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Tuesday, October 28, 2008

SOBERING STATS ON THE STATE OF STERLING

I've long since given up converting prices from Thai baht to UK Pounds, but yesterday I did a quick calculation that gives a worrying reflection on the state of the British economy. If I was converting my Thai baht salary into Pounds I would be earning around £265 more this month than I did last month.
The exchange rate has dropped from 60.42 Thai baht to the Pound at the start of October to 52.07 this morning, according to the latest rates from Bangkok Bank. This isn't about the Baht being strong, moreover it's the weakness of Sterling that's to blame. The Thai economy isn't exactly strong right now and the Stock Exchange of Thailand fell another 10.5 per cent yesterday.
It's not a bad time to be paid in Thai Baht right now.

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