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How much cash can I carry from India to Hong Kong?
Residents of India can travel abroad with up to Rs. 25,000. There’s no limit to how much of a foreign currency you can take out of India, but if it’s US$5,000 or more in banknotes and coins, or US$10,000 or more in coins, notes and traveller’s cheques, it will have to be declared.
How much cash can you bring into Hong Kong?
Carrying more than HK$120,000 (currency or CNBIs) in or out of Hong Kong must now be declared to customs. From 16 July 2018, travellers to and from Hong Kong are now required to declare cash sums larger than HK$120,000.
Are Hong Kong dollars the same as US dollars?
Linked Exchange Rate System since 1983 On 17 October 1983, Hong Kong dollar was officially pegged to the U.S. dollar at a rate of HK$7.8 = US$1, officially switching back to the currency board system.
How much US dollar we can carry to India?
You can bring into India foreign exchange without any limit. If, however, the value of foreign currency in cash exceeds US$ 5,000 and/or the cash plus TCs exceed US$ 10,000 it should be declared to the customs authorities at the airport in the currency declaration form (CDF), on arrival in India.
How much foreign currency an Indian can carry?
Vinay Bagri, co-founder and CEO, NiYO Solutions, a fintech startup, said, “While travelling abroad, a resident Indian can carry Indian currency (in cash) up to ₹25,000 and foreign currency notes or coins up to $3,000 per foreign trip.
Where can I exchange foreign currency in Hong Kong?
1. Money Changers in Central District
- Ngau Kee Money Changer. Today-rates.
- Travelex. London-based international foreign exchange company.
- Berlin Company Exchange. Advance reservation is available for amounts above HK$5,000.
- UAE Exchange.
- Shing Kee Money Exchange.
Where can I change my US currency?
Your bank or credit union is almost always the best place to exchange currency.
- Before your trip, exchange money at your bank or credit union.
- Once you’re abroad, use your financial institution’s ATMs, if possible.
- After you’re home, see if your bank or credit union will buy back the foreign currency.
How long does custom clearance take in Hong Kong?
3-5 days
Customs clearance for air or sea shipments usually takes 3-5 days.
Why is HKD so expensive in India?
HKD is known to be an exotic currency and the prices of the same in India are often unfavourable. This is because the supply of Hong Kong dollars is often scarce in India. It is, therefore, often a smart travel decision to carry US Dollars in place of HKD when travelling to Hong Kong and convert USD to HKD in Hong Kong itself.
How to buy Hong Kong dollars in India?
Hong Kong dollars can be purchased in the form of currency notes. It is also possible to send money to Hong Kong from India by doing an HKD wire transfer. HKD is known to be an exotic currency and the prices of the same in India are often unfavourable. This is because the supply of Hong Kong dollars is often scarce in India.
Is it cheaper to convert INR to HKD in Hong Kong?
It is, therefore, often a smart travel decision to carry US Dollars in place of HKD when travelling to Hong Kong and convert USD to HKD in Hong Kong itself. As counterintuitive as it may seem, the conversion from INR-USD-HKD can indeed be significantly cheaper than the direct conversion from INR-HKD.
How do I get HKD when entering Hong Kong?
Luohu / Lo Wu Border Crossing: It’s easy to get HKD when entering Hong Kong. Hong Kong has its own currency called the Hong Kong dollar (HKD). HK uses a different currency to Mainland China’s yuan (RMB) or the Macau pataca (MAP).