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loose_ends
Joined: 23 Jul 2007
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 Posted: Mon Dec 01, 2008 10:21 pm Post subject: Currency Exchange Round 2? |
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I read somewhere that a second round of currency exchanges was going to happen on the 2nd of December. These things are like band-aids so I'd like to catch it this time and save a few (thousand) bucks.
Has anyone else heard about this? |
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Kevtron
Joined: 17 Jul 2007
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| Posted: Mon Dec 01, 2008 10:27 pm Post subject: |
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I heard it too, though just on the grapevine. I was wondering though how much of a bandaid this would really be. Sure, if they inject a sh!tload of cash it'll help a bit temporarily, but how much? My friend was of the opinion that it'd magically jump back to even b/c of it (which I quickly assured him was not going to happen).
I too want to send some money out, and so will be watching the rates. |
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Jeff's Cigarettes
Joined: 27 Mar 2007
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| Posted: Mon Dec 01, 2008 10:28 pm Post subject: |
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| Didn't help the dow loosing 800+ yesterday. |
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loose_ends
Joined: 23 Jul 2007
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| Posted: Mon Dec 01, 2008 10:32 pm Post subject: |
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| Kevtron wrote: |
I heard it too, though just on the grapevine. I was wondering though how much of a bandaid this would really be. Sure, if they inject a sh!tload of cash it'll help a bit temporarily, but how much? My friend was of the opinion that it'd magically jump back to even b/c of it (which I quickly assured him was not going to happen).
I too want to send some money out, and so will be watching the rates. |
Well if the last one is any indicator, it will make the exchange rate temporarily better for a week or so by maybe 10-20% (rough guess). It will not go back to normal, and even if it did, it wouldn't stay there for long.
This is all based on the last one that happened mind you.
ETA: 10-20% is prolly much too high of an estimate...just looked over it again. haha. |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Mon Dec 01, 2008 10:51 pm Post subject: |
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The last bump occurred with the announcement of the agreement.
On Dec. 2, $4 billion of the agreed on $30 billion was actually put into the market.
I haven't seen any real effect, or heard that much about it in the news.
With the U.S. market taking a dive yesterday, you would have expected the Won to dive as well, but it didn't. I don't know if the infusion of funds off set the bad news or what, I am certainly no expert and I don't even think the experts really know what is going on anymore to be honest with you. |
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livinginkunsan
Joined: 02 Dec 2006
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| Posted: Mon Dec 01, 2008 10:52 pm Post subject: |
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I am tired of looking and seeing the same exchange rate..
Last edited by livinginkunsan on Mon Dec 01, 2008 11:06 pm; edited 1 time in total |
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loose_ends
Joined: 23 Jul 2007
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| Posted: Mon Dec 01, 2008 10:58 pm Post subject: |
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| T-J wrote: |
The last bump occurred with the announcement of the agreement.
On Dec. 2, $4 billion of the agreed on $30 billion was actually put into the market.
I haven't seen any real effect, or heard that much about it in the news.
With the U.S. market taking a dive yesterday, you would have expected the Won to dive as well, but it didn't. I don't know if the infusion of funds off set the bad news or what, I am certainly no expert and I don't even think the experts really know what is going on anymore to be honest with you. |
Thanks for the information. That makes sense. |
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