chilli13 Posted May 2, 2003 Report Share Posted May 2, 2003 hey oanda.com is even more generous today at 69.09: FXConverter - 164 Currency Converter Results Friday, May 2, 2003 1 British Pound = 69.08765 Thai Baht 1 Thai Baht (THB) = 0.01447 British Pound (GBP) Median price = 68.85568 / 69.08765 (bid/ask) Estimated price based on daily US dollar rates I'm planning on the rates to become even more favorable in a couple of weeks when I'll be in LOS :: Link to comment Share on other sites More sharing options...
Guest Posted May 2, 2003 Report Share Posted May 2, 2003 The problem I highlighted is not the GBP-Baht, but the GBP-Euro. That is now 69.9931 pence to the Euro. I'm hoping the markets don't see 70 pence as a psychological barrier broken and decide to sell the GBP. Link to comment Share on other sites More sharing options...
Guest Posted May 2, 2003 Report Share Posted May 2, 2003 Or "meine Gotte" for "my godmother". But what does she search in this thread?!? :: Best regards Link to comment Share on other sites More sharing options...
chilli13 Posted May 3, 2003 Report Share Posted May 3, 2003 I don't worry too much about the GBP-EUR rate even I should as getting paid in sterling, but I've got about more than half my assets in EUR pegged currency(DKK), so will utilize the most favorable rate at the time However I see what your saying that there's a lot of uncertainty about the pound especially whether or not it's in their favor to join the famed EUR In any case it seems to fluctate a lot, but mostly downwards as of latest Link to comment Share on other sites More sharing options...
Guest Posted May 3, 2003 Report Share Posted May 3, 2003 Gordon Brown, our Chancellor of the Exchequer says no. Tony Blair and his cronies say yes. They can't do it without Gordon's say so. So, they will try to get rid of him. A slight weakening of the pound against the dollar and the euro, possibly due to some selling of the pound due to that 70p/euro mark. We shall see what happens next week. Hopefully, little change. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted May 6, 2003 Author Report Share Posted May 6, 2003 Thats right, they will get rid of Brown. To me the Euro cant work, as Europes economies are all at different stages. For example, say Greece was experiencing a real boom, and needed interest rates increased to stop over heating, and the UK was in a recession and we needed interest rates low to increase spend and borrowing, what would happen?? One interest rate etc etc, is no good. Also the UK will end up forking out for state pensions in other european countries. Any fool can compare prices in different currencies, we dont need one currency and one uber bank for Europe. STH Link to comment Share on other sites More sharing options...
Guest Posted May 6, 2003 Report Share Posted May 6, 2003 It was ridiculous when they used the 'simplyfying of changing currencies on holiday as the selling point of the euro. Now, I think the chances of us joining the euro are slim in the near future. What was the point of a single currency? Was it not to create a market force to rival the US? Seemingly a good idea, in the light of the increasingly aggressive unilateralist behaviour of the aforementioned country. Seeing how our government didn't side with our european allies, it seems an awkward relationship to try to cement by joining the single currency right now. Sort of like, having a baby in order to try cement a bad relationship. Link to comment Share on other sites More sharing options...
jp1 Posted May 7, 2003 Report Share Posted May 7, 2003 SOTH, the Euro has survived the first one and a half years without scars or any major problems. The currency has gained strength vs. major other currencies, such as the US$ and the JPY. I admit that I also was a very strong Euro skeptic and still have some minor reservations towards this currency. But let's be fair. So far the Euro is a success story. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted May 7, 2003 Author Report Share Posted May 7, 2003 In terms of currency strength it has picked itself up, what worries me the most though is that countries cant look after their own economy. Germany at the moment is experiencing a recession, low interest rates are what is needed, yet the ECB has them fixed at a rate far too high for Germany. I think Germany now has 5 million unemployed, they desperately need low interest rates. Not since the Roman empire have so many countries shared the same currency and todays economies are a lot more complex. Like you if it worked I would like it, I am just so wary of it plunging the UK in to a recession when the economy is already fragile. Moreover, like many I see the Euro as a gateway to even more Brussels red tape. STH :: Link to comment Share on other sites More sharing options...
jp1 Posted May 7, 2003 Report Share Posted May 7, 2003 SoTH, I agree with your assessment. It's very difficult to find a right way for all economies involved. I'm not so much worried about Brussel's red tape (it's there but we shouldn't overestimate it) but more with the so called 3% spending deficit criteria. This is a real stumbling block, not only for Germany but also for Italy, France and Portugal (maybe some other nations as well). As I said, so far the Euro is doing pretty well but my skepticism has not yet completely disappeared. Perhaps it's too early to call this currency a success. I can well understand your reservation towards a British participation. I think in 2 or 3 years from now we'll all have some more facts on hand. Link to comment Share on other sites More sharing options...
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