£1 gets you 50 baht now!

[Bumpa STIKKA]

I was having a chinwag with a chum over Christmas about the exchange rate of the pound and the baht.

I said by next summer it will be 44 baht for a pound.

He couldn't conceal his laughter and thought I was off my rocker!

Well, it's now 50 baht for a pound and it'll get a lot worse...

[guydesavoy]

(Bumpa STIKKA @ Feb. 26 2010,20:04) I said by next summer it will be 44 baht for a pound.

He couldn't conceal his laughter and thought I was off my rocker!

Well, it's now 50 baht for a pound and it'll get a lot worse...

Aaah yet another fool who underestimates the Bumpa...

As usual, the joke is on them

I guess that means more laaaaager louts in Patong ?

Yet another reason to stay away

[Dieter]

/Baht Bank Note
        Buy          Sell
USD 32.69 33.34
GBP 49.60 51.25
EUR 44.30 45.39


From today.... good I bought some baths before for 49.xx

Dieter

[pacman]

The Thai baht is overvalued & will need a downward correction sooner than later.

There is no fundamental reason for the baht gaining so much against the pound except for the short positions taken by the money traders on the pound & the baht is an unwitting beneficiary of the transactions.

When it suits the forex guys to have a stronger pound, the baht will only be one of many currencies that will slide against it. It is safer to place currency bets against a large currency like the pound than risk money on the baht, a currency small enough that it can't guarantee trading outcomes.

A very strong baht is an impossible burden for the Thai economy to carry. Once the damage becomes clear, the Thai Central Bank will move to ensure the rate goes in the other direction.

I have no idea why they haven't done so already but I have heard that there is national prestige at stake. Cold comfort for the people suffering from a strong baht, such as those in the hospitality business for starters.

[rossco]

Thai baht is a 'grey' currency so is loosely linked to the USD.
UKP weakens against the USD so it falls against the baht.

US economy needs to have a weak dollar to encourage US domestic product purchase vs Import goods

The Thai rate does not really need to weaken - they are not a large consumer of goods and services.
So if imported goods are higher in Thailand who does it affect - the rice farmer?

My bet is that there is more manipulation of currency markets than we will ever know. Sell/Buy notes registered in the system - who really knows?

[TTChang]

Looking forward to the Pacman Bounce  .... only on the exchange rate, I hasten to say  

Moved some funds over to my Kasikorn account this week, while the rate is still above 50.  I think most of this is about the weak pound, not the strong baht - ie. Sterling was down against EVERY major currency today ...     The Dollar has fallen a little, but sterling/baht is down by over 12% in 6 months (I got 57+ on one transfer last August).

C'mon you Thais    Think of your exports ... to me!

[Tomcat]

My off the cuff prediction is 38 baht to £ by May

£=$ is not unrealistic either in the longer term , i dont how this translates to £Bt but not good for me anway.

Lets face it the western world is fucked and trying to figure it out is impossible. I asked my bank manager last year for some advice and he said

             " Dont ask us , we got you into this mess"

[TEERAK]

I don't know much about money but on ratesFX.com the 95% prediction interval for one month is 46.94-52.1 and for three months 43.3-51.8 and as of yesterday it is 50.4

I suppose this means it's much more likely to go down than up....

So if i'm travelling in April and don't currently have a Thai bank account is there anything I can do? This sucks big time...

[manarak]

yes you can buy other currencies, such as Swiss Franc.

I agree with Bumpa that USD, GBP and EUR are likely to loose more ground over the YEARS to come.

[robbo]

this feckin sucks 6 years ago i was on 69 baht to the £ now that was living
feck this situation i dont like it atall if this continues then spending a month in LOS is going to become a rather expensive holiday destination,if i spent £80 a day 6 years ago i had a good time on it ,the same thing is now gonna mean £120 a day poss more,over the month thats getting to the point where other places are looking better options..................and so the search begins Brazil....Argentina mexico they are all rather enticing allready anyway

[robbo]

fuck it ive just made a snap desicion im off to LOS soon but not gonna do a long one, im gonna hit brazil later in the year with some of the money i didnt spend in LOS............lookout you big cocked Travesti im gonna pug your butts

[paulj92]

i looked tonight iam off 27th on xe it was 49 some thing did not sudy 49 was low enough gone a be some poor l/bs

[robbo]

yup well sooner something gives then everybody is happier,the baht is way too overvalued,yes the pound is diving but when the baht goes this high then its totally outa proportion.........mayby its time to sleep with the soi dogs at night eat street noodles 3 times a day have 2 wanks a day and limit myself one FL ST (800 baht) a week,also make my own condoms out of carrier bags put my thong on and hang about near soi 11 BKK for some customers

[azza33]

Any takers on the odds of a double dip? Europe is not looking good at all... and if there is any double dip... you can probably look forward to pount to baht at 30

I asked my bank manager last year for some advice and he said

" Dont ask us , we got you into this mess"

[Bumpa STIKKA]

From the evidence made public (that I choose to believe) I reckon that the Thai baht is very slightly over valued. But I don't think that this is the reason for the poor exchange rate.

The pound has to deal with a general election soon and when the Conservatives get back in (which I hope and pray they do... or the BNP) then we'll face some economic austerity and civil unrest later this year.

In the short term the Brits will still have to get used to (apart from the good news about the 'new and revised' recession figures run out yesterday) that we are still very deep in a massive crisis.

Next up for the UK will be the 'pension reporting with earnings' for all companies which is now law and the tax postponement from last year which will force many small to medium sized companies into bankruptcy. (If they couldn't pay last years tax last year then it's unlikely they will find the cash to pay them AND THIS years taxes this year!)

The cash for junk cars scam has ended and the VAT scam has also ended as has the temporary tax relief for home buyers that ran for the last year.

We don't have much to look forward to this year!