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Question 1 You have just landed in Thailand for a holiday at Suvarnabhumi International Airport. Answer saved Marked out of After passing through immigration, despite knowing that the FX dealers at the airport give the worst rates, you need to exchange 2.00 some AUD into Thai Baht (THB) to take the BTS SkyTrain into downtown Bankgok. \\ Flag question You decide to exchange half of the AUD $1,000 you have brought and so check the AUD/THB rate at two FX dealer kiosks in front you: Siam Commercial Bank: SCB CURRENCY EXCHANGE RATES Lastest FX Rates Currency Calculator Credit Card (DCC) Historical FX Rates 21/05/2018 All Currencies View May 21, 2018 17:24 Unit : Thai BahtLastest FX Rates Currency Calculator Credit Card (DCC) Historical FX Rates 21/05/2018 All Currencies View May 21, 2018 17:24 Unit : Thai Baht Time Round : 08:12 09:42 10:14 13:23 17:24 Bank Selling Rates Bank Buying Rates Foreign Currencies D/D & T/T Notes TT Export Sight Bill T/Chqs. & Chqs. Notes US DOLLAR $50-$100 USD 32.38 32.5 32.08 31.98 31.88 31.8 US DOLLAR $5-$20 USD1 32.38 32.43 32.08 31.98 31.88 31.32 US DOLLAR $1-$2 USD2 32.38 32.41 32.08 31.98 31.88 30.96 EURO EUR 38.2175 38.39375 37.47375 37.38375 37.25375 37.18625 BRITISH POUND STERLING GBP 43.75625 44.07875 42.6825 42.4325 42.2825 42.18 JAPANESE YEN:100 JPY 29.4 29.64 28.475 28.355 28.255 28.23 SINGAPORE DOLLAR SGD 24.29125 24.38625 23.67375 23.58375 23.51375 23.4025 HONG KONG DOLLAR HKD 4.16375 4.235 4.05875 4.02875 3.99875 3.96095 KOREAN WON KRW 0.034 0.0265 SWISS FRANC CHE 32.585 32.74375 31.9 31.8 31.71 31.38875 AUSTRALIAN DOLLAR AUD 24.73375 25.06 23.76375 23.66375 23.59375 23.39875 MALAYSIAN RINGGIT MYR 8.3 7.55 SOUTH AFRICAN RAND ZAR 2.95 SWEDISH KRONA SEK 3.7175 3.7525 3.6475 3.5975 3.5775 3.49875 CANADIAN DOLLAR CAD 25.40125 25.465 24.75 24.62 24.54 24.19875 DANISH KRONE DKK 5.12625 5.165 5.04125 5.01125 4.98625 4.82625 NORWEGIAN KRONE NOK 4.0175 4.055 3.9325 3.9125 3.8925 3.7525 NEWZEALAND DOLLAR NZD 22.60375 23.15 21.85875 21.73875 21.67875 21.71875 INDIAN RUPEE INR 0.51 CHINESE YUAN CNY 5.1725 5.22675 4.97875 4.93375 4.93375 4.65625 PHILIPPINE PESO PHP 0.79 0.5 TAIWAN DOLLAR TWD 1.15 0.95 BAHRAINI DINAR BHD 88.93 61.75 SAUDI ARABIAN RIYAL SAR 9.4 INDONESIAN RUPIAH IDR 0.00241 0.0030 0.00209 0.00198 0.00198 0.0019 UAE DIRHAM AED 9.47 7.11 OMANI RIAL OMR 87.18 60.88 BRUNEI DOLLAR BND 24.25 22.9 RUSSIAN RUBLE RUB 0.7 0.38 VIETNAMESE DONG VND 0.0018 0.0011Bangkok Bank Personal Banking Business Banking About Bangkok Bank Investor Relations Bangkok Bank > Personal Banking > Currency Exchange Currency Exchange Foreign Exchange Rates Graph Notes & Drafts Date Update Travelers' Cheques C Refresh 21 May 2018 31 2: 12:40 GO PrintCurrency Description Bank Note Buying Rates Selling Rates Buying Rates Selling Rates Sight Bill TT Bill-DD-TT USD1 USD: 1-2 31.05 32.35 USD5 USD: 5-20 31.40 32.40 USD50 USD: 50-100 31.80 32.40 31.97 32.07 32.37 1 GBP United Kingdom 42.37 44.09 42.81250 42.92500 43.78250 O EUR Euro Zone 37.21 38.37 37.39750 37.48750 38.21500 JPY Japan (:100) 28.35 29.49 28.55250 28.62000 29.38750 HKD Hong Kong 4.00 4.17 4.06250 4.07750 4.13250 OMYR Malaysia 7.60 8.22 7.95750 8.00250 8.21500 SGD Singapore 23.52 24.32 23.64500 23.71000 24.22000 BND Brunei 22.98 24.02 ONY China 4.77 5.11 4.94250 4.98750 5.09500 IDR Indonesia (:1000) 1.91 2.37 2.15275 2.18085 2.36250 MMK Myanmar (:100) 2.42500 INR India: 50-1000 0.49500 KRW Korea 0.0270 0.0321 LAK Laos (:1000) 3.52 3.98 PHP Philippines 0.49 0.65 0.63000 TWD Taiwan 0.95 1.10 AUD Australia 23.53 24.86 23.78750 23.86000 24.55500 NZD New Zealand 21.81 23.06 21.93000 22.00000 22.53000 + CHF Switzerland 31.35 32.69 31.79250 31.89250 32.58250 DKK Denmark 4.84 5.16 5.01750 5.03250 5.13500Sorting through all the different currency rates is a challenge and after a while you find the the Australian Exchange rates for both Bangkok Bank and Siam Commerical Bank. There are also different rates for different ways you can do foreign exchange: D/D: Direct Debit, TT: Telegraphic Transfer (both electronic forms of FX between bank accounts that you does not apply to you as you have bank notes to change) Export Sight Bills: For international trade (not relevant to you a tourist), T/Chqs: Travelers Cheques (not relevant as you have bank notes) The appropriate rates are for Bank notes exchange and these two banks provider dealer bid and asks. The appropriate FX rates for Aussie Dollar - Thai Baht are: Siam Commercial Bank: Bid (Buying) 23.39875 + / Ask (Selling) 25.06 Bangkok Bank: Bid (Buying) 23.53 / Ask (Selling) 24.86 THB is the Term * currency and AUD is the Commodity * currency. (hint: do market research to find out which is the stronger currency, the AUD or THB, to identify clearly which is commodity and term. The banks do not express their retail rates in the standard wholesale, inter-bank format of AUD/USD or EUR/US as you have seen in Yahoo finance and Reuters FX quotes.)Continuing 01(3) You have AUD to exchange into THB. You are selling the commodity and the dealer will buyr the commodity from you. So you will be comparing the AUDITHB Bid : rates of both banks. As a seller of the commodity, you will choose the dealer that buys the commodity from you at the highest : rate. You will choose Bangkok Bank c to transact with. Continuing from Qtfc)... You are exchanging half of the ADD $1,000 you have brought with you, how much THB will you receive? {enter you answer as an integer (mote number) oni'y withom units or, ). Answer: 11765