Money in China
#5
Joined: Aug 2003
Posts: 9,922
Likes: 0
Well, would you willingly take Chinese currency as payment in the United States?
Fortunately, there's no need to enter China bearing bundles of US$: the Chinese have ATMs in abundance, although they don't dispense "local $" but yuan, exchange rate about 8 to the US$. Check with your bank that your debit card will work overseas, though, and at which Chinese banks' ATMs.
Fortunately, there's no need to enter China bearing bundles of US$: the Chinese have ATMs in abundance, although they don't dispense "local $" but yuan, exchange rate about 8 to the US$. Check with your bank that your debit card will work overseas, though, and at which Chinese banks' ATMs.
#6


Joined: Feb 2004
Posts: 26,168
Likes: 0
It's always best to use the local currency. You should never expect people in other countries to take the US$, but if they do, you can bet they are adding a nice bonus for themselves into the exchange. I think this is OK because they have to go to the time and trouble of exchanging your currency for one they can use.
To our non-American friends: I know it must sound strange to you when someone asks a question like this, so please allow me to explain where this presumption comes from. The US$ is widely accepted throughout North America and the Caribbean islands, although usually not at a good exchange. But that's why Americans who have not traveled abroad will mistakenly presume that the dollar is universal. They know they've used it out of the country before, (meaning N. America/Caribbean) so they just don't realize that it doesn't work in every part of the world.
Gamorris, I hope you enjoy China.
To our non-American friends: I know it must sound strange to you when someone asks a question like this, so please allow me to explain where this presumption comes from. The US$ is widely accepted throughout North America and the Caribbean islands, although usually not at a good exchange. But that's why Americans who have not traveled abroad will mistakenly presume that the dollar is universal. They know they've used it out of the country before, (meaning N. America/Caribbean) so they just don't realize that it doesn't work in every part of the world.
Gamorris, I hope you enjoy China.



