What’s the Best Place in Bangkok to Exchange USD to Baht?

What’s the best place in Bangkok to exchange USD to Baht? What does everyone think about the small money exchange businesses? Like local shops that do cash exchange?

Question Geography | City: Bangkok | Country: Thailand
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Thailand 3 Answers 187 views 2

Answers ( 3 )

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    SuperRich at the main BTS (Bangkok Mass Transit) stations are generally excellent and about as good as the pure Mastercard and visa rates from experience. Perfect condition $100 bills will get you the best rate. SuperRich also have their Android app as well. Also, Khao San Road is the worst place in Thailand to change cash, although it’s always fun for a night out.

    Best answer
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    Another better choice I can tell you is where you can get the best rates (1-3 baht per dollar/euro, maybe better than SuperRich) is an exchange place under the nut “On Nut” BTS station run by Chinese. If you need a street view of same, here you go – https://goo.gl/maps/oQAVggt9kRx

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      I doubt that. Super rich have 1€ for 38.50 baht. If you wanna change baht to euro you need 38.60 for 1€.

      So if the Chinese give me 40.5 – 41.5 for euro, I could change 1000€ and get 40500-41500.

      Then you can change that back in SuperRich in euro 1050-1075€. Easy money lol

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        Is that right? The spread at SuperRich always seemed pretty small (currently buying EUR at 38.5 and selling at 38.6, mid-market from Google is 38.60.

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          Maybe you’re right, my mistake but the difference is like 0,1-5 with SuperRich and this place. Anyways you can also find a SuperRich at “On Nut” BTS too. And it doesn’t hurt to compare.

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    What does everyone think about the small money exchange businesses? Like local shops that do cash exchange? They do the best exchange rate, like XE of the day, better than super rich but I’m not sure how legit they are… But I have used several times and no problems so far. Thoughts?!

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      Happy to be proved wrong but I have never had them beat SuperRich without bartering hard on larger amounts.

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        Well, they do the EXACT exchange rate my XE app tells me, which isn’t normal right? and they charge no commission… I’m just trying to figure out if it’s really legit or not as it always seems too good to be true!

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          Allow me to explain:
          The XE rate is just the midpoint of the price corporate buyers are willing to pay and sellers are willing to sell – it does not correlate with the price a bank would actually pay. Since THB is illiquid due to govt controls the spread (the difference between buying and sell prices) is very large – so the XE rate (midpoint) is less accurate to determine the “pure” price than other currencies.

          Secondly – since there are government controls banks are less important in the market. So the smaller exchange booths are detached from the banking market. Their business is much more about the price THEIR customers are willing to pay and sell at. They don’t bank their cash as often (realising a gain or loss back to THB) or insure/hedge their currencies (to the same degree) – so the effect is a brilliantly efficient local market that results in very small local spreads.

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