GBP vs THB

[oakdale160]

It is so complicated. The pound is fixed not against the baht but against the $US and Euro and both of those currencies have reasons to be unstable, add the bahts natural fluctuations and its a real juggling act. Money traders are usually looking months ahead and perhaps the pounds drop due to Brexit has already been figured in. My guess, which is,of course, 100% reliable(!!!!) is that the Pound/baht rate will drop a little below 40 by next month.

[centermid7]

It is so complicated. The pound is fixed not against the baht but against the $US and Euro and both of those currencies have reasons to be unstable, add the bahts natural fluctuations and its a real juggling act. Money traders are usually looking months ahead and perhaps the pounds drop due to Brexit has already been figured in. My guess, which is,of course, 100% reliable(!!!!) is that the Pound/baht rate will drop a little below 40 by next month.

The pound is "fixed" against the $US and the Euro ??? And both of those have reasons to be unstable but not the pound even in the face of Brexit?

Are you feeling well? Time for your medication perhaps?

[HHTel]

The pound is fixed not against the baht but against the $US and Euro

It's not fixed against any currency. In 1940 it was pegged with the dollar but was, and has been ever since, floated in 1971.

[oakdale160]

Im sorry, fixed is the wrong word, that is the status between the US$ and HK$ for instance.

[oakdale160]

Considering the chaos and uncertainty in the UK it amazes me that the GBP/ $, Eu, THB rates have been so stable

[HHTel]

GBP jumped to over 42 on the news that the poor showing in the council elections would force an added impetus on getting a deal with labour. Then dropped to 41.25 when it was leaked that they were far from a deal!
Currently showing at 41.40.

[Dannie Boy]

I transferred some money from the UK on Monday and got 41.14

[HHTel]

The beauty about Transferwise is that you get the XE rate at that point in time when you apply for the transfer. So a transfer on Monday would have got you slightly over the 42 even though it dropped rapidly the next day.

[Governor]

I’ve just started reading this thread and noticed that at the start people were hurting when the rate was slipping to the mid 60’s, how we wish those days would return, it was 72 when I first moved here.
I’m also a big fan of TransferWise, the down side, for those using the monthly income method to extend stays, is they use local banks to complete the transfers which doesn’t satisfy our friends in Immigration, though this can be got round.


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[Big Boy]

I’m also a big fan of TransferWise, the down side, for those using the monthly income method to extend stays, is they use local banks to complete the transfers which doesn’t satisfy our friends in Immigration, though this can be got round.

Is this a fact, or is it bar talk/scaremongering? If a fact, can you please expand, especially the 'can be got round' element?

[sateeb]

Mods:

Maybe it would be wise to move the posts about Transferwise to a new or more appropriate thread as it could affect many of us.

Cheers

[Big Boy]

Agreed - moved to this thread viewtopic.php?f=9&t=37716

[oakdale160]

72b >>41b and inflation of 30-50% in that time combine those 2 stats it means spending power of the pound is about 40% of what it was then.

[Big Boy]

Glancing at exchange booths today, 41 Baht/£ would be good - I was seeing 39.

[oakdale160]

Has the rate in exchange booths ever been below 40 before now??