The US dollar was selling at RM4.14, the Singapore dollar at RM3.01 and the Japanese yen (100) at RM3.80 as at the opening of trading at 9.01am.

There was some renewed buying interest for the local currency, however, in line with the better equity market. That showed in the three sen increase in trading against the euro, which opened at RM4.61 against yesterday’s closing of RM4.64.

The British pound strengthened though from RM5.96 yesterday to RM5.98 this morning.

Getting the best price for ringgit when sending money overseas is coupled with the most convenient way to send it too, thanks to the e-Remit app by Merchantrade Asia.

Picture the convenience of being able to just whip out your smartphone, and immediately transfer money overseas to loved ones.

With e-Remit, money transfers can be a quick process that takes only a few minutes.

“Right now our customers comprise Malaysians who need to send money overseas. We also have a large number of expatriates who are using the app regularly.

“They can remit money to any part of the world as this service is available in 200 countries,” said Merchantrade’s executive vice-president Sarveswaran Raja Gopal.

There are plenty of positives to this app, but one that stood out was the fact that the recipients do not need to have a bank account overseas. They can opt to pick up cash at Merchantrade Asia’s partnering banks instead.

“Our fees are much cheaper, ranging from only RM10 to RM15 per remittance. And with our favourable foreign exchange rates, the customer benefits by paying less for the transaction than the alternatives modes of remittance.

“Our delivery time is also much faster. The recipient can collect the money within 10 minutes after you have sent it via the app,” Sarveswaran explained.