THB/INR Exchange Rates and Providers Compared
Looking for INR travel money? Then it is important to note that the Indian Rupee is a closed currency. Which means that it is more difficult (but not impossible) to purchase the currency before departure and may need to buy it upon arrival. For more information and a full list of closed currencies read our guide: What is a closed currency?
A good solution for closed currencies is to use a pre-paid travel card to avoid carrying large amounts of cash and also minimise ATM fees. Compare Travel Cards
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/INR International Money Transfers. Costs are calculated against the current interbank mid-rate.
THB to INR International Money Transfers
|Foreign Transfer Providers||Receive INR(₹)||Exchange Rate||Fee THB||Total Cost||Deal Links|
|Your amount above the WorldRemit THB2000 maximum|
|WorldRemit: Foreign Transfer THB→INR|
|From Amount (THB)||฿10,000|
|Transfer Speed:||1 day|
|Services:||Bank Transfers & Cash Pickup - Online only|
THB and INR in the Markets
When determining the best time to make a foreign exchange transaction, in this case the THB vs INR, 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.
Indian Rupee (INR)
The rupee is doing remarkably well in what is normally a seasonally weak time of year and despite a 35 percent rise in the oil price this year (oil is India's largest import).
In early May, by the narrowest of margins, the rupee reached a 16-month high against the Australian dollar (₹48.4), before falling back slightly. It rose towards long-term highs against the euro (₹77.3) and was flat on the year against the US dollar (₹69.2), although it was 8 percent higher against the greenback than it had been in October of last year.
Read more in the article INR Forecasts.
Why can't I just get the THB/INR 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 / INR 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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