The rate on the street.

[midlifecrisis 4,048]

20 minutes ago, marleyboy said:

Jeez!!!!!! 

Its getting lower and lower!.Where will it end up? "Maybe" if Brexit gets some way "sorted out"....it may climb up a few baht....doubt it though!

Luckily im getting older, so dont drink or fuck as much as I used to!!!

Also luckily I bought a house over there a few years ago when the exchange was almost double what it is today.

Next trip for me is in September..........christ knows how low it will be then!!

Finally feeling better about getting old.

I had baht and sold it here years ago. I wish I kept it but maybe with the new king the old money wouldn't be accepted.

I will just have to be more frugal. No parties like I used to at FLB and Cherry Bar. Just quiet bar beer evenings and a couple trips to see naked dancers. Lots of ways to get laid there if you don't want a Mercedes and can settle for a VW. Still a decent ride.

[yselmike 390]

The € has gone under 35 so that's definitely over for my annual trip,I don't see any reason why it shouldn't keep falling at least till they get a final decision on what the UK will do over Brexit.Its all doom and gloom unless you have decent funds then you will have a great time because the European and Brit may be thin on the ground soon especially the two week millionaires,fill your boots.

[Butch 3,456]

I don't want to TF, but I'm beginning to wish I'd voted remain if this is the effect Brexit has on the GBP and EU.

Predictions are mid 30's by Q1 2020. Fuck.

[teelack 9,638]

The € has gone under 35 so that's definitely over for my annual trip,I don't see any reason why it shouldn't keep falling at least till they get a final decision on what the UK will do over Brexit.Its all doom and gloom unless you have decent funds then you will have a great time because the European and Brit may be thin on the ground soon especially the two week millionaires,fill your boots.

Just a couple of days ago I was in Pattaya. The rate was 39/40 and certainly not 35. Cherry picking the lowest rate do not make this the rate that you have to buy at. Airport /Travelex rates are not typical. In dozens of trips over many years I have never used one of these second tier exchanges. Typically they are about 10% less than say TT so why would I?

Sent from my Nokia 6.1 using Tapatalk

[yselmike 390]

1 hour ago, teelack said:

Just a couple of days ago I was in Pattaya. The rate was 39/40 and certainly not 35. Cherry picking the lowest rate do not make this the rate that you have to buy at. Airport /Travelex rates are not typical. In dozens of trips over many years I have never used one of these second tier exchanges. Typically they are about 10% less than say TT so why would I?

Sent from my Nokia 6.1 using Tapatalk
 

I am quoting the Superrich rates for the euro in Thailand from their web site not the pound,I usually bring cash.the TT exchange in Pattaya gives a rate about the same.the € and the £ are struggling.

[teelack 9,638]

1 hour ago, yselmike said:

I am quoting the Superrich rates for the euro in Thailand from their web site not the pound,I usually bring cash.the TT exchange in Pattaya gives a rate about the same.the € and the £ are struggling.

Thanks for the reply.  For us oldies the Euro sign and the Sterling one looks similar. 

[midlifecrisis 4,048]

3 minutes ago, teelack said:

Thanks for the reply.  For us oldies the Euro sign and the Sterling one looks similar. 

Reading classes?

I am already there, sort of.

I had both eyes done for cataracts. One eye is distance and the other near. They call it monovision. So at 68 I can sit here at the cpu or read a book without glasses. Driving = glasses for depth perception. CPU and reading is basically two dimensional. I did it for a number of years working. You adjust. I can watch TV with my right eye or at the movies but I wear glasses for those too. Might miss a nipple with my left eye.

 

[yselmike 390]

10 hours ago, teelack said:

Thanks for the reply.  For us oldies the Euro sign and the Sterling one looks similar. 

It's getting worse nearer 34 for a € now according to a photo of a TT exchange on another forum 

[Bob Belzy 150]

There is a fair amount of misinformed talk about exchange rates these days, so I thought it worth looking at how a number of currencies are faring against the THB. Lots of currencies left out, but this captures those that I think most BMs are interested in. Graphs courtesy of xe.com

Its fairly evident that the changes are a result of the perceived strength of the Thai economy, not the weakness of an other. So a slap to the Remoaners perhaps?

 

 

[midlifecrisis 4,048]

The question is why is the baht so strong? or is ours (all of us) weak?

[Bob Belzy 150]

37 minutes ago, midlifecrisis said:

The question is why is the baht so strong? or is ours (all of us) weak?

The short answer is that globalist industrial/financial giants effectively control economies these days, not governments. Governments  still fiddle with interest rates, but that has bugger all effect these days. Thailand is perceived as a good investment option, who knows all the reasons for that, thus its currency rises. Now that is good for importers, but lousy for exporters, so eventually will the THB bubble burst?

[midlifecrisis 4,048]

11 hours ago, Bob Belzy said:

The short answer is that globalist industrial/financial giants effectively control economies these days, not governments. Governments  still fiddle with interest rates, but that has bugger all effect these days. Thailand is perceived as a good investment option, who knows all the reasons for that, thus its currency rises. Now that is good for importers, but lousy for exporters, so eventually will the THB bubble burst?

Thanks!

[jacko 8,814]

A  lot of money pouring into Thailand, big development plans in the pipeline.

Roads and trains from the North, high speed transport links between port facilities and industrial cities. Eastern seaboard major projects.

China will own this place soon!

And another strange circumstance, Thailand has a healthy balance with exports being 2/3 of GDP and growth at around 4% with low inflation. It sits on a lot of foreign reserves rather than a mountain of debt. Thailand had a trade surplus for the first 4 months of this year.  Doesn't Thailand make most of the vehicles sold from down under to  USA.

In 2015, the production of cars in Thailand was 1.9 million cars with 800,000 cars sold domestically and 1.2 cars exported. There were also 1.8 motorcycles produced, with domestic sales of 1.6 million and exports of 350,000 units.

It isn't the basket case a few sitting in quiet soi Buakhao barstools complaining of WS prices might think. 

[jacko 8,814]

Oh, and as to exchange rates. Transfer your Sterling to SCB this morning, you get 38.80125 baht/£.

Use Tranferwise, you get 39.07. The 39 barrier likely to be breached at TT soon!

[Bob Belzy 150]

The traders must like Boris.

[Rawhide2 1,343]

Until Sterling returns to a higher level against the USD we are stuck at these levels.  Sod all to do with strength of the Baht which has been sat between $31-33 for some years now. Course it would be nice if it would weaken out to 34/35 but its a big mistake to be blaming the Baht when the problem is Sterlings weakness against the Dollar and you can add the Euro and AUD against the Dollar as well for those nations.

[jacko 8,814]

8 hours ago, Rawhide2 said:

Until Sterling returns to a higher level against the USD we are stuck at these levels.  Sod all to do with strength of the Baht which has been sat between $31-33 for some years now. Course it would be nice if it would weaken out to 34/35 but its a big mistake to be blaming the Baht when the problem is Sterlings weakness against the Dollar and you can add the Euro and AUD against the Dollar as well for those nations.

It is all of the above. The baht has strengthened, sterling has nose dived, dollar has weakened. Hard to get a reference with currencies, but to assume the USD is fixed and nailed is simplistic. 

To say that baht has remained between 31-33 for some years now is misleading and actually wrong. Baht strength is in that recent time frame. For many years it was held and steady at 33/$. At the end of 2015, due to political reasons in Thailand it rose to 35.5.. For a spell after that it more or less held its own until the beginning of 2017, and since then baht has strengthened relative to $ to a sub 31.5 . (12% is quite some movement for a currency that previously was locked to USD). 

Incorrect to say it is sod all to do with baht strength, perhaps dollar weakness is another way to put it.! Recent events in the Persian Gulf and all. 

 

Edited June 18, 2019 by jacko

[yselmike 390]

5 hours ago, Rawhide2 said:

Until Sterling returns to a higher level against the USD we are stuck at these levels.  Sod all to do with strength of the Baht which has been sat between $31-33 for some years now. Course it would be nice if it would weaken out to 34/35 but its a big mistake to be blaming the Baht when the problem is Sterlings weakness against the Dollar and you can add the Euro and AUD against the Dollar as well for those nations.

The problem with the £ and € is all about how low will they go? Nobody really knows only that it looks like they will keep sliding downwards for me 36 for a euro is my cut off point, normally I book my flight for January in June not gonna happen now.Pity really just seen a flight with Etihad airways for under €500.

 

[midlifecrisis 4,048]

Currency is traded but what makes the USD unique is that it is a reserve currency the world trades with. That keeps it more stable. A wildly fluctuating USD isn't good for world business. A gradual decline here and there is not generally an issue except for folks like us. I am not an expert by any means on currencies and when I travel overseas I am at the mercy of the current rate.

A global currency is one that is accepted for trade throughout the world. Some of the world's currencies are accepted for most international transactions. The most popular are the U.S. dollar, the euro, and the yen. Another name for a global currency is the reserve currency.

Of these, the U.S. dollar is the most popular. As of the third quarter of 2018, it makes up nearly 62 percent of all known central bank foreign exchange reserves. That makes it the de facto global currency, even though it doesn't hold an official title.

The next closest reserve currency is the euro. Nearly 21 percent of known central bank foreign currency reserves were in euros as of the third quarter of 2018. The chance of the euro becoming a world currency increases as the eurozone crisis fades. However, the crisis highlights the difficulties of ever using the euro as a world currency. 

https://www.thebalance.com/world-currency-3305931

[Rawhide2 1,343]

4 hours ago, jacko said:

It is all of the above. The baht has strengthened, sterling has nose dived, dollar has weakened. Hard to get a reference with currencies, but to assume the USD is fixed and nailed is simplistic. 

To say that baht has remained between 31-33 for some years now is misleading and actually wrong. Baht strength is in that recent time frame. For many years it was held and steady at 33/$. At the end of 2015, due to political reasons in Thailand it rose to 35.5.. For a spell after that it more or less held its own until the beginning of 2017, and since then baht has strengthened relative to $ to a sub 31.5 . (12% is quite some movement for a currency that previously was locked to USD). 

Incorrect to say it is sod all to do with baht strength, perhaps dollar weakness is another way to put it.! Recent events in the Persian Gulf and all. 

 

 I know how foreign exchange works.  The hard facts are there has been no significant increase in the value against the Dollar for some years again fluctuating between 31-33, recently it weakened out to 32 but has strengthened again to a live rate of 31.35 at time of post. Nor anywhere did I say the rate is fixed against the Dollar. Again yes it would be nice if it weakened out to 34/35 as Kasiskorn were predicting it would be in June/July

Our sole problem is Sterling/Dollar as Brits. Pre rererendum it was $1.55 and today its $1.26 meaning that if we were still at pre referendum levels todays exchange rate at yellow TTs would be 48.40 give or take a few satang

Your words....."Incorrect to say it is sod all to do with baht strength, perhaps dollar weakness is another way to put it"

lol you cant have it both ways. How can Dollar weakness be the case when we're sat at $1.26 instead of the $1.55 pre June 2016.

Am not teaching granny to suck eggs here hopefully but am not sure you understand how foreign exchange is calculated

Sterling/Dollar is multiplied by Dollar/Baht.  Weakness or strength on either side of the currency pairings effects the bottom line we all see

Hard facts are even if Sterling only returned to $1.50 today we'd be seeing around 47 at TT exchanges. Thata with zero movement in the Dollar/Baht ratio

The recent decline into the 30's is purely Sterling/Dollar retracting from $1.32 down to $1.26

Edited June 18, 2019 by Rawhide2

[Rawhide2 1,343]

4 hours ago, yselmike said:

The problem with the £ and € is all about how low will they go? Nobody really knows only that it looks like they will keep sliding downwards for me 36 for a euro is my cut off point, normally I book my flight for January in June not gonna happen now.Pity really just seen a flight with Etihad airways for under €500.

 

If Brexit were to be sorted today to the satisfaction of most people Sterling would surge against the Dollar and likewise Euro would gain traction against the USD

Traders are of the opinion Sterling would return to around $1.40 within a week of Brexit being sorted up some 15 cents from today

[jacko 8,814]

51 minutes ago, Rawhide2 said:

The recent decline into the 30's is purely Sterling/Dollar retracting from $1.32 down to $1.26

I accept the by far major component is, as you say, but to ignore how the US $ buys fewer baht too is to leave out a component. 

I do post the exchange rates regularly. People are getting fewer baht for their Euro, their Oz$, NZ$, Yen and Korean Won. It seemed to start the end of last year. 

There is an appreciation of the Thai currency, it is in the news here. 

Fiscal Policy Office director Mr Sovich Rojanavanich attributed the steady appreciation of the baht currency to the inflow of capital for investment in short-term debt instruments .(Today)

I do hope you are correct. I have not sent money into Thailand to live off for some time hoping this Brexit shit would be 'resolved'. Others I have talked to agree that Sterling should recover quickly and are 'bullish' I think the term is. Although a No-deal could send it the other way surely! End of bloody October, and even that might not be the end!

Edited June 18, 2019 by jacko

[yselmike 390]

4 hours ago, Rawhide2 said:

If Brexit were to be sorted today to the satisfaction of most people Sterling would surge against the Dollar and likewise Euro would gain traction against the USD

Traders are of the opinion Sterling would return to around $1.40 within a week of Brexit being sorted up some 15 cents from today

As you clearly are on the same page as the daily EXPRESS you forgot to use capitals,it should be SURGE and TRACTION and UP.

[teelack 9,638]

Neither sterling or the $US are typical currencies for reasons mentioned in the topic. To get a better perspective look at the Dollars for Australia and New Zealand. Both currencies have tanked by around 25% against the baht in recent years. This is not weakness in either country, more the appreciation of the baht against many currencies.

Sent from my Nokia 6.1 using Tapatalk

[jacko 8,814]

I am not doing Pattaya any favours by posting this, people will stay home instead!

Don't ask me why it says Thursday!