Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Stock Swap -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (12753)	3/12/1998 12:59:00 PM
From: Jeffrey S. Mitchell	Respond to of 17305

Re: Currency exchange thing We brought over $33K in cash. Some was for my wife's relatives and some was for trying to convert. Well, if it's too good to be true... My wife's mother-in-law was correct in that you can get a better exchange rate in the gray market than through a bank, but is wasn't nearly as substantial as she had told us. Just like in stocks, there is a buy/sell spread, which was about 7.5% as I recall, so even with help we didn't feel it was worth the hassle of going to a bank to wire the money back to the US. However, I should point out that the whole country is like one big 50% off sale because of the devaluation. For local things, like CDs, the average price was about 12-14,000 won, or between $8 and $9. Books and food were also, therefore, quite cheap. Luxary hotels are a steal and offering really good rates. So, now is a good time to go overseas... but just be sure to bring Tylenol and Pepto (gg). - Jeff