Korean Job Discussion Forums

[D.D.]

I was watching all the Americans complain about the won last week and I did a check against the Canadian dollar. It was $1996 Canadian for 2 million won .

Today I did a check and it was $1800 Canadian for 2 million won. That is quite harsh for 1 week to drop almost 200 bucks.

For those Americans out there check this out- 2million won now is only $1741 U.S.

Ouccccccccchh.

[cdninkorea]

The exchange rate for Canadians is the worst I've ever seen it: 1 million won buys $899 Canadian. It's been a few years, but I remember when it was $1200 Cdn.

[Captain Corea]

[wings]

I read a few days ago that the canadian dollar is expected to drop by about 8% over the next few months, so hopefully that will help to eventhings out somewhat. Until then I guess it's just time to tighten those purse strings...

[D.D.]

It's down to 2 million won to $1788 as of 11 a.m. Should I sign my new contract at 2.3 million will only be $2058 Canadian a month?

Yanks are getting a wopping $1733 for two million.

[cdninkorea]

[poet13]

So where would be the best place to exchange dollars right now? I have a bunch. I thought of going to the bank, where I bought them in July for 1025won-1$. On the other hand, with the banks fat premium, would I get a better rate from an exchange shop on the street in Itaewon? I will be there tomorrow to do some stuff.

[chachee99]

I hate the Canadian dollar.

[marlow]

Look at the five-year-graph on Yahoo!, and pinpoint when Lee Myung Bak took office.

[alphalfa]

The rate of exchange on the Canadian dollar is now 1,115.30.
Just a couple of months ago things were fine - my current bank
balance of KW93,000,000 would have gotten me ~$CAD95,000.
I was looking forward to reaching $CAD100,000 by years end.
NOT! Now, the same bank balance gives me a paltry $CAD83,500
- a loss of $CAD11,000!! This money is GONE.

To put it in perspective, the salary I received for the first five months beginning in March this year is what I have LOST from the recent
changes to the exchange rate.

What's the point of staying? It's a serious financial problem.

[ajgeddes]

How is the money gone? You haven't exchanged it yet and really you never had any CDN$.

[marlow]

THIS HAS THE MONTHLY AVERAGES FOR 1998

[Newbie]

[victorology]

[poet13]

hmm, seems to me that there is some money to be made just flipping the currencies...if only it were able to be done on a grander scale....
The return isn't huge, maybe 8-10%, but that's not bad today....