Money exchange
Money exchange
Has anyone recently exchanged money I went to money exchange and only got 59cent for NZ dollars apparently the system has changed since covid they need to go through a internet third party who takes 6c WTF.
I didn't have any reason to disbelieve as been dealing with this shop for years.
I didn't have any reason to disbelieve as been dealing with this shop for years.
I'm standing up, so I must be straight.
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
Re: Money exchange
Not fully understand what you meant by system changed?
You mean the shop you frequent suddenly changed system and there's a fee imposed for exchanging AUD1 = USD0.59 and less USD0.06 ? So nett amount you got in USD is 0.53?
You mean the shop you frequent suddenly changed system and there's a fee imposed for exchanging AUD1 = USD0.59 and less USD0.06 ? So nett amount you got in USD is 0.53?
Re: Money exchange
No the exchange rate they gave before was up to them but now they get thier rates from a third party .
Now I give them $1 NZ they give me 59 cents USD
If this is what's happening pitty the kiwi pensioners
Now I give them $1 NZ they give me 59 cents USD
If this is what's happening pitty the kiwi pensioners
I'm standing up, so I must be straight.
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
Re: Money exchange
I changed some AUD. on Saturday just gone and i got around what I normally do! After checking (what I call the TV rate) CNBC. a few cents less less than the TV rate ? maybe I was lucky? Don't know things could have changed!
My wife said to get one of those pills that'll give me a huge hard on for hours! I brought her back some diet pills, Now I am hiding out in Cambodia for a few years until she calms down!
- Duncan
- Sir Duncan
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Re: Money exchange
I sent $400 Australian this morning by Western Union plus a A$15 fee, and got $ 269.94 USA at their rate of .67.48 . The dollar at that time on the internet was 71.3 to the US , so I lost 4 c A on each A$ , or $A 16 plus fee $15,, total $31 Australian.
Had I sent by other companies , I would have paid Fee A $10 ? Plus intermediate bank fee USA $ 25 plus Cambodian bank fee USA $10 and the exchange rate probably would have been about two cents better.
The difference in time is also much better with WU . Almost instantaneous compared to 3 or 4 days by other means.
Had I sent by other companies , I would have paid Fee A $10 ? Plus intermediate bank fee USA $ 25 plus Cambodian bank fee USA $10 and the exchange rate probably would have been about two cents better.
The difference in time is also much better with WU . Almost instantaneous compared to 3 or 4 days by other means.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Re: Money exchange
I went to the money changer by ABA in central market and tried to offload some Filipino Pesos that I had left over form my March trip; 8500 to be precise. I was expecting something in the order of $165, the spot rate being about $175. He offered me $115 and would not budge.
I went across the road and was offered $145 and not a penny more. I took it, That is some spread and I have never seen that here. It's normally 2% or 3%, but that was nearly 20%.
It seems that no travel mean no FX business and they have to make the money somehow. Whether the Euro or Sterling or the AUD fair any better is another matter, it would be interesting to know as getting USD for people coming here might suddenly be needed as your home currency might not get you anywhere near what you think.
I went across the road and was offered $145 and not a penny more. I took it, That is some spread and I have never seen that here. It's normally 2% or 3%, but that was nearly 20%.
It seems that no travel mean no FX business and they have to make the money somehow. Whether the Euro or Sterling or the AUD fair any better is another matter, it would be interesting to know as getting USD for people coming here might suddenly be needed as your home currency might not get you anywhere near what you think.
- armchairlawyer
- Expatriate
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Re: Money exchange
It makes sense that the money changers do not want to take currencies from countries which are difficult or unattractive to travel to. PHP would qualify there. Plus, it being an EM currency, it is more volatile and therefore could be worth a lot less when things open up.
As for other currencies, the USD is set for a period of decline so the changers should not be fearful of AUD, NZD, EUR, GBP, JPY even if they have to hold for a while.
As for other currencies, the USD is set for a period of decline so the changers should not be fearful of AUD, NZD, EUR, GBP, JPY even if they have to hold for a while.
Re: Money exchange
I've changed 200 USD over the last two days. No issues.
Re: Money exchange
I see GBP strengthening against the USD in the last 10 days. This was entirely predictable as I had just bought some USD with GBP and sent them here.armchairlawyer wrote: ↑Thu Jul 23, 2020 11:49 am It makes sense that the money changers do not want to take currencies from countries which are difficult or unattractive to travel to. PHP would qualify there. Plus, it being an EM currency, it is more volatile and therefore could be worth a lot less when things open up.
As for other currencies, the USD is set for a period of decline so the changers should not be fearful of AUD, NZD, EUR, GBP, JPY even if they have to hold for a while.
Where do you see the USD/GBP in a few months time? I can hang on for quite a while here without changing up any more and if I wait and change a chunk, a rate of say 1.35, that would be very nice indeed.
- armchairlawyer
- Expatriate
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- Joined: Sat Aug 29, 2015 1:43 pm
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Re: Money exchange
I'm bullish GBP/USD, so just change them as you need. Sorry, the firm I use doesn't do targets.Doc67 wrote: ↑Mon Jul 27, 2020 10:49 amI see GBP strengthening against the USD in the last 10 days. This was entirely predictable as I had just bought some USD with GBP and sent them here.armchairlawyer wrote: ↑Thu Jul 23, 2020 11:49 am It makes sense that the money changers do not want to take currencies from countries which are difficult or unattractive to travel to. PHP would qualify there. Plus, it being an EM currency, it is more volatile and therefore could be worth a lot less when things open up.
As for other currencies, the USD is set for a period of decline so the changers should not be fearful of AUD, NZD, EUR, GBP, JPY even if they have to hold for a while.
Where do you see the USD/GBP in a few months time? I can hang on for quite a while here without changing up any more and if I wait and change a chunk, a rate of say 1.35, that would be very nice indeed.
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