i searched on the net for thai baht to philippine peso exchange. how much today?

Question

on the internet it say's that my peso value is = to .75 thai baht. but i asked at the currency exchange at the mall and my peso is = to 1 thai baht. how come?

Answer 1

Internet gives the off-shore rate for THB, not the on-shore rate.

But more importantly, as gbdelta1954 points out ... the market for peso cash in TH (and for baht cash in the PH) is very small (illiquid). In illiquid markets, the buy/sell spread is wide.

In the table from Siam Commercial Bank, try for example to calculate the %-spread (difference in buy/sell rates) for USD and for CNY.
Well, I did it for you ... the spread on THB/USD is 2% while the spread on THB/CNY is 23%.

It is quite possible that the THB/PHP spread re is 20-25%.

Answer 2

It depends on how much it costs them to exchange the peso. In other words, if they do not get alot of the peso, then it takes time for them to accumulate enough peso to exchange at the central bank. Or if they exchange on a daily basis then the rate is lower for them. That is why I usually see a better exchange rate at the airport than I would in Bangkok mall kiosk when I exchange dollars. There is usually a 1-3 percent difference. You can shop around but, that takes time.

You 30 percent difference shows that the particular bank kiosk you went to does NOT exchange a lot of Philippine Pesos so to make it profitable for them they require a higher rate.

Also the rate you may have seen on the internet was more current than the rate the mall had. OR it was the rate if Millions of Peso were exchanged.

That's why it is usually best to exchange at the airport or maybe take out cash through an ATM.

Good luck

Answer 3

Approx. 1 Thai baht = 1.502401 Philippine pesos

Answer 4

Notice: The THB rate shown below is the international rate. Rates used within Thailand or the Philippines may vary.

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

Live rates at 2007.10.04 02:43:14 UTC
1.00 PHP = 0.706198 THB
1 THB = 1.41603 PHP