[Official Thread] Ringgit Exchange Rate

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altya1

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hi all, have RM1800 to change to SGD, can offer 2.5, so is SGD$720, deal north area, pm me if interested
 

poppers

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This is a good way to skip the moneychangers. We can do it among ourselves.

According google finance, the interbank rate is 2.5154 the time of my posting.
Fair rate as in nobody gains/loses.

Moneychanger will :
1) sell ringgit at 2.491 to 2.495.
2) buy ringgit at 2.530 to 2.535.

If the rate is fixed at 2.50, it is considered fair?


hi all, have RM1800 to change to SGD, can offer 2.5, so is SGD$720, deal north area, pm me if interested
 

yvette_qi

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This is a good way to skip the moneychangers. We can do it among ourselves.

According google finance, the interbank rate is 2.5154 the time of my posting.
Fair rate as in nobody gains/loses.

Moneychanger will :
1) sell ringgit at 2.491 to 2.495.
2) buy ringgit at 2.530 to 2.535.

If the rate is fixed at 2.50, it is considered fair?

how do we do it ourselves? interbank? how?
 

altya1

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good luck on not getting fake currencies for either side of self buyers and sellers.

don be so pessimistic....

Using fake notes is a pretty big crime, doubt anyone would risk it just for a few hundreds/thousands... haha

anyway my RM is pending deal, thanks for e huge response...
 

poppers

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Yes, it is a very serious crime. For a few pieces of fake currency, the offender is entitled to free accomodation & food at Changi Prison with full name printed on Newspapers bring ultimate shame onto self & family.

Worth?

don be so pessimistic....

Using fake notes is a pretty big crime, doubt anyone would risk it just for a few hundreds/thousands... haha

anyway my RM is pending deal, thanks for e huge response...
 

poppers

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There will be 2 groups of people :

a) People who wants to sell SG, buy RM.
b) People who wants to sell RM, buy SG.

Just fix at the the interbank rate that is widely available on internet. Both parties can agree on Yahoo finance or Google finance rate at say 12pm, 2pm or meeting time.

Why set it to advantage of RM seller?


how do we do it ourselves? interbank? how?
 
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