Each bank has a internal pricing system on the spot and spread of foreign currency. Let us examine the difference between this rate from the different banks.
Spot rate for AUD on 19 Jan 2012
Bank Selling Buying Spread
DBS 1.3421 1.3202 0.0219
UOB 1.3419 1.3139 0.028
OCBC 1.3513 1.3156 0.0357
From this, we see that DBS offer the lowest spread among the local banks, so those interested in Foreign Currency Fix Deposit can consider opening an account with DBS to take advantage of the spread.
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