兑换 duìhuàn to convert
to convert; to exchange
How to remember 兑换: 兑 convert + 换 change = to convert.
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How it is used
- The standard word for exchanging one currency (or voucher/points) for another - 把美元兑换成人民币 (bǎ měiyuán duìhuàn chéng rénmínbì) to change dollars into RMB.
- 兑换 is the physical/transactional swap (money changing hands at a rate); don't confuse with 兑现 (duìxiàn) which is cashing a check or making good on a promise.
- Common at banks and airports: 兑换率 (duìhuànlǜ) exchange rate, 货币兑换 (huòbì duìhuàn) currency exchange.