Re: Chinese RMB rates..
 

4.895 over the ppc. :)

Re: Chinese RMB rates..
 

hi, any kind bros can update or provide info on the lastest RMB T/T trasnfer rate at PPC?? thanks and would appreciate. BTW, over the counter exchange rate is it owis better than using T/T option? thanks

Re: Chinese RMB rates..
 

Of course ...

T/T rate is lower i think quite a bit... call western union to check.

Re: Chinese RMB rates..
 

TT usually have lower rate as its a service from bank. Bank rates are always lower. Other means of money transfer may be slightly better (1-2 cent higher?). But irregardless TT or other means of transfer, you still have to factor in the service charges.

Eg If I remember correctly, HanSheng at PPC charges $18-20 for each money transfer/wiring.

For Bank TT, its 1/8% of S$ equivalent of remittance amount, usually subject to minimum S$10 and maximum S$100

In summary, counter exchange is always better unless you have a need to transfer money into a China bank account or worried about carry too much cash into China.

Hope this helps :)

Re: Chinese RMB rates..
 

Yes it's true that if u transfer fund thru bank, u will get a lower rate. Also the charge will be higher.

But if u TT money thru pte like Hansheng at PPC, u will get a better rate than change money over the counter exchange.
Example
Counter exchange offer $1 - Rmb 4.88
most of the time,
TT(Pte) offer $1 - Rmb 4.89-4.90
Bank TT offer $1 - Rmb 4.86 (long long time no use bank liao)
But remember that this type of pte TT comes with a charge(手续费). normally $10-18. PPC mostly is $15(poor rate) - $18.

So u need to TT around 2-3k to even out the TT charge.

Choose the type of service more suitable for u.

Re: Chinese RMB rates..
 

hi.. thanks alot for your views. can i conclude it would be adviseable to go money changer if i wanna change RMB for less than SGD2k since the Pte remittance counters charge a fee ard $10-18, and so if i wanna convert over S$3k than just visit the remittance as the rates are better and the charges are breakeven ard that amount..
thanks :p :p

Re: Chinese RMB rates..
 

If cost is your only consideration, yes.

Obviously, you cannot use the remittance agent route if you does not have a RMB account with a bank in China. :D:p

Re: Chinese RMB rates..
 

it's very hard for me to tell u which is the best for u.

I dun even know how much u willing to spend.

Also u need to have a bank account in china before u can even think of remit money to ur account like what Coolmanks mention. Dun think u want to remit to ur gals right.. wait dun know where the money will goes to.. ha ha

But it's very very easy to open a bank account in china anyway. just a passport will do. also dun need to deposit alot of money. i dun remember got any min like singapore.

Also i'm quite surpise of the internet service they provide. quite good. I think maybe better than DBS if not on par.

Re: Chinese RMB rates..
 

Thanks bro for the detailed information and analysis :D:D

Re: Chinese RMB rates..
 

Any 1 got the update on recent rates?

Re: Chinese RMB rates..
 

Just changed this afternoon at Change Alley. Rate: 4.82.

Re: Chinese RMB rates..
 

Thanks for the update, wah sian the rate dropping so fast, was like 4.88 or 4.9 last month eh...

Re: Chinese RMB rates..
 

based on the various signal coming out internationally and domestically in PRC, expecting the RMB to appreciate against the USD by year end. I know that those that have DBS account in PRC, can use their card to withdraw $$ from ATM in Singapore w/o charges, limit to a few hundred a day. Not sure if the reverse is true so some bros may want to check it in Singapore. Of course that is assuming the place you are in have DBS ATMs, like Beijing or Shanghai.

Re: Chinese RMB rates..
 

Was at PPC crante ard 3pm.
Changed sin to rmb.
Rate: 4.78:(

Cheers!

Re: Chinese RMB rates..
 

Haiz ... see the exchange rate of SGD to RMB keep going down, i more down, going in march yet it keeps droping !! omg..

Re: Chinese RMB rates..
 

Tiong Bahru $4.62

Re: Chinese RMB rates..
 

OMG:eek: Wonder it will go back up to .80:rolleyes:

Re: Chinese RMB rates..
 

Re: Chinese RMB rates..
 

No worries, that the carrot head prices. Rate is lower but not that low yet!:D Interbank rate still around 4.80, so money changer can get 4.75 at least.

Re: Chinese RMB rates..
 

Dun know after cny RMB it up or down le......:o

Re: Chinese RMB rates..
 

I am fine...Tks bro! How's life in HCM? When we gonna cheong CP again??;)

Re: Chinese RMB rates..
 

yesterday tt rate was 4.78

Re: Chinese RMB rates..
 

Nice to meet up with u in sinland....
So i see u in cp on 27 march???:p

Re: Chinese RMB rates..
 

Steady lah finally can meet up with my sifu in CP again! :D What about CASH KING? :confused:

Re: Chinese RMB rates..
 

1st, me not your sifu...just another cheong-ker like other bro and you..
2nd..me only go if bro MKM going on 27march...as that day is his day...so have not do any thing yet......
3rd....and will call you for kopi if i in CP...:p

Re: Chinese RMB rates..
 

Looks like the RMB rate is going up !!

Hope it is due to chinese new year, after CNY faster change lol ...
China almost everything stop production seh ... hope that is part of the reason.

Re: Chinese RMB rates..
 

Today exchange rate at Arcade is 4.80.

Re: Chinese RMB rates..
 

Yo bro! Will update u about end march trip early next month...Need to check my work/trip schedule...

Re: Chinese RMB rates..
 

Today I went to both Chinatown and Arcade to check and change Rmb. My friend always change at Chinatown as he claimed the rate is the best.

Actually the different is insignificant if you compare the best rate between the places. But the difference within the same location can vary substantially.

Chinatown - 4.8 to 4.815
Raffles Place Arcade - 4.78 to 4.82

For Rmb 10000, the differnce in Sing dollars is between $2092 to $2074.7.
$17.30 difference.

Re: Chinese RMB rates..