Exchange Rate

[Vegitto]

Today arcade 23.1

Fug MAS

 

[dede1217]

Today arcade 23.1

Fug MAS

getting lower n lower
luckily changed 2 wks back ...

 

[kevin301]

Today arcade 23.1

Fug MAS

Well, MAS didn't come out with the announcement on the monetary policy to intentionally sabo you.
It's just unfortunate I guess...
It will help those companies exporting from SG, else we might see more retrenchment etc. By then even if S$1 = NT$30, also no use, as nobody would have $ to travel.

 

[tomatolander]

Have been monitoring this thread. First post here!

I find it puzzling. The TWD rates has dropped and even the Taiwan bank is showing an exchange rate of 23.42 online now. But why is our local money changers' rate still so low in Singapore? Are they controlling the rates?

 

[kevin301]

Have been monitoring this thread. First post here!

I find it puzzling. The TWD rates has dropped and even the Taiwan bank is showing an exchange rate of 23.42 online now. But why is our local money changers' rate still so low in Singapore? Are they controlling the rates?

When you say "so low", what rate is so low to you?
Local rate is about 23.
The rate in Taiwan is about 23.4 (according to you).
That's about a 1.7% difference, which is quite small, really.

To put it in perspective, if I change AUD at the money changer in Singapore, I pay S$1.05+ for A$1.
If I change in Australia today, I'd be paying about $1.13 for A$1. That's a much bigger difference than 1.7%
It's just market forces at work. Maybe TW govt imposes lower fees for Forex, etc. Or demand for SGD is high over in TW.

 

[tomatolander]

When you say "so low", what rate is so low to you?
Local rate is about 23.
The rate in Taiwan is about 23.4 (according to you).
That's about a 1.7% difference, which is quite small, really.

To put it in perspective, if I change AUD at the money changer in Singapore, I pay S$1.05+ for A$1.
If I change in Australia today, I'd be paying about $1.13 for A$1. That's a much bigger difference than 1.7%
It's just market forces at work. Maybe TW govt imposes lower fees for Forex, etc. Or demand for SGD is high over in TW.

Well, I have been monitoring the rates both in Taiwan and in Singapore for awhile. Usually there is little difference between the Taiwan bank and Singapore exchange rate. For i.e. if Taiwan exchange rate shows 23.4, the Singapore exchange rate should be 23.5 there around. I have not seen a 0.4 rate difference before. 0.4 can make quite a difference if we are exchanging more money. Right now, the online exchange rate for SGD/TWD is around 23.9X. So I'm just being curious why is the Singapore money changer's rate still hovering around 22.X to 23 only.

So for people going to Taiwan in the next few days, it might be more worth it to change in Taiwan compared to Singapore for now. At least can afford maybe 10 more 鸡排 and bubble tea!

 

[calkel20]

Well, I have been monitoring the rates both in Taiwan and in Singapore for awhile. Usually there is little difference between the Taiwan bank and Singapore exchange rate. For i.e. if Taiwan exchange rate shows 23.4, the Singapore exchange rate should be 23.5 there around. I have not seen a 0.4 rate difference before. 0.4 can make quite a difference if we are exchanging more money. Right now, the online exchange rate for SGD/TWD is around 23.9X. So I'm just being curious why is the Singapore money changer's rate still hovering around 22.X to 23 only.

So for people going to Taiwan in the next few days, it might be more worth it to change in Taiwan compared to Singapore for now. At least can afford maybe 10 more 鸡排 and bubble tea!

Where did u get your 23.9 from?

 

[kevin301]

Well, I have been monitoring the rates both in Taiwan and in Singapore for awhile. Usually there is little difference between the Taiwan bank and Singapore exchange rate. For i.e. if Taiwan exchange rate shows 23.4, the Singapore exchange rate should be 23.5 there around. I have not seen a 0.4 rate difference before. 0.4 can make quite a difference if we are exchanging more money. Right now, the online exchange rate for SGD/TWD is around 23.9X. So I'm just being curious why is the Singapore money changer's rate still hovering around 22.X to 23 only.

So for people going to Taiwan in the next few days, it might be more worth it to change in Taiwan compared to Singapore for now. At least can afford maybe 10 more 鸡排 and bubble tea!

I've observed the difference to be more than just 0.1 or 0.2, and as I stated before that can be down to a number of factors.
I used the example of money changers in Australia to highlight that this difference isn't really that huge.

So if you want to get the best rate possible, it pays to do some research 10 more 鸡排 and bubble tea does sound like a lot!

 

[keywin]

any idea on what's the arcade rates today??

 

[dorae178]

Dbs taiwan rate today around 11am was 23.73, went to the 599 九如二路 branch in kaoshiung. Their branches are not as accessible as singapore's, so be prepared if u want to change at dbs taiwan. There is also a 1% (of the amount u change) admin fee now

 

[calkel20]

Dbs taiwan rate today around 11am was 23.73, went to the 599 九如二路 branch in kaoshiung. Their branches are not as accessible as singapore's, so be prepared if u want to change at dbs taiwan. There is also a 1% (of the amount u change) admin fee now

1% or min 100ntd which ever is higher.

 

[xtwis7]

JEM's rate so cui, 22.5

 

[calkel20]

JEM's rate so cui, 22.5

Jurong point has the best rate in the west.
JEM... Is meh.

 

[lazy999]

anyone can share wat is the arcade rate today? Or anyone in taipei now? Hw the rate there?

Sighz i flying over in 2 wk times. Last wk i should change some before mas news came out.

 

[calkel20]

anyone can share wat is the arcade rate today? Or anyone in taipei now? Hw the rate there?

Sighz i flying over in 2 wk times. Last wk i should change some before mas news came out.

http://rate.bot.com.tw/Pages/Static/UIP003.en-US.htm

 

[jacques.jiean]

anyone can share wat is the arcade rate today? Or anyone in taipei now? Hw the rate there?

Sighz i flying over in 2 wk times. Last wk i should change some before mas news came out.

i think it has recovered since the online rate hit 24 again. DBS taiwan is 23.82 now.

 

[rayban]

i think it has recovered since the online rate hit 24 again. DBS taiwan is 23.82 now.

since singapore dollar is stagnant for now, it just mean taiwan dollar drop further ba

 

[calkel20]

i think it has recovered since the online rate hit 24 again. DBS taiwan is 23.82 now.

23.966 now but of course still need to deduct about 0.24 from it.
So come up to 23.726ntd

 

[WhiteAnt]

so high suddenly 24???

I thought news say mas is trying to control and devalue the currency

 

[Upzzzz]

I think USD drop. But thing is, is there still a shortage of NT in Singapore?

so high suddenly 24???

I thought news say mas is trying to control and devalue the currency