Currency Exchange rates on this Forum

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sateeb
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Currency Exchange rates on this Forum

Post by sateeb »

Hi All

I see that this Forum uses FX rate.net.....the rates shown are nothing near the actual true rates you will get in a Thai bank. For example FX is showing the pound at 48.9 baht to the pound and these are the rates you will get at Kasikorn bank.

Currency Exchange Rate
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Date 18 January 2012 Time 10:38:51 Round 2

BANK BUYING RATE BANK SELLING RATE
FOREIGN CURRENCIES Description BANK NOTES TRAVELLERS' CHEQUES EXPORT SIGHT BILL TELEX TRANSFER TT&DRAFT T/CHEQUES BANK NOTES

Pound Sterling 47.98225 48.29625 48.29625 48.44875 49.04250 49.3925
Bank note T/C export Telex/T Bank Buying rate


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usual suspect
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Re: Currency Exchange rates on this Forum

Post by usual suspect »

Simple bench-mark..whatever £/Baht exchange rate you see on here, then subtract a full 1 Baht/£ and THAT is the actual rate the Exchange Booths on the HH streets are giving. :?
deepee
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Re: Currency Exchange rates on this Forum

Post by deepee »

sateeb ,
the rates given are the mid rate which is Fx's value of one currency against another. Currencies are bought and sold against this rate but unless the dealer makes a charge then they gain nothing for their effort and risk, especially in this current economic environment. Not everyone is out to sell their pounds,dollars or whatever for baht , there are many going the other way buying pounds and dollars with baht hence the mid rate is shown.
As usual suspect states you can expect to get about a full baht less on Fx's listed rates if changing over to baht.
Complexity is so simply overrated
sateeb
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Re: Currency Exchange rates on this Forum

Post by sateeb »

Thanks for that explanation,however I still think it is pointless to show this on our Forum,a link to Kasikorn Bank or SCB would be of more use. Trivial it may be but sometimes it annoys me when someone in a bar states"i see the Pound is nearly up to 50baht"
“Never argue with an idiot. They will only bring you down to their level and beat you with experience.”

― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
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Lev
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Re: Currency Exchange rates on this Forum

Post by Lev »

We cannot show every bank and exchange booth rate - the page will be larger than the forum itself, as stated the currencies (and the weather) should be treated as a general indicator - they come from third party websites, you'll need to visit your own bank if you want accurate rates for the day, we are not responsible for their commissions and cuts.
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