There is currently a big spread between the OFFSHORE and ONSHORE currency price points of the Thai Baht as it relates with the USD.if you bring $10,000 USD into Thailand and convert it into Thai Baht, they will give you a good transfer rate of 33.5 THB per every 1 USD… Therefore, you will get 335,000 Thai Baht. This is a fact, I know this to be sure 100%. Of course, it’s been fluctuation between 33 and 34 for the past several weeks.

Then in theory, If you bring the 335,000 THB back into the USA and convert it into USD, they *SHOULD* buy back the Thai baht at a rate of $1 USD for every 29 THB. So… 335,000 / 29 = 11,551. You SHOULD get back $11,551 USD, essentially profiting $1,551 for simply roundtriping the currency. 
 
The onshore THB/USD exchange rate is around 33.5 plus or minus. The offshore THB/USD exchange rate is around 29 plus or minus.
 
I am NOT 100% sure what rate the US bank will give you when purchasing the Thai Baht and converting it into USD, you might have to shop around and secure a good rate beforehand.
 
But I do know that there’s currently a big spread between the onshore and offshore price points of the Thai Baht. So if you play your cards right, you just might be able to earn a free trip out to Thailand.

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This entry was posted on Wednesday, December 12th, 2007 at 2:26 amand is filed under Innovation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.