How To Get The Offshore Thb Exchange Rate When Transferring Money Out Of Thailand?

[JohnWalker]

Hi All,

Sorry if if this question has been asked before.

As you know, there is significant difference between the offshore and onshore THB exchange rate (offshore about 32THB/1USD, versus onshore about 35THB/1USD).

I have some THB in a Thai bank account that I want to transfer to the US. I want to do the transfer in THB and let the receiving bank exchange it into USD (to take advantage of the better offshore rate).

But how?

Seems like all the local Thai banks will only exchange first and then send it as USD via TT.

Apart from taking THB cash with me and flying out, is there any other way? Bank Check? Demand Drafts?

Thanks!

[topfield]

Hi All,

Sorry if if this question has been asked before.

As you know, there is significant difference between the offshore and onshore THB exchange rate (offshore about 32THB/1USD, versus onshore about 35THB/1USD).

I have some THB in a Thai bank account that I want to transfer to the US. I want to do the transfer in THB and let the receiving bank exchange it into USD (to take advantage of the better offshore rate).

But how?

Seems like all the local Thai banks will only exchange first and then send it as USD via TT.

Apart from taking THB cash with me and flying out, is there any other way? Bank Check? Demand Drafts?

Thanks!

No there isn't.

But the other way round and a 10 percent profit is available for the taking !

Should you be lucky enough as to hold baht in an account offshore you can switch the funds to dollars and send the dollars back to Bangkok where they can be changed into baht at 35 !!

[sonicdragon]

Hi All,

Sorry if if this question has been asked before.

As you know, there is significant difference between the offshore and onshore THB exchange rate (offshore about 32THB/1USD, versus onshore about 35THB/1USD).

I have some THB in a Thai bank account that I want to transfer to the US. I want to do the transfer in THB and let the receiving bank exchange it into USD (to take advantage of the better offshore rate).

But how?

Seems like all the local Thai banks will only exchange first and then send it as USD via TT.

Apart from taking THB cash with me and flying out, is there any other way? Bank Check? Demand Drafts?

Thanks!

The reason it is called the "offshore" rate is because it is not available to people who have baht funds onshore.