CHANGING MONEY

Changing money legally is no longer the logistical problem nor the blatant rip-off it used to be. Exchange offices abound, particularly in the center and around touristy areas. Rates at different currency exchange booths vary somewhat, usually within a fifty-copecks range, so unless you plan on changing thousands there's little point in running around looking for the best rate, though after-hours and weekend exchanges tend to be on lower rates.

Whenever you hand hard currency over to someone it is quite common for the bills to be individually checked for authenticity either with some electronic device of questionable effectiveness or by a bizarre variety of techniques including rubbing, crumpling, ripping, and tasting. Don't take this as an insult as counterfeit money has proliferated in this country over the last couple of years. Torn, well worn, heavily written on, or faded currency always gets turned down here; for some unknown reason people have come to believe that any money that has been used over and over must be false, and that only crisp, freshly-xeroxed bills are real.

Exchange booths are very often located in shops selling pricier items (electronics, fashion, BMWs) as well as casinos (good for late-night money changing) and all hotels. Look for the sign: obmen valuti ( ) Both banks and exchange booths will change most major currencies into rubles at the posted rates of exchange and almost all banks will change major travellers cheques. Many give cash advances on credit cards. Fees and commissions are often posted at the exchange window, though sometimes only in Russian (travellers cheques are ; credit cards are ). There is a 0.5% tax on all currency exchanges. In order to exchange money you are supposed to present your passport (a photocopy will do) or some other form of identification, although having nothing to show is not usually a problem (this rule tends to be enforced more strictly for Russians changing money). You will be given a slip recording the transaction which you should keep with your customs declaration just in case some anal-retentive customs officer decides to actually check how much money you are taking out.