A reader writes: “As a foreigner, I am always worried when a Chinese friend or relative buys my home with korean Yuan.
My husband is currently paying for the house with the Chinese yuan.
I was wondering if you could help me understand how to convert the currency value of korean yen to kong pence.
Thank you.”
“I have read a lot about currency conversion in this forum, and my friend has a similar problem.
When he bought his house with kong-peso, it took him 3 days to convert it to yuan.
The conversion cost him 2,000,000 won.
But the yuan has risen to 5,000 and he is paying it in full in 10 days.”
“As far as my husband is concerned, we are not in a financial situation to pay in full immediately, but will have to wait until the house is paid off.
If we have enough money, we will pay it in installments.”
“My husband bought his first house in 2009 with the kong peso.
In the beginning, he bought the whole house, including the main room, and then he got rid of the garage.
He got rid on his garage and put it on the street, and we moved in together.
We are now in a situation to get rid of that garage and start from scratch.”
The conversion costs for the korean dollar in Hong Kong are about 8,000 yuan.
If you’re interested in learning more about currency conversions, check out my article on converting currencies.