Job Discussion Forums

katora · Joined: 10 Jan 2005 Posts: 2 Location: yinchuan, china

hello,
iv been workin here in ningxia since last september, gonna be leavin next month and have accumulated quite a bunch of yuan. the thing is i have no idea how i can buy some dollars or pounds. im sure i cant just walk into a bank and buy the money, nothing is ever that easy in china.
can someone tell me what i should do. my school is no help, me and my girlfriend are the first foreign teachers they've had (or probaly even met!).
Confused

parvati_overdrive · Joined: 09 Jan 2005 Posts: 69

its honestly difficult to say. heres why:

normally, youd by sterling due to the lame and avoidable situation the bush administration has got the nation into. BUT...the pound is said to possibly weaken this year as well -this is due for many of the same reasons -spending and high debt per % of gdp.

so...its up to you friend. if you have a need for sterling or are uk buy that. if you are canoook or yankee imperailist -go w/ the bucks.

alwyas remember if its not your 'home' currency, youll change it back again -

as you well know, all this changing can lead to much loss -especially if you are changing in states. dont change at the airport in states or even bank -do it at a proper bank overseas that does many intl money transactions.

hope this helps -

change for what is best for your situation, dont try to arbitrage it -you obviously dont know anything about these speculative and volitile mkts. no offence - and + + for earning the money in china no less.

sojourner · Posted: Thu May 26, 2005 1:14 pm Post subject:

Katora,

On your way back to the UK, will you be stopping over for a few days in either HK or Bangkok ? If so, go to the recent thread about changing RMB into Australian $ ( http://www.eslcafe.com/forums/job/viewtopic.php?t=23742&postdays=0&postorder=asc&start=0 ). In that thread, someone recommended , if visiting HK, to go to one of the money changers in Chungking Mansions, where you can exchange your RMB for any number of different currencies - usually at quite favourable rates. Regarding the situation in Bangkok, refer to my posting (22/5/05) to the thread.

Peter