Tips to Get the Best Currency Exchange Rates

When you plan an overseas trip, you might consider the airplane ticket, accommodation, and transportation; however, pocket money is also essential. Therefore, today were sharing tips on how to get the best rates when you exchange money here in Thailand.

How to Exchange Money

1. Check The Exchange Rate Regularly

Of course, exchange rates fluctuate in response to the different economic factors in each country. Therefore, it’s important to keep checking the exchange rates. You can do this online for real-time updates. 

2. Avoid Weekends

Saturday and Sunday are the days to avoid, as this is when the forex market closes. Therefore, the exchange rate will defer to Friday’s rate, and exchange services might charge an extra fee during the weekend to avoid the risk of the rate difference.

3. Use Reputable Services

Apart from the reliability provided by a reputable service, the higher number of customers they have will also positively affect the exchange as follows:

• A service provider with a high number of customers will receive profits from all transactions; therefore, they do not charge extra fees, and customers get the best exchange rate.
• A provider with both Thai and foreign customers will have high liquidity from the multicurrency exchange and provide the best exchange rates.

4. Exchange Only Enough

You might be tempted to exchange a lot of money while the exchange rate is good, but make sure you only exchange what you’ll spend, especially if it’s not a country you visit often. If you exchange money back in your home country, then the chances are that you will incur a loss. 

5. Select The Best Area

Nowadays, you’ll find currency exchange booths almost everywhere, but the location plays a part in the exchange rate you’ll receive. If you choose touristy areas, then the chances are the exchange rate won’t be as good. Either way, be sure to always pick a location you feel safe in. If you’re looking for currency exchange near Chidlom BTS, The Mercury Ville @ Chidlom provides currency exchange services in a safe and convenient location close to Chidlom BTS Skytrain exit number 3, which connects directly to the mall.