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Travel Forums Asia Currencies

1. Posted by omanje (Budding Member 5 posts) 11y

Hi all

We're going to travel to Malaysia, Singapore and Bali.

Any idea if it's more worth it to take U$D or English Sterling to exchange over there??

Thanks

Omy and Jenny

2. Posted by summer910 (Respected Member 1342 posts) 11y

There will be money changers in these places, but it's best to have some local currency before you leave for the trip. As for how much you can exchange, it depends on the rate of exchange for the day, but it won't be that much of a difference where you exchange the currency.

3. Posted by Peter (Admin 5813 posts) 11y

I tend to just use the first ATM I see at the airport. And I generally look for major banks' ATMs to ensure the rate will be competitive. I don't give it much more thought than that. Certainly, I can see a benefit in having some local currency on you before going into the country though, just in case it proves difficult.

4. Posted by mahmud (Full Member 247 posts) 11y

Bring some USD noted in Bali & exchange those with Indonesian currency. You will be the MILLIONEER!!!!!!!!!!!!

5. Posted by don_kam (Full Member 115 posts) 11y

Hi,

which currency is more "worth it" will depends on what you mean... if you are asking which currency is easily changable, both are in these 3 countries.

but i will still advised the USD. i am for the american dollar

:)

Don

6. Posted by xs.if (Full Member 67 posts) 11y

hi Omy and Jenny

all advise regarding the countries you'll be visiting are good. some one mentioned using an atm when you get there, and thats really as simply as it gets most all of these countries know you are coming and have all made it so easy to get your money out and spend it in there country. i was in singapore for about 10 days, indonesia for 2 months and malaysia for about 3 months, my advice change a little bit into the local currency 50 pounds (approx USD 90) or even has more as you want, so when you get to the country you atleast have money for transportation from the airport, but trust me there are atms and even banks in some of these airports. kuala lumpur and singapore, piece of pi55, but indonesia i.e. bali (take some local currency), and please if you are british take pounds and NOT dollars, the pound is worth also twice as more a dollar would get you between 9,000 to 10,000 rupiah, the pound would give you also 18,000 rupiah its that simple, and indonesia's dont spend dollars the spend they're own currency, but some of the expensive places put they're list there prices in dollars, makes it easier for you at first glance, an example a hotel would put the price of their room per night - US$100 (or for brits 55 pounds)instead of US$100 X 10,000 Rupiah which equals 1,000,000 Rupiah, which is a lot considering you could get as good a room or better at 100,000 Rupiah.

i guess in short its safer and better to take money out of your account out here using an atm than it is walking around with a bag full of currency. the perception is that its going to be difficult to do the moeny thing out here, but it can be simpliar or easy just using their atm's (cash machines) cos its doesnt matter where you are from or what currency you have, the atm will give you the local currency full stop. 2 things to look into would be what percentage your bank will charge you each time you take cast out of the atm (some banks dont chagre anything), either way it would be better to take the amount you think you'll need for that week out. second thing would be internet banking.

in short if you want to bring any currency bring english pound sterling its worth more - especially if you're british, am only saying this because you would have to change your currency e.g. if its dollars into pounds.

if you need to get around out here, air asia malaysian based cheap flights cheaper than going by ferry. it doesnt operate in singapore, but you could get a bus in singapore into malaysia - johor bharu and catch air asia from there to kl and maybe bali.

just a little thing to think about (at this point in time - 20th july 2005)
1 pound = US$1.75 (American dollars)
1 pound = RM 7 (Malaysian ringgits)
1 pound = S$ 3 (Singapore dollars)
1 pound = 17,500IR(Indonesian rupiahs)changes daily/hourly btw 17-18k

1 dollar = 0.60 Pence (UK)
1 dollar = 3.80 Ringgits (Malaysia)
1 dollar = 1.70 SG dollars (Singapore)
1 dollar = 9,500Rupiah(Indonesia)again its changes daily/hr btw 9-10k

Quote - mahmud 17th Jul 05, 20:07
"Bring some USD noted in Bali & exchange those with Indonesian currency. You will be the MILLIONEER!!!!!!!!!!!!"

bring pound sterling and you'll be alomst twice as rich as if you'd brought USD, its that simply.

digest and enjoy, its all fun and games out here, still got 4 months on my trip...booooooooooo!

sorry for the essay, more importantly hope you find it useful

peace

Yemi

7. Posted by Peter (Admin 5813 posts) 11y

Quoting xs.if

bring pound sterling and you'll be alomst twice as rich as if you'd brought USD, its that simply.

Well, the only reason you would have more if you took pounds is that you don't lose out on an extra conversion fee. You certainly won't be twice as rich.

If you had 10 pounds, converted it into us dollars = $17.36, then converted again = 170,898 Rupiahs

If you took 10 pounds and converted it straight into Rupiahs, guess what, it works out at 170,928 - basically the same. The only reason it is slightly different is because of the rounding that goes on when converting through another currency. And of course, each conversion will cost something, so it is far better to convert directly.

If you cash is currently in USD, take them because you'll lose less in conversion fees. If you have GBP, take them. If you have Australian dollars, take those. As long as you can readily exchange them, it really makes no difference. But, just remember; the less conversions the better!

8. Posted by xs.if (Full Member 67 posts) 11y

Quoting Peter

Quoting xs.if

bring pound sterling and you'll be alomst twice as rich as if you'd brought USD, its that simply.

Well, the only reason you would have more if you took pounds is that you don't lose out on an extra conversion fee. You certainly won't be twice as rich.

If you had 10 pounds, converted it into us dollars = $17.36, then converted again = 170,898 Rupiahs

If you took 10 pounds and converted it straight into Rupiahs, guess what, it works out at 170,928 - basically the same. The only reason it is slightly different is because of the rounding that goes on when converting through another currency. And of course, each conversion will cost something, so it is far better to convert directly.

If you cash is currently in USD, take them because you'll lose less in conversion fees. If you have GBP, take them. If you have Australian dollars, take those. As long as you can readily exchange them, it really makes no difference. But, just remember; the less conversions the better!

'twice as rich' you know what i mean...

what peter said is a very good point, bring whatever currency you have, the least conversion the better, basically dont change to USD if you have pound sterlings or euros, thats the mistake most people make when coming from european countries.

happy dayz
peace
:)