Shanghai’s foreign currency exchange service points are now available in all 16 districts, including airports, star-rated hotels, commercial districts, and tourist hubs. The Shanghai head office of the People’s Bank of China (PBOC) has revealed that by the end of June, these services will be expanded to cover all high-star-rated hotels in the city. Shanghai, being the initial destination for numerous foreigners entering China for various purposes such as business, education, or leisure, has been improving its foreign exchange services to cater to the cash payment preferences of many overseas travelers.
As of June 11th, the city boasts a vast foreign currency exchange network, including 20 franchised institutions, 200 agencies, 80 self-service machines, and over 3,000 bank branches. Additionally, there are nearly 9,000 ATMs that facilitate foreign bank card withdrawals. Pudong International Airport stands out with 12 franchised points, four ATMs for foreign currency withdrawals, three bank branches for currency exchange, and one self-service machine.
Franchised institutions in Shanghai accept a wide range of exchangeable currencies, including up to 50 different currencies from countries along the Belt and Road initiative. Additionally, they provide exchange services for approximately 30 other currencies, such as the United Arab Emirates’ dirham, the Danish kroner, the Brazilian real, and the Polish zloty.
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