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sojusucks
Joined: 31 May 2008
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 Posted: Sun Jul 10, 2011 2:02 pm Post subject: Won keeps climbing against U.S. dollar |
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Very good news.
http://joongangdaily.joins.com/article/view.asp?aid=2938678
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Last Friday was the first time that the won�s value against the dollar neared the 1,050 won level since Aug. 21, 2008, after which the global financial crisis pushed the exchange rate to 1,500 won per dollar in September 2008.
And the strong won is expected to continue for some time.
�Compared with last year, the current exchange rate is showing a rate of appreciation of between 10 to 15 percent,� said Shin Dong-seok, head of macroeconomic analysis at Samsung Securities. �At this speed, the exchange rate is going to reach 1,000 won per dollar by the end of this year and between 900 and 950 won per dollar by the end of next year.�
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northway
Joined: 05 Jul 2010
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| Posted: Sun Jul 10, 2011 2:06 pm Post subject: |
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| It's kind of good news, except for the fact that the reason the rate is getting better is the issue of the debt ceiling, and it could be very bad for all Americans if it's not. |
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radcon
Joined: 23 May 2011
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| Posted: Sun Jul 10, 2011 2:52 pm Post subject: |
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| northway wrote: |
| It's kind of good news, except for the fact that the reason the rate is getting better is the issue of the debt ceiling, and it could be very bad for all Americans if it's not. |
Im American and the debt ceiling doesn't concern me one bit. It won't be very bad for me, I don't give a flying ..... |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Sun Jul 10, 2011 3:51 pm Post subject: |
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That is kind of good news, kind of depressing. (leaving Korea for States soon)
I'd like if the Yen dropped in value as well, to 2007 levels  |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Jul 10, 2011 5:19 pm Post subject: |
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| radcon wrote: |
| northway wrote: |
| It's kind of good news, except for the fact that the reason the rate is getting better is the issue of the debt ceiling, and it could be very bad for all Americans if it's not. |
Im American and the debt ceiling doesn't concern me one bit. It won't be very bad for me, I don't give a flying ..... |
America = Greece 3. (I wonder if John Travolta will want a piece of that one?).
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Sun Jul 10, 2011 5:39 pm Post subject: |
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| northway wrote: |
| It's kind of good news, except for the fact that the reason the rate is getting better is the issue of the debt ceiling, and it could be very bad for all Americans if it's not. |
No, it isn't. The rate has been climbing since late last year. It's due to a combination of factors, including the fact that the Korean government expended it's dollar surpluses attempting to keep the rate low. It's returning to it's natural rate because the government can't stop it anymore, at least not without causing a rise in prices which they are trying to combat anyway. |
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chrisinkorea2011
Joined: 16 Jan 2011
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| Posted: Sun Jul 10, 2011 10:18 pm Post subject: |
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| well its good news for those who wish to stay in korea longer and trade won to dollars. u are making more. i remember my mom telling me the dollar to won rate used to be 1 - 1600. of course that was a while ago lol |
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