Weifang Currency Exchange
Welcome to Currency Exchange in Weifang page! The page contains information on how to get currency exchange services in Weifang. We are still working on this page and will update it very soon.
I. What is currency exchange?
In China, currency exchange means a transaction for converting foreign currencies and travellers’ cheques into RMB at a certain rate of exchange (referred to as “inbound exchange”), or converting RMB into foreign currencies (referred to as “outbound exchange”).
II. Why is currency exchange required?
RMB is the exclusive single legal currency for use in China. In the People’s Republic of China, the use of foreign currencies is prohibited for the procurement of goods and services and commodity trading can not be denominated in foreign currencies. Meanwhile, RMB is not yet a freely convertible currency, and cannot be used for trading activities in other countries and regions.
III. Where is currency exchange available?
All institutions marked with “EXCHANGE” can provide currency exchange services. You are recommended to conduct all currency exchange transactions only at the following sites:
A. Banking outlets or qualified institutions that provide Currency Exchange services, located in No. 1, 2 and 3 Terminal Buildings of Weifang Capital International Airport;
B. Other institutions with currency exchange services, such as hotels. Most of these institutions only offer inbound exchange services;
C. Banking outlets in Weifang with currency exchange services. The business hours of banking outlets generally range from 9:00 to 18:00, depending upon the classification of districts and banks;
D. Select ATMs in some locations, where 24-hour inbound exchange services are available.
Usually, all institutions marked with “EXCHANGE” could provide currency exchange services.