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Be the first to comment - What do you think?  Posted by admin - August 31, 2009 at 10:25 am

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Will a high exchange rate in currency be ignored only because it appeared shortly?

Hi,

On 8Jun, I got a USD/MYR currency exchange rate of 3.5460 through http://www.xe.com/ict/, however when I referred to the historical data in other website such as:

http://www.fxstreet.com/forex-tools/rate-history-tools/

and other websites illustrated by graphs, neither of them showed 3.54.

So just wondering is it possible that a rate will be ignored only because it appeared shortly?

Also, if I am looking to trade with bank, which website suit me better considering the above 2 links.

Sorry if it sounds like a stupid question.

Big thanks for help.

You are refering rates from different websites, it’s common that the rates will be different. And rates from such websites is only good for references, although I have no idea about your purpose for the rates.

In fact, even banks are giving different rates. For MYR, you will need to refer to bank based in Malaysia, as MYR can’t be traded outside Malaysia.

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