Exchange Rates for RM

[Sweeve]

This is what happens every year when nearing CNY. The fluctuation from the actual trading rate widens. When it's closer to CNY, the fluctuation may be wider and will continue past CNY.

Last year, the gap start to widen approximately 1 week before CNY. This year is abit early.

Just change how much you need for now.

No wonder Dollar Exchange in Jurong Point rate is so terrible tonight . Cash 2.435 tt 2.445.

Is monopoly, the price is controlled. The retail price does not follow the movement of the spot price.

 

[Walker]

A check with the money changer. He told me ringgit no more stocks! Luckily i did change 100k and put into FD on mthly basis. Just in case situation like this arises.

Ringgit no more stock?
I can understand when there are many people changing in hard currency.
But it should not affect the remittance rate as it should be an electronic exchange.
So when they give us rates like 2.46+ when they are getting 2.49- 2.50 is pure profiteering.

 

[Grago]

It's as our fellow contributors have been pointing out, they are profiterring, 'Capitalism at it's BEST'. While I am for all the good things about Capitlism, the "Ugly" side is not desirable at all. The MC know you've got to change Money.... To send home, to pay for "things" in general, especially now with CNY around the corner...... So they will give you a rate which the "public" will accept without too much fuss. I am sure if suddenly there is a drop in money being changed to MYR, the rate will 'magically' go up by another "pip or two"......
On the 'bright' side the 2.50 barrier has been breached...... So now 2.70 the next target.......

 

[Grago]

wah whats the point of RM 2.70 as listed but we get to change 2.45 everytime. its frustrating

Bro after CNY, it will 'go back' to "normal" if there is such a situation!! Then we will change for a rate of 2.5 or better. Must try to see the 'silver lining in the cloud' BUT make sure it's not actually a UFO hiding behind the cloud.

 

[vincentck]

Just called Raffles @ JP, quoted 2.42 for TT rate. I had to asked her again in case I heard wrongly. Wahlau-eh... So freaking low.

 

[DCputeri]

A man from Raffles told me to forget about TT or change RM for now. Do it after CNY as rates will be better.

Just called Raffles @ JP, quoted 2.42 for TT rate. I had to asked her again in case I heard wrongly. Wahlau-eh... So freaking low.

 

[FHBH12]

I will TT to the developer on 18 Feb. I really hope the rates will be restored to normal pegging level as the amount will be quite a big sum.

 

[shctaw]

I will TT to the developer on 18 Feb. I really hope the rates will be restored to normal pegging level as the amount will be quite a big sum.

Rate is better when you TT directly into a Malaysia Bank account. (example wire transfer from DBS Singapore to UOB Malaysia) Some small fees will be incurred.

You can call the relationship officers for the rate before you wire into the bank.

This are the few times a year that the bank board rate is better than middlemen.

 

[FHBH12]

Ok, thx. I guess for times like this, TT via bank is better.

 

[shctaw]

Ok, thx. I guess for times like this, TT via bank is better.

I found their rate is 2.48.

http://www1.uob.com.my/personal/useful/price_rates.html
Click "VIEW" on "Foreign Exchange Rate"

 

[FHBH12]

Oh, so e rated is based on e Malaysia bank's (recipient) rate, n DBS only charges e service fee?

 

[FHBH12]

If it is by above method then e rates r really bad. No wonder so many pp still TT via remittance company.

 

[whoami]

If it is by above method then e rates r really bad. No wonder so many pp still TT via remittance company.

Even TT rates fm the Aneh oso cut throat. Doesnt make sense ya. Arcade quoting 2.455 - 2.46xx for TT during mid-day. Of course it fluctuate. But still hover around tat tight range...

 

[FHBH12]

I believe a cartel is at work. Behind e different shops, they essentially cpd b using only a few key money changers who physically transport e RM notes to SG. The rates r set by these few guys.

 

[kingrant]

Between an Ah Neh and a local Chinese money changer, I would give the job anytime to the latter.

Ah Nehs just suck you dry and never return back to our society anything.

 

[crystal_tiong]

Between an Ah Neh and a local Chinese money changer, I would give the job anytime to the latter.

Ah Nehs just suck you dry and never return back to our society anything.

agreed , so far e chinese money changer at marina square not bad ....

 

[DCputeri]

It is holiday in KL today. Money TT from Singapore to Malaysia in SGD will only be converted to RM on Monday. Those remitted in RM will have no issue. Anyone knows how long does it take after you submit the TT application form to the bank in singapore before it is being processed and TT to your bank in malaysia?

Oh, so e rated is based on e Malaysia bank's (recipient) rate, n DBS only charges e service fee?

 

[FHBH12]

Within 1 working day for my case if u TT in e morning.

 

[Newbie11]

Raffles arcade at 4pm 2.45!!

 

[DCputeri]

Can share which Singapore bank did you use?

Within 1 working day for my case if u TT in e morning.