Currency, as we know it, is a result of a period of evolution. Long time ago, there were no coins, there was only barter – simple exchange of goods for goods. Now, money (i.e., in the form of coins, paper, etc.) around the world has its equivalent value.
When you travel, it is quintessential to find a good place to change the currency of your money. Luckily for travelers, Singapore provides a wide array of reliable and licensed money changers that offer best rates for most foreign currencies. If you are unaware of the best money changers out there, here is a swift list for you…
1. PEER TO PEER – MARCO POLEE (Update: 15 Sep 16)
Since our article has gone out, we’ve discovered Marco Polee – a currency exchange platform that networks people to exchange currency between each other. Customers can create a new listing, which consists of where they’d like to exchange, and the amount. The best bit is that the exchange rate is locked to the market exchange rate (midmarket rate)! With absolutely no fees, no commissions, and the ability to exchange at market rates – this service is definitely worth taking a look at. Marco Polee’s goal is to provide travellers with a better option as they believe the people deserve better than to lose money just to exchange currency.
Website: Marco Polee
2. PARKWAY PARADE
Do you live around the Katong area? Parkway Parade Shopping Centre, a building with about 300 shops, is the most convenient place for you to change your money. In here, the suggested money changers are located at the Level 1 as it provides the best rates for THB, USD, JPY, MYR, and HKD.
Suggested Money Changers: Sino Money Changer, Yakadir Enterprises, Everpeace Money Changer, and Parkway Money Changer
Address: Parkway Parade 80 Marine Parade Road, Singapore 449269
3. THE ARCADE AT RAFFLES PLACE
A busy business center in Singapore, Raffles Place has proven to be a good place for changing your currencies. Offering good rates for USD, GBP, EUR, JPY, THB, MYR, and TWD all year round.
Suggested Money Changers: Arcade Plaza Traders Pte Ltd, Sheen International Exchange, People’s Corner Money Changer, and Arcade Money Changers
Address: The Arcade, 11 Collyer Quay, Singapore 049317
4. PEOPLE’S PARK COMPLEX CHINATOWN
An old building located at the heart of Chinatown, People’s Park Complex, is one the most famous places to exchange your money. The money changers here are numerous that you can compare rates by hopping from shop to shop. Nonetheless they offer good rates for CNY, PHP, THB, HKD, and MYR.
Suggested Money Changers: Today’s Money Exchange, Crante Money Changer, AK Money Changer & Department Store, and Emerald Money Changer
Address: People’s Park Complex 1 Park Road, Singapore 059108
5. LUCKY PLAZA
For tourists that are around the Orchard area, money changers at Lucky Plaza is your most convenient choice. With shopping centers around the area, it is a good place to exchange rates for PHP, MYR, and THB.
Suggested Money Changers: Rahiman Trading, Rabi Trading, Fajar Money Changer, and True Blue Money Changer
Address: Lucky Plaza 304 Orchard Road, Singapore 238863
Image Credits: epSos .de via Flickr
Remember to compare the rates in different money changers in the building to get the best rates! Some money changers offer updates via their website so, be aware of that.
(* Now that you’ve get the best of your exchange rate, use our hotels search engine to search for the best price guaranteed hotels: http://hotels.moneydigest.sg)
