Home Money Exchange Going to Hong Kong? Stock up on cash!

Going to Hong Kong? Stock up on cash!

- Advertisement -
 

Hong Kong – one of the more popular travel destinations for Singaporeans looking for an urban getaway.

Filled to the brim with a glorious street food culture and even cheaper shopping – largely due to the country’s lack of consumer tax – its a great place to be in for those looking for a short getaway.

But just one word of advice – please bring enough Hong Kong dollars (HKD) to fuel your holiday. Hong Kong money changers offer rates that differ hugely as compared to what you get here.

Here’s the data straight from a few street money changers around the downtown Mong Kok and Tsim Sha Tsui area all on 18 May 2016 when we were there:

This one is at Tsim Sha Tsui:

Also another one at Tsim Sha Tsui

This is from Mong Kok:

IMG_3230

Ironically, DBS in Hong Kong is offering indicative rates closer to you’ll get locally:

Screenshot_20160518-175550

At such a huge difference in rates, DBS rates would translate to an additional HK$600 for every S$1000.

That is, if you hold a DBS account, and you’re drawing cash from a DBS ATM. If you’re withdrawing money off a Hong Kong banking establishment, a service fee would be charged on top of the foreign bank rate.

In case you need to know; this is the usual cost of items in Hong Kong.

To save money (and precious holidaying time) while in Hong Kong, do yourself a favour – get your money changed in Singapore.

To find out the best money changer rates in Singapore – check out our latest currency to be supported – Hong Kong Dollars.

As always, for money changers’ rates, visit
Web: https://cashchanger.co
Telegram: https://cashchanger.co/telegram
Facebook: https://fb.me/cashchanger Instagram:https://www.instagram.com/cashchangercom/

 

CashChanger Editor
CashChanger Editor
Co-founder of CashChanger.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Why Singapore rejected a common currency with Malaysia

Malayan Dollar When Singapore separated from Malaysia in August 1965, it continued to use a common currency with Malaysia and Brunei, the Malayan dollar. Issued...

Troubles Are Far From Over for One of Asia’s Worst Performing Currencies

By David Finnerty July 20, 2020, 7:15 AM GMT+8 The Malaysian ringgit has been among the worst performing Asian currencies so far this year and its challenges...

It’s U.S. Dollar Against the World in This Pandemic-Stricken Era

By Vassilis Karamanis July 13, 2020, 6:40 PM GMT+8 Already the world’s reserve currency, the dollar’s hold over the world of foreign exchange has grown even stronger...

China Renews Push for Increased Global Role for the Yuan

Bloomberg News July 13, 2020, 4:00 AM GMT+8 Faced with the prospect of restricted access to U.S. dollars, China’s answer is to get more people to...