Been hearing some Doom Mongers ranting on about how the £ is (apparently going to tank big time.
An article in the Phuket Gazette has allegedly stated the £ is accurately forcast to dive down to the depths of the £1 = 50 baht.
For me if that ever happens I know the PI or S. America will be beckoning!
I know I'm not the only one reliant on the strength of the £ so wonder what some of the other expats have heard...
Incidentaly I reckon if it does tank then the $ will almost certainly be on it's tail as well....
Interesting! I was actually thinking strongly of getting a load of money OUT this country because I reckon the BAHT is going to tank! Hasn't it been artificially held up and isn't there going to be a lot of trouble in Thailand once the army can't accept the election result?
I think it is very difficult to predict where which currency is going. The best solution is to spread it around a bit. That way you can use the one doing the best at that time.
I'm no financial expert but I think it'll dip a little following the downturn in the economy but nothing major to worry about.
Personally I'd like the arse to fall out of it as I earn here in Thailand, but echo Jockey's comments in that I'm more worried about the strong baht falling off its perch again.
I don't think the greenback can stay this low forever either, it will turn around, all economies are generally cyclical.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Sure is buster and it's going down hard! Feel the pain! <55 - 61 8% [ 1 ]
It'll dip alright, but nothing too major. Courage! 62 - 67 33% [ 4 ]
It's going to hold steady. 67 - 69 50% [ 6 ]
The £ going for a fall? Are you crazy? The Sky's the limit man! 72 - 85 8% [ 1 ]
The baht rose 0.1 percent to 31.56 versus the dollar in onshore trading as of 4:39 p.m. in Bangkok, compared with 31.59 yesterday and 31.58 last week according to data compiled by Bloomberg. The currency may reach 29.20 by year-end, Singapore- based Cheung said.
The pound will probably follow this path, ending the year around 60 , may drop slightly below.
I've been short the pound for a while now. I think sterling could fall a lot further especially against the baht.
- the uk has a balance of trade deficit; Thailand has a trade surplus. North Sea oil is running out which will increase the uk's trade deficit.
- the uk's principle export is financial services which is in the doldrums; Thailand's is food which is booming.
- the level of debt is high in the uk which constrains the bank from putting up interest rates.
Trying to accurately predict currency movements is impossible, but it would be prudent if one is living in Thailand to put as much of one's savings in baht as possible, or at least to get it out of pound sterling.
