Two Different Types Of Baht

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Hi expats changing into baht :

Please be aware there are two different bahts with differing rates.

Today was a prime example.

Overnight when Thai markets shut the baht rose to 35.80 as shown on Bloomberg tv and various websites.

These same offshore rates continued in the early hours and up to 10.30am. Thai time and was even followed by the Thai banks in Round 1 of their published rates.

At around 8.00am the onshore rate kicked off at 36.06 so we had two different cross rates for the pound.

70.46 as shown on yahoo finance , forexmarkets etc and 70.90 onshore.

By around 11am finally both markets aligned the rate and both were showing 71 to the pound as a quick phone call to Super Rich showed

THE LESSON : If you are buying baht in the mornings , UNDER CURRENT CONDITIONS wait until at least 11am Thai time when the higher rate OF 36 plus to the dollar clearly pushed by the BOT (although K.Tarisa denies this) kicks in. That way you could save/net yourself an extra one percent .