Pound to Dollar

[KeithD]

:omg: 1.39

I was going to buy my holiday money on Sunday, but thought I'd hold off for the Obama feel good factor.....but Brown managed to :furious3: that up well & truly! :doh

[kermit123]

i need it to be 50php to pound lol its getting there :) gaz/maybs lol

[joebloggs]

i need it to be 50php to pound lol its getting there :) gaz/maybs lol

well you'll get 40php to £ when you have to send it back to them misses :doh

:D

[somebody]

well you'll get 40php to £ when you have to send it back to them misses :doh

:D

May have to use euros or dollars soon. Joe may have to use gloves so he does not touch the horrible euro as he gets his pay.

http://www.bloomberg.com/apps/news?pid=20601087&sid=agxlt5ZPtyLA&refer=home

[KeithD]

One of the big money trading boys in Singapore said the £ is done for years now, even forever as they now regard the UK as bankrupt, with few exports to help bail it out. :doh

Well done Gordon....my hotel in the US was £50/night last time, this time it's £72+ and they haven't put the price up! Kiss me quick Gordon >>> :action-smiley-081:

Now usually a government would use money to support the pound at 1.5, but Gordon has no money :NoNo: , so it is now 1.37 and dropping.....

[somebody]

One of the big money trading boys in Singapore said the £ is done for years now, even forever as they now regard the UK as bankrupt, with few exports to help bail it out. :doh

Well done Gordon....my hotel in the US was £50/night last time, this time it's £72+ and they haven't put the price up! Kiss me quick Gordon >>> :action-smiley-081:

Now usually a government would use money to support the pound at 1.5, but Gordon has no money :NoNo: , so it is now 1.37 and dropping.....

The next idea i belive is capital write down of domestic and small busines debts. So all those who remained debt free or made huge efforts to pay off or sadly went to the wall will not be happy...

But hey im sure very soon intrest rates will go though the roof.

[KeithD]

If he bunged interest rates up to 3%+ that would put more confidence in the £.

But then, I'm only a professional gambler, whilst Brown is a professional Muppet :rolleyes:

[walesrob]

The future's so bright I gotta wear shades....:Cuckoo:

I used to be anti-Euro €€€'s, but lets face it, the way things are going, we might as well accept it and get it over with.

[KeithD]

The future's so bright I gotta wear shades....:Cuckoo:

I used to be anti-Euro €€€'s, but lets face it, the way things are going, we might as well accept it and get it over with.
At least we'd be much better off against the $$$

[asiansmiler]

This is alarming to know...

Well, Just to give u a bit of myself, I am living in Thailand for almost 4 years now, and I have witnessed how the exchange ridicule on the table, if you know what i mean, for a couple of years GBP versus THB (Thailand Baht) is like a pound is to 67 THB... Imagine, since the financial crisis hits the floor, it went down to an alarming 47.58 THB for a pound... So, if you got a thousand pound, automatically it would give you 47,000 THB and extra, whereas last year or a couple of years ago, it was like 67,000 THB, so it is clear that we're losing 20,000 THB.... what a waste???

[KeithD]

All is not a simple as that though. Take the £/$, the average market price would be around 1.7, so we are going through a bad time at the moment, but we had been through about 3 excellent years before that due to the US being weak.

So anything over 1.7 during those years was a bonus, as with betting, I'm just giving some back for now.

[kermit123]

not all bad lads :) im bring php converting it to pounds wahayyyyyyyyyyy im makeing 35% extra approx gaz/maybs

[somebody]

not all bad lads :) im bring php converting it to pounds wahayyyyyyyyyyy im makeing 35% extra approx gaz/maybs

Which sadly your need all of and possibly more to pay for the increase in living in the UK:NoNo:

[somebody]

If he bunged interest rates up to 3%+ that would put more confidence in the £.

But then, I'm only a professional gambler, whilst Brown is a professional Muppet :rolleyes:

I can see the muppets issuing a writ soon for that cooment:D

[somebody]

All is not a simple as that though. Take the £/$, the average market price would be around 1.7, so we are going through a bad time at the moment, but we had been through about 3 excellent years before that due to the US being weak.

So anything over 1.7 during those years was a bonus, as with betting, I'm just giving some back for now.

I see your point but many really are gunning for Sterling and if any of the big boys do a soros well may be 1 pound to a peso shortly. NO money to shore up the pound and no idea from Gordon.

[fred]

Now hoping that the housing price correction will pick up speed..
Possibly the best place and value for Pounds and long term capital security will be a house..
(not yet though)

[KeithD]

Possibly the best place and value for Pounds and long term capital security will be a house..
(not yet though)
Between Spet 09-Mar 10 will likely be when it bottoms out, don't listen to the 'experts' they've all got bugger all right so far! :doh

[Pepe n Pilar]

£-USD = 1 - P1.39
£-Phil Peso = 1 - P64.45
$-Peso = 1- P47.51

So it's better to send thru xoom as it will be from £-$ then to peso rather than making the transfer at Barclays where £ will be converted to peso. Was doing the computation earlier before choosing which is better.

[somebody]

Now hoping that the housing price correction will pick up speed..
Possibly the best place and value for Pounds and long term capital security will be a house..
(not yet though)

Once they are three times or so avg wage which is going to be more like 20k-30k depending on location a year or so. So 60 to 90k so a long way to go in most areas still.

Both private and public sector the silly wages and expenses are going to disapear with the surplus of talent,skils,workers etc.

Still a lot of new and old propeties either sitting around empty or propties still being bulit or mothballed nearly complete in many areas.

Supply and demand and all that.

Look how many people buggering off to various parts of the globe both indigeous, those who been here longterm and short term as workers, students.

Trains, buses and public areas in our area seem to be much quieter than in recent years and a far higher mixed of settled people . To let signs sitting for months when before you didn't even see them.

Demand has gone down and all the supply is not being used means prices HAVE to go down further surely.

In one of the london free papers you can buy flats and house quarter share for guess what about 3 times a avg wage.

[fred]

Between Spet 09-Mar 10 will likely be when it bottoms out, don't listen to the 'experts' they've all got bugger all right so far! :doh


Im betting the housing market will keep heading downwards for at least 2/3 years until prices get low enough to even consider it as "bottomed out"..
You only need to look at how recent history has behaved with housing boom and bust cycles to realize that..I have a feeling that coupled with the credit crisis and the global financial problems it could be much worse this time.
I was very fortunate to be a money week subscriber back in 2006 when they urged us to sell property back then.
So glad I did now or my plans to live here would have taken a serious set back.
Not sure what view Money week hold now but I would be very interested in finding out.

[KeithD]

A 30% drop is probably classed as the norm in these circumstances in the UK, and that should happen in about 9 months, by then credit for mortgages will also be moving, so house prices after that will be bouncing up & down a bit. They may dip a bit more, but not much.

[Ady]

We have already dropped 30% against the dollar in the last few months alone (my sister went to New York in August and was getting $1.95). I was getting 88 in WU, down to about 80 in August, and is now at 63. 21% drop.

I think we will be waving bye bye to our pounds and our pennies and going all Euro. Cor Blimey Guvnor, 3 for a euro, 2 for yer pahnd.

[KeithD]

We have already dropped 30% against the dollar in the last few months alone .....
We're talking about house prices in the UK :xxgrinning--00xx3:

[somebody]

Im betting the housing market will keep heading downwards for at least 2/3 years until prices get low enough to even consider it as "bottomed out"..
You only need to look at how recent history has behaved with housing boom and bust cycles to realize that..I have a feeling that coupled with the credit crisis and the global financial problems it could be much worse this time.
I was very fortunate to be a money week subscriber back in 2006 when they urged us to sell property back then.
So glad I did now or my plans to live here would have taken a serious set back.
Not sure what view Money week hold now but I would be very interested in finding out.

Do remeber Fred this is NOT like recent housing crisis this is the worse situation since the great depression and has the potential to be far worse due to the sheer scale of it.

As avg wages drop and banks bring in sensible lending policys this will determine the avg house price.

So yes at least 2 or 3 years untill they bottom out and they may not rise considerably for a long time. The people around here will possibly be like the generaton who remeber the great depression and very cautious and careful with money once bitten twice shy and all that.

heres your answer guv

http://www.moneyweek.com/investments/property/why-house-prices-could-fall-by-fifty-percent-15753.aspx

[Ady]

We're talking about house prices in the UK :xxgrinning--00xx3:



D'Oh!

[KeithD]

You can't compare it with the Great Depression.....they didn't have Gordon Brown then! :icon_lol:

[somebody]

You can't compare it with the Great Depression.....they didn't have Gordon Brown then! :icon_lol:

So you mean everytime you see him invade your tv screen you dont think oh look the ceiling is quite intresting:D

No I think Gordon has a chance with his impressive skills to make it far worse and ensure the problem continues for years and years:rolleyes:

[fred]

So yes at least 2 or 3 years untill they bottom out and they may not rise considerably for a long time.
Not too worried about the rise Andy.. More concerned about the rental returns until they do.
With the pound so weak and interest rates so low,from an income point of view I think it might be my best option..But as I say..Not yet!!

Thanks for the link BTW...Seems like I was bang on.
Regards,

Fred.

[kermit123]

mmmm very intresting ,well i hope to work again in uk i have enouth funds to see me throuth 3 years if we carnt find work of any sort but if me or my wife works thats bills paid, .and then at least i have paid my last 3 years of my uk pension :)if i dont find work sign on not for money but to pay my pension with credits, so less pounds worth against php sorry to say better for me at moment. if it goes up in year or so ill transfer it back to php untill then see what happens gaz/maybs

[somebody]

Not too worried about the rise Andy.. More concerned about the rental returns until they do.
With the pound so weak and interest rates so low,from an income point of view I think it might be my best option..But as I say..Not yet!!

Thanks for the link BTW...Seems like I was bang on.
Regards,

Fred.

I think Fred you would need to choose the location well (as im sure you would) as now in the local london papers developers are giving away 20 grands worth of freebies to sell places including travel for a year passes for cinema etc. Ie they are really really desperate.
The best bet round here for most small time landlords was the Local authority renting it out on your behalf and getting the gaff back in the same shape as you left it.

But I was told many of the developers in our area are offering whole blocks of luxury flats and houses in special deals so now at least our local council appears to be thinking this is easier than indivual houses and flats.