Rate update

[elk 1]

Can anyone post an on the ground rate against sterling please? Is there any sign of getting more baht to the £ or is it looking steady? Any chance it will get over 50?

[maddog13 0]

MM posted this site a few months ago.

 

http://bankexchangerates.daytodaydata.net/default.aspx

[elk 1]

MM posted this site a few months ago.

 

http://bankexchangerates.daytodaydata.net/default.aspx

 

 

Didn't see it, thanks for the swift reply

[Bush Pig 11]

Can anyone post an on the ground rate against sterling please? Is there any sign of getting more baht to the £ or is it looking steady? Any chance it will get over 50?

 

Only if the Uk government stops borrowing money overseas to pay welfare to freelaoders or they find another North Sea Oil field.

[Gawd Elpus 798]

[/color]

 

Only if the Uk government stops borrowing money overseas to pay welfare to freelaoders or they find another North Sea Oil field.

 

The Uk recently bailed out some of its banks with Billions of £. They will have to repay those loans, but over a fairly long period of time. Meanwhile, the very same banks are paying out massive bonuses to their top staff. our money.

 

Thailand has a rice mountain at the moment, because neighbouring countries with a weaker currency are selling cheaper to the world. Sooner or later, this is going to have a big effect on all Thai exports and IMO,[ I am far from any sort of expert in financial matters] they could be forced to devalue. That said, I cant see that having a massive effect on the FX V £ unless the £ begins to strengthen

[gaijin 146]

The Uk recently bailed out some of its banks with Billions of £. They will have to repay those loans, but over a fairly long period of time. Meanwhile, the very same banks are paying out massive bonuses to their top staff. our money.

 

Thailand has a rice mountain at the moment, because neighbouring countries with a weaker currency are selling cheaper to the world. Sooner or later, this is going to have a big effect on all Thai exports and IMO,[ I am far from any sort of expert in financial matters] they could be forced to devalue. That said, I cant see that having a massive effect on the FX V £ unless the £ begins to strengthen

 

 

That's good news, I would love to see the baht devalue to get more value for my dollar when I come next. Getting 30 to 1 is not as good as it was at 45 to the $ a few years ago from what I've heard. Man, if it dropped to 45 to $1 I could be a LDOP!

[glynbuk 29]

i have just come back and i was getting 46 baht to the pound in Pattaya, not good.

[Bazle 1,357]

The Uk recently bailed out some of its banks with Billions of £. They will have to repay those loans, but over a fairly long period of time. Meanwhile, the very same banks are paying out massive bonuses to their top staff. our money.

 

Thailand has a rice mountain at the moment, because neighbouring countries with a weaker currency are selling cheaper to the world. Sooner or later, this is going to have a big effect on all Thai exports and IMO,[ I am far from any sort of expert in financial matters] they could be forced to devalue. That said, I cant see that having a massive effect on the FX V £ unless the £ begins to strengthen

Their currency is, theoretically, not controlled, so there is no-one to do the devaluing. That is not to say that the Central Bank does not probably try to manipulate the market.

 

At the moment, Asian stock markets are soaring - I believe partly because of all the loose money going in from the printing in the US, UK et al. That must be helping to keep Asian currencies high, and maybe push them higher.

 

And ditto you - "I am far from any sort of expert in financial matters"!

[joekicker 53]

Thailand has a rice mountain at the moment, because neighbouring countries with a weaker currency are selling cheaper to the world. Sooner or later, this is going to have a big effect on all Thai exports and IMO,[ I am far from any sort of expert in financial matters] they could be forced to devalue. That said, I cant see that having a massive effect on the FX V £ unless the £ begins to strengthen

 

Thailand just put the price of rice up, because there is a worldwide food problem, including food riots this week in Algeria (where they eat rice).

 

Plus, rice is a relatively small part of total Thai exports. I'd like to have a piece of it, don't get me wrong, but all in all it's just a brick in the export wall. Example: last year, Thailand exported one million cars, pickups and trucks. And rice is just a part of massive agricultural exports, such as Thailand being the world's biggest exporter of processed chicken.

 

In any case, no matter what is up on white rice mountain (that's a pun, son), "they" cannot devalue or revalue or set the baht rate in any manner, and "they" have stated they do not intend to try. The last time they tried, in 1997, the country and most of East Asia went broke in a few days. Thailand certainly cannot set a rate for the baht and live with it for more than a few hours - the free market will bring down the country.

 

The Bank of Thailand buys and sells baht and dollars and other currency to "cushion" the RATE at which the baht rises and falls, to try to smooth out sudden changes. However, there's not a smidgen of evidence anyone has tried to actually establish a baht rate for the past 13-plus years.

 

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[grs90 49]

The pound will definitely go up in value against the baht now.

 

I've just transferred 3K sterling to my kasikorn account and got a GBP to THB rate of 46.61, after taking fees in to account.

 

Now that I've done my money the pound will rise, falling back to a shit rate just at the time I need to do another transfer.

[Bazle 1,357]

In any case, no matter what is up on white rice mountain (that's a pun, son), "they" cannot devalue or revalue or set the baht rate in any manner, and "they" have stated they do not intend to try. The last time they tried, in 1997, the country and most of East Asia went broke in a few days. Thailand certainly cannot set a rate for the baht and live with it for more than a few hours - the free market will bring down the country.

I don't pretend to understand what goes on, but I think there is some sort of "they" out there. You might be able to understand this article better than I can: http://www.economist.com/node/16271489

[Bazle 1,357]

The pound will definitely go up in value against the baht now.

 

I've just transferred 3K sterling to my kasikorn account and got a GBP to THB rate of 46.61, after taking fees in to account.

 

Now that I've done my money the pound will rise, falling back to a shit rate just at the time I need to do another transfer.

I need to do the same thing and I am tempted to do it now; the GBP has had a good day today, particularly against the THB. But after reading your advice, I won't. Do you have insurance

[MCCREADY8 0]

The pound will definitely go up in value against the baht now.

Where did you get your information?

[Bazle 1,357]

Where did you get your information?

Try reading the WHOLE of his post!!

[joekicker 53]

I don't pretend to understand what goes on, but I think there is some sort of "they" out there. You might be able to understand this article better than I can:

 

I don't buy this xrap but it's impossible to prove or refute, it's just a religious belief and I'm an aetheist. My "they" was the Thai central bank and government and I had presumed it was also Patsy's "they".

 

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[jacko 8,577]

Can anyone post an on the ground rate against sterling please? Is there any sign of getting more baht to the £ or is it looking steady? Any chance it will get over 50?

You can always check the rates on the bank sites...

EG SCB

 

It has been holding flat around 46-47 (for cash) for a bit and long and short trends still look downward.

I don't expect to see 50 any time soon as UK economic data will likely take a dive, with increasing inflation and a VAT increase induced slowdown.

 

I bit the bullet and transferred over cash myself only recently, my last prior remittance being during the last improvement to above 50 (August 2010).

[Bush Pig 11]

The currency of a Debt Fuelled Nanny Welfare State that pays half it's population to sit on their arse, commit crime or deal in drugs will only go in one direction relative to a free market economy.

[Bazle 1,357]

The currency of a Debt Fuelled Nanny Welfare State that pays half it's population to sit on their arse, commit crime or deal in drugs will only go in one direction relative to a free market economy.

Have you ever made a post that does not include the words "nanny state"?

[Bush Pig 11]

Have you ever made a post that does not include the words "nanny state"?

 

Of course but in this case it is the most relative factor so denial was not an option.

[chris2004 67]

The pound will definitely go up in value against the baht now.

 

I've just transferred 3K sterling to my kasikorn account and got a GBP to THB rate of 46.61, after taking fees in to account.

 

Now that I've done my money the pound will rise, falling back to a shit rate just at the time I need to do another transfer.

 

I thought i was the only one that happened to. The Pound will never increase until the UK increases it's internal interest rates, so look to at least 1-2 years.