Im going to Singapore next week and I would like to exchange some THB into singapore currency before I leave here as I have a tight schedule. Are there exchange boths at the new airport to get rid of Thai Baht to buy foreign currency? Do you get a good rate, or is there better places to exchange? I know when you come into Thailand you get a good rate at the airport but im not sure about when you leave. Thanks for any info...............
Currency Exchange?
Started by aussiestyle1983, 2006-10-16 17:30
#2
cclub75
Platinum Member Posted 2006-10-16 17:40:17
Im going to Singapore next week and I would like to exchange some THB into singapore currency before I leave here as I have a tight schedule. Are there exchange boths at the new airport to get rid of Thai Baht to buy foreign currency? Do you get a good rate, or is there better places to exchange? I know when you come into Thailand you get a good rate at the airport but im not sure about when you leave. Thanks for any info............... Plenty of them. At least 3 in the check-in hall (others on level 3). And many other, after passeport control. #3
bkkandrew
Senior Member Posted 2006-10-16 18:21:30
Im going to Singapore next week and I would like to exchange some THB into singapore currency before I leave here as I have a tight schedule. Are there exchange boths at the new airport to get rid of Thai Baht to buy foreign currency? Do you get a good rate, or is there better places to exchange? I know when you come into Thailand you get a good rate at the airport but im not sure about when you leave. Thanks for any info............... If you had more time then the rate is around 2-4% better at Super Rich in Pratunham.. #4
dreimer
Member Posted 2006-10-16 18:40:30
Do you get a good rate, or is there better places to exchange? I know when you come into Thailand you get a good rate at the airport but im not sure about when you leave. Thanks for any info............... Currency exchange rates are set by the individual Thai bank and are the same at every one of their locations in Thailand. The whole system is computerized but there might be a very slight difference between banks. The difference between buying and selling currency is usually about 3% plus service charge. You would be better off using your Thai ATM or credit card in Singapore, than selling Baht and buying S$, either here or in Singapore. #5
Soju
Senior Member Posted 2006-10-17 09:07:14
Do you get a good rate, or is there better places to exchange? I know when you come into Thailand you get a good rate at the airport but im not sure about when you leave. Thanks for any info............... Currency exchange rates are set by the individual Thai bank and are the same at every one of their locations in Thailand. The whole system is computerized but there might be a very slight difference between banks. The difference between buying and selling currency is usually about 3% plus service charge. You would be better off using your Thai ATM or credit card in Singapore, than selling Baht and buying S$, either here or in Singapore. I've never checked the situation for SGD, but certainly for USD and other major currencies there is a huge difference in the cash exchange rate during banking hours and outside of banking hours. During banking hours, the airport booths seem to offer the same rates as do all of their bank branches anyplace in Thailand, but if you wanted to exchange money at night or the weekend the rate goes down by a considerable amount. #6
aussiestyle1983
Super Member Posted 2006-10-17 10:54:41
Thanks for the input................
I guess ill just take enough money to cover the first day which is when ill be rushed, and then after that ill just use my Thai ATM card. I guess it will work there, it's a K-Bank Visa Electron.............? Maybe i just use the ATM card to withdraw the cash there. Thanks for the ideas.............. Anthony #7
dreimer
Member Posted 2006-10-17 12:25:46
Do you get a good rate, or is there better places to exchange? I know when you come into Thailand you get a good rate at the airport but im not sure about when you leave. Thanks for any info............... Currency exchange rates are set by the individual Thai bank and are the same at every one of their locations in Thailand. The whole system is computerized but there might be a very slight difference between banks. The difference between buying and selling currency is usually about 3% plus service charge. You would be better off using your Thai ATM or credit card in Singapore, than selling Baht and buying S$, either here or in Singapore. I've never checked the situation for SGD, but certainly for USD and other major currencies there is a huge difference in the cash exchange rate during banking hours and outside of banking hours. During banking hours, the airport booths seem to offer the same rates as do all of their bank branches anyplace in Thailand, but if you wanted to exchange money at night or the weekend the rate goes down by a considerable amount. Not sure what you mean by banking hours. Here in Thailand most of the major banks have opened branches in shopping centers. These are open til 8pm during the week and on Saturdays as well. Their currency exchange branches are open every day with much longer operating hours and all are computerized. Maybe you're thinking about non-bank currency exchanges where you will really get ripped off. #8
Soju
Senior Member Posted 2006-10-17 13:06:55
Not sure what you mean by banking hours. Here in Thailand most of the major banks have opened branches in shopping centers. These are open til 8pm during the week and on Saturdays as well. Their currency exchange branches are open every day with much longer operating hours and all are computerized. Maybe you're thinking about non-bank currency exchanges where you will really get ripped off. I'm not sure what I mean either.  All I know is that any currency exchange booth, whether bank operated or not, whether inside/at a bank, at the airport, or at any other location gives a much lower rate at night than during a normal business day. I also saw a much lower rate during the day on a Sunday. I don't think it matters if the bank has some shopping center branches open or not as it's not whether or not an actual branch is open but whether the bank's main headquarters are open and doing business trading currency on the open market or not. So what those exact hours are or whether it's tied to office hours or hours the currency market is open, I'm not sure. But based on experience, I believe the good rate kicks into effect sometime around 8 or 9 AM and stays into effect until late afternoon, maybe as late as 6PM. I'm guessing that during the off times they don't want to take a chance on something having a drastic effect on the currency market and someone trying to exchange piles of money to take advantage of the situation. So they lower the rate by a large enough amount so that they're covered if that should happen. Makes sense why they do it, but makes for a bad deal for someone who needs to exchange money after hours.Maybe someone else more knowledgeable about this has the exact hours the best rates are in effect. #9
dvk1951
Senior Member Posted 2006-10-17 14:36:18
For what it is worth, the airport xchange may not have the currency you seek, for example, no one had Brunei dollars last week Thursday.
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