GBP vs THB
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chopsticks
- Guru
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Sterling is weak because of the unknown result of the forthcoming election - with no clear winner emerging according to polls.richard wrote:Hi
Question for you financial gurus out there
Got my daughters and friends coming out in 5 weeks and they want to know what to do about getting Bht
I have Bht here brought in at 52 so could fund them but any other advice welcome bearing in mind it is 5 weeks from now
Financial markets don't like uncertainty.
The only practical advice is to try and average out the exchange rate over a few weeks/months by doing several smaller transactions or even consider using a credit card to spread out the spending/coversion period
rather than take a chance on a particular day's rate for one large amount.
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Khundon1975
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Chopsticks 
The problem with your sugestion about averaging out smaller transactions, is that the GBP is on the down and has been for a few months now, plus each transaction costs money in fees etc and that would wipe out any gain.
Sorry Richard not much help to you I'm afraid.
The problem with your sugestion about averaging out smaller transactions, is that the GBP is on the down and has been for a few months now, plus each transaction costs money in fees etc and that would wipe out any gain.
Sorry Richard not much help to you I'm afraid.
I've lost my mind and I am making no effort to find it.
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chopsticks
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Yes, I agree with you they will pay extra in fees unless they take sterling over and change it in staggered amounts for the duration of their stay - or perhaps use one of those Nationwide low transaction fee accounts and use ATM's.
Otherwise just hope for a snap general election
within the next five weeks before they depart...........but that could also work against them, so it's all a bit of a gamble really trying to forecast currency rates.. 
Otherwise just hope for a snap general election
within the next five weeks before they depart...........but that could also work against them, so it's all a bit of a gamble really trying to forecast currency rates.. 
in the coming months i think the pound will test 40 baht. this comes together with the euro predicted fall, anything down to 33 baht. expats living here on a fixed income pension and with little capital don't have many options. it's looking likely that we will have to accept these exchange rates for several years. i hope i'm wrong.
this affects all expats here not only those retired. working expats whose living comes from the expat community will suffer. a much smaller catchment group and those that remain will be spending thai baht very carefully. expats in the tourist industry will suffer. Thailand will no longer be a cheap holiday for Europeans.
last week i was back in London for a few days. it was packed with tourists.
the buses , tubes and trains are now excellent. all clean and on time. certainly food shopping is now cheaper than thailand. if your from Australia or the U.S.A what's the better option.??
who do we blame for all of this. Gordon Brown and Labour, and it looks likely that he will remain are glorious leader.
off subject with one final point. i flew with Jet Air and i will never fly with them again even if they paid me. the worst experience i have ever had with an airline. avoid at all cost.
miked
this affects all expats here not only those retired. working expats whose living comes from the expat community will suffer. a much smaller catchment group and those that remain will be spending thai baht very carefully. expats in the tourist industry will suffer. Thailand will no longer be a cheap holiday for Europeans.
last week i was back in London for a few days. it was packed with tourists.
the buses , tubes and trains are now excellent. all clean and on time. certainly food shopping is now cheaper than thailand. if your from Australia or the U.S.A what's the better option.??
who do we blame for all of this. Gordon Brown and Labour, and it looks likely that he will remain are glorious leader.
off subject with one final point. i flew with Jet Air and i will never fly with them again even if they paid me. the worst experience i have ever had with an airline. avoid at all cost.
miked
Mike, I was taking your post quite seriously until:
and:
I can't speak for the buses, but tubes and trains - you must be joking.the buses , tubes and trains are now excellent. all clean and on time.
and:
Where were you shopping, and what were you buying? I can't think of many examples where that is true.certainly food shopping is now cheaper than thailand
Championship Plymouth Argyle 1 - 2 Leeds Utd
Points 46; Position 23 RELEGATED
Points 46; Position 23 RELEGATED
I think that holiday makers from Europe will be in decline because certainly there is now less Baht to your Pound or Euro and the costs of flights means it isn't the bargain it once was.
The people who live here on fixed incomes, like retirees who have their pensions paid in Pounds and Euros, and to a lesser extent the US Dollar, are certainly going to have to structure their expectations about life in the future, I know I am.
People living here on retirement visas have to prove to the Thai immigration authorities that they have a monthly income of 65,000B, not everybody has the 800,000B sitting in the bank they can use, when I moved to Thailand that equated to £915 a month it's now about £1355, that's an increase of about 48%. Pensions haven't increased by that percentage, in fact my Civil Service Pension has been frozen for this year.
I am aware that a number of expats have returned to their homelands because they are unable to meet the financial requirements of their permission to stay in Thailand, though quite what they are going back to I don't know.
So do you say the dream is over and leave or do you try and make Thailand more affordable, well everybody's circumstances are different. I take solace in the fact that not all Thais earn 65,000B a month and they manage so why cant I? So where to start? I shop in Tesco's, do I need that bottle of HP Sauce at 123B, do I need that jar of marmalade at 140B, indeed to I need a pack of English bangers at six quid, not really one of the things I like about Thailand is the food, so lets stick with Thai food. Just a small point, if the western currencies are weaker shouldn't imports from western countries be cheaper, so why is western food still going up in price, shouldn't it be going down?
Do I need to eat out as much, maybe, but I will stick to Thai restaurants where the locals eat and, I'm afraid, those establishments offering western fare will not be used as much. Do I need to drink as much, well I never was a big drinker, but the wine has to go. Can I save on utilities, probably not, but they are not too big anyway. Reduce my television subscription, well I did that last year when True dropped BBC, if I drop any more I will lose the footie.
So there we are then, the glory days have gone, will the GBP ever recover, not according to those talking doom and gloom, though you might call them realists, it probably will never return to the 71 Baht to the Pound it was when I moved here, and certainly never to the 90 it was when I first came shortly after the Asian Financial Crises.
For those who have managed to read my ramblings I apologise for going on too much, but I am sure I cannot be the only one considering my future in Thailand.
The people who live here on fixed incomes, like retirees who have their pensions paid in Pounds and Euros, and to a lesser extent the US Dollar, are certainly going to have to structure their expectations about life in the future, I know I am.
People living here on retirement visas have to prove to the Thai immigration authorities that they have a monthly income of 65,000B, not everybody has the 800,000B sitting in the bank they can use, when I moved to Thailand that equated to £915 a month it's now about £1355, that's an increase of about 48%. Pensions haven't increased by that percentage, in fact my Civil Service Pension has been frozen for this year.
I am aware that a number of expats have returned to their homelands because they are unable to meet the financial requirements of their permission to stay in Thailand, though quite what they are going back to I don't know.
So do you say the dream is over and leave or do you try and make Thailand more affordable, well everybody's circumstances are different. I take solace in the fact that not all Thais earn 65,000B a month and they manage so why cant I? So where to start? I shop in Tesco's, do I need that bottle of HP Sauce at 123B, do I need that jar of marmalade at 140B, indeed to I need a pack of English bangers at six quid, not really one of the things I like about Thailand is the food, so lets stick with Thai food. Just a small point, if the western currencies are weaker shouldn't imports from western countries be cheaper, so why is western food still going up in price, shouldn't it be going down?
Do I need to eat out as much, maybe, but I will stick to Thai restaurants where the locals eat and, I'm afraid, those establishments offering western fare will not be used as much. Do I need to drink as much, well I never was a big drinker, but the wine has to go. Can I save on utilities, probably not, but they are not too big anyway. Reduce my television subscription, well I did that last year when True dropped BBC, if I drop any more I will lose the footie.
So there we are then, the glory days have gone, will the GBP ever recover, not according to those talking doom and gloom, though you might call them realists, it probably will never return to the 71 Baht to the Pound it was when I moved here, and certainly never to the 90 it was when I first came shortly after the Asian Financial Crises.
For those who have managed to read my ramblings I apologise for going on too much, but I am sure I cannot be the only one considering my future in Thailand.
Governor a superb post i will start worrying when the pound hits 27.77 baht to the pound and i cant make my marriage visa figure that leaves me with 30 grand a month mortgage electric gas water cable and internet 9 grand and live on 700 baht a day plus my Mrs business i will survive and i will be making some belt tightening moves in advance as well
Chopsticks wrote
Chopsticks wrote
I agree but with all the potental uncertainty in this country why is the baht so strong??????Financial markets don't like uncertainty.
A Greatfull Guest of Thailand
Good point Sarge! Why is the baht so strong with all the political problems and unrest in this country.I agree but with all the potental uncertainty in this country why is the baht so strong??????
I've been watching the dollar get stronger against most currencies lately while at the same time it is still getting weaker against the baht. I can't make any sense of it.
My brain is like an Internet browser; 12 tabs are open and 5 of them are not responding, there's a GIF playing in an endless loop,... and where is that annoying music coming from?
It's insane that the baht is still so strong, with all that's cracked off and is cracking off you'd think it would be taking a hammering, unless, of course, it's being intervened with by government or speculators. Have heard theories/rumours that the baht will be floated in May, whether it's true or not, don't know.
All I can say at the moment is thank gawd that I bought my car in the heady days of low to mid 70s for a pound, definitely would be out of the question at 50 to a pound to do the same now.
The tables have turned somewhat, the lucky guys now are the ones that have jobs and earn baht at the moment, didn't used to be that way. I know many that have had to curtail their activities due to the fact that they are the fixed income from overseas group.
All I can say at the moment is thank gawd that I bought my car in the heady days of low to mid 70s for a pound, definitely would be out of the question at 50 to a pound to do the same now.
The tables have turned somewhat, the lucky guys now are the ones that have jobs and earn baht at the moment, didn't used to be that way. I know many that have had to curtail their activities due to the fact that they are the fixed income from overseas group.
Resolve dissolves in alcohol
Good post and good points, especially this one. The truth is that it is relatively easy to live on a lot less (moving out of a tourist town would be a start). However the problem is that immigration and the government do not think that foreigners should have that option, hence the inflexible and ever increasing visa requirements.Governor wrote: I take solace in the fact that not all Thais earn 65,000B a month and they manage so why cant I? So where to start? I shop in Tesco's, do I need that bottle of HP Sauce at 123B, do I need that jar of marmalade at 140B, indeed to I need a pack of English bangers at six quid, not really one of the things I like about Thailand is the food, so lets stick with Thai food.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
I dont have any proof but my speculation as to who is propping up the baht was/is China but why i also cant work out
I have ideas but find myself able to put arguments forward just as compelling as to why not
There is also a point to take into consideration Thailands exports including rice will become very much more expensive that will impact on the thai economy and not in a good way.
The property boom is i think viewed by most people as totally deflated standard and poors take into account property values as part of their credit ratings anybody any idea whether they have lowered Thailands rating ?????
and if not why not ??????
I have ideas but find myself able to put arguments forward just as compelling as to why not
There is also a point to take into consideration Thailands exports including rice will become very much more expensive that will impact on the thai economy and not in a good way.
The property boom is i think viewed by most people as totally deflated standard and poors take into account property values as part of their credit ratings anybody any idea whether they have lowered Thailands rating ?????
and if not why not ??????
A Greatfull Guest of Thailand
I have already started. My belt now goes round me 3 times. Push comes to shove its back to the sticks for a long spell.
Back to the UK and benefits? NO WAY for me. I would rather die a pauper in Thailand than the UK any day
Anybody have any storage space?
Anybody need a butler?
Anybody need a house boy? (Ops! thought I was living in Africa again)
Back to the UK and benefits? NO WAY for me. I would rather die a pauper in Thailand than the UK any day
Anybody have any storage space?
Anybody need a butler?
Anybody need a house boy? (Ops! thought I was living in Africa again)
RICHARD OF LOXLEY
It’s none of my business what people say and think of me. I am what I am and do what I do. I expect nothing and accept everything. It makes life so much easier.
It’s none of my business what people say and think of me. I am what I am and do what I do. I expect nothing and accept everything. It makes life so much easier.