Are you also confused about We Sell and We Buy for currency exchange? Here are some tips on how to read We Sell and We Buy.
When you go abroad, you will exchange foreign currencies in advance, but when you exchange currencies, foreign exchange merchants will put together a list of We Sell and We Buy, and many people will not know how to read the exchange rate.
In fact, the principle of currency exchange is very simple, that is, when you want to exchange from RM to foreign currency, you should look at We Sell, and when you want to exchange from foreign currency to RM, you should look at We Buy.
Generally speaking, the price of We Sell is higher than We Buy, so when you want to exchange from MYR to foreign currency, you should look at the higher price.
Here is an example of a SGD exchange. The We Sell price is RM3.248 and the We Buy price is RM3.235.
When you are converting from MYR to SGD, you need to look at the We Sell, which is RM3.248, and you need to pay RM3.248 to get 1 SGD. As for when you are converting from SGD to MYR, you need to look at We Buy, which means you will get RM3.235 when you exchange 1 SGD.
Here is a compilation of the exchange rate principles, so that you don’t have to worry about which one you should look at when exchanging currency in the future.
Principle 1: When you are exchanging from RM to foreign currency, you should look at We Sell.
Principle 2: When you want to exchange from foreign currency back to RM, you should look at We Buy.
