On November 21st, I did some transaction with the paypal, In the transaction I selected SGD as my transaction currency.
Since my credit card is in Brunei Dollar, paypal has to convert my transaction to Brunei Dollar first before I can made the payment. (there is no option in paypal to straight away to choose BND currency)
But it was funny to notice the transaction rate which was supposed to be SGD1.00 to BND1.00 was happened to be BND1.00 to SGD0.973454! I never know that our Brunei dollars is kinda cheaper than Singapore dollars!!
"A currency interchangeability agreement was established between Singapore and Brunei Darussalam, which remains in effect till today and continues to play a central role in relations between the two countries. This agreement allows both countries to interchange their currencies at par without either country running the risk of currency exchange rate fluctuations and thus further facilitates trade and commerce between the two countries. The individual currencies are acceptable as customary tender when circulating in the country in which they are not legal tender." - http://www.finance.gov.bn/bcb/bcb_index.htm
I wonder where does paypal get the non 1:1 exchange rate of Brunei to Singapore dollar ?
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