|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
hugekebab
Joined: 05 Jan 2008
|
|
| Back to top |
|
 |
tzechuk
Joined: 20 Dec 2004
|
 Posted: Thu Apr 30, 2009 7:07 pm Post subject: |
 |
|
| Not that I send any money home, but I'd wait. |
|
| Back to top |
|
|
fromtheuk
Joined: 31 Mar 2007
|
| Posted: Thu Apr 30, 2009 7:58 pm Post subject: |
|
|
I use the xe website. I recently exhanged currency with KEB and it was lower than the rates quoted on xe. Recently, the exchange rate has been pretty good.
I will be exchanging currency again soon.  |
|
| Back to top |
|
|
JasperTeach
Joined: 13 Apr 2009
|
| Posted: Thu Apr 30, 2009 8:40 pm Post subject: |
|
|
| Hey, this is a REALLY DUMB NOOB question but I'm a little confused as to the exchange with the won and how we get more bang for the buck... so, we want to won to be closer to 1000 than 2000? This is because since we get paid in won we want it to be as strong as possible? Strength means lower numbers? Sorry for dumb questions! |
|
| Back to top |
|
|
Michael_75
Joined: 13 Oct 2008
|
| Posted: Thu Apr 30, 2009 9:41 pm Post subject: |
|
|
| JasperTeach wrote: |
| Hey, this is a REALLY DUMB NOOB question but I'm a little confused as to the exchange with the won and how we get more bang for the buck... so, we want to won to be closer to 1000 than 2000? This is because since we get paid in won we want it to be as strong as possible? Strength means lower numbers? Sorry for dumb questions! |
Think of it as buying pounds to make it easier. You want the price to be as low as possible (obviously). So when the exchange rate is 1899 won for one pound, that is clearly a much better deal than the 2000 won for a pound that it normally hovers around.
So yes, if I understood your post you're right. The closer to 1000 the better. Not sure how much better it will get than 1899 though. |
|
| Back to top |
|
|
Jammer113
Joined: 13 Oct 2008
|
| Posted: Thu Apr 30, 2009 9:42 pm Post subject: |
|
|
Low numbers or high numbers depends on what you're looking for.
Consider 1000 won per US dollar. (Sorry, I'm american.)
If I make 2,500,000 won per month, then I can send home 2,500 US dollars.
Now consider 2,000 won per US dollar.
If I make 2,500,000 won per month, then I can send home 1,250 US dollars.
The confusing part is when people say "The won is going up." meaning "The won is getting stronger". At that time, the number of won needed for each dollar goes down. |
|
| Back to top |
|
|
Otherside
Joined: 06 Sep 2007
|
| Posted: Thu Apr 30, 2009 10:42 pm Post subject: |
|
|
| Jammer113 wrote: |
Low numbers or high numbers depends on what you're looking for.
Consider 1000 won per US dollar. (Sorry, I'm american.)
If I make 2,500,000 won per month, then I can send home 2,500 US dollars.
Now consider 2,000 won per US dollar.
If I make 2,500,000 won per month, then I can send home 1,250 US dollars.
The confusing part is when people say "The won is going up." meaning "The won is getting stronger". At that time, the number of won needed for each dollar goes down. |
Hehe, this reminds me of a story. A couple of years ago, my parents had a Zimbabwean working for them. The exchange rate was approximatly Z$2 for 1Rand (yes, this was before the Z$1,000,000,000,000,000 to R1 days). Anyways, to save on bank charges etc, he knew a guy who would take the money home for him and give it to his family. Anyways, he's been using this guy a couple of months and my mother asks him how he sends his money home, and what rate he gets. He explains, and says that the rate is 2 for 1. Turns out he was paying 2Rand for Z$1 and this "friend" had been screwing him out 3/4 of his money! |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
