| View previous topic :: View next topic |
| Author |
Message |
linky123
Joined: 12 Feb 2009
|
 Posted: Mon Mar 16, 2009 9:34 pm Post subject: Exchange rate and your advice... |
 |
|
Well, I will be leaving the states in 12 hours. I withdrew $5000 in traveler's cheque but I've noticed that the exchange rate has gone down for the dollar. Now, it's sitting at 1420 won. It was at one point 1580 few days ago. Do you think I should change to won now or hold on to the dollars until later?
1420 X 5000 = 7.1 mil
1580 X 5000 = 7.9 mil
That's 800,000 won difference.
What would you do? Exchange it now or wait. |
|
| Back to top |
|
 |
afsjesse
Joined: 23 Sep 2007
Location: Kickin' it in 'Kato town.
|
| Posted: Mon Mar 16, 2009 9:38 pm Post subject: |
|
|
Change it once you get here. You'll get royally screwed if you do it outside of Korea. The airport is the best bet or a local bank that exchanges those into the local currency.
It's probably going to go higher HOPEFULLY!!!! We're on a good week long track now! |
|
| Back to top |
|
|
madoka
Joined: 27 Mar 2008
|
| Posted: Mon Mar 16, 2009 9:59 pm Post subject: |
|
|
| I've been getting 1470 in namdaemun quite regularly. I'd wait until you got here and exchange your money here. $5,000 should last you if you're careful. I dunno how people here live on $1,000 for a month. I went through $1000 my first 2 days, so I have to learn to pace myself better. All I bought were a bunch of household items and food. |
|
| Back to top |
|
|
JFuller317
Joined: 10 Oct 2008
|
| Posted: Mon Mar 16, 2009 10:23 pm Post subject: |
|
|
So right now you're holding onto dollars and you want to get the most value for them?
I'd say change them when you get here. It looks like the won is strengthening at the moment, and it could be well under 1400 by next week. Is it possible to hedge your bets and exchange part of it now and part of it later? |
|
| Back to top |
|
|
poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
|
| Posted: Mon Mar 16, 2009 10:26 pm Post subject: |
|
|
Definitely change it here. You'll get hosed over there.
If you are a little careful, 5000$ (US?) can easily last you six months.
I personally think this strengthening of the Won is only temporary, and that in a week or so the profiteers will step in and kick it's butt back up to 1500 and something. That's just my thought though. |
|
| Back to top |
|
|
KAMAKAZI
Joined: 14 Mar 2008
Location: Jamshil
|
| Posted: Tue Mar 17, 2009 1:12 am Post subject: |
|
|
| madoka wrote: |
| I've been getting 1470 in namdaemun quite regularly. I'd wait until you got here and exchange your money here. $5,000 should last you if you're careful. I dunno how people here live on $1,000 for a month. I went through $1000 my first 2 days, so I have to learn to pace myself better. All I bought were a bunch of household items and food. |
Its called being responsible and not going on shopping sprees!! 
Then people like yourself complain later down the road of how much debt you have and cry about the exchange rate |
|
| Back to top |
|
|
michaelambling
Joined: 31 Dec 2008
Location: Paradise
|
| Posted: Tue Mar 17, 2009 1:30 am Post subject: |
|
|
| madoka wrote: |
| I've been getting 1470 in namdaemun quite regularly. I'd wait until you got here and exchange your money here. $5,000 should last you if you're careful. I dunno how people here live on $1,000 for a month. I went through $1000 my first 2 days, so I have to learn to pace myself better. All I bought were a bunch of household items and food. |
...what did you buy?! |
|
| Back to top |
|
|
madoka
Joined: 27 Mar 2008
|
| Posted: Tue Mar 17, 2009 5:39 pm Post subject: |
|
|
| michaelambling wrote: |
...what did you buy?! |
A couple of trips to Shinsegae Department store took about $500 for some clothes. I was working 12 hours day shortly before I left for Korea, so I forgot to pack some stuff. The other half was spent on food (about $100 a day) and household goods. Since I bought a small apartment by City Hall, I needed to start furnishing it with stuff like towels, soap, toliet paper, etc.
This week I got a 26" Samsung HD computer monitor. The salesperson said it was the best they had, but it looks a bit soft compared to the Dell 2709 I have at home. I went to Yongsan to buy a computer, but they seem to only deal with low end stuff. I was hoping for a Nvidia 260 or 280 card from a manufacturer I knew of, but the shops I talked to said that 9800 GTX was the best they were even aware of. All the cases there were cheapies, so I may have to mail order all the parts I want. |
|
| Back to top |
|
|
julesk
Joined: 13 Jun 2008
|
| Posted: Wed Mar 18, 2009 8:09 pm Post subject: |
|
|
| madoka wrote: |
| michaelambling wrote: |
...what did you buy?! |
The other half was spent on food (about $100 a day) and household goods. |
You spent $100 a day on food?!?!? Are you serious? What were you eating???? |
|
| Back to top |
|
|
kimuchiii
Joined: 02 Dec 2007
|
| Posted: Wed Mar 18, 2009 8:58 pm Post subject: |
|
|
| julesk wrote: |
| madoka wrote: |
| michaelambling wrote: |
...what did you buy?! |
The other half was spent on food (about $100 a day) and household goods. |
You spent $100 a day on food?!?!? Are you serious? What were you eating???? |
Hopefully madoka meant a week...?  $500 on clothes was a one time thing though right? Do you spend $500 every month? If not that brings you back to around $500 a month for daily stuff less if you aren't refurnishing/resupplying your house every month, no? |
|
| Back to top |
|
|
PRagic
Joined: 24 Feb 2006
|
| Posted: Wed Mar 18, 2009 9:00 pm Post subject: |
|
|
| SUBPRIME MORTGAGE CANDIDATE WAITING TO HAPPEN. Be thankful you the hell out of your home country before you did some real damage. |
|
| Back to top |
|
|
espoir
Joined: 09 Oct 2008
Location: Incheon, South Korea
|
| Posted: Wed Mar 18, 2009 9:38 pm Post subject: |
|
|
| julesk wrote: |
| madoka wrote: |
| michaelambling wrote: |
...what did you buy?! |
The other half was spent on food (about $100 a day) and household goods. |
You spent $100 a day on food?!?!? Are you serious? What were you eating???? |
Exactly what I was thinking. Unless he ate outback steak 3 times a day there is no way food should ever cost much. I normally dont spent more than 7,000won a day on food, but then again I cook for myself normally. |
|
| Back to top |
|
|
nosmallplans
Joined: 10 Oct 2008
Location: noksapyeong
|
| Posted: Wed Mar 18, 2009 9:46 pm Post subject: |
|
|
I've done $100 in food in a day. That was wild.
Big pancake breakfast - W20,000
Big 'Medican' lunch (@ OTB) - W35,000
Big 'French' dinner (@ Itaewon) - W65,000
It was a one time thing. The girlfriend was in town and we were celebrating an anniversary. My group of friends usually makes it out to OTB at least once a month though where we splurge as much as W40,000 a person on meals. |
|
| Back to top |
|
|
Pwillig
Joined: 26 Jan 2009
|
| Posted: Wed Mar 18, 2009 11:15 pm Post subject: |
|
|
| madoka wrote: |
| I've been getting 1470 in namdaemun quite regularly. I'd wait until you got here and exchange your money here. $5,000 should last you if you're careful. I dunno how people here live on $1,000 for a month. I went through $1000 my first 2 days, so I have to learn to pace myself better. All I bought were a bunch of household items and food. |
Are you SERIOUS? Was your furnished apartment a floor and a bed sheet? I spent 800k won last month and half of that involved frivolous expenses! I mean...were you eating steak 5x a day and cutting them with a hattori hanzo knife? |
|
| Back to top |
|
|
Pwillig
Joined: 26 Jan 2009
|
| Posted: Wed Mar 18, 2009 11:20 pm Post subject: |
|
|
Doubled my pleasure.
Last edited by Pwillig on Thu Mar 19, 2009 1:40 am; edited 3 times in total |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
