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World Traveler
Joined: 29 May 2009
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GENO123
Joined: 28 Jan 2010
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World Traveler
Joined: 29 May 2009
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 Posted: Wed Jan 06, 2016 1:30 am Post subject: |
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Today GENO's prediction came true. 1200 won is $1. #$%^! 1000 won is 83 cents. This exchange rate blows. Hopefully it won't go down more because of today's North Korean nuclear test. But it looks like that is already happening.  |
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GENO123
Joined: 28 Jan 2010
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World Traveler
Joined: 29 May 2009
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| Posted: Fri Jan 08, 2016 6:58 pm Post subject: |
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| China’s decision to push the value of its currency lower has opened a new front of worry for global investors: a potential wave of currency devaluations among the so-called Asian tigers — South Korea, Singapore and Taiwan. |
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| “These countries have some of the most overvalued exchange rates on the planet,” said Julian Brigden of Macro Intelligence 2 Partners, an independent research firm based in Vail, Colo., that advises large money management firms on global investment themes. |
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Already, global money managers have begun to pull money out of some of these Asian markets.
The Korean won and the Singapore dollar are down 5 percent, while the Taiwan dollar has lost 7 percent over the last six months. |
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Underpinning the fears about a currency war have been the disappointing export figures from the region.
For example, Korean exports fell 14 percent in December compared with the same month in 2014. For the year, exports shrank 8 percent — the worst result for the country since the global financial crisis in 2009. |
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| “I expect these currencies to fall by another 20 or 30 percent,” said Raoul Pal, an independent financial analyst and the founder of Real Vision TV, a media venture where sophisticated investors discuss their views on the market. “These export figures are a big deal — it’s a huge shrinkage in the dollar-based economy, as not enough people are buying goods.” |
http://www.nytimes.com/2016/01/09/business/dealbook/asia-china-renminbi-currency-devaluation.html?ref=asia |
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northway
Joined: 05 Jul 2010
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| Posted: Fri Jan 08, 2016 7:58 pm Post subject: |
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| I would totally go on vacation to Korea if the won crashed 30%. |
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World Traveler
Joined: 29 May 2009
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| Posted: Thu Jan 14, 2016 7:04 pm Post subject: |
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| Weigookin74 wrote: |
| Chinese currency aside, things are just getting back to historical norms. |
| Weigookin74 wrote: |
| Eff yeah!!! About time Cdn dollar went back to normal levels. |
Actually, if one were to average the entire time for the last 25 years, it would be one U.S. dollar equal to 81 cents Canadian. Now it's 69 cents and falling. It's kind of perverse for Canadians to celebrate the decline of their home country's economy. Did you know Canada imports the majority of its food from the United States? A weak loonie means prices will go up. Saffers are in a similar situation. So many erroneously believe the won is doing awesomely when really the change in exchange rate is because their own currency / economy is sh*t.
http://www.xe.com/currencycharts/?from=ZAR&to=USD&view=5Y |
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Yaya
Joined: 25 Feb 2003
Location: Seoul
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| Posted: Fri Jan 15, 2016 12:27 am Post subject: |
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2016 is the Year of the Red Monkey in the Chinese zodiac, and for Korea, that monkey will pound the economy and FX rate.  |
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curlyhoward
Joined: 03 Dec 2008
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| Posted: Fri Jan 15, 2016 4:28 am Post subject: |
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. 1204 |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Wed Jan 20, 2016 5:03 am Post subject: |
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The WON is at 1215.
Will it hit 1230? |
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ArabicTeacher
Joined: 20 Jan 2016
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| Posted: Tue Jan 26, 2016 6:31 pm Post subject: |
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My wife works at a Korean investment firm that is not affiliated to the stock market. She is practically the breadwinner of the family. She once told me that Korea's economy will go into a deeper pool of troubles and the Korean Won will be bad for every one, Korean or non-Korean.
Anyways I'm grateful to have a Korean wife who is more observant about this than me. |
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sligo
Joined: 15 Oct 2008
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| Posted: Tue Jan 26, 2016 8:34 pm Post subject: |
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At present:
1 US dollar = 1201.99 Won
1 UK pound = 1724.17 Won
1Euro = 1305.62 Won
Eeryday they go up and down, but it is the Pound that is weakening against the Won, slowly creeping to under 1700. Maybe time to buy Pounds? |
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chellovek
Joined: 29 Feb 2008
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| Posted: Thu Jan 28, 2016 7:04 am Post subject: |
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I predict it will rain at least once this year 
Please can someone who doesn't really have a clue what they're on about sententiously tell me my prediction is correct (preferably by referring to another prediction made by someone else) by saying something along the lines of "Your prediction is correct, the sky is in the toilet now, will it rain any further? Sky to be down before too long"
Also, quick everybody leave Korea.
https://www.youtube.com/watch?v=xU5mOT57ghM |
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GENO123
Joined: 28 Jan 2010
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| Posted: Fri Jan 29, 2016 3:31 pm Post subject: |
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| GENO123 wrote: |
Follow the Yen. Will korean be ok when a Kia is more expensive than a Lexus?
Also follow the Euro.
Hint the US is the best horse in the glue factory |
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snorske
Joined: 30 Mar 2015
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| Posted: Wed Feb 17, 2016 5:50 pm Post subject: |
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unfortunately I've been holding out for a long time now, hoping the KRW to USD would become more favorable. Now it seems I am in a pickle, as its trading at a 6 year low. Any suggestions?
Ride this sinking Won ship down and wait until 2017 to send money back?
Or send back now? (USD)
I think its currently at 1224.8950 |
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