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nuthatch
Joined: 21 Feb 2008
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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 Posted: Mon Sep 15, 2008 8:51 pm Post subject: |
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At 1:53pm, the Won is down 44.90 on the day (1154.00)
The KOSPI has dropped 93.86 points (lowest point in a couple of years).
These numbers will change before the end of trading in a couple of hours.
The Chosun Ilbo reports:
Korean Gov't in Emergency Meeting Over Lehman
The Korean government will hold an emergency meeting Tuesday to draw up countermeasures against a possible financial backlash in the face of U.S. investment banking giant Lehman Brothers filing for Chapter 11 protection and Bank of America taking over of Merrill Lynch.
The Strategy and Finance Ministry will convene an ad hoc session of officials from the Financial Services Commission and the Bank of Korea to assess the situation and discuss the impact the latest turn of events will have on the Korean financial market. |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Mon Sep 15, 2008 9:16 pm Post subject: |
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This really, really blows especially since I want to send a large amount to Thailand on a land deal right now (was gonna do it this afternoon). Maybe I'll have to wait it out for a couple of weeks and hope the seller understands. 
The Won/Dollar Rate Is under the Spell of One-sided Dollar�s Strength, when will it end?
Last edited by spliff on Mon Sep 15, 2008 9:20 pm; edited 1 time in total |
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nuthatch
Joined: 21 Feb 2008
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| Posted: Mon Sep 15, 2008 9:19 pm Post subject: |
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| i would do it now as it will continue to get worse for a long time |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Mon Sep 15, 2008 9:22 pm Post subject: |
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| How do u know that? With the way it's been fluctuating it might go down to 1040 next week...anythings possible. |
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nuthatch
Joined: 21 Feb 2008
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| Posted: Mon Sep 15, 2008 9:32 pm Post subject: |
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just intuition
yes, it is hard to predict anything
however, the the ricochet effect had been predicted a long time ago by economists (i am not talking greenspan here...more university types) (don't have references now...i just remember listening)
good luck with your purchase |
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