Where to buy Bahts in the USA

[bucknaway]

I am all sad about the Coup and all but... The Baht is now at 37.5 per US dollar and still falling. Can anyone suggest where I could buy Thai Bahts before my arrival?

[Dodger]

Bucknaway...

Maybe I'm figuring this wrong (I'm not a financial genius), but if the Thai Baht weakens we should be able to purchase more Baht for the U.S. dollar once we arrive in LOS.

Do I have this backwards???

It doesn't matter where you buy it. A weak baht means more baht to the dollar.

[Dodger]

Boygeenyus...Thanks!

[bucknaway]

I get there October 13 and with my luck, when I get there the baht will be back at 41 to the dollar. So if I can buy some cheap bahts here in the USA before I arrive in Thailand... Well that would be a GREAT thing for me.

Now the Baht is at 37.25 per Dollar... I just know it is gonna hit 35.. I know it! I know it! I know it! :bounce:

[bucknaway]

Hold on one second here... That should be moving the other way! It should take more baths to equal the Dollar! The way my converter is going it is saying the baht is gaining in power over the Dollar... What the hell????........

[manfarang-old]

I get there October 13 and with my luck, when I get there the baht will be back at 41 to the dollar. So if I can buy some cheap bahts here in the USA before I arrive in Thailand... Well that would be a GREAT thing for me.
Now the Baht is at 37.25 per Dollar... I just know it is gonna hit 35.. I know it! I know it! I know it! :bounce:
I'm not following at all. It IS lucky if it's 41 to the dollar. I don't think it will happen, though. The immediate outlook on the US economy is not good and that affects the dollar. Even with the coup the value of the baht has only dropped 1% (according the BBC World News a few minutes ago).

In any case, there is no way to buy "cheap" baht in the US. In the US you will get poor exchange rates and probably have to pay a commission as well. It has always been my experience that one gets the best exchange rates in Thailand.

[rincondog]

I hope math is not your strongest asset.

[Dodger]

Bucknaway...

Yes, I think you had that backwards for a minute.

I'd be happy with an exchange of $U.S. 1 - 40 BT when I arrive next week.

I'm not hoping for bad news for LOS, just looking at how the economics may effect my holiday.

[Bob]

You will get absolutely screwed (by 10-15%) if you try to buy baht in the US. Wait until you get to Thailand (buy the minimum you need at the airport and then get whatever else you need at the 14 million exchange joints on every corner).

And remember to take clean [uncut (whoops, didn't mean to get you horny) and unmarked] dollars or the exchangers won't take them.

[bucknaway]

Hey... It took me a while but... LOL

AND no.. I am not a math wiz as you can tell... LOL


Ok guys.. I will wait... Besides.. The rate is not where I want it to be anyway

[Dodger]

Bob...

I usually get better exchange rates dealing directly with a Thai bank versus those street corner exchanges. The bank excahange at the BKK airport always offers the best rates as well.

I agree about not buying Baht in the U.S....or any other country for that fact.

[Aunty]

I don't think you'll have any problems getting cheap Baht in Thailand Bucky, all you have to do is flash that fabulous manhood of yours around and I'm sure you'll get all the Baht you want!

If you really did want to buy Baht in the USA you could try two things. If you're in or near a big city, go to a Thomas Cook office and place an order for Baht, or do the same at your bank, but just make sure they understand it's Thai Baht you want, otherwise you might end up with currency from India or something.

As for a major collapse in the currency I don't think that will happen. Thailand is economically quite strong at the moment and I don't see this coup changing the economic fundamentals very much. So yes there will probably be some short term weakness in the currency but I don't see a huge collapse.

It would all change of course if the coup turned bloody.

Bob...

I usually get better exchange rates dealing directly with a Thai bank versus those street corner exchanges. The bank excahange at the BKK airport always offers the best rates as well.

I agree about not buying Baht in the U.S....or any other country for that fact.

exactly right. You will get up to 10% less for your money!

the official rate is 70.44 baht to 1GBP

here the banks etc offer 62.5 and charge a fee/commisiion!

[allieb]

Bob...

I usually get better exchange rates dealing directly with a Thai bank versus those street corner exchanges. The bank exchange at the BKK airport always offers the best rates as well.

I agree about not buying Baht in the U.S....or any other country for that fact.

exactly right. You will get up to 10% less for your money!

the official rate is 70.44 baht to 1GBP

here the banks etc offer 62.5 and charge a fee/commission!

On a trip to Thailand Just over a year ago, the banks in Heathrow airport were offering 65 baht to the pound and charging commission, which in reality took the exchange rate down to about 63. In Bangkok airport 15 hours later I got 74 baht to the pound no commission charged.

.... yes this has been pointed out various times, even by myself, better to change your money in Thailand, such a better rate. Not sure if the US is the same though.

Although also food for thought, at one time even credit cards were reasonable (rate of exchange), but I recently came back from holiday and the Malaysian Ringitt and singaporean dollar were rip off rates on my credit card for even purchases.

The rate was 7 to the pound (ringitt) and I think the credit card company were giving about 6.7. What they do these days is include all their charges in the rate they give you, so that you "cannot see it" in the final figure. Its a rip off.

We gone through this before, and we all have our OWN way of making sure we get the best out of currency exchange rates.

[Bob]

The US banks that exchange US currency for thai baht will give you about 90% of the rate you get in Thailand.....so don't do it.

Even if you wire money from the US to Thailand, make sure you wire it in US Dollars and not in Thai baht (there's a box to mark about that on most wire forms). If you transfer in Thai baht, then you'll get the very lousy rate they give here in the US.

[bing]

Not to worry, even if your arrival is at midnight, you can still change dollars to bahts in the airport. They stay open very late for the incoming farang.

It's very simple. The more middlemen there are in the transaction the more it will cost you. If you buy in Thailand you have one middleman - if you buy outside of Thailand you have 2 middlemen.

The last time I went to Thailand (May 2006), the foreign currency exchange at LAX (Los Angeles Intl') was 27 baht per dollar...talk about thiefs!

I always exchange Travel Checks at Thailand banks.

Going back in about 10 days and I hope that I will see 35 Baht for a dollar...don't think the boys will accept USDA Food Stamps! :violent1:

Not to worry, even if your arrival is at midnight, you can still change dollars to bahts in the airport. They stay open very late for the incoming farang.

I think they also stay open late for the incoming Thais who wish to change foreign currency back into baht, and for Asians of other nationalities as well. Not to mention Africans, Arabs, Indians, etc.

I know the world revolves around "farang", dear, but really.

[fedssocr]

Just use your ATM card once you arrive. There are machines everywhere. My bank charges a 1% fee so they are sure to get their cut.

You can buy foreign currency from most big banks. I have an account with Bank of America and bought some Baht before I left on my trip from them. As others have noted you don't get a very good rate that way, but I like having some cash in my pocket already when I arrive.

[bucknaway]

I just looked in my "Thailand Wallet" and see I have 3,220 baht... So I guess I can skip the exchange booth and wait to use an ATM when I get into Bangkok.

My room is already paid for at Babylon so the major sting to my vacation cost has already been felt... Now I am just trying to figure out how much I will use for spending money.

I don't want to keep going back to the ATM and pulling out 10,000 baht so often that I loose count of how many times I pulled cash....

Easy, take a finite number of traveler's checks and cash them as needed and until they are gone.

[dave_tf-old]

The poor Exchange rate available in the US for the baht is perfectly understandable when talking about currency. To ask your typical neighborhood bank to hold 100 odd different currencies in quantity on the odd chance that somebody is going to come in and ask for some is boutique banking. Thailand has all the baht you could possibly want, so of course they can sell it cheaper. It's still not the 'market' rate, but that's for the really big boys.

The worst thing to do in Thailand is exchange at your hotel.

The best thing, imo, is to bring your budget in Traveller's cheques (or a mix of Traveller's Cheques and clean, new cash) and save your ATM/Credit card for unexpected purchaces and emergencies. Trust me...you do NOT want to absolutely depend on machines to dispense your essential funds. Many of the ATM's will accept foreign currencies (major ones, at any rate). Slip it 100 dollars and get a decent exchange at any hour of the day or night.