| View previous topic :: View next topic |
| Author |
Message |
murmanjake
Joined: 21 Oct 2008
|
 Posted: Mon May 24, 2010 6:18 pm Post subject: Won Woes |
 |
|
What the hell...
I fly out tomorrow and suddenly the won is plummeting. I shoulda exchanged earlier 
Is it just a reaction to Lee Myung Bak's press conference about NK?
Anyone think it will fix itself quickly? I could leave some cash in country and have it sent to me later, if the won improves in the next month or so... |
|
| Back to top |
|
 |
Provence
Joined: 18 Oct 2008
Location: South Korea
|
| Posted: Mon May 24, 2010 7:38 pm Post subject: Re: Won Woes |
|
|
| murmanjake wrote: |
What the hell...
I fly out tomorrow and suddenly the won is plummeting. I shoulda exchanged earlier
Is it just a reaction to Lee Myung Bak's press conference about NK?
Anyone think it will fix itself quickly? I could leave some cash in country and have it sent to me later, if the won improves in the next month or so... |
Well it will hit 1500 won to 1 USD by July, so its up to you if you want to wait it out after that. It might go back down after July. |
|
| Back to top |
|
|
AsiaESLbound
Joined: 07 Jan 2010
Location: Truck Stop Missouri
|
| Posted: Mon May 24, 2010 9:01 pm Post subject: |
|
|
| Call it dumb bad luck? Might consider getting your dollars today. You never know what's going to happen any day or in July. Don't listen to any predictions as no one knows for sure. Just do what you think is the right thing. If it were me, I'd just take my money out NOW, but that's my perception of the situation. |
|
| Back to top |
|
|
Jane
Joined: 01 Feb 2003
|
| Posted: Mon May 24, 2010 11:41 pm Post subject: |
|
|
Asian Stocks Fall to 10-Month Low, Won Dives, CommoditiesDrop 
May 25 (Bloomberg) -- Asian stocks and the won plunged to 10-month lows after a report that North Korean leader Kim Jong Il ordered his military to prepare for combat last week.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6ZS2ZzPYXH8&pos=1
A bit of a delayed reaction, n'est-ce pas? |
|
| Back to top |
|
|
jurassic82
Joined: 21 Jun 2006
Location: Somewhere!!!!
|
| Posted: Tue May 25, 2010 4:11 am Post subject: |
|
|
I'm not sure where Provence was working before he came to Korea. Maybe Lehman Brothers or Washington Mutual as some kind of analyst. Anyways, yeah it sucks what is happening to the won but this has happened before. Maybe it will go to 1,500 against the dollar and maybe it won't. If you look at the trends over the last few years you will see how unstable the currency is. The last thing you want to do is ask for advice on Dave's. I have no answer to your question but you have to remember that a few weeks ago the won was at 1,100 against the dollar and the Korea economy was recovery from the economic melt down better and faster than most other countries in Asia and around the world. There is a good possibilty that in a few months the relations with the North will calm down and markets will stabilize. Just remember it is not only Korea that is hurting but everywhere. Anyways, don't panic and give time to see how everything unfolds. Best of luck to you.  |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
