Money Changer

[Crapmansyah84]

Hi all, just need some help with money exchange rates. I changed SGD909 earlier for AUD900. Exchange rate at money changer listed as 1.01 "We Sell". Is that correct? Is the AUD currently bigger than SGD at the moment?

 

[Clone_]

money changers will always charge you higher than the rate you see online

 

[JuniorLion]

Hi all, just need some help with money exchange rates. I changed SGD909 earlier for AUD900. Exchange rate at money changer listed as 1.01 "We Sell". Is that correct? Is the AUD currently bigger than SGD at the moment?

money changers will always charge you higher than the rate you see online

Your question is answered.

You don't get spot rate when you change at a physical money changer.

 

[Crapmansyah84]

Your question is answered.

You don't get spot rate when you change at a physical money changer.

But it was listed on their board as 1.01. Not online rates.

 

[Clone_]

But it was listed on their board as 1.01. Not online rates.

That means they're selling you 1 AUD at 1.01 SGD
900 * 1.01 = 909 SGD for 900 AUD

 

[Crapmansyah84]

That means they're selling you 1 AUD at 1.01 SGD
900 * 1.01 = 909 SGD for 900 AUD

Ok so if RM rate was 2.965? Under the same we sell columm

 

[pcmdan]

Ok so if RM rate was 2.965? Under the same we sell columm

Always when u are exchanging currencies, look at the sell

If it is showing 2.965 meaning, for every
1sgd = 2.965myr

Only look at the buy if u are changing back to local ccy

 

[Crapmansyah84]

Always when u are exchanging currencies, look at the sell

If it is showing 2.965 meaning, for every
1sgd = 2.965myr

Only look at the buy if u are changing back to local ccy

Yup thats where i got confused. If AUD it stated 1.01.. does it not mean when i changed sgd900, will be aud909? Instead of the other way round?

 

[yoongmy]

Yup thats where i got confused. If AUD it stated 1.01.. does it not mean when i changed sgd900, will be aud909? Instead of the other way round?

Yup, if you see the rate from the sell column is more than 1 means the country currency is lower than SGD. 1.01,you can get 909AUD for 900SGD exchange.

 

[Crapmansyah84]

Yup, if you see the rate from the sell column is more than 1 means the country currency is lower than SGD. 1.01,you can get 909AUD for 900SGD exchange.

Wow thanks for clearing things up. Guess you cant really trust some money changers. They listed as AUD1.01 under we sell, but when i passed him SGD900, he said to pass another SGD9 to get AUD900.

 

[henrylbh]

Yup thats where i got confused. If AUD it stated 1.01.. does it not mean when i changed sgd900, will be aud909? Instead of the other way round?

If you changing SGD to FCY and confused, then convert both and see which one give you lesser FCY. That's the one

 

[rrr2015]

money changers don't have small foreign denominations … hence usually ask you to topup so that foreign currency is in tenths or hundredth etc

you can always request to change aud800

Wow thanks for clearing things up. Guess you cant really trust some money changers. They listed as AUD1.01 under we sell, but when i passed him SGD900, he said to pass another SGD9 to get AUD900.

 

[chopra]

quite confusing when it's parity.

so i normally look at other familiar currencies. hope it helps

 

[chopra]

If you changing SGD to FCY and confused, then convert both and see which one give you lesser FCY. That's the one

i normally use this method too. cheers.

 

[havetheveryfun]

Hi all, just need some help with money exchange rates. I changed SGD909 earlier for AUD900. Exchange rate at money changer listed as 1.01 "We Sell". Is that correct? Is the AUD currently bigger than SGD at the moment?

At times, some of the money changers are quite stinky

sometimes they have different rates for different amounts u change, e.g if less than $100 is X rate, between $100 to $300 is another rate, and so on. Then the rates they put up on the board is always the best one.

 

[Shiny Things]

Hi all, just need some help with money exchange rates. I changed SGD909 earlier for AUD900. Exchange rate at money changer listed as 1.01 "We Sell". Is that correct? Is the AUD currently bigger than SGD at the moment?

Feels a bit odd. The interbank AUDSGD rate at close of business on Friday was 0.9860ish - that is, one AUD buys 0.986 SGD, or one SGD buys about 1.014 AUD.

 

[ixoral]

Hi all, i have about SGD 2000 worth of Jap Yen to change back to SGD. would Arcade money changers be the best bet for me to get the most SGD out of this exchange?
Please dont tell me to wait till my next Japan trip, for personal reasons i would wish to convert this back to SGD. Thanks