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MainMoney Matters – Dollar to Baht exchange rate? All Topics

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Valetta
I would have thought that for virtually all persons hollidaying in Thailand the only rate to consider would be the onshore rate which would apply on exchanging IN THAILAND cash,travellers`cheques,or other letters of credit.What financially informed person intending to stay in Thailand would consider buying baht outside Thailand to spend in Thailand?


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Posted on: 7:46 pm on Dec. 8, 2007
joon
hey thaiup, where did get that rate from? I need to exchange enough money for three months so I could use every baht possible....


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Posted on: 4:36 am on Dec. 9, 2007
Mel Gibson
Valetta, your point iscorrect. But this threadbegan when on-shore and off-shorerates where thesame. Predictions of rises and falls on the open market where made, itwould beunfair to use the twisted / bent Thai on-shore rate to validatean argument.

yesmyspace/bar key isFARRKKKED.
Mel


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Posted on: 10:54 am on Dec. 9, 2007
CalEden
The on shore exchange rate appears to be just under 3 baht (+) difference (US/Baht exchange) last Oct/Nov.


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Posted on: 10:57 am on Dec. 9, 2007
Mel Gibson
joon
,,,hereis thge link I think you want,,,,
Foreign+Exchange/FX+Rates/

cheers

Mel


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Posted on: 11:00 am on Dec. 9, 2007
ThaidUp

Quote: from joon on 7:51 pm on Dec. 9, 2007

hey thaiup, where did get that rate from? I need to exchange enough money for three months so I could use every baht possible....



Here is the best way to exchange money. Put all the money in your bank account that has a MasterCard or VISA checkcard ability. Meaning that you can use your ATM card like a debit card. Go into any bank, (I use SCB) and tell them you want a cash advance. You can get up to you daily purchase limit in cash.

Now if you were to do a cash advance from your normal credit card there would be a lot of fees.

My bank, Wells Fargo charges only a $3.00 USD Cash dispersement fee and the exchange rate is like I just quote you.

Now if I use the same card to actually purchase something they charge a 3% foreign conversion fee.

If I take money from an ATM they charge a flat 5.00 transaction fee with a max withdrawel limit of $500.00 that is 1%.

The VISA/MASTERCARD Cash advance on a account that has the money in the account is the way to go. All you need is a valid passport for ID.


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Posted on: 5:24 pm on Dec. 9, 2007
badfishlbc
Nice trick Thaidup. I can see why that works, you can't get hit with cash advance charges when you have money in the bank... I have Wells Fargo, too. Is the limit going to be $300 for withdrawal?

Not sure if it has been mentioned here before but Capitalone credit cards do not charge that foreign conversion fee.


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Posted on: 6:26 pm on Dec. 9, 2007
Mel Gibson
US$300,,,,nearly enough for a Mac ANDFries.

The rate is now 30.38.

I guess my Christmas prediction was accurate.

I'll go "Double or nothing",,,,,,29.3 or less by mid-March.

Any takers???
P.S Iwill not accept USD

Mel.


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Posted on: 12:39 pm on Dec. 10, 2007
badfishlbc

Quote: from Mel Gibson on 3:54 am on Dec. 11, 2007

The rate is now 30.38.



That's the offshore rate Mel. Onshore is around 33.70.


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Posted on: 5:23 pm on Dec. 10, 2007
gary
Badfish,

I don't think that's the answer Mel wanted

gary


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Posted on: 5:52 pm on Dec. 10, 2007
     

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