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[orlandoiam]

Hi--- I'm in the process of returning to the U.S. after living here for about 4 years...so now I'm transfering my Thai Baht back to my American account. I've already done one transaction, where I got a dollar for 33.5 baht. But I'm trying to figure out if I can get a better rate. I've been reading your onshore, offshore posts...but I don't understand them.

(this is the first time i've ever taken note of fluctuations of the dollar/baht...as it's the first time it could ever noticeably effect me...)

Is there a way to transfer Thai baht to America so I get a better rate? I'm mildly confused--- Could someone explain this to me?

[Maestro]

...Is there a way to transfer Thai baht to America...

There was another topic recently on the same question and the conclusion was that it is not possible. Thai banks won’t do it, probably are not allowed to do it by order of the Bank of Thailand (Central bank) or Ministerial Regualtion.

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Maestro

[orlandoiam]

Thank you! I've been reading the "other topics" but when it comes to banking vernacular....i'm pretty much at a loss. So a direct response was nice.

[backflip]

"Offshore" and "onshore" rates might be confusing, but they have been discussed at length for many months. It's difficult to believe that you've been in Thailand for 4 years, and currency conversion and transfer is still befuddling. Regardless, the very best Thai baht rate is obtainable in Thailand. Assuming you could exchange all of your USD for THB, and then transfer the money to the US...you'd lose money converting it back to USD. I'm not sure why you'd consider doing this.

[JimGant]

Regardless, the very best Thai baht rate is obtainable in Thailand. Assuming you could exchange all of your USD for THB, and then transfer the money to the US...you'd lose money converting it back to USD. I'm not sure why you'd consider doing this.

Huh? Yes, the "very best Thai baht rate" is obtained in Thailand -- but only when you send USDs *into* Thailand and exchange at the onshore rate. But the OP wants to repatriate his money back to the US; and the most advantageous way is to send baht and have it converted to USDs on the US end at the offshore rate (he'll get one USD for less than 30 baht; converting to USDs in Thailand would cost over 33 baht for one USD).

But, as has been said, he apparently can't do this under Thai banking rules. And this is almost self-evident, because if one could do this, there would be no spread between onshore and offshore rates, as such a self-licking ice cream cone would quickly end the spread.