Retail clients may purchase Japanese yen for a travel holiday to Japan. Exporters, on the one hand, would likely seek to exchange their foreign currency revenues into Pesos in order to cover their operating expenses. For instance, importers may look to purchase US Dollars to pay their suppliers abroad. Although, there is no single entity that controls or dictates foreign exchange rates.įree market conditions generally prevail, which means that foreign currency exchange rates move based on supply and demand. Hence, central banks would occasionally employ policies to ensure market stability. Given the wide accessibility of foreign exchange markets, large movements and heightened volatility are unavoidable. The trading of foreign exchange is a global market activity where market participants generally consist of government institutions, financial institutions, fund managers, brokers, corporations and retail investors. Understanding the Foreign Currency Exchange Market For instance, if the Philippine foreign exchange rate vs USD is at 52.250, this means that 1 US dollar can be converted into 52.250 Philippine pesos.įoreign currency exchange rates are constantly changing without notice they can go up or down depending on market conditions, the perceived strength of the Philippines’ economy, and other factors that may not be related to its actual situation. Rates are quoted in Philippine peso (PHP).ĭifferent countries have different currencies, and it is through Foreign Exchange that people can convert the currency of one country into another. Visit your nearest branch to know the actual rates for the day. These rates are indicative only and may change without prior notice. Manage your TMC from our free Travel app and do tons more too – from buying travel insurance to checking your holiday spending.Indicative Foreign Exchange Rate as of J09:59 AM Hong Kong dollars are one of 22 currencies available on our Travel Money Card – the prepaid Mastercard® that lets you use contactless payment, withdraw cash from ATMs as long as they accept Mastercard®, pay using chip and PIN, and is even compatible with Apple Pay and Google Pay. Please note that the maximum amount of foreign currency you can buy is £2,500. If you choose home delivery instead, we’ll send your cash using Royal Mail Special Delivery Guaranteed by 1pm, meaning it’ll be with you the next working day if you order before 3pm.įor orders under £500, delivery costs £4.99. You can choose click and collect, where you can pick your Hong Kong dollars up in your nearest branch – the next working day if you order by 3pm. Our best rates are available online and you’ve got several options for how to get your cash. You can buy Hong Kong dollars online with Post Office. Grab your Hong Kong dollars at the Post Office – and the more you buy, the better the rate. And don’t forget to buy travel insurance. Hong Kong is very plastic-friendly, but if you do need cash then you can use your TMC to make withdrawals from the many ATMs, but be sure to check that they accept Mastercard® before using. Our prepaid Mastercard® can be used anywhere you see the Mastercard logo. If you order by 3pm, collection or delivery can be as soon as the next working day.Īnother option is to load up a Travel Money Card with Hong Kong dollars. Or you can order in one of our thousands of participating branches if you prefer to pop in. Choose to get your online currency orders delivered to your home or collect it from any of our branches – use our branch finder tool to find your nearest participating branch. Buying when the exchange rate is good means that you can lock in the rate. You can order travel money online with Post Office and get our best rates. If you’re travelling through, make sure you’ve got your holiday cash. Hong Kong is a populous, captivating hub of cultural mixes and unique identity that draws an international crowd year-round. Hankering for Hong Kong? Get your travel money from Post Office GBP value Min online spend £400, max £2,500
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