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Murph
Joined: 31 Dec 2006
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 Posted: Fri Nov 02, 2007 6:47 pm Post subject: Canadian Exchange Rate |
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| To all you Canadians out there, have you all noticed that the exchange rate is in the toilet? I try to send money home on a regular basis but it's just getting rediculous now. I can remember a time when a million won was worth $1200 Cdn. Currently we're lucking to get 1:1 after the banks take their fees out of the transfer. I am curious as to what the rest of you are doing now. Are you just keeping your Korean currency in Korea, or exchanging it for American (because the American exchange rate it better now) and then keeping it in a shoebox at your place until the Korean-Canadian exchange rate improves? Also to those Canadians who have been here for 5 or more years, have you all seen this before (not including the financial crisis), and historically speaking how long did it take for the exchange rate to improve again. |
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twg
Joined: 02 Nov 2006
Location: Getting some fresh air...
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| Posted: Fri Nov 02, 2007 7:25 pm Post subject: |
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| About three months |
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whatever
Joined: 11 Jun 2006
Location: Korea: More fun than jail.
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| Posted: Fri Nov 02, 2007 7:33 pm Post subject: |
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Hint: The guy on the ground is the Canadian dollar. |
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Adventurer
Joined: 28 Jan 2006
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| Posted: Fri Nov 02, 2007 7:48 pm Post subject: |
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| Well, I have to pay off student loans, and I have to keep on increasing the US dollar amount, because the greenback is not holding its own against the Canadian dollar. I am sure within six months the dollar will start gaining back some of its strength, but the Canadian dollar may go up to 1.20 US. Watch for it. I just hope oil doesn't go to 109 or something. It's possible. |
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