Quote:
Originally Posted by jinrenhe
wow that's high... btw can senior bro explain how come money changer seem to offert better rates than those i see on bank website ?
so it's better to go money changer than bank for change of currency? i always tod bank offer better rates since they have economies of scale (sorry newbie to this foreign xchange stuff... but plannin to go BBK soon)
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Yes, they hav economies of scale but those saving R nt passed 2 ordinary folks, lik me who go & change 4 $1~2k ONLI. If U wan 2 open a term saving account (3mth or more) in FX, then maybe k100k~500k k give U a better rate, otherwise, U mus be able 2 change millions 2 enjoy those high inter-bank rate.
Since there's so much money-changer, tat's why money-changer mus give better rate than bank, except 4 those super unpopular currencies where very little ppl chg, then the money-changer mus need 2 charge higher comission as they oso knt gt better rates fm bank since they oso dun enjoy benefits of scale.
Orchard Rd gt gd rates 4 USD$.
Golden Mile gt gd rates 4 Baht$.
Wdlnd gt gd rates 4 Ringet$.
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