Why is'nt the pound getting stronger against the baht?

jackspratt wrote:Just being cautious Aa.

Perhaps KD knows something that others don't - but a quick search of google throws up nothing to support his "interesting" hypothesis.

(Still off topic, BTW).

No proof or reference required. The statement was purely contemplative.

Can anbody tell me how many Baht for 10 British pounds in the Banglok Bank coming over in March and want to know whether to bring Cash or Transfer thanks

valiant wrote:Can anbody tell me how many Baht for 10 British pounds in the Banglok Bank coming over in March and want to know whether to bring Cash or Transfer thanks

Foreign Exchange Rates

Well the rate varies day to day, but about 48 to the pound currently, so say 480 baht for 10 quid. in the last 3 months hasn't shifted more than 1 baht from that, always between 47.5 - 48.5. Some one will no doubt post that they have got better than this, but that is the LIKELY range.

Tafia wrote:

valiant wrote:Can anbody tell me how many Baht for 10 British pounds in the Banglok Bank coming over in March and want to know whether to bring Cash or Transfer thanks

Foreign Exchange Rates

Sorry I couldn't post the link, check the BB Foreign exchange rates they change a number of times a day but as rick says its been pretty steady for some time with little movement between 47.5 and 48.8

Thanks for replies 46.9 Baht transferring from Nat West to Bangkok Bank it is cheaper bringing cash but not as safe.

Quantitative-easing by the Bank of England is the reason the GBP will not make any improvement against the baht forever. Which suits OT so long as the QAR keeps strong.

OT..........selfish...

The pound will only get weaker even against the weakest fiat currencies. Like the US, the UK-Ponzi-economy is deflating and there is nothing the criminal banking syndicate can do about it.

Current total UK debt (government + corporations + financial + household) to GDP ratio is 1000% (that is NOT a type-o it is roughly one thousand percent) which is higher than any other country in the world. To make things worse, most of the debt is external, i.e. owed to non-UK creditors. Now THIS looks unsustainable to me. BoE will have to print hundreds of billions more of their worthless paper in order to prevent an outright collapse of the current financial system. Inflation will be rampant and the whole UK middle class will be impoverished in the process. What we have seen last summer is nothing compared to what lies ahead in terms of social unrest and violence in the cities.

The English peso will lose more than 50% of its value in the next 2 years against the only real money - gold. I.e. the gold price in GBP will at least double.

Is the US in a better position? Hardly. Once the totally undeserved world reserve currency status of the USD is gone, nothing will stop it from falling like a stone.

Cash may not be safe, but try travellers cheques. Sterling cheques can sometimes be bought without commission (Lloyds bank do this) and you get a slightly better rate in Udon than cash - but then pay commission about 0.5%. But better than the rate bank transfer offers. You can also transfer in Sterling and get converted in Thailand - usually cheaper than letting the UK bank take commission (but all depends on amount). I use TC when i travel here and subsequently a supposedly commision free ATM card - but that is another set of options in itself.

I wouldn't write off the UK and the pound just yet. The UK economy is in better shape than the newspapers would have you believe. The government is trying to devalue the pound using quantitative easing (printing more money) but it is competition with other currencies doing the same. Quantitative easing is effectively a tax on all savings in the economy, and if the inflation can be kept under control is an effective way of writing off debt. However other currencies, such as the Thai Baht are in the same competition, and the UK pound is seen as a better bet than many other currencies by the International markets. The net result is that the relative position of the currencies doesn't change.
the Thai Baht also shows signs of being actively managed to keep it within a narrow band with the UK pound.

Whereas I agree with your comment - all fiat currencies are in a race to the bottom, and it is not clear the pound will be the worst, the sad truth is that for somebody on a UK pension in Thailand it doesn't matter which currency is sinking faster.

If Thailand is applying a more restrictive monetary policy than the UK, the pound will go down the drain vs THB. This has been the case since 2007. However, if Thailand is printing more money on a relative basis, massive inflation in Thailand will eat away your pension, even if the THB loses its value quicker than the pound. From my point of view this is a likely scenario going forward. I expect inflation in Thailand to get completely out of control. It is already running at ca. 10% p.a., way above official CPI numbers.

In short there is NO way to keep your purchasing power (in Thailand or in the UK) if you are in a fixed (or CPI adjusted) pension! Better anticipate now and prepare accordingly.

Same applies to pensioners of other countries who are just printing money to save a Ponzi economy and an unsustainable lifestyle (hello, yes US you are the first in line!)

Welcome to the glory world of money printing and financial repression.

IMO, the PLAN (emphasis) of the central banks is to devalue all the currencies concurrently (more-or-less) to reduce currency flight and maintain the status quo. In theory, such a plan would provide a softer landing for the USD - and by extension, the world economies. So far, so good - but it only delays the inevitable. There is no true single central bank of central banks to ensure all the central banks adhere to the plan. It only takes a couple or a few to cause total chaos...

April-May, 2012 - the real beginning of the reckoning...

In general, Asian countries have a lot of economic growth ahead of them. Internally, they're all modernizing. Externally, many of them are used to make and export products to developed nations.

On the other hand, the developed nations (like EU countries and the USA) probably don't have the same kind of economic growth ahead of them. In addition, developed nations still have a lot of debt problems they're working through. England is by no means safe from these debt problems. International ratings agencies have already threatened to downgrade England's credit rating.

These are some reasons why the pound and other developed nation currencies have not and probably won't strengthen much against East Asian currencies.

Occasionally, things like a bird flu outbreak or flooding temporarily weaken Thailand's currency. But in the long-term, Thailand's economic growth potential trumps that. England and other developed nations will have to find ways to once again create products the rest of the world really wants and can afford, before their currency strengthens against East Asian currencies.