Is it possible or recommended to exchange US currency for Chinese currency outside China?

10/9/2012 6:18:45 PM

China has lifted most of the restrictions on trade in Chinese currency, so it has been possible to (legally) obtain renminbi outside China for a few years. When entering and leaving China, you are allowed to bring 20,000 CNY in local currency (appr. 3,200 USD) and 5,000 USD or equivalent in foreign currency (source: Chinese Customs).

Assuming that you are in the United States, I can’t tell if you are actually able to obtain Chinese currency there. Here in Germany, most currency exchange offices sell renminbi, but I would expect the exchange rates to be better in China. If you really have to exchange cash, check a site like xe.com for the “real” exchange rate and find a Chinese office, where the offered exchange rate is not much worse. My experience is that the best deal is usually to withdraw cash from a local ATM if you need paper money.

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Hello,My name is Aparna Patel,I’m a Travel Blogger and Photographer who travel the world full-time with my hubby.I like to share my travel experience.

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