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limyaumee

Posts: 139

Governor

Q: What's the best USD to RMB rate

Anyone change the RMB to USD and loss some money? How can we over come this problem?

5 years 30 weeks ago in Money & Banking - China

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icnif77

Posts: 19814

Emperor

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The lowest exchange rate is called 'Spot rate'. That is Central Bank's rate and all other Banks add their managing fees and exchange it at the higher rate.

China Merchant Bank used to use 'spot EX rate' at conversion of all purchases completed abroad (to Gold account's funds), so I use to travel around with just little cash currency and made most of the purchases abroad by using CMB's Visa/Mc ATM card.

I even handed ATM card to my family members, who would always return cash after they made purchases with my card.

That was the best EX rate possible!

How to spot better/cheaper EX rate?

You should stare into RMB/USD chart day and night ... he he!

https://ycharts.com/indicators/chinese_yuan_exchange_rate

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5 years 30 weeks ago

ambivalentmace

Posts: 5732

Emperor

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https://www.scmp.com/business/money/money-news/article/2168575/will-yuan-deteriorate-past-7-dollar-dont-bet-it-happening

I switched my pay to dollars 3 years ago on my contracts. Reading the tea leaves is the best way to avoid working for free.

icnif77:

You were/are on the ball:

http://www.goldpricerate.com/english/gold-price-in-china.php

5 years 29 weeks ago

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5 years 29 weeks ago

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A:Your potential employer is right! Purpose of the Medical exam before granting Z visa is to make sure, you won't be entering China in any abnormal and harmful to others condition.Few days after your arrival to China, you'll be required to complete another ME ... If ME in China will be OK, you'll get a Residence permit stamp into your book some 10-days afterwards. Imagine, you're an employer, who can sponsor my entry and work in China, but after my arrival to China would be found I carry some sickness, which would prevent Chinese .gov to issue a Residence permit. Rule is: Z visa should be converted into Residence permit in 30-days after entry to China. So, my advice is:"Complete ME in your home country and forward medical results to your employer".Z visa grant will follow shortly afterwards. Employer is not wrong at their demand for the pre-arrival ME from your home country hospital. -- icnif77