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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 26 weeks ago in Money & Banking - China
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
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.
