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Old 28th July 2011, 12:19   #61
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Default re: The Forex Thread

Hope the members of this thread will reply.

I'm traveling to Thailand on 5th of August. All of us are supposed to have at least 10000 TBH (Equivalent in USD is acceptable too) at the visa counter. So I was thinking of buying USD here and then exchanging it for TBH. But just today i stumbled on some news about USD about to crash post August 2nd (Just google "August 2 US").

So what do you guys advice?
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Old 28th July 2011, 12:55   #62
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Default re: The Forex Thread

Carry INR yaar. I carried only INR to KL/SIN/BKK and had no issues exchanging it in most places
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Old 28th July 2011, 13:01   #63
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Carry INR yaar. I carried only INR to KL/SIN/BKK and had no issues exchanging it in most places
When was that? Also, do international debit cards work? I mean any hidden charges?
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Old 28th July 2011, 13:35   #64
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Hope the members of this thread will reply.

I'm traveling to Thailand on 5th of August. All of us are supposed to have at least 10000 TBH (Equivalent in USD is acceptable too) at the visa counter. So I was thinking of buying USD here and then exchanging it for TBH. But just today i stumbled on some news about USD about to crash post August 2nd (Just google "August 2 US").

So what do you guys advice?
Well you really can't predict the value of dollar whether its going to fall over time or rise.
Break your total dollar purchase and buy it in parts before and after the predicted date of fall so you cut loss at least 50%
Anyways the best option is to get the dollars in black through some agent than from the banks and forex where they sell for a premium and buy back for peanuts.
I realized the best option is to use the credit card.
You save the trouble of buying dollars at premium and again convert it to that countries currency, then the same process backwards to give away unused currency - dollars- INR. Charged at very step of conversion.
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Old 28th July 2011, 14:32   #65
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When was that? Also, do international debit cards work? I mean any hidden charges?
You can carry INR and exchange it at any of the Forex counters. I did so quite recently and no issues what so ever. Also if you are to use a debit/credit card VISA there is bound to be exchange/conversion charges.

Unless its like DXB/AbuDhabi airports where you can pay in Dirhams/USD/INR when you swipe your CC.
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Old 28th July 2011, 15:26   #66
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When was that? Also, do international debit cards work? I mean any hidden charges?
CCs charge 5% on transaction. You need to apply for an international debit card and fill it up with money first. My company gives a world money card for its office travelers.


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Anyways the best option is to get the dollars in black through some agent than from the banks and forex where they sell for a premium and buy back for peanuts.
And sponsor the next Bomb Blast that kills and maims bystanders at a railway platform or market in our country? You could be maimed for life with proceeds form your own money someday if you get caught in an act of terror someday.

Please stay away from Hawala and black money operators.

--Ragul

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Old 28th July 2011, 16:07   #67
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Well you really can't predict the value of dollar whether its going to fall over time or rise.
Break your total dollar purchase and buy it in parts before and after the predicted date of fall so you cut loss at least 50%
Anyways the best option is to get the dollars in black through some agent than from the banks and forex where they sell for a premium and buy back for peanuts.
I realized the best option is to use the credit card.
You save the trouble of buying dollars at premium and again convert it to that countries currency, then the same process backwards to give away unused currency - dollars- INR. Charged at very step of conversion.
Thanks RJSTYLES & RAGUL.

Visasterji. I guess that 50% thing is a good idea. I don't know what's going to happen to dollar after 2 Aug. But i hope it falls low low low low.
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Old 28th July 2011, 20:19   #68
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Carry INR yaar. I carried only INR to KL/SIN/BKK and had no issues exchanging it in most places
I had a different experience in 2008 when I went to Phuket. One of my friend told me to carry INR and exchange whenever required. When I reached BKK airport we had to give 1200 bhat in cash for visa on arrival fee and they accept only bhat no other currency. I was in trouble checked with several banks exchange counter the ladies simply said "NO INR, No INR". The other friend who was coming from Delhi had USD with him exchanged it with bhat, paid the visa fee and entered Thailand. Even checked in Phuket too there are only few banks exchage INR. So it is better to carry USD, safest, every body accept it. I do not know if the situation has changed now.
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Old 29th July 2011, 12:10   #69
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I had a different experience in 2008 when I went to Phuket. One of my friend told me to carry INR and exchange whenever required. When I reached BKK airport we had to give 1200 bhat in cash for visa on arrival fee and they accept only bhat no other currency. I was in trouble checked with several banks exchange counter the ladies simply said "NO INR, No INR". The other friend who was coming from Delhi had USD with him exchanged it with bhat, paid the visa fee and entered Thailand. Even checked in Phuket too there are only few banks exchage INR. So it is better to carry USD, safest, every body accept it. I do not know if the situation has changed now.
Yup! USD is the way to go I guess. BTW, should you get it done via local shops or big Forex agencies?
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Old 29th July 2011, 15:48   #70
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Yup! USD is the way to go I guess. BTW, should you get it done via local shops or big Forex agencies?
Carry 50% USD and 50% in THB. Buy from the person who gives you the best rate. Ask around different banks for he best rate.

Credit Cards are safer than Debit cards. Keep an international CC (visa preferred) as a backup.

Last edited by Jaguar : 29th July 2011 at 15:50.
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Old 5th December 2011, 19:10   #71
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Default re: The Forex Thread

Hi everyone,
I am travelling to Malaysia-Singapore-Colombo on 28th of this month and I plan to carry about Rs. 75K INR. Please suggest what is the best currency to carry wherein I will not lose much on exchange alone. I dont plan to carry cards but only cash. Please suggest what currency to carry and where to buy them in Hyderabad.

Regards.

Patil.
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Old 6th December 2011, 10:32   #72
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Hi everyone,
I am travelling to Malaysia-Singapore-Colombo on 28th of this month and I plan to carry about Rs. 75K INR. Please suggest what is the best currency to carry wherein I will not lose much on exchange alone. I dont plan to carry cards but only cash. Please suggest what currency to carry and where to buy them in Hyderabad.

Regards.

Patil.
patil carry INR with you and exchange only for your taxi charges. Lets say you are landing in Changi, then ensure you only carry enough for your taxi to the hotel.
Once in Singapore, go to Mustafa and exchange your currency to SGD for shopping and everything. Additionally you can also get a few Malaysian ringitts from Mustafa's for your Malaysian leg.

In Malaysia there are multiple places in Bukit Bintang for currency exchange. Exchange with the place that gives you the best prices. BTW carry 500 and 1000 denominations. They prefer these denominations than the 100's.

Do the same in Sri-lanka also, but I would prefer a bank in Srilanka than the local market. The Colombo airport itself has a few banks where you can exchange currency.
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Old 6th December 2011, 19:16   #73
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patil carry INR with you and exchange only for your taxi charges. Lets say you are landing in Changi, then ensure you only carry enough for your taxi to the hotel.
Once in Singapore, go to Mustafa and exchange your currency to SGD for shopping and everything. Additionally you can also get a few Malaysian ringitts from Mustafa's for your Malaysian leg.

I would be going to Malaysia first and singapore later. We are four friends travelling together and all the other three are dependent on my suggestions. I dont want them to blame me for any inconvinience. So my only concern is to make sure that we can exchange INR in Malaysia and Singapore. We are going by package tour and we dont need to take a taxi. Though your reply to my post is sufficient I have some more doubts. What will be the difference of rate of exchange if done so in India and the respective countries. What would be the ratio of spending in Malaysia and Singapore. For example if I plan to spend 50k how much for Malaysia and how much for Singapore. Since we are going by a tour operator we have to abide by the operators schedule. So will it be possible for us to exchange at the earliest after reaching each country.

Thanks.

Patil.
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Old 6th December 2011, 20:15   #74
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Default re: The Forex Thread

Generally, the best place I always change currency, and this is more for the sake of convenience, is at the airport itself. Always ensure you change currency at prominent shops or banks.

As for Sri Lanka, as you get out of the customs area etc, you will find several forex counters. You can exchange with them and even pick up sim cards from shops present around. You need to have USD500 equivalent to get a visa or your credit card copy will do. Just keep this as a caution should they ask. I already had a one year visa, so no issues for me and even when my wife joined me, she was not asked anything.

But when returning from Colombo, be sure to convert your currency at the airport back into INR or USD. I saw a huge queue at the counter and was wondering what the fuss was all about. When I came to india and when to convert a load of USD, SGD and Lankan Currency, they said they dont accept Lankan currency. Have tried a bunch of places and no one takes it ;-(
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Old 7th December 2011, 10:57   #75
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So my only concern is to make sure that we can exchange INR in Malaysia and Singapore. We are going by package tour and we dont need to take a taxi.
Yes you definitely can exchange INR in both these countries without any hassles. Since you are on a package tour , taxi hassles are ruled out.


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What will be the difference of rate of exchange if done so in India and the respective countries.
The current exchange rate of a Malay Ringgit is close to 16 bucks and if you exchange here you might end up paying a buck or more on the exchange. Its the same with the SGD also, so its best you exchange there when it comes to bigger amounts.

Since your 1st stop is Malaysia, carry about 100 Ringgits for your food and your friends. Now depending on where you stay take a taxi to Jalan Bukit Bintang . I got the best exchange rate here at forex dealers place. This dealer was right outside Bintang Warisan hotel. It's pretty easy to find this place.



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What would be the ratio of spending in Malaysia and Singapore. For example if I plan to spend 50k how much for Malaysia and how much for Singapore.
Malaysia is like India, when it comes to bargaining. Check my post here , have listed the places where you could do shopping, bargain, get abused and still pick up stuff for cheap.

Singapore that ways doesn't give you much scope for bargaining. The only place I can think of is Bugis and Little India where window shopping is possible. So you spending would be a tad bit higher in Singapore.


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Since we are going by a tour operator we have to abide by the operators schedule. So will it be possible for us to exchange at the earliest after reaching each country.
No experience with these travel agents coz I have never used any such services. However I don't think it should be much of a problem to find 30 mins and get your currency exchanged.
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