Rio Cash Exchange

[Riotastic]

I am making my 5th trip to Rio this week and need some advice on currency exchange.  I keep reading on here that you should not exchange dollars at the airport as you do not get a good rate but I am not really sure of where else I should go.  I don’t like using ATM’S in foreign countries so I always exchange cash.  In the past I have always done this at the airport (I know I’m not smart for doing this) but I really do not know where the best place would be that will give me the best rate and lowest fee so I have just settled for the convenience of the airport exchange.  I don’t have to exchange the minute I land as I still have some Brazilian cash left from my last trip.  I am staying at a hotel in Centro right by the Cinelandia Metro Stop and will arrive Thursday morning.  Can someone direct me to the best place in that area for me to exchange my dollars?  Any help, guidance or suggestions would be greatly appreciated.  Thanks.

[Walker]

Many shopping malls have cambio booths.  There are also a few cambios booths/offices in Copacabana where tourists gather.  Any of these cambio booths gives better rate than airport or hotel currency exchange. This has been my experience, not only in Brazil, but also almost all other countries.  Most savvy travelers don't exchange currency at airports.

[trzinko]

airport is really the worst. do not exchange there, because they rip you off. maybe only for taxi or other type of transportation.

i was staying in ipanema. there are 2 exchange booths on praca general osorio. one in north east corner and one one on west side. they both had surprisingly good exchange rates in january for euro.  when international spot rate was 3,94 they paid 3,90, which is excellent for brasil. but i was exchanging money only for the boys, for all the rest i was using cards, which produce similar rate.

 

[dallastexas]

2 hours ago, Riotastic said:

I am making my 5th trip to Rio this week and need some advice on currency exchange.  I keep reading on here that you should not exchange dollars at the airport as you do not get a good rate but I am not really sure of where else I should go.  I don’t like using ATM’S in foreign countries so I always exchange cash.  In the past I have always done this at the airport (I know I’m not smart for doing this) but I really do not know where the best place would be that will give me the best rate and lowest fee so I have just settled for the convenience of the airport exchange.  I don’t have to exchange the minute I land as I still have some Brazilian cash left from my last trip.  I am staying at a hotel in Centro right by the Cinelandia Metro Stop and will arrive Thursday morning.  Can someone direct me to the best place in that area for me to exchange my dollars?  Any help, guidance or suggestions would be greatly appreciated.  Thanks.

Like the others have recommended, DO NOT exchange at the airport... I don't mind getting ripped off a little as a tourist, but at Brazil's airport, they ripped me off badly.  I received 240 Reals for 100 USD, I kid you not... I even have a printed receipt. 

Go to the big shopping malls, especially the ones on Avenue Paulista and there should be a cambio exchange on the 3rd or 4th floor of most large malls.

- REMEMBER to bring your passport.  I usually leave my passport at the safe in the hotel, only to find that the cambio exchange will not let you exchange currency unless you have a passport...a photo taken on your Iphone or a copy will not suffice. 

- Keep in mind the hours of operations at the cambio exchange is quite inconvenient, closing fairly early and most closes on Sunday.  The only cambio exchange I found open on Sundays is GetMoney, their rates are fairly competitive.  http://getmoney.com.br/pt/lojas

[Tartegogo]

I don’t quite understand your aversion for foreign ATMs, can you explain? You can switch them to English. Unless your bank is overcharging for foreign withdrawal? Or you don’t want any traces of your withdrawals on your statement?

Also they have ATMs inside the bank, so you know the ATM hasn’t been tempered with.

I was withdrawing at bradesco at no charge and an excellent rate. 

[redxs]

Yeah I use ATMs inside the banks. The banks usually have a lot of security and you can safely hide your cash before leaving the bank (in money belt for instance).

[ferrar]

Citibank recently exited from Brazil's retail banking business.   While Itau bought them out, they have, so far, maintained their  own branded ATMs in major urban centers like SP and Rio, all in the strategic tourist areas.   If you have an account with them in the States, you can generally get fee-free withdrawals,  extremely close to the wholesale exchange rate.   No need to go to the cambios.