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Taking advantage of the exchange rate

 
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Typhoon



Joined: 29 May 2007
Location: Daejeon

PostPosted: Tue Dec 09, 2008 10:04 pm    Post subject: Taking advantage of the exchange rate Reply with quote

So I am moving back to Canada in February.I am looking at losing 1000s of dollars because of the bad exchange. I was thinking of a way to make some back. I need to buy a couple of TVs, a blue ray player, a couple of laptops and other electronics. Would I be able to save some cash by buying them on-line now using my Korean credit card? Am I right in thinking that the exchange rate would work in my favor? A $1000 TV would be about 900 000 Won on my credit card, right? I want to make sure my thinking isn't flawed on this matter. Can anyone give me a yay or nay or any other ways to try to make this exchange work for me?
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aarontendo



Joined: 08 Feb 2006
Location: Daegu-ish

PostPosted: Wed Dec 10, 2008 12:48 am    Post subject: Reply with quote

If the exchange rate is bad, why would it make sense to use your Korean won to buy a product in Canada? There's no advantage to it.

1,000.00 CAD =1,108,243.02 KRW
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crossmr



Joined: 22 Nov 2008
Location: Hwayangdong, Seoul

PostPosted: Wed Dec 10, 2008 12:48 am    Post subject: Reply with quote

you have to pay duty when you take them back to Canada. If you thought about this in August you'd be okay. Anything you own for more than 6 months doesn't have to be declared going back.

er .. you want to buy the item in Canada using your korean credit card and pay it off?
wtf..
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moosehead



Joined: 05 May 2007

PostPosted: Wed Dec 10, 2008 1:04 am    Post subject: Reply with quote

how would you even use something with different electrical current requirements?
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Typhoon



Joined: 29 May 2007
Location: Daejeon

PostPosted: Wed Dec 10, 2008 3:09 am    Post subject: Reply with quote

This is why I need people to wake me up. I always get my transaction stuff backwards. Jesus. So if I were to spend $6000 at Bestbuy.ca and use my Korean creditcard, would the fee on my credit card would be around 6 600 000won right? For some reason I thought it would be 5 400 000won. This kind of shit always messes with my head.

I would be using the electronics I buy in Canada as I am going there to stay. I am not considering buying any electronics here as they are super expensive...TVs are nearly twice as expensive here as in Canada and of course the voltage is a problem too.
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itaewonguy



Joined: 25 Mar 2003

PostPosted: Wed Dec 10, 2008 3:18 am    Post subject: Reply with quote

just wait for the right day to exchange your money..
then buy them in canada .
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lebowski



Joined: 30 Jan 2003
Location: Seoul

PostPosted: Wed Dec 10, 2008 3:47 am    Post subject: Reply with quote

moosehead wrote:
how would you even use something with different electrical current requirements?


hmm. maybe with a voltage converter.

http://en.wikipedia.org/wiki/Voltage_converter

Amazing the things that are invented these days, or rather many moons ago.
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Typhoon



Joined: 29 May 2007
Location: Daejeon

PostPosted: Wed Dec 10, 2008 5:51 am    Post subject: Reply with quote

The dude does abide. Wink
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