Korean Job Discussion Forums

hugo_danner · Joined: 21 Jun 2006 Location: korea

The last several months when the dollar fell to close to 80, the Won responded by dipping down to less than 920. The dollar is weak now at less than 80, but the won is stuck at 939 or so. Is the Korean central bank intervening or something?

http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=KRW&submit=Convert

http://ichart.finance.yahoo.com/1y?usdkrw=x

pest2 · Joined: 01 Jun 2005 Location: Vancouver, Canada

I actually thought it was going to get worse. The won fell alot 2 weeks ago and since I thought it would keep going, I wired home 5 grand just in case... but then it stabilized.. I had heard that it would keep dropping, but... who knows. Maybe the Koreans found a way to increase confidence.

johninmaine · Joined: 29 Jul 2007

...maybe had to do with Bush's visit to North Korea, etc and all the news it brought to the peninsula. any kind of news, gossip etc sometimes is good for a country or particularly an actor / actress. also, i didn't read much about the fight, but wasn't there a small verbal fight between Bush and the S.K. President? maybe the fight, stirred the confidence of the S.K. people?

classic example of using the news is Mike Tyson, after he was so foolishly knocked out by Buster Douglas.

hugo_danner · Joined: 21 Jun 2006 Location: korea

The Chinese Yuan is dropping against the dollar. Strange!

richardlang · Joined: 21 Jan 2007 Location: Gangnam

I think it's related to the subprime crisis, and the influx of cash that the U.S. Federal Reserve put into the market.

excitinghead · Joined: 18 Jul 2005

It is intervention, to keep exports competitive. I learnt this a few years ago when I was griping about how the won never budged against the New Zealand dollar and so did some quick research. I would provide links, but have to go to work in 5 mins. Sorry!

dogbert · Joined: 29 Jan 2003 Location: Killbox 90210

It's no mystery.

http://news.mk.co.kr/newsRead.php?year=2007&no=491369