Thread: Will the Baht hit 50?

Originally Posted by Gerbil

Originally Posted by chingching

i actually got 103 at the peak but nobody believes me

Maybe because you are talking complete bollocks.

The absolute highest the GBP/THB exchange rate reached was 89 (and that was the inter bank rate) in Jan 98. Typically it was mid 70's after the crash until the slow decline we have seen since.

you weren't changing money at the exchange i was so i know your talking out of your ass
in 1 day at the crash banks were in panic and the numbers on the board were being changed by the hour and even half hour.
the graphs you may find online dont refelct what was happening around town during the meltdown.
i was buying a bag of cement for 100 bahts at the time which equated to 1 pound so thats how i know it was over 100

I sent a fair sum of money to Thailand 3 days ago was cashed in yesterday when it landed at 49.40 to the £ and I am mega happy with that !

Dont seem a lot but makes a big difference when your gonna undertake a build project

Happy days

intraday trades could have reached 100, but the close could have been 70

if you are into forex and have DMA to forex exchanges, it's quite possible to trade above the close or the official rates at the bank

Originally Posted by chingching

you weren't changing money at the exchange i was so i know your talking out of your ass

No I wasn't. I was working for the B.O.T. at the time involved with upgrading their currency exchange systems so I know what I'm talking about.

I see the rate is now fluctuating around 52.48 baht to the £.

The daft thing about this is that the BoT et al will attribute the depreciation to a reaction to the current protests and rising resentment of Yingluck's gang. This of course is just masking the real economic problems caused by the disastrous rice interventionist policies, rapidly escalating public expenditure debt, inflation and ever increasing exposure to personal indebtedness that the credit boom has engendered.

Thailand's construction boom was fuelled by Thai speculating at every level. This time they have been the architects of their own foolishness and the perfect storm is brewing. The only long term solution will be to have a further devalued baht sufficient to kickstart their flagging exports although that will have to be balanced against inevitable increase in imports, particularly energy costs.

I think 60bt to the £ and 40bt to the US$ is the optimum but that will doubtless irritate the hiso gang that have been creaming it over the past 5 years. Poor dears will just have to pay more for their London houses.

^ Except it isn't just the Baht is it....Ringgit, Singapore Dollar, Australian Dollar and etc are all weakening against the Sterling and Euro. Suggests to me that the Euro and Pound are recovering rather than vice-versa....

Building infrastructure is a proven technique of getting yourself out of a decline and the policy was far from wrong....and subsidising farming is required (albeit incorrectly administered for years) in order for Thailand to sustain agriculture until someone with a bit of 'common' comes along and initiates policies to educate on better farming techniques to increase yields through crop selection, water storage and community sharing of equipment (amongst others) rather than plodding along in the manner better suited to the 12th Century.

B53 today.

And the Great British Pound goes marching on. 54.2 today.

50 to the dollar might be a better question?

Just a heads up to you guys that walk in your cash.

Go to " Super Rich " Silom and get the best exchange rate.

Banks can never compete. Take your Passport.

Originally Posted by Begbie

50 to the dollar might be a better question

5555555

The speed at which the Baht is declining must be worrying the central bank by now. It is becoming clear that the proposed election is not going to solve the problem and we seem to be heading for a bad year with political and commercial disruption.

Sentiment is all these days. For we Brits surviving on sterling paid pensions and lump sums it seems 2014 is our year of recovery. The noises within the chattering economist classes, a feckless bunch, admittedly,but they do add to the equation, is that sterling is approaching safe haven status with a projected value of $1.80 in the course of the next year.

60 baht to the £ is likely by Spring and folk should plan accordingly.

The persistent foolishness of the Thai is of course the cherry on top and long may they continue to shoot themselves in the foot.

I see the rate is knocking on the door of 55 bt to the £.

I rather think my projection is on course. Structural weaknesses in the Thai economy can no longer be papered over by the QE dividend or hubristic political sloganising in conjunction with a BoT uttering inane platitudes. Of course, the resurgent British economy is driving the increase in the £ which will inevitably lead to a greater fiscal velocity and a concomitant rise in interest rates.

We pensioners will reign again!

^

I reconciled the amount that I paid for my house in 2008 against the then exchange rate (69 baht/pound) which I was more than comfortable with.

Now, the buying rate is circa low 53's (55 plus is the selling rate), so important to separate the two. Still a lot better than a year or so ago of course, and like 'The Gent', tantamount to a decent 'pay rise'!

Originally Posted by PAG

Now, the buying rate is circa low 53's (55 plus is the selling rate), so important to separate the two. Still a lot better than a year or so ago of course, and like 'The Gent', tantamount to a decent 'pay rise'!

Genuinely pleased for you mate.