Philippines Thailand Money Matters
Philippines Thailand money matters are quite simple. Exchanging foreign money in the Philippines and Thailand is very easy but there are a few things you should know before going to either country and spending your hard earned US Dollars, Euros or floundering British Pounds. Here's some great Philippines Thailand money saving tips to consider when living or visiting Philippines or Thailand. During the last couple years between 2014 and 2016 the two currencies, the Philippine Peso in the Philippines and the Thai Baht in Thailand have fluctuated and lost probably 10% of their value. Just a couple years ago the US dollar was steady at around 30 to 31 baht per dollar but has since gone as high as 36 to 1. In the Philippines the Peso has gone from around 43 to 44 to beyond 47 pesos per US Dollar. This makes both countries even more appealing at publishing of July 2016. Personally I would invest in the some Asian currencies at this point as you could easily make 10% on your money or more.
First, never change any money in your home country to Philippines Pesos or Thai Baht. You will get creamed on the bank exchange rate in your home country. It's better to change say $100 USD at the airport when you land in either Bangkok or Manila. Then go to the money changers found everywhere throughout the countries hunting for the best rates. You can find some really good rates on the streets in Bangkok, Pattaya, Angeles City and Manila. You just need to look and generally you can save yourself about 1 or 2% doing this. This adds up if you are going through a lot of money so knowing where to change up money is very important. I'll write down a couple of spots in Angeles City and Pattaya for now but add some others in Bangkok and Manila later. Personally I carry a lot of USD dollars when traveling as you never know when they might be needed. I hide these in various spots in the hotel room safe and also in my luggage. A spare $100 bill is also stuffed in my wallet just in case too.
In the Philippines, it doesn't matter which denomination of US dollar you exchange as it's all the same rate. In Thailand however, only change $100 dollar bills and $50 dollar bills. Anything less yields you must lower rates. If you plan on extended stays in either country, consider exchanging $1000 USD at a time. This is basically the always bring cash method of travel. I personally think it's prudent to carry at least $5,000 USD in cash in various foreign denominations. Unfortunately the UK pound of late has taken a dive but I keep $1000 quid just in case. The rest I carry in a travel satchel is in USD Dollars, Thai Baht and Philippines pesos. The Philippines has a stupid law which only allows 10,000 Philippine Pesos maximum. Thailand has a law stating you may carry up to 50,000 Thai Baht out of in the country. Both countries allow you to carry up to $10,000 USD. I also carry a gold necklace which weighs 30 grams for the ultimate backup. Gold is universal and can be liquidated immediately and is perfectly legal to carry in the jewelry form. Transporting gold bullion or bars is illegal in most countries and is not advised as they can be confiscated at the airport if found.
Philippines Thailand Money Matters - Exchange Rate Comparisons
Philippines Thailand money surprisingly enough the Philippines and Thailand have had pretty steady currencies the last 6 or 7 years. The Australian dollar has taken a huge hit the last few years from bring parity with the US dollar to something like $0.65-70 cents. As of the typing of this article, the UK pound has taken a major dive from the USD dollar going from around 1.65 to 1.30. The UK Pound against the Philippines Pesos and the Thai Baht remains pretty steady although it's gone down a good 10 to 12%. The US Dollar is the king of the block in Asia these days at rates close to 47 to 1 to the Philippines Pesos and 36 to 1 to the Thai Baht. as of July 2016. We'll see how it goes and only time shall tell the real story. Best to always have some money in gold as it's the only true currency that has proven the test of time.
Philippines Thailand Money Matters - Live Exchange Rate Charts
Here are live real time foreign exchange calculators for both the Philippines Peso and the Thai Baht. Just change to your currency to see the current exchange rate
Philippines Pesos Exchange Rates
Thailand Baht Exchange Rates
Philippines Thailand Money Don't Leave Home Without It
Good Philippines Thailand money matters tips are hard to come by but this site shall continue to add the best tried and true methods of saving money and beating the banks with smart money spending habits and methods designed to keep you one step ahead of the governments and the banks. Best of all it's perfectly legal and just boils down to good money management. The last place a foreigner wants to be is in the Philippines or Thailand without any money. Then you are open for serious exploitation by foreigners and locals alike. It is not recommended attempting to live in the Philippines or Thailand without a sufficient bank roll. A retiree can live OK on their pension checks but frugality is needed in every facet of life. This is actual quite simple by changing your lifestyle slightly and living smarter. I shall outline many ways of saving money immediately and over the long haul. Sometimes it's worth investing in certain things to avoid long term costs.
Another excellent tip if you make frequent trips to the Philippines Thailand or abroad in general is have friends at home who travel as well as well as friends living in abroad. You can do what's known as cash swaps avoiding the banks entirely. This can complicated or very simple. For example, use your credit card at a friends establishment and get the cash. If he's a friend he'll do it for nothing. There are many other variations of this I shall deal with at a later date.