Currency Exchange
 

Today manage to get 2.595 at nusa bestari money changer

Re: Currency Exchange
 

Managed to get 2.605 at the money changer near the Petron Station and Indian Muslim restaurant in JB last night.

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Today can get 2.61 at bukit indah

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Singapore still cannot get 2.60, at least not in East area

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Singapore china town point only can get 258 max :mad:

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I generally find the rates in jb better than sg most of the times.

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Lucky plaza quoted 2.575......very bad

Re: Currency Exchange
 

I am no expert in the business of forex exchange but could it be that due to the high demand for RM in S'pore at the moment, the S'pore money changers are lowering their selling rates in response to the higher demand? Like that they can earn more.

Now you can only get 2.57 - 2.58+ at the S'pore money changers when the real rates are like 2.63 - 2.64.

Whereas in M'sia, the M'sia money changers can offer better rates like 2.60 - 2.61 Perhaps this is because they want to buy and stock as much SG dollar as they anticipate the RM to continue to fall further? So their profit will not be based on selling the RM at a low exchange rate (like their S'pore counterparts) but they will earn from buying as much SG dollar they can and sell it when the SG dollar further appreciates.

Just a thought. Maybe bros who have experience in the forex industry can share with us if this is the case.

Re: Currency Exchange
 

One of the money changers interviewed on TV a few days ago claimed they have "old stocks" of Ringgit bought at higher cost so can't offer current rates as otherwise lose money.

Another interviewed on papers today claim they have to replenish their stocks more than once daily due to overwhelming demand.

Personally, I think its a sort of "cartel" and all of them have some agreement not to increase until someone breaks rank.

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JB- most of the money changer is selling at range from 260-261.:D

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Return +11

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Managed to get 262 at Nusa Bestari yesterday.

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I managed to change 263 at the petron station in the JB old town that the building that is next to the petrol station need to go up a fleet of stair on the 1st floor run by Chinese. I chnGe 800. V gd rates.

You can up me and leave your nick. I will up u back to return the favors.

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2 nights ago I got 2.593 at BKK exchange at Golden Mile. If u gotta change in Sg, I think they have consistently good rates for currencies not only Baht.

Re: Currency Exchange
 

Parkway near the cupcake, 2.62. I changed 1k SGD