Notice that despite the current "turmoil" the rate of exchange for sterling coming into Thailand is not good. What I mean is getting less baht for sterling brought into the country compared to a few weeks back.
Why is this?
Surely it should be the opposite?
Glad to have any 'experts' give their opinion, and as to what might happen.......
Thank you.
Between Gordon Brown and Alistair Darling an economic downturn has been created, or they are just making a hash of it all, in the UK. The pound at present is not good - against the euro it is at it's weakest that it has been for a long time.
I think a lot of the "credit crunch" in the UK has been taked into existence but whichever way it has happened, the pound is not as strong right now.
It's not just the pound/baht exchange rate that is suffering. Read the following for an overview of the present situation
"Sterling's slump deepens as recession looms
By Edmund Conway, Economics Editor
Labour's sterling crisis is intensifying with the pound slumping to a new 16-year low.
The fall was triggered by an OECD warning that Britain is already in recession and the Government's pledge to spend ┬г600m bailing out the housing market.
The pound, which has been tumbling in the past month, dropped to a new record low against the euro and hit a 2┬╜-year low against the dollar as traders continued to sell out of their sterling investments... "
more - http://www.telegraph.co.uk/money/main.j ... und103.xml
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