good exchange rate for aussie dollars

[kevin301]

btw kevin, where did u get 1.0211? for amounts >50000 i see them selling at 1.0240

maybe the rate changed after I checked. Seems to be fluctuating a lot within the day.

 

[testwall]

Ok well I hope you get a good deal.
From your postings, I gather you seem to be "fixated" on avoiding the 0.125% bank draft fee. However I would advise you to look at the bigger picture.
Essentially you want to change an amount of A$ for the lowest possible S$ amount. No point to save the draft fee if you end up paying more in exchange rate or others. Usually inter-bank rates are very competitive to market rates. Don't think the money changer can beat them. For example, at 9:50am today I checked DBS OD sell rate is 1.0131 and Arcade Money Changer is 1.015
For $100k that's almost $200 bucks difference. The draft fee is only $100+
Kind of a no-brainer, really.

Money changers essentially work with cash. I don't know about you, but I wouldn't want to be carrying tens of thousands in cash into Australia. What if you lose just some of it? Is it worth the risk?

hi kevin, if i do change cash, im not planning to carry. im thinking of depositing the AUD into the ANZ account to get the free remittance over, since im using NAB or ANZ over there.

as for the TT demand draft u mentioned, im defintiely looking at it. DBS does offer the best rates across the board. problem is that its limited to 10k per draft. BTW, any idea if demand draft can deposit into a local bank account that deals with AUD, like the ANZ AUD account?

 

[kevin301]

hi kevin, if i do change cash, im not planning to carry. im thinking of depositing the AUD into the ANZ account to get the free remittance over, since im using NAB or ANZ over there.

as for the TT demand draft u mentioned, im defintiely looking at it. DBS does offer the best rates across the board. problem is that its limited to 10k per draft. BTW, any idea if demand draft can deposit into a local bank account that deals with AUD, like the ANZ AUD account?

You sure that the demand draft is limited to $10K? If so, why would they have a column showing rates for transactions > $50k?
I believe you would be able to deposit into a local bank account that accepts AUD. Not sure why you'd want to do that though. Why can't you bring the draft over to Australia and deposit it into the account there? Presumably you'd have the account over there in order to conduct your daily transactions.

 

[lunafan]

Money changer now $1.013
Online rates 1:1 now, just wait a bit more

 

[MrTheROCK]

Huat ah. Waiting for 0.999 and below

Sent from Xiaomi HM NOTE 1W using GAGT

 

[Lordzephyr9]

Spot just went to 0.9997. Arcade still selling at 1.01

 

[Lordzephyr9]

just came back from arcade, its 1.008 now. tonnes of people.

 

[kevin301]

just came back from arcade, its 1.008 now. tonnes of people.

i think all buying RM?

 

[dede1217]

just came back from arcade, its 1.008 now. tonnes of people.

not bad !!! wow cool !!!

 

[dede1217]

my friend said today is 1.009

 

[kevin301]

Exchange Rate info available at:

1) ARCADE

2) MUSTAFA

3) DBS

not much point to flood the thread with "today 1.xxx" and "what is the rate at ___?" unless trying to chiong post count.

 

[dede1217]

Exchange Rate info available at:

1) ARCADE

2) MUSTAFA

3) DBS

not much point to flood the thread with "today 1.xxx" and "what is the rate at ___?" unless trying to chiong post count.

my question to you would be , how accurate is the rate available on those website? real time ?

Point 1:
The rate shown is only from one store from arcade
this does not represent all the stores.
Hence you are using sample size 1 as a gauge for rates in arcade.
this does not represent the population

Point 2:
If people do not share what they seen from different places, then what is the use of this thread?

Point 3:
When people are sharing what they rates they are getting from people places, and they are being mentioned as chiong post count. May I know what benefits or incentives for people to chiong post ?

Point 4:
Not sure whether is it more useful to update people the rates at different places, or post comment like the following to increase their post.

"bad luck... I guess the rate is fluctuating quite rapidly these past few days."

"wah 20,000 is a lot of $ to change"

"waiting for 1.10... LOL"

"haha surprisingly going up."

Hope it helps

 

[lunafan]

Exchange Rate info available at:

1) ARCADE

2) MUSTAFA

3) DBS

not much point to flood the thread with "today 1.xxx" and "what is the rate at ___?" unless trying to chiong post count.

Not all money changer post their rates online and I can easily get much better rates at most money changer than the 3 websites' rate. Some money changer do give special rates if you change above certain amount so why not share this info?

 

[seanishere]

Hi all. Just wanting to know when I should change my $$. On wednesday I went to parkway's money changer and got a rate of 1.0110. And it looks like it could still be dropping. Pls advice!!

 

[kevin301]

my question to you would be , how accurate is the rate available on those website? real time ?

Point 1:
The rate shown is only from one store from arcade
this does not represent all the stores.
Hence you are using sample size 1 as a gauge for rates in arcade.
this does not represent the population

Point 2:
If people do not share what they seen from different places, then what is the use of this thread?

Point 3:
When people are sharing what they rates they are getting from people places, and they are being mentioned as chiong post count. May I know what benefits or incentives for people to chiong post ?

Point 4:
Not sure whether is it more useful to update people the rates at different places, or post comment like the following to increase their post.

"bad luck... I guess the rate is fluctuating quite rapidly these past few days."

"wah 20,000 is a lot of $ to change"

"waiting for 1.10... LOL"

"haha surprisingly going up."

Hope it helps

Hahaha yes I realize I'm terribly guilty of leading the thread astray as well...

I noticed quite a number of people kept asking similar "how much is the rate now?" kind of questions. Realistically the websites only give an indication of the current rate.
Even if you were to spot 0.995 at Arcade and post it here, for example, doesn't mean if I go down 2 hours later I can get that exact rate, or that the stock would not have run out.

So my point is that posting the spot rate is kind of meaningless in any case. Certainly no better than checking online at Arcade Money Changers for an indicative rate.

Oh well, anyway will just let the thread take its natural course.

 

[kevin301]

Not all money changer post their rates online and I can easily get much better rates at most money changer than the 3 websites' rate. Some money changer do give special rates if you change above certain amount so why not share this info?

I don't know about most of the folks here, but even if you were to post that you got 0.995 at Shop A this afternoon at 10am, I wouldn't rush down there expecting to get the exact same rate.

Essentially whatever observation someone makes is as 'inaccurate' as checking the website for indicative rates. Depends on individual bargaining power to get the best possible rate at that point in time.

If you wanna share that certain money changers tend to give better rates consistently, I think that's great info for all.

 

[kevin301]

Hi all. Just wanting to know when I should change my $$. On wednesday I went to parkway's money changer and got a rate of 1.0110. And it looks like it could still be dropping. Pls advice!!

AUD is moving quite a bit these couple of weeks. Hard to say. Even a Forex expert may be reluctant to predict. Generally from what I've read, AUD is on a downward trend. How low is anyone's guess.
If you are travelling to Aust soon, I suggest just get a reasonably good rate and then don't think about it any more. Does you no good.

 

[lunafan]

I don't know about most of the folks here, but even if you were to post that you got 0.995 at Shop A this afternoon at 10am, I wouldn't rush down there expecting to get the exact same rate.

Essentially whatever observation someone makes is as 'inaccurate' as checking the website for indicative rates. Depends on individual bargaining power to get the best possible rate at that point in time.

If you wanna share that certain money changers tend to give better rates consistently, I think that's great info for all.

One other purpose for sharing "I got xxx rate from Shop A today" is for reference. I agree with you that we can't expect to get the same rates but at least we would know how much the rate drifted since that particular time as compared to spot rates and gauge for ourselves whether it is worth it to change.

Some money changers might increase their spread and earn extra. We consumers need to increase our information sharing so that they cannot take advantage of us

 

[kevin301]

One other purpose for sharing "I got xxx rate from Shop A today" is for reference. I agree with you that we can't expect to get the same rates but at least we would know how much the rate drifted since that particular time as compared to spot rates and gauge for ourselves whether it is worth it to change.

Some money changers might increase their spread and earn extra. We consumers need to increase our information sharing so that they cannot take advantage of us

Ok, that does make sense

 

[sendohadr]

now 1.005 at arcade...super low