Just When We Thought The Pound Was Recovering

Post by **Aussie Mark** » Tue Oct 13, 2009 12:55 pm

Gents whats with all the long faces The Land Down Under is in a boom Aussie Dollar at 91 cents at the moment to the US Dollar.Great for when we go on holidays Just back from Bali AUD at 8700 Rupiah
A millionaire again cant wait to get back to LOS

Post by **hhfarang** » Tue Oct 13, 2009 1:52 pm

Gents whats with all the long faces The Land Down Under is in a boom Aussie Dollar at 91 cents at the moment to the US Dollar.

I think that says more about what our own politicians (U.S.) and the Federal Reserve have been doing to the U.S. Dollar in the past six or so years than it says about the Aussie Dollar. If the current administration keeps printing paper money and borrowing from other countries as fast as it has so far the Australian Dollar will be worth two U.S. Dollars by this time next year... good for you, very bad for me...

Post by **JimmyGreaves** » Tue Oct 13, 2009 5:20 pm

hhfarang wrote:
Gents whats with all the long faces The Land Down Under is in a boom Aussie Dollar at 91 cents at the moment to the US Dollar.
I think that says more about what our own politicians (U.S.) and the Federal Reserve have been doing to the U.S. Dollar in the past six or so years than it says about the Aussie Dollar. If the current administration keeps printing paper money and borrowing from other countries as fast as it has so far the Australian Dollar will be worth two U.S. Dollars by this time next year... good for you, very bad for me...

From where I stand the pound sterling is doing worse than the US Dollar

Post by **JimmyGreaves** » Tue Oct 13, 2009 5:31 pm

Forgot my URL

http://newsvote.bbc.co.uk/2/hi/business/8304028.stm

Post by **norm** » Tue Oct 13, 2009 5:52 pm

The aussie and the kiwi are both looking good compared to US/UK and the baht is also holding it's own. My bet is the AUD will hit parity with USD by early next year.

I'm not a doom & gloomer but the USD and pound sterling are not looking to good anytime soon. When they get done passing around money to the people who caused the problem it will start to get better slowly, my guess is 5 to 10 years.

Post by **caller** » Wed Oct 14, 2009 4:29 am

JimmyGreaves wrote:Forgot my URL

http://newsvote.bbc.co.uk/2/hi/business/8304028.stm

I thought there was some hope in the last chapter?

Post by **shunpike** » Wed Oct 14, 2009 3:42 pm

Canadian $ is doing well in relation to the baht and the USD/GBP. I don't think it's so much about the strength of the Aussie $, the CAD, the Baht, or the Euro, but the weakness of the USD and the GBP. Looks like those two currencies will remain undervalued for a while still. I feel for any folks who are reliant on a fixed income from the US or the UK.

Post by **hhfarang** » Wed Oct 14, 2009 4:42 pm

I feel for any folks who are reliant on a fixed income from the US or the UK.

Thanks for that Shunpike... my income has gone down by exactly 25% since I moved here simply because of the exchange rate!

Post by **shunpike** » Wed Oct 14, 2009 4:52 pm

It is a sad state of affairs HHf, you did everything correctly, planned ahead, fulfilled all financial and legal (immigration/labour) requirements, and all you can do is sit and watch it go down the tubes. You are powerless to effect the rise and fall of your currency. Bladdy shame, as the Brits say...

Post by **BaaBaa.** » Wed Oct 14, 2009 6:01 pm

hhfarang wrote:
I feel for any folks who are reliant on a fixed income from the US or the UK.
Thanks for that Shunpike... my income has gone down by exactly 25% since I moved here simply because of the exchange rate!

Can you only have your aircon and water on for 18 hours a day now HHF?

Post by **Big Boy** » Wed Oct 14, 2009 7:04 pm

shunpike wrote:It is a sad state of affairs HHf, you did everything correctly, planned ahead, fulfilled all financial and legal (immigration/labour) requirements, and all you can do is sit and watch it go down the tubes. You are powerless to effect the rise and fall of your currency. Bladdy shame, as the Brits say...

Whilst I also sympathise with those who are struggling (and HHF), I think they also have to take an element of the blame. They have done their planning based on a strong pound or dollar. If they had prepared properly, they would have looked at trends, and maybe just noticed that the Baht has dropped to around the 30 Baht to the Pound within the last 20 years. What goes up, usually comes down.

Post by **thaiorchid** » Wed Oct 14, 2009 8:10 pm

Totally agree with BB.
Whereas people who are dependent on pensions or rentals from the old country have my full sympathy. It most be terible to see your monthly income decrease by 20-25%, without beeing able to do something about it.
On the other hand, I know quite a few people here from UK, who are here to stay, who have chosen to keep their money in bonds or funds back in old Blighty, coz in their mind it was safer than bringing their money to a third world country like LOS. They played the lottery and lost, no sympathy there.

By the way, even after a sharp correction today, SET is up 60% this year.
Year on year even more.

thaiorchid

Post by **BaaBaa.** » Thu Oct 15, 2009 4:55 pm

Up nearly 2 baht in a few days.

Post by **JimmyGreaves** » Thu Oct 15, 2009 5:23 pm

wow cannot believe it, glad I held on before my transfer

Post by **PeteC** » Thu Oct 15, 2009 5:35 pm

Here are the latest buy/sell spreads. As mentioned in another thread a few weeks ago, the Pound had a 3+ point difference then.

I'm no expert but I assume when the banks are not sure what direction the currency is going, the spread increases.

The Yen was a few weeks ago within a few tenths, now it is about 1.5 so something unsure there also. Pete

USD 33.14 33.84
GBP 53.28 55.20
EUR 49.45 50.67
JPY 36.67 38.02
HKD 4.22 4.41