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Pwillig
Joined: 26 Jan 2009
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 Posted: Sun Oct 18, 2009 6:23 pm Post subject: Won's crashing. |
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Soo it opened today at USD 1=1154. It's up to 1177 now. Yay toilet paper currency.
Edit: Thanks for pointing that out. This job has killed my attention span.
Last edited by Pwillig on Sun Oct 18, 2009 6:29 pm; edited 2 times in total |
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Davew125
Joined: 11 Mar 2007
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| Posted: Sun Oct 18, 2009 6:27 pm Post subject: |
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| i think you mean $1 = 1177 won |
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Captain Courageous
Joined: 16 Jul 2006
Location: Bundang and loving it
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| Posted: Sun Oct 18, 2009 6:28 pm Post subject: |
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| Make sure you make note of where that dollar is from. Australia? Canada? New Zealand? |
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asmith
Joined: 18 Jun 2009
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| Posted: Sun Oct 18, 2009 8:31 pm Post subject: |
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| It will start its true crash after Christmas--around February or March. |
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yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
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| Posted: Sun Oct 18, 2009 8:35 pm Post subject: |
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Rising, actually...
Tell your mofo wanshangnim. Might make him happy. |
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hockeyguy109
Joined: 22 Dec 2008
Location: Daegu
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| Posted: Sun Oct 18, 2009 8:48 pm Post subject: |
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darn, the won was doing so well last week. At least it was good when I sent my monthly money home.
PS: Could anyone provide links to references stating that the won is going to fall hard after Christmas? How bad is this supposed to really get? Is it all speculation? I might not want to renew my contract this Spring if I'm going to be making jack ****. |
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kprrok
Joined: 06 Apr 2004
Location: KC
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| Posted: Sun Oct 18, 2009 9:20 pm Post subject: |
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| hockeyguy109 wrote: |
| Is it all speculation? |
Of course it's all just speculation. Do you really think people can see the future? And if they could, would they really tell everyone what they've seen? |
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proustme
Joined: 13 Jun 2009
Location: Nowon-gu
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| Posted: Sun Oct 18, 2009 9:22 pm Post subject: |
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| Just transferred 1.5 million won to America a few minutes ago with KEB. |
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jonbowman88
Joined: 20 Jan 2009
Location: gwangju, s korea
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| Posted: Sun Oct 18, 2009 9:29 pm Post subject: |
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| I heard the major businesses were pissed the the won was appreeciating in value too fast. So the gov probably did something make them happy. Thats just what i heard |
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redaxe
Joined: 01 Dec 2008
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| Posted: Sun Oct 18, 2009 9:29 pm Post subject: |
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| It's not crashing, it's being "adjusted" downward, meaning the Korean government is buying piles of US dollars. The mass media has already reported this and I said it last week in another thread, so it's not exactly news anymore. |
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bassist33
Joined: 07 Jul 2009
Location: Mok-dong, Seoul
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| Posted: Mon Oct 19, 2009 6:16 am Post subject: |
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| asmith wrote: |
| It will start its true crash after Christmas--around February or March. |
Oh, it's February or March now? I'll adjust my plans..  |
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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| Posted: Mon Oct 19, 2009 7:24 am Post subject: Re: Won's crashing. |
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| Pwillig wrote: |
Soo it opened today at USD 1=1154. It's up to 1177 now. Yay toilet paper currency.
Edit: Thanks for pointing that out. This job has killed my attention span. |
So, a nearly 2% depreciation in the value of a currency constitutes a crash? It sounds to me like you are being over dramatic. |
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weatherman
Joined: 14 Jan 2003
Location: Korea
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| Posted: Mon Oct 19, 2009 7:25 am Post subject: |
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Korean exporter: "The won is much too strong, help government" Korean importer: "The won is much too weak, help government"
you will see these articles in the 'papers' here in Korea almost monthly. The point is Korea acts like a spoilt [Mod Edit] wit, and seeks to blind side sympathetic ears. |
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benji1422
Joined: 02 Jun 2009
Location: Los Angeles & Seoul
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| Posted: Mon Oct 19, 2009 9:56 am Post subject: |
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The latest news reports are that Korea is making money hand over fist exporting their products to the rest of the world. Growth is like 2.5% a quarter this year (10% a year!) because of the cheap won so expect the government to intervene to keep it at around 1200. if it goes below 1000 they'll sell less stuff to Best Buy, less Hyundais, etc. They are also trying to really get foreign investment so again... cheap won. Keep wishing for 900 to a dollar won. Not gonna happen** (**unless some traders at Goldman Sachs figure out how to manipulate the market  |
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madoka
Joined: 27 Mar 2008
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| Posted: Mon Oct 19, 2009 11:04 am Post subject: Re: Won's crashing. |
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| Pwillig wrote: |
| Soo it opened today at USD 1=1154. It's up to 1177 now. Yay toilet paper currency. |
So if you were to transfer a entire typical year's worth of savings, you'd lose about $200. Gee, I guess that makes it toliet paper alright.
Can you say drama queen? |
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