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This isn't good for anyone

 
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aka Dave



Joined: 02 May 2008
Location: Down by the river

PostPosted: Fri May 30, 2008 10:16 pm    Post subject: This isn't good for anyone Reply with quote

http://www.koreatimes.co.kr/www/news/biz/2008/05/123_25061.html

Korean's current account deficit, the most important indicator of where a currency going, is going in the toilet.

Looks like a weaker won in the near to mid-term future.
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esetters21



Joined: 30 Apr 2006
Location: Seoul

PostPosted: Fri May 30, 2008 10:30 pm    Post subject: Reply with quote

"Sparkling!"
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Paddycakes



Joined: 05 May 2003
Location: Seoul

PostPosted: Fri May 30, 2008 11:47 pm    Post subject: Reply with quote

These things always go in cycles.

I'm paid in Euros so it's great for me. Won to the Euro is currently around 1.6.

But if you're paid in Won and you're trying to pay of student loan debt, this is not good news.
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the ireland



Joined: 11 May 2008
Location: korea

PostPosted: Sat May 31, 2008 9:03 am    Post subject: Reply with quote

Paddycakes wrote:
These things always go in cycles.

I'm paid in Euros so it's great for me. Won to the Euro is currently around 1.6.

But if you're paid in Won and you're trying to pay of student loan debt, this is not good news.


this could be a stupid question with the simple answer being you don't work in korea at the minute, but if it's not......how are you paid in Euros??
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Matman



Joined: 02 Jun 2006

PostPosted: Sat May 31, 2008 9:49 am    Post subject: Reply with quote

The Won was down 2.5% in May alone. That's a 2.5% pay cut if you send money home. Not good news at all.
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tommo123456789



Joined: 31 Jan 2008

PostPosted: Sat May 31, 2008 10:35 am    Post subject: Reply with quote

yes.. the exchange is not good right now.. luckily, george w decided to give me $600 into my american bank account, so i used that to pay my may bills.. hopefully the exchange will get better by next pay day.. right now.. on 6/1 it's 1 dollar is 1028 won.. so by next pay day hopefully i can send my money home..
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Lekker



Joined: 09 Feb 2008
Location: Seoul

PostPosted: Sat May 31, 2008 11:10 am    Post subject: Reply with quote

Paddycakes wrote:

I'm paid in Euros so it's great for me. Won to the Euro is currently around 1.6.


As you said, good for you. Go to Europe and get ripped off.
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