Exchange Rate !!!!

[AdamJGill89]

What is happening with the GBP to the Baht ?? Its more expensive now in Thailand than it is back in the UK ! Is this all happening with the thai baht getting stronger and the uncertainty surrounding Brexit ??

[sanemax]

Yes, the Pound fell when the UK didnt leave the E.U three years ago .

The financial markets hate uncertainty  and the UK not leaving the EU on the day after the Brexit vote has caused the Pound to fall 

[ianezy0]

10 minutes ago, sanemax said:

Yes, the Pound fell when the UK didnt leave the E.U three years ago .

The financial markets hate uncertainty  and the UK not leaving the EU on the day after the Brexit vote has caused the Pound to fall 

Not disagreeing here but a lot of currency dropped against the THB around that time, i.e. Australia dropped from 30+ to 25. So was Brexit the reason? Interesting topic.

[bkk6060]

UK is heading into a recession.  Maybe even a depression.

The pound may break 30 here.

Should be interesting.

[bkk6060]

17 minutes ago, sanemax said:

Yes, the Pound fell when the UK didnt leave the E.U three years ago .

The financial markets hate uncertainty  and the UK not leaving the EU on the day after the Brexit vote has caused the Pound to fall 

False.

Take a look at AUD, USD, etc.

They have all fallen and have nothing to do with Brexit.

[sanemax]

3 minutes ago, bkk6060 said:

False.

Take a look at AUD, USD, etc.

They have all fallen and have nothing to do with Brexit.

Their fall is due to the Bahts gain 

[Mark1066]

24 minutes ago, sanemax said:

Yes, the Pound fell when the UK didnt leave the E.U three years ago .

The financial markets hate uncertainty  and the UK not leaving the EU on the day after the Brexit vote has caused the Pound to fall 

The pound fell when the UK decided to leave because markets believe it will damage the economy. It didn’t fall because the UK didn’t leave immediately.

[sanemax]

1 minute ago, Mark1066 said:

The pound fell when the UK decided to leave because markets believe it will damage the economy. It didn’t fall because the UK didn’t leave immediately.

The Pound remained quite stable in the days after Brexit and only began to lose once it became apparent that the Uk Gov had no idea how to proceed and didnt know what to do 

[steven100]

4 minutes ago, bkk6060 said:

UK is heading into a recession.  Maybe even a depression.

The pound may break 30 here.

Should be interesting.

agree …. Australia is technically in a recession and the UK is looking just as sad.

The problem is that these governments never look outside the box when it comes to economic stimulus.

The need to change/challenge the methodology of boosting the economy. But sadly they don't have the balls.

If it was me in charge, I would go out and borrow as much as possible at 0.01% … 7,8 or 9 hundred billion dollars …  then start development, new roads, bridges, schools, hospitals, high speed rail, agriculture, forestry, factories for the unskilled, one million low cost houses for the poor, and so on ….

This way, you kick the economy in the guts, you create 1 million jobs that in turn feed families and they buy cars, groceries etc ...

Ans so what ...in ten , twenty years you still owe 6 billion or whatever, at least the country was saved from poverty, recession or depression.   imo.o 

[sanemax]

1 minute ago, steven100 said:

agree …. Australia is technically in a recession and the UK is looking just as sad.

The problem is that these governments never look outside the box when it comes to economic stimulus.

The need to change/challenge the methodology of boosting the economy. But sadly they don't have the balls.

If it was me in charge, I would go out and borrow as much as possible at 0.01% … 7,8 or 9 hundred billion dollars …  then start development, new roads, bridges, schools, hospitals, high speed rail, agriculture, forestry, factories for the unskilled, one million low cost houses for the poor, and so on ….

This way, you kick the economy in the guts, you create 1 million jobs that in turn feed families and they buy cars, groceries etc ...

Ans so what ...in ten , twenty years you still owe 6 billion or whatever, at least the country was saved from poverty, recession or depression.   imo.o 

Isnt there one word that you could use to describe that process ?

[Mark1066]

3 minutes ago, steven100 said:

agree …. Australia is technically in a recession and the UK is looking just as sad.

The problem is that these governments never look outside the box when it comes to economic stimulus.

The need to change/challenge the methodology of boosting the economy. But sadly they don't have the balls.

If it was me in charge, I would go out and borrow as much as possible at 0.01% … 7,8 or 9 hundred billion dollars …  then start development, new roads, bridges, schools, hospitals, high speed rail, agriculture, forestry, factories for the unskilled, one million low cost houses for the poor, and so on ….

This way, you kick the economy in the guts, you create 1 million jobs that in turn feed families and they buy cars, groceries etc ...

Ans so what ...in ten , twenty years you still owe 6 billion or whatever, at least the country was saved from poverty, recession or depression.   imo.o 

The UK already has a national debt of around 1.75 trillion....I think they’ll have a hard enough job paying that down.

[steven100]

3 minutes ago, Mark1066 said:

The UK already has a national debt of around 1.75 trillion....I think they’ll have a hard enough job paying that down.

hmmm....I see what you say. Do what the US does, just print more. 

 

[fishtank]

Low sterling because of the Brexit nonsense.

Scraping it will help the pound a bit.

 

Also the Baht just keeps getting stronger for some reason nobody can understand.

[CHdiver]

Soon to be renamed the ounce ????

[Mark1066]

2 minutes ago, fishtank said:

Low sterling because of the Brexit nonsense.

Scraping it will help the pound a bit.

 

Also the Baht just keeps getting stronger for some reason nobody can understand.

Maybe it’s because the Thai national debt is 45% of GDP while the UK national debt is 87% of GDP and the USA national debt is 106% of GDP. Not the whole story of course but it doesn’t help. And we criticise the Thais for buying on credit!

[IraqRon]

20 minutes ago, steven100 said:

agree …. Australia is technically in a recession and the UK is looking just as sad.

The problem is that these governments never look outside the box when it comes to economic stimulus.

The need to change/challenge the methodology of boosting the economy. But sadly they don't have the balls.

If it was me in charge, I would go out and borrow as much as possible at 0.01% … 7,8 or 9 hundred billion dollars …  then start development, new roads, bridges, schools, hospitals, high speed rail, agriculture, forestry, factories for the unskilled, one million low cost houses for the poor, and so on ….

This way, you kick the economy in the guts, you create 1 million jobs that in turn feed families and they buy cars, groceries etc ...

Ans so what ...in ten , twenty years you still owe 6 billion or whatever, at least the country was saved from poverty, recession or depression.   imo.o 

agree steven, i call it the chinese model, spend all you can on those items, drive upmthe gdp and investors flock to your currency. seems thai gov. is doing this now.  just remember, get in early then get out.  even falling feels like flying....for a little while.

[BritManToo]

1 hour ago, AdamJGill89 said:

What is happening with the GBP to the Baht ?? Its more expensive now in Thailand than it is back in the UK ! Is this all happening with the thai baht getting stronger and the uncertainty surrounding Brexit ??

Expensive for what?

A home in the UK would cost me 120% of my pension.

The same home in Thailand costs me 25% of my pension.

And that's without comparing the tax and utilities on the houses.

 

Nothing else really matters.

[FritsSikkink]

20 minutes ago, fishtank said:

Low sterling because of the Brexit nonsense.

Scraping it will help the pound a bit.

 

Also the Baht just keeps getting stronger for some reason nobody can understand.

Maybe read a bit and you will understand:

 

https://www.nationthailand.com/business/30373312

 

[steven100]

8 minutes ago, BritManToo said:

Expensive for what?

A home in the UK would cost me 120% of my pension.

The same home in Thailand costs me 25% of my pension.

And that's without comparing the tax and utilities on the houses.

 

Nothing else really matters.

yes … totally agree, these guys see the AUD & GBP fall 10-20% and all of a sudden it's posts about going back home.

Well sorry but a house only costs 500k-1 mil to build in Thailand, in Australia and I expect the UK you are lucky to get a garden shed for that,  a taxi can take you 20kms for $10.... food at the markets is still way cheaper than Australia. Oh and the government will tax you as much as they can, and you will need  a licence to fart … well in Auss you just about do.

No thank's …. they can have both those miserable shitholes... lol 

 

 

[emptypockets]

27 minutes ago, fishtank said:

Low sterling because of the Brexit nonsense.

Scraping it will help the pound a bit.

 

Also the Baht just keeps getting stronger for some reason nobody can understand.

Plenty of people understand why.

Its just that many posters on this forum don't want to understand why.

What did Bill Clinton say?....its the economy ...stupid.

At the moment the Thai economy is very strong. Whether it stays that way is debatable.

[soalbundy]

31 minutes ago, steven100 said:

hmmm....I see what you say. Do what the US does, just print more. 

 

The Dollar is a reserve currency, the Pound has an island in the North sea that still thinks it is powerful.

[Isaanbiker]

1 hour ago, sanemax said:

The Pound remained quite stable in the days after Brexit and only began to lose once it became apparent that the Uk Gov had no idea how to proceed and didnt know what to do 

Not sure about that. Typically, a strong surplus supports a country's currency because it means the nation is less dependent on foreign currencies.

 

  

[thequietman]

Let's call this what it is! It's a troll post designed to generate clicks and anger about the UK sterling to baht rate. It's been done over, time and time again.

 

One more time around the block? ????

[Naam]

1 hour ago, sanemax said:

The Pound remained quite stable in the days after Brexit and only began to lose once it became apparent that the Uk Gov had no idea how to proceed and didnt know what to do 

no Brexiteer fairy tales please. the Pound fell vs. Thai Baht immediately 10% after the referendum.

 

[Mark1066]

Just to make it crystal clear. The black arrow in the chart below is pointing to the daily GBP/USD candle for 24th June 2016, the day the results of the referendum were announced. ‘Opened’ at 1.4851 and ‘closed’ at 1.3664, with a high of 1.5016 and a low of 1.3227 on the day. That’s a 1,200 pip drop in less than 24 hours - an 8% devaluation in a day - and as you can see, it continued to fall over the next few days. Even if you know absolutely nothing about the foreign exchange markets, you couldn’t possibly interpret that price action as the GBP remaining ‘quite stable’.

 

 

[sanemax]

8 minutes ago, Mark1066 said:

Just to make it crystal clear. The black arrow in the chart below is pointing to the daily GBP/USD candle for 24th June 2016, the day the result of the referendum was announced. ‘Opened’ at 1.4851 and ‘closed’ at 1.3664, with a high of 1.5016 and a low of 1.3227 on the day. That’s a 1,200 pip drop in less than 24 hours - an 8% devaluation in a day - and as you can see, it continued to fall over the next few days. Even if you know absolutely nothing about the foreign exchange markets, you couldn’t possibly interpret that price action as the GBP remaining ‘quite stable’.

 

 

I did say that it remained quite stable immediately after the Brexit vote and only started to lose a few months after the vote when it became apparent the the UK Gov wasnt going to leave anytime soon 

[Mark1066]

Just now, sanemax said:

I did say that it remained quite stable immediately after the Brexit vote and only started to lose a few months after the vote when it became apparent the the UK Gov wasnt going to leave anytime soon 

Yes you did and you were wrong. It dropped 8% on the day the results were announced....are you saying that is ‘quite stable’?

[sanemax]

56 minutes ago, Naam said:

no Brexiteer fairy tales please. the Pound fell vs. Thai Baht immediately 10% after the referendum.

Yes, and as I originally stated and repeated  , the Pound remained quite stable after that for a few months and only began plummeting when the UK gov showed that they had no idea what to do 

[Mark1066]

1 minute ago, sanemax said:

Yes, and as I originally stated and repeated  , the Pound remained quite stable after that for a few months and only began plummeting when the UK gov showed that they had no idea what to do 

So now you’re changing your comment to say that after it had already dropped 8% in a day, it remained quite stable? (It didn’t do that either: by the 6th July, it had dropped nearly another 900 pips.)

[sanemax]

3 minutes ago, Mark1066 said:

Yes you did and you were wrong. It dropped 8% on the day the results were announced....are you saying that is ‘quite stable’?

No, I did mean after it fell by 8 % , the following Monday the Pound was 46 Baht and stayed around that mark for the next few months , remaining stable