Exchange Rates
Jan 9th, 2008, 09:20 AM
#3
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xe.com currently lists that as the international rate, which is different than the rate on the ground in Thailand. I've used that website for many years for exchange rates, and they went from the Thai rate to the international rate just before I went to Thailand in November and didn't post that was what they had done until a week or two later! No doubt, the US dollar continues to fall, but it isn't yet that low in Thailand.
Jan 9th, 2008, 09:37 AM
#5
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I found out recently that you can use Google.com to easily convert currencies. Just enter, in this case, thb to usd. I got 1 U.S. dollar = 29.7689926 Thai baht, so the OP is about right.
Using Google this way requires you to enter the official nomenclature for currencies.
It IS disconcerting that the USD is dropping in value so much.
K.
Using Google this way requires you to enter the official nomenclature for currencies.
It IS disconcerting that the USD is dropping in value so much.
K.
Jan 9th, 2008, 09:47 AM
#7
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Thailand has an onshore exchange rate and an offshore exchange rate. 29.55 is offshore rate. The onshore rate is around 33 baht per dollar, around the same rate it has been for about a year. http://www.scb.co.th/html/exchange/bk-txtexchange.htm The onshore rate is what you will get when you exchange your dollars to baht in Thailand.
Jan 9th, 2008, 09:51 AM
#8
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That's strange. I just got back less than a week ago and I got 33.23 about a week before that for my cash exchange.But, I exchanged a traveler's check a little over a week ago and got 33.50 a higher rate than cash due to the 33 baht per check charged to cash them. Happy Travels!
Jan 9th, 2008, 09:59 AM
#9
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Bill, there is a cash machine and an exchange window inside baggage claim.
The exchange rate issue has become more confusing as increasing numbers of exchnage websites quote the international rate rather than the local in-country rate for Thailand. It threw me right before my November trip, as they changed it without a notation. Now xe has a notation that it is the off-shore rate. Google apparently does not have that note.
The exchange rate issue has become more confusing as increasing numbers of exchnage websites quote the international rate rather than the local in-country rate for Thailand. It threw me right before my November trip, as they changed it without a notation. Now xe has a notation that it is the off-shore rate. Google apparently does not have that note.
Jan 9th, 2008, 10:01 AM
#10
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What is the rate if you use an ATM card in Thailand instead of exchanging cash or travelers checks?
We usually use an ATM card and carry some cash and travelers checks. Just wondering about the ATM and whether we need to carry more cash and travelers checks. Thanks.
We usually use an ATM card and carry some cash and travelers checks. Just wondering about the ATM and whether we need to carry more cash and travelers checks. Thanks.
Jan 9th, 2008, 10:34 AM
#11
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Wait until you get to Thailand to get your best exchange rate.
There are bank money changers open 24 hours a day at the airport. ATM's are also available. You can use debit cards too!
Some credit cards have high fees for ATM use overseas. Check with your bank or credit union. If you do use an ATM take out the maximum you can to cut down on lots of fees for small withdrawals. You will have a chance to change your Thai baht back to your home money at the airport before you leave.
My credit union pays for any ATM charges, even from overseas! My travelers checks are also free of commission, see if you have a bank or other financial institution in your area that pays your ATM charges and sells TCs free of commission! The fee to cash a travelers check is 33 baht. Don't take a bunch of low value TCs where you have to pay a dollar fee to cash a $5 TC! Bring the largest size TC you can, like $100 sizes.
I bring all three, cash, travelers checks and a debit card. I keep a credit card with me in case of emergencies but so far in 10 years I haven't had to use it overseas!
Make sure you notify your bank that you will be overseas so that when you want to use an ATM your withdrawal won't be refused because fraud is suspected. Also take more than one debit or credit card with you so that if that single card gets lost or stolen you won't be broke!
I never use a credit or debit card when paying for cheap purchases, especially in restaurants. Pay cash for cheap purchases! The more you flash your credit card around the greater the risk of some "extra" charges showing up in your statement after you get home!
Good luck.
There are bank money changers open 24 hours a day at the airport. ATM's are also available. You can use debit cards too!
Some credit cards have high fees for ATM use overseas. Check with your bank or credit union. If you do use an ATM take out the maximum you can to cut down on lots of fees for small withdrawals. You will have a chance to change your Thai baht back to your home money at the airport before you leave.
My credit union pays for any ATM charges, even from overseas! My travelers checks are also free of commission, see if you have a bank or other financial institution in your area that pays your ATM charges and sells TCs free of commission! The fee to cash a travelers check is 33 baht. Don't take a bunch of low value TCs where you have to pay a dollar fee to cash a $5 TC! Bring the largest size TC you can, like $100 sizes.
I bring all three, cash, travelers checks and a debit card. I keep a credit card with me in case of emergencies but so far in 10 years I haven't had to use it overseas!
Make sure you notify your bank that you will be overseas so that when you want to use an ATM your withdrawal won't be refused because fraud is suspected. Also take more than one debit or credit card with you so that if that single card gets lost or stolen you won't be broke!
I never use a credit or debit card when paying for cheap purchases, especially in restaurants. Pay cash for cheap purchases! The more you flash your credit card around the greater the risk of some "extra" charges showing up in your statement after you get home!
Good luck.
Jan 9th, 2008, 11:54 AM
#13
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Traveler's checks get a higher rate, than cash, but each check is charged 33 baht. I personally don't use my American bank-issued ATM cards overseas for several reasons...plus my bank charges $5.00 per transaction. I can't use my credit union debit card in Thailand since Thailand is on their high fraud list so the card won't work there...so cash and traveler's checks for me. Happy Travels!
Jan 9th, 2008, 01:04 PM
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You get the best exchange rate via an ATM card BUT you have to watch out for ATM use charges and for foreign exchange fees. I have an account that charges neither, so the ATM is the best way to go for me. I do always carry a few US$100 bills just in case I can't find a working ATM.
Jan 9th, 2008, 03:38 PM
#18
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No, the local bank which runs the ATM gives you the onshore rate, BUT BE SURE TO CHECK YOUR BANK CHARGES. B of A charges a whopping $5 PLUS a 0.5% exchange fee, which can make a small withdrawal very expensive.
Jan 9th, 2008, 04:34 PM
#19
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A Michael says, if you are withdrawing money in Thailand, you get the in-country rate. Likewise, using a credit card also give you the in-country rate. But in both instances, you need to be aware of any charges your bank levies, such as exchange fees or ATM withdrawal fees.
For me, using an ATM is still the best way to get cash in Thailand.
For me, using an ATM is still the best way to get cash in Thailand.
Jan 9th, 2008, 05:25 PM
#20
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I like to have some emergency travelers' checks since they can be replaced if lost or stolen. I only cash the traveler's checks at the end of the trip if I'm running low on cash and usually not that many of them are being cashed by then. Whatever leftover ones I have, I just bring home and use them on future trips. I don't get charged a fee through AmExp for purchasing them. I also always take a credit card or two along to pay for big purchases and to thus free up the cash. Happy Travels!
