GBP vs THB
- StevePIraq
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Re: GBP vs THB
wow
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
Re: GBP vs THB
If we're getting historical. According to https://www.travelex.co.uk/currency/cur ... gbp-to-thb:
The baht was called the tical until 1925.
"A look back at British pound to Thai baht rates
Way back before 1880, the exchange rate was fixed at eight baht to one British pound, which fell to 10 baht to £1 during the 1880s. By 1902, one British pound was worth 21.75 baht.
In 1908, the baht was fixed to the British pound at a rate of 13 baht to one pound. This was adjusted to 12 baht in 1919 and again adjusted in 1923 to 11 baht to the pound. During World War II, the baht was instead fixed to the Japanese yen, at an on par rate of one yen to one baht.
The post-war baht
After the war, the baht began to be pegged to the US dollar instead at a rate of 20.8 baht to one dollar from 1956 until 1973 (with $2.80 to £1 at this time), and 20 baht to one dollar until 1978. The strengthening of the American economy meant that the baht was repegged at 25 to the dollar from 1984 up until 1997, with the dollar exchanging at around $1.75 to the pound. When 1997 hit, Thailand was stung by the Asian Financial Crisis and was no longer pegged to the dollar. It lost half its value and fell to a value of just 56 baht to the dollar by January 1998."
More at https://www.travelex.co.uk/currency/cur ... gbp-to-thb.
The baht was called the tical until 1925.
"A look back at British pound to Thai baht rates
Way back before 1880, the exchange rate was fixed at eight baht to one British pound, which fell to 10 baht to £1 during the 1880s. By 1902, one British pound was worth 21.75 baht.
In 1908, the baht was fixed to the British pound at a rate of 13 baht to one pound. This was adjusted to 12 baht in 1919 and again adjusted in 1923 to 11 baht to the pound. During World War II, the baht was instead fixed to the Japanese yen, at an on par rate of one yen to one baht.
The post-war baht
After the war, the baht began to be pegged to the US dollar instead at a rate of 20.8 baht to one dollar from 1956 until 1973 (with $2.80 to £1 at this time), and 20 baht to one dollar until 1978. The strengthening of the American economy meant that the baht was repegged at 25 to the dollar from 1984 up until 1997, with the dollar exchanging at around $1.75 to the pound. When 1997 hit, Thailand was stung by the Asian Financial Crisis and was no longer pegged to the dollar. It lost half its value and fell to a value of just 56 baht to the dollar by January 1998."
More at https://www.travelex.co.uk/currency/cur ... gbp-to-thb.
Re: GBP vs THB
Not getting historical, just stating the worst rate I remember as a visitor to Thailand.
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Points 48; Position 18
Points 48; Position 18
Re: GBP vs THB
When we first came on holiday in 1997 we booked it at 40Bt (March) and by the time we went home in early '98 we were getting 96Bt!!
Re: GBP vs THB
Appreciate your comment, and am quite happy if the moderators feel the post should be moved.StevePIraq wrote:But that is against the US$ and this discussion is GBP to the Thai Baht which is what most Brits ae concerned about. Maybe start a GBP to USD thread.
In the last 10 years the GBP has dropped 40% against the Thai baht and may be even worse over a longer period. 10 years ago it was 70.5 baht to the Pound, now 42.
However, as an informative article it provides a macro outlook on the performance of the GBP against its peers and snapshot of of the reasons for traders sentiment. These same reasons are applicable for the depreciation of the pound against the Thai baht. I would guess most people receiving income in Sterling would have some interest in what is happening and why.
'Diplomacy is the art of telling people to go to hell in such a way they ask for directions'. -Winston Churchill-
Re: GBP vs THB
Well, as long as one's income from the UK is appreciating then I suppose the crash in the GBP can be offset a bit.
Other than that - forget it.
I don't care when the Baht was 90 odd to the GBP. I remember it at about 40. I'm sure some people can boast when it was 30 odd.
The reality is that the GBP has depreciated by 20% since June. That's it. The USD is strong now and there are probably manipulations in the value of the THB.
For us Brits, expect the GBP to fall to about 37. It will not improve for many years.
Brexit rules.
Other than that - forget it.
I don't care when the Baht was 90 odd to the GBP. I remember it at about 40. I'm sure some people can boast when it was 30 odd.
The reality is that the GBP has depreciated by 20% since June. That's it. The USD is strong now and there are probably manipulations in the value of the THB.
For us Brits, expect the GBP to fall to about 37. It will not improve for many years.
Brexit rules.
- JimmyGreaves
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Re: GBP vs THB
Well said!lomuamart wrote:Well, as long as one's income from the UK is appreciating then I suppose the crash in the GBP can be offset a bit.
Other than that - forget it.
I don't care when the Baht was 90 odd to the GBP. I remember it at about 40. I'm sure some people can boast when it was 30 odd.
The reality is that the GBP has depreciated by 20% since June. That's it. The USD is strong now and there are probably manipulations in the value of the THB.
For us Brits, expect the GBP to fall to about 37. It will not improve for many years.
Brexit rules.
Diplomacy is the ability to tell a man to go to hell so that he looks forward to making the trip
Re: GBP vs THB
And 10 years ago it was over 2 dollars to the pound. It is relevant what happens to cable. The Thai baht is linked to the USD.StevePIraq wrote:But that is against the US$ and this discussion is GBP to the Thai Baht which is what most Brits ae concerned about. Maybe start a GBP to USD thread.
In the last 10 years the GBP has dropped 40% against the Thai baht and may be even worse over a longer period. 10 years ago it was 70.5 baht to the Pound, now 42.
Back in the day when a pound would get you 30+ baht as some have pointed out, petrol was 7 baht a ltr, cigarettes were 15 baht or less, a beer in Patpong or Pattaya was 35/40 baht. Could name many more but I'm making the point that it's all relative.
- StevePIraq
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Re: GBP vs THB
How is the Thai Baht linked to the USD as it is definitely NOT pegged to the USD which it used to be. In the last 10 years it has fluctuated between 28-37 to US$1. So it really is irrelevant.
The concern here is the exchange rate Brits will get against the Baht with Sterling not Dollar.
The concern here is the exchange rate Brits will get against the Baht with Sterling not Dollar.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
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Re: GBP vs THB
I don't think you understand FX.StevePIraq wrote:How is the Thai Baht linked to the USD as it is definitely NOT pegged to the USD which it used to be. In the last 10 years it has fluctuated between 28-37 to US$1. So it really is irrelevant.
The concern here is the exchange rate Brits will get against the Baht with Sterling not Dollar.
- StevePIraq
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Re: GBP vs THB
I may not but I know the Thai Baht is NOT pegged to the USD, and this is about GBP>THB
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
Re: GBP vs THB
Let's see what happens in the US elections next week, I'm sure much of the market volatility is due to uncertainty surrounding US foreign policy over the next four years.
"A man who does not think for himself, does not think at all."
Wilde
Wilde
Re: GBP vs THB
I think it's fair to say the baht is tied to the US dollar, not pegged, seemingly manipulated by the BOT. It's obviously working for someone?
If Trump gets in, the dollar will tank, presumably followed by the baht and the pound will rise - easy peasy!
If Trump gets in, the dollar will tank, presumably followed by the baht and the pound will rise - easy peasy!
Talk is cheap
Re: GBP vs THB
A big boost to the pound on the latest High Court ruling. Jumped almost one baht in half an hour. Says it all!
Pound to the dollar jumped to 1.24
Pound to the dollar jumped to 1.24
- JimmyGreaves
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Re: GBP vs THB
BBC reports 52 week low at 42.55000 currently reporting 43.59000
Not much to feel happy about a baht up since Brexit and movement down again. A few satangs either way these last 4 months:-(
Not much to feel happy about a baht up since Brexit and movement down again. A few satangs either way these last 4 months:-(
Diplomacy is the ability to tell a man to go to hell so that he looks forward to making the trip