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Thai Baht at 21 month high


Expat46

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at 47 to the pound it makes this place as expensive as uk for food ! beer is also cheaper in the supermarkets in uk thing is though u dont get 19 year old babes smiling at u like u do here :( i was thinking of buying a new car at christmas now im glad i did not ! i will not be injecting any more money in to thailand at these rates . will take my wife back to uk and save my money :( sad to say... good luck its going to be a longggggg summer for u business owners in patts .

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SAme for me i was going to buy a new car but not now ,will stick with the one i have ,its 20k Thailand wont get,shame hope the pound gets higher by oct when i have to bring money over.

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The solution for mongers who are able to, is to travel during the low season, where rooms can be had for less and girls are more willing to go with you for less. I was looking at rooms in Phuket, and beginning May 1st, my 1500baht hotel room would be under 1000baht per night. Not every hotel and not every girl gets cheaper, but it is just one way to make your dollar, or pound, or euro go a bit farther.

Edited by tom48
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at 47 to the pound it makes this place as expensive as uk for food ! beer is also cheaper in the supermarkets...

Yes, it's getting silly now. A meal from the street carts ~£1; you can get a similar meal from the chippy in the UK for that. Step up to a restaurant then you really start to feel the pinch!

 

Beer in LOS has always been silly, now it's just ridiculous!

 

A 330ml bottle of shitty Heineken / Tiger for ~£1; that's the cheapest during happy hour. In the BBs after 8pm you pay double that & in the Gogos triple or quadruple!

 

I can get a pint (500ml) from my local Samuel Smiths pub, or same in Manchester, Leeds & Liverpool for £1.50.

 

uk thing is though u dont get 19 year old babes smiling at u like u do here

Nope, but there are other places in LOS which are looking infinitely more inviting. With some GG girls quoting 5000B LT, which may soon become the norm, even England may become a competitive P4P country, adjusting for flight costs etc. :Drink4:

 

sad to say... good luck its going to be a longggggg summer for u business owners in patts .

Going to be a COLD COLD winter for those guys. I've already undertaken extensive research for my next trip - to AC in the Philippines! Lah Gorn Thailand. :GoldenSmile1:

 

Peace. :GoldenSmile1:

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Im confused (not unusual).

 

I started coming in early 2006 and its now early 2010...many trips enjoyed...I keep records of exchange rates and they have ranged from a low of 32-ish (now) to a high of 36 somewhere along the way...apples to apples (ie measuring by the exchange rate of the same bank)...so, thats barely more than a 10% variation over 4 years...not too bad given all the gyrations in the world economies over that same period.

 

Though, compared to a longer study of how I have done with the Costa Rican Colones...I remember getting as little as 235/dollar back in the mid-nineties...and as much as 550/dollar more recently...NOW THATS A CURRENCY MOVE!

 

Cheers, Alex

Edited by Alex the Hedonist
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I can get a pint (500ml) from my local Samuel Smiths pub, or same in Manchester, Leeds & Liverpool for £1.50.

 

Wow, you wanna come down and try London prices, LOS still looks cheap for us southerners!!

RULES

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There are only two types of people in the world, those who can extrapolate from incomplete data......

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The Thai baht is likely to stay strong for a long time in relation to Euro,Pound Sterling and US$ mainly due to

 

1)European,UK and US banks going practically bankrupt by excessive leverage on speculative instruments and being bailed out by their governments at the cost of tax payers and the cheapening of their currencies ie printing of Euros,pounds and US dollars by their treasuries

2)Thai banks highly conservative risk profile and refusal to involve themselves in credit default swaps,sub prime mortgages,mortgage backed securities and other derivatives hence having strong balance sheets and strong capital positions compared to Western economies

3)Apart from Germany - European countries and US spending more than they earned,taking on debts that they can barely pay and having huge budget deficits undermining their economies and as a consequence their currencies

4)Thailand is rich in natural resources such as agriculture (ie food) and consistently produces more than it consumes and has budget surpluses (rice,rubber,natural gas etc)since its exports are far greater than its imports

5)Tourism only accounts for 5% of Thailand's GDP and the rest is manufacturing,agriculture,services etc etc

 

So it is not the Thai baht getting stronger it is Western currencies getting weaker.

 

Canadian and Australian dollar are OK mainly due to their countries being rich in commodities which allows them to generate significant exports due to worldwide demand for copper,iron ore,coal etc etc.

 

 

So if I was from the UK,Europe and US,blame your banks and your fellow citizens for spending more than they earned and taking on excessive debts.

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The South African Rand is fairly strong against the baht. But my problem is that I have to convert my Rands into Euro or dollars, and with rate they're falling, I'll be losing money as change currency later in my holiday.

 

Only other option is to change all me cash when I get there, but this is too risky. I have been thinking about changing my Rands to Australian dollar as this looks more stable. Oh well still a month to go, will wait and see what happens.

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Okay, help me out. Is Thailand not the place to go for mongering any more?

 

The price of beer up, food up, lodging up.

 

The price of tail??? Is it at least adjusted down because of the world wide economic collapse?

 

WHERE or WHERE CAN A NICE MONGER GET CHEAP TAIL, WHERE? And still get a good cold beer?

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Okay, help me out. Is Thailand not the place to go for mongering any more?

 

The price of beer up, food up, lodging up.

 

The price of tail??? Is it at least adjusted down because of the world wide economic collapse?

 

WHERE or WHERE CAN A NICE MONGER GET CHEAP TAIL, WHERE? And still get a good cold beer?

 

The way the UK economy is going and the British Pound - England!

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Yes, it's getting silly now. A meal from the street carts ~£1; you can get a similar meal from the chippy in the UK for that. Step up to a restaurant then you really start to feel the pinch!

I agree with most of what you say but you can't even get a bag of chips for a £1 anymore,certainly not around South Wales anyway.

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@HappyBill: :) #32 :Thanks3: for a informative answer.

 

I'm still confused since Thailand reported yet another problem that rice export is down big time, thanks to Vietnam and others who sell rice 2-300USD cheaper per ton.

 

Let's hope Thailand's central Bank will listen to the growing pressure from Thai business people.

A weakened Baht would help export businesses, as well as tourism.

 

Ah, the sweet memories of a weak Baht, and strong foreign currencies ...

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  • 2 weeks later...

The baht was almost at its 22-month high Tuesday on positive Thai economic outlook which attracted overseas demand for local assets. The government on Monday revised up its GDP 2010 growth estimate from 3.5 to 4.5 percent in view of the improving global economic environment.

 

The Baht strengthened by 0.1 percent to 32.33 per the U.S. dollar.

 

The baht has gained 3 percent in the first quarter of this year, should strenghten to Bt31.50 per U.S. dollar by year-end, currency traders said.

 

 

http://www.nationmultimedia.com/home/Baht-approaches-22-month-high-30125933.html

 

 

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The baht was almost at its 22-month high Tuesday on positive Thai economic outlook which attracted overseas demand for local assets. The government on Monday revised up its GDP 2010 growth estimate from 3.5 to 4.5 percent in view of the improving global economic environment.

 

The Baht strengthened by 0.1 percent to 32.33 per the U.S. dollar.

 

The baht has gained 3 percent in the first quarter of this year, should strenghten to Bt31.50 per U.S. dollar by year-end, currency traders said.

 

 

http://www.nationmultimedia.com/home/Baht-approaches-22-month-high-30125933.html

 

 

 

For baht to keep getting stronger even in the current situation is a clear picture that baht is 100% controlled by the BOT and has nothing to do with the market.

 

Some articles recently said that current crisis played no role on investment. Well i was out last night and all clubs were pretty much half empty,which shows no tourism.

Even though tourism is a small part of the total economy, however if people are not coming for holidays due to protests, i really doubt they are pooring money into Thai market.

 

At the end of the day, we can all speculate but truth will never be known

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There are three sides to every argument: your side, my side and the right side.

Thank God I'm an atheist.

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COULD ONE OF YOU LUCKY BARSTEWARDS THAT LIVE IN PATTS LET ME KNOW HOW MUCH WE ARE GETTING TO THE POUND TODAY PLEASE.... I VISIT IN 2 WEEKS

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Looked at Sweden and the last 5 years you get as much as 5,2 for the Krona or or as little as 4 ( 2009) current one is 4,5 so almost inbetween high and low , not horrible but not great its about 12 % from the lowest exchange rate the last 5 years. Average the last 5 yeras i probaly around 4,8 for 1 SEK so about 6 % higher , so the current situation is not going to kill u. The SEK is still pretty weak considering the stable economy so hopefully we will se a race and a strengthen SEK soon.

 

Just looked at the british pound vs the SEK the last 5 years, it is a curve that goes straight down , must be a fall of plus 30 % easily, so i understand your concerns.

Edited by duffMaster
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Probably has nothing at all to do with fact that Thailand is not in the red budget wise.

 

Don't know the answer to this one,but.

How is the pound against the PI peso, maybe Angeles is a better destination

Edited by luckyphil91
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much appreciated expat. i wont be too disappointed if it stays around this mark. or maybe even hit 50 but thats asking a bit much in 2 weeks i reckon. thanks again.

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Most European and US currencies will be weak for a while yet. Their economies are not doing as well as the Thai economy and so the THB will be strong and will stay so unfortunately.

 

The good news is that the Australian dollar is strong so they are getting a good deal in Thailand.

I guess that means A FEW MORE DOLLAR TO BUY DRINKS AND HAVE A GOOD TIME. I THINK IT IS 32.40 TODAY AGAINST THE DOLLAR

Whale

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