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Best Spots For Exchanging Foreign Currency

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  • Queen of sgForums
    驚世駭俗醜不啦嘰 moderatress
    FireIce's Avatar
    265,641 posts since Dec '99


      If you’re the kind of person who scrambles to exchange money at the airport an hour before your flight, we highly suggest you reconsider your travelling habits – unless you don’t mind losing precious dollars, that could otherwise be spent on a good beer, to unfavourable rates. So, skip the lonely money changer at your neighbourhood mall and head to one of these 5 competitive foreign exchange hubs instead.

      The Arcade

      As the most popular spot for exchanging money in Singapore, you’ll find long lines of white collar workers nearly any time of the day due to a supply of all major currencies and decent rates. You won’t be waiting long though, as service is quick and highly reliable. While there are counters on all floors of the building, we find Arcade Money ChangersArcade Plaza Traders, and Sheen International Exchange to be the friendliest.

      Best rates for: USD, GBP, EUR, THB, MYR, JPY, TWD

      The Arcade is located at 11 Collyer Quay, Singapore 049317.

      People’s Park Complex
      Money-Changer-SG best money changer singapore

      The most iconic building in the whole of Chinatown (we never fail to be impressed by its striking green and yellow facade), People’s Park Complex houses a plethora of money changers – most of them right next to each other on the ground floor. Bargaining of rates is acceptable and recommended here, though you may want to keep in mind the long queue of people behind you. The more famous shops include Emerald Money Changer, AK Money Changer, and Crante Money Changer.

      Best rates for: THB, MYR, HKD, CNY, PHP

      People’s Park Complex is located at 1 Park Road, Singapore 059108.

      Lucky Plaza
      lucky-plaza - best money changer singapore

      In the heart of Orchard Road, Lucky Plaza is perhaps the most convenient location to exchange your money after your shopping. Since many of the counters do not display the latest rates, it’s a good opportunity to practice your bargaining skills. Be sure to make a comparison between the different brokers in order to get the best rates (then, spend your savings on a plate of delectable ayam penyet on the fourth floor). The more reputable shops here are Rahiman Trading, Rabi Trading, Fajar Money Changer, and True Blue Money Changer, all of them on the first floor.

      Best rates for: PHP, THB, MYR

      Lucky Plaza is located at 304 Orchard Road, Singapore 238863.

      Parkway Parade

      Are you an East-ie or better still, live around the Katong neighbourhood? Look no further than Parkway Parade Shopping Centre, a money exchange hub with excellent rates. We recommend staying on the first floor as most of the recommended counters – particularly Sino Money Changer, Yakadir Enterprises, Everpeace Money Changer, and Parkway Money Changer – are all located there.

      Best rates for: THB, USD, MYR, JPY, HKD

      Parkway Parade is located at 80 Marine Parade Rd, Singapore 449269.

      Mustafa Centre
      mustafa - best money changer singapore

      Mustafa is a haven for the night owl; where else in Singapore can you get toiletries, groceries, and even clothes at 4am in the morning? Naturally, the money changers in the building are also open 24-hours a day. Most of the money changers are located outside the building and in the basement, separated from the department store ‘enclosure’. Offering very competitive rates for a large number of Asian currencies, the most popular and reliable counter here is Mustafa Forex Exchange.

      Best rates for: IND, IDR, RMB, MYR, CNY, HKD, PHP

      Mustafa Centre is located at 145 Syed Alwi Road, Singapore 207704.

      Jurong Point

      If you live far out in the Wild Wild West, and can’t afford the time to travel to the city centre, make your way to Jurong Point right next to Boon Lay MRT station. While the rates here may not be nearly as good as the ones in the city, it still beats an hour’s journey back and forth just to save a couple of bucks (assuming you’re not changing more than a thousand dollars). We favour Raffles Money Change – an offshoot of the original exchange at The Arcade – down in the basement as well as Dollar Exchange on the first floor.

      Best rates for: MYR, IDR, HKD

      Jurong Point is located at Jurong West Central 2, Singapore 648886.



  • Chiayin's Avatar
    1 post since Feb '17
    • Generally speaking, foreign exchange rates would be better if there were a higher demand for a particular currency in that country. For example, the US Dollar would enjoy a good exchange rate in most countries since it is widely accepted.

      Since foreign exchange is a two way thing, what that also means is that a Singaporean travelling to the US would be better off doing his exchange at home in Singapore, where the demand for Singapore Dollar would naturally be higher. US Dollar rates in Singapore would also be competitive, given that all moneychangers in Singapore would be competing with one another for your business.

  • Sg.btcopys's Avatar
    9 posts since May '17
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