Get the best Chinese yuan exchange rate

The best Chinese yuan exchange rate right now is 9.1239 from Travel FX. This is based on a comparison of 19 currency suppliers and assumes you were buying £750 worth of Chinese yuan for home delivery.

The best Chinese yuan exchange rates are usually offered by online travel money companies who have lower operating costs than traditional 'bricks and mortar' stores, and can therefore offer better currency deals than their high street counterparts.

For supermarkets and companies who sell travel money online and on the high street, it's generally cheaper to place your order online and collect it from the store rather than turning up out of the blue and ordering over the counter. Many stores set their 'walk-in' exchange rates lower than their online rates because they can. By ordering online you're guaranteed to get the online rate and you can collect your order from the store as usual.

Waitrose has the best Chinese yuan rate right now at 8.8309. You'll need to order online to guarantee this rate; it may be lower if you turn up unannounced and buy over the counter. You can buy your Chinese yuan online and collect them from your nearest Waitrose travel money store if you don't want to wait for home delivery.

There's no evidence to suggest that you'll get a better deal if you buy your Chinese yuan in China. While there may be better exchange rates available in some locations, your options for shopping around may be limited once you arrive, and there's no guarantee the exchange rates will be any better than they are in the UK.

Exchange rates aside, here are some other reasons to avoid buying your Chinese yuan in China:

• You may have to pay commission or other hidden fees to a currency exchange that you wouldn't have paid in the UK
• Your bank may charge you a foreign transaction fee if you use it to buy Chinese yuan when you're abroad
• It can be harder to spot scammers and fraudulent currency exchanges in China

Lastly, it can be handy to have some cash on you when you arrive at your destination so you can pay for any immediate expenses like food, transport and tips. You don't want to be searching for the nearest currency exchange when you've just landed and you're desperate for a cup of tea - or a cocktail!