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The pound is on the up

JASONTHAI · 72 · 3140

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Online Coolkorat

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The £ is back at B44.6 on XE.com  ;D   ;D

GBP/THB is currently trending lower: The investing.com indicators are pointing to neutral, but the sentiment amongst watchers of this currency pair is bearish (i.e. negative on the GBP element - the baht will strengthen). https://www.investing.com/currencies/gbp-thb-technical

Any baht strengthening is likely to be limited: it is difficult to see how Thailand benefits from a strong baht, other than for internal politics. The Bank of Thailand appears to be keeping baht trade within a narrow window against a basket of currencies, a 'sweet spot' that balances import costs vs export revenue. With tourism remaining strong, it is hard to argue against their strategy.

The B of T is walking a line between the US and China: interestingly, what will be the consequences for Thailand and the One Road Expansion if China is forced to rebase the Yuan? Did Thailand have the foresight to agree deals with China that are currency-neutral? Or will the infrastructure projects result in generations of debt to China..


Online Roger

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B 40.2 to GBP on XE now. GLA
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Offline Alfie

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41.1 baht to the pound now, almost 1.32 USD to the pound and 1.19 Euros to the pound.


Online Roger

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The GBP rate has backed off a little but I'm DELIGHTED to report I got B 40.1 on my transfer of February funds last Friday. A pleasant boost on just over B36 a few months ago. GLA
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Offline tiggs

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yes roger nice to see even a little rise in the £. shame if it rises because of the virus. expect the baht to weaken - according to a data compiled by Bloomberg International funds withdrew US$562 million from Thai equities last month, the biggest sell-off in the first month of any year since 2011.
More withdrawals are likely as overseas investors expect the baht to weaken with tourism from China drying up, according to Asia Plus Securities.


Foreigners avoid Thai stocks with fewer tourists squeezing baht

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Online Coolkorat

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Could be a turbulent time for the baht. The coronavirus impacting Chinese tourism and trade, and the terrible events of the weekend giving an impression of a threat of violence (however wrong). Sitting in the background is a pessimistic outlook for the global economy in 2020. PwC have published their global survey, link to it here


Online Roger

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B41.3 on XE this morning - keep going !
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online Coolkorat

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B41.3 on XE this morning - keep going !

Now down to B40.75. I'm puzzled: the BofT should perhaps let the B take a battering and get the visitors coming back. At B50/GBP1 (and USD equivalent) it will make a significant difference to many local expat residents, boost exports and begin filling the hotels.


Offline Anton

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I'm puzzled: the BofT should perhaps let the B take a battering and get the visitors coming back

Just ask yourself who has an interest in a strong Baht, and puzzlement will quickly disappear.
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Online Coolkorat

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I'm puzzled: the BofT should perhaps let the B take a battering and get the visitors coming back

Just ask yourself who has an interest in a strong Baht, and puzzlement will quickly disappear.

You're exactly right Anton...! Embedded interests will always trump national interests.


Online Roger

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XE now showing Baht 37.6 to GBP   ::)

I moved last week just before the Baht started strengthening again and moved my B65K at 41.3   ;)   I'm not expecting to get that next month   >:(
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Offline tiggs

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living the dream is it turning into a nightmare for some.

lowest level in over 30 years, i feel for the expats who rely on their pension for the immig requirements, at a time like this when the country needs that money coming in from abroad, you would think they could lower the amount if only for say 1yr. lower the 800,000 +400,000.
after all that money in most cases is feeding a thai family. so what's it for.

The pound's weakness could partly stem from questions over how the UK government plans to pay for the emergency economic measures it has introduced, says Neil Wilson, chief analyst for Markets.com. more borrowing for the UK economy - how they gonna pay it back - or more important who is gonna pay it back. 

tearful the way things are going
Norwegian worried about his pension hangs himself in Sattahip -  Siriporn said that her husband had been stressed about his pension and this was why he took his life. She said that after his pension was not paid he had asked her to go online and check why.
She said she was the couple's only breadwinner and money was tight.source
Appeasers believe that if you keep on throwing steaks to a tiger, the tiger will become a vegetarian.