exchange rates low!

Post by **Jim** » Thu Jan 10, 2008 9:34 pm

I am currently working on some tediously fangled currency financial products. One major European bank is forecasting baht/pound of 44 next year!!!!!!!!!!!!!!!!!!!!!!! What is that going to do to the tourist industry?

Post by **Onlyme** » Thu Jan 10, 2008 9:44 pm

I'd like to hazzard at a guess: What's happening in Europe and America will definately affect these shores.
Put another way: What's the cost of oil going to do to Thailand!
Jim. If the pound sinks to 44 baht, I'll give you my car!

PS. The dates have to be as per yours.
PPS. The Thais will be saying.....Mai hen tong tiow laai pii ti leaow.

Post by **Big Boy** » Fri Jan 11, 2008 7:52 pm

Bangkok Bank site says down to 63.5 today.

However, I still think I'll take alot of this doom and gloom stuff with a pinch of salt.

About this time last year there was a similar thread with all of the 'experts' predicting the exact opposite. Expats were delighted at how much their Pound would buy later in the year. There were several recollections of the Pound achieving over 90 Baht to the Pound.

The doom merchants were saying that Thailand would effectively die because they would not be competetive in the worldwide market. If 65 to 70 Baht to the Pound make them non-competitive, what would 44 Baht to the Pound bring? Mass unemployment, businesses baling out of the country etc.

Post by **PAINTER01** » Sat Jan 26, 2008 1:16 am

I,ve just sent monies over for "lease" of house HSBC offered me 55 baht to Â£1.00 if I changed the money in the UK before transfer. I wired in to the builders acc and got 65.5 to one pound.

Post by **norm** » Sat Jan 26, 2008 8:53 am

I've given up trying to determine what the exchange rates are going to be in the future. Now once a year I shift enough money into LOS to last me for a year and to satisfy my retirement visa. Unless it is a really outrageous exchange rate I just do it and forget it for a year. Might not be a brillant way to go but it is the least stressful.

Post by **JimmyGreaves** » Fri Feb 08, 2008 8:58 pm

down down deeper and down

BRITISH POUND STERLING TT RATE= 63.70875 NOTES= 62.81

Buying big ticket items House/Car getting more expensive!

Post by **crazy88** » Fri Feb 08, 2008 9:04 pm

Just over 65 three days ago on a transfer from HSBC to Ayudyha Hua Hin .Just over 64 same transfer method a couple of weeks ago .UK banks (if anyone is ill-informed enough to use them ?) are running out around 52-56 to the pound plus charges !

crazy88

Post by **JimmyGreaves** » Wed Feb 20, 2008 2:21 pm

Trend still going down, now at 62++. Maybe 60 soon but I hope not.

BRITISH POUND STERLING
TT Rate = 62.9625
Travellers Cheques = 62.7125
Notes = 62.06375

ozuncle · Post by **ozuncle** » Wed Feb 20, 2008 2:43 pm

Aus Dollar still very strong.
Currently 29.67 (T/T)

Post by **JimmyGreaves** » Thu Feb 28, 2008 3:37 pm

Very worrying. Offshore rate below 60.

Live rates at 2008.02.28 08:34:30 UTC

Notice:
The THB rate shown below is the international rate. Rates used within Thailand may vary

1.00 GBP = 58.8491 THB

Post by **lomuamart** » Thu Feb 28, 2008 5:15 pm

It is scary. If you think about it, there's been around a 13% devaluation for the pound since the onshore/offshore rates came into play - assuming 67 to pound before.
Ok, people living here will get the onshore rate if they transfer wisely or use ATM card, but the trend is downwards.
As we all probably know, the new government is thinking about doing away with the two exchange rates. Certainly, Thai exports won't be too competitive and tourism must eventually be adversely affected.
But don't worry. Toxin's back and he'll set the country to rights in a jiffy.

Post by **JimmyGreaves** » Thu Feb 28, 2008 6:21 pm

lomuamart wrote: But don't worry. Toxin's back and he'll set the country to rights in a jiffy.

Yes the maestro is is back. I'm so happy, My Arse!

Post by **richard** » Fri Feb 29, 2008 2:09 am

The real problem is with the guys relying on pension income coming in on a monthly basis and all they see is erosion and think of the implications regarding retirement visa renewal

Post by **lockwood74** » Fri Feb 29, 2008 3:33 am

I had a long conversation with a friend of mine who is a money trader in the city (london) today.
He said that the pound will continue to tkae a battering. Bad news as I have to exchange from pounds to Baht.

I think the real estate in Hua Hin is going to come crashing down as European money starts to freeze up.

Im now in the Uk so am not sure what the property market is doing in Hua Hin, but when I came in December it seemed to have slowed since I came in July before then.

I would be interested to know the real picture and comments regarding business in Hua Hin.

It wouldnt surprise me if the Baht went as low as 60 / 61 this year (BKK bank rate in thailand)

Wouldnt surprise me if we see a nother Asian crisis in 2009 as things start to spread from USA to Europe then to Asia.

Hold on the trouble is coming

John

Post by **Big Boy** » Fri Feb 29, 2008 5:03 am

lockwood74 wrote:

It wouldnt surprise me if the Baht went as low as 60 / 61 this year (BKK bank rate in thailand)

It dropped to 61 on 2 occassions last week. Its not much above 61 this week.

Hua Hin Forum

exchange rates low!

RATE OF EXCHANGE

Pound in the s**t