Baht Currency Conversion

[vagabond48]

I have used the TV baht conversion link in the past but it appears to have stopped as of 8/15.

I also use xe.com but it displays the international rate.

Anyone know if there is a link that converts the baht to the inside Thailand rate.

Thanks

[GungaDin]

http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

Any good?

[vagabond48]

http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

Any good?

I should have mentioned that I'm looking for ATM currency rates not bill currency rates which this site provides

[vagabond48]

no helpful links to my inquiry?

then to the mods,

what's with the tv baht link?

[hyperdimension]

no helpful links to my inquiry?

then to the mods,

what's with the tv baht link?

Did you see my reply to your other thread (Foreign Exchange Rate When Using An Atm Card) about http://bankexchangerates.daytodaydata.net?

I use it all the time now, because it gives me the actual intra-day rates from the Thai banks and not the interbank rates that we wouldn't actually be able to get.

I've suggested to them that they show the exchange rates of Super Rich (in Rajdamri) (even though they're not actually a bank!) and I received a reply saying they'll be available on the site soon.

Edited September 12, 2008 by hyperdimension

[vagabond48]

Did you see my reply to your other thread (Foreign Exchange Rate When Using An Atm Card) about http://bankexchangerates.daytodaydata.net?

I use it all the time now, because it gives me the actual intra-day rates from the Thai banks and not the interbank rates that we wouldn't actually be able to get.

I've suggested to them that they show the exchange rates of Super Rich (in Rajdamri) (even though they're not actually a bank!) and I received a reply saying they'll be available on the site soon.

Thanks. I did notice that it started working again but after a very long absence.

I'm not sure how accurate it is. I used the my ATM machine yesterday (9/15) and I got 34.679 to the US $1 and that is minus approx 1% foreign exchange fee VISA takes out. The TV rate was listed for that day at 34.5316.

[hyperdimension]

Thanks. I did notice that it started working again but after a very long absence.

I'm not sure how accurate it is. I used the my ATM machine yesterday (9/15) and I got 34.679 to the US $1 and that is minus approx 1% foreign exchange fee VISA takes out. The TV rate was listed for that day at 34.5316.

Stick with http://bankexchangerates.daytodaydata.net, they seem more proactive regarding exchange rates in Thailand. It didn't take them long to add the Super Rich rates (for physical notes) after I had requested it, so we can now see how much better their rates are compared to the bank rates.

I suggested showing rates of Australian banks too, but I'm not sure what the chances are.

Edited September 16, 2008 by hyperdimension

[karlski]

So this is THO right, Thai Offshore Baht? I was calculating at 29 to 1 USD after a few weeks of thinking the 34 was out of date.

So is the 34 the more accurate number?

In calculating hypothetical of 10,000 baht, i'm paying USD 294.00 at 34THB/to/1USD vs. paying $344USD at 29THB/to/1USD correct?

[hyperdimension]

So this is THO right, Thai Offshore Baht?

If you look at that web site, if you are looking at USD to THB rates, and it says "Thailand" in the Country column, then the rates would be onshore rates, i.e. rates that you would actually get if you do the exchange in Thailand, as opposed to interbank rates that you'd find on oanda.com, which are not as relevant to most of us.

Edited October 11, 2008 by hyperdimension

[Lancelot]

Try this one from Visa International

http://www.corporate.visa.com/pd/consumer_...HB&rate=0.0

[vagabond48]

I just got back from Laos and thought, I would add the following.

I accessed 3 different exchange currency sites within a minute and got this.

XE.com 1US = 34.7685 baht

bankexchangerates.com 1US = 34.258 baht (average) The information listed was over a day old. I changed currency type to TT for ATM rates.

ThaiVisa 1US = 34.395 baht

I thought XE.com showed the offshore rate. Would that mean the inside rate was higher than 34.77? If so, it blows the other 2 sites rates.

[vagabond48]

Try this one from Visa International

http://www.corporate.visa.com/pd/consumer_...HB&rate=0.0

I have used this site in the past thinking it was the most accurate since I use VISA ATM cards but even thought their site says "The rate shown is effective for transactions submitted to Visa on October 11, 2008.", I don't believe they update the site regularly. Sometimes the rate shown remained the same for several business days even though rates at other sites changed. I withdrew money during a several day period and one day the rate was accurate while other days it was not while the site rate hadn't changed. The rate listed also appears to be an approximate rate. I called them to complain but got the run around since they really don't support ATM cards issued by banks.

Currently the site is showing 34.40 which is close to the ThaiVisa but well off from xe.com

edit: added text

Edited October 11, 2008 by vagabond48

[JAS21]

http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

Any good?

I should have mentioned that I'm looking for ATM currency rates not bill currency rates which this site provides

Well I use an ATM with a UK debit card and find that I get just about what the TT rate shows...if thats any use to you.

[hyperdimension]

XE.com 1US = 34.7685 baht

bankexchangerates.com 1US = 34.258 baht (average) The information listed was over a day old. I changed currency type to TT for ATM rates.

ThaiVisa 1US = 34.395 baht

I thought XE.com showed the offshore rate. Would that mean the inside rate was higher than 34.77? If so, it blows the other 2 sites rates.

You need to understand where the numbers are actually coming from. Sites like oanda.com and xe.com show global interbank rates, the rates that professional currency traders use. Such rates are "offshore" but are inaccessible for most of us who are not professional currency traders. Whereas an "offshore" rate that would be relevant to you would be the rate that you'd find at the bank in your home country or any country other than Thailand.

Professional currency trading is a very different world to what we are talking about and is not really relevant to us, but if you want to learn more about it you can visit Oanda FXTrade or FXCM.

Here's information from xe.com about the rates that they show:

The mid-market rates shown in our information services are neither "buy" rates nor "sell" rates. Mid-market rates are derived from mid-point between the buy and sell rates of large-value transactions in the global currency markets.

Since "buy rates" and "sell rates" include overheads and profit margins that are set independently by each foreign exchange provider, they will vary depending on who you're talking to, and will always be different than the mid-market rate.

The rates that you see on http://bankexchangerates.daytodaydata.net (phew... such a long URL... bookmark it so you don't need to type it all the time) are actual rates from Thai banks, so they are onshore rates. They are a day old (except for Super Rich - they update their rates on Saturdays) because the banks are closed on weekends and public holidays, so their rates remain fixed until the morning of the next business day.

I don't know where the numbers come from on the thaivisa rate page so I don't trust it and would never use or rely on it.

The global currency markets are closed on weekends and actual currency trading cannot take place during that time, even though you can exchange your money on weekends at booths and ATMs.

Edited October 11, 2008 by hyperdimension

[hyperdimension]

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Edited October 11, 2008 by hyperdimension