Should US dollars be kept and used instead of local currencies in Thailand/Malaysia
Is this a better idea to exchange or spend USD during a trip in Thailand/Malaysia rather then using the local currency?
This also applies because sometimes the vendors ask if you want to be charged with USD or the local currency. What difference does it make? Which currency should be preferred?
Best Answer
Without talking about credit card transactions as comments pretty much covered that subject, i personnally prefer to have my trip budget in cash (no suprises, no hidden cost, but you have a shitload of cash on you) and change everything to local currency at the airport (weirdly not always the best rate). I've been to thailand and it's almost the same everywhere : most of the time, vendors offer to charge in USD (or euros in my case) to jack up the price, either by rounding it up, displaying an incorrect conversion rate, or (and i've seen this a lot) just blatantly charge way more. It may seem convenient but it usually isn't the best idea.
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Can USD be used in Thailand?
Do they accept US dollars in Thailand? Yes, you can US Dollars in Thailand. As we have explained above, it will be cheaper for you to buy USD instead of Thai Baht.How do I get the best exchange rate in Thailand?
Money exchange kiosks offer better rates than banks and can save you over 90% on exchange fees and cost you as little as 0.05% of the transaction amount. When changing USD to Baht, the best rate is given for $50 or $100 bills. Smaller bills get slightly lower rates.What is the monetary system in Thailand?
baht, monetary unit of Thailand. Each baht is subdivided into 100 satang. The Bank of Thailand has the exclusive authority to issue currency in Thailand; banknotes are issued in amounts ranging from 10 to 1,000 baht.In which trade two or more currencies are used?
Forex markets are used to trade exchange rates between two or more national currencies. All trading within the forex market, whether selling, buying, or trading, will take place through currency pairs.Imports, Exports, and Exchange Rates: Crash Course Economics #15
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