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Newbie
Joined: 07 Feb 2003
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 Posted: Tue Dec 12, 2006 10:26 pm Post subject: Canadians: speculation on the exchange rate |
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It's gone under 800 for the first time since I got here (early 2003, when it was about 770).
For those of you sending money home, what are you thinking? Is now the best time or are you gonna hold out for a better rate?
(this is all a kick to my balls. as of october this year i had no obligations to send money home at all. for 3 years it was a monthly event at about 850-860. now that i don't have to send anything, the rate gets better  ) |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Tue Dec 12, 2006 11:03 pm Post subject: |
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I'll send a few thousand.. nothing major.
The rate is nice, but not a major factor in my money movements right now. |
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jlb
Joined: 18 Sep 2003
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| Posted: Tue Dec 12, 2006 11:29 pm Post subject: |
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| Ya, I'd be curious to hear what you economic types think. Is the rate going to get better for us? |
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DaeguKid
Joined: 09 Dec 2006
Location: Daegu
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| Posted: Wed Dec 13, 2006 7:07 am Post subject: |
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Newbie, I send bling home every month...or try too. My take is this, if the economy goes boobs up here, you got beaver bucks in your account in the Great White North instead of a bunch of won in a world that doesnt care for it.
Rates fluctuate, but right now its low. Jump on it while its low. Yes Im going to push to send a little more than I usually do this month, but if your going to concern yourself about the potential of being up or down $20 or $30 then it just leads to more stress. Just send it and its done...kind of like spilt milk, cant do much about it after the milk is gone. Good luck in your choices
DK |
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ajgeddes
Joined: 28 Apr 2004
Location: Yongsan
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| Posted: Wed Dec 13, 2006 4:04 pm Post subject: Re: Canadians: speculation on the exchange rate |
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| Newbie wrote: |
It's gone under 800 for the first time since I got here (early 2003, when it was about 770).
For those of you sending money home, what are you thinking? Is now the best time or are you gonna hold out for a better rate?
(this is all a kick to my balls. as of october this year i had no obligations to send money home at all. for 3 years it was a monthly event at about 850-860. now that i don't have to send anything, the rate gets better ) |
This isn't rare. In the spring of 2005 it was about 780. So, it seems like this happens a lot. |
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Return Jones
Joined: 06 Feb 2004
Location: I will see you in far-off places
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| Posted: Wed Dec 13, 2006 10:52 pm Post subject: Re: Canadians: speculation on the exchange rate |
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| ajgeddes wrote: |
| This isn't rare. In the spring of 2005 it was about 780. So, it seems like this happens a lot. |
Pretty rare though. That was May 2005 - over 18 months ago. It was only for a few days, too.
This time the rate has yet to break 800. Yahoo finance and other such sites post inter-bank rates, not what the typical consumer gets. KEB is quoting 804 right now to wire money home. The cash rate is about 812.
I'm on the fence about what to do. I don't need to send home money, so I might hold out a few more weeks but then again...
These fluctuations really do matter, too. For example, a 2 million salary can go up and down by as much as $150 from month to month. That's significant.
Can anyone recommend the place to get the best rates? I think they're pretty much all the same aren't they? |
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twg
Joined: 02 Nov 2006
Location: Getting some fresh air...
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| Posted: Thu Dec 14, 2006 5:02 am Post subject: |
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| I'm going to send money home next paycheck, so if it holds up, good for me. |
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Newbie
Joined: 07 Feb 2003
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| Posted: Thu Dec 14, 2006 5:55 am Post subject: |
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| DaeguKid wrote: |
Newbie, I send bling home every month...or try too. My take is this, if the economy goes boobs up here, you got beaver bucks in your account in the Great White North instead of a bunch of won in a world that doesnt care for it.
Rates fluctuate, but right now its low. Jump on it while its low. Yes Im going to push to send a little more than I usually do this month, but if your going to concern yourself about the potential of being up or down $20 or $30 then it just leads to more stress. Just send it and its done...kind of like spilt milk, cant do much about it after the milk is gone. Good luck in your choices
DK |
I hear ya, but when one is looking to send 5 million home, it's much bigger than a $20/$30 difference. And that's my boat now, saving long term. So I could keep money here or send a big chunk. October I sent home 13 million and got about $15,200. If I sent it home yesterday, it would have been about $16,000.
Figure I'll wait a couple of weeks and see where it goes. |
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