Convert Chinese Yuan directly to Yen or Dollar?
I am wondering if anyone has a strong opinion or knowledge of currency conversion.
As I am moving to Japan directly from China, I wonder if I should convert my Chinese RMB directly to Japanese Yen, and if so should I handle the transaction in China or Japan?
Or perhaps should I convert the Chinese Yuan to American Dollar while I am in China, then change the Dollar to Yen once I arrive in Japan.
Many countries give horrible rates for anything but the dollar and their own currency, so I’m wondering if this also occurs in Japan or if they give favorable rates for the RMB?
You can convert CNY china yuan Renminbi to Japanese yen JPY while you are in china or you can convert them when you go to japan.
Don’t try to convert CNY to USD and then USD to JPY. In this case you have to pay two transaction fees or deference. you loose more money here.
Its always good you to convert directly.
You can convert all your CNY in to JPY in Japan. But I prefer you to convert when you are in china. This saves your time and inconvenience. You need not to carry cash, buy DD ( demand draft). Traveler cheques are little expensive. If you don’t have to open your account in Japan then traveler cheques or cash are OK.
Don’t worry much for this, you can convert at any place. But conversion at air ports or near air ports costs more.
