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hagwonnewbie
Joined: 09 Feb 2007
Location: Asia
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 Posted: Wed May 27, 2009 12:07 am Post subject: |
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| It will affect the value of the won, but it seems the activity in the North is also playing a role at this time. |
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call_the_shots
Joined: 10 Oct 2008
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| Posted: Thu May 28, 2009 4:42 pm Post subject: |
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| Tobias wrote: |
| The US government is printing a shipload of money to pay for all the bailouts. This means the dollar is about to fall in value. Will the won follow it down? |
My guess is that it would. Korea wants to keep the won low compared to the dollar so that exports to the US will remain competitive.
The recent swings in the won lately (probably due to the NK situation) have been unsettling. I usually follow the won's value on hankyung.com and lately their graphs have looked like roller coasters. |
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egabriel
Joined: 02 Jun 2006
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| Posted: Thu May 28, 2009 5:48 pm Post subject: |
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Another thing to consider is that Korea wants to have a strong won in order to buy resources.
You have to remember that Korea is not rich in resources and needs to import a lot of them.
I work for a company in Korea and they buy a lot of their machinery from Europe. Just something I consider.
When the rate was 1511 I transferred $20,000 USD to 30,000,000 KRW. Nice $5000 profit if you think like that. 1250 is in the middle. It can go either way from here if you look at the historic highs around 1500 and historic lows of 1000.
I'm guessing there will be a couple events that will cause the won to devalue a bit to 1300 then it will continue in time over the next 2 years to get stronger against the dollar to maybe 1100. That's my conservative guess. My recommendation is just wait. It will MOST LIKELY get better for us transferring KRW into USD. |
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Hollywoodaction
Joined: 02 Jul 2004
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| Posted: Thu May 28, 2009 6:29 pm Post subject: |
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| The won is up today, actually. Clearly, investors aren't letting themselves get spooked anymore by North Korea's nonsense. |
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Sergio Stefanuto
Joined: 14 May 2009
Location: UK
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| Posted: Fri May 29, 2009 3:13 am Post subject: |
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| Tobias wrote: |
| The US government is printing a shipload of money to pay for all the bailouts. This means the dollar is about to fall in value. Will the won follow it down? |
Yep. A strong dollar? The KRW falls. A weaker dollar? The KRW falls. |
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Yaya
Joined: 25 Feb 2003
Location: Seoul
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| Posted: Fri May 29, 2009 11:34 pm Post subject: |
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| hagwonnewbie wrote: |
| It will affect the value of the won, but it seems the activity in the North is also playing a role at this time. |
Yep, but hopefully it'll subside in the coming weeks. Of course, if the South and the U.S. decide to call the North's bluff... |
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Goku
Joined: 10 Dec 2008
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| Posted: Sat May 30, 2009 12:19 am Post subject: |
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Ware increases economy.
MIGHT explain won prices.
I've dumbed it down, there's a lot more to the logic of it, but I think most everyone is aware of it anyways. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Sat May 30, 2009 7:03 am Post subject: |
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The Korean won fell against the dollar as the stock market fell.
The Korean won has been rising against the dollar as the stock market rises.
There has been a pretty good day by day correlation for months. |
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Big Pun Lives
Joined: 12 Oct 2008
Location: Seoul, South Korea
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Thu Jun 11, 2009 3:51 am Post subject: |
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| The Won has been stumbling around at 1230-1270 for a while now. Hopefully that's not the near term (6-12 month) expectation. I really wanna see 1150 before the fall. Even just a low bounce. I have a feeling though, that we'll need to solidly positive economic data to go there.... |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Thu Jun 11, 2009 4:00 am Post subject: |
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Energy prices are starting to rise. As the benefit to exports is outstripped by the price oil, look for the won to slide back into the 1100 range.
Of course I don't know what the hell I'm talking about, so take it all with a grain of salt. |
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michaelambling
Joined: 31 Dec 2008
Location: Paradise
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| Posted: Thu Jun 11, 2009 4:35 am Post subject: |
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| T-J wrote: |
Energy prices are starting to rise. As the benefit to exports is outstripped by the price oil, look for the won to slide back into the 1100 range.
Of course I don't know what the hell I'm talking about, so take it all with a grain of salt. |
THIS. I have almost all of my money in solar power and the entire industry is bursting with the rising oil costs, and analysts say oil is going to keep rising as the global economy starts recovering. This means added confidence and more speculative investing, so Korean investors will move their money out of a cash position and into stocks, commodities, foreign investment, etc.
Plus, it's pretty clear now that investors ignore North Korea--as one economist recently said in the Korea Times, "instability in the region is already factored in".
Of course, my degrees are in English so I should probably just shut the hell up. |
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call_the_shots
Joined: 10 Oct 2008
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| Posted: Sun Jun 21, 2009 10:51 pm Post subject: |
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| The won seems to be hitting another downward trend. 1274 today. |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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| Posted: Sun Jun 21, 2009 11:11 pm Post subject: |
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Mumbles says, "Kow po sign on, moleeky. Flat liner on a blue line special, and it will work out for the centuries of time. Bartle Doo."
http://www.youtube.com/watch?v=Mii9V3pMgqg |
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Tobias
Joined: 02 Jun 2008
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| Posted: Sun Jun 21, 2009 11:55 pm Post subject: |
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| call_the_shots wrote: |
| The won seems to be hitting another downward trend. 1274 today. |
Time to pull the plug on my accounts. It was good while it lasted. |
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