Hong Kong and Macau - IN debit cards in HK
Nov 23, 11, 6:16 pm
I live in India, and am prob visiting HK/CHina with mom for week/month respectively...
Is it better carry USD cash and change into HKD? Or (in india) change USD into INR (which is at a incredibly good rate now) and then put it in a bank, and use the debit card to get out of a atm in HK..
Which is better?
Nov 23, 11, 7:14 pm
Since your starting current is USD in both scenarios. Impossible to answer that one way or another. USD to HKD is static. You should always get about $7.7x HKD for $1USD. The conversion from USD to INR is not static, so, if INR is increasing in value to the USD then you would want to just hold on to your USD and convert in HK. If the INR is decreasing in value then drop USD in account at last minute and do ATM thing. Now, what I dont know is if you take a 1,2 or 3% conversion fee for debit transactions etc. That would make a big difference in your rate.
If you have USD already, I would reckon it is best to just convert in HK from USD. The spread is small on that currency and good rates are pretty easy to get and you know what you are getting.
Nov 23, 11, 7:19 pm
Thanks.. Isn't the INR decreasing now? Its a 52 to the dollar
Nov 23, 11, 9:51 pm
Unless your bank does not charge for use of overseas ATMs, the per use debit card fee when you hit an ATM in HK will probably make "deposit in bank" the poorer option.