In my recent travel to Hong Kong, I was looking for the Best Currency Exchange in Hong Kong to convert my currency (USD United States Dollar and INR Indian Rupee) to the Local currency (HKD Hong Kong Dollar). The prices offered by currency convertors had a huge range and it was hard to figure out which was the best place to do the conversation.
Based on my experiences over the week long stay, here are the best tips to convert your currency:
- Do not convert currency in the main Hong Kong Island, there is a premium to be paid to convert in the main land
- Convert at a place where there are a lot of Currency Convertors, the competition usually means a much fairer price and best returns for your money
- Use Currency convertors near where most Guest Houses are located. Guest houses host a large majority of travelers that intend to convert currency, hence there will be large number of currency convertors around the area and as explained in the previous point, it will get you the best rates.
- Look at as many currency convertors as you can.
- Don’t settle for the ones close to the main roads as they will give you you poor rates
- Convertors inside shopping complexes (not malls) offer the best rates
Finally here is the Best place to convert your money in Hong Kong:
Chungking Mansions (Tsim Sha Tsui) – This multi-storey shopping complex and guest room building has over 20 different currency exchangers in the building. These include various banks and even Western Union Money Transfer counters. The rates here were beating the outside counters by almost 70 HKD (for every 100 USD), which is a significant amount.
Other Alternatives – Hankow Center (Tsim Sha Tsui) & Mong Kok