48 baht/gbp ?

[thaibutch]

Just checked the exchange rates today online and it's saying that the pound has gone back down to @48 bhat/£. Any BM's in Pattaya confirm this or hopefully tell me it's not true !

[coolman]

Am glad i got euros thank the Budda.

[Scumbag]

Siam Commercial Bank is giving 48.44 for notes and 49.17 for traveller's cheques.

[thaibutch]

Shit !!!!!! Confirms my worst fears, it's getting worse again .

[surry]

Hope it picks up for may

[panasar]

Its only going to get worse, with Brown and his Darling steering the rudderless ship of the UK economy

[gogo dog]

Its only going to get worse, with Brown and his Darling steering the rudderless ship of the UK economy

With those tossers printing money I fear it will weaken the pound further.

[Alleycat]

With those tossers printing money I fear it will weaken the pound further.

 

Ahh yes the 'quantative easing' approach that takes us into the realms of the economic unknown, all this does is show the markets the dire straits the UK economy is in as this really is a desparation tactic. The BOE are planning on a 75 billion assets buying program. I fear the worst and the Pound may very well fall from $1.4 to around the $1.2 mark, which will reflect in the value of the Baht to the rate of 42 Baht to the pound.

[farang1]

Just checked the exchange rates today online and it's saying that the pound has gone back down to @48 bhat/£. Any BM's in Pattaya confirm this or hopefully tell me it's not true !

 

 

I get 49.47 baht. This represents a 2 baht drop in about one week. http://finance.yahoo.com/currency-converte...BP;to=THB;amt=1

[BSJ]

With 75 billion in Monopoly money coming into circulation it won't be long before it's hovering in the high 30's. Yer, that isn't gunna make your day! But that's how it looks from here.

[DAVE6]

With those tossers printing money I fear it will weaken the pound further.

 

I hope it gets better before July but can't see it. I think you are right with what you say with Brown and his little Darling printing moor money???

[igot2see]

48/bht is great. The fooken USD was 33.x/bht last Summer.

[MrDK]

48/bht is great. The fooken USD was 33.x/bht last Summer.

 

...and $29.xx just over a year ago.

[Marauder]

Can anyone with some insight in economics post their thoughts about the fed printing money now?

It will obviously bring the USD down, but what will happen with the Baht? Will the thai government

buy baht to support their currency if it goes too low? Will they decouple it from the USD? If so, what

will the repercussions be?

I see the Baht is cheaper for me now, along with USD, but that might just be from the stronger NOK.

I really wish i understood these things better, anyone feel like doing a crash course in currency?

[gmoule]

i think it will go up to around the 55 mark soonish with the us using quantitive easing aswell to the total of 1.2tr

[FreddyG]

It will only mean one less BJ a day, one less beer a day and one less meal a day,,, I i will call it the hangover day

Who cares we still get a good deal when in LOS

 

 

p.s I am just happy knowing that in three weeks I will be there in the LOS

[td5855]

The Baht is balanced/tied to 10 of the regional currencies in Asia. They are all intertwined so no country can gain a currency advantage over its neighbour. aka Italy before the Euro.

 

People cannot understand how the dollar has risen in value against Sterling and the Euro when its economy is down the pan like the latter two.

 

Many reasons, but one being that the dollar has resumed its reserve currency status. When you consider value of dollar holdings in the Gulf States and China. They would blanche at seeing that asset value drop, relative to Yen, Euro and Sterling.

 

Give another example of Forex.

Gulf states agree to sell "X" amount of barrels for "X" amount of dollars. They then find they are getting 25% more sterling for the dollar, so imports from the UK in Sterling i.e. Eurofighter becomes cheaper. Import BMW's the Euro has dropped against the dollar so import of luxury cars becomes cheaper.

 

Other words its better to hold dollars than Euro or Sterling since the dollar exchange rate means more money for exports, import costs lower.

 

People want more Dollars, to get those, they sell Sterling and Euros. Sterling and the Euro collapse against other currencies like the baht.

 

The above is a bit too simplistic since there are a myriad amount of other factors that impinge on exchange rates like a countries base lending rate for one.

 

My view. (Been wrong big style before)

Dollar will trade between 34-36baht for this year.

£ can/could fall further if Barclays outside financial help fails and they go to the goverment for funds.

BOE prints too much money for market sentiments.

Best scenario is $1.48 tops. Worst case

Edited March 20, 2009 by td5855

[FreddyG]

The Baht is balanced/tied to 10 of the regional currencies in Asia. They are all intertwined so no country can gain a currency advantage over its neighbour. aka Italy before the Euro.

 

People cannot understand how the dollar has risen in value against Sterling and the Euro when its economy is down the pan like the latter two.

 

Many reasons, but one being that the dollar has resumed its reserve currency status. When you consider value of dollar holdings in the Gulf States and China. They would blanche at seeing that asset value drop, relative to Yen, Euro and Sterling.

 

Give another example of Forex.

Gulf states agree to sell "X" amount of barrels for "X" amount of dollars. They then find they are getting 25% more sterling for the dollar, so imports from the UK in Sterling i.e. Eurofighter becomes cheaper. Import BMW's the Euro has dropped against the dollar so import of luxury cars becomes cheaper.

 

Other words its better to hold dollars than Euro or Sterling since the dollar exchange rate means more money for exports, import costs lower.

 

People want more Dollars, to get those, they sell Sterling and Euros. Sterling and the Euro collapse against other currencies like the baht.

 

The above is a bit too simplistic since there are a myriad amount of other factors that impinge on exchange rates like a countries base lending rate for one.

 

My view. (Been wrong big style before)

Dollar will trade between 34-36baht for this year.

£ can/could fall further if Barclays outside financial help fails and they go to the goverment for funds.

BOE prints too much money for market sentiments.

Best scenario is $1.48 tops. Worst case �$1.32. Could be 44 to 55baht to the pound.

 

The little tinker in the woodpile is Thailands economy. Will they devalue to help exports recover?? If they do fuel costs will go up, civil unrest???

 

Please correct if you have a better theory on future currency movements.

 

But the tea leaves in my cup say the above, confirmed by the chicken bones thrown across the gourd

 

 

 

The benefit at the moment for me is that Thailand are considering measures to keep the tourist coming back,, I got a flight with an airline for £450, thats for nothing when you consider the distance travelled.

 

Its still happy days for travelling to LOS

[Marauder]

I would think that the smart thing for Thailand to do would be to devalue. It would mean higher fuel costs and more expensive

imports, but in the long run they will make up for it in tourism and exports. There is going to be fierce competition for the tourism

"dollar" as the downturn continues, so it's best to start early. Personally i don't think we will see a real upturn before 2011-2012.

This is due to the lag in the work market, as hiring of workers always lags behind 12-18 months of any downturn.

Also, due to the *much* lower investing in oil exploration and production, we will see high oil prices again once the economy recovers.

This will slow down the recovery and shorten the next "boom cycle", might even just be a dead cat bounce before we enter a

recession again. So, higher energy prices for the Thai now will encourage saving and making do with less, something they will

have to do sooner or later anyways. It's really stupid to grow accustomed to low energy prices and build your economy around it when

you know it's not going to last. That goes doubly for the west:)