Korean Job Discussion Forums

[ifundelivered]

Sorry if this is a repeat thread, but any discussions of the Won usually deal with the USD.

I'm going to be sending a large amount of Won home (into Euro) in the next 3 months and I'm wondering if I should do it now or later. Anyone who follows/understands global currency trends, your help is appreciated.

[kissing-a-badger-on-crack]

[methdxman]

[goingtothecountry]

Well, if US get its way and China stops manipulating the Yuan, you can expect all of east asian currencies to get stronger as well. Already in the past year, the yuan has appreciated around 2.5 or 5% (I forget which it was but pretty substational) against the dollar. Personally, I would wait. If the Won gets stronger, it'll cost you less wons to buy your Euros.

[Caffeinated]

Won has been getting stronger the past few weeks.

[southernman]

[Vagabundo]

the won remains the world's most pathetic currency, save for bankrupt Iceland.

even as it's strengthened against the dollar recently, other currencies have strengthened more and even against the dollar it remains weak. Against other currencies, it's pathetic.

we get paid in the global equivalent of toilet paper.

euro to won

1/1/2000 - 1138
1/1/2001 - 1191
1/1/2002 - 1164
1/1/2003 - 1244
1/1/2004 - 1500
1/1/2005 - 1410
1/1/2006 - 1198
1/1/2007 - 1227
1/1/2008 - 1377
1/1/2009 - 1775
1/1/2010 - 1668

10/15/2010 - 1567

[Vagabundo]

I feel really sorry for you if you're Aussie (and to lesser extent Canadian)

won to Aussie

1/1/05 - 814
1/1/06 - 740
1/1/07 - 733
1/1/08 - 825
1/1/09 - 895
1/1/10 - 1044

10/15/10 - 1108

[Vagabundo]

might as well do this for all of us, from all the so called English Speaking E-2 countries

won to Canadian loonie

1/1/05 - 865
1/1/06 - 869
1/1/07 - 798
1/1/08 - 946
1/1/09 - 1042
1/1/10 - 1106

10/15/10 - 1105

won to GBP (pound sterling)

1/1/05 - 1999
1/1/06 - 1741
1/1/07 - 1822
1/1/08 - 1875
1/1/09 - 1841
1/1/10 - 1881

10/15/10 - 1785

won to rand (south africa)

1/1/05 - 185
1/1/06 - 160
1/1/07 - 132
1/1/08 - 139
1/1/09 - 135
1/1/10 - 157

10/15/10 - 163

won to USD

1/1/05 - 1041
1/1/06 - 1011
1/1/07 - 930
1/1/08 - 944
1/1/09 - 1270
1/1/10 - 1163

10/15/10 - 1112


the kiwi will closely track the Aussie.

the only ones who haven't gotten reamed are the Brits, (and s. africans) but then again, everyone knew they had the world's most preposterously overpriced currency in 2006 and 2007, as it went over 2 to 1 vs the USD.

[Vagabundo]

your vacations to Thailand have just gotten much more expensive (and Thailand is also an export driven Asian "tiger", ergo a direct Korean competitor)

1/1/05 - 26.8
1/1/06 - 24.7
1/1/07 - 26.2
1/1/08 - 31.9
1/1/09 - 36.6
1/1/10 - 34.9

10/15/10 - 37.3

the most amusing one is vs the Japanese yen. Mind you, recently the Koreans "complained" when the Japanese Central Bank intervened to sell the yen and stem its rise and just the other day were offended when the Japanese Finance Minister said Korea should stop weakening the won.

1/1/05 - 10.15
1/1/06 - 8.57
1/1/07 - 7.81
1/1/08 - 8.45
1/1/09 - 13.95
1/1/10 - 12.51

10/15/10 - 13.70

The G20 summit is supposed to talk about currency exchange rates, especially the rate of USD vs China, but what they should REALLY talk about is the world's biggest currency exchange abuser - Korea.


won to renmbinbi

1/1/07 - 119
1/1/08 - 129
1/1/09 - 186
1/1/10 - 170

10/15/10 - 167

[methdxman]

Don't speculate on currency. Get a future/forward with your bank and lock in a rate. Or get a currency option.

[Kurtz]

[kardisa]

The Won has gained over 150 points on the USD since I got here in July (it's now 1109 won to 1 USD), which is good news. However, I'm wondering how long this relative strength is going to last. I have a feeling that the value of the won is going to plummet back to 1250+ shortly after the G20 meeting.

I might have to look into one of those futures accounts myself. :/