Won Exchange Rate

[bongnino]

Really? Better to change at any money changer on Seoul?

I wouldn't say any money changers, but most of them do offer good rates.

The best one is in Myeongdong, 5 minutes walk from Myeongdong MTR, right beside the China Embassy.

It is very well known and you can easily google and find more information on it.

It was mentioned somewhere in this thread as well. If you're changing large sums, I think it's best to make a trip there to change instead of doing it at Arcade, which offers so called the best rate in SG.

I find it really sad that people lose money instantaneously when they change at the Arcade, compared to making a trip to Myeongdong to change.

 

[prayhard83]

To change in korea ,is it better to use usd or sgd to change ? Asking cos I'm flying in from US.

 

[denial86]

I wouldn't say any money changers, but most of them do offer good rates.

The best one is in Myeongdong, 5 minutes walk from Myeongdong MTR, right beside the China Embassy.

It is very well known and you can easily google and find more information on it.

It was mentioned somewhere in this thread as well. If you're changing large sums, I think it's best to make a trip there to change instead of doing it at Arcade, which offers so called the best rate in SG.

I find it really sad that people lose money instantaneously when they change at the Arcade, compared to making a trip to Myeongdong to change.

Lol why must you be sad? It's a choice at the end of the day. Some people don't like uncertainty.

 

[saffronsatire]

Lol why must you be sad? It's a choice at the end of the day. Some people don't like uncertainty.

precisely, there's a price to pay for convenience ba. anyway, ytd oue linkbridge i saw 865. rate not going up drastically these few days.

 

[sCuzzZy]

865 still?

such disgusting spread.

 

[corncornahdo]

Anyone know the rate for Arcade? There website not working. Can't enter to check since yesterday!

 

[bongnino]

precisely, there's a price to pay for convenience ba. anyway, ytd oue linkbridge i saw 865. rate not going up drastically these few days.

Well, I think it's a bigger price to pay to lose money (sometimes upward of hundreds of dollars if the change amount is huge), when one simply doesn't bother to do some research or trust people when people say that particular money changer in myeongdong always offers much higher rates.

I mean, there are people who personally tried it multiple times over the years and always get good rates, saving hundreds of dollars in the process.

And then there are people who insist on changing theirs in sg and losing hundreds in the process.

I mean, to each his own, I'm just sharing ways to get more out of your SGD and not let it go to the money changers here... lol.

 

[denial86]

Well, I think it's a bigger price to pay to lose money (sometimes upward of hundreds of dollars if the change amount is huge), when one simply doesn't bother to do some research or trust people when people say that particular money changer in myeongdong always offers much higher rates.

I mean, there are people who personally tried it multiple times over the years and always get good rates, saving hundreds of dollars in the process.

And then there are people who insist on changing theirs in sg and losing hundreds in the process.

I mean, to each his own, I'm just sharing ways to get more out of your SGD and not let it go to the money changers here... lol.

Not speaking against you but hundreds seem like an exaggeration. How much would you have to change before you end up with hundreds in difference?

 

[saffronsatire]

Not speaking against you but hundreds seem like an exaggeration. How much would you have to change before you end up with hundreds in difference?

assume rate is 875 (~1.17) vs 855 (~1.14), that's about sgd30 per sgd1000 you change, assuming the difference is that much.

then 30/1000 is 3%. qn is, is 3% a lot to you? only you can decide for yourself.

correct me if my math is wrong.

 

[denial86]

assume rate is 875 (~1.17) vs 855 (~1.14), that's about sgd30 per sgd1000 you change, assuming the difference is that much.

then 30/1000 is 3%. qn is, is 3% a lot to you? only you can decide for yourself.

correct me if my math is wrong.

Not sure how you calculate but the current rate in SG now is at least 865 so I think the difference is not as big as you say.

It's more like 1.1% I think (based on sgd's 865), and for every 1k changed, there's like a difference of $11 which means I would have to change 10k to even hit a hundred in difference. Hence why I thought "hundreds" was an exaggeration.

Of course every little bit counts and I'm not saying there's anything wrong with going to Korea first to change, just saying some people probably don't see the point of uncertainty.

 

[bongnino]

precisely, there's a price to pay for convenience ba. anyway, ytd oue linkbridge i saw 865. rate not going up drastically these few days.

Not sure how you calculate but the current rate in SG now is at least 865 so I think the difference is not as big as you say.

It's more like 1.1% I think (based on sgd's 865), and for every 1k changed, there's like a difference of $11 which means I would have to change 10k to even hit a hundred in difference. Hence why I thought "hundreds" was an exaggeration.

Of course every little bit counts and I'm not saying there's anything wrong with going to Korea first to change, just saying some people probably don't see the point of uncertainty.

Well, the rate I got last week was 875. So let's say the difference is 10KRW. Changing SGD100 would be a difference of about 1000KRW? Let's say a person changes on average SGD1000 per holiday trip to Korea, doing in Korea would give you about 10,000KRW more I think?

I guess you're right, t's really not much, but collectively, it's actually quite substantial.

While it isn't much, it's still much higher than what some of the best ones in SG are offering, and while it isn't much, people here are already monitoring it daily and trying to check Arcade website regularly, just to squeeze out that few KRW more.

I'm just saying if possible, pay the Myeongdong one a visit since it always offers better rate, tried and tested by many.

Although it also means making Myeongdong one of the first stops of the trip, which for some, it may not be that hard since there's a subway station and it's often than not visited by most visitors on holiday there.

Just sharing, no hard feelings okay?

 

[Thom07]

Hi

Would like to check if the money changers in myeongdong accept sgd?
Commonly accepted by most or selected few only?

As several travel blogs and online info are telling me that most only accept USD, Euro,yen,rmb.

Paiseh. First time going to Seoul.

 

[bongnino]

Hey, they mostly accept SGD. If you're planning to change there, go to the one beside the China Embassy, 5 minutes walk from the subway station.

 

[prayhard83]

Is the rates for sgd or USD more favourable if change in korea ?

 

[corncornahdo]

anyone knows the rate for today? Thanks in advance!

 

[saffronsatire]

rate dropped slightly... oue linkbridge was 860 at lunch. might be slightly higher at arcade.

 

[denial86]

Well, the rate I got last week was 875. So let's say the difference is 10KRW. Changing SGD100 would be a difference of about 1000KRW? Let's say a person changes on average SGD1000 per holiday trip to Korea, doing in Korea would give you about 10,000KRW more I think?

I guess you're right, t's really not much, but collectively, it's actually quite substantial.

While it isn't much, it's still much higher than what some of the best ones in SG are offering, and while it isn't much, people here are already monitoring it daily and trying to check Arcade website regularly, just to squeeze out that few KRW more.

I'm just saying if possible, pay the Myeongdong one a visit since it always offers better rate, tried and tested by many.

Although it also means making Myeongdong one of the first stops of the trip, which for some, it may not be that hard since there's a subway station and it's often than not visited by most visitors on holiday there.

Just sharing, no hard feelings okay?

Haha paiseh really wasn't trying to target you or anything. Was just suggesting reasons why people might not bother.

In fact since you've shared about it, when I go to Korea in April, I think I will try out the money changer in Myeongdong.

But I can only do a partial change because will probably be outside of Seoul for the first half of the trip. Hope it's not hard to find!

On a separate note, Arcade money changer's website down since yesterday leh. Cannot even kpo and see rate. Hope it's not permanent haha.

 

[corncornahdo]

Haha paiseh really wasn't trying to target you or anything. Was just suggesting reasons why people might not bother.

In fact since you've shared about it, when I go to Korea in April, I think I will try out the money changer in Myeongdong.

But I can only do a partial change because will probably be outside of Seoul for the first half of the trip. Hope it's not hard to find!

On a separate note, Arcade money changer's website down since yesterday leh. Cannot even kpo and see rate. Hope it's not permanent haha.

Haha the website has been down 3-4 days already

 

[gwen.t8]

9 Mar 2016 1:17PM

Lucky Plaza 855

Arcade Rate 858. If you change above 10k, 860.

Next to Arcade is City Money Changer 862 no matter how much you change.

Called Arcade money changer this morning to ask for the rate and he replied they will no longer quote price over the phone & website. They kinda shut off the website i guess.

Should have change at 870

 

[skarfy]

As fast as the rate went up, it's going down pretty quickly too
I'm going 1st Apr, don't know to change now or wait...