May 26 2006, 09:08 PM
QUOTE(kando @ Feb 22 2006, 02:56 PM)
I'm going to Hk & Taiwan next month. I'd like to know how you guys normally practiced on currency exchanging.
Do you guys:
1) Exchange a reasonable amount of HKD & NT and bring some USD just in case?
or
2) Exchange all to USD and change your money in the foreign country?
or
3) Bring less cash and use credit card most of the time for shopping?
4)What's the conversion rate for using credit card in foreign country?
5)Any good money changer in KL to recommend?
Not sure whats best practice. But I feel changing MYR to HKD directly is the best choice. Reason being if you change all to USD, you suffer the exchange rates twice (MYR --> USD --> HKD) That's just my assumption though...Do you guys:
1) Exchange a reasonable amount of HKD & NT and bring some USD just in case?
or
2) Exchange all to USD and change your money in the foreign country?
or
3) Bring less cash and use credit card most of the time for shopping?
4)What's the conversion rate for using credit card in foreign country?
5)Any good money changer in KL to recommend?
I would however guarantee that option 3 is the most costly one (though safest in terms with least cash on hand of course)...
That is because when you charge your Malaysian-based credit card, you are subjected to VISA/Mastercard's foreign exchange rate (not the issuing bank's) in which the rates I believe is not disclosed to the public. Taking the rates into account, whenever you charge your cc,- they will convert from HKD --> USD --> MYR, which is their standard practice that applies everywhere in the world; They will convert to USD first. I can quite confirm this statement...
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