Exchanging for Chinese Currency

China

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When you get to China you obviously cannot use your country’s money to get by you have to use their currency exchange program. You can bring cash and then go over to the Bank of China for RMB, RMB is short the Remininbi which is the form of Chinese money or otherwise known as the People’s money. The money you bring in can be exchanged for traveler’s checks. You can also use credit cards in China as well.

Your best bet is to carry traveler’s checks; they provide an excellent safe way to carry money. If you purchase a money order in your home country the Bank of China can cash them in for you with the Reminibi. The Bank of China will exchange foreign travelers checks from the United States, Canada, Australia, Hong Kong, Japan, Britain, France and many other countries as well.

If you are looking to exchange cash, then there are many facilities at the airport where you can exchange this money into Reminibi. Some hotels will also exchange your money but your best bet is to exchange some before you get to the hotel just in case. The cash that is exchangeable in China are the United States Dollar, the British Pound, the Italian Lira, the German Mark, the Japanese Yen, Austrian Shilling, the Australian Dollar, the Hong Kong Dollar and the Swiss Franc. Keep in mind when you are exchanging the cash that the exchange rate is different so you may get less money back on the exchange than you thought.

Keep your currency exchange receipts because when you leave China you must show the exchange desk the receipt in order to get back the money from your own country back. Some places in China do not take anything but cash so always carry some amount of cash with you just in case. Some people prefer to carry just travelers checks and that may be easier of you don’t understand the exchange rate. Credit Cards though the interest payments will be high, it may be easier to just use them on vacation.

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