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The Sherriff
Joined: 10 Jan 2010
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 Posted: Tue Oct 25, 2011 1:45 pm Post subject: Exchanging Money in Korea - What rates for CAD/USD? |
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I'm planning on coming over in a couple weeks, and want to bring a few grand for key money and to help keep me afloat until I find some work.
I'm a Canadian, so all my funds are in CAD, but in my experiences abroad, I've always found the USD to have much more favourable exchange rates (generally extremely close to the actual valued exchange) than the CAD (off by a few %). No one wants to buy CAD, I guess it's not useful for foreign transactions.
Does anyone know what sort of real exchange rates I can get for cash exchanges in Seoul for both the CAD and USD? If I change to USD, I'll basically be hit with two exchange commissions since I'll be exchanging my original CAD twice, but if the rates for CAD are bad in Korea, then it might be worth it.
Anyone have any insight? Thanks. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Oct 25, 2011 3:48 pm Post subject: Re: Exchanging Money in Korea - What rates for CAD/USD? |
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| The Sherriff wrote: |
I'm planning on coming over in a couple weeks, and want to bring a few grand for key money and to help keep me afloat until I find some work.
I'm a Canadian, so all my funds are in CAD, but in my experiences abroad, I've always found the USD to have much more favourable exchange rates (generally extremely close to the actual valued exchange) than the CAD (off by a few %). No one wants to buy CAD, I guess it's not useful for foreign transactions.
Does anyone know what sort of real exchange rates I can get for cash exchanges in Seoul for both the CAD and USD? If I change to USD, I'll basically be hit with two exchange commissions since I'll be exchanging my original CAD twice, but if the rates for CAD are bad in Korea, then it might be worth it.
Anyone have any insight? Thanks. |
Bank wire not an option for you? Flat rate for the transfer and rates comparable to the overnight rate on the exchange.
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Tue Oct 25, 2011 4:35 pm Post subject: |
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| Just bring your Canadian cash. You will get a fair exchange rate for it. Some countries offer a good exchange rate for CAD and others do not. Depends on the country. South Korean banks offer a fair rate. |
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