Money Talks Podcast: When to get the best exchange rates for foreign currencies

Secondly, in terms of these multi-currency wallets, bear in mind you’re not actually earning any interest when you convert into it. If you still retain your Sing dollars in your savings account, at least you’re earning something, not much, but at least something. 

So there is that opportunity cost of lost interest that has to be borne. It’s not going to be a large amount obviously, but it’s really around the potential for the rates getting better. So if you’re converting, say, the whole amount, then you’re missing out on any potential better rates. 

But on the other hand, it could also revert, and therefore in my mind, let’s not have any regrets, because whatever rate that you are changing is obviously a rate that you’re happy with, and you’re going to spend that amount anyway. 
 
Andrea: 
But that’s the thing, right? I’ve always often wondered, when do you know it’s a good time to change? Is it when everyone goes: “Hey, the US dollar has come down. I think better change now.” Or is there something that we can refer to as a gauge? 
 
Khoon: