Anyone got the rate at Parkway Parade ? I remember its very competitive there.
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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
I've a theory in this; money changer controls the rates however they want, but banks must follow some standard formula for the exchange rates. And the spread for banks' exchange rates are consistent the same.Most of the time money changer rates better than cimb internet banking rate. But this time round is the opposite.
I've a theory in this; money changer controls the rates however they want, but banks must follow some standard formula for the exchange rates. And the spread for banks' exchange rates are consistent the same.
Actually I think its because money changers need to clear their existing stock. They probably have hedging policies in place for the old stocks. In 2 weeks time, money changers rates will surpass the banks again.
No doubt that the money changers have old stock, but banks also have old stock. The difference is that bank has to follow their SOP for this because of the highly-regulated nature of the banking industry. Just sharing an opinion... Wonder if there's a banker than can reveal the inner workings of deciding the exchange rate.Actually I think its because money changers need to clear their existing stock. They probably have hedging policies in place for the old stocks. In 2 weeks time, money changers rates will surpass the banks again.
Money changer has very wide buy/sell rate to protect their margin.
Singaporeans head to Johor to cash in on weak ringgit
By Leong Wai Kit, Channel NewsAsia
POSTED: 06 Dec 2014 17:39
Singaporeans are heading across the Causeway to Johor Bahru as the ringgit slips to a 10-month low against the Singapore dollar.
JOHOR BAHRU: The ringgit is at a 10-month low against the Singapore dollar, and Singaporeans are heading across the Causeway to cash in on the exchange rate.
They are now getting 10 ringgit more for every S$100 exchanged, compared to two weeks ago.
"Previously, I went to Johor Bahru four times a month - that means every week - because the exchange rate was also good at that time,” said Singaporean Rashid Osman. “But after the toll hike, I stopped going in for the past one month or so.
"So now that the exchange rate is at 2.63 the last time that I heard, it's about time to go back there again. Usually we will go there for grocery shopping and eating."
Some Singaporeans whom Channel NewsAsia spoke with said they would visit hair salons and go for meals in Johor Bahru.
Although many Singaporeans whom Channel NewsAsia spoke to said they have been going across the Causeway, some retailers in Johor Bahru said they are not seeing a marked increase in business.
One owner of a mobile phone and accessories shop at Holiday Plaza said the weak ringgit has had no impact on its business, as his sales volume depends on the launch of new phone models instead of currency exchange rates.
A salon told Channel NewsAsia it lost about 20 per cent of its monthly clients after the August Causeway toll hike. It said it serves about 20 clients a day, 70 per cent of whom are from Singapore or Malaysians who work there. The recent fall in exchange rate has not been strong enough to spur people to visit the salon.
The sentiment was shared by Jack Tan, a Singaporean who frequents Johor Bahru. Mr Tan said he crosses the Causeway at least once a week.
"The ringgit has dropped, but it's not to the extent where it was sometime back, where it was 2.66, 2.67. Now it's only 2.61, 2.62,” he said. “The difference does not cover the extra toll hike so people still would not come in unless they have something to do here.”
- CNA/xq
http://www.channelnewsasia.com/news/singapore/singaporeans-head-to/1513616.html
By Leong Wai Kit, Channel NewsAsia
POSTED: 06 Dec 2014 17:39
Singaporeans are heading across the Causeway to Johor Bahru as the ringgit slips to a 10-month low against the Singapore dollar.
JOHOR BAHRU: The ringgit is at a 10-month low against the Singapore dollar, and Singaporeans are heading across the Causeway to cash in on the exchange rate.
They are now getting 10 ringgit more for every S$100 exchanged, compared to two weeks ago.
"Previously, I went to Johor Bahru four times a month - that means every week - because the exchange rate was also good at that time,” said Singaporean Rashid Osman. “But after the toll hike, I stopped going in for the past one month or so.
"So now that the exchange rate is at 2.63 the last time that I heard, it's about time to go back there again. Usually we will go there for grocery shopping and eating."
Some Singaporeans whom Channel NewsAsia spoke with said they would visit hair salons and go for meals in Johor Bahru.
Although many Singaporeans whom Channel NewsAsia spoke to said they have been going across the Causeway, some retailers in Johor Bahru said they are not seeing a marked increase in business.
One owner of a mobile phone and accessories shop at Holiday Plaza said the weak ringgit has had no impact on its business, as his sales volume depends on the launch of new phone models instead of currency exchange rates.
A salon told Channel NewsAsia it lost about 20 per cent of its monthly clients after the August Causeway toll hike. It said it serves about 20 clients a day, 70 per cent of whom are from Singapore or Malaysians who work there. The recent fall in exchange rate has not been strong enough to spur people to visit the salon.
The sentiment was shared by Jack Tan, a Singaporean who frequents Johor Bahru. Mr Tan said he crosses the Causeway at least once a week.
"The ringgit has dropped, but it's not to the extent where it was sometime back, where it was 2.66, 2.67. Now it's only 2.61, 2.62,” he said. “The difference does not cover the extra toll hike so people still would not come in unless they have something to do here.”
- CNA/xq
http://www.channelnewsasia.com/news/singapore/singaporeans-head-to/1513616.html
They are now getting 10 ringgit more for every S$100 exchanged, compared to two weeks ago.
no lah. 2 weeks ago S$100 = rm256
now........................S$100 = rm260
only 4 ringgit
Changed at rm2.605 at bb in kl yesterday.
S'porean side money changer rate still no lousy.. About 2.585 yesterday
Changed at rm2.605 at bb in kl yesterday.
S'porean side money changer rate still no lousy.. About 2.585 yesterday
another at bb was at 2.60
the rest at 2.57 - 2.585
pays to look around
Actually I think its because money changers need to clear their existing stock. They probably have hedging policies in place for the old stocks. In 2 weeks time, money changers rates will surpass the banks again.
This sure have i cos i have witnessed (at Bedok near d foodcentre previously. boss name was Jaafar) myself as they asked me go inside fr the back door to do the change due to high amt and the safe was filled with stacks and stacks of RM notes.
Changed at rm2.605 at bb in kl yesterday.
BB means Bukit Batok?
BB means Bukit Batok?
Bukit Bintang.
S'porean side money changer rate still no lousy.. About 2.585 yesterday
Pure profiteering by Sg moneychangers. Enormous demand so where is the need to keep close to actual xchange rate?
S'porean side money changer rate still so lousy.. About 2.585 yesterday
Happened today go in JB.. So brought $$ along to superlink Bt. Indah to check the rate.. It is 2.595.. So changed lol
Last edited:
Happened today go in JB.. So brought $$ along to superlink Bt. Indah to check the rate.. It is 2.595.. So changed lol
Incidentally i was at SCB, opp Pelangi Plaza. Change some ringgit at one of the MC along SCB and HL bank. Quoted me 2.60.
Wow! Good money changer rate..Incidentally i was at SCB, opp Pelangi Plaza. Change some ringgit at one of the MC along SCB and HL bank. Quoted me 2.60.
Wow! Good money changer rate..
Indeed. I was quite surprise cos normally Spore MC quote better rates than msian counterparts.
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