I've been wondering about the 2 Tier market that has developed with the USD/THB exchange rates - namely between the onshore rates as quoted by the Bank of Thailand and the interbank (offshore) rate quoted by Bloomberg et al.
I found this research note by BKK Bank:
http://www.bangkokbank.com/download/...N200701_04.pdf
Due to the capital control (mostly lifted today 15/03) foreign investors had to hedge (fully) their THB brought into Thailand - thus creating this 2 tier market that has had me puzzled for a while.
Now capital controls largely relaxed will see with onshore(BoT) and offshore rates converge - cuurently BoT onshore rate is 34.95 and interbank offshore rate is 33.09 - thats a 5.3% difference (stronger in THB terms).
For BM's
CHANGE YOUR MONEY HERE IN THAILAND - NOT in your home country - at the moment even airport money changers will be better than offshore money changers.