| View previous topic :: View next topic |
| Author |
Message |
DCJames
Joined: 27 Jul 2006
|
 Posted: Sun May 27, 2007 9:41 am Post subject: Exchanging Money (Korean Won to Philippine Peso) |
 |
|
I'm vacationing in the Philippines next month.
Should I exchange my won at Incheon Airport or exchange in the Philippines?
Which one will give the better rate? |
|
| Back to top |
|
 |
merkurix
Joined: 21 Dec 2006
Location: Not far from the deep end.
|
| Posted: Sun May 27, 2007 10:05 am Post subject: Re: Exchanging Money (Korean Won to Philippine Peso) |
|
|
| DCJames wrote: |
I'm vacationing in the Philippines next month.
Should I exchange my won at Incheon Airport or exchange in the Philippines?
Which one will give the better rate? |
Exchange your money here in Korea!! They WILL rip you off if you exchange over there, even in the exchange booths. They don't value the won as much as they value the American dollar. I was able to exchange 1,000 won for 48 pesos here in Korea, but when I arrived at the airport to exchange more money they wanted 32 pesos for 1000 won. You are better off exchanging here before you go. |
|
| Back to top |
|
|
ajgeddes
Joined: 28 Apr 2004
Location: Yongsan
|
| Posted: Sun May 27, 2007 3:53 pm Post subject: |
|
|
| Exchange some money at Incheon airport and the just use your ATM while in the Philippines. |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Sun May 27, 2007 4:14 pm Post subject: Re: Exchanging Money (Korean Won to Philippine Peso) |
|
|
| DCJames wrote: |
I'm vacationing in the Philippines next month.
Should I exchange my won at Incheon Airport or exchange in the Philippines?
Which one will give the better rate? |
Change your won here to US$ for your trip.
You will NOT get a decent rate for won in the RP and MOST places will NOT exchange WON.
You should buy 10,000 pesos here before you go - enough to cover your first couple days expenses until you find a money changer with a decent rate.
Where in the RP are you going? It would be easier to give you some ideas for the best money changers - for example, in Cebu, the best rates are the money changer at the Marina Mall on Mactan island (won or $). The 2nd best place is the money changer on the lower level of Ayalla mall.
Some of the worst rates are at the money changer at SM mall. They do NOT give good rates of exhange on forex, will NOT exchange won at all and requires you to fill in a form and show ID to change money.
On boracay you can exchange $ or EUROs and get decent rates (the same rate at all 3 money changers). ALWAYS ask the rate BEFORE you go to exchange money. Some of the hotels offer better rates than the money changers but this changes on a daily basis.
Do NOT use the money changers at the airport in Manila or Cebu. You will lose between 3 and 5% MORE than if you change elsewhere.
. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
