Korean Job Discussion Forums

politica · Joined: 12 Dec 2006 Location: Suwon-si

Okay, I've gotten word that I shouldn't send money back home at the moment (U.S.). I get that, and its okay . . . although a little inconvenient. I have a credit card bill to pay, I wanted to pay it off (I easily could with my Korean money), but can't with my U.S. savings. I can pay the monthly and then some . . . but anyhow . . .

Here are my main questions:
1. Is the exchange rate really going to get better? Is it okay for my to keep my money in Korea?
2. Is it better for me to make purchases with my U.S.-issued credit card (in U.S. dollars) . . . like flight tix and such? I'm looking at a flight ticket to Japan. The travel agent quoted me at 522,000 . . . but it seems that it would only be $367 if I paid out of a U.S. account.

Help?

poet13 · Posted: Wed Oct 08, 2008 8:45 pm Post subject:

The worst thing to be doing right now is buying dollars. They're really expensive. Keep your won here. If your'e buying tickets, just do the exchange rate both ways to figure out which is the best deal for you.
Eventually, the won will go back up. It will return to anywhere from 1200-1000 to the dollar. If you can stand it, keep your money here as long as you can. Don't panic. Neither currency will become worthless.