I am a Vietnamese businessman traveling to the US via Singapore. I was told that if I exchangde my VND for USD in Singapore, I would get a better deal than if I tried to do an exchange at a dealer in Saigon, where the quoted rates are V21000/$ Bid and V22000/$ Ask.

When I arrived in Singapore, I went to an exchange dealer and I saw the following quotes:

	Bid	Ask
S$/VND	0.00006	0.00016
S$/$	1.34	1.38

I told the dealer I want to exchange my VND for USD. He said he will have to do two transactions:

1. Convert my VND to SGD at the Bid rate.
2. Convert my SGD to USD at the Ask rate.

I felt uneasy about this deal. Anyway, I did the deal. But I had some questions as I walked away:

1. Was there another way this could have been done? T/F
2. If done differently, I would have been better off. T/F