For the record and part of the reason we are traveling to Singapore/Malaysia is currency. The exchange rate even with the weak dollar is still good for us.
Malaysian money is called the Ringold or Ringgit and currently exchanges at 3 MYR : 1 USD - Very nice!
Singapore on the other hand is called the Singapore Dollar and exchanges at about 1.30 SGD : 1 USD - not bad.
Currency like this you must order days in advance of your trip. Shop around at various banks. They’ll usually give you the current daily rate (or maybe just a bit more depending on institution.) Never ever ever assume you’ll just fly over and exchange it in country. You will get hosed terribly. Been there done that. It’s not worth it. Unless you have a friend who has account at local bank where you’re visiting, always arrive with enough cash already exchanged - ATM’s are fairly convenient as well, but avoid ‘em if you can. The rates are usually good, but then you get all those “international ATM usage charges” which may only be .90cents, but still - avoid if you can.
While I try not to travel with too much cash on me, it’s nice to have in some places as credit just isn’t an option. Tiffany ordered and picked up our cash a few weeks back so we’re set here.
Again - We try to use credit cards when possible - it’s easier, it’s less to carry around, and your credit card company usually gives you the day’s exchange rate.
*Travelers Note! : This happens often in Europe, so we’ll see if it’s the same in Asia. Yes, I have been hit by this before. All apart of learning but you’re getting this info for free so listen up!! Some stores will allow you to purchase using a credit card and offer a “currency conversion” for you on the spot. This allows you to get a receipt in your native currency. Wow! How convenient right? Instead of wondering how much that £99.45 item really cost, you’ll know it cost $196.45 USD! “That makes it easy to keep track of your money” you say - and yes, you’re partially right. But here’s the catch, they use THEIR OWN in-store currency exchange - meaning, they’ll probably tack on a few extra dollars just for the “exchange” - and trust me…it’s usually comparable to the rip-off exchange rates that you find at the airport or lining Oxford Street in London. Stay clear!!
Just make it simple - know the exchange rate and be able to do simple conversions in your head - that way you won’t need these “convenient” / “rip-off” services. When we visited Italy in 2006 the exchange rate for the Euro was $1.20 = 1 Euros- So basically every 4 Euros spent was 5 US dollars. 8 = 10. 12= 15 and so on. It was real easy to shop, eat, etc. because we knew exactly what we were spending give or take a few pence/cents and coming up with a quick ditty to figure it out in shop without calculators, asking, and/or expensive “we’ll exchange the money for you!!” is very satisfying - Tuck that bit of info in your pocket somewhere because you’ll need it on your own adventure! It’s info like that that will be in my book!