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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

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Old 01-24-2006, 02:55 AM   #1
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One Asian currency to another via the $

Does it mean more money If I convert one Asian currency (into Euros/Pounds or Dollars first) and then convert it again to another Asian currency,

For example,

If i have 3000 Malaysian Ringit and I want to convert it Vietnamese Dong, should i change it to US dollars first or British pounds and then change that western currency to the Dong?

Or would I be saving time in just changing the Ringgit to Dong upon arrival in Vietnam?

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Old 01-24-2006, 05:50 AM   #2
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Is your home currency an asian currency? I think to be honest it would be pointless changing all this currency over to the or the $ if you have a debit card? You may lose more on paying charges etc

currently you can get:
3,000.00 MYR
Malaysia Ringgits = 12,745,367.63 VND
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Old 01-24-2006, 06:25 AM   #3
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Each time you convert from one currency to another you usually pay two different fees. There usually is commission charged on the transaction in the form of a percentage of the amount or a flat fee. There is also a spread built in to the buy and sell rates that exchange places offer, that is what they will buy a currency for will be less than what they're prepared to sell it for.

Exchanging to a third currency will just wind up with you out of pocket TWICE for the commission and the spread.
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Old 01-24-2006, 09:33 AM   #4
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^I agree. Simplest rule is to minimize the number of currency transactions you make. You lose big time every time you exchange.
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