2007-03-12 08:37:41 · 8 answers · asked by Anonymous in Travel ➔ Asia Pacific ➔ Singapore
they short change you.
2007-03-12 13:23:39 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Money changers make profits from the bid and offer price.
2007-03-12 22:04:39 · answer #2 · answered by Tan D 7 · 0⤊ 0⤋
In general their spread (difference between their buying and selling price) are bigger than the spread of their supplier (how they can buy and sell the currency) because they deal with bigger volume.
Without external supplier, their customer become the currency supplier for them and if they can get big enough volume, the profit should be able to compensate them from any money market risk
2007-03-13 02:38:25 · answer #3 · answered by ialsowanacondo 2 · 0⤊ 0⤋
Money changers make money by giving you a slightly poorer rate, or they charge you a fixed rate per transaction, or both.
2007-03-12 15:49:36 · answer #4 · answered by anne d 1 · 0⤊ 0⤋
Their exchange rate varies and i believe they will go to the bank and having a big sum of money to change, their rates will normally be better .... I think they must have a lot of extra cash to make things work..
2007-03-14 01:02:44 · answer #5 · answered by aUDREy TTT 5 · 0⤊ 0⤋
buy it at lower rate and sell it on a higher rate
2007-03-12 22:19:24 · answer #6 · answered by anderson 6 · 0⤊ 0⤋
hugh spreads and fee
2007-03-12 17:03:43 · answer #7 · answered by sel_bos 3 · 0⤊ 0⤋
By slight of hand. They steal from you
2007-03-12 16:06:35 · answer #8 · answered by Anonymous · 0⤊ 2⤋