Travel China - Currency Exchange and Conversion

For money exchange procedures at banks, your passport is always required. It is preferable to have traveler’s checks in amounts of $100 US or less in denomination, as when you exchange these into Chinese money, you will have quite a stack of bills to carry. Large hotels and department stores will usually accept MasterCard, VISA and sometimes, American Express cards. Please note that hotels may only exchange money for their guests.

The US dollar, British pound, French franc, German mark, Japanese yen, Australian dollar, Austrian schilling, Belgian franc, Canadian dollar, HK dollar, Swiss franc, Danish Krone, Singapore dollar, Malaysian ringgit, Italian lira, Macao dollar, Finnish markka, and Taiwan dollar are all exchangeable. Exchange rates fluctuate in line with international financial market condition and are published daily by the State Exchange Control Administration.

 

The RMB value has gone up and, at time of this article is written, it is approximately 7.90 RMB to $1.00 US dollars. Keep your currency exchange receipts because you will need to show them when you change RMB back to your own currency at the end of trip in China.