Baltorep

I leave on Thursday for my solo holiday to Hanoi and Bangkok. My point of indecision is at how cash should I take. Considering I will us an ATM to get my local currency or charging most purchases. Carrying cash almost seems...dare I say, archaic. Would $1000 be too much for two weeks? I am leaning towards $500 with about $50 in small bills for tips and such. What do you think?

KimJapan

You don't need any dollars for tips as you'd be better tipping in local currency.

KimJapan

Also, something to consider about Thailand.

They are operating two exchange rates right now, one on shore and one off shore. Your foreign ATM card will get the off shore rate, which is less favorable by about 4 baht less per dollar than the onshore rate you would get by exchanging cash or travelers checks in Thailand.

Kathie

Don't take cash for tips. People would prefer to be tipped in the local currency. I get cash from ATMs, but I do always carry a couple US$100 bills that I can exchange if a cash machine is out of money/hard to find/has a long line.

Do note that dong are non-exchangeable outside of VN. Spend it or give it away before you leave VN or save it for your next trip.

Baltorep

So Kim it seems the $ to Baht rate is running about $1 to about 33/34Baht does that mean the ATMs are giving you about 29/30 Baht per dollar. Wow, that hurts. Has anybody been to BKK in April that can tell me what rate they received from the ATM. It seems the slide has leveled out.

Kathie

Baltorep, check with your bank. Many (most) banks charge a foreign exchange fee on ATM transactions of 3%. If you bank charges this, it's obviously better to exchange cash. Since my bank started charging this fee last year, I opened an account at a bank that doesn't charge a foreign exchange fee on ATM withdrawals and does not charge for using a foreign ATM. I assume this is what Kim is referring to. In November, I receoved the bank rate on my US ATM card, which means that I got the rate you see printed in the paper or on the internet. It was always slightly better than the cash exchange rate (but the difference was so small as to be meaningless).

KimJapan

I'm not referring to the exchange charge, I'm referring to the two exchange rates that are now being used. One is offshore, for exchange taking place outside of Thailand, like when you use your US ATM or credit card. The other is onshore, for exchange within Thailand, like when you go to the bank and exchange cash or traveler's checks.

http://www.iht.com/articles/2007/04/...berg/bxbux.php explains about why this is happening.

http://www.bbl.co.th/Bangkok+Bank/We...s/FX+Rates.htm is Bangkok Bank's exchange rate page for daily exchange within Thailand. April 30's rate for US Dollars is 34.42 for cash, 34.69 for travelers checks.

Oanda's median rate for Dollar/Baht is 32.50 (interbank median). Bloomberg.com lists the Baht at 32.75 at the moment, also interbank rate. Likely an ATM transaction would get about 32 baht to the dollar at this rate.

I noticed this when I bought domestic airline tickets with my Japanese credit card and was checking the exchange rates...better rate given in Thailand.

Kathie

Ki, very interesting. I was not aware of this. It looks like we need someone in Bangkok now to tell us what kind of exchange rate they got at an ATM!

aussie417

I found the majority of Vietnamese very eager to accept the US dollar. I felt the dollar to be very easy to negotiate a price when purchasing small items. I actually felt that I should have brought more in US dollars. Enjoy yourself, it is the trip of a lifetime.

Cilla_Tey

We've had many discussions re the use of USD in Vietnam, Cambodia etc. You'll find that USD is the preferred currency in Hanoi and I'd bring lots of small notes. The places I shopped didn't take credit card. In BKK, I change my money to the local currency. Again depending where you shop you may not be able to charge to a card. Also beware of c/c fraud. I only use my card in the big stores. You'll find that in Asia, the locals mainly use cash. An unassuming guy may have a few thousand dollars in his pocket.

simpsonc510

I had some baht left over from previous trips (and at a BETTER exch rate...) for my trip this past February. I also carried along about 2K, and I came home with a lot. I'm a shopper... I admit it!!... but I could not even come close to my $800 customs limit this last trip.

I have an ATM card but did not use it on the trip. I had given my bank a heads up, just in case though.

I'd take some cash with. Your 1k is probably enough.

Have a great time! Leave some things for me to buy. I'll be returning in mid-July.

Carol