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OrionForest
Joined: 13 Jul 2007
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 Posted: Thu Nov 22, 2007 5:22 pm Post subject: Won weakening to the dollar... |
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| I know the dollar is quite bad right now, but can someone inform me as to why the won is weakening to the dollar? I'm a little concerned over the quick rise in the last couple days. The won has gone from 915 to 932 to $1 in the last couple days... Anyone think it will continue going up? |
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reactionary
Joined: 22 Oct 2006
Location: korreia
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| Posted: Thu Nov 22, 2007 5:26 pm Post subject: |
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| that sucks. should've sent money home when i had the chance |
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Scotticus
Joined: 18 Mar 2007
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| Posted: Thu Nov 22, 2007 5:39 pm Post subject: |
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| No way. It was under 900 a couple weeks ago. I haven't seen anything in the news to indicate why the Korean won would be losing value so quickly. |
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hagwonnewbie
Joined: 09 Feb 2007
Location: Asia
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| Posted: Thu Nov 22, 2007 6:08 pm Post subject: |
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| I read in the Korean times that people are losing confidence in the won. It's tied to a lot of Japanese economic indicators which were suffering the last few days. Also the Kospi fell a little in the last few days. Does anyone else have any predictions? I think the upcoming elections are gonna mess with the market here. Getting the EXPO in Yeosu wouldn't hurt it. It's strange 'cause the dollar is really low but the won isn't much stronger to the dollar now than it was for most of the last 9 months that I've been here. I guess the won is also tied to the dollar pretty tightly like most major currencies but what the hell do I know? |
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Kevtron
Joined: 17 Jul 2007
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| Posted: Thu Nov 22, 2007 6:38 pm Post subject: |
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This is what I'm starting to think as well; it certainly seems that the Won is tied in with the Dollar. This was also something a Korean was telling me yesterday.
It definitely sucks that 2 weeks ago you could get $1.11 for 1000W, but now
it's only $1.07. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Thu Nov 22, 2007 7:03 pm Post subject: |
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"Uncertainty shrouds financial markets"
http://www.koreaherald.co.kr/
This will tell you the basic facts. |
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dogshed
Joined: 28 Apr 2006
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| Posted: Thu Nov 22, 2007 7:54 pm Post subject: |
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It says investors pulled out of emerging markets. Why would
you pull out of emerging market. I would think it would be
wise to sell your US stocks and then put money into other
countries. |
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hagwonnewbie
Joined: 09 Feb 2007
Location: Asia
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| Posted: Fri Nov 23, 2007 5:45 am Post subject: |
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| looks like the won is expected to suffer more over the next two months according to the article in Friday's business section. Probably a good idea to transfer sooner than later. |
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huffdaddy
Joined: 25 Nov 2005
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| Posted: Fri Nov 23, 2007 7:09 am Post subject: |
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| hagwonnewbie wrote: |
| I read in the Korean times that people are losing confidence in the won. It's tied to a lot of Japanese economic indicators which were suffering the last few days. |
Actually, the yen is doing well. The big hedge funds are starting to unwind their carry trades (borrow cheap in Japan, invest elsewhere). Thus they are buying the yen back to repay their loans.
| dogshed wrote: |
It says investors pulled out of emerging markets. Why would
you pull out of emerging market. I would think it would be
wise to sell your US stocks and then put money into other
countries. |
Flight to safety. Emerging markets are very volatile. I imagine that a lot of the money invested has been borrowed from Japan (see the carry trade above) and needs to be paid back. Many of the emerging markets are prime for a serious correction. |
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kermo
Joined: 01 Sep 2004
Location: Eating eggs, with a comb, out of a shoe.
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| Posted: Fri Nov 23, 2007 7:12 am Post subject: |
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| I'm just holding my breath until March. Historically, this is the best time to send money home (to Canada.) |
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