You’ve returned from an amazing trip abroad, unpacked your suitcase, and found a forgotten stash of foreign currency. Those leftover euros, yen, or pesos are sitting in an envelope, slowly becoming a souvenir rather than useful money. What should you do with it?
Many travellers simply toss it in a drawer, thinking it’s not worth the hassle. But those leftovers can add up—and converting them back to your local currency is easier than you might think. Here’s your straightforward guide to selling back foreign currency, smartly and seamlessly.
Why You Shouldn’t Just Keep It (Unless You’re Going Back Soon)
1. It Loses Purchasing Power Over Time
The fundamental reason is inflation. While it sits in your drawer, the general cost of goods and services in its home country is rising. What 100 units could buy when you returned might only buy 95 units worth of goods a few years later. Your money effectively shrinks while it sits idle.
2. You Miss Opportunity Costs
That money is trapped. By converting it back to your local currency, you free up those funds to be useful. You could put it toward daily expenses, save it, invest it, or even use it to fund a future trip somewhere else. As a dormant object, it generates no value and serves no function.
3. Exchange Rates Are a Moving Target
The value of currencies constantly fluctuates based on global economics, politics, and market sentiment. The rate you got when you bought it is not locked in. There’s a significant chance that when you do eventually need to exchange it (or use it), the rate will be less favorable, meaning you’ll get back less than you could today.
4. It’s a Forgotten, Depreciating Asset
Psychologically, once something goes into a drawer or a jar, it’s often forgotten. It becomes “out of sight, out of mind.” Over the years, it can be damaged, lost, or simply overlooked. You’re essentially taking a liquid asset and turning it into a poorly tracked collectible that’s quietly losing its optimal value.
5. The Hassle Later Outweighs the Minor Hassle Now
Dealing with a small, forgotten amount years later is often more frustrating than handling it promptly. The process feels like an errand for a trivial sum. By addressing it now, you complete the financial cycle of your trip efficiently and clear the slate.
The Exception: The only time it makes strategic sense to hold onto it is if you have definite, concrete plans to return to that specific country in the near future (typically within 6-12 months). In that case, the convenience of having immediate cash upon arrival may outweigh the minor risks of inflation and rate fluctuation over a short period.
Your Options for Selling Currency Back
1. Your Local Currency Exchange Specialist (The Most Often Best Choice)
A trusted local money changer is often the best option when it comes to selling your leftover foreign currency. Unlike banks, for whom currency exchange is a side service, currency buying and selling is the core focus of these specialists. This expertise can provide a smoother and more beneficial experience for you.
- Pros: Local currency exchange specialists typically offer competitive buy-back rates, ensuring you get good value when converting your foreign banknotes. The process is quick, providing you with instant cash without the requirement of being an existing customer. Additionally, these specialists are experienced in handling a wide variety of international currencies. Many, including us, extend a buy-back guarantee if you made your original purchase with them, adding further convenience and peace of mind.
- Cons: The main drawback is the need to visit a physical location. However, this minor inconvenience is often offset by the superior rates and service provided.
2. Airport Kiosks (The Convenience)
Airport currency exchange kiosks also buy back foreign currency. While they are present in most major airports and readily available, they serve a specific purpose for travellers who prioritise convenience over maximising value.
- Pros: Extremely convenient if you are already at the airport and need to exchange your currency quickly or access cash in a hurry.
- Cons: Airport kiosks typically offer the lowest buy-back rates and often charge high fees, which significantly reduces the value you receive for your leftover currency.
3. Your Bank (The Sometimes-Option)
- Pros: Banks offer a level of familiarity and comfort, as you are likely to have an established relationship with your local branch. This can make the process feel more straightforward and reassuring, especially for those who prefer handling financial matters with institutions they already know.
- Cons: However, it is important to note that not all banks provide currency buy-back services to non-customers. Even if your bank does offer this service, the rates are often less favourable compared to specialists, and the bank might only accept notes, refusing coins. Additionally, the process can be time-consuming, as you may need to wait for your order to be processed, which can add inconvenience to the transaction.
Your Options for Selling Currency Back
1. The Rate Works Both Ways: Remember the “buy” and “sell” spread. The rate you get when selling back (the buy-back rate) will always be less than the market or tourist “sell” rate. A reputable shop will make this difference clear.
2. Notes vs. Coins: This is key! Most exchange services only buy back banknotes. Foreign coins are often difficult to resell. Consider donating leftover coins to charity at the airport or keeping them as a physical memory. Always check the policy before you go.
3. Condition Matters: Torn, heavily defaced, or extremely old notes might be rejected. Bring clean, current-series bills for the best outcome. You might face this issue even if you exchange currencies at the same shop, you bought it from if the notes are not in a good condition.
4. The Original Receipt Can Be Golden: If you still have the receipt from when you first bought the currency, bring it! Some shops, including ours, offer a loyalty or guaranteed buy-back rate to customers, ensuring you recoup more of your original value.
The Smart Traveller’s Strategy for Leftover Currency
- Plan Ahead: Towards the end of your trip, try to use up small notes and coins for last-minute meals, souvenirs, or transit.
- Keep a Small Souvenir Amount: Deliberately keep a few iconic notes or coins as a memory.
- Convert the Rest Promptly: Sell back your remaining banknotes within a few weeks of returning home to avoid rate shifts and the “drawer forgetfulness” effect.
At Hong Kong Forex Limited, we make it simple. We offer transparent, competitive buy-back rates on the spot for all major currencies, and we welcome both old and new customers. Best of all, if you originally bought your travel money with us, bring your receipt and benefit from our buy-back prices.
Ready to convert?
1. Check our live rates online now, call us at +852 2766 0066, or WhatsApp us at +852 96030030
2. Walk into our shop at Shop 110 A&B, G/F, ChungKing Mansion, 36-44 Nathan Road, TST, Kowloon, Hong Kong with your foreign notes for instant, friendly service.
3. Consider our ‘Reserve & Collect’ service for your next trip—enjoy great rates and a guaranteed buy-back later.