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What's your baht worth? Exchange rates on the street...


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  • 3 weeks later...

The pound's fallen back a bit this week, Wise is now offering 42.62. For the first time in ages, though, there's a positive article about the currency in today's Sunday Times:

 

Traders back sterling as UK’s prospects brighten

Traders are betting on the pound for the first time in 14 months as the UK economy defied expectations of a recession.

Hedge funds, investors and other speculators dealing in futures have been predicting for months that the pound would fall against other currencies. However, there are more futures contracts betting it will rise for the first time since February 2022, according to data from the US Commodity Futures Trading Commission.

Sterling has risen to $1.26 against the dollar, its highest level since May 2022, as it recovers from the chaos after the mini-budget in September. Futures trading represents a sliver of the £5 trillion foreign exchange market but acts as a good indicator of sentiment.

Paul Dales, chief UK economist at Capital Economics, said: “It fits with the narrative of the last few months that the downward pressure on the pound has dissipated.”

 

 

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7 hours ago, Derek Dangleberries said:

I want it to plummet for a couple of days .... I want to buy some pounds for my trip to UK ... But having said that, it aint gonna make much difference for the amount I want...

To be fair it is pretty shit now and has been for a long while.

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  • 3 weeks later...
1 hour ago, Stillearly said:

@Krapow might be worth topping up your Revolut card or ordering some cash for your next trip ..

IMG_5767.jpeg

Reminds me of a guy I knew, called John, who lived in Hua Hin for a time. I believe he put all his pension money into Turkish Lira, probably wasn't a good move. I think he was getting a good interest rate on his money but with the falling of its value over the years I doubt he would be benefitting, I could be wrong. He went back to Pattaya about 4 years ago.

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18 minutes ago, Horizondave said:

Reminds me of a guy I knew, called John, who lived in Hua Hin for a time. I believe he put all his pension money into Turkish Lira, probably wasn't a good move. I think he was getting a good interest rate on his money but with the falling of its value over the years I doubt he would be benefitting, I could be wrong. He went back to Pattaya about 4 years ago.

I knew someone who switched their mortgage to CHF .. much lower rates , but they switched around 2.28 ... when it fell to 1.50 and lower it increased their debt by 50% .. 

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1 hour ago, Stillearly said:

I knew someone who switched their mortgage to CHF .. much lower rates , but they switched around 2.28 ... when it fell to 1.50 and lower it increased their debt by 50% .. 

Haven't seen John for a few years but he was getting a good interest rate at the time but I know the Turkish Lira has been devalued and looking at that chart, he may be having a bumpy ride unless he managed to transfer it to a more stable currency.  He may be on here, think he joined a few years ago but don't think he is active anymore?

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7 hours ago, Stillearly said:

@Krapow might be worth topping up your Revolut card or ordering some cash for your next trip ..

IMG_5767.jpeg

It's been round that for a while now.

Erdogan will win the run off, then it'll take another dive due to his lunatic economic policies. 

I only change about £100 before i go, then bring sterling to change there, better rate. Plus we always go All Inclusive in Turkey, so apart from diving or clothes etc, don't spend that much.

The only way they're getting rid of Erdogan is when he dies. 

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