22 Oct, 09:19AM in sunny Singapore!
Home Chit Chat

question on foreign exchange

Subscribe to question on foreign exchange 19 posts

Please Login or Signup to reply.
  • pqr's Avatar
    2,664 posts since Jun '04

    • Currency Unit Selling TT/OD Buying TT buying OD
      US Dollar 1 1.6630 1.6480 1.6420

      What does the TT and OD stand for?

      If i want to buy US$, do i get it at the rate of 1.663 under their selling TT?
      Pls advise. Thanks

  • SMAPLionHeart's Avatar
    10,413 posts since Feb '05
  • charlize's Avatar
    31,122 posts since Mar '05
    • Originally posted by pqr:
      Currency Unit Selling TT/OD Buying TT buying OD
      US Dollar 1 1.6630 1.6480 1.6420

      What does the TT and OD stand for?

      If i want to buy US$, do i get it at the rate of 1.663 under their selling TT?
      Pls advise. Thanks

      If you want to buy USD, you will get the rate of 1.6630.

      ie. SGD166.30 will buy you USD100.

      If you are selling USD, then you use the other rate ie. 1.6480.

      ie. USD100 will get you SGD164.80.

      I am not too sure about OD though. Probably Overdraft rate.

      Laughing

  • SMAPLionHeart's Avatar
    10,413 posts since Feb '05
    • Anyway, i suppose 1 of it , the highest is the buying price for a unit
      the lowest is the selling price...

      the one neither here nor there should be the official exchange rate...

  • elindra's Avatar
    59,279 posts since Jun '04
    • Well I do know in banking terms

      TT = Telegraphic Transfers
      OD = Overdraft

      Bank will buy at lower rate and sell the currency to you at a higher rate

  • pqr's Avatar
    2,664 posts since Jun '04
    • Originally posted by elindra:
      Well I do know in banking terms

      TT = Telegraphic Transfers
      OD = Overdraft



      Thanks elindra.
      So will get at the rate of 1.663 when i pop into the bank to buy US$?

    • Originally posted by SMAPLionHeart:
      All i know is that...you buy at a higher price...
      u sell is lower..

      i already know that..thanks

  • elindra's Avatar
    59,279 posts since Jun '04
    • Originally posted by pqr:
      Thanks elindra.
      So will get at the rate of 1.663 when i pop into the bank to buy US$?

      Err exchange rate change all the time. Depends on how big the change to see if they actually adjust it. It should be around there unless their is a spike or drop due to some earth-shattering news. I've been away for over a week and it is now 1.663 Shocked That is damn high.

  • io's Avatar
    339 posts since Feb '00
  • pqr's Avatar
    2,664 posts since Jun '04
    • Originally posted by io:
      try overseas banks eg HSBC or Citibank. see if they offer something better.

      they do not show their exhange rate online? i cant find

  • littlestream's Avatar
    20,685 posts since Apr '05
    • Originally posted by pqr:
      Currency Unit Selling TT/OD Buying TT buying OD
      US Dollar 1 1.6630 1.6480 1.6420

      What does the TT and OD stand for?

      If i want to buy US$, do i get it at the rate of 1.663 under their selling TT?
      Pls advise. Thanks

      These rates only apply if you are doing THAT specific transactions. For cash, go check at the board in a branch or give them a call. But the rates changes eh? So, if you are serious, booked that rate and reserve the cash. Hope that's how it still works. Give it a shot. Smile

  • kaobeikaobu's Avatar
    7,926 posts since Feb '04
    • Originally posted by pqr:
      they do not show their exhange rate online? i cant find

      think have to register one...they get all the rate feeds from all over the world.

  • BITCHY_BITCH's Avatar
    1,860 posts since Apr '05
  • kaobeikaobu's Avatar
    7,926 posts since Feb '04
  • BITCHY_BITCH's Avatar
    1,860 posts since Apr '05
    • Originally posted by kaobeikaobu:
      he referring to banks lah..nt yahoo lah...
      Laughing

      IT IS the SAME. Still exchange rates mah... Rolling Eyes

  • gentlerock's Avatar
    2,421 posts since Dec '04
    • I watch the SGD, EUR and USD carefully each day because my company deals with all these currencies. I also handle T/T monthly (both receive and send). As somebody had already answered your questions, I won't repeat the answers. However, I have to say that if you're buying USD, watch the rates carefully.

      I don't know which bank you're using, but my bank (DBS) do have their rates on-line.....although by the time you reach the bank, the rates may have changed already.

      Lots of good economic news have been coming out of the US these past days. Deficit is down, durable goods orders up, home sales up, etc....coupled with the bad news coming out of the Eurozone, its pushing the USD up.

      I'm surprised that the USD fell tonight after the good news which emerged....but I suspect that it will go up again in the coming days.

      So watch the SGD-USD rates carefully.......

      (I'm stopping one step shy of telling you to buy USD as soon as possible because that would be trying my hand at fortune telling....and I can't be sure that its the right choice).

      If you're just changing SGD cash to USD cash....then just go to any money changer. They may have better rates than banks.....and if you're changing big amounts, you can bargain with them for better rates too.

  • kaobeikaobu's Avatar
    7,926 posts since Feb '04
    • Originally posted by BITCHY_BITCH:
      IT IS the SAME. Still exchange rates mah... Rolling Eyes

      on surface they make no difference...just informational...for people who dun trade.
      but the rates between them are definitely different...dun know how banks work with third-parties rate feeds on information rates..maybe someone here can explain that.
      and the tt/od info provided by the banks.a few cents difference can burn a big hole if the volume is huge.

      Edited by kaobeikaobu 25 May `05, 11:07PM
  • pqr's Avatar
    2,664 posts since Jun '04
    • Originally posted by BITCHY_BITCH:
      IT IS the SAME. Still exchange rates mah... Rolling Eyes

      i have found out is not the same...

      Yes they are exchange rate but if you want to buy foreign $ from them is different from their "TT/OD rate".

      UOB website have 2 rates; 1 for TT,the other for selling foreign $

Please Login or Signup to reply.