Asia Currency

Asia Exchange Rates


Asia Currency

By pix-asia.com Posted in Travel Tips To Asia /

Generally Accepted Currency in Asian Countries

Asia Currency

There are approximately 50 countries in Asia continent, each with their own Asia Currency. While Europe has Euro as the general currency for their continent, there is no general currency for Asia. This can make traveling to different countries in Asia rather difficult, since visitors need to exchange their currency into the currencies of each country they are going to visit.

Although there is no general currency for Asia, some legal tender currencies are accepted in some regions. Legal tender defined as the medium of payment approved by law or acknowledged by legal system in one country as the means to fulfill financial obligation. Currencies that accepted as legal tender are variously defined in each country. Although legal tender is recognized by law, it is not mandatory to be accepted by service provider. For example, shopkeepers are allowed to reject large value banknotes. This legal concept is known as the invitation to treat. Legal tender is only mandatory to be accepted if there are any debt occur in advance.

For Asia in general, US Dollar would be the safe option since it is accepted or at least exchangeable in almost every country in Asia. In South East Asia, Singapore Dollar is mainly accepted. Renminbi and Hong Kong Dollars are usually interchangeable since they have similar exchange rate. Money exchange offices or banks are the best place to exchange your foreign currencies to avoid counterfeit. These places are legal as well as official. Foreign coins are not recommended to be brought along. Exchange offices and banks mostly accept only banknotes. Make sure to return any Asian Coins or banknotes left before you return home because some Asia Currency is invaluable outside its country.

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