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: Best way to exchange from CAD to RMB and HKD

JulyZerg
06-20-2010, 12:53 PM
I'm wondering what's the best way to exchange 20k CAD to RMB and HKD, is there a difference on different methods for each currency?

My friend told me that wiring money from your bank account to one of your families account in China would get me the best exchange rate(RMB) or exchange it here at VBCE or exchange it somewhere in HK or China or <insert another method here>

What you guys think? 20k CAD isn't that much but I want to get the best exchange rate possible. Thanks.
TOPEC
06-20-2010, 01:39 PM
friends and family members.
JulyZerg
06-21-2010, 02:16 AM
What do you mean by "friends and family members"?
mickz
06-21-2010, 02:40 AM
What do you mean by "friends and family members"?

I think he means your "pung yaus" and "ook kay yun"
JulyZerg
06-21-2010, 02:47 AM
Funny. So you want me to exchange with them or does he mean the wiring process?
S60R
06-21-2010, 04:06 AM
if u are travelling to hk, just exhacnge it there. The banks give a much better rate in hk.

I am in hk right now and i got 1cdn=7.63hkd at the bank. If u dont have a hk bank account but have an hkid card, u can get your money exchanged at Liu Chong Hing Bank.
wouwou
06-21-2010, 04:33 AM
just do it at the HK airport unless we are talking about mills.
StealthFighter
06-21-2010, 03:04 PM
VBCE is pretty good. airport exchanges are ripoffs.
LG Hunter
06-21-2010, 03:12 PM
+1 VBCE is good.
Zyzz
06-21-2010, 09:33 PM
just wire the money, 20k, 200k, 2 mil, etc.

thats how fobs roll
slammer111
06-21-2010, 09:41 PM
Last time I checked (about 9 months ago), I could've sworn you got a way better rate by changing CAD -> USD -> HKD/RMB? (compared to CAD -> HKD/RMB on the same day)
S60R
06-21-2010, 09:41 PM
VBCE is pretty good. airport exchanges are ripoffs.

vcbe is shit compared to the bank rates in hk.

http://www.bochk.com/web/market/trading_rates/foreign_exchange_rates.xml?section=market&level_2=trading_rates&fldr_id=277
StealthFighter
06-22-2010, 12:05 AM
Last time I checked (about 9 months ago), I could've sworn you got a way better rate by changing CAD -> USD -> HKD/RMB? (compared to CAD -> HKD/RMB on the same day)

for any foreign currency exchange. it has to be converted into american before being converted into another currency.

by doing canada to US to RMB, you do your own leg work and save a bit.

even from RMB to HKD, it goes from RMB to USD to HKD.