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Forex Exchange Rate While Travel


One of the major concern to travel oversea is to get a better exchange rate at local exchanger. I use to check from Money Master or Money Changer (Mid Valley rates) website recommended from a friend of mine and found that the rate are almost the same as I get it from M. Mohamed Kassim Forex Penang located at little india. Advise to make a call to confirm before direct approach the forex exchanger. Why? I have an experienced that the rate mentioned through the call much better than when I approached there. Luckily, the boss gave me the rate as per mentioned in the call. After all, it is your luck to approach the “right” exchanger to provide you the better rate. 😕 One thing to highlight, I am not advertising on behalf of the mentioned forex exchanger but it is the local exchanger in Penang that provide much better rate after compare few from mainland until island.

Citibank Master/Visa credit card as well provide better exchange rate while swipe at oversea. I had prepare the table listed the exchange rate along my travel to those countries. Don’t get confuse that I travel to US each year started by year 2013, it was just to show you the exchange rate charged by Citibank against my Flickr subscription fees in USD.  😎

*Best exchange rate highlighted in RED

Year Country Local Money Exchanger Rate Citibank Exchange Rate Local Money Exchanger Rate
(Jul 2016)
2008 Japan 27 ~ 28¥ / RM 30 ~ 31¥ / RM  25¥ / RM
2010 Japan 26 ~ 27¥ / RM 26 ~ 27¥ / RM 25¥ / RM
HK N/A 2.37HK$ / RM 1.92HK$ / RM
2012 Taiwan 9.3NT$ / RM 9.42NT$ / RM 7.84NT$ / RM
2013 Taiwan 9.1 ~ 9.2NT$ / RM 9.4 ~ 9.5NT$ / RM 7.84NT$ / RM
US N/A 3.15 ~ 3.22US$ / RM 4.02US$ / RM
2014 HK 2.35HK$ / RM 2.3HK$ / RM 1.92HK$ / RM
Japan 32 ~ 33¥ / RM 33.7 ~ 33.8¥ / RM 25.3¥ / RM
US N/A 3.4US$ / RM 4.02US$ / RM
2015 Korea 290 ~ 292₩ / RM 291 ~ 293₩ / RM 282.4₩ / RM
US N/A 3.68US$ / RM 4.02US$ / RM
 2016 US N/A 4.24US$ / RM 4.02US$ / RM

For last row (2016) of USD exchange rate shown higher on Citibank due to the MYR currency dropped drastically earlier the year of 2016 which it started to go strong after June 2016. Conclusion, Citibank credit card provide better exchange rate while travel oversea. Still, you needs to bring enough cash with you because not all of the oversea stores accept credit card payment.

What I foreseen while travelling oversea on the money matters?
Japanese preferred transaction in cash.
Those who request to make the payment in credit card majority are the foreigners. 😎
The cashier will repeat and mentioned clearly the amount that you gave before put into the cash machine and returned the balance by counting and showing in front of you before handed the receipt to you. (hand claps!)
Almost zero mistake the cashier make.

Taiwanese having the same culture as japanese but not really all will followed.
As well less mistake the cashier will make. I guess most of the Chinese very sensitive when touch about money matters 🙄

They don’t mind you give extra by mistake but you can never got a chance to give less even 1cent. 😆
Fast and accurate is always their priority else there will be many spotlights concentrated on you to alert on your slowness. 😳

You should always recount the change been returned by Korean cashier. I have no idea why the cashier always make the same mistake to return less change for most of the transaction. Was it due to the numbers of KRW too big?! 😕


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