Currency Exchange booths ripping ppl off in high season..

[Acemaker]

10 hours ago, Huayrat said:

Currency Rates don't drop anywhere in the world on a weekend so it is indeed a rip off..  They on average always offer 0.25 less than the XE rate.. They are now offering 0.7 which is a con and to all you ppl commenting saying it isn't much. Well it isn't for you small fish who are scraping the barrel but it is for us big players

Thank you, Mr. Trump!

[HerbalEd]

You do know that exchange rates can go up and/or down quite often, right? Sometimes several times in one day.

 

Anyway, they post the exchange rate and you can either exchange at that rate, or not. So where's the rip-off??

[LeoTex]

I agree that the exchange rate is based on supply, demand and I'm sure the most important factor is the value of your home country's currency.

When I was there last week the exchange rate of the USD was up and down like a yoyo.

I think the low was 32.46 and the high was 32.72 and it change everyday except I think on Sundays.

I never had thought that the rate changes were a rip off, and high/low season doesn't have anything to do with the exchange rate.

I think the rip off is when TT is exchanging at 32.72 to the USD and the other yellow exchange place states they have the best rate at 32.50.

 

LeoTex

[jacko45k]

On 1/1/2018 at 10:01 PM, greatwhitenorth said:

less than one percent difference,  I would hardly call it a rip off.    where do you use all those satang coins?

Tips...

[Briggsy]

I changed some money on 31 Dec and was surprised to notice around 6pm-ish, the spread widened with the Pattaya currency exchange booths (i.e. worse deal for customers whether buying or selling baht). So the OP has a point although his hyperbole is a bit much.

 

Having said that, the currency exchange booths still offer excellent value and convenience when compared with options available in other countries.

[Jip99]

1 hour ago, Briggsy said:

I changed some money on 31 Dec and was surprised to notice around 6pm-ish, the spread widened with the Pattaya currency exchange booths (i.e. worse deal for customers whether buying or selling baht). So the OP has a point although his hyperbole is a bit much.

 

Having said that, the currency exchange booths still offer excellent value and convenience when compared with options available in other countries.

 

Agree 100% but it does appear that peak season spreads are not as good as earlier last year.... they look around 35/40 Satang down to me.

[simoh1490]

17 hours ago, Huayrat said:

Not on a weekend they dont

The FOREX market is operated by Thompsons Reuters over the weekend, after the banks close, on Monday morning control of it is passed back to the banks - the Friday afternoon close rate is known as the weekend rate and is slightly higher than normal because of the weekend when trading is closed, it is trading rather than retail that impacts an exchange rate.

Edited January 3, 2018 by simoh1490

[TaaSaparot]

Lowered the rate over the holiday period, which I hope was to pay their staff double time.

 

Back to what it should be today .... 43.97 at TT Exchange Booths.