Exchange Rates for RM

[Mingchye]

Thanks for ur reply. My branch is back in my hometown Ipoh, wonder if they have a list of all branches... Anyway, will go TT in Raffles today

I had to specify my MBB Johor Bahru main branch when I create my remittance account with Raffles@JP and Raffles@Arcade.

Take note Raffles@Arcade -> min 50kRM to waive SGD10 commission
Raffles@JP -> min 10kRM to waive SGD10 commission and they give slightly better rate (maybe RM0.001 better e.g. Remittance rate is 2.49 they give you 2.491) if you give crossed cheque.

Conclusion, if you live in the far west (like me), better to do at Raffles JP because lower min sum to waive commission, slightly better rate via cheque AND late closing time of 9pm. The Raffles at Arcade opening times are crap and close at 530pm. Waste time.

 

[Booga]

bishan J8 2.4781

 

[vincentck]

Thanks for the sharing and updates. Will report back on the rate after I go to JP

 

[dumb1]

Yesterday evening changed at 2.4857 at raffles place.

 

[Booga]

Share my past year findings tips for changing RM per monthly basis :- ( trend might change)

rate lower if:-

1) close to public holidays week
2) month end after pay day 24-1st.( super low)

Rate will be higher for that particular mth:-

1) around mid mth provided no public holidays.

Place :-

Money changer in Arcade ,raffles place normally can get best rate in town. Ask 2 shops and compare. Normally the upstairs shops better rate. Specially the one closest to escalator.
Woodlands area & Jb money changer very low rate for past 3 yrs.
Last time use to be JB better.
Beware of chinatown money changer .. Outside near the corner, always long q,
I kena " cheated" with a fake $50 note.

 

[crystal_tiong]

actually , i dun understand y the chinatown outside one so many ppl ??? the rates not attractive leh !
OMG , u should report to police ....

actually the trend not accurate liao coz last week holidays , rates is better than this week lor .... its the economic ba ..

 

[Booga]

Coz now mth end ( pay day) mah plus school hols so low lor...
Public hols lower than mth end or not i am not sure.
What i meant is the norm per mthly basis.
You try monitor few mths and see.
Norm- after pay day & public hol lower than other daily rate is wat i meant.
Economics definately make the rate go higher or lower.

I did not report because i was rushing to msia for few days.
After that don't hv the time so din bother. So please check ur notes piece by piece.
The fake note i received slightly shorter n not so glossy.

The chinatown long q used to be very good rate few yrs ago. Now i am not too sure.
After bitten once, i swear nvr go to any $ changer in chinatown le.

 

[tutucake]

Thanks for the sharing and updates. Will report back on the rate after I go to JP

so hows the rate at JP?

 

[vincentck]

TT rate displayed was 2.488 and cash rate was 2.478 at Raffles MC @ JP. I remitted at a rate of 2.49.

At Clementi Mall, it was 2.475.

 

[vincentck]

Sis Booga, thanks for sharing ur tips and observation.

In Chinatown, I usually change at the Indian MC inside the complex; the one at the second row next to the escalator and clothing store. Same rate for RM as the outside Chinese MC, but minus the long queue.

 

[crystal_tiong]

so ask abt branch code ?

 

[crystal_tiong]

yes. i been monitoring else i wont start this thread liao. now e trend is diff liao.

 

[tutucake]

TT rate displayed was 2.488 and cash rate was 2.478 at Raffles MC @ JP. I remitted at a rate of 2.49.

At Clementi Mall, it was 2.475.

thanks...2.49 seems like a good rate...i think tomorow i go remit rm10k

 

[vincentck]

so ask abt branch code ?

They didn't ask for branch code; just need to see your IC, and as written on the form; the bank and account number. And remittance customers get priority over those changing cash.

 

[Booga]

Remittance ex rate at TP 2.485

 

[vincentck]

Raffles MC @ JP: TT rate displayed was 2.487 and cash rate was 2.482. I remitted at 2.488, highest possible rate according to the lady.

 

[abugumgum]

Dollar Ex @ JP
TT 2.487 Display after nego 2.488 today

 

[Grago]

Bukit Indah 2.485 @ Neraca Setia MC

 

[arsenal]

Bukit Indah 2.485 @ Neraca Setia MC

Arcade only between 2.481-2.483..

 

[CameraMan]

My colleague from KL told me the exchange rate in KL is 2.5. He just changed it on Monday.

Wonder why the gap is that wide between KL and JB?