Currency of Tibet
Chinese Renminbi (RMB) is used by Tibetan as currency, or Yuan. 8.3 is the current rate of the Yuan to the US dollar.
(RMB). The basic unit is the yuan.The exchange rate is about USD 1 =
8.278 CNY (approx.) Banks in Tibet/china are closed on Saturday &
Sunday. If it is cash dollars, even local people help you to get them
exchanged in Chinese yuan. Travellers cheques & credit cards are
very difficult to be cashed outside the banks especially outside Lhasa.
RMB from automatic teller machines is now possible in Lhasa. There are
ATMs in the central Bank of China branch and in a bank not far from the
tourist centres. If you are bringing foreign currency to exchange
outside of banks (ie when traveling outside Lhasa), it should be US
dollars and you should plan to have small denominations (twenties or
lower) to change in local hotels. There is no blackmarket for currency
exchange in Tibet.
Credit cards are accepted
at the expensive hotels in the large cities such as Lhasa and Shigatse.
Other than these cities, acceptance of credit card is very rare. This
will undoubtedly change in the future but, right now, it means that you
need to use cash for most transactions.
Tibet for daily living are much cheaper than in the West, although
higher than in some other Asian countries such as India or Vietnam.The
cost is relative depending on from where you arrive. The one
budget-breaker in Tibet, however, is transportation. If you stick to low
budget hotels, bus transportation, and small eateries, you can get by
on US$10-15 per day. However, if you rent a private car and driver and
stay in nice hotels, you can expect to spend US$150 per day or more.
of the best places for shopping is around the Barkhor, in Old Lhasa.
You'll find prayer flags, fur hats, horse bells, saddles, bridles,
copper teapots, jewelry, rugs, and fabric.
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