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Is it cheaper to buy currency at home or at destination ??

Travel Forums Asia Is it cheaper to buy currency at home or at destination ??

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11. Posted by Steve_ell (Budding Member 39 posts) 9y

Thanks everybody for your info

12. Posted by karazyal (Travel Guru 1595 posts) 9y

Quoting Steve_ell

Has anyone noticed if there is a significant & consistent advantage in buying currency at home before you leave raher than buying it on arrival in the foreign country? Specifically I am faced with the dilemma of using $A to buy Thai baht here in Oz before I leave, or waiting till I arrive in Thailand. I am changing a fairly large amount.

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I don't think there is anyway you can get a better exchange rate for your money, in your country, immediately before you arrive at Bangkok. Just check the daily currency exchange rates published in your business dailies and compare that against the rate you get at home.

The exchange rates for Thai baht change each day. Some days you get a few percentage points more or less than the day before. Usually the differences are very small though.

The ATM exchange rates pretty much match the same rates the Thai banks are using that day. Sometimes a few baht better.

Your big problem with ATM machines is the fee you pay to use an ATM overseas. Check with your credit card or debit card provider to see how much they charge in fees when you use their card out of country. Some ATM fees are very high! Travelers who routinely leave a balance on their credit card bills may not even know they are also paying high ATM fees. When you pay your card off each month in full you notice the big fees right away!

So, to cut down on ATM fees don't make a lot of small withdrawals where your fees may almost match what you are taking out. Make big withdrawals to save on ATM fees! You will have a chance at the airport to change your baht back to your home currency before you leave Thailand. (Use the security box or safety box at your hotel to safeguard your money and valuables."

There are several currency converters out on the net, here is a couple you can cut and paste into your computer. The rate could be off by 1 day because of time differences.

http://www.currencysource.com/?gclid=CKuNpbqX3oYCFSV6Ggodm1qd4w

http://www.xe.com/ucc/

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