Money Exchange Rates

Question 1

Are we allowed to use S$ in Thailand to buy a cup of tea?

Answer 1

No, every country has it’s own currency and we need to use that country’s curreny to buy things

Question 2

How do we get another country’s currency?

Answer 2

We go to Money Changers and exchange our S$ for that other currency.

Question 3

Why is there 2 rates of exchange for each currency?

Answer 3

The money changer

Buys AUD$1 for S$1.02

Sells AUD$1 for S$1.071

Question 4

Which rate does the Bank sell CAD $1

Answer 4

S$1.06

Question 5

Which rate does the Bank buy Swiss France $100

Answer 5

S$137.23

Question 6

Which rate do you use to buy Swiss France $100

Answer 6

S$142.719

If we want to buy, we must choose the rate that the bank sells.

Question 7

Which rate do you use to sell CAD $1

Answer 7

S$1.02

If we want to sell, we must choose the rate that the bank buys.

Question 8

I wish to sell CAD$50, how much S$ will i get in return?

Answer 8

S$1.02 * 50 = S$51

Question 9

I wish to buy AUD$50, how much S$ must i give?

Answer 9

S$1.071 * 50 = S$53.55

Question 10

I wish to buy CAD$200, how much S$ will i need?

Answer 10

S$1.06 * 200 = S$212

Question 11

I wish to sell AUD$200, how much S$ will i receive?

Answer 11

S$1.02 * 200 = S$204