The rate on the street.

[jacko 8,822]

2 hours ago, sinbinjack said:

Any news of how the pound is doing on the streets of Pattaya during this horrible crisis.

Well most exchange places are closed, and on the markets the pound is doing quite poorly against the baht, so I would expect around 38.5. I was in BigCX Mall yesterday to see it start to open up, but for once didn't take a look at the TT Exchange in there. I took a pic a week prior but their display is behind glass and it always comes out with a lot of reflection and near useless. I will get one sometime soon. 

Edited May 17, 2020 by jacko

[yselmike 397]

45 minutes ago, jacko said:

Well most exchange places are closed, and on the markets the pound is doing quite poorly against the baht, so I would expect around 38.5. I was in BigCX Mall yesterday to see it start to open up, but for once didn't take a look at the TT Exchange in there. I took a pic a week prior but their display is behind glass and it always comes out with a lot of reflection and near useless. I will get one sometime soon. 

It's 38.52 on the TT Web site.

[midlifecrisis 4,048]

I forgot all about currency exchange but of course it still exists, by necessity. World banking seems alive and well.

Not a criticism btw.

[Butch 3,456]

I think it's across the board, the GBP has dropped to 61.6 against the php, well over 10% since all this started.

[Butch 3,456]

just this minute checked the TT site.

GBP : 38.75

USD : 31.73

AUD : 20.58

EUR : 34.60

Lastly, RUB : 0.33

Ouch. They can open the doors tomorrow, but at 38.7 baht I won't be bloody going there!.

Edited May 19, 2020 by Butch

[accyboy 78]

Omg ? 38.75 Cambodia is calling !!!

[teelack 9,645]

I really wonder, unless your living in Asia now what the relevance of exchange rates are?

Who can possibly see what the rate situation will be a year from now? I guess that none of us know which countries will bounce back and go full steam and consequently have an appreciating currency. There will be countries that tank and in addition to that we dont know for instance if all the bad news regarding Thai tourism will lead to a devaluation. I also note this on my bank web site. It is indicative of the lack of knowledge about the current and near future situation. Then there is the inponderable. If and when Thailand opens up will it still be the place to go? Will it take the opportunity to become the long promised 'Familly destination' or will it be business as usual? 

There are so many issues and so much water to flow before most of even contemplate a return visit, that its all irrelevant. The only real down side to the low exchange rate with the Thai baht is that its yet another impediment to sending money and supporting anyone who is doing it tough. 

PLEASE NOTE | TSB is currently providing limited foreign cash services until further notice - View changes here. We have also had to pause all foreign cheques and the sale and reload of Cash Passports in branch until further notice. 
 

[jacko 8,822]

As promised, a crappy pic!

[tombon 113]

£ dipping back to pre virus levels. Obviously will not affect tourists but will have a big impact on British expats.

Edited May 24, 2020 by tombon

[jacko 8,822]

5 hours ago, tombon said:

£ dipping back to pre virus levels. Obviously will not affect tourists but will have a big impact on British expats.

I think of it as levels before Brexit actually happened.... I hate to admit this but UK is driving itself towards a bad future. 

[la8rat 1,022]

4 hours ago, jacko said:

I think of it as levels before Brexit actually happened.... I hate to admit this but UK is driving itself towards a bad future. 

I'd have to disagree with you, just for a change there jacko ?

We got out just in time. The EU is disintegrating in front of our very eyes. It's every man for himself and fuck unity. 

[jacko 8,822]

1 hour ago, la8rat said:

I'd have to disagree with you, just for a change there jacko ?

We got out just in time. The EU is disintegrating in front of our very eyes. It's every man for himself and fuck unity. 

No no, do not get me wrong, I want out, very much so.

But the Covid measures and the economy and the spending now are frightening new ogres. 

[Butch 3,456]

There is talk of negative interest rates here (not sure how that would work). This current stress will seriously weaken the Sterling. I think Torrenova said a while ago that we should be basing our figures on 25 baht to the pound. I think we can all agree, none of us saw the irony in that statement.

I'll have even money on the lowest ever recorded sterling to baht within the next 5 weeks. I'm going with 33.8 as a bottom line.

Edited May 25, 2020 by Butch

[safc 6]

On 5/25/2020 at 3:01 AM, la8rat said:

I'd have to disagree with you, just for a change there jacko ?

We got out just in time. The EU is disintegrating in front of our very eyes. It's every man for himself and fuck unity. 

Only in your eyes.

[la8rat 1,022]

36 minutes ago, safc said:

Only in your eyes.

I think you'll find I'd be in a majority with my view. So not only in my eyes. 

You are of course entitled to your opinion. I'm going to guess you live south of Watford gap. 

[safc 6]

On 5/27/2020 at 10:54 AM, la8rat said:

I think you'll find I'd be in a majority with my view. So not only in my eyes. 

You are of course entitled to your opinion. I'm going to guess you live south of Watford gap. 

rate today 39.5,rate pre brexit vote 51.5,a nice 20%+ drop,btw i dont live in the UK or thailand.

[jacko 8,822]

 

4 hours ago, safc said:

rate today 39.5,rate pre brexit vote 51.5,a nice 20%+ drop,btw i dont live in the UK or thailand.

You have set your location as UK..... 

Edited June 10, 2020 by jacko

[safc 6]

17 hours ago, jacko said:

 

You have set your location as UK..... 

so i have,needs changing to PT

[Butch 3,456]

38 dead according to the website, plus some worrying news coming out of London regarding how close the UK was to defaulting at the start of all this. FTSE been depressed all day as well.

[Butch 3,456]

GBP 37.82

A seriously hard kick in the nuts there, looks like the next "threshold" of bad news will be if it drops under the 35 baht barrier.

Shit it.

[jacko 8,822]

5 hours ago, Butch said:

GBP 37.82

A seriously hard kick in the nuts there, looks like the next "threshold" of bad news will be if it drops under the 35 baht barrier.

Shit it.

It is what the BofE is doing, tied in with the predictions of how the UK Economy will fall more than that ot the other developed nations.

[midlifecrisis 4,048]

1 hour ago, jacko said:

It is what the BofE is doing, tied in with the predictions of how the UK Economy will fall more than that ot the other developed nations.

Do you agree with that assessment? Short term? Long term? Just curious.

[jacko 8,822]

1 hour ago, midlifecrisis said:

Do you agree with that assessment? Short term? Long term? Just curious.

I have to accept the predictions of those who likely know better than me, so yes. Short term I hope. Many felt Thailand's currency would fall with Covid, well so far it has not, relative to Sterling, and it has improved against the USD.

[midlifecrisis 4,048]

51 minutes ago, jacko said:

I have to accept the predictions of those who likely know better than me, so yes. Short term I hope. Many felt Thailand's currency would fall with Covid, well so far it has not, relative to Sterling, and it has improved against the USD.

With all the money we have printed lately, I hope in a way others benefit. This thing about a nation's currency...even after 50 years of paying attention is difficult to grasp at times.

I hope you and your countrymen do well and far into the future. Thanks for your perspective!

[tombon 113]

Quantitative easing was the main reason the £ dropped post 2008 banking crisis. The BOE as printed £100 billion recently to help stabilise the uk economy. More QE is the reason the £ as dropped. 

Thailand doesnt need to print money, they can borrow it from the markets. As they dont need the same level of bailout like the UK.

In my opinion the £ will not recover in the short and medium term. It will be 20+ years if we see 50 baht to £1.