Thailand

maca52 · #1 06-11-2006, 00:07

hi guys wheres the best place to change uk money is it best change it in the uk or phuket where do i get the best rate to the £ thanks

wylos · #2 06-11-2006, 00:44

Quote:

Originally Posted by maca52

hi guys wheres the best place to change uk money is it best change it in the uk or phuket where do i get the best rate to the £ thanks

ive always found takin my money out of UK and changing it in thailand better.
xchange rates at heathrow and gatwick i've found to be poor,they were offering around 62-63baht to the pound,stepped into LOS and was ranging from 67-69 baht for the pound if i remember correctly,defintely worth it..........that extra baht will get u places

faultytowers · #3 06-11-2006, 00:59

I posted this after my tour in August , so you can see that it's much better changing money in Thailand.

Quote:

Exchange Rate in UK airport - £1 = 63.92 Baht

Exchange Rate in Bangkok Airport - £1 = 69.99 Baht

mars · #4 06-11-2006, 01:37

The UK has the worst rate for changing money than anywhere in the world.

I've never found a worse rate at my destination when travelling abroad.

And they all try to con you with the "No commission" advert.

TanMan · #5 06-11-2006, 01:48

Change one night's worth at the airport in Bangkok. I've always found the exchange rate to be better in the city at a money exchange.

The TanMan

MrDK · #6 06-11-2006, 06:33

If you carry foreign cash the Money Exchange is your best choice. I have found ATM to be by far the best rates, however, you need yo me mindful of any surcharge by the banks. My bank does not add any fees and the ATM rates were better than the Money Exchange.

Maverick351 · #7 07-11-2006, 05:29

Quote:

Originally Posted by TanMan

Change one night's worth at the airport in Bangkok. I've always found the exchange rate to be better in the city at a money exchange.

The TanMan

Totally agree here...... with Aus$ it's about a 2-3 baht difference, so always change in Thailand on all of my trips.

ThaiLearner · #8 07-11-2006, 08:24

I found change your Pounds cash when you get to Thailand I even found the airport good value.

The Fish · #9 09-11-2006, 19:25

I agree. I remember the rate in patong over the last couple of years going upto into the 70's (71.00 or more). So change here.

I've noticed the rate being pretty low this Sept/Oct which is wierd because you'd think the banks would want to encourage spendind during quieter months.

---------------------------
It's dangerous in there, don't attempt anything without the gloves!!

mars · #10 10-11-2006, 02:24

[quote=The Fish;251281]

I've noticed the rate being pretty low this Sept/Oct which is wierd because you'd think the banks would want to encourage spendind during quieter months.QUOTE]

I dont think a better exchange has a lot to do with what you spend, not as far as the banks are concerned anyway.

I'm no expert but I think the exchange has a lot more to do with the economy of the country concerning trade etc.

TanMan · #11 10-11-2006, 02:58

It's actually a function of a few things between two countries:

1. purchasing power parity theory (i.e. inflation rates)
2. interest rate parity theory (i.e. interest rates)
3. trade balance
4. money supply

These generally affect the supply and demand of the respective currencies (in the long term) and hence the exchange rate.

The TanMan

norrie · #12 10-11-2006, 03:01

Quote:

Originally Posted by maca52

hi guys wheres the best place to change uk money is it best change it in the uk or phuket where do i get the best rate to the £ thanks

make sure you dont take scottish notes

!!!
i found that out!!

mars · #13 10-11-2006, 05:05

Quote:

Originally Posted by norrie

make sure you dont take scottish notes

!!!
i found that out!!

Had the same same in Italy, I was sticking £20 notes in an automatic money changer then put in a scottish £20 and it spat it out.

LivinLOS · #14 10-11-2006, 09:10

Quote:

Originally Posted by TanMan

It's actually a function of a few things between two countries:

1. purchasing power parity theory (i.e. inflation rates)
2. interest rate parity theory (i.e. interest rates)
3. trade balance
4. money supply

These generally affect the supply and demand of the respective currencies (in the long term) and hence the exchange rate.

The TanMan

Well done.. That would have taken me about 500 words and still wouldnt have said it as clearly.

There could also be added the confidence in the asset also.. Even with the above factors all in some large scale problem (war) can still knock the future perception of the currencys safe haven status.