Generally, bring what ever you already have, little point in changing money twice and losing out. You can get an indication of the exchange rate you can get in Singapore here. Mustafa linked to by Mankster in response 1 is one of the most efficient venues for exchanging small to moderate amounts of cash.
To compute this simplistically, divide the buying rate by the selling rate or vice versa. Please don't fully trust those calculations. Any stamp duty in South Africa would add to the cost there My experience shows that for major currencies like USD or Euro, money changers in The Arcade at Raffles Place offered most competitive rates than elsewhere.
The rates at some of the popular money changes at The Arcade, eg. As there is no official rates on weekends the exchange rate can fluctuates widely at money changers, most of them are closed at The Arcade. One of them, coincidentally by the name Arcade, has a website that you can check the rates:.
Certain currecies which are in lesser demand are not readily available or accepted at money changers, or the rates quoted are significantly less favourable compare to official rates, including the Turkish Lira. The difference in rates, however, won't make you a lot poorer unless you are changing a large amount. In my personal research, Mustafa has had better rates than The Arcade for the several currencies that I checked.
Some claim that the "upgrade" from the historic Change Alley to the present development has impacted the competitiveness of exchange rates at those places. It might not hurt to try a bit of haggling if one has enough currency to exchange - to see if the others might improve their rates if you clarify that you know Mustafa's rates always available on their Website.
I was a bit surprised that the test exchange shown at the bottom of response 2 above came out as it did. Perhaps, especially, in countries with generally highly efficient forex facilities such as Singapore and Thailand , yet potentially significant differences between local forex options airport vs city, banks vs private money changers, at different days and times.
Anyway, another advantage of making the exchange at Mustafa is being able to do so in the cool of the evening, then taking one's savings from that exchange and having a great snack at Gokul, followed by coffee in the lobby of Wanderlust or your own selection from the many options available. If you need to change over the weekend or at night when The Arcade is closed, you have little choice but to pay a little more at other money changers, or at Mustafa if you don't mind joining the crowd!
Plus also a short walk 5min to lau Pa Sat from there too. As long as you are happy with the rates and not having to run about to find what you need, get it wherever is convenient to you especially for small amount. Sometime even the money changers in Marina Square offer decent rates. One other thing I like about The Arcade is "what you see is what you get"! No matter what amount you change the rates are as posted. Unlike some neighbourhood money changers, even those in Parkway Parade, they will call you back when you walk away after enquiring about the rate, or ask you how much you want to change?
If you are a foreigner chances are the initial quote will be higher. Can't blame them if their turnover is low, just like any other businesses. But places like The Arcade have high volume of transaction daily and with so many money changers there the rates quoted have to be competitive except for those on the ground floor near the entrance. Use the online rates as a guide so you know whether you are getting a reasonable rate when shopping around.
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