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How accurate is www.xe.com?
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call_the_shots



Joined: 10 Oct 2008

PostPosted: Wed Oct 15, 2008 6:32 pm    Post subject: How accurate is www.xe.com? Reply with quote

I've been checking xe.com this morning, and the won has been hovering close to 1245. But Yahoo News says it fell to 1354. Which one is correct?

http://ph.news.yahoo.com/rtrs/20081016/tbs-markets-korea-forex-open-b8dd11d.html
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Dukey77777



Joined: 28 Jun 2007
Location: Chungcheongbuk-do

PostPosted: Wed Oct 15, 2008 7:28 pm    Post subject: Reply with quote

http://www.bloomberg.com/markets/currencies/asiapac_currencies.html
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Imrahil



Joined: 04 Feb 2008
Location: On the other side of the world.

PostPosted: Wed Oct 15, 2008 7:52 pm    Post subject: Reply with quote

I have always found it to be fairly accurate, but when I go to KEB the total has always been about 10 dollars lower then on the website.
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Paddycakes



Joined: 05 May 2003
Location: Seoul

PostPosted: Wed Oct 15, 2008 8:11 pm    Post subject: Reply with quote

I think XE gives a bank to bank rate.

You're not going to get as good a rate.
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moosehead



Joined: 05 May 2007

PostPosted: Thu Oct 16, 2008 1:39 am    Post subject: Reply with quote

yeah, that's a currency trader's site - or for other big bucks usage

you can still use it to get a general idea but if you have to buy/sell in a bank like the rest of us peasants, just be prepared for the amounts to vary - in the bank's favor, of course
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Yesterday



Joined: 15 Aug 2003
Location: Land of the Morning DongChim (Kancho)

PostPosted: Thu Oct 16, 2008 2:04 am    Post subject: Reply with quote

This site - http://www.x-rates.com/calculator.html

gives me ALMOST the SAME figure when I go to the bank and send the money...
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Thu Oct 16, 2008 2:50 am    Post subject: Reply with quote

Yesterday wrote:
This site - http://www.x-rates.com/calculator.html

gives me ALMOST the SAME figure when I go to the bank and send the money...


I just checked this one and it is about 8.5% off the posted rates in the bank downstairs.

Buying dollars and paying in won:
Website $1-1237 won.
Posted rate in the bank $1=1350 won.
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mindmetoo



Joined: 02 Feb 2004

PostPosted: Thu Oct 16, 2008 2:57 am    Post subject: Reply with quote

Every company I've ever worked at uses the XE quote to calculate how to refund expenses for trips to the USA.
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Yesterday



Joined: 15 Aug 2003
Location: Land of the Morning DongChim (Kancho)

PostPosted: Thu Oct 16, 2008 3:08 am    Post subject: Reply with quote

ttompatz wrote:
Yesterday wrote:
This site - http://www.x-rates.com/calculator.html

gives me ALMOST the SAME figure when I go to the bank and send the money...


I just checked this one and it is about 8.5% off the posted rates in the bank downstairs.

Buying dollars and paying in won:
Website $1-1237 won.
Posted rate in the bank $1=1350 won.


Thats strange - I checked x-rates Monday morning -

How much Australia cash will I get for 3,700,000won?

X-rates said AUD$4,300.00

I went immediately to the bank -

I sent AUD$4,300.00 the bank charged me 3,680,284won

The next morning the $4,300.00 was in my Australian bank account.

that was almost the same....


(*ps - I am happy with the current global economic situation - If I had sent 3,700,000won 3 weeks ago - I would have only got AUD$3,800.00) - so I already made an extra AUD$500.00 of this situation
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huffdaddy



Joined: 25 Nov 2005

PostPosted: Thu Oct 16, 2008 5:55 am    Post subject: Reply with quote

mindmetoo wrote:
Every company I've ever worked at uses the XE quote to calculate how to refund expenses for trips to the USA.


In a relatively stable market, xe.com is accurate. In a market like the won is in, with 5% daily swings, it is often out of sync. Best to check the KEB site.

Just an addendum, sometimes the board at the bank is wrong. When I was at KEB on Monday they gave me a different rate than what the board showed. I asked about it, and they showed me the time and sales on their computer. So make sure you ask first!
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bogey666



Joined: 17 Mar 2008
Location: Korea, the ass free zone

PostPosted: Thu Oct 16, 2008 6:50 pm    Post subject: Re: How accurate is www.xe.com? Reply with quote

call_the_shots wrote:
I've been checking xe.com this morning, and the won has been hovering close to 1245. But Yahoo News says it fell to 1354. Which one is correct?

http://ph.news.yahoo.com/rtrs/20081016/tbs-markets-korea-forex-open-b8dd11d.html


yup.. during some down time yesterday I was surfing around knowing the US stock market had gone down BIG, which I knew spelled big trouble for the won.

at like 10 am, xe was showing 1230,or so.. which defied belief.
so was bloomberg..

when I came back from my class, bloomberg had updated their quote and put up a story about the won suffering a monster near 10% fall.

xe was definitely quite late.

I'd say just check keb, they will be current and use the middle between their bid/ask to see where it is.

besides.. 20 won one way or the other means nothing these days.
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seosan08



Joined: 10 Oct 2008
Location: Korea

PostPosted: Thu Oct 16, 2008 6:55 pm    Post subject: The Whole Shebang on One Page Reply with quote

World Markets

http://www.indexq.org/
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bobbyhanlon



Joined: 09 Nov 2003
Location: 서울

PostPosted: Thu Oct 16, 2008 6:55 pm    Post subject: Reply with quote

i think it doesn't update during daytime in asia because of the time difference (thats my guess anyway). go to http://stock.naver.com if you can read korean. theres a line on this page which says '원달라' and that will tell you the exchange rate now.
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Tiger Beer



Joined: 07 Feb 2003

PostPosted: Thu Oct 23, 2008 10:05 pm    Post subject: Reply with quote

I don't notice XE.COM fluctuating as much as I'd think it should.
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Easter Clark



Joined: 18 Nov 2007
Location: Hiding from Yie Eun-woong

PostPosted: Thu Oct 23, 2008 10:38 pm    Post subject: Reply with quote

bobbyhanlon wrote:
i think it doesn't update during daytime in asia because of the time difference (thats my guess anyway). go to http://stock.naver.com if you can read korean. theres a line on this page which says '원달라' and that will tell you the exchange rate now.


A direct link:

http://stock.naver.com/world/sise.nhn?symbol=USDKRWSMBS

This time last year it was at 907. Today it's at 1,424. Crying or Very sad
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