Buying HKD for your HongKong Vacation

The downside of Filipinos when it comes to travelling is that Philippine Peso is very weak compared to other countries currencies. For Hongkong, 1 HKD = 6.3 PhP on the average. But as I write this blog, PhP is getting stronger where 1 HKD = 5.8 PhP. Not much difference, but with ForEx, this 0.5 difference is something already.

Anyway, some Filipinos usually take the hassle of buying USD rather than HKD when going to Hongkong. Then, they will buy HKD in Hongkong using their USD. Cross-rates. Hmmmm. Really not appealing to me, if HKD is the subject. Moreover, there is an insignificant difference on PhP to USD to HKD and PhP to HKD.

HKD is readily available in Banks (HSBC, BPI, and BDO) and money changers here in the Philippines. So, engaging to cross-rates would really just be a hassle on your vacation. Instead of roaming around and getting on with your itinerary, you'll be looking for money changers, eh? You wouldn't even know if the money changer has good rates or not. So, why take the inconvenience?

So, here are my proven and tested suggestions when buying your HKD.

1. MB Aguirre (recommended by BPI) - It has better rates than the banks by a few cents. It has several branches over the metro. The one I have tried is their South Center Branch, Alabang. Call them up first before going to there to ensure there is HKD reserved for you.

MB Aguirre
Contact No: 8094251 and 8504617

2. HSBC Savings Bank / BPI / BDO - The problem with HSBC is you have to have an account with them in order to buy HKD with them. As for BPI and BDO, I believe they sell HKD to non-account holders. Although, for all banks, you have to reserve first at least 3 days prior.

3. If you really cannot buy HKD in Philippines, you can bring your PHP in Hongkong and buy your HKD at Frank's in World Wide House, Central. They really have good rates there, even better rates when you buy HKD in Philippines. You can just buy a minimal amount of HKD at the Hongkong Airport for your transpo costs. If you are in Tsim Sha Tsui Area, Wing Hoi Money Changer are mostly recommended by the Filipino Hongkong Enthusiasts but I think you need USD to buy your HKD here.



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Always remember DO NOT BUY HKD WITH ALL YOUR MONEY AT THE AIRPORT. Just buy enough until you can have your money changed at decent money changers. Airport Rates are rip-offs!

Note: Don't be baffled when you see your HKD. They really do not have uniformity with their bills and coins. The design of the paper bills depends on the issuer of the money, i.e., HSBC, Standard Chartered Bank, etc.