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29 March 2008

Currency Converter

There are a lot of currency converters in the internet but not all are useful and accurate, most of them can be used for reference only. Because I had tested it when I wanted to have my currencies exchanged to foreign currency. I used the internet and compare it to the current bank exchange rate, which is totally different!!

Usually I use the currency converter for reference only before I went to the bank to check. Of course you could use what is recommended by the local people, as this will enable you to get the closest rate.

Besides that the bank rate fluctuates as the time goes, so there is no fix rate in every hour that is what I had been told by the bank staffs.

A lot of people asked me where should they get the converter, well I told them just call the bank for the current rate instead of using the inaccurate converter, this is due to semi-form efficiency market.

If you still wish to use the converter then you will have to learn to adjust the rate difference. Maybe there will be +/- 0.1 difference between the converter and current bank rate. Good luck

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