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Dukey77777
Joined: 28 Jun 2007
Location: Chungcheongbuk-do
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 Posted: Wed Oct 01, 2008 4:22 pm Post subject: Buying baht |
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Considering the exchange rates lately....
Should I go from won to dollars to baht (in Korea or Thailand)?
Or just won to baht in Korea?
I'm pretty sure the won-baht rate is horrendous. |
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Tobias
Joined: 02 Jun 2008
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| Posted: Wed Oct 01, 2008 4:58 pm Post subject: Did a check |
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Did a check on that just yesterday, the value of the baht. I compared it to the dollar and found the rate hasn't changed much over the past few months. This tells me the won/baht rate is now favoring baht compared to what it was, say, in May of this year. Thailand doesn't export massive numbers of cars to the US, a country whose own domestic auto sales have declined by 25-30% the past quarter alone, so this should be no surprise.
Live by the Kia, die by the Kia. |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Thu Oct 02, 2008 4:51 am Post subject: |
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| Many Thai's are finding that they can no longer afford to put gas in their cars. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Oct 02, 2008 5:01 am Post subject: Re: Buying baht |
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| Dukey77777 wrote: |
Considering the exchange rates lately....
Should I go from won to dollars to baht (in Korea or Thailand)?
Or just won to baht in Korea?
I'm pretty sure the won-baht rate is horrendous. |
Vacation or re-location?
1) NEVER TAKE WON OUT OF KOREA. The shouting was intended so you don't forget it.
Typically, it is easier to buy a couple hundred thousand won worth of Baht here (just so you have it cause the airport changers in Bangkok are murder).
Take US$100s for the balance because:
a) they are easy to exchange
b) it only takes a few of them 10-20 and you have more than enough for any vacation you could possibly plan in SE Asia.
c) the equivalent of 20 Ben Franklins in most SE Asian currencies would fill a briefcase.
d) There are usually LARGE limits on the amount of foreign currency you can carry around ($10,000 usually) but most SE Asian countries have a strict limit on THEIR currency you can import or export (3000-10,000 Baht).
. |
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Tobias
Joined: 02 Jun 2008
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| Posted: Sun Oct 05, 2008 1:20 am Post subject: I probably know those |
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| spliff wrote: |
| Many Thai's are finding that they can no longer afford to put gas in their cars. |
And I probably know some of those Thais. They're the ones who wouldn't do homework, wouldn't participate in class, and didn't give a rat's behind about my or anyone else's classes. Their prospects today are farmer, sweatshop worker, or vender selling trinkets to tightwad backpackers on Koh San Road. |
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ernie
Joined: 05 Aug 2006
Location: asdfghjk
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| Posted: Sun Oct 05, 2008 6:22 pm Post subject: |
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how would the exchange rate of won > dollars > baht be any different than the rate of won > bat?
(besides having to pay double the service charges!) |
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Tobias
Joined: 02 Jun 2008
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| Posted: Sun Oct 05, 2008 6:38 pm Post subject: In a three-way |
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| In a three-way, the won could very well fall in value relative to the baht, as Thailand isn't as dependent on auto exports as Korea. Autos are luxury items, so fewer will be bought when food prices are increasing or credit is getting tight. Thailand's main export, a food, is not a luxury item, at least in theory. Everyone can simply eat less when rice goes up, sure. But reality doesn't make the world go 'round. Perceptions do. And right now, the perception is fewer Kias and Hyundais are going to be bought by the world's commuters in the next year. They will sacrifice their cars. They won't sacrifice eating. |
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ernie
Joined: 05 Aug 2006
Location: asdfghjk
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| Posted: Sun Oct 05, 2008 7:03 pm Post subject: |
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as of today,
1000KRW -> 0.789729 USD -> 27.03 baht
1000KRW -> 27.10 baht
i'm not sure why there is a difference. could it be due to different time zones, i.e. the 3-way conversion rate is a day behind because US markets for today haven't opened yet? either way, the extra service charge would surely eat up whatever profit you could make. |
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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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| Posted: Sun Oct 05, 2008 10:03 pm Post subject: Re: Buying baht |
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| ttompatz wrote: |
| d) There are usually LARGE limits on the amount of foreign currency you can carry around ($10,000 usually) but most SE Asian countries have a strict limit on THEIR currency you can import or export (3000-10,000 Baht). |
There's a limit on the amount you can import into the country?! What on Earth for? And is there any way to check what that limit is?
One more question, if you don't mind: is it best to exchange money (US dollars and Thai Baht) at a local bank, Incheon aiport, or does it matter? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Oct 05, 2008 10:06 pm Post subject: Re: Buying baht |
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| cdninkorea wrote: |
| ttompatz wrote: |
| d) There are usually LARGE limits on the amount of foreign currency you can carry around ($10,000 usually) but most SE Asian countries have a strict limit on THEIR currency you can import or export (3000-10,000 Baht). |
There's a limit on the amount you can import into the country?! What on Earth for? And is there any way to check what that limit is?
One more question, if you don't mind: is it best to exchange money (US dollars and Thai Baht) at a local bank, Incheon aiport, or does it matter? |
There ARE limits on the CASH you can import (to prevent money laundering) on each border crossing. You can SEND as much as you like by international banking.
USUALLY it is US$10,000 (or equivalent) of foreign currency and about (depending on the local economy) $200k in the local equivalent. |
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timetotravel
Joined: 02 Sep 2007
Location: korea
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| Posted: Mon Oct 06, 2008 6:15 pm Post subject: |
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for those of you who have traveled to thailand, cambodia, vietnam....
how did you find traveling with having 1000 american dollars on you? was there a safe in the guest house you stayed in? if so, did you trust it?
what did you do with money while swimming and on the beach?
im nervous about having so much cash on me and leaving it while I am off doing other things.... |
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Tobias
Joined: 02 Jun 2008
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| Posted: Mon Oct 06, 2008 6:19 pm Post subject: Be creative |
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| Be creative in hiding it. Money belts, special pouches, shaving cream cans that aren't..... |
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