Under Construction

What is the China Currency Called:
Renminbi (RMB) is the official name of the currency introduced by the Communist People's Republic of China at the time of its foundation in 1949. It means "the people's currency". "Yuan" (CNY) ¥ is the name of a unit of the renminbi currency.

One quora post said,
The best (or at least how I do it) is doing it through a Chinese bank (ICBC, BOC, etc). It is usually free or at least much cheaper getting it at an international airport (Don't exchange at an American airport, just don't)."
Another said,
"It is better to exchange RMB into USD China. China clears huge volume USD, where as the US clears very little RMB therefore their exchange “spread” will be greater."

At 8 Best Ways to Exchange USD/RMB in China they say,
Where Rates fees Disadvantages
Banks downtown (BOC and ICBC are best) Best none eed paperwork and waiting time.
ATM with Credit/Debit Card Average yes
Small stores Fare Wach out for fake money
Airport Bad yes Lines
Foreign Currency Exchanging Machine - XDM Bad Only at a few airports
Individual Money Changers Usually Good Wach out for fake money

My experience at Travelex at the airport:
Current exchange rate is 6.53 (Yuans/$) they gave 5.53 (85% of the market rate) plus a $10 service charge. Total cost $18 for 300 yuan ($46)(40%)

Chinese Money: where to exchange, how much to bring, can I use my ATM card?
8 Best Ways to Exchange USD/RMB in China

last updated 30 Aug 2017