Money exchange

[ILay]

Yesterday checked in the exchange office:

They are buying

1 USD = 28,32 RUR
1 CAD = 16,40 RUR

Which gives a cross-rate of

1 USD = 1,72 CAD

Though the cross-rate of Central bank is

1 USD = 1.5118 USD [today]

and its exchange rate is:

1 CAD = 18.87 RUR [today].

As its a rare currency for Russia the banks and exchange offices are putting the highest possible margin dealing it, so better take the USD. (or DEM if the exchange rate is better).

2 Dr.W:

are there any limitations on bringing the currency to Russia?

[ILay]

Forgot to mention - this is St.Petersburg, not Moscow.

[glock_girl]

Thanks Ilay!!

So there is a difference between St. Petersburg and Moscow?
OK.

But your comparison to buy 1 USD at $1.72 CAD is an excellent help.

Here (I can't remember off the top of my head) it's between $1.50 and $1.60 for $1 USD.

I guess it would be better to buy the USD here after all. I hope it doesn't go up

Thanks for your help guys

PS: I heard also (from our government) that anything over $1500 being brought into Russia must have an official bank receipt authorizing the clearance of these sums.

[Dr_Woland]

2 glock.girl

Yeah, there are regional variations in currency-rates. I noticed that last summer in St P, the USD rate was worse for me, but the GBP rate (I always have some in my wallet, in case of an emergency trip back to family etc) was much better than in Moscow (so I changed some and won on the cross-rate).

2 ILay

Hmmm, I don't think there is a limit. I've brought in some "quite large" cash sums to pay bills in the past. For example, in September 1998, when it was impossible to use the (crashed-out) banking system to pay my company's bills, I flew into Moscow carrying $75k in cash - which I declared to the Customs, and they gave me a receipt without even batting an eyelid. (They did ask if I was nuts, though, since everyone else was taking their money OUT of Russia as fast as possible!).

For general interest to travellers - in Moscow there is now a CUSTOMS GREEN CHANNEL. You can go straight-through without making a declaration PROVIDED that you do not plan to re-export more than $1500 in cash money at the end of your trip. This will often save you up to an hour of standing on line!

[sidenote to anyone who will listen.... of course, the existence of ATM's in Russia has made this whole cash-declaration thing a huge joke, and I hope they will stop it soon. You can arrive in Russia apparently penniless, and then withdraw $160 per day from any cash machine, provided your account will stand it (of course!). So in a month, you could have withdrawn three times the Green Channel limit of cash!! You could withdraw more if you get clever and move-around ATM's of different banks - the limit is not on your card itself, but just to prevent fraudsters emptying any one machine with a stolen card.]

ILay - do you know if Pulkovo has a Green Channel on Arrival too?

Dr W.

[glock_girl]

Dr. W:

Can you just walk through the green channel without being stopped by someone? How does it work? Like customs?
What about bringing things into Russia??

Amy

[Dr_Woland]

hey, glocky!

It's not just "like" Customs - it IS Customs! And yes, you can just walk right through. Sometimes someone will ask you "are you aware of the Customs Limits to use the Green Channel?" and you just answer "yes".

I got back here on Monday morning, and was out of the Baggage Area within 2-3 minutes of getting by bags from Baggage Reclaim.

Dr W.

[glock_girl]

Tres cool - thanks for the great tip