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Exchanging Rands for Won

 
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stickfigure



Joined: 06 Jul 2010

PostPosted: Mon Aug 02, 2010 4:13 am    Post subject: Exchanging Rands for Won Reply with quote

Hi everyone, I'm hoping a South African can help me on this one (or anyone who knows Smile ). I can't find a Forex place around here (South Africa) that sells won so it looks like I'll have to do my exchanges at the airport.

If I don't manage to buy won at Joburg International should I take my rands over to Incheon and do the exchange there or should I rather buy $US over here and take that over to do the exchange. I'm not sure if I'll have trouble with finding someone who accepts rands.

Thanks
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SeoulNate



Joined: 04 Jun 2010
Location: Hyehwa

PostPosted: Mon Aug 02, 2010 5:02 am    Post subject: Reply with quote

My girlfriend has been in a similar situation for the last almost 4 years here.

Bring US $ with you, you will have a hard time exchanging Rand and an even harder time getting proper value for it.

After you have a bank account, you will not have any problems sending money home as long as your bank in S.A is international as they do transactions in $$ anyway.
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scorpiocandy



Joined: 27 Feb 2008

PostPosted: Mon Aug 02, 2010 5:15 am    Post subject: Reply with quote

I'm South African and ever since first arriving have had to buy dollars in SA and then buying Won here.
KB has Rands, but I think it's only the bigger branches. I tried to buy some before I came home on holiday but it was turning out to be a hassle.

Buy the dollars in SA.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Mon Aug 02, 2010 7:18 am    Post subject: Re: Exchanging Rands for Won Reply with quote

stickfigure wrote:
Hi everyone, I'm hoping a South African can help me on this one (or anyone who knows Smile ). I can't find a Forex place around here (South Africa) that sells won so it looks like I'll have to do my exchanges at the airport.

If I don't manage to buy won at Joburg International should I take my rands over to Incheon and do the exchange there or should I rather buy $US over here and take that over to do the exchange. I'm not sure if I'll have trouble with finding someone who accepts rands.

Thanks


DO NOT BUY WON outside of Korea.
Do not sell Rand outside of S.A.

Buy dollars and exchange to won AFTER you arrive in Korea.
The rate at the (ICN) airport is the same as the rate in the city.

You won't be able to easily convert Rand here and you will pay dearly for buying won outside of Korea.

.
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stickfigure



Joined: 06 Jul 2010

PostPosted: Tue Aug 03, 2010 12:48 am    Post subject: Reply with quote

Thanks a lot guys, guess I'll be buying dollars before I go.

For interest sake, why not buy won outside of Korea? Is the rate much worse for some reason?
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