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Dollar to RMB : exchange rate

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Penang
Destination Expert
for Penang Island
posts: 702
reviews: 1
Dollar to RMB : exchange rate

Where can I find a good exchange rate at Shanghai? What's the rate now USD : RMB?

Dublin, California
posts: 10,292
reviews: 30
1. Re: Dollar to RMB : exchange rate

At a bank.

Beijing, China
Destination Expert
for Beijing
posts: 5,000
reviews: 82
2. Re: Dollar to RMB : exchange rate

http://www.boc.cn/sourcedb/whpj/enindex.html

Penang
Destination Expert
for Penang Island
posts: 702
reviews: 1
3. Re: Dollar to RMB : exchange rate

Is that means I can only exchange during office hour and I can't do it at night when I reach Shanghai? Is there any different if I exchange it at airport or in the City (Bank)?

Beijing, China
Destination Expert
for Beijing
posts: 5,000
reviews: 82
4. Re: Dollar to RMB : exchange rate

Bank rates are regulated and there is no commission. Anywhere else will give a poorer overall exchange rate but maybe inconsequential depending on the amount. You should be able to get RMB in Malaysia without any difficulty if you just need a little.

Magog, Canada
posts: 25,490
reviews: 457
5. Re: Dollar to RMB : exchange rate

Use your bank card at ATMs. They are open 24/7.

Melbourne, Australia
posts: 1,942
reviews: 154
6. Re: Dollar to RMB : exchange rate

Go to the ATM's ideally Bank of China is pretty good.

Keep your receipts so you can check with your bank if they have charged you any extra fee.

Check out companies such as Travelex currency online

I always use ATM or my chinese bank account depends where I am but ATM's are good in China.

a couple of tips for you.

By several packets of paper tissues as many places do not provide toilet paper or napkins. buy from street vendors. Cheap.

Have a card for each person in your group the name and address of the hotel written in Chinese Characters. keep it on you all the time. Good to show taxis drivers etc.

use credit cards or bank cards and ATM's.

Buy bottled water never drink tap water.

Edited: 5:33 pm, June 20, 2013
Miami Beach, Florida
Destination Expert
for Shanghai Region
posts: 6,374
reviews: 79
7. Re: Dollar to RMB : exchange rate

You always want to find out the "bank rate" which is a blend of the buy and sell rates of money traders. The "bank rate," not necessarily what you will get at a local Shanghai bank, is used to settled foreign currency transactions between banks. It is the rate most ATM cards use as the exchange rate, before adding fees, if any. (Remember China banks do not charge fees, but your home bank might change you an international fee as well as a non-homebank-network fee. Check your card before you leave.)

Pay no attention to buy, sell and commissions. They all have the trader's profit in mind.

For another source, see bankrate.com/calculators/…currencycalc.aspx

Shanghai, China
posts: 5,728
reviews: 47
8. Re: Dollar to RMB : exchange rate

Assuming that you dont really care much about the rate of exchange ,the Shanghai Pudong bank counter at the arrival hall .,at the bags carousel claim area opens till midnight.

Otherwise there are 2 HSBC ATMs machines just after stamping your passports and several other machines at arrival hall and at the exit hall.

There are also notes changing machines at the left far corner at the arrival hall carousel hallbut each maximum exchange not more than 2500yuan.

All banks can exchange your you at the city.

Even banks have money exchange counter.

Many good advice had been given earlier about the rates,you can digest on it.

Melbourne, Australia
posts: 1,942
reviews: 154
9. Re: Dollar to RMB : exchange rate

Outside the banks you will see many people with a bag slung across their chests. These people do not go near. They are anting you to exchange your money with them.

Walk pass them and into the bank. They are not allowed to enter the bank to do business. That is changing money with you.

The rates will probably change each day so depends on how urgent you need is. using your bank card or creit card or even a cashpassport is the best way and you can do it daily but check with your own bank n any other fees..

I do suggest you advise your own bank that you are going to china or overseas and that you will be using your cards from the start of your holiday to the end of your holiday.

If you have more than one person with the card such as you as the primary card holder and your partner as secondary holder tell your bank you will both be using your cards.

Take photo copies of your cards and leave them in your main luggage whilst on holiday. If you lose your card them you can phone your card provider immediate and stop the card. Take a note of the actual amount you owe on the card from when you actually start your holiday in China keep that safe and then when you get home after a few weeks when you get the final statement check the last payment.

Enjoy you holiday

10. Re: Dollar to RMB : exchange rate

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