THB/HKD Exchange Rates and Providers Compared
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for THB/HKD International Money Transfers. Costs are calculated against the current interbank mid-rate.
THB to HKD International Money Transfers
|Foreign Transfer Providers||Receive HKD(HK$)||Exchange Rate||Fee THB||Total Cost||Deal Links|
|Your amount above the WorldRemit THB2000 maximum|
|WorldRemit: Foreign Transfer THB→HKD|
|From Amount (THB)||฿10,000|
|Transfer Speed:||1 day|
|Services:||Bank Transfers & Cash Pickup - Online only|
THB and HKD in the Markets
When determining the best time to make a foreign exchange transaction, in this case the THB vs HKD, you should pay attention to the recent market trends for both currencies.
Thai Baht (THB)
Recent years have been extremely kind to the baht and 2019 has been no exception. Approaching mid-year, the baht rose to a 6-year high against the US dollar (฿30.66) and to a 10-year high against the Australian dollar (฿21.35), as well as to long-term highs against a host of other major currencies.
The baht is being supported by Thailand’s large current-account surplus and has benefited from speculation that Thai stocks will soon be assigned a larger weighting in the MSCI Emerging Markets index, which would result in significant amounts of foreign capital entering Thailand.
The team at TradingEconomics.com is expecting slight baht weakness over the coming year, with June-2020 forecasts for USD/THB and AUD/THB of 32 and 22 respectively.
Hong Kong Dollar (HKD)
The Hong Kong dollar has gained value in 2019 despite the recent protests and also serious escalation in US-China trade tensions, mainly because the US dollar, to which HKD is pegged, is attracting safe-haven inflows. By May-17, against a basket of important currencies, HKD was worth 2 percent more year-to-date, and was only 0.5 percent away from making a 2-year high.
HKD was doing particularly well against the Australian dollar. It was, at the time of writing, valued 18 percent higher than 2018 lows against AUD and needed only a further 2.3 percent to reach a 10-year high. Though HKD was meeting significant resistance in mid-May at the 5.4 per AUD level, a break of this could spark significant appreciation.
Read more in the article HKD Forecasts.
Why can't I just get the THB/HKD market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the THB / HKD was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
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