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Exchange LAK for USD

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Exchange LAK for USD

Postby ReasonstobefearfulP3 » Wed Oct 10, 2018 9:03 pm

I have some left over laos kip from a recent trip. Exchange rate at the airport was shocking so i fetched it home.

If anyone has a trip to laos coming up i have roughly $70 to exchange for usd (595,000)

Based in PP

its worth $69.80 at todays mid rate, $70 is a fair price for all involved. If not i can keep for my next trip to laos

Thanks
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Re: Exchange LAK for USD

Postby patcan » Wed Oct 10, 2018 9:54 pm

You want more than what is worth in Cambodia? If you said 60$ you might get a bote but I doubt it..
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Re: Exchange LAK for USD

Postby ReasonstobefearfulP3 » Wed Oct 10, 2018 10:06 pm

patcan wrote:You want more than what is worth in Cambodia? If you said 60$ you might get a bote but I doubt it..


If someone tried to get LAK in cambodia they wouldnt get 595k for 70$.

Best of both worlds. Like i said, i am not desperate for the money and not gonna take a loss, if someone needs some rather than changing in laos (where they also wont get as good of a rate) they can contact me
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Re: Exchange LAK for USD

Postby kansaicanuck » Wed Oct 10, 2018 11:28 pm

ReasonstobefearfulP3 wrote:
patcan wrote:You want more than what is worth in Cambodia? If you said 60$ you might get a bote but I doubt it..


If someone tried to get LAK in cambodia they wouldnt get 595k for 70$.

Best of both worlds. Like i said, i am not desperate for the money and not gonna take a loss, if someone needs some rather than changing in laos (where they also wont get as good of a rate) they can contact me


Have you tried to change it anywhere other than the airport? Many of the money changers around the markets in town have exceptionally good rates for all sorts of currency.
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Re: Exchange LAK for USD

Postby GMJS-440 » Thu Oct 11, 2018 1:26 am

I used to go to Ly hour, they have multiple locations and good rates
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Re: Exchange LAK for USD

Postby GMJS-440 » Thu Oct 11, 2018 1:31 am

Edit: I went to some money exchange near Russian Market and the lady was giving me terrible rate on HK Dollar. That was when I first started using Ly Hour after it was recommended by a work colleague and it saved me $10.

They have rates posted on electronic boards
http://www.lyhourgroup.com/ly-hour-exch ... h-network/

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Re: Exchange LAK for USD

Postby ផោមក្លិនស្អុយ » Thu Oct 11, 2018 4:11 am

In acleda today you’ll get 593,102.02 Kip for $70.

Why you think someone would do a higher risk, private purchase from an internet stranger for pretty much the same price is beyond me.
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Re: Exchange LAK for USD

Postby horace » Thu Oct 11, 2018 6:34 am

I have never left a country with anything but very small change in the local currency. If I have any large notes left I usually go on a final goodbye bender or a slap up meal.
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Re: Exchange LAK for USD

Postby slavedog » Thu Oct 11, 2018 6:57 am

If you think you're going back one day, why bother changing such a small amount?

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Re: Exchange LAK for USD

Postby gavinmac » Thu Oct 11, 2018 7:12 am

slavedog wrote:If you think you're going back one day, why bother changing such a small amount?

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He can't buy seventy $1 draft beers in Cambodia with Lao Kip.

He'd be smart to change it, I've brought back money from trips overseas and then returned with it to the foreign country a few years later only to be told that my old money had been was no longer usable. Like English 5 pound notes, for example.
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Re: Exchange LAK for USD

Postby ReasonstobefearfulP3 » Thu Oct 11, 2018 9:02 am

gavinmac wrote:
slavedog wrote:If you think you're going back one day, why bother changing such a small amount?

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He can't buy seventy $1 draft beers in Cambodia with Lao Kip.

He'd be smart to change it, I've brought back money from trips overseas and then returned with it to the foreign country a few years later only to be told that my old money had been was no longer usable. Like English 5 pound notes, for example.


Or 140 50c beers :cheers2:
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Re: Exchange LAK for USD

Postby ReasonstobefearfulP3 » Thu Oct 11, 2018 9:37 am

ផោមក្លិនស្អុយ wrote:In acleda today you’ll get 593,102.02 Kip for $70.

Why you think someone would do a higher risk, private purchase from an internet stranger for pretty much the same price is beyond me.



Yeah just seen that rate. Maybe the rate I am offering is not that good...

Oh well, looks like I will keep it until I go back.

For anyone interested, the rate above is correct on the internet. However, changing back you would get $53 back.

Strange that the buy is so close to the spot rate but the sell is far away. I am sure normally they do a number of points either way
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Re: Exchange LAK for USD

Postby gavinmac » Thu Oct 11, 2018 11:02 am

ReasonstobefearfulP3 wrote:Oh well, looks like I will keep it until I go back.



If only there were places in Phnom Penh a guy could go to in order to change one type of currency into another.
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Re: Exchange LAK for USD

Postby kansaicanuck » Thu Oct 11, 2018 11:41 am

gavinmac wrote:
ReasonstobefearfulP3 wrote:Oh well, looks like I will keep it until I go back.



If only there were places in Phnom Penh a guy could go to in order to change one type of currency into another.


If only a few of us would cough up our secrets...

By the way, what were you able to do with your five pound notes? Could you just bring them into any bank and have them Exchanged? I had to do something similar when they changed the 500 yen coins in Japan. They didn't work in any of the 200 million vending machines, ticket machines ect so I had to take a bag of them to the bank and get all new ones. Also same deal with the 2000 yen notes now that I remember.
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Re: Exchange LAK for USD

Postby ReasonstobefearfulP3 » Thu Oct 11, 2018 11:59 am

kansaicanuck wrote:If only a few of us would cough up our secrets...

By the way, what were you able to do with your five pound notes? Could you just bring them into any bank and have them Exchanged? I had to do something similar when they changed the 500 yen coins in Japan. They didn't work in any of the 200 million vending machines, ticket machines ect so I had to take a bag of them to the bank and get all new ones. Also same deal with the 2000 yen notes now that I remember.



Yes, take them to any bank and change for new ones. Sometimes the banks would be a little funny if you either had too many or you didn't bank with them, but they would do it eventually. Pain in the arse if that is the only money you have when you touch down.


gavinmac wrote:
ReasonstobefearfulP3 wrote:Oh well, looks like I will keep it until I go back.


If only there were places in Phnom Penh a guy could go to in order to change one type of currency into another.


Finding somewhere to change the currency is not an issue, finding somewhere with a good rate is. I will check out Ly Hour as someone mentioned above but I don't fancy taking a 20% hit on an exchange rate as I would have to do with Acleda

If only there was a place in Phnom Penh where expats could converse and help each other out once in a while...
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