GBP vs THB

[JimmyGreaves]

Looks like the financial markets may have some faith in the new UK coalition government as the pound has started to recover a little against the dollar/euro, currently 1.50 and 1.18. Let's hope it continues and we have plenty of good economic news from the UK!

Think I spoke too soon. Pound/baht at worst rate for a year now

[Super Joe]

Media report on May 15th ...

More foreign investors have sold off some shares and bought US Dollars due to the escalating political violence, Bank of Thailand (BOT) assistant governor Suchada Kirakul said on Saturday morning. However, Mrs Suchada said, the total amount of capital inflows and outflows was still low. She said the Baht's value had started to weaken because of the depreciating Euro.

Investors were also concerned that the political situation could turn violent again, she said. "The central bank will not yet intervene in the Baht's fluctuation as the rate is still acceptable," the assistant governor added.

SJ

[JimmyGreaves]

Not seen any weakening of it at all!

[JimmyGreaves]

Any bets on the pound hitting 40 baht or lower?

Thai Baht 46.63

52 week High 57.72
52 week Low 47.24 (Previous)

[charleyboy]

Any bets on Thai Immigration lowering the required amount of money to stay here?
Or, is everybody paying under the counter?
The sooner people stop paying under the counter, the quicker the authorities may do something about the situation!
Charleyboy.

[miked]

Any bets on Thai Immigration lowering the required amount of money to stay here?



more chance they will increase the amount. Thai immigration don't give a toss if you stay or go.
miked

[Super Joe]

Any bets on Thai Immigration lowering the required amount of money to stay here?

They've effectively been reducing the amount required for retirees every year now for about a decade, you expect them to reduce it further just because our currency is struggling ??

Like Mike said, fat chance

SJ

[hhfarang]

They've effectively been reducing the amount required for retirees every year now for about a decade

How so SJ. It's been the same requirement since I got my first visa in 2004 as far as I know... 800,000 baht in a Thai bank or 65,000 income per month. Have I missed a reduction announcement?

[JimmyGreaves]

They've effectively been reducing the amount required for retirees every year now for about a decade

How so SJ. It's been the same requirement since I got my first visa in 2004 as far as I know... 800,000 baht in a Thai bank or 65,000 income per month. Have I missed a reduction announcement?

You sure HHF I could of swore it was less in 2004, definetely 2003 it was 400,000 or 600,000 and holders started getting Grandfathered in at that rate.

Can not see where you get a reduction SJ as with interest rates plummeting on savings, majority of expats currency rates dramatically falling, the cost of living here rising. I would have thought with the cost staying at 800,000 baht you are looking at going on a 20% increase in real terms

[Super Joe]

What I mean't was, a bit tongue-in-cheek, was that the Thai government has not increased the amount each year in line with their inflation rates. If they had it would be around 1,050,000 Baht. I know we take it for granted, but we wouldn't do so if our employer didn't increase our salaries each year.

I'd assume the government could care less about our currency rates, that's our issue, they just determine that 800,000 Baht is the amount a retiree can live on without having to work illegally/be a burden on the state. They could be a bit flexible in times like this though.

Thing is what they seem to do historically is leave it the same for years and years then hike it up overnight. Let's hope they don't do that for a good while yet.

SJ

[Korkenzieher]

Well, my predictions of a page or so ago that the pound would break north of 1.17 Eur by the 3rd quarter have come true rather quicker than expected. Today, it hit 1.21 briefly, and the pattern is relentlessly upwards.

What does this mean for GBP / THB? Well, looking at the graphs (http://finance.yahoo.com/q/bc?s=GBPTHB= ... Chart&t=3m), you'll notice that there was a turnaround just north of 46Baht, and that the rate has climbed steadily to around 47.5 (give or take). This makes it pretty clear that we are seeing pound strength there, and not just Euro weakness (IMHO).

As the muppets in London finally get their heads around the fact that the UK is not (and never was) the basket case that rather too many had assumed; and the sovereign debt crisis in southern Europe rumbles on through the summer, I'd suggest you start watching for signs of sabres being rattled at the BOE in preparation for interest rate hikes because of inflation remaining 'stubbornly high'. And that will cause the pound to strengthen further (with the predictable howls of 'but you'll kill off the recovery' in the background) and bring the rate back closer to 50 pretty sharply.

OK, That's me off the fence then!

[STEVE G]

Yes, the GBP/Euro rate is looking quite a bit better at the moment and the pound hit 48 against the baht briefly a couple of days ago.
Although I'm working in the Euro-zone at the moment, it's all good news for me as my contract is in sterling.
I did have the choice, but I was hoping that the pound had reached a bottom.

[Takiap]

they just determine that 800,000 Baht is the amount a retiree can live on without having to work illegally/be a burden on the state.

I'm not a retiree, but the way I see it, 800,000 baht per year equates to almost 100,000 baht per month. If I was needing to spend that much money each month in order to live here, I wouldn't be living here in the first place. I really can't see how a retiree would go through that much money, particularly if they own their own property, unless they're playing golf on all the top courses

As far as being a burden on the state is concerned..............we're all entitled to zilch, so how could any of us become a burden.

With that said, I do agree that they have been quite lenient by not increasing the show money, given that the cost of living has gone up so much in recent times. In fact, Thailand has become quite expensive for those who still enjoy western delights. Bread is one example, considering you're paying almost a quid for one of those terrible Farmhouse loaves. Baked beans are another example. In the UK they are the cheapest tins of food you find on the shelves, while here in LOS................

The list goes on and on, and when you begin adding it all up, it sure as hell makes a difference. Fortunately I could care less about western cuisine and have eaten nothing but Thai for the past 7 or 8 years.

I rely on the dollar to baht exchange rate, but I do feel for the Brits because they must surely be feeling the difference compared to a few years ago.

Oh well, I know bugger all about the markets, but it does amaze me that the baht is still so strong.

[hhfarang]

I'm not a retiree, but the way I see it, 800,000 baht per year equates to almost 100,000 baht per month. If I was needing to spend that much money each month in order to live here, I wouldn't be living here in the first place. I really can't see how a retiree would go through that much money, particularly if they own their own property, unless they're playing golf on all the top courses

If you have a family, big house (wholly owned), and big garden to support it's easy to go through 100k per month in Hua Hin. That's about what we spend and I only play about one round of (paid) golf per month and haven't traveled outside Thailand in nearly six years. I am married so I don't spend any money on women other than my wife and mother-in-law and I drink and eat at home 90% of the time. When we do go out to eat (maybe once a week) we go to cheaper places unless it's the occasional special day like a birthday or anniversary.

[sargeant]

HHF

If you have a family, big house (wholly owned),

and big garden to support

such modesty becomes you

your place is a big MANSION

800,000 = 66,000 a month 400,000 = 33,000 a month

make your own bread 20 baht a loaf = 40 pence ish