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Thread: Best way to Exchange Dollars to Rubles?

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    Best way to Exchange Dollars to Rubles?

    Hello

    I will be coming to Moscow in couple of weeks and I will be carrying almost 3000 USD and I will need them to get exchanged in Rubles so what is the best place to get it done? Banks or Exchange companies? Will there be any available at Airport?

    Coming to Moscow for the first time.

    Thanks in advance for any guidance..
    Sunny

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    If you're new to Moscow it might be difficult. But best thing you can do is head several stops out from the circle line (in any direction) and take a look at the exchange rates at the local places nearish the Metro. Compare a few places, choose the best and make your change. Be sure to calculate/count your money in the booth.
    'Nothing, like something, happens anywhere.'

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    but qa word of advise if i may.

    Quote Originally Posted by Sunnycv View Post
    Hello

    I will be coming to Moscow in couple of weeks and I will be carrying almost 3000 USD and I will need them to get exchanged in Rubles so what is the best place to get it done? Banks or Exchange companies? Will there be any available at Airport?

    Coming to Moscow for the first time.

    Thanks in advance for any guidance..
    Sunny


    be VERY careful when you exchange that large amount at an exchange booth. they are known to use every trick in the trade to cheat you. using double sided sticky take so a note or two will be held back and the like. also, the stick the money into these machines that count and you can see the numbers. don't trust them, count the bills by hand and in front of the cashier. and don't let them rush you.
    make sure you have nod duds. 500 rubles bills are known for fakes. i have several at home.
    also, make sure that YOUR $ bills are clean, have nothing written on, not held together with scotch tape or are maybe torn. the exchange boots will not accept them.

    if i were you, and special since you are new, i rather use a bank as an exchange office. there the cashiers booth is closed, your transactions can not be watched by out siders.
    sorry to be so negative about these exchange boots, i personally would not miss them if they all will be closed down.
    There is no greater treasure then pleasure....

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    Quote Originally Posted by Benedikt View Post




    be VERY careful when you exchange that large amount at an exchange booth. they are known to use every trick in the trade to cheat you. using double sided sticky take so a note or two will be held back and the like. also, the stick the money into these machines that count and you can see the numbers. don't trust them, count the bills by hand and in front of the cashier. and don't let them rush you.
    make sure you have nod duds. 500 rubles bills are known for fakes. i have several at home.
    also, make sure that YOUR $ bills are clean, have nothing written on, not held together with scotch tape or are maybe torn. the exchange boots will not accept them.

    if i were you, and special since you are new, i rather use a bank as an exchange office. there the cashiers booth is closed, your transactions can not be watched by out siders.
    sorry to be so negative about these exchange boots, i personally would not miss them if they all will be closed down.
    I agree with this. If you are new to Moscow stick to the banks. You will need your passport.

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    Bank of Moscow or MasterBank have reasonable exchange rates. I agree with the above and I've been almost cheated twice at the exchange kiosk by the street here in Moscow and Kiev. Always count your money no matter what even there is a long line behind you. Also pay attention to commission fees and minimum amount of money required to get the reasonable exchange rate at the kiosk. If the exchange rates look good to be true then it's probably is since they more likely charge commission or require minimum $10,000. Not all kiosks are bad but its a matter of knowing which ones are good.

    Since you'll be new to Moscow and I would suggest you to go to the bank.

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    Quote Originally Posted by Sunnycv View Post
    Hello

    I will be coming to Moscow in couple of weeks and I will be carrying almost 3000 USD and I will need them to get exchanged in Rubles so what is the best place to get it done? Banks or Exchange companies? Will there be any available at Airport?
    Change the currency BEFORE you get here - the exchange rates will be the same if not better.

    OR carry the currency on a prepaid debit card: http://www.frommers.com/destinations...404020005.html

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    If you understand some Russian look through finmarket.ru or rbc.ru
    there are exchange points with rates published online
    But better to call them in advance.

    Anyway 3000 is not a big sum to worry about it. plus minus, say 0,2 roub gives you only 600 rub difference..

    I do not recommend airports. Very bad rates there.

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    Quote Originally Posted by Arthuro View Post
    I do not recommend airports. Very bad rates there.
    I agree. Only use exchange kiosk or ATMs at the airport as a last resort such as paying for a taxi.

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    Thank you everyone, I think best way would be a Bank then.

    After reaching there, I will try to goto bank ASAP and open up a bank account, exchange them into rubbles and deposit all to bank as well.

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    Quote Originally Posted by RichardB View Post
    Change the currency BEFORE you get here.....[/url]
    Not exactly sure what you mean by that. I enquired about exchanging Saudi Riyals in the UK and the rate i was quoted was far worse than the rate i got in Saudi. I'm sure it would be the same for rubles.

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    Quote Originally Posted by Nobbynumbnuts View Post
    Not exactly sure what you mean by that. I enquired about exchanging Saudi Riyals in the UK and the rate i was quoted was far worse than the rate i got in Saudi. I'm sure it would be the same for rubles.
    It is ... I have NEVER seen better exchange rates in the US than in the destination country.

    The best exchange rate is through a visa/mc credit/debit card ... why carry cash at all? Of course, one must be wary of fees, but if you are savvy you can find 0% FETF cards with no ATM withdrawal fee.

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    Quote Originally Posted by frankjohn2 View Post
    It is ... I have NEVER seen better exchange rates in the US than in the destination country.

    The best exchange rate is through a visa/mc credit/debit card ... why carry cash at all? Of course, one must be wary of fees, but if you are savvy you can find 0% FETF cards with no ATM withdrawal fee.
    I believe it has something to do with controlling the outflow of the currency.
    The central bank will only buy back currency from banks outside the country at a fixed rate which is less than the one offered at home. This reduces the amount of physical currency outside the country.

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    Quote Originally Posted by Arthuro View Post
    If you understand some Russian look through finmarket.ru or rbc.ru
    there are exchange points with rates published online
    But better to call them in advance.

    Anyway 3000 is not a big sum to worry about it. plus minus, say 0,2 roub gives you only 600 rub difference..

    I do not recommend airports. Very bad rates there.
    Agree. RBC cash excange tracker is good enough
    http://quote.rbc.ru/cash/

    But here may appear situation when exchange rate will change while you go to the bank department. And the location of the point with most attractive rate may be in suburb

    Quote Originally Posted by Sunnycv View Post
    Thank you everyone, I think best way would be a Bank then.

    After reaching there, I will try to goto bank ASAP and open up a bank account, exchange them into rubbles and deposit all to bank as well.
    You may have both RUB and USD accounts in our proletary bank and move your funds between them and your imperialistic home bank as you wish.
    But ~90K rub is not so huge sum, you may keep it in a matress

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