Korean Job Discussion Forums

Mosley · Joined: 15 Jan 2003

The Canadian dollar is now practically on par w/the US dollar. This translates to an exchange rate of $1CAD =915 won. It was something like 830 won when I got here earlier in the year. If you have to send money home...ouch! that smarts!

marlow · Joined: 06 Feb 2005

It does suck, eh? I'm trying to predict what the future holds for the C-dollar versus the won.

mikekim · Joined: 11 Aug 2006

Invest in the US stock market. Why would you send money home to sit in a bank.

twg · Joined: 02 Nov 2006 Location: Getting some fresh air...

marlow · Joined: 06 Feb 2005

crazy_arcade · Joined: 05 Nov 2006

I'm going to hold out for while.
This has been a cycle every year since I've been in Korea.

I'm far from an economic expert, but as I understand it the Canadian dollar has generally been strong against most currencies except the U.S and while the dollar has gained some strength...the move to parity is more a result of the U.S dollar weakening. Correct me if I'm wrong.

kermo · Posted: Tue Sep 18, 2007 9:10 pm Post subject:

Good for buying off Amazon.com
Very bad for sending money home to pay Visa card debt. It's like my debt is growing every time the loonie gets stronger!

genezorm · Joined: 01 Jul 2007 Location: Mokpo

i guess that means getting a canadian flag patch for your backpack just got more expensive

aaabank · Joined: 27 Feb 2007

Mosley · Joined: 15 Jan 2003

genezorm: ha, ha!

crazy-arcade: you're right, to a degree, about the US dollar.

kermo: Yikes! Paying off a student loan is one thing but CC debt? Regardless of the rate, get that debt wiped out! But I'm guessing you don't need someone at Dave's to tell you that....

Jarome_Turner · Joined: 10 Sep 2004

Unless you have a reason to send home money immediately, I wouldn't worry too much about it. The flucuation is quite normal, and will most likely start to swing back the other way in the not too distant future.

Canadian dollar VS. Korean Won.

Past Year:

Past 5 years:

I sent home about 6M won a month ago, and ended up making about $600 less than I would have if I sent it home 6 months ago. Confused

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

Long term US treasury bonds...

Mosley · Joined: 15 Jan 2003

My first time here was 5 yrs. ago and when I arrived it was exchanging at about 760. I wiped out a $4800 line of credit debt in about 4 months.

*sigh* I get all misty eyed when I think about that rate....

laura-and-ryan · Posted: Tue Sep 18, 2007 10:45 pm Post subject:

marlow · Joined: 06 Feb 2005