wrong-ps Posted October 16, 2013 Posted October 16, 2013 Hi i have been quoted by some korean clinics to pay in usd. but i was wondering is it better for me to pay in korean won as i may lose out in terms of paying is usd compared to korean. but why am i losing out because the clinic quoted me in usd?
aventine Posted October 16, 2013 Posted October 16, 2013 It might be easier to carry USD and change it over to won. 1. Easier for you to get USD than KRW abroad or 2. The exchange rate is almost one to one but they like USD as they can currency trade with it when the rate goes up. The choice is yours. Do whatever you feel like. Your money talks
wrong-ps Posted October 16, 2013 Author Posted October 16, 2013 erm i was wondering financially wise am i losing out if i pay in usd or korean won? :/
aventine Posted October 16, 2013 Posted October 16, 2013 well depends on the rate of your home currency when changing over right?
aventine Posted October 16, 2013 Posted October 16, 2013 Well take USD to change to KRW in Korea. Buying won abroad never gets a good rate.
riko12 Posted October 16, 2013 Posted October 16, 2013 I think you should ask them quote you in won, it is better for you to compare the price too.
shinyglittery Posted October 16, 2013 Posted October 16, 2013 I agree with all of this! ps. I know Americans think us$ is some kind of global currency and maybe in poor countries with weak currencies it is... but can you pay for your PS in Beverly Hills in Korean Won? then why in USD in Korea... same thing, if you pay in the wrong currency the clinic has to exchange it... so I think it makes no sense to pay in some other currency...
hyong Posted October 16, 2013 Posted October 16, 2013 depends,some went over and withdrew local won to pay some carried usd over the border. common sense denotes that the won only comes in small denominations :x 10000 or 50 000 max, u would be walking in tons of won, feeling really rich which would be totally ill advised. of course korea have a special kind of cheque? ,available in bigger denominations but i doubt you could get it in your home country.
wrong-ps Posted October 16, 2013 Author Posted October 16, 2013 eh the problem is i already changed my sg money for surgery to usd. if i was to change my usd to sgd and to korean won will i be on the losing end? anyway i am from singapore, the won sg has is 10000 and 50000 @hyong did you bring korean won or sgd? if i was to change my usd from sgd to korean won will i be on the losing end financially? if i was to change my usd in korea i heard its a very bad rate..
hyong Posted October 17, 2013 Posted October 17, 2013 Hi, its fine i brought sgd into korea actually and changed it there,rates are alright if you dun do it at the airport , definitely dun change it at the airport.Because sgd comes in larger denomination of 1000s,so for convenience sake i brought sgd to korea ,i am a lazy person :x i felt its better to leave your currency as it is, changing from sgd to usd would already caused u to lost a few % due to the exchange rate , and then changing it to usd again,would loses you another few % ,it stacks up. Maybe just ask for the qoute in won first ?,then offer to pay in usd ?
wrong-ps Posted October 17, 2013 Author Posted October 17, 2013 hi hyeong, ok so i just keep my usd as it is don't change back to sgd and then korean won right? rates for usd are good today. i changed it last week made a loss of 20sgd if i was to change usd in korea also ok right?
hyong Posted October 17, 2013 Posted October 17, 2013 I think its best to just keep it money changers could be found at myeongdong and other shopping areas plus there's a US army camp in Seoul as well,one would assume that there would be some sort of demand for usd to won exchange.
shinyglittery Posted October 17, 2013 Posted October 17, 2013 yes, if you exchange do it in Korea. outside Korea in any country... bad rates for any currency. common sense... the further away from the country you are, the worse rates for their currency... because you either have to accept bad rates or travel thousands of km to get better rates... myeongdong is better rates than banks never ever exchange at the airport... think airport food is expensive? try airport money exchange...
vanilla-creme Posted December 26, 2013 Posted December 26, 2013 Hi, I'm travelling to Seoul in Feb. Can anyone advice me which is the best way to get the best exchange rate? I'm thinking of exchange SGD to USD in S'pore, then USD to KRW in Seoul. Is this more profitable than exchanging SGD to KRW in S'pore? Or SGD to KRW in Seoul?
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