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Expats feeling the pinch as GBP sinks to an all time low against the THB

Samui Times Editor

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Expats feeling the pinch as GBP sinks to an all time low against the THB | Samui Times

The British pound sank to a new low against the baht on Monday.

The pound slumped to just 37.55 baht.

Expats feeling the pinch as GBP sinks to an all time low against the THB | News by Samui Times

Analysts said the fall came after more rhetoric from the British government, which is stepping up its plans in the event of a no deal Brexit. 

The situation is further compounded by the strong baht.

Searches on multiple exchange rate websites on Tuesday morning make for grim reading for British expats. 

And things could get worse – with analysts from KBank last week predicting the baht will remain firm until the end of the year.

It’s not only British expats who are affected by the exchange rate, Aussie expats in Thailand are also feeling the pinch, where it is a similar story with the Aussie dollar. 

One Aussie expat in Pattaya told Thaivisa recently how the best part of 25,000 baht has been wiped off his pension.

David, who has lived in Pattaya for 5 years, explained how he receives a monthly pension of AUD3,000, which 5 years ago meant he had about 90,000 baht each to spend each month in Thailand.

However, that same AUD3,000 is now only worth about 65,000 baht. 

David said that while he plans to stick it out, many of his other Aussie friends in Thailand have either already left Thailand or are considering it.

For Brits, the worse may yet be to come, particularly if the baht remains strong and a no deal Brexit proves unavoidable. 

Thai Visa

Expats feeling the pinch as GBP sinks to an all time low against the THB | News by Samui Times
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