Dollar Breaches 32 B

[Trvlr 50]

U are right to do that,reality is far better than reading mis quotes on here

 

Mr Bratpack, since you are accusing central bankers and newspapers all over the world, as well as the good folks on here, of misquoting rates, let's try a little education.

What would you say if someone asked you: what is the dollar-baht rate in Pattaya? That's a small place, and a small question, but you really could not come up with an instant answer could you? Every bank has a different rate, as does every moneychanger. Say there are 30 of them in central Pattaya. That's a possible 30 different rates. Now factor in the spread - the buy and sell rates, and you may have 60 different rates. So, to answer the question, you would have to have a formula for "averaging" the rates. And the number you come up with may not be offered by anyone in Pattaya, because it is a calculated average.

Now think what happens on a global scale. Trading occurs 24 hours a day worldwide, except for a 24-hour break on weekends. A website has to somehow gather all this information and give out one number that is the "exchange rate". Now you see why this number may not be exactly what is available anywhere? But if you follow the same website, you get a pretty good idea what the trend is. And if, like me, you figure out the usual difference between the website's quote and what a particular bank or moneychanger offers at your destination, you will have a pretty accurate idea what your pound or dollar is going to bring.

This is how the website I use explains it:

 

The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling.

"Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around.

[jacko 8,822]

The rates you can get in Thailand are here.

 

They seem to be bank dependent rather than Pattaya dependent.

 

If there are places in the UK that offer very similar or better rates, as Fatboyfat mentions, that is extremely interesting. Historically we have always known, better to buy your baht in Thailand! Similarly USA... tell us more, useful information.

 

I think a guy can perhaps read here, or look on the internet, at bank rates to decide whether the 10 baht change he will have left matters when he has changed his £20 and had a beer and a blow-job. He certainly doesn't want to be wandering around 30 exchange places in Pattaya. What the rate is on a yahoo page doesn't mean shit... just a guideline of the direction it is heading.

 

What a load of waffle...... here's to 51/£ and 33/$US.

[bratpack 91]

Have u been a boring fart all your life or is this something new.I made a simple post to MM, About the facts of cashing money,a war and peace on the post is so fucking boring.The reality is to get off your fat arse,walk to some atm,s and get the best deal with your cash,pretty fucking simple realy.

Mr Bratpack, since you are accusing central bankers and newspapers all over the world, as well as the good folks on here, of misquoting rates, let's try a little education.

What would you say if someone asked you: what is the dollar-baht rate in Pattaya? That's a small place, and a small question, but you really could not come up with an instant answer could you? Every bank has a different rate, as does every moneychanger. Say there are 30 of them in central Pattaya. That's a possible 30 different rates. Now factor in the spread - the buy and sell rates, and you may have 60 different rates. So, to answer the question, you would have to have a formula for "averaging" the rates. And the number you come up with may not be offered by anyone in Pattaya, because it is a calculated average.

Now think what happens on a global scale. Trading occurs 24 hours a day worldwide, except for a 24-hour break on weekends. A website has to somehow gather all this information and give out one number that is the "exchange rate". Now you see why this number may not be exactly what is available anywhere? But if you follow the same website, you get a pretty good idea what the trend is. And if, like me, you figure out the usual difference between the website's quote and what a particular bank or moneychanger offers at your destination, you will have a pretty accurate idea what your pound or dollar is going to bring.

This is how the website I use explains it:

 

The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling.

"Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around..the reality is to get off your fat ars

Edited August 27, 2013 by bratpack

[Trvlr 50]

Have u been a boring fart all your life or is this something new.I made a simple post to MM, About the facts of cashing money,a war and peace on the post is so fucking boring.The reality is to get off your fat arse,walk to some atm,s and get the best deal with your cash,pretty fucking simple realy.

 

I guess knowledge can be pretty boring for some. I tried to help you by explaining why the numbers on a website and on the ground do not match, but you prefer to remain ignorant. That's your choice and it says something about you.

It is the easiest thing in the world to start calling someone names, but I will refrain from it - for the moment.

Edited August 27, 2013 by Trvlr

[Wings 55]

Mr Bratpack, since you are accusing central bankers and newspapers all over the world, as well as the good folks on here, of misquoting rates, let's try a little education.

What would you say if someone asked you: what is the dollar-baht rate in Pattaya? That's a small place, and a small question, but you really could not come up with an instant answer could you? Every bank has a different rate, as does every moneychanger. Say there are 30 of them in central Pattaya. That's a possible 30 different rates. Now factor in the spread - the buy and sell rates, and you may have 60 different rates. So, to answer the question, you would have to have a formula for "averaging" the rates. And the number you come up with may not be offered by anyone in Pattaya, because it is a calculated average.

Now think what happens on a global scale. Trading occurs 24 hours a day worldwide, except for a 24-hour break on weekends. A website has to somehow gather all this information and give out one number that is the "exchange rate". Now you see why this number may not be exactly what is available anywhere? But if you follow the same website, you get a pretty good idea what the trend is. And if, like me, you figure out the usual difference between the website's quote and what a particular bank or moneychanger offers at your destination, you will have a pretty accurate idea what your pound or dollar is going to bring.

This is how the website I use explains it:

 

The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling.

"Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around.

 

Good infomation and thanks