£1 gets you 50 baht now!

[pacman]

The British pound is in a delicate situation. With debt to GDP ratio at an unsustainable level & the Bank of England having to buy their own bonds for lack of takers, they face the threat of Sovereign Collapse, an unthinkable situation.

While a lousy exchange rate is a bitch for those trying to fund their holiday, it does have a very positive effect on the export capacity of the country.

If only they had kept their manufacturing base intact, hadn't sold off or bankrupted their car companies for a start, they might have something to export.

I remember years ago when the UK economy came under enormous pressure, an English colleague reminded me that the UK had massive investments all over the world, a lingering residue from the days of the British Empire & they could repatriate enormous sums of money if necessary.

I hope they still have it because it looks like the time has arrived when it is necessary.

[mardhi]

(pacman @ Mar. 01 2010,19:55) I remember years ago when the UK economy came under enormous pressure, an English colleague reminded me that the UK had massive investments all over the world, a lingering residue from the days of the British Empire & they could repatriate enormous sums of money if necessary.

No doubt any such sums would now be subject to countless levels of taxation which will ensure Swire & Sons et al will keep all that cash anywhere BUT the UK.

Cheers
Mardhi

[TTChang]

Probably all sold off by Gordon Brown, along with the country's gold reserves.

[mardhi]

Have you ever read a book called Thatcher & Sons ? To see exactly how much of the family silver Mr Brown has sold (& then leased back) is staggering. I dont think the govt of the UK owns any buildings anymore - yet happily pays 'competitive' leases for 30 years which make bucket loads of guaranteed income for the new owners. Remind me and I will give it to you when I next see you.

Cheers
Mardhi

[robbo]

its now accepted that the uk is well fucked,british people in general feel it,that in itself can lead to its downfall.
no manufacturing,no gold,no jobs,no gas,no oil,no fuckin decent weather no personal privacy no fun no friends and plenty of rich bankers ,traders,ex prime ministers( mentioning no names) and blue blooded theiving scum.
no shit the uk is badly placed.

[robbo]

(Bumpa STIKKA @ Mar. 01 2010,18:47) Oh dear... someone get a doctor - the pound is sick!

so am i

[NamKhaeng]

I don't know the mechanic behind currency trade but at the same time that the USD, GDP and the EURO are going down facing the THB my CAN dollars is going up. It was 28.1 THB to CAN last year and now it's 31.5 THB to CAN so I think it's not only because the THB is artificially maintain high since it's not the same for every currencies.

I also noticed that the currencies who took a big blow are the ones from countries that were hit very hard by the financial crises. Countries with rogue banks are paying a hard price for that casino style markets and it's not the rogue banks who are paying the bills for that but the tax payers.

[bangkoksins]

and there was I, advised against buying Baht when it was 1 GBP = 95 Baht. Damn I have been here too long, when I arrived it was 30ish.

[PigDogg]

Baht made a big move against the dollar today. I assume it's a result of no civil unrest following the Thaksin verdict.

[Ivor Biggun]

(guydesavoy @ Feb. 26 2010,21:00)

(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  

Surely the less baht for your buck means less tourists, not more?

[Dieter]

Pound to Euro today.....



Dieter

[robbo]

(Ivor Biggun @ Mar. 02 2010,22:02)

(guydesavoy @ Feb. 26 2010,21:00)

(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  

Surely the less baht for your buck means less tourists, not more?  

you can bet your right, this is in no way a good thing for LOS, allthough tourism is not its only income,as opposed to many others it is a very large junk,in particular places such as Phuket ,the shitpits,Samui etc.
its a no win situation, there will be a correction,historical average rates at exchange are around the 63/64 to the £.
that is a level which encourages tourist to spend more stay longer etc.
the only thing that is of interest ,as it will correct at some point,is just how low will the baht go against currency such as the £,if it continues to such a level as to be not worth flying 5000 miles,as it would be more viable to stay at home and monger then it becomes something else.

[anthony70]

i think the euro being level with the pound is a good thing.
because now that means it is only £6.00 a pint in amsterdam.
bargain.

[Bumpa STIKKA]

as it would be more viable to stay at home and monger...

     Now there's a thought. Pop in to your local Cascades bar in down town Ipswich!

Blimey - a few strange comments here. Even if the pound stays around 50 baht it would still be a lot cheaper and better than anything you can get at home. Everything from the hotels and ladyboys and the taxis... all a lot cheaper than the UK and miles better quality.

The air fare hasn't changed in years - if anything it's even cheaper.

The only time the exchange rate really hits you is the tourist targeted Bangkok restaurants and bars which charge Western prices for booze and food. But that's easy to avoid or minimize.

Either go to Pattaya for the trip or at least spend more time there.

Phuket and Bangkok are just way too expensive for the budget conscious traveler.

[azza33]

Phuket can be done cheaply- just find some good guesthouses and stay away from beach road restaurants!!
Bangkok - yet to ever find that cheap - ever!