Originally Posted by
AAJetMan
Interesting...the "off-shore and on-shore rates".
Perhaps that would explain why the websites were indicating ~31 THB/US$ but the hotel was paying ~33THB/US$ when I was there last fall. (Even though I was expecting a lower rate at hotel!!)
Might that off-shore vs on-shore explain the better rate whlie inside Thailand?
And has that "distinction...now disapperared"?
Thanks in advance.
Yes, that's why. For most of 2007, there was a 2-3 baht spread between the offshore rates on the freely traded world currency markets and the onshore rate paid by most banks in Thailand. The currency-controls imposed by the government that created the divergence have been lifted, so now there is no difference between offshore and onshore exchange rates.