Best Exchange Rates?

[Ivantheterrible]

I've been using Super Rich to exchange US Dollars to baht here in Bangkok. I've heard they have the best rates, and it seems that is true from my, albeit limited, experience.

I'll be leaving Bangkok and Thailand soon, and going to the Philippines. I am wondering if Super Rich is still a good option for exchanging my baht into Philippine Pesos and my USD into PHP as well?

Seems to me I've heard there really aren't any places in the Philippines that have rates as good as Super Rich does in Thailand, that's why I'm wondering if I would do best to exchange all my baht and US Dollars into PHP now, before I even arrive in the Philippines, before I leave Thailand.

I know alot of you guys that live/work and travel/visit here in Thailand also go to/have been to the Philippines, so I'm sure some of you have experience in this area.

Does changing my baht and dollars into PHP at Super Rich before leaving Bangkok seem like a reasonably good idea? Or are there some exchange places in the Philippines that you guys know of that would give me better rates on exchange to pesos, then I will from Super Rich?

[Ivantheterrible]

Wrong forum??

[KHR1010]

In my experience It is always better to do the exchange in the country that uses the currency you want. You do not say where you are going in the Philippines, so I will asume Metro Manila will be a stop for you. The best exchange rates I have found over the years are available at

• Czarina Foreign Exchange
  
• Sanry’s Money Exchange
  
• SM Mall Foreign Exchange Counters
  

The rates do vary a bit between these exchange providers and if you are concerned about it you can look at their websites the day you go. In the order I listed them, is generally the best rates starting at the top. All of the exchange centers have multiple locations throughout Metro-Manila/Makati and at the airport. ​

Personally, unless I am going to be exchanging a large amount of cash it is not worth the hassle to go out of my way traveling to an exchange center. Just go to an ATM an pull your money out in local currency. If I lose a few bucks but I am able to gain time it is worth it to me.

[fletchsmile]

I rarely use money changers these days, as having spent a fair amount of time in Aisa I tend to just keep accounts in the main place I'll go back to, and for others just use a Visa card, or stick my ATM card in the wall if need cash. If I was leaving for another country I'd try and set up an account in that country and do a TT transfer from Thailand or via internet banking (may still need paperwork - so check before you go).

I'd agree with KHR that it's usually best to change your cash is usually in the country that uses the currency you want. Be careful of changing money from non-major currencies into THB at banks here. I recall a few years back my brother visiting here. He then went to Indonesia, before returning to Thailand. The rate he got here for changing IDR into THB was abysmal. He got something like half what he should. I went back to the money changer with him, and fair dues they just reversed the exchange. They said there was not much demand for IDR here, hence the (very) low rate, as they didn't want to be bothered with it.

So if you want the cash route, change your THB into USD where you're happy and used to. If you think you're getting a decent rate for THB to USD to PHP, check the BOT website first for reasonableness:

http://www.bot.or.th/English/Statistics/FinancialMarkets/ExchangeRate/_layouts/application/exchangerate/exchangerate.aspx

[Ivantheterrible]

Seems clear I should wait to exchange my USD for PHP until I am in the Philippines, and not do it well in Thailand.

It also seems that it would be better to exchange my THB while I am still in Thailand.

I suppose then the only remaining question is...

Exchange THB to PHP, or exchange THB to USD and then after arrival in the Philippines exchange the USD to PHP?

[Naam]

exchange THB to USD and then after..

[Ivantheterrible]

really??

Wow, I mean I'll believe u guys if u tell me so, but it seems like u would lose more money the more times u have to exchange from one currency to another, and the flip side of that would be u lose less the fewer times u exchange one currency to another.

Therefor it would seem THB - PHP would lose less money then THB - USD, USD - PHP.

Or is the THB - PHP exchange rate in Bangkok really that bad??

[Naam]

Therefore it would seem...

...that you possess a wealth of "no idea" as far as currency exchange rates are concerned.