Shops in Hong Kong don't accept other currencies but usually accept credit card. It is necessary to bring some cash if you would like to explore the local culture, like trying street food.
Tsim Sha Tsui area is the busiest area for both the locals and tourists. You can find many old building under maintenance here.
There are many commercial buildings here but it's better to get some leaflets before going up. There are too many shops and brands inside, which would be time-wasting if you are not sure where to go.
One of the best exchange rate shop is located in Chungking Mansion, Tsim Sha Tsui
Chungking Mansion is told to be the most dangerous building in Hong Kong. Many ethical minority and refugees stayed here, which a few robbery and murder incidents was happened before. Some said many people try to talk to you once you enter to the building, they ask you to exchange the currency in their stores if they notice you are coming for currency exchange.
However, it never happened to me...
Anyways, be aware of your wallet and bags whenever you enter to the building. Make sure which currency shop you are going. Even though you can't find the shop, you have to look super confidence.
If you walk straight, Kin Shing Money Exchange is located there. It is family-owned business and operned by Hong Kong people. The staff is middle-aged but know basic English. Compared with other stores, Kin Shing offers more competitive rate and more transparent information (rate is updated and available at http://www.ksme.hk/ every day). They will give you scripts back, listed with your rate applied and amount exchanged.
Address: Kin Shing Money Exchange Co Ltd 36-44 Nathan Road, No. 87 G/F Chung King Mansion, Tsim Sha Tsui, Kowloon, HKSAR
Direction: MTR Tsim Sha Tsui Station (Exit C1)
Tel: +852 23680084/ +852 23683712/ +852 23664952 Fax: +852 27398256 E-mail: kinshingme@gmail.com
Business Hours:
Monday -Friday 09:00 - 18:00
Saturday 09:00 - 14:00
Sunday & Public Holidays Closed