Korean Job Discussion Forums

[plutodog18]

Has anyone noticed:

February 6, 2007 $1 = 932.5 Won

March 5, 2007 $1= 948.9 Won


In just one month you have lost almost (but not exactly) 2% of value.

If this keeps up it will start to really mean significant money. It's just like a hidden tax..........OUCH!!!!!

[Ronald]

Looking at Yahoo's currency calculator for the past two years, it could just be a yearly trend. (hopefully)

[Rteacher]

It fluctuates from day-to-day. When I first started in March, 2001, I think the rate was around 1250 won to a U.S. dollar, so it's still a much better rate. No sense worrying about something that you basically have no control over, and it's not really a tax - just a variable that comes with market economies, depending on factors like comparitive purchasing power and balence of trade. I think that it's mainly determined by what investors think the real future value of the dollar will be worth compared to the future buying power of the won...

[mnhnhyouh]

This 5 year graph shows a fairly steady increase in the value of the won...

http://finance.yahoo.com/currency/convert?from=usd&to=KRW&amt=1000&t=5y

h

[plutodog18]

Hate to diagree but the 5 year graph shows an increase in the value of the dollar......

As a long time invester of equities and having arbitraged currencies I believe the dollar is weakening and this will be a more difficult year.

I hope I am wrong as it affects my paycheck also........but if I am correct I hope you are making plans to hold your won until there is a good dip or correction against the dollar.........watch the markets......

just one man's opinion..............

[ajgeddes]

[plutodog18]

Ah no........In January 2003 it cost 1300 Won to get one dollar. Now it is about 948.

Figure it out....if you had a salary of 2,000,000 won per month you could only get $1540 in 2003.

Now 2,000,000 won will get you $2,110

You tell me which currency is stronger?

[ajgeddes]

[Zolt]

Won is going stronger, it does not take a rocket scientist to figure that out!

I'd be very interested to know how your investments are going pluto, must be edifying.

"Umm cool, my stocks are really strong today! yesterday they traded at $100 now they trade at $50" great, what a fortune I'm going to make!"

[tophatcat]

Sorry! plutodog18! But, the won is stronger? I had asked how long you had been in Korea. Now, I ask how long you have been anywhere, period!

[mnhnhyouh]

[billybrobby]

[freethought]

Man,

this is one of the funniest "i'm right and your wrongs" to appear on this board in a long time...

Anybody want to take investment advice from this self-proclaimed long time investor???

[plutodog18]

Investments doing great thank you.

If you arbitrage currencies the strength or value is determining one currency against another and therefore where you will have the greatest return (all the rocket scientists tuned in???).

If I get a greater return on DOLLARS from getting and then converting won to dollars (as compared to when I first received the won), then the dollar is stronger and I want a lower (read weaker) won to increase my return. This becomes particularly important when you have a steady inflow (read salary) of won and want to increase the amount of dollars you ultimately walk away with. In that scenario the DOLLAR is stronger and your net return is positive (read profit). That is strength!!!!!

How are your investments doing? Oops..... are you investing in the local pub perhaps.

[tophatcat]

I�ve read several of plutodog18�s posts. He�s funnier than a standup comedian. Though, I don�t think he�s as bright. Nope! I�d rather have my 11 year old cousin making investments for me.