Korean Job Discussion Forums

BRawk · Joined: 14 Oct 2007

Almost 4 years ago now, I sent my first cash transfer back to canada at 770won/1$ to cover bills and to build some savings.

Today I transferred at the rate of 980won/$1! That's horrible! Effectively I have taken a hit of almost 25%!!!

It's not the same deal it used to be. Newbies should be aware that they won't be saving the same kind of dough that people who were here in the past did.

whatever · Joined: 11 Jun 2006 Location: Korea: More fun than jail.

twg · Joined: 02 Nov 2006 Location: Getting some fresh air...

Hell yeah, it's tear worthy!

Kim Jong Jordan · Joined: 13 Mar 2004 Location: The Internet

I'm hoping it goes down.....(fingers crossed)

The_Eyeball_Kid · Joined: 20 Jun 2007

Atavistic · Posted: Thu Nov 01, 2007 8:11 pm Post subject:

biggpoppa · Joined: 14 Jul 2007 Location: Toronto, Ontario, Canada

moral of the story here for us Canadians is, hold onto your money if you don't need to send anything home...you honestly think our dollar is going to hold at this ridiculous 970 won? of course not...give it about 5 - 6 months and you'll see it dip to probably about the 850 mark...maybe 800 if we are lucky...

i'll say by mar 08 someone can post a happy Pacey pic up here Smile

genezorm · Joined: 01 Jul 2007 Location: Mokpo

my advice...if you don't buy a canadian flag for your backpack you can save a bit more.....

htrain · Joined: 24 May 2007

I honestly doubt the canadian dollar is going down any time soon given China's massive growth and the need for Canadian commodities worldwide. The CAD will go down when Canada stops producing so much gold, uranium, oil, etc. Your country's economy is strong. Korea doesn't have much going for it.

laura-and-ryan · Posted: Thu Nov 01, 2007 8:45 pm Post subject:

someone on here not long ago posted something similar....someone put up a chart about the general trend of the loonie vs the won over the year....the won generally rises towards the dollar as it gets closer to christmas only to tail off to a lower rate somewhere around march/april

here is the photo's Jarome_Turner posted on http://forums.eslcafe.com/korea/viewtopic.php?t=99279&highlight=loonie

past year:

past 5 years:

shaunew · Joined: 17 Apr 2007 Location: Calgary

Add the pathetic American economy who week after week is doing down the drain. Look at the Dow yesterday losing 380 or so points. Huge job losses and the credit crisis es is not over yet. I would hate to be an American at this time. Looks like the once great power is going down the drain.

No_hite_pls · Posted: Thu Nov 01, 2007 8:47 pm Post subject:

Saxiif · Joined: 15 May 2003 Location: Seongnam

htrain · Joined: 24 May 2007

A similar alternative to investing in Russia would be to punch yourself in the nuts and flush all your money down a toilet.

I'm American.

America=sh1tty investment. I'm invested in Australia and Canada right now, and the commodities have been roaring.

No, it doesn't suck to be American right now if you have your money invested abroad and don't plan on moving back. It also helps to make $45/hour teaching while your friends back home would have to make a pre-tax $60 to come even close Smile

bassexpander · Joined: 13 Sep 2007 Location: Someplace you'd rather be.

It's a cycle for Americans.

I'm not so worried.