Korean Job Discussion Forums

[plutodog18]

I do not know if this has been written about before or not. But............................

For those of you who wonder about the value of the Won (and therefore your actual income) please use the website below.

The chart provided gives up to the minute values in $US (I am sure there are conversion charts for other currencies, but I just do not know where they are). These are the world trading values, so your bank should be at or near these prices. You might want to watch the fluctuations as to a more ideal time when to send money home.

http://www.bloomberg.com/markets/currencies/asiapac_currencies.html

The chart shows all the current rates for asia/pacific countries. In the middle you will see the won (KRW).

For those who are not sure how all of this works, please remember the lower (or smaller amount) of won you get on the chart the better. Why?

Well according to your contract you are to get a fixed amount of Won every month (no matter what the conversion rate). So if you get 2.0/month and the rate is 900 won to the dollar, your 2.0 every month would equal $2,222.22. If the Won rises to 950 to the dollar then your 2.0 every month is only equal to $2,105.26. This would mean a difference of about $120/month.

For those whose home country is not the US, perhaps you can post sites that give their rates as well.

[chevro1et]

You could always use this handy online tool:
www.xe.com/ucc

[Hightop]

Or for the rates you will actually get at a korean bank instead of the basic rates you can use http://www.keb.co.kr/IBS/english/fx/rate/rate/index.jsp
It has the rates for cash, travellers cheques transfering and the basic rate. You can see the current rate and the rate changes for that day. It is quite good.

[plutodog18]

Gee Hightop, I could not get the KEB site to work at all......

[Hightop]

Ah maybe you have to use IE, if it still doesn't work just go to www.keb.co.kr and follow the links.

[huffdaddy]

[plutodog18]

Thank you guys............I was using Explorer. Did not want to work at first, now for some reason I am getting it from the Home page of KEB and the direct address you first provided.....go figure.

Anyway I agree that this is a great site for all currencies. They are even honest to tell you the market exchange rate (they list this in a column called "Basic Rate").

Thank you again for sharing.

[joeyjoejoe]

http://www.tokyoahead.com/main/staticpages/index.php/chart2

you can plot historical charts of two different currencies verses a base currency.
there's about 40 different currencies to choose from.

[img] http://www.tokyoahead.com/currency/index.php?action=curr_getchart&cur1=USD&cur2=CAD&base=KRW&date1=2006-02-13&date2=2007-02-12&invert=0&sizex=570&sizey=300&ticks=20&picture.png [/img]

edit: why aren't the image tags working?