thai baht to uk pound

[andyfalang 0]

uk pound is now 61.9 to the thai baht that means lost about 15 pounds on 100 pounds since last trip in october i think it will keep on dropping and will be down to 50 baht to the pound before the end of this summer any bms got any thoughts on this

[Zidane 11]

This time last year we were getting 72 baht to the pound.

I've been here when its been as low as 42 before the SE Asia financial crash but certainly hope it wont go down as far as that as it will certainly affect a lot of peoples lifestyles over here.

 

Zidane

[BongoBill9999 0]

uk pound is now 61.9 to the thai baht that means lost about 15 pounds on 100 pounds since last trip in october i think it will keep on dropping and will be down to 50 baht to the pound before the end of this summer any bms got any thoughts on this

 

You are suggesting that the £ has depreciated some 15% against the Baht since October. This is not the case. The AVERAGE value of £1 in October (using the offshore rate) was 65.06 and the AVERAGE value this month thus far is 62.59, a drop of just under 4%. The onshore rate will differ somewhat but not that much. Anyone can find large variations between dates, but ignore the peaks and troughs to get a clearer picture (unless you are a currency speculator, in which case the they are important ).

 

The value of sterling is affected by many factors but prominent are interest rates in the UK compared with the US and the EU, and the trade deficit (which caused the big decline in Dec/Jan. Yesterday the voting results of the Bank of England MPC indicated that further cuts were likely, so the pound fell vs the USD. I know that the Baht is not linked to the USD but, certainly, it is profoundly affected by it.

 

I have no more idea about the future than the man in the moon but say, if the £ dropped another 10% against the USD bringing it to about $1.75 (and this is widely forecast in some circles) then that would equate to a drop to about 55 Baht to the £. That said, it could be argued that the Baht is now overvalued and the Bank of Thailand appears to do wierd and wonderful things with the onshore (which they can heavily influence vs the offshore rate (which the market decides). So who knows, the Baht may crash significantly. It has happened before!!!!

 

Just personal views on my part as I keep a close eye on things prior to relocating to LOS (when my freaking house sells!!!)

 

Remember, one economist interviewed and you get a view. Two economists interviewed and you get a discussion. Three or more economists interviewed and you get an arguement!

 

Bill

 

ps I am not an economist. No flaming! Errors and omissions accepted!

[Eneukman 1]

I keep a note of the week's closing internal TT rate for the sterling - baht rate. In early November, the rate was 71.19. Today according to the Bangkok Bank site

 

http://www.bangkokbank.com/Bangkok+Bank/Pe...tes/default.htm

 

it is 62.82 - a fall of a bit under 12% in just over 3 months. Since the start of the year, sterling has fallen by about 6% against the baht.

 

My figures for October suggest an average of close to 69 to the £.

 

Alan

[BongoBill9999 0]

I keep a note of the week's closing internal TT rate for the sterling - baht rate. In early November, the rate was 71.19. Today according to the Bangkok Bank site

 

http://www.bangkokbank.com/Bangkok+Bank/Pe...tes/default.htm

 

it is 62.82 - a fall of a bit under 12% in just over 3 months. Since the start of the year, sterling has fallen by about 6% against the baht.

 

My figures for October suggest an average of close to 69 to the £.

 

Alan

 

 

I did state that I was using the offshore figures (from OANDA) and just under 4% is what you get for the past three months. But what do they know - that is the outside world without the fudging of the Bank of Thailand. I am aware that the BOT brought in the two tier rate in attempt to thwart the speculators. Of course there is often a wide difference between the offshore and onshore rate, as we all know and it has been converging, hence the figures you show. Would be nice to know what the BOT is up to.

Bill

Edited February 21, 2008 by BongoBill9999

[dontcha 53]

Almost every currency is heading in the wrong direction against the baht, Sterling is probably the most vunerable for the next few months. There is only one way to survive a holiday in Pattaya now and that is too cut out all LDOP activity, this includes stopping giving stupid tips and paying daft barfines(anything over 400 in a Go Go is daft or 250 in a bar).

Stick to 500 ST and 1000 LT except for on the beach where you can get it for less than 500 ST.

With exhorbitant flight prices and the way falangs currencies are in freefall against the baht the days of the daft LDOP are almost over.

[pwillia8 3]

Almost every currency is heading in the wrong direction against the baht, Sterling is probably the most vunerable for the next few months. There is only one way to survive a holiday in Pattaya now and that is too cut out all LDOP activity, this includes stopping giving stupid tips and paying daft barfines(anything over 400 in a Go Go is daft or 250 in a bar).

Stick to 500 ST and 1000 LT except for on the beach where you can get it for less than 500 ST.

With exhorbitant flight prices and the way falangs currencies are in freefall against the baht the days of the daft LDOP are almost over.

 

Well PUT!!!!!!

 

With money getting tight;

Prices will have to go down;

 

[sinbinjack 243]

I would love to think prices will come down ,but TIT and I really don't expect them to.

[Eneukman 1]

Almost every currency is heading in the wrong direction against the baht, Sterling is probably the most vunerable for the next few months. There is only one way to survive a holiday in Pattaya now and that is too cut out all LDOP activity, this includes stopping giving stupid tips and paying daft barfines(anything over 400 in a Go Go is daft or 250 in a bar).

Stick to 500 ST and 1000 LT except for on the beach where you can get it for less than 500 ST.

With exhorbitant flight prices and the way falangs currencies are in freefall against the baht the days of the daft LDOP are almost over.

 

I wish!

 

The wealthier visitors to LOS from the UK are probably used to paying anything up to £1,000(or more) for an overnight stay. They will still regard 3,000 to 4,000 baht plus as good value.

 

Alan

[monkeyman 1,597]

With exhorbitant flight prices and the way falangs currencies are in freefall against the baht the days of the daft LDOP are almost over.

Hopefully to be followed by the cretinous louts that have started to invade Pattaya every high season.

[nidnoyham 30]

Hopefully to be followed by the cretinous louts that have started to invade Pattaya every high season.

 

We'll miss you monkey.

[monkeyman 1,597]

We'll miss you monkey.

I resent that! I only invade in low season!

[RedRackam 0]

£1 to $1.75 doesn't mean that we'll see 55bht to the pound. It is very possible to see 70 to the pound again with the dollar up at 1.70.

 

Many factors are always pushing and pulling but you'd have to say looking at the long term chart that under 60 it looks real value, ie don't sell Sterling.

 

The trouble is that with the global economy in such a mess and likely to get a lot worse that exchange rate fluctuations are going to get severe and volatile for the next few years. So if the bht weakens take advantage of it, don't play the markets on 'hope'.

 

Another point to consider for anyone that wants to live or retire in Thailand. The FX rate is something that you MUST take into account (always look at the downside, never the upside) because it can easily torpedo your plans.

[MC_Ldop 40]

With money getting tight;

Prices will have to go down;

 

Prices going down?!? Ha! Are you familiar with Thai logic?

[RedRackam 0]

Prices going down?!? Ha! Are you familiar with Thai logic?

 

Yep, good one. Takings are down, profits are down, how can we fix the problem? Raise prices!

 

You can just bet that when they do that and profits are still down nobody can work out why. Wouldn't be surprised if someone suggests that they raise again :)

[dontcha 53]

I think that you will not see above 32 baht to $US, above 48 baht to the € or above 63 baht to £ this year.

My guess is that Sub 30 baht to the $, sub 45 to the € and sub 60 to £ are very likely in the next 6 months.

The $AUD and the $NZD will probably get stronger versus the baht, good times ahead for the men down under

The Euro is at an all time high against the dollar tonight €1 = $1.498

[joekicker 53]

I think that you will not see above 32 baht to $US, above 48 baht to the € or above 63 baht to £ this year.

 

Last Saturday, the offshore baht was at 31.05, today it is 30.15.

 

Inside Thailand, last Friday the TT buying rate was 32.32. At Tuesday’s close it was 32.15

[dontcha 53]

Last Saturday, the offshore baht was at 31.05, today it is 30.15.

 

Inside Thailand, last Friday the TT buying rate was 32.32. At Tuesday’s close it was 32.15

 

I was speaking of cash transactions, the dollar is 31.83baht today and it is now $1.501 To €1 and falling

[ginseng 0]

How did the sudden halving of the Baht effect the bar industry? I would assume it increased it. I can't help but think the doubling of it, though much slower could reduce it if somehow Thailand makes economic strides forward if they shift from exporting to some type of economics that benefits from a strong Baht. On the plus side there may be less LDOPs arriving and drunken louts who are no longer 2 week millionaires but I would not be surprised if some type of socioeconomic shift occurs in Thailand over the next decade and the long foretold ending of the good old days arrives.

[kev0184 12]

all i know is that my card limit is 300UK a day, used to get 20,000baht from machine, went yesterday and was only allowed 18,000, so big swing in the 5mths i have been here this time

[nidnoyham 30]

Another reminder to those about to retire to LOS. Some things you can't plan for, are the exchange rates of your domestic currency to the Baht.

[Eneukman 1]

Another reminder to those about to retire to LOS. Some things you can't plan for, are the exchange rates of your domestic currency to the Baht.

 

Very true. TT internal rate is 63.7 today so a slight improvement.

 

Alan

[Merangue 1]

Seems to be in freefall today after the rumour that the BOT will Revoke Capital Control Measures From Monday

 

Cash Sterling = 61.13

 

USD : 50-100 31.03

 

Thats a hell of a big drop over the last 24 hours

[friendlyric6411 0]

SO how many leg overs to the pound now....