thai baht where is it going

[Big Boy]

bozzman101 wrote:

i remember when a quid was 144 pence

Obviously not worth as much on the Isle of Man as it was on the mainland. 144 pence was only worth 12 shillings.

A quid in England was worth 240 pence.

[richard]

Well done Big Boy

And in my youth it equated to I night out on 4 pints off Hull Brewery, Pie,mushys and chips and gravy and then a night out with a lass from the Locarno ballroom

ps No bar fines in Ull

[STEVE G]

..and then a night out with a lass from the Locarno ballroom

Richard, Hull girls were more expensive in those days then?

[JimboPSM]

bozzman101 wrote:

i remember when a quid was 144 pence

Obviously not worth as much on the Isle of Man as it was on the mainland. 144 pence was only worth 12 shillings.

A quid in England was worth 240 pence.

BB, I think you may have the wrong poster, as far as I am aware bozzman101 is not from the IoM, and probably not working in the finance sector.

Rather sadly, I have monthly records going back to 1981, following figures are all monthly average buy / sell rates. In January 1981 GBP was 49.6522 and USD 20.6467, since then GBP & USD have had following highs and lows:

• Highs:
  GBP Jan 1998 – 87.8373
  USD Jan 1998 – 53.738
  
  Lows:
  GBP Oct 1984 – 28.0788
  USD Jan 1981 – 20.6467

[STEVE G]

As for the 0.25 rate rise in the UK, the surprise was that it came a month earlier than expected. Now it remains to be seen if there is another rise next month, or if this is it for now.

[Mack111]

I think most the Asian currencies are on the up just now.

I'm not so sure the USD will recover so strongly (but saying that I’m an engineer and not a financial bloke so don’t listen to much to me)

But I do know the Russians and a few other major oil exporters are planning on selling Oil & Gas in Euro this year even it the Ruskies planning on selling in there own currency which means a lesser requirement for USD reserves for other counties. If this trends kicks off with oil and benefits the big oil companies then the raw material suppliers will follow suit who at presently almost all sell internationally in USD.

[sargeant]

I just discussed this thread with Mrs Sarge my chancellor the .25% made her frown the oil in euros and roubles glazed them over and commoditys in shekels she passed out i have been fanning her with a bit of cardboard for half an hour and my arm aches

Please be more carefull as small childre like umwah can be very frightened by all this
Please keep it simple like me

[Mack111]

Hey Sarge your lucky, my chancellor only knows monitory values of handbags, watches, G&T's, ear rings etc,

in fairness to her she can sniff out a sale across a continent

[sargeant]

Mine to mack she just came round and said Rice not go up
Got her prioritys right

She is also as tight as a veritable ducks whatsit and when bartering Attilla the huns genes come pouring forth i always feel sorry for the vendor

[JimboPSM]

I'm not so sure the USD will recover so strongly (but saying that I’m an engineer and not a financial bloke so don’t listen to much to me)

I am fairly sure that the USD is in big financial trouble and is a very long way from recovery.

The US has two major financial problems:
1. the foreign trade deficit - on average, the US imports every month approximately 60 billion dollars worth of goods more than it exports.
2. the budget deficit - on average each year over the last six years the US Government has spent nearly 500 billion dollars more than it has collected in taxes.

Both these problems are impacting on the USD/THB rate, just take a look at charts of USD/THB since 2000 on the internet, the USD has been more or less been in continual decline since early 2001 (I would upload my own charts but can't find any way to do it).

The last six financial years from 1 October 2000 to 30 September 2006 has seen the US National Debt increase by 50%, the actual figures from US Gov't Financial Statements (in trillions of dollars) are an increase of 2.971 from 5.945 to 8.916 - US Government financial statements are available at http://fms.treas.gov/fr/index.html

[Mack111]

Sounds good, far time Bush lost super power status and its looks like coming sooner rather than latter.

Back on track;

I really do think the currency market is a bit of a mind field though, I sit in the same office as our commercial manager (business = oil company) who is of a super intellect and he occasional explains things to me when he's either bored or half drunk (or maybe thinks I'm just thick) and the things that go into altering currencies covers a massive spectrum of things, all be it your right about trade deficits etc being bigger impacts items.

Anyways a simple solution is guess to protect yourself is to save in a few different currencies, you wont make any cash speculating but least you shouldn't loose so much

[lomuamart]

bozzman101 wrote:

i remember when a quid was 144 pence

Obviously not worth as much on the Isle of Man as it was on the mainland. 144 pence was only worth 12 shillings.

A quid in England was worth 240 pence.

BB, I think you may have the wrong poster, as far as I am aware bozzman101 is not from the IoM, and probably not working in the finance sector.

Rather sadly, I have monthly records going back to 1981, following figures are all monthly average buy / sell rates. In January 1981 GBP was 49.6522 and USD 20.6467, since then GBP & USD have had following highs and lows:

• Highs:
  GBP Jan 1998 – 87.8373
  USD Jan 1998 – 53.738
  
  Lows:
  GBP Oct 1984 – 28.0788
  USD Jan 1981 – 20.6467

Just one small thing - when I first came over to live here and bought the bar, it was in 1998 and as you have pointed out above, the day we "did the business" I got a rate of 87 something to the pound. A day or two later, it was over 90 and my ex was screaming about how I should have waited.
When I pointed out that in the previous year the rate had been around 40 and so the business had cost less than half of what it would have been, she shut up. I wasn't complaining.
I seem to remember that the rate of 90+ lasted for just for a few days. Not trying to split hairs, it's just that I did experience that magic 90 mark. It wasn't very good for Thailand though.

[sargeant]

Jimbo i agree but i reckon its one problem not two

GW Bush and his warmongering administration who seem to know as much about economics as i do and certainly less than Mrs Sarge

Seriously though i find the problem is far more complex i see things vis a vis the dollar the same as you but just cannot fathom the baht using the same sort of criteria or the pound for that matter as for the euro its like reading runny porridge
I thought i understood interest rate rises the same as lomu described it but it doesnt work in all instances
As for the politics well this country just defies logic at the moment
I can only go to the ATM 3 days a month and get what comes out i would just like to understand it thats all

[sargeant]

I have just had a thought what if we were payed in Haliburtons ???????

[lomuamart]

Whoops, sorry. Just noticed you were quoting monthly averages!!!