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Radius
Joined: 20 Dec 2009
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 Posted: Tue Nov 23, 2010 2:35 am Post subject: will the Won fall some more? |
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| After this shelling from N. Korea can/will the won even more? Btw, I moved my money to America today before the incident happened. I moved 4.4 million and got $3,900 USD. |
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RMNC
Joined: 21 Jul 2010
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| Posted: Tue Nov 23, 2010 2:38 am Post subject: |
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| The shelling will stop today, Lee Myung Bak will go "Don't do that, please!" and everything will return back to normal. |
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Provence
Joined: 18 Oct 2008
Location: South Korea
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| Posted: Tue Nov 23, 2010 3:10 am Post subject: |
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Yes. At least for the short term until everything clears up.
Honestly, I am losing hope for the won. If it�s not the ROK manipulating the won it�s the North doing something stupid like this that affects the won.
Either way the won drops. |
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Vagabundo
Joined: 26 Aug 2010
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| Posted: Tue Nov 23, 2010 3:12 am Post subject: |
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| Provence wrote: |
Yes. At least for the short term until everything clears up.
Honestly, I am losing hope for the won. If it�s not the ROK manipulating the won it�s the North doing something stupid like this that affects the won.
Either way the won drops. |
true, true true.
I promised myself I'd wire a bunch of money home when it hit 1100.
just missed it.
damn. |
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Provence
Joined: 18 Oct 2008
Location: South Korea
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| Posted: Tue Nov 23, 2010 3:22 am Post subject: |
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| Actually, this is good for South Korea. The won drops right before the holiday season and they didn�t even have to lower interest rates or purchase large quantities of foreign currency. Now they have even more room to manipulate the won despite the increase in exports. |
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Radius
Joined: 20 Dec 2009
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| Posted: Tue Nov 23, 2010 4:04 am Post subject: |
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| man talk about getting it done before the bell. Sent money home at noon and two hours later this crap with N.K happens. lucked out! |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Tue Nov 23, 2010 4:08 am Post subject: |
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| it seems to usually recover about a week or so after. |
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Vagabundo
Joined: 26 Aug 2010
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| Posted: Tue Nov 23, 2010 4:31 am Post subject: |
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| Captain Corea wrote: |
| it seems to usually recover about a week or so after. |
no. that's the case with real currencies, but the won is toilet paper.
it'll take much longer to recover.
and it'll never quite recover its previous levels.
witness what happened post Cheonan.
won shot up from 1120 to 1300 in 2-3 days.
took months to grind back down toward 1120.
and as it did, the Korean govt and its cheobol stooges like Shin and the Finance MInister were quacking about the "too rapid appreciation of the won". |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Tue Nov 23, 2010 4:46 am Post subject: |
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Maybe I'm looking at the wrong sites but on March 25th, the day before the attack, the rate was 1140.510. and it really didn't start climbing until May 20th (1164.280). That's two months that t hovered at roughly the same rate after (and before) the attack.
http://www.oanda.com/currency/historical-rates
are you seeing something I am not? |
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Vagabundo
Joined: 26 Aug 2010
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| Posted: Tue Nov 23, 2010 5:25 am Post subject: |
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| Captain Corea wrote: |
Maybe I'm looking at the wrong sites but on March 25th, the day before the attack, the rate was 1140.510. and it really didn't start climbing until May 20th (1164.280). That's two months that t hovered at roughly the same rate after (and before) the attack.
http://www.oanda.com/currency/historical-rates
are you seeing something I am not? |
you're correct in that the won didn't take a bit whack, until weeks after the attack, it actually happened over 2-3 days after the LMB govt formally and officially blamed and accused the Norks of the attack.
it shot up to 1300 from low 1100's over 2-3 days.
came back down to 1200 fairly quickly.. as things settled down.
but the grind back down from 1200 to 1100 was slow and tortuous indeed. and as it fell below 1150, the screams and whining from the cheobol beholden cronies of the current govt. got louder and louder.
(meanwhile other currencies were strengthening vs USD during the entire Cheonan encounter).
that's why almost every single currency table of the crap won vs other currencies, especially Asian currencies , the won is almost as crappy against them as it was back in the dark days of 2008/2009 (even against Chinese yuan)
which makes Korean currency whining that much more outrageous. |
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bobbybigfoot
Joined: 05 May 2007
Location: Seoul
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| Posted: Tue Nov 23, 2010 6:48 am Post subject: |
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| Vagabundo wrote: |
| but the won is toilet paper. |
Completely disrespectful.
This country has given alot of us our livelihood for many years and we should be grateful. |
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Vagabundo
Joined: 26 Aug 2010
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| Posted: Tue Nov 23, 2010 7:01 am Post subject: |
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| bobbybigfoot wrote: |
| Vagabundo wrote: |
| but the won is toilet paper. |
Completely disrespectful.
This country has given alot of us our livelihood for many years and we should be grateful. |
overly zealous rhetoric perhaps.
but far closer to the truth, than falsehood.
if I had a choice of a currency NOT to get paid in, almost under any circumstances, with the disappearance of the Zimbabwean dollar and excluding the Iceland krona, the won would easily place in the top three, if not grab the top spot. |
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laconic2
Joined: 23 May 2005
Location: Wonderful World of ESL
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Tue Nov 23, 2010 1:31 pm Post subject: |
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| Vagabundo wrote: |
| Captain Corea wrote: |
Maybe I'm looking at the wrong sites but on March 25th, the day before the attack, the rate was 1140.510. and it really didn't start climbing until May 20th (1164.280). That's two months that t hovered at roughly the same rate after (and before) the attack.
http://www.oanda.com/currency/historical-rates
are you seeing something I am not? |
you're correct in that the won didn't take a bit whack, until weeks after the attack, it actually happened over 2-3 days after the LMB govt formally and officially blamed and accused the Norks of the attack.
it shot up to 1300 from low 1100's over 2-3 days.
came back down to 1200 fairly quickly.. as things settled down.
but the grind back down from 1200 to 1100 was slow and tortuous indeed. and as it fell below 1150, the screams and whining from the cheobol beholden cronies of the current govt. got louder and louder.
(meanwhile other currencies were strengthening vs USD during the entire Cheonan encounter).
that's why almost every single currency table of the crap won vs other currencies, especially Asian currencies , the won is almost as crappy against them as it was back in the dark days of 2008/2009 (even against Chinese yuan)
which makes Korean currency whining that much more outrageous. |
Mind showing links on this, because this is what I read...
03/25/2010 1140.510
03/26/2010 1144.820
03/27/2010 1139.860
03/28/2010 1139.860
03/29/2010 1146.530
03/30/2010 1137.660
03/31/2010 1132.120
04/01/2010 1132.630
04/02/2010 1127.650
04/03/2010 1143.90
04/04/2010 1148.110
04/05/2010 1148.240
04/06/2010 1134.30
04/07/2010 1127.270
04/08/2010 1122.330
04/09/2010 1124.730
04/10/2010 1119.440
04/11/2010 1115.950
04/12/2010 1116.070
04/13/2010 1114.080
04/14/2010 1123.720
04/15/2010 1114.080
04/16/2010 1109.020
04/17/2010 1110.860
04/18/2010 1121.080
04/19/2010 1135.460
04/20/2010 1121.20
04/21/2010 1119.070
04/22/2010 1110.0
04/23/2010 1109.020
04/24/2010 1110.490
04/25/2010 1108.890
04/26/2010 1109.020
04/27/2010 1105.580
04/28/2010 1110.620
04/29/2010 1118.320
04/30/2010 1115.570
05/01/2010 1110.250
05/02/2010 1109.750
05/03/2010 1119.190
05/04/2010 1121.080
05/05/2010 1117.320
05/06/2010 1118.440
05/07/2010 1141.030
05/08/2010 1154.730
05/09/2010 1174.40
05/10/2010 1165.50
05/11/2010 1135.330
05/12/2010 1137.790
05/13/2010 1145.210
05/14/2010 1150.620
05/15/2010 1134.690
05/16/2010 1134.820
05/17/2010 1133.020
05/18/2010 1152.870
05/19/2010 1153.40
05/20/2010 1164.280
05/21/2010 1190.480
05/22/2010 1192.750
05/23/2010 1195.890
05/24/2010 1195.740
05/25/2010 1224.290
05/26/2010 1251.090
05/27/2010 1254.710
05/28/2010 1231.070
05/29/2010 1203.080
05/30/2010 1205.690
05/31/2010 1198.040
06/01/2010 1202.650
06/02/2010 1216.250
06/03/2010 1217.580
06/04/2010 1201.630
06/05/2010 1203.220
06/06/2010 1203.510
06/07/2010 1224.740
06/08/2010 1238.850
06/09/2010 1236.710
06/10/2010 1249.530
06/11/2010 1251.880
06/12/2010 1247.820
06/13/2010 1243.160
06/14/2010 1245.640
06/15/2010 1225.190
06/16/2010 1229.710
06/17/2010 1215.210
06/18/2010 1214.480
06/19/2010 1207.440
06/20/2010 1220.850
06/21/2010 1217.580
06/22/2010 1179.660
06/23/2010 1184.970
06/24/2010 1187.650
06/25/2010 1189.480 |
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Kurtz
Joined: 05 Jan 2007
Location: ples bilong me
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