Can you change RMB into another currency outside of China?

[ChTTay]

I'd like to take some RMB on holiday with me and change it there. However, my friend told me you can't change RMB outside of China. I can't find out about this online, all the results are for changing foreign current into RMB in China. I just want to do it the other way round.

Anyone know about this? I'm going to Thailand.

Thanks

[Johnny20270]

don't see why not CcTTay. 

 

Banks/ foreign Exchange companies in major countries need RMB for visitors coming to China so welcome "cash in"

 

I can see why there are some restrictions and prehaps the exchange rate is a bit crap

 

No clue about Thailand but I would have thought there would be no issue given the amount of Chinese going there

[abcdefg]

I'd like to take some RMB on holiday with me and change it there. However, my friend told me you can't change RMB outside of China.

 

Your friend is wrong, ChTTay -- I change RMB all the time when I travel in Asia. Done it in Thailand many times.

 

I'm seldom dogmatic when answering such queries, but I am 100% certain about this one.

 

Can even change them in the US nowadays. Saw rates posted at exchange booths at SFO a couple weeks ago.

[Simon_CH]

Plus the exchange rate isn't bad at all, depending on where you change it. I suspect that's because local banks often have a surplus of RMB from all the Chinese tourists bringing tens of thousands of RMB in cash when they visit. I've had worse exchange rates in China (ICBC) than with my European bank. 

[Johnny20270]

. I've had worse exchange rates in China (ICBC) than with my European bank. 

 

 

Same here now that I think about it! I use FX brokers in London and much better than HSBC China! Plus they charge 2% fee even though I have a RMB account 

[Simon_CH]

I used to transfer large amounts of money from my European bank account to my ICBC RMB-account in China, but with the exchange rate, the fees and all that it's actually cheaper to use my European ATM to withdraw 3k at a time with BOC or ICBC in China, as that way I only get charged the ATM fee but retain the fx-rate of my bank. 

[abcdefg]

I honestly can't remember the exchange rate, but I was glad to see it was so easy to buy the local currency using CNY in many parts of Asia. I had occasion to try that last year in Thailand, Laos, Vietnam, Malaysia, Indonesia, Korea and Japan. 

[liuzhou]

There is no problem changing RMB in Thailand. I too have done so many times. Also, Vietnam, Laos, Cambodia etc.

 

In Europe or the Americas, it's a different story.

[ChTTay]

Thanks everyone, as I said, I'm looking to take RMB cash and change it in another country. It looks like I can do that... Which Is great!

Chinese forums, more useful than bing search

[roddy]

It used to be quite common to think, given Chinese restrictions on foreign exchange and the low level of use of RMB overseas, that you couldn't do this. In reality it was just a supply and demand thing - China can't control what people do with RMB once the cash is outside China, and as said there's plenty of tourism and trade back and forth now. 

 

Maybe check what the limits are for taking cash across the relevant borders though, if you're carrying big wads of the stuff. 

[889]

The buy-sell spread usually tells you if an exchange rate is good. Super Rich in Bangkok usually has the best rates in Thailand, and their spread on 50/100 RMB notes is about 0.2 percent, which is very good. Outside Bangkok the rates won't be quite as good.

Remember you need to show your passport when changing money in Thailand.

http://superrichthai.com/exchange.aspx

[shuoshuo]

I have been able to change myy RMBs to other currencies outside of China.

[Meng Lelan]

 

It used to be quite common to think, given Chinese restrictions on foreign exchange and the low level of use of RMB overseas, that you couldn't do this

 

 

I remember those days, oh they were awful. Back in the 1980s we were warned to never ever take even one fen outside of China.