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When to exchange?


Sakai

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Landing during the WE and having xK euros to change I have the following question.

 

Given that the FX market is going crazy these days with 'huge' variations over sometimes less than one week.

 

Is it wiser to change money on arrival (exchange rate will be the one from Friday) or wait until Monday, go to BOA (which has usually the best exchange rate among main Thai banks) and deposit the money on my Thai bank account but then it will be the new Monday exchange rate?

 

If it was for a few hundreds euros I wouldn't bother to ask but if one changes 9k euros

9k at 45 bht = 405K bht

9K at 48 bht = 432K bht

 

A difference of 27k bht.

 

As the euro could well end up today at around 48 bht for 1 euro and will probably fall on the Asian session Monday morning I wonder what to do.

 

 

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My approach in a fluctuating market would be to change day by day according to my needs; and then limit the amount to minimum if the daily rates are less favorable. Needless to say, you also have to consider the exchange commissions. If they are lumpsum, better to change higher amounts.

It's a gamble anyway, there's no definitive answer, you will gain and you will lose.

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Voice of reason, thanks.

 

Never bothered about the exchange rate before but the lady will scream if she sees there is a 20-30K bht difference in exchange rate.

 

Will have to stick to a principle: If the exchange rate is 47-48bht+ and a bearish trend then I change on arrival, if below 47bht on arrival but a bullish trend then I wait until Monday.

 

 

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Just do the opposite of what I do and you will be OK, as I have difficulty hitting it right...

When I got back to LOS this time (April 3) it was in the 35's to the US dollar and has declined ever since...today went up a little to like, 34.120...maybe an upward trend, I hope!

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Noep the pound is down and I expect it to be down until at least Monday.

 

Euro might rise depending on the non farm payroll reports.

If there are not too many job losses (500k or less) then the euro will rise quickly by the end of the EU session, if the figure is above 500k then expect the euro to lose some ground.

 

About the pound, it corrected itself (like the euro) this week but it seems it will continue its bearish trend at least until Monday.

 

Just my 2 cents

 

 

 

 

 

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