Current Exchange USA - BAHT

[Wada 0]

With my luck the fed will meet and lower rates on the 18th and it will go lower

 

From what I understand the best deal is with american Express Travelers checks, better than exchanging usa money

 

Any information appreciated

 

Arrive 9/27

 

Wada

[zaphodbeeblebrox 0]

With my luck the fed will meet and lower rates on the 18th and it will go lower. From what I understand the best deal is with american Express Travelers checks, better than exchanging usa money. Any information appreciated. Arrive 9/27. Wada

 

Yes, the dollar will drop after the fed reserve meeting next Tuesday. I'm betting on it (bought a bunch of the gold exchange traded fund a week ago (GLD)). However, the internal exchange rate in Thailand for the USD has been fairly stable at approximately 34THB : 1USD.

 

The best way to go is an ATM card. Why hassle dealing with the exchange booths? I use E*Trade (which was a bank before being a brokerage). I can withdraw money at any ATM, no ATM fee. My daily withdrawal limit is 34,000 baht, which, even with extremely heavy and generous partying, will last you 3-4 days.

 

You have enough time to set up an E*Trade account before you leave, online, and get your deposit (I think $500 is the minimum) into them. Have them rush the ATM card.

 

In answer to your question, I believe the exchange booths do prefer AmEx traveller's checks to $100 bills. The difference in the exchange rate will be negligible, it just means they won't scrutinize the bills so carefully for counterfeits. I still have a considerable amount of USD on hand, and just haven't had a need to get it exchanged over. Maybe if the dollar exchange rate ever spikes in favor of the USD (wishful thinking) I will head over to the exchange booths again.

 

If you do get AmEx traveler's checks, get the highest denomination possible (at least $500). You will get the best exchange rate possible with high denomination traveler's checks. I think the current rate at my bank (SCB) is 34.01 Thai Baht/USD for $100 bills and 34.11 Thai Baht/Dollar for $500 AmEx traveler's checks.

Edited September 11, 2007 by zaphodbeeblebrox

[cowboy 0]

DO NOT I repeat DO NOT change your money at the airport.

 

every exchange in the new airport that I have seen gives the same rate for small bills, hundreds, and travelor's checks. If you are cashing 100's or travelors checks you will gert a better rate by waiting until you get out of the airport. If you have to have cash before you leave the airport then use the ATMs

[tobutterflyornottobutterfly 0]

When I first went to Thailand 2 years ago, I got almost 40 baht for 1 dollar. Now it is 34 to 1. It seems with the huge debt the US is carrying, the billions of dollars every day we are waisting rebuilding a screwed up country who doesn't want our help, the subprime disaster, the upcoming recession next year (I think), and the strenghtening of the emerging markets, the dollar will continue to fall.

[joekicker 53]

When I first went to Thailand 2 years ago, I got almost 40 baht for 1 dollar. Now it is 34 to 1. It seems with the huge debt the US is carrying, the billions of dollars every day we are waisting rebuilding a screwed up country who doesn't want our help, the subprime disaster, the upcoming recession next year (I think), and the strenghtening of the emerging markets, the dollar will continue to fall.

 

Your first two statements and your last statement are not logically connected. I don't think you've quite got the plot.

 

In 1980, I got 20 baht for one dollar. By your logic, 34 to 1 is a huge improvement in the dollar's favour and of course the Thai baht has gone totally into a handbasket.

[nidnoyham 30]

Out of curiosity, do all the countries that are members of the U.S based World Bank, have their currency linked to the $US ?

 

If not, what is the World Bank's purpose ?

[MrMango 667]

Out of curiosity, do all the countries that are members of the U.S based World Bank, have their currency linked to the $US ?

The World Bank has nothing to do with this. Several hundred years ago, the Dutch Guilder was the Benchmark currency that all Countries referenced their monies to. Then it was the U.K. Pound, and now it is the U.S.$. Like it or not, that is the system.

 

If not, what is the World Bank's purpose ?

Good question - IMHO, political, nothing more.

[Eneukman 1]

Out of curiosity, do all the countries that are members of the U.S based World Bank, have their currency linked to the $US ?

 

If not, what is the World Bank's purpose ?

 

Most currencies are free to "float" and find their own value on the market. Governments will sometimes intervene to prop up the value of a currency or to try and stop it getting too strong and thus huritng exporters.

 

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

 

The TT baht dollar rate is (at 2.00 pm Thai time) ia 34.15 and 69.3575 for sterling. This suggests a dollar - sterling rate of 2.03. If rates get out of synch - say the dollar fell to 2.05 to the £, but other rates remained unchanged, dealers wouold be quick to spot the difference and benefit from it enormously.

 

As for the World Bank, you can read as much or as little) about it as you want here -

 

http://en.wikipedia.org/wiki/World_Bank

 

Alan

[nidnoyham 30]

Thanks MrMango,

 

Thanks Alan.

 

If this forum sets up an Investors Club. I propose you to be Chairman.

 

Ya canie beat a Cannie Scot, when it comes ta munay.

[joekicker 53]

If not, what is the World Bank's purpose ? clueless

 

It's the same as the purpose of any bank. It gives loans.

[nidnoyham 30]

It's the same as the purpose of any bank. It gives loans.

 

Another fine mess that got us into Stanley !

[chuckrivera 1]

Last time I was in Pattaya, some of the exchange booths didn't take travelers checks at all, so I agree with the ATM card. I've was smart enought to keep enough baht from my last trip to last a couple of days so I wouldn't have to worry about the exchange booths at the airport. Older and wiser.

 

 

cr

[rockinjerry 2]

Guess the US dollar will take another hit in Thailand now, as it has now dropped again. The Canada dollar is equal to the UD dollar.

 

Oh, Well. We had it pretty good for a long time. Hate to see what the dollar exchange is when I get over in another week or so?

 

But? Still will be a great time!