Singaporeans love to travel – best money changer rates comparison
But before we board our flight, most of us would head to the nearest money changer.
Blasted with a dizzying array of numbers in two columns, how do you decipher which value you’re changing your currency at?
Don’t worry. We’re here to give you a five minute guide to successfully deciphering the money changer board.
The Scenario.
I’m going to Japan, and I just want S$1000 to be changed into Japanese Yen.
At the money changer, I’ll get to see the rates being presented to me like this:
The Solution.
If you are holding Singapore Dollars (SGD), you should be looking under the WE SELL column.
The value shown in our example is 12.44.
But are you getting ¥12.44 per S$1000? Nope.
The Math.
Here’s how we should calculate, and it’s fairly easy:
( Base currency(SGD) / We Sell Column ) X Unit
or
($1000 / 12.44) X 1000 = **80385.85 Yen
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