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Exchange Rate Moves Dramatically

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You must deal with smarter rent boys than I do.

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You must deal with smarter rent boys than I do.

 

The Thai boys are not the most savvy in the world but they do love their Gold. I have not met one yet who would refuse it. Perhaps you are not offering them enough Gold Slacker. :)

Well, I am a cheap bastard.

  • Author

Wednesday, September 24

 

Opening Rates:

 

US Dollar: 33.63

 

Euro: 49.26

 

British Pound: 62.305

 

Australian Dollar: 27.855

 

Canadian Dollar: 32.36

_____

 

Closing Rates:

 

US Dollar: 33.82

 

Euro: 49.535

 

British Pound: 62.75

 

Australian Dollar: 28.185

 

Canadian Dollar: 32.5125

Giving a thai boy gold or anything that has value is like giving them an insurance policy. They cash it in when the going gets a little tough.

As they should.

 

Anyone who let's my fat ass fuck their tight ass deserves anything they can get.

  • Author

Thursday, September 25

 

Opening Rates:

 

US Dollar: 33.88

 

Euro: 49.585

 

British Pound: 62.66

 

Australian Dollar: 28.14

 

Canadian Dollar: 32.5225

_____

 

Closing Rates:

 

US Dollar: 33.73

 

Euro: 49.53

 

British Pound: 62.605

 

Australian Dollar: 28.1675

 

Canadian Dollar: 32.5025

I'm still astounded the dollar isn't collapsing.

  • Author

Friday, September 26

 

Opening Rates:

 

US Dollar: 33.76

 

Euro: 49.39

 

British Pound: 62.105

 

Australian Dollar: 28.115

 

Canadian Dollar: 32.5375

_____

 

Closing Rates:

 

US Dollar: 33.74

 

Euro: 49.065

 

British Pound: 61.915

 

Australian Dollar: 27.80

 

Canadian Dollar: 32.4375

  • Author

Monday, September 29

 

Opening Rates:

 

US Dollar: 33.81

 

Euro: 48.89

 

British Pound: 61.69

 

Australian Dollar: 27.94

 

Canadian Dollar: 32.4625

_____

 

Closing Rates:

 

US Dollar: 33.87

 

Euro: 48.485

 

British Pound: 60.86

 

Australian Dollar: 27.465

 

Canadian Dollar: 32.40

It's the end of the world as we know it and I feel fine.

  • Author

Here we go. Now that the USA's bailout package failed to pass and the US Stock market had the biggest loss in its history, coupled with the political instability still going strong in Thailand, this is going to be another week to keep an eye on the exchange rate.

 

Tuesday, September 30

 

Opening Rates:

 

US Dollar: 33.92

 

Euro: 48.705

 

British Pound: 61.165

 

Australian Dollar: 26.9925

 

Canadian Dollar: 32.2575

_____

 

Closing Rates:

 

US Dollar: 33.67

 

Euro: 48.295

 

British Pound: 60.755

 

Australian Dollar: 27.1025

 

Canadian Dollar: 32.045

Our currency stays stable while our banking system melts down.

 

Interesting.

Our currency stays stable while our banking system melts down.

 

Interesting.

 

 

USD may be stable, but my investments have lost nearly 10% in this past week.

That sucks!

 

I just don't get why the dollar is stable!

  • Author

Wednesday, October 1

 

Opening Rates:

 

US Dollar: 33.67

 

Euro: 47.385

 

British Pound: 59.885

 

Australian Dollar: 26.6375

 

Canadian Dollar: 31.58

 

I expect to be "away from the desk" for a few days. I may not be around a computer to post the exchange rates. If you wish to follow the exchange rates yourself, click the following link:

http://www.krungsri.com/eng/exchange01.aspx

And the dollar remains strong.

Today I got money from ATM from my US bank and I got 34.04/$.

It's odd how solid the dollar has been lately.

This is a question to Gaybutton:

 

What is the difference in Thai Bath, if I exchange a $100 bill versus a $20 bill?

This is a question to Gaybutton:

 

What is the difference in Thai Bath, if I exchange a $100 bill versus a $20 bill?

 

I am not GB...but at this moment the following are the rates

50 & 100 $ Bills 33.80

5, 10, & 20 $ Bills 33.38

$1 bill 33.02

 

I guess they pay differently for the size of the bill due to cost of dealing with smaller bills.

 

I try to always bring $100 dollar bills, and take the change in my pocket for taking home money.

 

  • Author
This is a question to Gaybutton:

 

What is the difference in Thai Bath, if I exchange a $100 bill versus a $20 bill?

GaySacGuy is correct. The higher the denomination of the bill, the better exchange rate you get. Granted, it's almost nothing more than a few baht unless you're exchanging very large amounts of money, but that's the way it works.

 

You might also want to bear in mind that you get a somewhat better exchange rate for travel checks than you get for actual cash. I don't understand enough about banking to know why, but that too is the way it works.

 

What is best to do depends on your own preferences. Obviously, it is much more convenient to withdraw money with use of your own ATM card, but you do have banking fees. The fees don't amount to much, but some people prefer not to have to pay those fees.

 

If it were me, I would choose to use my own ATM card, which will work at any ATM in Thailand, rather than have to deal with travel checks because of the sheer convenience of it. ATMs are virtually everywhere and are available for cash withdrawal all the time. Travel checks, on the other hand, mean that you have to either go to an exchange booth or a bank. That requires you to carry your passport, which many do not wish to do, do your exchanging during their office hours, often wait in a long line, and depending on where you are just finding and getting to a bank or exchange house is sometimes not so easy. That idea especially sinks in if you happen to be standing right next to an ATM at the moment you realize you need to cash a travel check, and also realize you are nowhere near a place to exchange the travel check.

 

Some hotels will exchange travel checks or foreign cash, but they invariably give you a much lower exchange rate and most of the time they will do the exchange only if you are staying there. Even then, hotels usually have a limitation on how much they will exchange.

 

I usually recommend to those coming to Thailand for a holiday to bring their ATM card and use it. I also recommend bringing an extra ATM card if you can, in case your ATM card is lost or stolen. That way, you have a backup if it becomes necessary. I also recommend, in any case, bringing along some travel checks for emergency backup.

 

Even if you have no intention of using your ATM card at all, I suggest bringing it anyway, in case of emergency, so that you do have access to cash.

Be aware that some Thai banks are now charging a fee for ATM transactions other than for their bank cards. SCB has started charging 20 baht. It is a small amount, but other banks don't charge at all. I use Ayudiya (sp) or TMB.

You might also want to bear in mind that you get a somewhat better exchange rate for travel checks than you get for actual cash.

 

But also bear in mind that travel checks usually have quite a high front-end charge - presumably because they are more secure than cash and there's a lot of administration involved. Also, at the banks' money changers in Bangkok there is a small charge to cash each check. Plus there are some establishments outside the main cities who will not honour travel checks. My experience used to be that travel cheques normally work out more expensive than ATMs - 'used to be' because I gave up on them years ago. Best to check with your bank before purchase.

  • Author
Be aware that some Thai banks are now charging a fee for ATM transactions other than for their bank cards.

 

Some are now charging fees even with their bank cards. For example, sometimes I'll pay a bill at an ATM machine by doing a transfer from my account to the recipient's account, as long as it was all within the same bank. Until recently there was never a charge for that. Now, the banks I use are charging a 25 baht fee for that kind of transaction even when it's going from my account to another account within the same bank. That's the same amount they charge even when you are transferring funds from one bank to another.

 

Also, Bangkok Bank, and I imagine others are doing the same thing, is now charging a 30 baht fee when making a cash deposit into an account at a teller window in the bank. That's new too. I don't recall ever having to pay a fee to make a deposit until recently.

 

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