Is it possible or recommended to exchange US currency for Chinese currency outside China?
I'll be traveling to China soon, specifically to Wuhan, and I remember reading somewhere (I don't remember where, unfortunately) that it's only possible to exchange USD for RMB in China itself - is that true?
Or if not, is it just a much better idea to do the exchange in China for some reason, e.g. exchange rates?
And a bonus question: can I expect to find a trustworthy English-speaking exchange agent at the airport in Beijing, where I have a layover, or in Wuhan?
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Can you exchange yuan outside China?
As travelers, we are only allowed to carry the equivalent of US$5,000 or 20,000 RMB into or out of China. Anything more than this will need to be declared and in some cases will require a legal warrant. I never recommend that people carry this much cash on their person while traveling.Where can I exchange U.S. dollars for Chinese yuan?
Swap RMB for USD at a bank within the U.S.- Chinese banks within the U.S., such as the Bank of China or Industrial And Commercial Bank Of China (ICBC)
- U.S. Banks partnering with a Chinese bank, such as the Bank of America.
- Banks in major international metropolitan centers like New York and Los Angeles.
Should you buy Chinese yuan?
China's economic growth in recent years makes the yuan an attractive currency for investors. The Chinese government takes an active role in making sure the exchange rate is favorable for Chinese exports, which can limit upward price movements.China currency to Dollar | Dollar to Chinese Currency | 1 dollar is equal to how many Chinese yuan
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