Korean Job Discussion Forums

[penguin]

I've heard it's better to come to S Africa with Rand, rather than exchange at the Joburg airport.

Has anyone bought Rand in Seoul? If so, where?

Thanks.

[Otherside]

It's not better to come to SA with Rand. This goes for almost all emerging currency's. (The won included). You will almost always get a much better rate in country and dealing trading with major currencies than out of country. (Outside of Southern Africa, the only country where the you'd get a good deal buying or selling rand is the UK...based on trade/historical ties and an expat population somewhere between 1-2mill).

My advice (this is what I do if I take cash home), buy dollars in Korea, go to SA and change them into rands. The airport offers a competitive rate (the banks are marginally better, but unless you are talking huge sums, the difference is negligible).

Finally, as a side note, the rand has been flirting with 10 year highs against the won the last couple of weeks, unless you are leaving shortly, it would be wise to wait. (Personally, I'm sitting on a fat stack of won, and waiting this out)

[penguin]

Thanks for your reply. I read somewhere that the exchange places in Jo'burg airport rip you off with really excessive commission. Is this not true?

[Otherside]