Wednesday, February 4, 2009

GBP/KRW Buying Korean Won


I travel to Seoul in South Korea about every year or so. As such I need Korean Won (approx £1 = KRW2000) for taxis, books, restaurants etc.

I've found the best way to buy hard cash is to watch the currency DAILY then buy when it's peaking. I ran a spreadsheet and it works out best (taking into account the NatWest preferential rates) to take out currency about three times a year. I bundle the cash into my flight bag and it's never been a problem.

Anyway, I recently tried to transfer my FX online but I haven't succeeded yet. I called Barclay's (BARX FX / Stockbrokers) but they don't support GBP/KRW. I've actually called a few companies of the last year and actually no one lets me trade this currency pair online. I'd love to be able to trade GBP/KRW options.

It's also my aim this year to set up FX trading in general - albeit for the boring currency pairs.
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Footnote: Seoul is a fantastic city - very under visited by most westerners. Korean culture and food is close to Japanese, but it is a very distinct culture - see "Old Boy", "Bittersweet Life" and other such movies for a taste of the culture (although these two movies are quite extreme). Main problem - the language is very hard to pick up.

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