Currency Exchange Question

[dddave]

I always get this confused.  If I go to a local exchange kiosk and give them Dollars for Thai Baht, am I "Buying" or "Selling"?

Then, would the converse be if I give Thai Baht, wanting Dollars in exchange?

[KannikaP]

You are selling USD to buy THB.

[ChrisP24]

The buy-sell prices listed at the kiosk are what THEY are buying or selling for.

 

The simplest wat to look at it is that they have to make a profit on the exchange, so of course there is a "spread" between their buy and sell rates.   When they are buying they give you the lower rate (fewer of THEIR baht for YOUR dollars).  When they are selling they give you the higher rate (charging YOU more of YOUR baht for THEIR dollars).

 

For example, the rates right now at now at Super Rich:

 

CURRENCY	BUYING	SELLING
USD	34.75	34.85

[persimmon]

A related question - Does Super Rich do £ ---> $ or do I have to go £ ---> Baht ---> $ .

 

Thanks   -  ( I need $ 40 for a trip across the bridge at Nonghai ) .

[Mac Mickmanus]

2 minutes ago, persimmon said:

A related question - Does Super Rich do £ ---> $ or do I have to go £ ---> Baht ---> $ .

 

Thanks   -  ( I need $ 40 for a trip across the bridge at Nonghai ) .

Have you tried going into Super rich and asking them ?

[Lemsta69]

6 minutes ago, persimmon said:

A related question - Does Super Rich do £ ---> $ or do I have to go £ ---> Baht ---> $ .

 

Thanks   -  ( I need $ 40 for a trip across the bridge at Nonghai ) .

The spreads are so small here it's not going to make very much difference for a mere forty dollah.

[persimmon]

4 hours ago, Mac Mickmanus said:

Have you tried going into Super rich and asking them ?

It`s a day`s trip on the bus there and back , so I thought it would be easier to ask here .

[TheAppletons]

17 hours ago, persimmon said:

A related question - Does Super Rich do £ ---> $ or do I have to go £ ---> Baht ---> $ .

 

Thanks   -  ( I need $ 40 for a trip across the bridge at Nonghai ) .

At Superrich, you'll convert GBP to THB then THB to USD.  Two transactions.