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Bank Holiday Exchange Rates


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I know today is a bank holiday and the rates quoted for foreign exchange by Bangkok Bank are yesterdays

I have a Foreign currency account that I can transfer to baht

If I did a transfer today would the rate be as yesterday or a rate from international markets today

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I think it's whatever the last currency exchange update (used by that particular bank) was on the previous/last business day. So if the last update was Update #3 on Friday (last business day) and you are exchanging money on Sunday on a realtime/at a counter basis, you will get the Friday's Update #3 rate.

If you were doing some money movement/exchange online, then the exchange rate is probably going to be Update #1 for the following/next business day (i.e., Monday) when the transaction would probably be posted unless the bank has a rule that certain transactions will occur within "X" amount business days...say 2 business days, 3 business days, etc. Different banks have different rules.

Edited by Pib
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The last update of a Friday will always be on the low side, as that rate is used throughout the weekend for cash exchanges at exchange boots. The banks are covering themselves for a potential loss in case the exchange rate opens lower on Monday.

I assume for transfers from a FCA to a Thai Baht account within the same bank they will do the same, i.e. use Friday's rate...

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