US Dollar to Baht Exchange Rate Reaches 35

[Gaybutton]

Today, during the second round of trading, the exchange rate crept to just above 35 baht to the US dollar for the first time in months. Some people have been reporting that they have already been getting an exchange rate in the 35's when using foreign ATM cards.

 

The round 2 exchange rates are as follows:

 

US Dollar: 35.01

 

Euro: 44.21

 

British Pound: 49.61

 

Australian Dollar: 22.4325

 

Canadian Dollar: 27.9225

 

In the past I would usually post the opening and closing daily rates, but I've been busy lately, so this time I'll let you gents check for yourselves. Both the Bank of Ayudhya and Siam Commercial Bank update online several times during the day.

 

Bank of Ayudhya: http://www.krungsri.com/en/foreign-exchange-rates.aspx

 

Siam Commercial Bank: http://www.scb.co.th/exchange/bk-pvsexchange.htm

[Guest shebavon]

For those of us here paid in dollars, this is welcome news. Bloomberg and CNBC are reporting 35.18 to the dollar, up from 35.06 on Friday.

 

If you are thinking of selling your property and buying dollars, you will get less dollars.

 

Frankly, I look forward to seeing 40 again.

[Guest buckeroo2]

I am not an economist and do not understand why the dollar is stronger against the baht lately, but the U.S. is running up massive deficits, printing money 24/7 for this stimulus package - even the countries that usually finance the U.S , debt , China and Japan are shopping for credit markets. The dollar has no fundamentals behind it - long term expect it not to fall precipitously.

[PattayaMale]

GB wrote in an earlier post, if I remember correctly, that what banks usually give when exchanging baht to dollars is the "sight" rate.

 

The other day I checked the sight rate and when I got to the bank it seemed that the rate they were giving was lower.

 

So I am wondering what is the "sight" rate?

[Guest Astrrro]

I'm not sure what the sight rate is. But I know the rate is best for wire transfers (but big fees involved) then travelers checks (33 baht per check to moneychanger and sometimes at home 1% fee to buy, sometimes free if u have Amex card), then 100's, then 20's, then 1's.

 

I noticed at the bottom of the Siam page the credit card sales slip rate which is pretty poor.

 

The credit card cash advance rate is even worse. I assume the same rate applies for debit cards. By using a debit card, you avoid your home bank's cash advance fee which is an usually an onerous 3%.

But even without the fee, the rate is poor.

 

From what I heard but never done a cost effective way to transfer money is an ACH transfer to the New York or London Bangkok Bank branch.

 

If you can buy large demonited travelers checks such as 500 USD without a commision at home this is also good.

[Guest shebavon]

If it helps someone to make some sense of it, this is what the Bank of Thailand shows on it's website for today.

 

16 กุมภาพันธ์ 2552 16 February 2552.

Bill Bill. Telex Telex. Selling Selling.

USD USD. 34.9296 34.9296. 35.0292 35.0292. 35.3019 35.3019.

EUR EUR. 44.4827 44.4827. 44.6060 44.6060. 45.2189 45.2189.

JPY(100) JPY (100). 37.9130 37.9130. 38.0183 38.0183. 38.6824 38.6824

[Gaybutton]

If it helps someone to make some sense of it, this is what the Bank of Thailand shows on it's website for today.

If that's the way it's displayed, then it's kind of a jumbled up mess, but it looks like they're showing a couple rounds of trading - how much they'll pay to buy dollars and how much you have to pay if you're buying dollars.

 

"Sight" means the exchange rate you get if you walk into the bank to exchange actual cash or if you are receiving money via direct deposit into your Thai bank account. If you have a Thai bank account, then when you withdraw funds the equivalent dollar value (or whatever currency you use) is usually on par with the 'sight' value.