Question Which money exchange place gives the best rates?

[Mr. James]

I am curious if anyone has a recommendation for the best place to exchange money on Okinawa. Perhaps one that consistently gives the best rates. Or are all money exchanges the same?

 

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[David]

I am curious if anyone has a recommendation for the best place to exchange money on Okinawa. Perhaps one that consistently gives the best rates. Or are all money exchanges the same?

I believe all money exchanges in Okinawa offer the same public rate.

Nevertheless, I did have a pleasant encounter at Chance Center which is situated on northbound of Route 58 after Camp Foster's commissary gate. I knew the rate was going to swing fairly soon by reading forex charts of the USDJPY pair and was able to exchange 5-figures of USD into JPY for 2 more yen per dollar than the advertised rate by asking and negotiating—it was a chance for the manager to make the call and give it to me to profit even more on as it was above the day's rate and could've swung the other way; however, it did pay off in their favor with his call because the rate swung 4 yen the next day (this is a lot of money when we're speaking low 5-figure [nearly 100,000 yen I lost out on])!

It's best to ask if they'll work with you if you are exchanging a larger than usual amount of money.

 

[Mr. James]

Thanks. I guess it is a similar situation I'm looking for: that once in a while when I need to exchange a larger amount. It could pay off.

 

[David]

Thanks. I guess it is a similar situation I'm looking for: that once in a while when I need to exchange a larger amount. It could pay off.

Yes, definitely ask. And, if you're looking to exchange six-figures to buy a house or whatnot, it might be best to shop around even more and seek out forex brokers. They can take that amount and trade more on leverage, essentially giving you even more money as they can trade, say $400,000 on top of $100,000, allowing for a greater profit for them and obviously passing it down to you in a 1-time upfront transaction (where they worry about the loss or gain).

 

[Bernice W]

I am curious if anyone has a recommendation for the best place to exchange money on Okinawa. Perhaps one that consistently gives the best rates. Or are all money exchanges the same?

I’ve gone to Chance Exchane next to the Hamagawa Lodge for several years. They’re always friendly which is definitely a plus.