UK. Pound drops below 60 Baht

[Mavrick]

UK. Pound drops below 60 Baht Bangkok Bank I know the UK economy was bad but with all the political unrest in Thailand things must be extremely bad in the UK when the Thai Baht is still stronger than the pound.

Edited September 3, 2008 by Mavrick

[fostraswift]

yes its the pound that getting weaker...

i do keep a check on the baht to euro rate and it dosent seem to be affected by the unrest YET

[Mavrick]

yes its the pound that getting weaker...

i do keep a check on the baht to euro rate and it dosent seem to be affected by the unrest YET

 

 

At the rate the pound is weaking the Euro will be on level par soon.

[caltexman]

Getting alot less baht for your aussie dollar now as well.

[jackpot]

Oh bugger

[coolman]

Boy am glad i got the euro!!!!!!!!!

[fostraswift]

At the rate the pound is weaking the Euro will be on level par soon.

 

yes mav...time to get that blue shirt on!!!

[sonic692]

Im here now in Patts and got 60 baht today from an exchange in soi Buakhao.

Did see other places where it was 59.

 

Thats bad news for me :(

[jonny low]

[blue1878]

Yes the exchange rate at the moment is looking bad. And the signs arnt good for the near future. I'm going to Pattaya for Christmas and New Year. So I'm hoping the £ will make some kind of recovery.

 

I was recently in Pattaya and the exchange rate was around 65/66 to the £. I booked my room for christmas and new year and wanted to pay for it in full but the girls on reception asked me to just pay a 1750B deposit. Which I did. I hope I'm not going to regret not paying in full.

[7-Eleven]

It's a fucking joke

[beefy]

Not good news for me either for xmas!!! just gonna have to save abit more i guess!

 

lets hope the pound fights back, doubt it very much

[Parkwahn]

It's a fucking joke

 

 

Without getting political, our leaders are talking the problems up so even the people with money and decent jobs will not spend so the issue becomes

a self fullfiling prophecy.p

 

Sure there are problems but why kick confidence out of the market ?, with Los inflation at 7% and the baht from 70 to 60 in real terms the pound is worth

78 pence, 22% down year on year.

 

I am not sure how some of the expats on the tight budgets are getting on ? Some must be near the mark.

 

Must say I have never heard a leader so "we are fucked but follow me " bizzare leadership irrespective of party.

 

In the States their bank rate is a fraction what ours is, our Banks underworte some of the high risk mortages in US talk about cock ups.

 

When the Thais are settled the UK rate will drop to 55 baht....... Hope I am wrong

Edited September 3, 2008 by Parkwahn

[Kadafi]

The reason that the baht is remaning fairly strong is because the Bank Of Thailand is stepping in and using foreign reserves to hold it up (rumours state BOT have 103 billion dollars in foreign reserve, bloody high for Country like Thailand) the bank stepped in yesterday when they noticed a steep fall in Baht rate (a reported 5 billion dollars was spend during July 18th-August 22nd by BOT supporting the baht).

 

Foreign investers have already withdrew over 3.2 billion dollars in the Thai stock market this year, mainly due to the unrest since May.

 

The sterling problems are clear to see, with a view that we are entering a recession. Chancellor Alistair Darling's report over the weekend that its the UK worst crisis for 60 years certainly didnt help with a plummit on Monday.

 

I can only see further weakening of the baht/sterling exchange rate which isn't good for the UK, sub 60 baht/£ very soon (drop of 7baht/£ in around 5 weeks!) things dont look good...

Edited September 3, 2008 by Kadafi

[mikey m]

This is shit as £100 will only get me 6 girls not 7.

If you think that is bad then 12 years a go when I first went to LOS it was 36 Baht to the Pound.

[whitespider - RIP]

I am not sure how some of the expats on the tight budgets are getting on ? Some must be near the mark.

 

I cant speak for everyone of course but I started working here 14 years ago when the baht was 36 to the pound so we are not exactly suffering.

 

7 years ago when i moved full time it was 49 to the pound and I though that was GOOD!

 

Guys who moved in the last 2 years will be feeling the pinch.

 

Its important to remember that it not so much getting low now as its been unusually high for the past two years. Basically we have been spoiled the last 2 or 3 yearsd and a move back to 55 is simply restoring the equilibrium.

[Parkwahn]

I ant speak for everyoe of course but I moved here 7 years ago when the baht was 49 to the pound so we are not exactly suffering. Guys who moved in the last 2 years will be feeling the pinch.

 

Its important to remember that it not so much getting low now as its been unusually high for the past two years. Basically we have been spoiled the last 2 or 3 yearsd and a move back to 55 is simply restoring the equilibrium.

 

 

White, thats a good shout I went back to Los 4 years a ago after a 16 year gap.

 

On arrival it was 75 to the £........... so from my window it looks bad but I guess for a few years its been easy.

 

It just goes to show whereever you live what ever you do a surplus at the end of the month is required

[Mavrick]

The reason that the baht is remaning fairly strong is because the Bank Of Thailand is stepping in and using foreign reserves to hold it up (rumours state BOT have 103 billion dollars in foreign reserve, bloody high for Country like Thailand) the bank stepped in yesterday when they noticed a steep fall in Baht rate.

 

Foreign investers have already withdrew over 100 billion dollars in the Thai stock market this year, mainly due to the unrest since May.

 

The sterling problems are clear to see, with a view that we are entering a recession. Chancellor Alistair Darling's report over the weekend that its the UK worst crisis for 60 years certainly didnt help with a plummit on Monday.

 

I can only see further weakening of the baht/sterling exchange rate which isn't good for the UK, sub 60 baht/£ very soon (drop of 7baht/£ in around 5 weeks!) things dont look good...

 

Good post and I agree big mouth Alistair Darling report didn't help.

[Mavrick]

The reason that the baht is remaning fairly strong is because the Bank Of Thailand is stepping in and using foreign reserves to hold it up (rumours state BOT have 103 billion dollars in foreign reserve, bloody high for Country like Thailand) the bank stepped in yesterday when they noticed a steep fall in Baht rate.

 

Foreign investers have already withdrew over 100 billion dollars in the Thai stock market this year, mainly due to the unrest since May.

 

The sterling problems are clear to see, with a view that we are entering a recession. Chancellor Alistair Darling's report over the weekend that its the UK worst crisis for 60 years certainly didnt help with a plummit on Monday.

 

I can only see further weakening of the baht/sterling exchange rate which isn't good for the UK, sub 60 baht/£ very soon (drop of 7baht/£ in around 5 weeks!) things dont look good...

 

Good post and I agree big mouth Alistair Darling report didn't help.

[JASONTHAI]

I cant speak for everyone of course but I started working here 14 years ago when the baht was 36 to the pound so we are not exactly suffering.

 

7 years ago when i moved full time it was 49 to the pound and I though that was GOOD!

 

Guys who moved in the last 2 years will be feeling the pinch.

 

Its important to remember that it not so much getting low now as its been unusually high for the past two years. Basically we have been spoiled the last 2 or 3 yearsd and a move back to 55 is simply restoring the equilibrium.

 

I first came to Pattaya in Oct 2001 and it was 62 baht to the pound which was 7 years ago next month , I have been monitoring the rates over the years since I came here and my findings is this (this is based on a average for the year)

 

(2002) 62.12 baht to the pound

(2003) 66.45 baht to the pound

(2004) 70.76 baht to the pound

(2005) 73.59 baht to the pound

(2006) 70.03 baht to the pound

(2007) 68.21 baht to the pound

(2008) 64.08 baht to the pound (up to 2nd Sept)

 

(2009) well this could be a low of 60 - 62 baht to the pound if things keep going on the way it has ! not good for us UK guys

Edited September 3, 2008 by JASONTHAI

[culvers]

every time i cash in 100 quid im getting 600 baht less than i was at the start of my holiday.

Culvers is not happy.

[Dr.Winston]

I cant speak for everyone of course but I started working here 14 years ago when the baht was 36 to the pound so we are not exactly suffering.

 

7 years ago when i moved full time it was 49 to the pound and I though that was GOOD!

 

Guys who moved in the last 2 years will be feeling the pinch.

 

Its important to remember that it not so much getting low now as its been unusually high for the past two years. Basically we have been spoiled the last 2 or 3 yearsd and a move back to 55 is simply restoring the equilibrium.

 

And of course if you're earning in Thailand or have assets there then you're actualy gaining from these changes in the rates (at least when viewed on an international level). As for us tourisits !

[Parkwahn]

every time i cash in 100 quid im getting 600 baht less than i was at the start of my holiday.

Culvers is not happy.

 

 

Culvers you have so many freebies you must have a fortune, reading how you fuck I would not be suprsied if the girls are paying you , what a rascal you are keep it up

[Mavrick]

No changes on the Baht rate, today its 59.89 to the Pound.

[mikey m]

Thinking about this subject, we should just give the girls the new rate.

So the £ pound has gone from 70 Baht to 60 Baht this means the girls should be paid the same decrease thus being 950 Baht not 1000 Baht.

Just a thought. ??????