As one of the hottest tourist spots in Seoul, you can easily find money changers in Myeongdong. There are two types though, one is the street vendor money changers, the other one is local Korean bank offering currency exchange service.
Street Money Changers at Myeongdong
Street Money Changers are plentiful at Myeongdong. You can find one almost every 20 meters to 30 meters. For that reason, you can get one of the best exchange rates in Seoul here because money changing is a very competitive business here.
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You can see many money changers at almost every part of the street in Myeongdong. |
Most money changers in Myeongdong will display their exchange rates for USD, Yen, Euro and Chinese Yuan publicly at their store. You can their exchange rates before deciding which money changer to change your money at. If you can't speak Korean language, don't worry, most money changers here understand simple English (at least the currency names). The amount of sum exchanged is usually communicated with numbers on calculators or cashier machine.
Money Changer Shop in Myeongdong. The Exchange Counter is Located Inside the Shop for More Privacy. |
Bank Money Exchange Services in Myeongdong
For those who are more comfortable dealing with bank, or who would like to exchange a very large sum of money, you could also visit a local bank offering currency exchange service in Myeongdong.
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Bank Offering Currency Exchange Service in Myeongdong. |
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Shinhan Bank opposite Nine Tree Hotel offers Currency Exchange. |
Major Currencies Accepted at Myeongdong Money Changers
Four Major Currencies Accepted at All Myeongdong Money Changers |
Like many money changers in Seoul, four major currencies, namely, American Dollar (USD), Euro (Eur), Japanese Yen (Yen) and Chinese Renminbi (RMB) are well accepted here.
If you hold other currencies such as Hong Kong Dollar, Malaysian Ringgit, Singapore Dollar, Philippines Peso, don't be discouraged. Just ask, some money changers in Myeongdong are willing to accept them.
Is it better to bring US dollars in cash or traveler's checks? Do you know which gets better rates?
ReplyDeletewhat is the operating hours of the money changers in myeongdong?
ReplyDeleteYou can find many money changers in Myeongdong operate from 10am to 10pm.
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ReplyDeleteWhat about pakistani rupee? Can they exchange it?
ReplyDeleteWhat about pakistani rupee ?can they exchange it?
ReplyDeletehello myrah naeem, I think pakistani rupee is not commonly exchanged at Seoul. Maybe safer for you to bring USD, Euro, RMB or Yen.
Delete20australia coin in silver change to Singapore dollar How much??
ReplyDelete20australia coin in silver change to Singapore dollar How much??
ReplyDeleteDo money changer accept old USD100 notes?
ReplyDeleteMoney is money everywhere. They will accept it. How old are yours?
Deletecan you exchange British pounds sterling?
ReplyDeleteYes, there are money changers in Myeongdong that exchange British pounds (not all though, just ask around and you can find).
Deleteare the money exchange counters open a weekends. if yes what are their operating hours. thanks
ReplyDeleteYes, many money changers are open weekends. The operating hours are normally from 10am onwards up to 10pm.
DeleteDo they accept ringgit (myr) nowadyas in korea myengdong ?thanks..
ReplyDeleteHello Alice Tnee,
DeleteUSD, Euro, Yen and RMB are widely accepted by money changers in Myeongdong and Seoul. MYR is also accepted by some money changers in Myeongdong (but not all). You can ask a few money changers before exchange to get better exchange rate.
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ReplyDeleteHi, i just came across yiur blog. Is AUD accepted nowadays in Korea? Thank you
ReplyDeleteHi there do you exchange Australia dollar...
ReplyDeleteHello,
DeleteYes, Australian Dollar is accepted in some money changers (but not all).
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ReplyDeleteHello, really good post!
ReplyDeleteDo you think it is possible to exchange Swiss Francs? Do you think they accept it in Myeongdong or in a bank? Or would it be better to exchange it in euros 1st? (but that way I would lose a lot of money). Thanks.
Hello Sara Aguiar,
DeleteI believe you can exchange Swiss Francs in bank but street money changer may not accept it. Euro is accepted everywhere here and the rate is better too. So you won't loss a lot of money if you exchange Euro because the rate is very competitive.
hi, may I know which exit should I take?
ReplyDeleteHi there, Is New Zealand currency acceptable for street money change in Myeongdong?
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ReplyDeleteFor sgd1000, how much korean won can i get?
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