How Can I Exchange My Money (USD, EUR, AUD) in Yiwu?
For many reasons, you need to bring quite a lot of cash with you for buying from Yiwu.
How to change? Who offers better rate.
Where Can I Exchange?
For small amount, say a few hundred. Just exchange at your hotel. Almost all hotels in Yiwu offer money exchange service. No matter big hotel or small hotel.
For big amount, say a few thousands, you can exchange on street with brokers. Currently there are two places in Yiwu you can see many brokers carrying big bags of cash on street to exchange. One is right outside BANK OF CHINA YIWU Branch, right on North Chouzhou Rd, on the way to Yiwu market (Futian market). The other one is outside the BANK OF CHINA in F section of Futian Market District 2.
For even bigger amount, you can ask help from your agent, usually your agent should know a few good brokers. Your agent and broker can use online bank, to avoid carrying lots of money which doesn't feel that comfortable.
Exchange offices inside Yiwu market. They're located right inside each district of Yiwu Futian market.
Bank? Not really. They're very slow, and the rate they offer are not good either.
Who Offers Better Rate?
The brokers on street, or not on street but they work with you/your agent for a long time. For long-term relationship, these guys usually offer better rate. Then can also come to your location to collect money.
Banks. Banks all use the rate listed on BANK OF CHINA official site.
Hotels offers the lowest rate. But they're handy though.
* Each day between 10:30 and 12:00, big brokers decides their best rate for that day, this time you can get better rate.
Getting Fake Money?
When you exchange at banks, hotels, exchange offices inside market, the chance of getting fake money is very very low.
Exchange on street is also pretty safe. The change of getting fake money is also very low, but there is a chance. For big amount of change, please use your agent, the broker can transfer to their account online, then no chance of getting fake money at all.