Quote:
Originally Posted by nono1973
I do read every post,but yours happens to have a little greasy and not easy to understand until i did a calculation using Bro Auth's forex calculator. Maybe i will spell it out in simpler form what you actually mean to help the rest understand :
Currently at this time of forex exchange rate :
1USD = 12 000 IDR
1USD = S$0.80 which is 20% of 1USD
Direct SGD to IDR on forex calculator:
1SGD = 9470 IDR
If i change 1USD i will get 12k rupiah,and minus 20% becos 1SGD = 20% of 1USD. So i will need to use 12k minus 20% to get the amount of of 9600 IDR/SGD.
The above is when i change SGD to USD,then use it to change to IDR.
Now i use 1SGD to change directly to IDR will be 9470 IDR.
The profit i make from changing SGD to USD,then to IDR over direct exchange from SGD to IDR : 9600 - 9470 = 130 IDR per USD.
If i use 500 USD to change to IDR,the amount my profit from the exchange rate will be 130 IDR x 500 = 65000 IDR over SGD to IDR.
I am calculating base on using the same money changer,changing my SGD to USD 1st,then convert it to IDR which will give me an extra 65000 IDR comparing to a direct exchange from SGD to IDR.
Correct me if i am wrong.
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In my opinion, if the currency is changed from
USD to sing$ then to rupiah, the exchange amount will most likely be less than
USD direct change to rupiah.
Reason being there is always the "buy" and "sell" rate for every currency. Every time when the currency was exchanged the money changer will make some profit.
Therefore the more times being exchanged, the more will be exchange rate loss for the customers.
If were to change
usd to sing$ to rupiah, the money changer will most likely buy your usd at low price and sell sing$ to you at high price.
And then buy your sing$ at low price and sell rupiah at high price...
Don't correct me if I am rite
