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Exchanging Foreigh Currency

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ademartin
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Exchanging Foreigh Currency

Postby ademartin » Mon, 07 Feb 2011 12:41 pm

Hi,

I am traveling back to UK shortly and was wondering about the best way to go about exchanging Singapore Dollars for UK Pounds.

Is it better to use a money changer in Singapore before I leave or wait until I reach UK? Will the exchange rate vary by much?

Also someone mentioned to me something about stored value travel cards but I have no idea how this works? If I load up with Sing$ how does that affect the exchange rate in UK?

Thanks in advance for your help,

Ade

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Asdracles
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Location: Hong Kong (bye bye SG!)

Postby Asdracles » Mon, 07 Feb 2011 1:03 pm

The "thumb rule" says that currency is highly valuated in its own country.

So probably you will get a better rate if you sell your SGD here and not in UK. It doesn't work always, but based in my travel experience I would say that 90% of times.

If you decide to exchange here, and it's a pretty decent amount I suggest you to go to Raffles Place - The Arcade. A lot of money changers there and very competitive rates.

ademartin
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Postby ademartin » Mon, 07 Feb 2011 10:36 pm

Thanks very much for the info Asdracles

Ade


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