Korean Job Discussion Forums

[mysterious700]

What's up with the Won? I keep sending money home to Canada and it it keeps dropping in value. I hear that 80% of the teachers here are Canadian. So, it begs the question - will wages have to go up here? Many may ecide that it's not worth it to come over here. I've been here for 5 months and am really disappointed with this. I thought the money would be worth a lot more. I guess it is still ok, but if it drops any lower we're in trouble.

[yingwenlaoshi]

I believe it's mostly due to the Canadian dollar skyrocketing. It was over $1.07 U.S. a couple of days ago.

[seoulman1]

stop sending money, it will drop after new years.

[kingplaya4]

I don't know, its the opposite with the american dollar. I'm seriously considering changing my won at the bank to american dollars, and just keeping them at home in a lockbox. May not be worth it though. I highly doubt this exchange rate is going to continue the way its going vs the US dollar though, its going to kill Korean exporters.

[yingwenlaoshi]

[Ya-ta Boy]

[Mr. Pink]

The Canadian dollar is strong as hell atm:

Price of oil is influencing it, in addition unemployment is the lowest it has been in 30 years.

They are predicting 1.10 by the end of the year.

If you are sending cash back to Canada, I would wait till the dust settles. ATM it is just going to keep rising.

[Pak Yu Man]

I'm heading back at the start of Dec for my vacation. It's going to suck. I hope the Can$ get's a kick in the head and drops 50%.

Isn't it great when all the Canadians complain about how much their money is worth. If the Canadian dollar dropped half a buck, we'd all cheer.

[BRawk]

[Juregen]

It's not the Won, it's the dollar.