taxexile Posted April 5, 2007 Share Posted April 5, 2007 (edited) from xe.com Live mid-market rates as of 2007.04.05 13:11:10 UTC. Refreshes once per minute. 1.00 GBP United Kingdom Pounds = 63.7191 THBThailand Baht 1 GBP = 63.7191 THB 1 THB = 0.0156939 GBP Bring this window to front with every refresh | Start over? How to Bookmark | How to Link | Free Rates by E-Mail | Tell a Friend New! XE.com Forex Speculation. from thaivisa currency link Currency Exchange Rates at2007-04-05 (mid-market rates) Code Currency Value USD United States Dollar 35.014 THB GBP Pound Sterling 69.099 can someone explain to a financial dummy (a.) why there is such a big difference in the quoted rates ? (b.) what rate is used by thai banks to convert pounds sterling transfers into thai baht ? i know these questions have been asked before , but i have never seen answers. Edited April 5, 2007 by taxexile Link to comment Share on other sites More sharing options...
britmaveric Posted April 5, 2007 Share Posted April 5, 2007 Onshore vs offshore rates - presently getting a much better rate in thailand. Link to comment Share on other sites More sharing options...
taxexile Posted April 5, 2007 Author Share Posted April 5, 2007 thanks bm , so that means the 69b rate for pound transfers into thailand ?? and are the banks obliged to use the onshore rates ? Link to comment Share on other sites More sharing options...
britmaveric Posted April 5, 2007 Share Posted April 5, 2007 Tax - from my undertstanding depends on how the bank does the transfer. If they convert the dosh to thai baht before sending the transfer then you get the worse rate. If they send the transfer in sterling to thai bank and thai bank converts it, you get the better rate. Link to comment Share on other sites More sharing options...
A_Traveller Posted April 5, 2007 Share Posted April 5, 2007 Tax - from my undertstanding depends on how the bank does the transfer. If they convert the dosh to thai baht before sending the transfer then you get the worse rate. If they send the transfer in sterling to thai bank and thai bank converts it, you get the better rate. Though not from personal experience, there have been reports both here and elsewhere that transfers are not always being actioned as specified above. In principal Brit's description is correct but it is wise to check and if you are concerned then request a print out of the full credit note which will provide specifics allowing you to verify transaction or raise questions. Regards Link to comment Share on other sites More sharing options...
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