Commentary
OFW Corner:”Buying or Selling?”
By: Hensie Tumbagahan
I once asked a cashier in a remittance center, “Bakit mas mataas ang selling kaysa sa buying rate? Ano ang pinagkaiba ng notes sa TT (telegraphic transfer ang meaning niyan ha?)” 
Kahit sa workplace, oftentimes when a client wants to pay in dollars, euros, or pounds the exchange rate is lower than supposedly current rate. (Ang daming naiirita dito, pramis!) 
Pasensya na, I’m just following orders.
Madalas kong sagot ay, “This is the standard finance guide of the company. You may have a choice to pay according to what’s most likely benefits you.”
Kaya hindi ko tinigilan hangga’t hindi nakukuha ang Mathematics formula ng padala centers. No need for Algebra and Geometric equation sa basic accounting ng buhay. Ito lang ang dapat na marunong tayong gawin (+-รรท).
No need for Algebra and Geometric equation sa basic accounting ng buhay. Ito lang ang dapat na marunong tayong gawin (+-รรท).As an illustration:
If an OFW, gustong magpadala today ito ang currency exchange rate ng remittance center sa La Digue, Seychelles. Mamimili siya if the reciever will get the money through bank or a remittance center sa Pilipinas.
If napili niya ay bank, we will refer to TT/Drafts buying and selling rate.
If napili naman ay remittance center, we will refer to notes.
If we’re going to send 20,000 in Philippine peso how much will we pay in local currency including the charge (80 Seychelles rupees)?
