Money Changers in Johor Bahru

I noticed that the money changers in Johor Bahru and even in Kuala Lumpur have common rates unlike in other countries such as Singapore and Indonesia. For example when I visited Johor Bahru yesterday, the currency rate for Ringgit to Singapore dollars was quoted at RM241 to $100 Singapore dollars. All  the money changers there would followed the same rate. Whereas in Singapore, I would normally go to the Arcade Building in Raffles Place to change my money. Over there you will see different rates quoted by different money changers.

 

It is better to change your Singapore dollars into Ringgit in Singapore before visiting Malaysia. In Johor Bahru yesterday, the rate of exchange was RM241 to S$100. In Singapore the rate of exchange is RM243/4 to S$100.  So I would get more value for my Singapore dollars when I changed it in Singapore. I just wonder why is it that the money changers in Malaysia are unable to offer attractive rates of exchange unlike in Singapore? Is is because they conspired to squeeze higher profit margins from travelers especially those from Singapore?

Many of my friends had already advised me to change my money in Singapore than in Malaysia - you get more Ringgit for your money here. I will follow their good advice.