Jan 7 2015, 01:59 PM
QUOTE(AVFAN @ Jan 6 2015, 06:42 PM)
if u din follow me, u do hv quite a bit to read up and act...
basically, i was saying:
... money changer, you buy sgd with rm at say 2.70, if u sell immediately after buying , u get only 2.60, u already lost 3-4%. this is called spread - money changers earn it, that's their biz.
Money changer spread is actually very low....definitely less than 1%; e.g. http://www.moneymaster.com.my based in midvalley megamallbasically, i was saying:
... money changer, you buy sgd with rm at say 2.70, if u sell immediately after buying , u get only 2.60, u already lost 3-4%. this is called spread - money changers earn it, that's their biz.
SGD SINGAPORE DOLLAR 2.645 2.660 2.66/2.645 = only 0.57%
SD US DOLLAR 3.535 3.565 3.565/3.535 = only 0.85%
I went for overseas hol last mth and if I were to exchange back the USD$ to RM which I still have leftover, I would have made over 8% profit
This post has been edited by topearn: Jan 7 2015, 02:01 PM
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