EXCHANGING MONEY IN CHINA TODAY


One of the most asked questions I get as a Tour Operator to China is about exchanging money. Above is the largest bill in China, a 100 Yuan note, at today’s exchange rate is worth about $16. Just four years ago, it was worth about $12 so the U.S. dollar has decreased against the yuan. Most hotels will exchange cash or refer you to a near by bank. It is best to have yuan if you go into rural areas as foreign exchange is sometimes not available. Cash machines are popping up all over in China including some 4 and 5 star hotels and your credit or debit cards can be used. You put in the U.S. dollar amount that you want exchanged and out comes the correct Yuan amount. The charges vary with the banks. I use a debit card issued by my stock brokerage and they cover all the exchange fees. When you want to exchange your Yuan back into U.S. dollars,(which is done at the a airport when you are leaving) you must present the exchange slips that you received in order for the Chinese bank to make your exchange. Only exchange your money at the hotel’s exchange counter, cash machines or Chinese bank. (not all banks exchange international money) Never exchange money with local people as there is much counterfeit money in China. For more money hints, contact us for more information at interlak@eskimo.com  Our web site:  www.interlakechinatours.com