British and Australian expats and tourists ponder the Thai baht
The British pound continues to sag against the strong Thai Baht. And things are predicted to worsen for British tourists and local expats relying on funds out of the UK, as analysts predict the GBP to drop further as the date approaches for a ‘no deal’ Brexit and the Thai Baht continues to surge.
As of 11.30am Thai time, the Baht to GBP exchange rate has dropped below 37.5 baht to the pound.
In August 2015 a British Pound would fetch around 55 baht. That situation has dramatically changed in the four years since, exacerbated by fears over the impending Brexit negotiations.
In the past week, since Boris Johnson was appointed by the Conservative Party to head the British Parliament, the pound has continued to languish and has dropped another few percent.
And ThaiVisa.com reports that the situation is much the same for Australian tourists and expats with the bottom dropping out of the value of their Aussie exchange as well.
One Aussie expat in Pattaya told ThaiVisa recently how the best part of 25,000 baht per month has been wiped off his pension, dropping from around 90,000 baht per month to around 65,000 baht per month.