Job Discussion Forums

[Gold Rush]

Where is the best spot for exchanging RMB to USD in HK?

I found a place at the back of Mirrador Mansion selling HKD for 1.03RMB (and that's almost market rate). They claim they take no commission, but if you look at their USD selling rate for RMB, it's obvious they ARE taking a commission at 7.7 (or 7.3), can't remember which.

Anyways, where have YOU found USD selling for 7.9 or even 8RMB for the dollar?

[Smoog]

Chung King Mansions in TST usually has the best going rates for all currencies.

[Steppenwolf]

I changed RMB into HK dollars today in Hennessy Rd., near the pedestrian overpass leading from Immigration Tower to where I went - the CTS office near Southorn Park.
In the moneychanger booth on the east side of the overpass, south side of Hennessy Rd., I got 97 dollars for 100 yuan - substantially more than I got last time in HK (around 95 dollars for 100 yuan).

I don't know how much they were selling U.S> yuan for but it's a safe bet it's below market value - which is only practised by commercial banks.

[poopsicola]

But is it really worth it to travel from Guangzhou to Honkers just to change 100 RMB?

I once changed 100,000 RMB into HK dollars in Zhong Shan at a very competitive rate. I don't know if you know that beautifully refurbished European style mall in Zhong Shan, not all that far from that very picturesque river, particularly seen at night (on the arm of a loved one). If you're interested in fairly substantial exchanges - I'm not sure if the vendors would be much interested in 100 yuan but you could try - you'll find a small lane on the right as you walk away from the river just past a little shop selling refrigerator magnets of curious design. Watch out also for the China Merchants Bank, a banking institution of solid reputation which has an appeal to discriminating long-term foreign residents of China, on your left. If you venture into the lane, you'll pass several "barber" shops and "foot washing" shops of I don't know what repute since I'd never venture into them myself - nevertheless, you'll find a small ristorante in rakishly Italian colours and with a very pleasant, what shall we say, ambience.*** Ask for Mr Zhang and say you have a little business venture to discuss and Bob's your uncle. Those of you who may not know Zhong Shan but who have substantial capital to exchange into HK dollars would find the trip well worth while. There are various buses arriving there directly from provincial cities although the buses from central Guangzhou are to be commendable. A short stay is to be recommended. It has a surprisingly temperate climate and local people I have met there in my frequent sojourns in that fair city have been exceptionally accommodating.

Take note that Mr Zhang has a thin hide and may be insulted by trifling amounts in which case you may well have to follow the route of a previous poster into Hong Kong, uneconomical as such a journey might be.

****

It would be in remission of me not to point out that Il Ristorante Verdi serves Miscela d'Oro Espresso Decaffeinato Coffee. I use it in my coffee maker in my town atelier. Ah, and the Tortelli verdi burro e tartufo. You'll kill for it. Forgive my Italian but it's un primo decisamente piacevole, con un aromaticit� e profumi incredibili dati da questo tartufo bianco, eleganza e gusto racchiusi in poche ma indimenticabili forchettate, anche per questo piatto abbiamo lasciato il Romitorio che se � possibile ha avuto una resa ancora migliore. Take a trip to Zhong Shan. It's squizito - and you can change your money.

[organix]

If you know someone well enough, you can always give them the cash to deposit in their bank account and have them cut you a check. I did this two years ago with my girlfriend's father and it couldn't have been simpler. Took the money home, and deposited the check in my American bank account.

Another way is to deposit the money into their account, and have them ask for a "bankers check". I did this last year with an official from my school. They must have their passport/ID when they go to the bank. The check will be made out in USD, so you wont have to lose on any conversion AT ALL! Highly recommended.

[wildnfree]

Mongkok, Bute St, on the corner under the bridge is an old lady with a small booth. I often travel and have extra currency to change...I think I have changed it in almost every booth in HK and this place is by far the best. I hear the locals say that and there is always a queue to change money there, proving the claim.