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sojourner1
Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug
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 Posted: Sun Jul 13, 2008 8:25 pm Post subject: I just got a $110 a month raise!!! |
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Yes, in the past week, the Korean won sure has made strides by leaps and bounds in strengthening as 2,200,000 won now buys $2217 US while a week ago it only bought like $2107.
Not to shabby. Hope it keeps up the momentum. I understand it has to do with the BOK selling USD reserves to decrease risk in its' USD position due to decreasing confidence in the dollar.
I fantasize what it would be if it hit 900, then 800, then 700, and a real blessing (probably unrealistic, but not impossible) would be 500 as that would mean a 100% pay raise up to about $4500 USD. We seen 899 one day last year so it will keep going down if the Korean government wants a strong won. I'm not sure why they would want a strenghtening won, but that looks like the new strategy of currency manipulation.
Enjoy the benefits of this while it lasts. |
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genezorm
Joined: 01 Jul 2007
Location: Mokpo
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| Posted: Sun Jul 13, 2008 9:42 pm Post subject: |
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| i guess technically that would be true....but then you have probably taken a few pay cuts as well |
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marlow
Joined: 06 Feb 2005
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| Posted: Sun Jul 13, 2008 9:48 pm Post subject: |
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| I've taken a 20% pay cut. I'm Canadian and I remember the won being 800. |
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mikeyboy122
Joined: 28 Feb 2008
Location: namyang
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| Posted: Sun Jul 13, 2008 10:11 pm Post subject: |
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| Can I borrow $55? |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Sun Jul 13, 2008 10:13 pm Post subject: |
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| I hope this trend keeps going. |
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IncognitoHFX
Joined: 06 May 2007
Location: Yeongtong, Suwon
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| Posted: Sun Jul 13, 2008 10:13 pm Post subject: |
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| marlow wrote: |
| I've taken a 20% pay cut. I'm Canadian and I remember the won being 800. |
It was around 700 when I came  |
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fighton
Joined: 27 Jan 2009
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| Posted: Fri Jan 30, 2009 9:54 pm Post subject: |
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| Ahh the good ol' days. I wish that were the case now. |
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Insidejohnmalkovich
Joined: 11 Jan 2008
Location: Pusan
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| Posted: Fri Jan 30, 2009 11:08 pm Post subject: |
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| All we can hope for is that the won will recover in the next ten years when we can finally convert our Korean savings into Canadian savings. <grimaces> |
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D.D.
Joined: 29 May 2008
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| Posted: Sat Jan 31, 2009 12:08 am Post subject: |
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| So this is the guy that jinxed us. |
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blackjack
Joined: 04 Jan 2006
Location: anyang
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| Posted: Sat Jan 31, 2009 1:03 am Post subject: |
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| it's 700 now for me |
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Straphanger
Joined: 09 Oct 2008
Location: Chilgok, Korea
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| Posted: Sat Jan 31, 2009 1:06 am Post subject: |
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| It's 500 for me! |
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ChinaBoy
Joined: 17 Feb 2007
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| Posted: Sat Jan 31, 2009 3:03 am Post subject: |
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Now 2,000,000 KRW gets you 1606 USD.. hehe I guess that's a $600 a month pay cut!
Wow, it would be pretty ironic if Jul 13 turns out to be the day everything turned around.
Strangely, when I got hired on Wall Street, it was the exact high-water mark before going in the toilet. Then to China and Korea. Sigh. [/hang] |
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Zulethe
Joined: 04 Jul 2008
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| Posted: Sat Jan 31, 2009 11:17 am Post subject: |
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| Please, please, please continue talking about the won. It's so interesting. Does anyone know what the current rate is? |
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