Saturday, February 06, 2010

GBP to THB Exchange Rate On The Way Down....

Sad news for ex pats in Thailand who rely on bringing Sterling into the country for their living costs. Sad news for tourists from the the UK hoping to holiday in Thailand.

The same goes for people from the Eurozone as well.

It looks like Sterling and the Euro are dropping like a stone against the us dollar, and therefore against the Baht ( again ). I am not an expert in any shape or form, but it does not need one to tell me that the UK economy is in dire straights no matter what the pathetic and untrustworthy UK government says. Now that certain Eurozone countries may need bailing out as well, and the UK banks are directly involved, things are going to get worse.

In addition, if you have any savings in the UK and are hoping that they might start making a bit of money instead of losing value, you are unlucky ! It looks like the 0.5 % interest rate is here for months to come. With inlation your savings will stand still or depreciate in value.

Batten down the hatches, stock up on mama noodles and sangsom, and say goodbye to frequent nights out !! I hope it doesn't happen but all the signs are there....

2 comments:

  1. I hadn't changed any Euros for nearly 2 years, was shocked to find out this week that rate had dropped from around 50 to just 42 !

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  2. Now its getting even worse for the pound - I would not be surprised if it went to 43 baht = 1 GBP. The UK Government sucks - they saw the recession coming but did nothing to stop or slow it. Its all part of the EU's social engineering project.....

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