My attempt at doing something artistic!

I recently went to the Arcade to change more Pounds Sterling, since the exchange rate was favorable.

The Arcade is FULL of money changers, presumably with better rates for different currencies.

For example, the money changer I queued up for had at least 20 people ahead of me, and most were changing Thai Baht, Ringgit, Chinese Renminbi.

The spreads on offer are really low and competitive. These money changers obviously make money through volume.

Take Pounds Sterling as an example.
Spot Rate was S$2.0040 to £1.00 at the time when I was changing.
UOB preferential staff rates were $1.9950 buy and $2.0090 sell (70 pip spread)
The money changer I went to, the rate was $1.9970 buy and $2.0140 sell (85 pip spread)

Essentially, they make about $10 for every £1,000 you change.

The spread for US dollar ......