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formulaic
Joined: 27 Jan 2005
Location: seoul
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 Posted: Thu Feb 12, 2009 7:22 am Post subject: Best way to change cash for weeks hols in Thailand? |
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Thought I could resolve this with a quick eslcafe search, however I found two different points of view that both claimed to be much better.
These are:
1. Changing Korean Won to Thailand Baht here at KEB bank is best.
2. Changing Korean Won to USD here at KEB bank AND THEN changing those USD to Thai Baht in Thailand is best.
Anyone know which is actually better?
(I don't have an international ATM card or credit card btw, so must exchange cash)
Thanks |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Thu Feb 12, 2009 7:52 am Post subject: |
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| I changed for dollars at KEB. Then, I changed in Bangkok for Baht. My calculations showed me that I saved money by doing this. |
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formulaic
Joined: 27 Jan 2005
Location: seoul
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| Posted: Thu Feb 12, 2009 8:20 pm Post subject: |
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Thanks,
My calculations also show that I should have an extra 75,000 Won on 1,250,000 doing it this way. How strange!! |
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sobriquet
Joined: 16 Feb 2007
Location: Nakatomi Plaza
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| Posted: Thu Feb 12, 2009 8:47 pm Post subject: |
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| ^ Dif internal and external exchange rate |
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Yu_Bum_suk
Joined: 25 Dec 2004
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| Posted: Thu Feb 12, 2009 9:28 pm Post subject: |
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| Change to dollars here and then to baht there. |
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wings
Joined: 09 Nov 2006
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| Posted: Fri Feb 13, 2009 5:38 pm Post subject: |
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| I am pretty bad with thinking through things like this, could someone walk me through why it�s better to change to US $ first? |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Fri Feb 13, 2009 6:37 pm Post subject: |
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| wings wrote: |
| I am pretty bad with thinking through things like this, could someone walk me through why it�s better to change to US $ first? |
Well, it isn't all that easy to explain if you are in the dark that much. Foreign currency exchange rates are priced the same way everything else is. It is ultimately supply and demand that keep the markets functioning. The won is not needed anywhere outside of Korea. It is not desirable to have this currency in a country like Thailand. You don't want it when you are there. The banks also don't want it. Because of this, they aren't going to pay you a large sum of money to get it. Dollars are in demand. They are the de facto currency of Cambodia and widely accepted in Laos and Burma. Dollars also fuel the economy here in S. Korea. It ain't rocket science..... |
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Cartman
Joined: 30 Jun 2009
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| Posted: Wed Oct 28, 2009 4:25 am Post subject: |
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Can anyone shed some light on what the best thing to do when returning to Korea (from Thailand) in regards to currency. Is it best to:
1) Bring back your remaining baht to Korea and get won here again?
2) Change your remaining baht back to USD (in Thailand), then bring the USD to change to won back in Korea?
3) Try to change your baht to won in Thailand before returning? (I can't see this being a good option)
thx |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Wed Oct 28, 2009 4:32 am Post subject: |
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| Cartman wrote: |
Can anyone shed some light on what the best thing to do when returning to Korea (from Thailand) in regards to currency. Is it best to:
1) Bring back your remaining baht to Korea and get won here again?
2) Change your remaining baht back to USD (in Thailand), then bring the USD to change to won back in Korea?
3) Try to change your baht to won in Thailand before returning? (I can't see this being a good option)
thx |
The best option is to stay the hell out of Korea and stick with Thailand ..... Life is infinitely better here! |
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Cartman
Joined: 30 Jun 2009
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| Posted: Wed Oct 28, 2009 5:18 am Post subject: |
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ya thanx for pouncing on this post with no answer... I have to come back to Korea to finish out my contract, so I can save the cash making me able to go to Thailand for a few months next year
Is anyone able to advise on my question above?  |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Thu Oct 29, 2009 6:23 am Post subject: |
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| Cartman wrote: |
Can anyone shed some light on what the best thing to do when returning to Korea (from Thailand) in regards to currency. Is it best to:
1) Bring back your remaining baht to Korea |
It is illegal to remove any Thai currency from the Kingdom. Exchange at the airport if not done sooner. |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Thu Oct 29, 2009 6:25 am Post subject: |
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| VanIslander wrote: |
| Cartman wrote: |
Can anyone shed some light on what the best thing to do when returning to Korea (from Thailand) in regards to currency. Is it best to:
1) Bring back your remaining baht to Korea |
It is illegal to remove any Thai currency from the Kingdom. Exchange at the airport if not done sooner. |
That is absolutely not true! You can take baht out of Thailand. I have done it dozens of times. I have changed it in several countries as well. They also use Thai Baht in Cambodia and Laos .... |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Thu Oct 29, 2009 9:03 pm Post subject: |
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| losing_touch wrote: |
| VanIslander wrote: |
| It is illegal to remove any Thai currency from the Kingdom. Exchange at the airport if not done sooner. |
That is absolutely not true! You can take baht out of Thailand. I have done it dozens of times. I have changed it in several countries as well. They also use Thai Baht in Cambodia and Laos .... |
A Thai told me it was ILLEGAL. He could be wrong.
Or maybe there's a difference between the law and the practice. Of course there is a (black?) market for Thai currency in Laos and Cambodia.
If you hear of a place with a good exchange rate outside of the country then let us know, otherwise this issue is moot. |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Fri Oct 30, 2009 2:17 am Post subject: |
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| VanIslander wrote: |
| losing_touch wrote: |
| VanIslander wrote: |
| It is illegal to remove any Thai currency from the Kingdom. Exchange at the airport if not done sooner. |
That is absolutely not true! You can take baht out of Thailand. I have done it dozens of times. I have changed it in several countries as well. They also use Thai Baht in Cambodia and Laos .... |
A Thai told me it was ILLEGAL. He could be wrong.
Or maybe there's a difference between the law and the practice. Of course there is a (black?) market for Thai currency in Laos and Cambodia.
If you hear of a place with a good exchange rate outside of the country then let us know, otherwise this issue is moot. |
I never said that the rate was good outside of Thailand. It is reasonable I suppose. If you can buy and sell Thai Baht at banks and exchange booths in other countries, it certainly isn't illegal. The Lao Kip, Cambodian Riel, and Vietnamese Dong on the other hand are completely worthless outside of the country. |
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