GBP vs THB

[Dr Mike]

The $s (US, Cnd & Aus) have almost recovered from the drop of a few weeks ago. About 3% down

[Pleng]

GPB is still in good shape. 46.27 at the moment. It's a bank holiday in England today, so we'll see what happens when the banks open tomorrow.

[StevePIraq]

Can't see how you can say the GBP is in "good shape" when it has dropped 8% against the Thai Baht in 2 years and down 33% in the last 5 years. Maybe one could say stable but still in intensive care!

A terrible situation for anyone who is on a fixed income from the UK, luckily I am not.

[JimmyGreaves]

GPB is still in good shape. 46.27 at the moment. It's a bank holiday in England today, so we'll see what happens when the banks open tomorrow.

If that's good shape I'm a monkeys uncle!

[Bristolian]

The Pound is definately in poor shape. Any small gains we are seeing are related to the Thai Baht which has weakened a little based on recent economic data coming out of Thailand.

[Dannie Boy]

I think with due respect, the comment about the pound being in good shape was written just after it had increased by about 3 baht following the previous recent low - taken in the wider sphere, of course the pound is still abysmal and regrettably probably won't improve in the short term..................happy to be proved wrong though!!

[Pleng]

Thanks Dannie.

That post was in response to other people who said that their currency had dropped back against the baht, while the pound was (and still is) doing better than it has done for over 16 months.

It's been hovering between 45 and 46 in the days since that post, which is very good shape compared the the 42-43 we'd been seeing previously.

And, Bristolian, the gains were made as a mixed result of a strengthening pound and a weakening baht.

[Nereus]

Asia currencies poised for worst month

http://www.bangkokpost.com/breakingnews ... s-fed-bets
....................................................................................

The baht slumped for a sixth straight week on concern policy makers will stem inflows. Finance Minister Kittiratt Na-Ranong said May 29 that an amended regulation will allow the central bank to set conditions... or collect fees on money coming in or out of the country.

This is probably only directed at big players, but you can never be sure with these clowns.

[sargeant]

collect fees on money coming in or out of the country.

does fees mean tak bat

[midlandmike]

It seems to have improved a little. Guess a lower rate when its high season and a lot of money is being exchanged is good for Thai banks.
Its interesting to look at this thread when it started 5 years ago and the distress expressed when the pound went down to 65b/pound. Now that is the 'good old days'

[PET]

It seems to have improved a little. Guess a lower rate when its high season and a lot of money is being exchanged is good for Thai banks.
Its interesting to look at this thread when it started 5 years ago and the distress expressed when the pound went down to 65b/pound. Now that is the 'good old days'

The reason the Thai Bhat is weaker is twofold, firstly overseas investors have sold a large amount of Thai securities and secondly the benchmark interest rate was cut 25 base points to 2.5%

[musungu]

The economy in Japan has improved considerably this year and the low value of the Yen could well make life difficult for Thailand and other countries in the Asean group who export Hi Tec products, because this represents serious competition.

It was this senario that brought about the collapse of the Thai Baht ( and other Asean currencies) in the late 90's, so this may be good news for those pensioners relying upon sterling pensions etc, because the Baht will weaken if this situation continues.

[Bristolian]

But.... If the Baht weakens it will be better for any money transferred from the UK. Good news for pensioners?

[JimmyGreaves]

47.033

[usual suspect]

I've just read today that (not solely, but) due to the Thai goverment's farce with the rice buying scheme, it's credit-rating on the world money market is looking like tumbling down the ladder somewhat..?
Couple this to China's economy not doing to good just now..(Thailand therefore seeing it's exports cut).
This MAY just hit the B.O.T. with a double-blow, & May see the rate of the Baht improve for us that pull our
funds in from overseas..???