Changing Money

There is counterfeit money everywhere, so no matter what anyone tells you always change money at a bank. It is better if you remember to carry small change with you, especially if you are taking a taxi. Before you leave your hotel, get 200 or 300rmb in small notes (5s, 10s, 20s and 50s) to pay for the taxis and small purchases on the streets. The driver will not have to give you back change larger than a 5rmb note. Many counterfeit bills will be 10s, 20s and 50s. If you happen to give the driver a 100rmb note, watch him like a hawk, as he will find a way to return a fake bill because they get them all the time. Of course not everyone is like this, and it varies from place to place, but you must always keep this in mind. One day you will give the cashier a 100rmb note to buy some cookies at 7-11 and you will be told that your bill is counterfeit, and you”ll wonder for hours how you got a fake note! Now you know. And if you try to check its authenticity at a Bank of China branch, it will be confiscated and will not be replaced.
If you are in Hong Kong, never change money in a hotel, as there are many exchange booths outside with great rates. In China, though, banks are the safest and have the best rates.
If you do change money in China then a quick conversion example would be: $1 = 6.7 RMB. For example, if you give $100 U.S. dollars to exchange, you will receive 700 RMB. Conversion rates change so check with banks for current rates of exchange.

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