Thailand Bhat Conversion to $

[sachin1778]

Hi Everyone,

I am new to this forum, I am visiting Phuket from Nov 28 to Dec 8. I am from New Zealand.

I need advice from you guys about Conversion of money .

If i convert my NZ $ to Thai Bhat i am getting 27 Bhat for 1 NZ $

Is it good idea to convert it here in NZ or should i convert it in Thailand ??

Any Information will be help full

Thanks in Advance

[JayBee]

The current rate of exchange is 28.52 Baht for one NZ dollar.

Most likely it is best to change the funds in LOS. I'm not from NZ, but in the US, if you change your money here, the commission rate they charge is very high. They don't charge much at all in LOS, and there is no shortage of currency exchanges in Patong!!

FXCheatSheet
New Zealand Dollar (NZD) to Thai Baht (THB)
for Thursday, November 24, 2005


NZD THB NZD THB NZD THB
1 = 28.52 10 = 285.22 100 = 2852
2 = 57.04 15 = 427.82 200 = 5704
3 = 85.56 20 = 570.43 300 = 8556
4 = 114.09 25 = 713.04 400 = 11409
5 = 142.61 30 = 855.65 500 = 14261
6 = 171.13 35 = 998.26 600 = 17113
7 = 199.65 40 = 1140.86 700 = 19965
8 = 228.17 45 = 1283.47 800 = 22817
9 = 256.69 50 = 1426.08 900 = 25669

[sachin1778]

Hi JayBee,

Thanks for the information this helps .....
I can save some money if i convert it in Thailand ......

[Tyfon]

Originally Posted by sachin1778

Hi JayBee,

Thanks for the information this helps .....
I can save some money if i convert it in Thailand ......

Turn up with a few thousand Baht to get you out of the airport and support you while you find an exchange.

Also check with your bank before leaving and establish:

1) Whether your usual ATM card will allow you to make withdrawals from Thai ATMs

2) How much you will be charged for each transaction (flat fee or %)

My UK ATM card (Visa Debit) works fine and even with the GBP1.50 transaction fee factored in rivals the best exchange rates I could get at home. Local exchange bureaux may prove even better though, YMMV. Perhaps a recent bureaux user could post some rates/commissions?

[sachin1778]

Hi Thanks for the info.

NZ Banks charge 7 $ for each withdrawals Done Overseas. So i am not very keen on using my ATM in Thailand.

[nelsonone]

Originally Posted by sachin1778

Hi Thanks for the info.

NZ Banks charge 7 $ for each withdrawals Done Overseas. So i am not very keen on using my ATM in Thailand.

Crikey Sachin............7 bucks????.......who do you bank with man......should be about $2.50 at most NZ banks

Even at this rate it may be better to use ATMs for large amounts only say $500 upwards.......as Banks get the best wholesale rates of the day..........everyone charges a commission in one way another.......just depends whether it is up front or hidden in the rate

[sachin1778]

National Bank of Newzealand

www.nationalbank.co.nz

The fees was 5$ till 18 Of Nov 2005 , They have raised it to 7 $ now

Hummmmmmm

[nelsonone]

The national Bank of NZ are Bloody Croooks mate!!!..........I live both in NZ and AUS Sachin and bank with ANZ (Aus) and they don't charge me any fee as i have several consolidated accounts with them........however I know that they only charge in general a $2 fee

My point though is that if you are changing say $500 each time........not difficult to go through that in a day or 2 if you are having fun..........at $7 flat fee you are paying only about a 1.45% fee or something and getting the wholesale money market rate......most money changers will charge at least 2% and give you a worst exchange rate or not charge you commission and the give you a cr@p Xrate

Also the convenience of just carrying a secure card is invaluable

[sachin1778]

Yup i agree 7 $ gives you more peace of mind

[Tyfon]

Originally Posted by sachin1778

Yup i agree 7 $ gives you more peace of mind

That's about 200THB, so if you draw out 10,000THB, that's 2% 'commission' - less if you withdraw more (That's about 2-3 days worth for me ). So it depends what the commissions are at home/bureaux de change...