Any uk guys like to tell how they are coping with the low exchange rate , compared to this time last year
Any uk guys like to tell how they are coping with the low exchange rate , compared to this time last year
Wow, when was that?Originally Posted by fattman
December 1997 1 pound > 90 Baht
Also, if you go to http://www.bangkokbank.com/Bangkok+B...s/FX+Rates.htm
and in the Historical FX Rates select 2 January 1997 you see that the rate for the GBP was between 42-43 Baht and the US Dollar was 25
Happy New Year :cyclops:
Lot of variation in that month, but I can't see it going over 80 Baht to the pound
Yes Brad it was in the summer of 97 that the Asian financial crisis struck which at least ostensibly had its roots in Thailand and saw the extraordinary devaluation of the Baht. There are still a few unfinished buildings that still exist in BKK as testament to the speed and devastating effects of that crisis on the Thai construction industry, amongst others.
I agree however that a long term sustainable exchange rate of anywhere near 80plus seems most remote. However circumstances can most easily change in Thailand.
Hope springs eternal (at least for those following exchange rates) - Abhisit (Mark to his friends) said in a recent interview that next year may actually be worse for Thailand economically than 1997. It all depends on whether it is worse for the UK, US, etc, too.
Talk about the past is nice ! :flower:
But this what you gone get now ! :bigsmurf:
Reported by the Bank of Thailand on 25 December 2008
Currency Buy Sale
USD US Dollar 34.4693 34.8377
EUR Euro 48.1036 48.8806
GBP British Pound 50.6338 51.4913
CHF Swiss Franc 31.9421 32.5191
CAD Canadian Dollar 28.2407 28.7301
AUD Australian Dollar 23.3663 23.9097
NZD Zealandian Dollar 19.6219 20.1214
SGD Singapore Dollar 23.7652 24.2468
INR Indian Rupee 0.6672 0.7738
IDR Rupiah 2.9331 3.4063
PHP Philippinian Peso 0.7119 0.7466
HKD Hong Kong Dollar 4.4283 4.5074
JPY Yen 37.9121 38.6976
CNY Yuan Renminbi 5.0436 5.1099
It looks like the exchangerate is moving in the right direction, at least for my small currency (the swedish krona). Today I have to pay SEK 232,60 for 1000 THB, wich is the best rate so far in December, and down 5% since the top in the beginning of the month. But still a long way to go to the Sepember-rate of 196,10 for 1000 baht.
Had some friends comming back after Christmas-journeys to Thailand, and complaining that it is expensive. Dont't know if it's just the currency exchangerates, or if the thais in their "logical way" is putting up the prices becuase it's less busy and therefore they need to get more from every customer.
Britain has been running a substantial balance of trade deficit for years, financed by loans from overseas and sales of assets.
This is inevitable, as the main earner of foreign exchange in almost all non oil producing countries is manufacturing and manufacturing has been running down in the UK for years. The Labour party has probably accelerated the process, with tax increases, red tape and further dumbing down of the UK education system,
The effect of all this is we become poorer and our currency will eventually fall, reducing our wealth.
It's the opposite of being a "developing" nation, more like a "deteriorating" one.
History shows all great empires fall, you only have to look at Greece & Rome for examples.
In the case of the UK, this is merely accelerated by a government which seems to have no idea of what is in the national interest.
They could start by tackling the lie that is "free trade". Basically we give countries like China free access to our markets, whilst they make it impossible for us to export to them with 33% tariffs on imports & fixing their currency.
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