Wanted to start writing on my travel guide for Japan but I figured that many people just cannot understand FX (foreign exchange, it's just a big word for trading of currencies). For us layman's, we go to the money changer and get some foreign currency when we're travelling.
*Note: in many countries, an isolated store for money exchange is not common. People go to their banks, which we all know, give shit rates. Some others choose to exchange their money at the airport.
Whichever floats your boat, it's not my money.
So, here we go:
Remember in Secondary School when your textbook said "John has 5 SGD and the money change Mr. Muthu buys Euro @ 0.77 and sells Euro @ 0.67. How much Euros can John receive?"
Buy Sell
Euro 0.77 0.67
I can never forget how these questions were always racist but it's true that the indians are good with numbers. Anyway, here you go, 2 simple rules.
Remember,
1) the money changers are smart, they will always earn a margin.
2) you have to understand which currency is stronger & how are the denominations of things in that country. This principle don't change often so it's easy.
If you aren't sure which rate to use (BUY or SELL), consider the following scenarios where John changes 5 SGD into Euro and using that Euro, changing back into SGD on the SAME day with the SAME given rates.
Scenario A) Using 0.77 to change into Euro
Muthu takes the $5 and gives John 3.85 Euro (5*0.77).
John wants to change that back into SGD so Muthu will use 0.67 now and John gets $5.74.
Good deal for John!
Scenario B) Using 0.67 to change into Euro
Muthu takes the $5 and gives John 3.35 Euro (5*0.67).
John wants to change that back into SGD so Muthu will use 0.77 now and John gets $4.35.
Good deal for Muthu!
Simply, the money changer wants to earn so he's going to go with Scenario B.
And it's scenario B because when he gives John Euro, he is SELLING Euro --> 0.67 SGD to 1 Euro.
Some FX terms to help you understand the news:
appreciate = value goes higher --> 1USD = 60 yen
depreciate = value drops --> USD = 90 yen
Saturday, 31 January 2015
Sunday, 25 January 2015
Making the move: about being lost and doing something about it.
I've moved!
So you'd probably read about me quitting my job.
Here's me having moved out of Singapore and finally settled down in my little space.
I'm not an expat, neither am I living in a big, fancy city.
Most of all, which I believe would be most people's concern, I'm earning about half of what I used to make.
Sounds brave but it's not like I didn't feel afraid.
And I'm not saying I'm above everyone else having overcame all that.
Actually, just the other day I got into a panic attack at work.
Some of the kids are working so hard, studying, being active at school and striving for the best.
They made me felt so unaccomplished and so lost.
I haven't been doing anything about myself since junior college.
I think I screwed myself up since then.
It felt so bad my eyes were teary.
That's the truth of it.
Everyone tells me it's okay and I'm still young and maybe I can just do be here for a year.
Still, it's scary.
But I thought about how much more comfortable I would be back in Singapore with that boring job and... really, no advances made in my life. Maybe this feeling of fear and being lost is good.
Then, I went ahead with my day.
Always at the right time, some friends will send me some signs (e.g. horoscope/zodiac readings)
And Facebook at times, have some motivational stuff.
Next, a successful Japanese who has given up his Japanese nationality for more liberty and acceptance of himself gives a word of advice. Read it here at:
On a lighter note, my room is small but it's looking pretty awesome now.
Winter's cold and I worry about my weight :P
1) the snacks are better than weed (having never smoked weed before)
2) it's cold so I don't want to go out in tights and only tights
3) I haven't really told anyone yet but do you know I get real hungry at midnight?
I end work past 8 usually so dinner's about 9 or 10pm. After that, all I do is bathe and watch tv.
Still, I GET HUNGRY?!
------------------------------------------------------------------------------------------------------
Check out my instagram album #yayfaring for my travels in the new city!
Subscribe to:
Posts (Atom)