Job Discussion Forums

[Luxe]

[travelNteach]

if that is true, why am i bothering to work? i can take all money and buy euros, then exchange the euros for pounds, then exchange my pounds for dollars. just doing this 2x would all me to double my money. where can i exchange pounds and euros for the same rate? please tell me the money changer u use. i will be there tomorrow and retire.

current rates from xe.com:
1.00 GBP = 1.21607 EUR or 1 EUR = 0.822321 GBP
1 GBP = 1.55200 USD 1 USD = 0.644330 GBP
1 EUR = 1.27624 USD 1 USD = 0.783550 EUR

[Quoven]

Luxe was using an oversimplification in order to prove a correct point. Sure, you could do that, TnT, but you wouldn't be getting ahead unless the market for your final currency increased in valuation enough to cover your conversion fees, or whatever the technical name is for executing these trades. The value of currencies are not at all fixed, as we here in the US have become painfully aware of in the last couple years.

[travelNteach]

luxe wasnt using being simplistic, he gave an impossible senario that could never happen. that's all i was trying to point out. its cool it someone wants to teach others about converting money, but at least give plausible examples, just as bule gila came back on the board to update his rates on the money changers in his area. it is possible to make money exchanging money, but u have to know what u are doing and choose volitile currencies. boom or bust, that is the life of day traders.

[basiltherat]

a lesson learnt over the first few years of doing this nonsense and a rule of thumb:

imho ....

covert into the currency in which you are going to ultimately spend the money; no matter how high or low other currencies might be valued in the market at any particular time

leave makling money from currency conversions to the dealers and speculators.

considering the amount of money we are talking about in tefl, it's just not worth it or spending time mulling over.

we are talking peanuts here; especially whern considering the amount of time and value change that would be required to reap any substantial gain.

my tuppenceworth.

if u really want to gamble on making a quick buck, try purchasing 30 or 50 million shares of imjx (google them) and watch your money double (or halve) as the weeks go by.

best
basil

[Bule_Gila]

@ LUXE

Today I went into the bank to check the rates. Here are the rates

$1 USD = 9,200 IDR
$1 CDN = 7,200 IDR

You can say I have no Idea about how currencies are stacked against eachother but it doesn't take an economist or accountant to see that there is a gross problem with the conversion rates here. The Canadian dollar trades against the green back at a rate of about .95 cents USD ($1 CDN= 0.95 cents USD)

The rate for Canadian dollars should be set higher than this! I even remember when the Canadian dollar surpassed the greenback and was trading for $1.14 USD ( $1 CDN= 1,14 USD). The banks here still had idiotic rates like the one I posted above!

What makes matters even worse is that the Australian dollar in Indonesia is worth more than the Canadian!!!!!!!!!!!! This does not happen in any other counrty in the world LUXE. This morning the rates were as follows

$1 AUS= 7,500 IDR

Now, can you explain, with your infinite wisdom of currency exchange knowledge, how such an idiotic conversion rate makes sense? I look forward to hearing your response

[wailing_imam]

Simply put, some parts of the world and some banks are more interested in having and processing some currencies more than others.

Banks in countries like Indonesia can set whatever exchange rate they desire. It seems that in this case the bank can't be arsed with Canadian dollars.

[Bule_Gila]

I think it is a case of the banks and money converters taking advantage of the situation. I'm sure they get the proper rate of exchange when it comes time for them to exchange these currencies into Rupiahs.

[Tricia2010]

Hi, I am also Canadian- from Windsor, Ontario. I was wondering how you are enjoying Indonesia? I am thinking of teaching there in 2011? What school are you at? It sounds like you have travelled quite a bit- any advice for a fellow Canadian?

[Bule_Gila]

@ Tricia2010

I come from Toronto myself, a few hours from Windsor. If you like tropical climates, and experiencing new cultures, then Indonesia is the place for you. There are some of the comforts of Canadian life you will has to leave behind, but the positives, in most cases, outweigh the negatives. Indonesia is located in a good place, in that it allows for cheap travel to other countries like Malaysia, Singapore, Philippines, Australia and Thailand during vacation periods.

Read my original post for some advice

[Tricia2010]

How do you find the teaching? I have my BA, but not a teaching cert. Do you think that will be an issue to teach there? Is the pay reasonable?

[Bule_Gila]

@ Tricia2010

You have the most important qualification need in order to secure a job here (Your BA), so that's one hurdle jumped.

I would suggest getting some type of TESOL/TEFL certification. The CELTA certificate is the "benchmark" here and around the world so that is what I would suggest you get.

As for the pay, that depends on where you work. When looking at the pay scale do not compare it to what the average person makes in Canada, as it would appear very low. The cost of living here is low (the average doctor makes between Rp 2,000,000 to Rp 5,000,000 a month). The average pay scale here for ESL teachers ranges from Rp 7,000,000 to Rp 15,000,000 a month.

Forums like this are good at finding jobs, as many schools in Indonesia post job listings here to find ESL instructors.

[Mr. Kalgukshi]

Several inappropriate postings have been deleted. If you enjoy taking shots at people, this is the wrong board for you. Future postings of this description will result in sanctions.

http://forums.eslcafe.com/job/viewtopic.php?t=85076