Skip to content
View in the app

A better way to browse. Learn more.

Thailand News and Discussion Forum | ASEANNOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

No More Difference Between Onshore And Offshore Rate

Featured Replies

...the government started proping up the onshore rate late last year maybe. Early this year?

The government tried very hard to weaken the Baht. The difference between onshore and offshore rates is due to market forces (fuelled partly by Thailand’s balance of payments surplus), not something the government forced.

--

Maestro

Oh, that's what you were asking about? You're right I should have said "actions of the government led to" instead of the "government forced the".

Must be my bias against large government sneaking into my typing.

  • Replies 34
  • Views 5.3k
  • Created
  • Last Reply

Top Posters In This Topic

Today:

Offshore rate for AUD TO THB: http://finance.yahoo.com/q?s=AUDTHB=X = 26.455

Onshore rate equivalent = http://www.bangkokbank.com/Bangkok+Bank+Th...es/FX+Rates.htm = 26.31

When did you last buy Baht from finance.yahoo.com?

Other people, if they Baht outside Thailand, buy it from their bank, which means that the rate quoted by Yahoo has no meaning at all for them. Only the bank’s selling rate for the Baht counts.

--

Maestro

all said! :o

  • Author
Today:

Offshore rate for AUD TO THB: http://finance.yahoo.com/q?s=AUDTHB=X = 26.455

Onshore rate equivalent = http://www.bangkokbank.com/Bangkok+Bank+Th...es/FX+Rates.htm = 26.31

When did you last buy Baht from finance.yahoo.com?

Other people, if they Baht outside Thailand, buy it from their bank, which means that the rate quoted by Yahoo has no meaning at all for them. Only the bank's selling rate for the Baht counts.

--

Maestro

Yahoo gives the interbank rate, upon which my local banks' rate is based.

However to get offshore rate, i wouldnt buy from bank locally buy from a forex company(I used afex - www.afex.com). Afex give me a rate very similar to the interbank rate given on yahoo - they take a very small margin compared to local banks.

"TMB Bank executive vice president Satian Tantanasarit said the difference between the onshore and offshore quotes narrowed due mainly to central-bank relaxation of non-resident controls.

The central bank has begun allowing non-residents with underlying deals made before last December 19 to hedge baht-denominated transactions with local financial institutions without being subject to the 30-per-cent reserve requirement."

http://www.tmcnet.com/usubmit/2007/08/15/2864853.htm

I hope it helps answer the question of the original poster.

Nils

http://www.bangkokbank.com/Bangkok+Bank/Pe...tes/default.htm

This is about what you will get here in Thailand...TT.... for a Swift transfer . The bank here charges about 200baht and then you will have to add on the charges of the sending bank/institution. You get the rate on the day that the money gets here. Send less than equivalent of US$20000 or there may be a hold up getting your money..many threads on this.

Ensure that you send in your home currency and not Baht........else you will cry.

Create an account or sign in to comment

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.