Korean Job Discussion Forums

[RoryB]

I have just come from working in Vietnam and have a few thousand $$$ I need to send back to England. Is now a good time to do it? What's the general consensus on the Korean Won vs Dollar exchange rate at the moment?

Secondly, do you I have to exchange the dollars for Korean won before I transfer it? Basically, I just need to know the most economical way to get this money back to the UK.

My Korean girlfriend has the money at the moment and will be using her accounts to do that transfer if that helps at all.

[swinewho]

Depends on what you mean by $$$ - Having been in Korea for just over 1 1/2 yrs, the exchange rate (won vs pound) is almost the best it has ever been at. (for that time period - at its lowest, it was just over 420 quid per million won, now it's - well.............look for your self)

If you can do won to pound, go for it. If you need to transfer dollar, to won then pound I don't know!

With the election being round the corner I'd be willing to bet the exchange rate will go in our favour a little more in the coming month, but saying that the pound vs won is a little more insulated than the won vs dollar........

You might as well stick it in a william hill account and bet on man -u beating tottenham this weekend (if you win - you make money), if you loose, the scum have basically lost the title - worth the bet, ha ha - come on spurs!

[air76]

The only thing that you will lose by exchanging the money twice is the small percentage taken by the bank.

The won:dollar exchange rate is irrelevant, as is the won:pound. It is the dollar:pound rate that should interest you....which is pretty good at the moment (in your favor.)

If money could be lost by exchanging currencies twice then money could be made doing the same thing in reverse...you could just take out a loan for a bazillion dollars, exchange the money twice, pay back your loan and retire in 1 hour. Obviously this is not the case....exchange rates are relative to each other.

All that being said...the bank ought to let you transfer dollars directly anyhow.