Let me lead you through the streets of Moscow

by Anni Pelmeni

Funny enough this is one of the first question my foreign friends ask when they plan to visit Moscow. If Moscow were not one of the most expensive city in the world, this question could be justified. But as such Moscow reeks of money, getting your cash is easy, not spending more than you have is difficult. Even if you plan to visit other Russian cities, you should not encounter a trouble of obtaining Russian rubles. You have a variety here: you can withdraw money from cash machine with a normal rate of commission applied internationally, exchange your cash or traveler’s checks in the bank or exchange your currency in currency exchange offices.

Banks:   to guarantee the safety of transaction use banks’ services. Traveler’s checks can be cashed only in banks, make sure to have an ID with you for all the bank transactions.

Cash machines:  cash machines can be found easily in Moscow, as per norm while drawing money abroad you will be charged for a transaction but the costs are standardized and comparable to those in other countries. Usually there is a limit to the amount of cash you can withdraw in one transaction: 10000 rubles (it is about 300EUR or 400USD).

Currency exchange offices:  in addition to banks, there are many offices to exchange money, especially in the downtown. The sign on the entrance will inform you the exchange rate of both buy and sell. If you exchange USD (EUR) into rubles, then you need buy rate, i.e. at which rate the bank will buy your USD (EUR). The exchange rate usually varies within 3-5 per cent of official Central Bank rate. Surprisingly, small exchange offices often offer a better deal, as well as there is no line there.

Stumbe it!