Currency Exchange Idea?

[mxyz250newb]

I live in Canada, and want to exchange some currency while the canadian dollar equals almost 33 baht. 

Whats the best way to do this? I have a friend in thailand that i trust to hold the money for me until I arrive but... the last time I waited to change currency until I arrived it backfired and I was only getting about 27 baht per dollar so I want to avoid that headache this time.

Any of you used XE.com for currency ?

[Harcourt]

Go to your local bank or bureau du change!

[sassienie]

I live in Canada, and want to exchange some currency while the canadian dollar equals almost 33 baht. 

Whats the best way to do this? I have a friend in thailand that i trust to hold the money for me until I arrive but... the last time I waited to change currency until I arrived it backfired and I was only getting about 27 baht per dollar so I want to avoid that headache this time.

Any of you used XE.com for currency ?

There isn`t any 100% sure way of doing this.

The banks have it well sown up and all is in they`re favour. One way or another, we always lose to the banks.

And as for leaving money with a friend, (not a wise move) what would happen if the friend gets knocked down by a truck or if the money gets stolen, or destroyed in a fire?

[mrtoad]

I live in Canada, and want to exchange some currency while the canadian dollar equals almost 33 baht. 

Whats the best way to do this? I have a friend in thailand that i trust to hold the money for me until I arrive but... the last time I waited to change currency until I arrived it backfired and I was only getting about 27 baht per dollar so I want to avoid that headache this time.

Any of you used XE.com for currency ?

Please send it to me by Western Union, I will get you a good exchange rate.

Dr Moses Mobongo, Nigerian Public Relations Office.

e-mail 419atyahoo.com

[sassienie]

I live in Canada, and want to exchange some currency while the canadian dollar equals almost 33 baht. 

Whats the best way to do this? I have a friend in thailand that i trust to hold the money for me until I arrive but... the last time I waited to change currency until I arrived it backfired and I was only getting about 27 baht per dollar so I want to avoid that headache this time.

Any of you used XE.com for currency ?

Please send it to me by Western Union, I will get you a good exchange rate.

Dr Moses Mobongo, Nigerian Public Relations Office.

e-mail 419atyahoo.com

[stickyrice]

It is very difficult to do what you want to do. Mostly because the on-shore exchange rate is usually quite a bit better than the off-shore exchange rate. (even the rate inside the airport is worse than the rate just outside the airport).

Furthermore, even if your friend is reliable, sending money is pretty expensive. For example if you want to send 200 Canadian dollars, is will cost you 24 Canadian dollars to send it. (also it will be sent as Thai Baht but at a much lower rate than the on-shore rate)

If some one has a good way get baht overseas at a good rate (and has actually done it successfully) that would be good news to me.

[CobraSnakeNecktie]

Simple. do what every company from Coca Cola to Toyota does. Hedge in the currency market. Open up a FX account and lock in your rate for the future. Minumum accounts at a lot of brokers are just $100 USD. Adjust the leverage or position size so your basically at a one to one for your desired position and lock it in.

The looney could do well if commodities keep climbing however. If the CDN $ up relative to the Baht then of course you will lose on your hedge but your CDN $ will be worth more in Thailand and offset.

It's not hard at all to hedge and lock in your rate from today forward.