they decide to get DT in the white house. By the time that load of pantomimes is over there'll be new elections in Uk,,,,,,, We live in interesting times.... Link to comment Share on other sites More sharing options...
little mary sunshine Posted February 26, 2016 Share Posted February 26, 2016 Bloomberg is estimating additional 6-9% decline before it starts back up! Link to comment Share on other sites More sharing options...
connda Posted February 26, 2016 Share Posted February 26, 2016 (edited) It depends. GREXIT or no GREXIT. If the 'little people' say, "GREXIT", they will be punished. Edited February 26, 2016 by connda Link to comment Share on other sites More sharing options...
i claudius Posted February 26, 2016 Share Posted February 26, 2016 Joined the realm of crystal ball owners have we IC, it seems so out of character that you would. Too funny by far. Get your gun ready Link to comment Share on other sites More sharing options...
mikiea Posted February 26, 2016 Share Posted February 26, 2016 A bird in the hand.....! the poop will hit the fan when it will not be plausable to use the super double secrete thai special math to cook the books , as is being done now .... the exchange rate for the us dollar will be ... 1 for eleventyfortyniner . Link to comment Share on other sites More sharing options...
SidJames Posted February 26, 2016 Share Posted February 26, 2016 A bird in the hand.....! the poop will hit the fan when it will not be plausable to use the super double secrete thai special math to cook the books , as is being done now .... the exchange rate for the us dollar will be ... 1 for eleventyfortyniner . Couldn't agree more mikiea but how long can this military chef leave this pot bubbling away? Link to comment Share on other sites More sharing options...
chiang mai Posted February 26, 2016 Share Posted February 26, 2016 For gods sake, not again! When will people ever learn that forex rates are determined by demand and by demand alone, with 30 million tourists demanding THB it is naturally strong as a result. Link to comment Share on other sites More sharing options...
Thaimike370 Posted February 26, 2016 Share Posted February 26, 2016 I think the pound will drop as low as 45 Baht over the next few weeks. If the UK leaves the EU, the pound will rapidly go above the 50s and as the UK has a strong and growing economy will continue to rise possibly back into the 70s. The EU will collapse without the 55 million pounds a day we are putting in, that will lead to the first and final audit of the EU books, the result of that will be interesting to say the least. Then we will close our borders as several countries in the EU are doing now, as a result of the Muslim invasion with all the problems that has and is creating. Should Turkey be admitted to the EU that will be the end of Europe as us know it. For the sake of Britain, I hope we vote OUT, then we can put the Great back into Britain and once again become a world leader instead of Merkel and co treating us as a third world country of no consequence. The next twelve months are going to prove extremely interesting. Link to comment Share on other sites More sharing options...
chiang mai Posted February 26, 2016 Share Posted February 26, 2016 Having read all the economic forecasts on this subject during the past week, you are the only person on the planet to have ever suggested that the Pound will strengthen into the 50's and then 70's in the event of Brexit. Link to comment Share on other sites More sharing options...
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