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da_yinjing
Squeeker
Joined: Mar 26, 2005
Posts: 19
Status: Offline
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 Posted:
June 14, 2005 - 11:50 PM |
 
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| Post subject: Changing RMB to USD in HK? |
Is it possible to go to HK (currency changing booths) and get RMB changed into USD? Or even if I get it changed to HKD, wjen I take the HKD back to the USA, I can change it into US currency. If yes, what is the maximum amount I can change in HK?
If not, how can I change RMB into USD in China? Anybody has a trusworthy 'black market' money change guy to PM me? Thank! |
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msrb
Seeker
Joined: Nov 11, 2004
Posts: 50
Status: Offline
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June 15, 2005 - 12:09 AM |
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as far as i know, those changing booths in HK change RMB to USD, but they first change RMB to HKD, then to USD.
plus they charge commission. (if they don't, the rate is low.)
so there isn't as much as you expect left in your hand eventually.
i suggest you do the change in a bank in Hk.
some banks in Hk also charge commission, but they charge less than those booths do.
banks in hk run 5 1/2 days a week. |
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da_yinjing
Squeeker
Joined: Mar 26, 2005
Posts: 19
Status: Offline
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June 15, 2005 - 12:24 AM |
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Thanks for your reply. Can somebody else confirm this? So I can go to a bank in HK to do the RMB into USD exchange with no problem? |
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olesechka
Rocker
Joined: Nov 02, 2004
Posts: 782
Location: somewhere moving around
Status: Offline
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June 15, 2005 - 12:35 AM |
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dfoo
Post Roaster
Joined: Jan 19, 2005
Posts: 4693
Status: Offline
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June 15, 2005 - 08:44 AM |
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There are blackmarket currency people at XiangYang market. My gf coverted 20 USD yesterday at 8.5. If you convert more you can get much better rates.
Regards, Matthew |
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wakk0
Raver
Joined: Sep 03, 2004
Posts: 393
Status: Offline
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June 15, 2005 - 09:05 AM |
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I heard an old man handling ALL kinds of currencies and he is standing beside a bank along HuaiHai Road. Are we talking about the same person?? |
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knockknock_ca
PopStar
Joined: Nov 27, 2003
Posts: 1076
Status: Offline
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June 15, 2005 - 12:57 PM |
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The black market just convert other currencies to rmb. |
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dfoo
Post Roaster
Joined: Jan 19, 2005
Posts: 4693
Status: Offline
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June 15, 2005 - 02:43 PM |
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No it doesn't -- they'll convert RMB to a foreign currency such as USD.
Regards, Matthew |
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da_yinjing
Squeeker
Joined: Mar 26, 2005
Posts: 19
Status: Offline
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June 15, 2005 - 09:02 PM |
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olesckha: thanks for the link
knockknock_ca: IF I WANTED TO CHANGE FOREIGN CURRENCY INTO RMB, why the heck do I need to go the the black market?! Just bring your passport and go to any bank.
Ok, so I guess I can only do 20K a day in HK. I was hoppin to do more so I'll have to try to get it changed in Chija-- Any reliable black market guys to pm me?? |
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Victorian
Reacher
Joined: May 03, 2004
Posts: 367
Status: Offline
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June 15, 2005 - 09:25 PM |
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I confirm you can convert all currencies in whatever way you want in HK. Da_yinjing is right, as for any other countries, you'll have to convert whatever currency into the local currency (ie HK$) before converting into other currencies (in your case, US$).
HK$ is fixed in a narrow range (forgotten what) around HK$ 7.78 = US$ 1
HK$ is fixed in at HK$ 100 = RMB 106
If you go to the big banks, e.g. Hang Seng Bank, HSBC, Bank of China, etc., they'll give you the fixed rate but they'll charge for handling charge. However, I don't think they charge anything if you open an account, you can open a US$ account as well. Ask before you do so. You can always close the account afterwards. |
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