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traxxe
Joined: 21 Feb 2007
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 Posted: Sat Oct 25, 2008 9:13 pm Post subject: So is there any place the won is strong against? |
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Where can we escape to on our vacation?
Philippines has tanked the won and so has Thailand.
Are there any countries that the won is still retaining some value? China? Since the exchange rate is set? I'm not too keen on economics. |
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JongnoGuru
Joined: 25 May 2004
Location: peeing on your doorstep
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| Posted: Sat Oct 25, 2008 9:19 pm Post subject: |
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| I think it's holding its own against the Hell Dollar. Just barely, though. |
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wanderingross
Joined: 13 Oct 2008
Location: Incheon
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| Posted: Sat Oct 25, 2008 9:19 pm Post subject: |
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Won is the worst performing major currency. Anything that it has appreciated against it would be some trash currency that you wouldn't want to touch with a ten foot pole.
Your question can be rephrased as "is there any currency that is doing worse than the Won." |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Oct 25, 2008 9:36 pm Post subject: Re: So is there any place the won is strong against? |
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| traxxe wrote: |
Where can we escape to on our vacation?
Philippines has tanked the won and so has Thailand.
Are there any countries that the won is still retaining some value? China? Since the exchange rate is set? I'm not too keen on economics. |
Australia has tanked about as bad as the won so the exchange between the two has been fairly stable.
China is pegged to the US$ so the won is almost worthless there.
IF you get away from the major tourist traps in Thailand, the Philippines or Indonesia you can still get good value (since they were/are so cheap anyway.
. |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Sat Oct 25, 2008 10:00 pm Post subject: Re: So is there any place the won is strong against? |
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| traxxe wrote: |
Where can we escape to on our vacation?
Philippines has tanked the won and so has Thailand.
Are there any countries that the won is still retaining some value? China? Since the exchange rate is set? I'm not too keen on economics. |
Zimbabwe. |
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icicle
Joined: 09 Feb 2007
Location: Gyeonggi do Korea
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| Posted: Sat Oct 25, 2008 10:00 pm Post subject: |
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| I did the comparison a couple of weeks ago and the Australian at that stage was the most stable of all the currencies .... It did not have the huge rise that the other currencies had ... The last week or so it has gone up and down between $1.14 to 1000 won and $1.04 to 1000 won. I think the best rate I got sending money back was around $1.25 a couple of months ago. It has fluctuated between around $1.00 and $1.20 most of this year ... and not really impacted too much relative to the won. |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Sat Oct 25, 2008 10:03 pm Post subject: |
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that's because the Aussie dollar (and more recently the Canadian dollar) have gottten KILLED vs the USD.
the aussie went from near parity... something like .96 to .63 or thereabouts today. That's 30% plus for you right there... similar to won.
more recently the loonie has gone from .94-.95 to USD down to ..7850
that's 20%.
the British pound has gotten smoked from almost 2 to 1 down to 1.5 to 1.
the people who are getting REAMED by all of this are the Americans.. first and foremost |
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The_Source
Joined: 09 Oct 2008
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| Posted: Sat Oct 25, 2008 10:10 pm Post subject: |
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| traxxe wrote: |
| Where can we escape to on our vacation? |
| JongnoGuru wrote: |
| I think it's holding its own against the Hell Dollar. Just barely, though. |
That's good. People have always been telling me to go to hell. |
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bobbyhanlon
Joined: 09 Nov 2003
Location: 서울
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| Posted: Sat Oct 25, 2008 10:26 pm Post subject: |
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| Iceland! |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Sat Oct 25, 2008 10:28 pm Post subject: |
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| bobbyhanlon wrote: |
| Iceland! |
ooh.. good one. forgot about that one.
but that's only down 50% vs USD.
Zimbabwe's better  |
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wylies99
Joined: 13 May 2006
Location: I'm one cool cat!
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| Posted: Sun Oct 26, 2008 2:22 am Post subject: Re: So is there any place the won is strong against? |
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| bogey666 wrote: |
| traxxe wrote: |
Where can we escape to on our vacation?
Philippines has tanked the won and so has Thailand.
Are there any countries that the won is still retaining some value? China? Since the exchange rate is set? I'm not too keen on economics. |
Zimbabwe. |
You go first and post the lowdown for the rest of us.  |
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Dev
Joined: 18 Apr 2006
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| Posted: Sun Oct 26, 2008 6:08 am Post subject: |
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I hear that North Korean money is stronger than won right now. 
Seriously, if I were American, I would keep my money in won until I leave Korea and hope that the exchange rate gets better. If you're leaving soon, convert your money to Canadian dollars which has lost as much as the won and wait for the Canadian dollar to recover before converting that back to U.S. - for the simple reason that Korean won is not so fairly exchanged in the U.S. A lot of for-ex places won't touch won or they'll hammar you with a bad exchange rate.
Actually any G8 country's money would be a good currency to exchange your won to except Russian or Japanese. |
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Sapa
Joined: 05 Nov 2007
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| Posted: Sun Oct 26, 2008 6:16 am Post subject: |
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| Could you just take all your won out of the country and sit on it until you got a better rate? |
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Whirlwind
Joined: 03 Jun 2005
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| Posted: Sun Oct 26, 2008 7:45 am Post subject: |
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| What's the currency for Mars or Jupiter? |
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Otherside
Joined: 06 Sep 2007
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| Posted: Sun Oct 26, 2008 3:58 pm Post subject: |
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| bogey666 wrote: |
| bobbyhanlon wrote: |
| Iceland! |
ooh.. good one. forgot about that one.
but that's only down 50% vs USD.
Zimbabwe's better |
Zim ain't. The hyper inflation kills you. You sell a mill won, get 170 trillion zim dollars, and by the time the cashier has finished counting your bills (only 4 of them, I might add) the value of your zim dollars have already dropped to 500K won. That's right 50% loss in under a minute.*
The above example is for illustrative purposes only. With an annual inflation rate of over 2million percent the point is pretty solid |
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