Where is the best spot for exchanging RMB to USD in HK?

Where is the best spot for exchanging RMB to USD in HK?


I found a place at the back of Mirrador Mansion selling HKD for 1.03RMB (and that's almost market rate). They claim they take no commission, but if you look at their USD selling rate for RMB, it's obvious they ARE taking a commission at 7.7 (or 7.3), can't remember which.


Anyways, where have YOU found USD selling for 7.9 or even 8RMB for the dollar?

They aren't taking a commission as such (even though to you it's the same end result) - they are offering you a product at a price. If you don't like the price you can go elsewhere. If they aren't making many sales they will consider adjusting their price. Not sure if you can exchange direct from RMB to USD in HK (or anywhere else except the mainland and the US) because I think you have to go from one foreign currency into the local currency and then from that into the other foreign currency. Hence you end up with two lots of 'commission' (or whatever we call it). You might not physically see the local currency but I think that's still the way they have to do it. But there again those places in and around Chungking & Mirador Mansions might not necessarily follow the rules to the letter!

Patel Exchange or Patel something in Chungking Mansions usually give a good exchange rate. They are the second shop on the right hand side of the entrance. But like TC said, if you are not happy with their offer, you can always go elsewhere.