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Q: Is there any Restriction on Foreigner to Purchase USD
Once I was crossing through Head Quarter of Bank of China..and so many illegal agents approached me to sell USD in lieu of RMB..I am wondering whether a foreigner can buy USD in China or not , if yes, there is some restriction on purchasing USD??????
11 years 34 weeks ago in Money & Banking - China
Be VERY careful, and purchase or exchange them only at a bank or authorized monetary exchange booth. There are too many people who think they are getting a great deal only to find that their money is counterfeit.
Foreigners in China are limited to exchanging the equivalent of $ 500 US dollars per day. But Chinese nationals have no limitation, so if you need more than that amount, go to a bank with a Chinese friend and have him ask for the exchange. I have done it many times without any complications.
I've heard that there is a USD 20.000 limit per year for a foreigner.
i i do think it depends on which bank you deal with......GuangDa Bank or the English name everlight bank...is the best bank to exchange dollars.......no limits on you cause this bank is well-known for it's interest in the USD..and this bank is opened privatley...so some transactions just disappear for no reason to avoid any problems with the financial and tax departments in the government.....so i recommend that bank for any USD transaction needed
