Answers
I'm going to Thailand and want to exchange some US dollars for Thai Baht before I leave. However, the Travelex currency exchange rates say that $1=28 baht, whereas most websites online say $1=33 or 34 baht. And banks charge a bunch of fees to have the currency shipped to them. I was wondering where is the best place to exchange currency in San Francisco that has better exchange rates? or should I just change it in Thailand?
the best thing would be to change it in Thailand there will be ATM's at the airport. they will also accept the greenbacks.
but for something interesting you could try local coin dealers who like me sell currency at a slight discount to the going rate. you might pick up some cheap currency. As I am in Australia it would be a bit far to come for the exchanging here, but give the local coin dealers a try?
How do currencies get their value? Are there set formulas that make the value go up & down? What factors determine the exchange rate of a currency?
In a free market, it is simple supply and demand.
If you flood the foreign markets with your currency, you create an excess supply of it, and the value goes down. That makes other currencies stronger in comparison, which wrecks the economies of exporter nations.
Or if you soak up much of your currency that is in circulation in foreign markets, you create a scarcity and your currency becomes more valuable. That wrecks your own export business.
One way of moving your currency in or out of foreign markets is by your balance of trade. If you have a trade surplus, like we had before 1980, you are selling more than you buy, and your currency gets stronger.
If you hae a trade deficit like we have had since 1980, you are buying more than you sell, and the foriegn markets are getting flooded with your currency. Your currency then gets weaker.
That tends to have a self-correcting effect, because when your currency gets weaker it costs more to buy imports and your trade balance tends to stabilize.
That is not happening today relative to Chinese currency, because the Chinese are manipulating their currency to keep it weak so they can keep exporting to us. That is bleeding money out of our economy while they have crowbarred the self-correcting mechanism, so our economy will continue to self-destruct until we find a president who has the sense to put a stop to this insanity.
I'm going out of country to Japan and I am going to be missing school so my math teacher wants me to calculate the currency exchange rate for both weeks I'll be there.
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http://finance.yahoo.com/currency
Where in thailand can i get the highest currency exchange rate i will be wanting to change US dollars into Thai Baht and i know that some places have higher exchange rates then other's.CENTRAL BANGKOK ONLY*
airport?
Best place is Super Rich for Bangkok. Make sure you have large denominations like $50's and 100;s for best rate. Here is the website http://www.superrich1965.com/Eng/locatio n.aspx
I have a Citibank account but which local korean banks have the best currency exchange rate? Does citibank in korea have a good exchange rate?
The actual Exchange Rate is determined federally if I understand correctly. The difference in price comes in the way of different fees banks may charge to exchange the currency. The bank where I work charges a flat $16.50 fee for any type of currency exchange.
Dollar Touches 14-Month Low on Outlook for Fed's Target Rate
Oct. 17 (Bloomberg) -- The dollar dropped the most against the euro in more than a month and reached a 14-month low on speculation the Federal Reserve will trail other central banks in boosting interest rates.
Sterling rose against all of its major rivals this week on signs the Bank of England may suspend quantitative easing, reducing concern it’s flooding the market with new currency. The dollar slid as minutes of the Fed’s September meeting showed some policy makers were open to boosting purchases of mortgage- backed securities. The greenback may extend its decline when the central bank releases its Beige Book business survey next week.
“There’s no good news for the dollar,” said Dale Thomas , head of currencies in London at Insight Investment Management, which oversees about $121 billion. “The underlying trend is still for a gradual recovery of the global economy and a weak dollar.” The dollar will remain a “funding currency” for investors to buy higher-yielding assets as U.S. borrowing costs stay low, Thomas said.
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Bloomberg - Oct 23, 2009
MiamiHerald.comThey rose 0.3 percent to 6.6265 today, compared with a spot exchange rate of 6.8275. The dollar's decline against all 16 of the most-active currencies in Op-Ed Columnist The Chinese DisconnectDaily Foreign Exchange Market Summary 23/10/2009Krugman Rails Against China's Currency Policy - -all 281 news articles »